The Sun.
London, England, 1851-08-13 00:00:00

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
The sales of Cotton at Liverpool yesterday were 6,000
bales, of which 2,000 American were taken for export.
The sales comprised 5,000 American, 450 Pernam and
Maranham at sd. to 51c1., 200 Bahia at 61d., 100 EgYr
tian at sd. to qd., and 500 Surat at 2id. to 3ad. per
lb. The market was quiet, bat closed firmly; prices of
good ord and low mid American were tight; the same
may be said of Surat.—Railway Shares were dull.
The.rates at which bills of exchange were negotiated
yesterday afternoon upon the principal continental cities
were rather higher. Paris, 90 days, was taken at 25
22i to 25; Amsterdam, 11 184 to 18i-; Hamburgh, 13
81 to 8i; Frankfort, 1191 to 1191; and Trieste, 11 48
to 53.

Official returns state that on comparing the herring
fishery of Scotland for 1850, with an average of the
herring fishery of Great Britain, taken from the five
years' fishing previous to the year 1849, there
is a decrease for the year 1850 of only
about 30,000 barrels of herrings in the total
quantity cleared. It appears from this comparison
that the fishing of 1850 has been about an average fish-
ing, and as the withdrawal of the officers from the
English stations has now elicited the true return for the
Scotch herring fisheries, so it has also brought out the
extreme importance and extensive value of this branch of
industry to Scotland. It shows that from Scotland, almost
exclusively, is carried on the great Continental trade in her-
rings, which has gradually risen from year to year, and is
now an object of so much interest and importance to the
Northern States of Europe. While every other section
of the trade of cured herrings has declined, this alone
has steadily increased. In examining the returns, with
a view to have an average for comparison, it is necessary
to pass over the fishing of 1849, because that fishing
so far exceeded every other, and the glut of fish from it
was so enormous, that if admitted, it takes the calcula•
tion quite out of the range of a common average. The
fishing of 1849 exceeded the highest fishing
formerly on record by no less then 103,403
barrels; and it must be evident that so sudden
an excess, and to so great an amount, ought to be
treated as a solitary instance of very singular abundance.
Rejecting, then, the year 1849, it will be seen by the
returns as made up for the year ended sth January,
1851, that the export of herrings to the Continent for
that year shows a marked increase, and that this branoh
of the trade has been steadily .increasing year by year.
Oa the other hand, the export to Ireland, and the export
to places out of Europe, has largely decreased, thereby
making the Continent the chief market for herrings,
and rendering Europe the great field of enterprise for
British fishermen and curers. The trade in herrings to
places out of Europe was formerly directed chiefly
to our West India Colonies, cured herrings
being a principal article of food for the
slaves there; but atter the Slave Emancipation Act, the
trade to these colonies declined till it has become per-
fectly insignificant. The Irish market was also for-
merly a large market, and still continues to take a con-
siderable quantity of cured herrings; nevertheless, it is
too rapidly on the decline, and the progressive decrease
of the demand in that quarter, visible.almost year by
year, naturally caused serious apprehensions that the
market will in time become extinct. The causes for
this are not so apparent. It may be an evidence of the
improved agriculture and increasing prosperity of Ire-
land, or the free importation of foreign corn by cheapen•
ing the price may have given the people a different de-
scription of food, or the consumption of salt herrings
may bo lessened by the excessive emigration of the
labouring population ; but from whatever cause it
proceeds, the demand in Ireland has greatly fallen off.
and there appears little or no prospect of its reviving. It
is singular, in the face of what might be called national
markets, thus spontaneously closing themselves to the
produce of one part of the empire, to perceive the conti-
nental states, on the other band, receiving more and more
of British herrings, and gladly, accepting them when-
ever they can be offered, or rather wherever they are
not excluded by the high and arbitrary duties imposed
on the import of them by foreign Governments. It is
still more singular to observe the marked contrast in this
respect to what was the state of things half a century
ago. At that time the idea of competition with
the Dutch was ridiculed. They, and they alone,
were supposed to have the knowledge both of
catching and of curing herrings, so as to make
them acceptable on the continent. They were al"
lowed to take undisputed possession of the herring
fisheries in the North Sea; and the hopes of those en"
gaged in our national fisheries seemed to be confined to
the Frith of Forth and the Lochs of the west coast of
Scotland, and to aim no higher than hastily to prepare
the fish caught, so as to suit home consumption or the
West India market. From the period when the Com'
missioners took charge of the fisheries to the present
date, the continental trade has been gradually expand-
ing; and wherever it has done so, in every state which
has opened its market, it can be traced to the undis-
puted currency possessed by British herrings through
the official brand which carries them from merehan t
to merchant, and from town to town unopened,
and therefore in the best condition, with an attestation
of quality that can be relied on, and the guarantee of the
neutral but responsible authority. In their annual re-
ports the Conemmissioners have given assurance that
their efforts and attention have been unremitting to
maintain the purity of the official brand, and it is with
satisfaction they have perceived by the returns of conti-
nental export that the exertions of the board have been
appreciated by foreign merchants, and that increasing
purchases have been made on the faith of the brand•
The manner in which it operates in directing foreign
capital to the produce of the Scottish fisheries
is forcibly illustrated in a letter from Mr.
Wellmann, of Stettin, to George Traill, Esq., Mx.,
a plain and simple narrative of the common course of the
trade in herrings over the continent, and of the ease
and simplicity with which complex and difficult deal-
ings are conducted through the operation of the brand.
The report of the Amsterdam Stock Market is to the
effect that business was dull. Dutch Two-and-a-Half
per Cents. were 58i. Mexican Bonds were lower.
The English Funds have been rather weaker, Console
realising 96i 4 for Transfer, and 96 for Account. The
differences are met with ease. The New Three- and-
s-Quarter per Cents. have been 98i to 99k. Bank Stock
is worth 215 to Exchequer-bills have been 465. to
495, premium; Indian Stock has been at 261.
Spanish Three per Cents. are 38i; and the Passive
Bonds 54. Russian Bonds are 115 to Mexican hare
been done at 29i and 30, and are now called 291 i•
Sardinian Scrip is par to discount. Dutch Four per
Cents. are 93k.
Shares are not so good generally, and the Bears
seem to have operated less freely of late, and therefore
have less to "carry over." The Bulls, cense quentliP
are made to pay dearer on continuing their accounts.
PRICES OF BRITIKI FUNDS oNE CLosilra
O'CLOCK,
Bank Stock 215 %
3 per Cent. Reduced Anne.
3 per Cent. Consols'Annuitie5...
New 34 per Cent. Anna-. 99 % 9874 9941 99 6
Long Anne. to expire Jan.lB6o 7A 7-16 774
India Stock 261 261
India Bonds, 1,000/.
Ditto under 1,000/„...... .......
Consols for Account
Exchequer Bills. I%d. _
1,000/.
5001.
Small. ..
ONE CL
PRICES OF FOREIGN FUNDS. O'CLOCK. rEIOkiIS
CES•
Brazilian Bonds, 5 per Cent. ...

