The Sun.
London, England, 1856-10-06 00:00:00

COMMERCIAL INTELLIGENCE.

Flour has been dull, and prices declining since last
dates. There is a fair demand for the local trade, but
very little doing for shipment. The receipts are very
moderate, owing to scarcity of water in the West.
Wheat is arriving more freely. The market closes
dull. Southern white, 150 c. to 160 n. per lb. ; Western,
153 c. to 160 c. ; Canadian, 155;1. to 160 c. ; Western
red, 130 c. to 147 c. ; Southern red, 140 c. to 147 c.
Indian corn continues in fair demand. Yellow, 67c.
to 68c. per 561 b. ; white, 70c. to 73c.
Cotton—There has been a good inquiry during the
past week, but owing to the lightness of stock the
amount of business has not been large. Prices have
advanced ic. per !pound since the arrival of the Asia.
The sales are estimated at 7,500 bales.
The exports, &c., of cotton since the Ist of September
are as follows :—Total exports, 5000; last year, 33,000 ;
to Great Britain, 3,000 ; last year, 29,000 ; receipts,
28,000 ; last year, 69,000 ; stocks, 68,000; last year,
160,000.

Freights are still advancing. To Liverpool, for cotton,
id, to 3.16 d. per lb. ; flour, 2s. to 2s. 3d. p.9r barrel;
grain, 9d. to 10d. per bushel. To London, flour, 2s. 6d.
per barrel ; grain, Bid to 9J. To Havre, cotton, ie. per
lb. ; flour, 70c. ,to 75c. per barrel ; grain, 180.. per
bushel.

Exchange on England has been in very moderato de-
mand 'at 1091 to 1091 per cent. Bills on France, &f.
15e. to sf. 181 c.

Money is in demand, but sufficiently abundant for
sound commercial purposes. Stocks are depressed, the
recent rise baying been succeeded by a decline.

The following letter has also been received :
NEW YORI, SEPT. 23.
It seems to be pretty well conceded on all sides
that Dame Fortune has turned the wheel far
' enough round to bring the friends of Fremont up-
permost in Pennsylvania, so far as the chances for
the October election are concerned. The Repub-
licans reason that it will be an indication of the
Presidential vote in the following month ; that a
decisive victory in October will not only insure a
triumph, but a rout of the Administration in No-
vember ; that the influence will extend to other
States ; that the Fillmore party, who are strong
enough in New York to be formidable even alone,
and still more so if uniting with the friends of
Buchanan, will be disorganised by the defeat of
Buchanan's supporters in his own State I and that
in the doubtful States of the West all doubting f
men, all waiting voters, will 'be sucked into the
vortex of Republicanism. On the other hand, the
Democrats reason that if the State of Pennsylvania
is carried for the supporters of Mr. Fremont
by aid of friends /of Mr. Fillmore, the union
between the two will be dissolved by that
election ; that when they separate and vote for
their respective candidates for the Presidency the
result will be different—Fremont's vote will be
diminished below that of Buchanan, and the vote
of the State thus given to the latter ; that the in-
fluence on the vote of New York will not be such
as the friends of Fremont anticipate ; that
the friends of Fillmore in New York being
more friendly to Buchanan than to Fremont will
vote for the latter if they see that his election is
seriously imperilled, and that therefore an unfa-
vourable result to Buchanan in October will insure
a favourable issue in November.

Another movement in our local politics also may
i have a decided effect upon the national result.
`; This State is to elect its Governor on the same day
that it chooses electors for President. The Repub-
licans have nominated Mr. King for the office, and
the New York Herald has taken exception to the
nomination, and lends its influence and support
(which is undeniably great) to the democratic
nominee.
The new Governor of Kansas has entered upon
the duties of his office with an address full of peace-
ful professions and exhortations to the settlers to
cease strife, to lay down the sword and resume the '
plough. But it recognises the Missouri Legisla-
ture, and points to that as the only means of relief. 4
When it is remembered that one of the qualifica-
tions of an elector to vote upon the choice of mem-
bers of this Legislature is an oath to support the
Kansas Nebraska Bill, the Fugitive Slave Law,
and the acts of the territory, it is plain that the I
Free State men have little to hope for beyond the
right to get possession of such of their property as
has not been destroyed or carried away by the in-
vaders.
Robinson and the other State Prisoners have
been released on bail, and thus for the moment ,
peace is restored in Kansas.
Mr. Corwine, the commissioner sent to Panama
to report upon the Massacre of the California pas- '
sengers, concludes his report with a recommends• /
tion that possession be taken of the Isthmus.

