The Sun.
London, England, 1851-07-14 00:00:00

nixbrzs.

Paid. Nominal Prices. Business done
to-day.
Aatnrian .......... •• • • 15 ..
Australian ...
Barossa Range 1 13 0 336
Blaenarvon Iron and Coal all —.•
Boianos Scrip
British 1r0n.... .•
Brazilian Imp. (is. 51. p ) 2434
Do. Cocaes and Cuiaba all ..
Do. St. John del Rey l5 17X 193( xd
Cobre Copper 40 393{3 41% 40%
Copiapo ...• •• • 14 63(, 734
General....,.. .......• all 18 —l4
Mexican &S. American 9 —4%
Real Del Monte, Unreg,
Do. Black Debentures.
Do. Red Debentures
Santiago de Cuba
Tin Croft •••••••••• •• • • 7 fi —'6
United Mexican •• .. ••28 2 fl% 3% —2% %
JOINT STOCK BANES.
Australasia •• • • all 33
British North America 5O 45% -46
Colonial • •
Commercial of London 2O 25 25%
London Joint Stock
London and Westminster 20 2736 —2B
National Proyincial Eng. 35
Do. New lO • • —••
National of Ireland ...• 22% 18% 20%
Previncisd of Ireland 25 42 —44
Do. New .. ...• •• all 15
tr 15
Union of Australia ...• 35 —3%
Do. New •• . 2% 3 3%
Union of London
•• 10 12%
Union of Madrid
Canada
MISCELLANEOUS.
....... ...... . 22%
Gen. Steam Navigation . 14 26% —2B
Penin. & Oriental Steam, all 69S —7l
Ditto ditto 5 11 xd
Royal Mail Steam ...... 60 75 —7B

,ANEOI7IS.
4s 46%
26% 28
69% 71
75 789 xd75%
to errors of the Official Lis%
I correspondents.]

IWe cannot be answer:
will not be influenced by

Ole for tk
intereatei

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
The sales of cotton at Liverpool on Saturday were
estimated at hem 5,000 to 6 000 bales, of which 1,000
American were taken for export. The sales comprised
5,000 American, 100 Egyptian, at 64d. to lid ; and 200
burst, at 31 to aid. per lb. The market, was quiet
but steady, at previous ratee.—ln Railway Shares only
a limited business was done at lower rates.
The marked apathy on the part of the public which,
for some time pest, has prevailed in respect to Bailee),
Shares is, as the customary sequel of undue excitement,
in some respects explicable. Extremes, however, may
exist either way, and we apprehend that many shares
now are as ceueelessly depteseed as they were before
advanced. Dividends are, after all, the true test, and a
fair coneideration of future prospects shoutd, in addition,
eetermine present values. Messrs. J. S. Tripp and Co.,
in a circular just issued, estimate the dividend for the
fi.st halt of this ear, at the rate per cent, per annum of
2 per cent. on East Lancaehire, 3 per cent. on Gr
Northern, 4} per cent. on Great Western, 5i per cent. oeatn
North-Western, 3} on Brighton, 2 on Michaud, 3 OL.
South Eastern, anti 3i on York and Berwick.
The last six we. Ice of the belf-year ending June,
1851, justifies the belief of increased divide nds heretef er
The London and Nor h-Western take the lead, and
East Lancashire, Great Western, &c., are to be included.
The only reason we can assign fur the great depres-
sion of the Railway Share mat ket is, that people have
not recovered Irene the frieht of the recent fall, and as
is u,ually the case, the public prefer buy ing on a rising
to a falling maiket. It has been stated that the large
quantity of shares still in pawn bangs as a nightmere on
the merket, and prevents any improvement in prices—
that immediately upon a rise this stuck is poured upon
the market. Now if this were really so, we should find
the contangos on the account days increase; i. e., the
rate of interest charged for loans upon shares would be
higher, but the reverse is the tact, for scarcely at
any moment could money be raised upon shares with
greater facility or at more moderate rates than at the
present time, and we are assured that, at Liverpool the
facilities for borrowing money on railway shares are
even greater than here, from which we conclude there is
no probability of any amount of stock coming on the
market at present prices; and we believe that when the
halt-yeterly accounts are published, and the favourable
results of the last half-year's working become known,
capitalists will be induced to purchase at present prices,
when a smart improvement must t*, How.
There is another important feature which must not
be lo.t eight of, viz., the decrease in railway calls.
Touching, therefore, present values, thero are no secu•
ritiea so convertible as railways share that offer an equal
immediate or prospective return to the capitalist.
Take, for instance, the London and North-Western
with a reserve fund in hand of 151 2911., with a dividend
just due of 21 per cent., and another oividend due in six
months heace of 3 per cent, at least, together amounting
to 51. 15e., which the ;resent purchaser will receive
within six months from the date of his investment, and
he will then be the holder of a stock which will subse
quently pay him a minimum dividend of 6 per cent.,
with a prospect of a gradual rise to 10 per cent.
We are therefore decidedly of opinion that the prices
of railway shares are now too low.
Granted that there are parties who, at the first consi-
derable advance, are waiting to realize, yet the capitalist
must bear in mind that next year there will be no rail-
way calls to effect the market—the wealth of the coun-
try will be corsiderably augmented by the railways
being nearly all completed and returning dividends, avid
eba there will be no other investment of sufficient matt
niturte, excepting our railways, that will yield a safe anti
profitable return, that can carry off the enormous cur-
plus capital of heat year, which we estimate will be at
least equal to forty millions sterling. With consols
above PM., which next year will be the case, it is non-
sense to suppose that ra;levay property will not be in re
quest.

