The Sun.
London, England, 1848-03-31 00:00:00

MONEY and COMMERCIAL NEWS

CITY, QUARTER TO TiIREE

The Cotton Market at Liverpool yesterday was steady,
the demand being fair. There was no alteration. in
price. Sales 4,000 bales, of which 3,0r0 were American,
at 4-id. to 51d. per lb. Railway shares closed rather
firmly, without any material iteration in prices. The
market, however, had still a downward tendency.
The confirmation of the acceptance of the treaty of
peace with Mexico by the Mexican Senate has come to
hand this morning, but we find no particular commer-
cial news in the papers.
The continental journals received to-day give no news
of particular importance, but although from Paris the
advices are not good, the absurd holiday-making
system still prevailing, and the Presse news-
paper having been subjected to mob law, there is at
least the favourable circumstance that the Government
is respected. The advices by the Hamburgh mail report
all quiet in most parts of Germany. Holstein was still
arming, Let Denmark does not appear to be making any
preparations for war, although its expressed determina-
tion is to incorporate Holstein. At Stockholm there
had been some rioting, but it was suppressed. The es-
tablishment of a republic at Venice is mentioned in the
German accounts, but it is said to have been effected
pacifically.
The following remarks from the forthcoming number
of the Banker's Magazine are worthy of the attention
of all holders of public securities:—
" The ♦iolent fluctuations and the rapid decline in
the price of the English Funds which we noticed in our
last review, has continued with scarcely any intermis-
sion up to the period at which we write (March 28th,
1848). In the week ending, February 26th, 1848, the
price of Consols varied from 591 to 8711 and in the
week ended March 25th, 1848, the oscillation was be-
tween 80j and 81i.
" The longest tall the Foreign Stocks exhibited is in
the case of French and Belgian investments, and the
circumstance is abundantly accounted for by the combi-
nation of unsettled politics and utterly disorganised
finances with which both these countries have been so
suddenly overwhelmed.
" But the march of depreciation has extended beyond
British or Foreign State Funds, and has included even
the best of our own railways.
" Now, there can be no question that the extraordi-
nary career of receding prices exhibited by these state-
ments of figures, is to be traced almost exclusively to a
feeling of panic. Intrinsically, there is no reason why
the shares of the London and North-Western Railway
should be worth 10 per cent. less on the 24th March,
than on the 19th February ; and the same observation
applies, with almost as great an emphasis, to each
of the other instances put down on our list. It is
the infelicity of our times to pay little regard to
considerations of intrinsic estimation; and in the present
ominous state of the future we can easily understand
how the impetuosity of the timid and unthinking to get
hold of as much hard cash as they can grasp, should lead
to an inordinate sacrifice of sound and substantial pro-
perty. There can be no hope of any restoration of the
price of the Continental Securities for some time; but
we may perhaps hope for a change is the negotiable
value of the best of our railways, a species of property
which cannot very well be stolen, and is not very likely
to evaporate."
The Corn Market is lower to- day.
The Funds have been fiat again this morning, al-
though Money Stock is very scarce, and the sales
pressed just now are nearly all for time. Consols have
been 81 to 81i for present transfer, and 80i to.
811 for Account. The latest prices are 801 to 81i
Bank Steck for Account has been at 1921, and India
Stock at 233. Exchequer-bills have realised 31s. to
345. premium. The dividends are to be paid on the 6th
April.
This is settling day in the foreign market, and the
most conspicuous feature is the heavy decline in the
Russian stock, now quoted at 75. Spanish Active bonds
have been 11 to Mexican stock has realised 15k
to 15i. Dutch Two-and-a-Half per Cents. have de-
clined to 38 and 35. _ _ .

Railway Shares are very dull at rather reduced prices.
CLOSINO
PRICES
79% xd
81%

ONE
O'CLOCK.

UCF.S OF ItRITISIT FUNDS.
8 par C( nt. Reduced Anns . . ...
per Cent. Consols Annuities 8114% 81
Long Anna. to expire Jan. 1860
Ditto 30 years, Jan. 5, 1860 7-16
India Bonds, 1,0001.

8 V 6
Igp

_ Ditto under 1,000/. . ..... .—.... 18 p 18 p
Bank Stock for Account ..
Consols for Account ..... ......... 81% 897 i 81% 81%
India Stock for Account 233 233
_ _

.........
Exchequer Bills. 3d.
' 1.0001.
Small 35 30 p
ONE I
'RICER OF FOREIGN FUNDS. O'CLOCK.
Mexican, 5 per Cent. 1846 15%
Ditto, Account 15%
Russian Bonds ...
Spanish 5 per Cent. 1840.
Ditto, Account ll
Ditto. Passive
Ditto, 3 per Cent
Ditto, Account .
Dividends on the above payble in London.
...