Ditto, Small
Ditto, New, 1829 and 1839
Ditto, New, 1843
BleNican, 5 per Ct., ex Jan. Coups 293ii 30
Ditto, Account
Portuguese b per Cents.
Russian Bonds
Ditto, 414 per Cent
Sardinian Bonds, 5 per Cent.
Ditto, Scrip
Spanish 5 per Cent. 1840
Ditto, Passive 5,4
Ditto. 3 per Cent
Dividends on the above payable in London.
Dutch 21/ per Cent. 12 Guild —
Ditto 4 per Cent. Certificates

COURSE OF Exc.
Amsterdam 11 17
Ditto, three months 11 18
Rotterdam .. 11 18
25 25 },l
Brussels • ..... • 25 25
Hanaburgh .... • . LLB. 13 83
Altona• • ..... • • ....
Paris, 3 days'sight .• •• 25 7?•=
Ditto, 3 mouths .... 25 25
Marseilles •••• .. • • 25 27%
80urdeaux.......... •
VrankfortonMaine.... 119%
Vienna, offec. do•• •• •• 11 48
Trieste, ditto...• • • .... II 51
Petersburgh, 211. Rble.• 37
Madrid ••.. • • • • • • 50
Cadiz • • • • ............ 50%
Barcelona • • • • ........
Seville ........

92
901,4
S9l/2
29%
29'54
69
115
100

:14 p
ba
38%

93%

U.ANUE --TUESDAY.
Gibraltar.. •• •• ••
Leghorn• •••• • • •••••• 40A,
Genoa 2°

Venice.— •• ••• • • • 4i t 6
Naples • • .... • • 123%
Palenno, peroz...• •• •• 124
Messina 13
• • • • 13
Rio Janeiro • • ...... •
Ayres .. ••• • ••
New York, 60 days'sight
Philadelphia .• • • • • • • • •
pa os.
VAICES OF sux.raorr•_7 9
Foreign Gold in bars.. .gA7 0
,! '
Portugal Gold Coin •• 0
Spanish
Dollars Doubl
. . ..
o ono ••
.• 0: 05 4 101
New
Silver in bars ....,•• ••

Mr. Mtlan, the Scottish artist, is about to
picture of the battle of CallQiien._