The Sun.
London, England, 1846-06-04 00:00:00

MONEY and COMMERCIAL NEWS.

(From The Sun of last Night.)
The sales of Cotton at Liverpool yesterday were 4,000
bales, of which 1,000 were on speculation. Besides this,
2,000 baits had been taken on the previous evening on spe-
culation, after the usual hours of business. Shares were
very quiet, but firm.

Messrs. Lamond and Co's sale of Railway shares went off
rather dully but at about previous rates. Wexford, Water-
ford, and Valentia, Bs.-Leicester and Bedford, IL 6s. 6d.-
London and Manchester, Remington's, 14s. 6d.-Goole and
Doncaster, 11. 10s.-Essex and Suffolk, 12s. 6d.-South
Midland, 1/. IN.-Warwick and Worcester, 10s.-Exeter,
Yeovil, and Dorset, 11. 195.-Brecon and Merthyr Tydvil,
Bs.-Welsh Midland, 1/. 2s. 6d.-Waveney Valley, 10s. 6d.-
Great Eastern and Western, 195.-Buckinghamshire, 2/ 2s.
-East Indian, 15s. 6d.-Jamaica South Midland, 17s. 6d.-
Calcutta and St. George's Point, 55.-East Dereham and
Norwich, Bs. 6d.-Vale of Neath, 11. 10s.-Direct London
and Exeter, 4s. Gd.
Share :peculai ion is worthy of all censure, no doubt, where
it degenerates into mere gambling, and impedes the progress
of the lines really wanted, by forcing a host of valueless
schemes into even temporary favour. In a publication which
is in the eighth edition, entitled a " Short and Sure Guide to
Permanetit Investments in Railways," it is contended, partly
with a show of reason, though not fully to our satisfaction,
inasmuch as we would discourage mere scheming, that the
fresh accumulation of capital somewhere made "comes into
the hands of the railway company in lieu of the stock which
they previously held. Then commence their payments to
irunmasters, contractors, engineers, mechanics, and la-
bourers, which-by same perversion of terms, or of
mind - has been described as a locking up of
capital till the line is completed and making
returns.' On the contrary, is it not essentially a
circulation of capital-a circulation giving life and vigour
and activity to industry and trade-and ultimately
creating the means of making fresh accumulations, to
be again concentrated and again dispersed in the employment
of the skill and labour of future generations. So little of the
capital of the country, comparatively, is yet appro-
priated to railways; so few persons regard them as
ordinary and legitimate modes of investment ; that
when the means at the disposal of these few are
absorbed, there is usually a pause, which is followed
by a pressure upon the money market; and when (as
last year) such transactions are entered into by per-
sons who have no means whatever, instead of a pause there
is a crash. But the same thing occurs occasionally in every
other department of enterprise ; and there is nothing con-
nected with it which can be considered peculiar to railways,
except the disproportion, already noticed, between the small
number of investors and the increasing amount of stock."
The mercantile news by the Overland Mail is rather mere
satisfactory, but still not indicative of an active demand for
British fabrics, while the value of Indian produce, rice and
indigo for instance, was advancing.
The Public Securities have been very firm and there has
been a moderate business done. Consols are 96% % for
Money, and 971/8 to for Account. Exchequer-bills have been
marked 16s. to 20s. premium, being rather firmer. Bank
Stock is quiet at 2051,1. The New Three-and-a-Quarter per
Cents. have been 97)6 %, and the Three per Cents., 951/ 3/4.
The Foreign Securities have been dull, Portuguese Four
per Cents. are 54; Mexican have been 29% to 30%; Dutch
Two-and-a-Half per Cents. are 60%.
In Shares there is not much doing, but they are firm ge-
nerally.