.
30 p
CLOSIN
PRICES.
15Th
155'
___ /8

Dutch 2% per Cent., 12 Guild.... 88 85 36
PRICES OF BUSINESS DONE CLOSING
RAILWAY SHARES. PAID. AT ONE O'CLOCK. PRICES.
Aberdeen
Amber., Nott., Boston,
and Eastern Junetion 314...... -
Ayrshire and Galloway.. 2 tAi —
Belfast & County Down 11%
Birmingham and Ox-
ford Junction .... ... 20
Birmingham, Wolver-
hampton, and Dudley 10
Birming., Wolverh'pton,
and Stour Valley 10/. 145... ... •••
Birkenhead, Lancashire,
and Cheshire Jung 734...... ••• • --....,
Boston, Stamfd & Birm 5
Bristol and Exeter B5
Ditto, Thirds
Buckinghamshire-. 12/. 4s.
Caledonian .. —
Ditto, Half Shares .. 33/4 — ... —
Ditto,ClydesdaleJunc 50
Chester and Holyhead.- 37%...... 13% l4
Ditto,;Preference l5 ...... . l4
Clarence
Do. Ist Class, 6 per Ct. 10
Do. 2.1 Class, 5 per Ct. 10 ...... „. —
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mouth
Dublin and Belfast June. 25 ......
Dundalk & Enniskillen 17%
East Anglia, 25L, L. &
E. and L. and D...... 25 ...... _
Do., 18/., E. & H.... 18
Do., 31. 10s. ..... 3% ~„ — ..»..
Eastern Counties........
20
Ditto,Extension,s per
Cent., No. 1.-- 6/. 13s. 4d....

Ditto ditto, No. 2...61. 13s. 4d... par
Do., North. & Eastern 50
Do., Quarters .. ..... 121,E —
Do., New 23
Eastern Union 50
Ditto, Quarter Shares 12% —

Ditto, fhirds..... ...135.4d:. ....
Do. (guar. 6 percent.) 10 ...... . .... ~ .. ~.
Ditto, ditto
East Lancashire
Ditto, New ... .... 15
Ditto, New Quarters 33% —
East Lincolnshire
Edinburgh and Glasgow 50 ...... 3714
Ditto, Half Shares ... 15 .. .. 9
Ditto, Quarter Shares 1214......
Edinburgh and Northern 25 —
Ditto, New.. 314 —
Ditto, Newport l2
Ditto, ditto, New 214.....
Exeter,Yeovil, & Dorch. 2%
Ditto, New
Glasgow, Dumfries, and
Carlisle
Glasgow,Kilmar , & Ayr 50
Ditto, New ........... 40
Do. Preference Consol. 15
Great Northern
Do., London and York 2%...... A .....
Great South. and West.
(Ireland)
Great North of England.loo ......
Ditto, New, 401 .. 5
Ditto, New, 301......... 30
Ditto, New, 151 6lA— ••• ......
Great Western 9O ..... 89 90 88% ......
Ditto, 1,4 Shares 5O ...... 50 49%
Ditto, 1,4 Shares
Ditto, Fifths
Ditto, New 171........ 9% 7,ii
Huddersfield and Manch. 24
Ditto, Thirds-
Hull and Selby ..
Ditto, Half Shares
Ditto, to Shares
Ipswich & Bury St. Edm 17%
Do., do., arid Norwick 15
Do., do., Extens. Scrip
(late Camb. & Ely) 2% ......... .••• •
Lancaster and Carlisle... 50
..
Ditto, Thirds
Lancashire & Yorkshire 93
Ditto, ditto • B2 ..... 70 ... ..... .... .
Dittd, % Shares
Do. Quarter Shares... 14% ... ......... ...
Do. Fifths.... ....... .... 9
Do. Sixteenths 614
Do. Thirds (Reg.).....10/. 45... •.. ... ........
Do. Liverp. and Bury 38 ......
Ditto % (late Hud-
dersfield and Shelf.) 33 '
Do.(Wakefield,Ponte-
tract, and Goole) ... 60
Do.( W. Riding Union)4/.25... ... 3% dis, 3% dis.
Do. (Preston & Wyre) 25
Do. % Shares (A)... 9
Leeds and Bradford
Leeds, Dewsbury, &c.... 421......
Do., Half Shares 171..... ...
Do., (blue) Scrip.-- 2%.....
Leeds and Thirsk ...... 40
Ditto, New ...... . ..... . 22% _ ...
... —
Do., Prefer. ,6 per CL 3% —
Liverpool, Crosby and
Southport . ... 2
Liverp., Manchester, and
Newcastle Junction... 2%......
London & Black wa11...13/. 68.8 d....
Do. New, No. 2. 5/. 138.4 d.... 2 dis 2 dis.
Do. Extension ...... 20
London, Brighton, and
South Coast
Do. Consol. Eighths. 40 —
Do. Guarant. 5 per ct.., 9
Do. Pref. Con. 5 per ct. 50 ~
Ditto, ditt0...... 1852 50 —
London and Greenwich 12/15s 4d...
Ditto, Preference... 181 17a 2d...
London and N. Western 100 1241% 126 124% 124%
Do. Quarters (L. & B.) 22
Ditto, New
Ditto, Fifths ..... .. .. 2 ...., — •• •••••• .
Do 40/. Shares(L. bl.) 20
Do. 104 (M. & B.) A. 7%