The Sun.
London, England, 1848-09-14 00:00:00

We shall look further into this subject as occasion
offers.

There is not even to-day so good a feeling as existed
yesterday, the Continental accounts, the Irish news, and
the rather unfavourable accounts of the potato crops,
causing a restlessness which is very perceptible among
thoughtful men. Consols are 651 to 86 for present
transfer, 86 to if for account. Exchequer bills of March
have been 28s. to 31s. premium. The new Three-and-a-
Quarter per Cents, are 864 to 4.
Sales have been pressed in the Foreign Stock Market.
Spanish Five per Cents. have been 114, and the Three
per Cents. 224. Portuguese Four per Cents. have been
quoted 214. and Brazilian 754. Mexican Bonds have
been 164, Equadur 14 to 24, and Dutch Two-and a-Half
per Cents. 441.
Railway Shares have been again lower, and the market
is in a very weak state.

ONE IN G
P cicFs OF if Tt/TISH FUNDS. O'CLOCK. CPRILOSCE:4
3 per Cent. Reduced A.*:ns.. B6 853;
3 per Cent. ConsolB Annuities B6 85/.4 85%
New 314 per Cent. Anu 5......
India Stock 236 237 237
India Bonds, 1,0001.
Ditto under 1,0001... —. .. 28 p 18 p
South Sea Stock
Consols for Account, Oct. 17
I. x chequer Bills. 24d. & 2d.
1,0001. March ...... 3l 29 28 p
1,000/. June 26 p
5001. March.~
5001. June
PRICES OF FOREIGN FUNDS

ONE
O'CLICK.
Brazilian Bonds
Ditto, Small 74
Ditto, New, 1829 and 1839
Do., New, 1843 .. ........
Buenos Ayres Bonds, 6 per Cent 21%
Equador Bonds
Grenada Bonds, 1 per Cent.
Ditto, Deferred 2
Mexican, 5 per Cent. 1846 16% 161
Ditto, Account 16% 16%
Portuguese 5 per Cents. 6B 69 69
Ditto, 4 per Cent 211,E 22
Spanish 5 per Cent. 1840.
Ditto, 3 per Cent
Venezuela Bonds, 2!41 per Cent l4
Ditto, Deferred 4
Dividends on the above payable in London.
Dutch 2% per Cent., 12 Guild 44%
Ditto. 4 per Cent. Certificates 70%

CLOSIN ii
PRICER.
75j,

PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOCK. PRICES.
Aberdeen
Amber. Nott., Boston,
and Eastern Junction 334.--
Ayrshire and Galloway.. 21,4
Belfast & County Down 17% •—
Birmingham and Ox-
ford Junction .... ... 20
Birmingham, Wolver-
hampton, and Dudley 10 ..... 134
Birming.,Wolverh'pton,
and Stour Valley 13/. 145...
Birkenhead, Lancashire,
and Cheshire Junc 10
Boston, Stamfd & Birm. 5 ... ..
Bristol and Exeter B5 ... .. -
Ditto, Thirds ..-
Buckinghamshire... 141. 4s. ..... 4N dis 4% dis
Caledonian
Ditto, Half Shares .. 83// ......
Do. New 10/. Pref..... 214.- .. 2% 2
Ditto,Clydesdale June 50
Chester and Holyhead... 47% 20% ....... ....... 201,4
Ditto,:Preference
Clarence
Do. Ist Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent. -
Direct London & Ports-
mouth
Dublin and Belfast June 3O ......
Dundalk & Enniskillen 20 ......
East Anglia, 25/., L. &
E. and L. and D 25 ......
Do., 18/., E. & 11 lB
Do., 3/. 10s.
Eastern Counties....... 20
Do. New Guaranteed
6 per Cent. -
Ditto, Extension, 5 per
Cent., No. 1 ..6L 13s. 4d.... % dis % dis
Ditto ditto, No. 2...61. 13s. 4d...
Do. North. & Eastern 50
Do., 5 per cent.
Do. Quarters ..» 12% — ... ...... ... . -
Do. New
Eastern Union, Class A
(late E. U. Shares) 25
Ditto, Class A, ditto... 1
..
.............
Ditto, Class B (I. &
and B.) 2O ......
Ditto, Class C, ditto..: 17%.....
.. ..
.............

12%

Do. Scrip (6 percent.) 10
Ditto, ditto
Ditto (C. h E.) guar ........

5 per cent-- .- 2l/i
East Lancashire
Ditto, New ........ •. 19 .
Ditto, New Quarters 614 . ........
.
Do., 6 per Cent. Pre-
.......... ..
ference Quarters .•• 44 ..... . -
East Lincolnshire . ..... 23 .....
Edinburgh and Glasgow 50
Ditto, Half Shares ... 15 411/2
..
............
Ditto, Quarter Shares 121/i.„,.. 10