ONE
Bank Stock .. •• • • O'CLOCK.
• . 2051%
Three per Cent. Reduced Annuities 9531 %
Three per Cent. Consols Annuities 96%%
New Three-and-a-Quarter per Cent. Aims. 97% %
Long Annuities, Expire Jan. 5, 1860 .. 10430
Ditto, 30 years, Oct. 10, 1859
India Stock .. .
India Bonds, 1,000/
Ditto, under 1,0001.
Consols for Opening .. 97%4
Exchequer Bills. I%el. 114 d.
1,0001. 16 20 Pm. 2,
Ditto, Advertised 16 12 pm. 12
ONE CLOSIN
FOREIGN FUNDS. O'CLOCK. PRICES.
Mexican Bonds, 1837, 5 per Cent .. 29% 29%
Ditto, for the Account .. 304 30
Ditto, DefoTed •16 15%
Portuguese Four per Cent 52% 54 52%
Ditto, for the Account ..
Spanish Bonds, 5 per Cent .. 24%
Ditto, for the Account .. 24%
Ditto, Three per Cent .. 37%
Venezuela Bonds, 2 per Cent ..
Dividends on the above payable in Landon.
French Rentes, 5 per Cent .. 120 f. 50e.
Exchange .. • . 25f. 75c.
Dutch Two-and-a-Half per Cent .. 6032'
Ditto. 4 per Cent. Certificates .. 92 301 91%
BUSINESS
PAID. DONE AT CLOSING
PRICES.
ONE O'CLOCK.
126
P

BRITISH FUNDS.

CLOSING
PRICES.
205%
95%

97%
10%
10 1-16
266

• • .."--

120 f. 50c.
25f. 75c.
60%
91%

PRICES OF
RAILWAY SHARES.
Birmingham and Gloucester.. 100
Birmingham and Oxford Junction 2 .... 2%
Buckinghamshire .. 425. .... par 14 p....
Caledonian . .. 10 .... 11% .. .......
Ditto, Half Shares .. 2% .... 1%
Churnet and Blythe .. .. 2..• • 1 .......... .y 8
Cheltenham and Oxford .. .. 2 .... 1%•
.. . 134
Derby and Crewe 2% .... 6% ,
•
6%
Direct Manchester (Rastrick's) .. 534 • • ..
DirecfNorthern .. • • .. 23% .... % .•• .. 1%
Eastern Counties .. 141. 16...... 23% % ....... 23%
Ditto, York Extension .. 10s. .... .
Goole, Doncast., and -heflield, &c. 425. dis... % dis.
Great Southern & West. (Ireland) 20 .... 23 .......... 23
Hull and selby .. • . .. 50 .. ..........
Ditto 34 Shares .. . 123{ ..
.. •• • • 21%
Leicester at/ICI isedrord 225. .... % p.. ... • % P
London an Birmingham . • • .100 ..225 229 22'7% 229 229
Ditto Quarters
Ditt. Firths .. 2 26.
..........25
London and Croydon .. • .131. 155 22% 22%
London and Greenwich .. 12/. 15s. 4d. 9% ... •• • 91A
London and South-Western . 411. 6s. 10d...
Ditto, New Consol. Eighths .. 34 ....
London and York .. • • .. 2hi .. 2%.........
...........
Lynn and Ely .. • . .. 15 .... 13 ......
Manchester and Birmingham .. 40 _ ....
Ditto, Quarter Shares (B) • • 4 .... ....
Manchester, Buxton, & Matlock 425. .. • 1 p... ...
Manchester and Southampton .. 2 .... 1)4%
..100 ....1483 .
Ditto, New .. 18 .. • . 31% 32 ......
Newcastle and Darlington Junet. 25 .... ..........
Ditto, New, Brandling .. 25 4434 ..........
North British.. 22% ..........
Ditto, Half Shares .. • • • • 8% • 11% .• .. 11%
North Staffordshire .. • • • . 425... • . 3% 4 p.... .. 4 p
Scottish Central .. . .. 10 .... 16% 16 16
South Devon .. .. 35 .... ...... 3434
South Midland .. 425..... % % di5...... % dis
South Eastern and Dovor .. • . 33%.. • • 39%........ 39%
Ditto, New (iss. at 32/.) No. 1. 16 ... 20 ......... 20
Do.. New (do. 33/. 68.8 d.) No. 2. 10 .... 1414 14U
Do., New (do. 301.) .. No. 3. 15 .... 16% 1811
Do., New (do. 151.) .. No. 4. 23% „ 2% % • ..... • • 2341
Vale of Neath .. 2 .... 134 .
West Riding Union • • • • .. 425. p........
York and North Midland .. .. 50 ....
Do. E. and W. Riding Exten. • • I 11%