For Wheat prices are steady to-day. Oats are
Lower.

The express in anticipation of the overland mail ha+
arrived, but ihe lettera are nit yet in town. The state
of trade in India dues not appear to be very favourably
reported pn. _

The New York a‘iviees notice the failure of one or
:wo firms, own,g to the revu6ton in Cotton. This was
"u 1y expected.

The finmburgh mail brings the rate of Exchange f
higher on Loudon, viz., 13 3f. There was rather more
thmind fur minty, but a ,00d feeling prrvailt.d in the
Sh.re market.

At Amsterdam on the 11th inst. Dutch Stock was
firm, the Two-aid-tt -Halt p•.r Cents. being 58 13-16.
Spanish Bonds were in request.
The Funds open much the stime to-day, and there has
bQati a moderate business doing. The ndanee ot
Consul dealers is not lerge, Monday being seld. m a very
busy day, but as the settlement ot the account takes
place next week, we shdl prohibly have then more ac-
tivity. Consols have teen 97 to The New Three-
and-a Quarter per Cents, have lealised 99i and the
Three per Cents. 97i Bank Stock is nun at 214,
and Ldia. Stock sit Noy a, 262. Exchequer-hulk sup-
port the rates of 51s. and 545., and India. Bonds Lave
been at 593, premium.

In the Fureign Market Spanish Bonds have been
higher, the Five per Cents. realising 24 The Trirt e
per Cents. have been at 381. Brbz.itan Small Stick
has bei nat 90i. Paruvi,n Uld Bond, hare been quoted
89, and the Deferred 43,t. Sardinian Scrip is at
discount to par. The Five per Cents. have been at 93
75, wilb the exchange at 25. Dutch Four per Cents.
have been 92k. Spanish now are 2l to
Railway Snares have been all ln.er, aad this being
the day tor carrying over, the Bears take advantage
of it.

Console ...
Ditto Account

QUARTER TO THREE.
.. ... ... 97*
... ... 9 7 i ex div.

ONE C1...0.111,t,
PRICES OF BRITIsfI FUNDS O'CLOCK. PRICES.
Bank 6tocs.
3 e t,erit. Roducma Anne.
3 per Cent. Consols Annuities... ..... 97% 97 97
, AV/ 44 per Cent. Anne
New 5 per Cent. Annuities — 123 ex die.
.4 lig ALIIIII. to expire J au. Low ..... 7% 7%
India Stock 262 26. t
I i die Bonds, 1,0001. 59 p 59 p
Ditto under 1,0004
0 ausols for Account
x chequer bulb. I fin.
1.1)001.
Smell. ..

51 p
51 p
CLOsINt,
PRICES.

ONE
PRICES OF FORETGN FUNDS. O'CLOCK.
lrazilian Bonds, 5 per Cent. ... —
Ditto, Small .. .. 9034 903/4
Buenos Ayres Bonds, 6 per Cent,. — 54
111 , YleaU, 5 per Ut. ,ex Jan. Coupe 32% 3214
Ditto, Account —327 i
Peruvian Bonds. 5 per Cent..
Ditto, Account
Ditto, Deferred ..... .... 43% 4314
Russian Honda
Ditto. 414 per Cent
Sardinian Bonds, 5 per Cent. F
Ditto, Scrip
Bparush 5 per Canc. 184 u........... .............. ar !e dit par
2034
Ditto, Passive siDitto. 3 per Cent
Dividends on the above payable in London.
,
French Rentes, 5 per Cent 93f. 75c. 93f. 75c
Exchange
French Rentes, 3 per Cent
Exchange
Mitch 21,42 per Cent. 12 Guild — 5914
Ditto 4 per Cent. Certificate.
Ditto, Account .

ii)r to
be THE EDITOR OF THE SUN.
5m.....0
In several newspupers of this day
that the Grand AgriculttutqDuaiiiinnte3r,Oattl
that,
tn. t( o
my is r
.
be bupplied by me. I beg o
Bret, I was compelled to decline if, owing to the multi-
plicity of my engagements.
I am, Sir, yours, &c.,
-

'- ,
A:•
SOYER.
Gore House, Kensington, July 14, 1851

ARRITALS MIVART'S HOTEL.— His Excellency
theCondede A
CeT vellon, the Duchess Fernan Nunez, the
Countess del Pilau Ororio and suite, from Spain ; the Hon.
Mrs. Vanneck, from Naples; the Marquis Pallavicciui, the
illa 4lbi, Count GheridiAa and Count Alessandri, from
atjgu
ur; sM. and Madame Gaud (de 1' kin), from Paris. De-
partures from ditto—Marshal Narvaez (Duke of Valencia)
accompanied by Colonel Villalte and suite, for Paris; Mr.,
Mrs., and the Misses Naper, for Woodcote. Norfolk; Lady
Chetw)nd, for Longdon Hall; Mr. and Mrs. O'shea, fur
Fulbeck Hall, Lincolnshire; Prince Demetri de Naritchkina
and suite, on his return to Russia.
Miss D&VENPoitT.—This talented English actress
has become a special favourite throughout the United States.
Her success at St. Louis was so great that an address, signed
by upwards of 250 respectable citizens, was presented to her
on the 16th ult., tendering her complimentary benefit after
her regular benefit bad taken place.
LIVERPOOL, SATURDAY, JULY 12.—The Royal
Mail steamship America, Captain Leitch, sailed from the
Mersey at eleven o'clock this morning, for Halifax and
Boston, vrith the anal mails, a fair freight, azd TO ;5.
iteggri