Edinbui-gb and Northern 25".,,,,, ...............
Ditto, New.. 614 ...... ............. .•
DDitto, Newport l3 ..... ...... •••.•••••••••••
itto, ditto New
...............
Exeter,Yeovil, & Dora 2% .... ..... . ........
Ditto, New
Glasgow, Dumfries, and "^•••••••••••
Carlisle ....... ... .8/. 65. 1id.....
Glasgow,Kilmar., & Ayr 50 .••
..... . .....
Ditto, New ... ...... ... 40 ...... ...... Do. Preference Consul. 15 . ......
...... ...... .. ,
Great Northern
......... 17 .... . 614 % Do., London and York 21, 1,41 ...
4......
.
Treat South. and West.
(Ireland) .............. 42%...... ....
Great North of England.loo
......
Ditto, New, 40/......... 40
Ditto, ditto .............. 15
Ditto, New, 30/ 3O ..
Ditto, New,ls/ l4 .. . •••• ..
Great Western 9O
... .. 77 ...
•Ditto, 1,4 Shares
Ditto, Fifths
Ditto, New 171........ 13 ... .. 9:4%,... .......
Huddersfield and Manch. 28
Ditto, Thirds
Hull and Selby .. ...... 50 ......
Ditto, Half Shares ... 25 ......

Ditto, IA Shares
Lancaster and Carlisle 5O ......
Ditto, Thirds
Lancashire & Yorkshire 93 ...............
Ditto, ditto
Ditto, % Shares ...... 43 ...
Do. Quarter Shares... 171,. — .....
Do. Fifths... ......... ... 9
Do. Sixteenths 6;4 — ............
Do. Thirds (Keg.)..... 13 ..... 21,4% ......... 21
Do. New, Gua.6 perct. 21,4 21,i% ......... 2,
_.. ..............
DDioitoLiv3ierpolatn Bury
ed
Hud-
dersfield 43
and Shoff.) 43
Do.(Wakefield,Ponte-
... ....•
tract, and Goole) ... 50
.........
Do.( W. Riding Union) 6 „ ......
Do. (Preston & Wyre) 25
Do. IA Shares (A)... 01/s ... ........
Leeds and Bradford 5O ..... •••••'••.....
Leeds, Dewsbury, &c 5O .......
Do., Half Shares
.... .............
Do., (blue) Scrip 2%, ..............
50
Leeds and Thirsk
Ditto, New 3O .. 51)4 ..............
D 0.., Prefer., 6 per Ct — ..."
........
Liverpool, Crosby and - .......
......
Southport . .......... 314,
Liverp., Manchester, and .....
............
•o.n Newcastle&B 1 ajc
Extensionkunw cat°.
.n. 3: /.2
223111 4/2. . 4
.........
LoDndo
London, Brighton, and
South Coast
50 --• 263/sAIA 261,E

....
9 1
...............

MONEY mitt 1:0241,111:41“.,1 AL. -
CITY, QUARTER TO THREE.
The Cotton Market at Liverpool yesterday was steady.
Sales, 6,000 bales, of which 2,000 were American for
exportation. The prices paid for 5,000 bales of Ameri-
c,n ranged from 3d. to 6d. per lb. Railway shares bad
been generally lower, with very little doing.
The seriously depressed condition of the railway share
market renders frequent recurrence to the causes, pre-
sumed or ascertained, as well as to the future prospeets
necessary, and doubtless to most of our readers very ac-
ceptable. A course of mismanagement, or the excessive
confidence felt in the maintenance of high dividends,
and more than all, perhaps, the mania of 1845, which
forced upon the old lines branches that they could more
usefully have made at leisure, have all combined
to produce an unsatisfactory feeling, and to lower in
present public estimation the value of even the best
securities. It is true that the return of interest upon
even the best lines, has been depreciated with the rest,
but without this being the result, perhaps, of unforeseen
or permanent causes. Mr. Glyn, as is well known, an-
ticipated a decrease in the dividend on the North-
Western, and the competition of the York lines was no
doubt take❑ into due account. Of the effect of railway
improvements there is some valuable information in the
evidence given before the Parliamentary Committees on
Commercial Distress and the Bank Charter Act. Mr.
Robert Gardiner, a Manchester merchant, is asked by
the Chairman of the Commons' Committee:—
" Have there been considerable losses in consequence
of the speculation in railways ?—lmmense losses. I
know a gentleman, formerly connected with Manchester,
who stated that he paid 100,000/. last year in railway
calls, and that he found that his property now invested
in railways was worth 30,0001. less at the price of the
day than it was last year ; that after having paid that
100,0001., on looking at the railway lists which give the
current prices of the day, he found that his shares were
worth 30,0001. less than they were last year, although he
had in the mean time paid 100,0001. It was self-evident
that the consequences relative to railways must be very
disastrous and very ruinous."
This is the natural reaction upon gambling and in-
flated prices, but of course proves nothing against the
railway system per se.
Mr. Gurney, the celebrated discount broker is asked—
" Do you attribute much to the effect of the railways?—
I cannot trace it to railways. I have been asked several
times whether I thought they affected the money mar-
ket while they were in progress. I was under the
necessity of giving an answer that I could not
tell ; but still my reason would say that so
far as the commercial capital of the country (I do not
mean the mere floating money) has been withdrawn
from commercial and trading purposes into railways, it
must have had an injurious effect upon trade; on the
other hand, it was rather a time of excitement in trade;
there was no facility wanted; and therefore, though my
reason and my judgment tells me that it must have had
such an effect as that alluded to, my experience has not
shown it to me."