FOREIGN RAILWAYS.
Central of Spain .. • • • • 2 .... 2
Dutch Rhenish .. 6
Eastern Belgian Junction 2%
......
Louvain and Jemeppe .. 4 .. .
Luxembourg 4 ....

Namur and Liege .. .. .. 6 .... 3%-% ..
Grt. North. of France Constituted 5 .... 13%
Orleans and Bordeaux .. .. 6 .... 10% 9%
Paris and Lyons Constituted .. 5 .. • • 6i 4

JOINT-STOCK BANKS.
London Joint-Stock .. .. .. 10 .... ..........
Union of London .. .. .. .. 10 .. • • loN % ........

Real del Monte, Unregistered .. —33 i

SIXTEENTH REPORT FROM THE
SELECT COMMITTEE ON RAILWAY BILLS
CLASSIFICATION.

Mr. Pakington reported from the Select Committee ap-
pointed for the Classification of Railway Bills according
to the resolutions adopted by the House, that they have
considered the several matters referred to them, and
agreed to report as follows :
Your Committee recommend that the Monkland and Kir-
kintilloch 'Railway Bill be removed from Group No. 10, and
placed in Group No. 61.
Your Committee recommend that the Caledonian Railway
(Clydesdale Junction Railway Deviations) be removed from
Group No. 10, and placed in Group No. 61.
Your Committee recommend that the Great Leinster and
Munster Railway (No. 1, Carlow to Kilkenny), and the
Great Leinster and Munster Railway (No. 2, Kilkenny to
Clonmel), be referred to Group No. 65.

SPOR.TING IN'rELLIGENCE.
(RECEIVED THIS DAY.)
ALIN C H ESTER RACES—TUESDAY.
Free Handicap of 10 sovs. each, and 30 added. One mile
and a quarter. 4 Subs.
Mr. Fox's Plalmsinger, 6st 41b (Abdale) 1
Mr. Flintoff's Princess Royal
Mr. Phillips' b I Physician, out of Theano
Mr. Dawson's Step- and• Fetch-it
The Manchester Cup of 1501., added to a Handicap of 2 sovs.
each, 10 ft, the second to receive 301. Twice round and
a dis.
11, H sseltine's The Slaver's Daughter, 3 yrs (Edwards) 1
Mr. Critchlov's Cur de..Lion, 4 yrs ........ 2
Mr. Meiklam's Philip, 6 vrs
The following also started, but were not placed :—Mr.
Worthington's Hooton, 6 yrs—Mr. Whitelock's Fair Rosa-
mond, 5 yrs--Mr. Hobson's Bedele, 4 yrs.
Plate of 50L, for three yrs old, 7st ; 4 yrs, Bst 41b ; 5 yrs,
Bst 91b ; 6 vrs and aged, Bst 121 b ; mares, &c., allowed 31b ;
the second to receive 101. Heats, two miles and a die.
Mr. Griffith's Lucy, 5 yrs (Styche) 2 1 1
Mr. W. Scott's Driffield, 3 yrs
Mr. Mostyn's Chartist, 3 yrs
Mr. Bowler's Alicia (late Ada), 4 yrs ... 3 4 0
Mr. Hopwood's Gothic, 4 yrs
Mr. Morriss's Alice, 5 yrs