The Sun.
London, England, 1846-10-30 00:00:00

MONEY MARKET and CITY NEWS.

CITY, TIIITUSDAY.
TIMES.—The market for Consols was eenselerebly
influenced to-day by large speculative sales, which re-
duced quotations about five-eighths per cent. Various
rumours have been circulated accounting for this sudden
change in the appearance of business. Many of the
dealers seem to apprehend ill consequences from the con-
templated Spanish expedition into Portugal; and others
profess to believe some fresh movement has occurred in
the French Cabinet inimical to English interests. Al-
though no positive information has transpired which
would give a clue to the real operating cause, the fact
that the speculators who are supposed to receive ex-
presses from the other side of the Channel have been the
chief sellers would lead to the inference that it is either
Spanish or French events which have contributed to pro-
duce this decline. Consols opened at 94i for Money and
the Account; they were done as low as 94* for Money,
and 914 for the Account ; and left off respectively
at 94-4 for Money, and 9.1-1- to the Account
Spani,h also txperienc d a great change i'
sales of this stock being freely effected. 't
for Portuguese dropped from the genera,
ness, and Foreign Securities, were altogether du..
A meeting of the shareholders of the Australian
Mining Company was held to-day, at which the direc-
tors presented a very flattering report. The recent
discoveries of minerals in the neighbourhood of Ade-
laide had prepared the parties interested for some very
favourable details concerning the position of their pro-
perty. It seems that the directors are daily expecting
official intelligence of the grant of 20,000 acres of land,
situated near Reedy Creek, where large quantities of
copper ore have been found, which intelligence was
only delayed till the claim of " royalty" was settled,
The samples of ore received yield an average of 30'
per cent.

re marke
LI beavi.

POST.—There was to-day a fall of unusual magni-
tude in the public securities. The Government brokers
purchased 5,000 Three-and-a-Quarter per Cent. stock,
at 95k, for account of the savings'- banks, 5,000 of the same
stock, at the same rate, for account of the unclaimed
dividends, and 1,200 Old South Sea Annuities, at 931,
for account of the Commissioners for the reduc-
tion of the National Debt. At the close of business
Bank Stock was quoted 204 k to 205 k; Three per Cent.
Reduced 93i to -1,-; Three-and-a-Quarter per Cent. Stock
951 to I; Consuls 941 for Money, and 94+ to afor Ac-
count; Exchequer-bills 9s. to 12s. premium. The supply
of money was abundant for all ordinary purposes, and,
that the markets should have given way to the extent
witnessed, was a matter of some surprise, particularly
as there was really little appearance of business.
Consols were at one moment as low as 94k for Money,
establishing a decline of fully i to 1. per cent., and,
sympathising with these, almost everything else was
quoted nominally lower, such as foreign stocks of
various kinds, and, in a very minor degree, rail-
ways and other shares. Different rumours were in
circulation to account for the fall, but the ap-
prehensions of the public having been once par-
tially awakened by statements announcing impor-
tant movements in our arsenals and dockyards, there
can be little doubt that an advantage was taken by un-
scrupulous speculators, of the opportunity afforded them
of working as strongly as possible upon sensitive minds,
by the employment of all kinds of inventions and ex-
aggerations for the promotion of their own selfish ob-
jects. The state of Portugal was the leading topic of
the day. In the facts which have been made matter of
newspaper comment, connected with the recent revolu-
tion, good reason is thought to have been found for the
belief that there must now be a total severance of the
amicable relations which have for so many years sub-
sisted between France and England. All the mischief is
ascribed to the intriguing propensities of his Majesty the
King of the French, and hence it is that a cause belli is
considered to have arisen, which may adequately ex-
plain the motive for the increase spoken of in our naval
and military forces. The marching of a Spanish
army into Portugal, and the preparation for foreign
service--the departure, in fact, of an English fleet,
the throwing up of additional defences at Gibraltar, and
the like, were among the subjects of the many agreeable
rumours to which it was the fate of timid stock-holders
to have to listen from about eleven o'clock until nearly
the close of the markets. gventually, however, a stand
was made by influential parties, and the reports of the
day being essentially vague, there was at length a rally,
the home securities recovering themselves to the extent
of about 4 per cent. The intelligence upon which the
earlier operations were based seems to have been derived
almost exclusively from newspaper sources. As such is
the case, our readers may be able to judge for themselves
of the merits of the reports in question which have a
political bearing. The condition of Ireland is still a
cause of solicitude, and the foreign exchanges having
turned against this country, there may be some exporta-
tion of the precious metals. We are of opinion, never-
theless, that the fears entertained on these, as well as on
the other heads alluded to, have been needlessly grea