LOSS OF THE ROYAL WEST INDIA
MAIL STEAMER TAY.

A telegraphic despatch was posted late on Saturday
at Lloyd's, announcing the loss of this splendid steam-
ship, one of the fleet of the Royal Mail (West India )
Steam Packet Company. The intelligence was brought
by the Arabia steamer, which arrived yesterday forenoon
at Liverpool, from New York, and from the account
brought by her it appears that the Tay was lost on the
30th of last August, on Lopez Islands. Happily, all her
passengers, crew, and mail were saved. The Tay was
1,858 tons registered, and had engines of 440-horse power di
She is supposed to be insured.

THE GREAT WROIIGHT-IRON GIIN.—We were enabled
last week to announce that a series of trials were to be
made on Wednesday, the Ist inst., at Shoeburyness,
with the monster wrought-iron gun manufactured by
the Mersey Steel and Iron Company. The experiments
were conducted under the directioa of Colonel Mitchell,
in the presence of the select committee of Artillery
officers from Woolwich. They were eminently suc-
cessful. The practice consisted of about 27 rounds with
solid shot and heavy charges of powder, the range, with
18 degrees of elevation, and a charge of 50lb. of powder,
exceeding at first graze 5,000 yards. We have not
yet had information as to the range obtained in each
round, but we believe all were exceedingly satisfac-
tory, being far superior to anything ever obtainei
by the ordinary guns in her Majesty's service.
The line of fire was also most admirable, the shot fol-
lowing each other with surprising accuracy. Mr. W. J.
Horsfall and Mr. W. Clay witnessed the experiments, as
representing the Mersey Company. Since it was last
tried a new and very beautiful carriage has been made
for the gun, combining the recent excellent appliances
introduced by the Woolwich authorities, and which ren-
dered the working of this immense weapon of destruc-
tion as easy as that of an ordinary (38-pounder. Some
experiments were also made with various descriptions
of riled guns, including the celebrated weapon by
Whitworth, of Manchester. On this occasion it
seemed to 'answer admirably. We understand that
the Mersey Company are now engaged in mak.
ing another wrought-iron gun, but of what size
and for what destination we have not heard. This
trial comes at an opportune moment, when the ques-
tion of introducing larger pieces of ordnance into our
men of war has received much attention, owing to the
presence in the Southampton waters of the American
frigate Merrimac. Her guns, which are 11-inch bore,
are of such a formidable character that it is believe-a
our most vaunted ships of war could scarcely cope with
her. In the event of an engagement with a vessel of
nominally greater strength she would be able to keep at
a distance which would prevent the risk of being
boarded, while she would be able to direct a destructive
fire against her opponent. Surely it is time for Govern-
ment to consider the necessity of keeping a-head of
other nations in those matters which have made her
rodstrou of the seas.

BTONEY MARKET

:101VEYIERCIAL INTELLIGENCE.

CITY, Two o'Ctoot.
ThLe Liverpool Cotton Market on Saturday closed
with much animation, and prices of American de-
Scrip lions were a shade dearer. The sales amounted
to 10,000 bales, 1,000 of which were taken by
the (Ixporters, and 3,000 by the speculators, com-
Prieb xg 600 Egyptian, at 64d. to Bid ; 2,000 Surat,
'lid. to 54d. ; and 60 Sea Islands, is. to is. 9d. per
lb. IL'he Railway Share Market closed quietly, and
price a of the leading stocks were rather easier than
011 Friday.
A, :counts from Leipsic state that the autumn fair
'whic lh commenced on the 20th ult. had attracted a
larg,3r attendance of foreigners than in former
Year a. A number of Turks and merchants from
the Danubian principalities were present, and
rntilei) 7 purchases of winter goods had been numerous.
The) 'e was an absence, however, of several of the
4111€ irican purchasers who usually attended.
0( nnmercial advices from Paris state that the
raising of the rate of discount by the Bank of
France had produced much activity in all branches
of tr ade. The retailers, however, are still reserved
In th.eir purchases, and restrict themselves to sup-
Plyir ig their immediate wants. At the same time
tiler( 3 is every appearance of a vigorous trade being
(lone this season. The manufacturers have received
few orders from the provinces, but the foreign
agell ts, now at Paris, have given large commissions
to tt Le principal houses. The present high rates of
exchange are much felt by the manufacturers, as it
diminishes their profits.
Tl'ais:is particularly the case amongst the woollen
and silk manufacturers, who have also to pay high
rate u of wages in consequence of the dearness of
Provisions. The prices of woollen fabrics have
not ;altered, but the increasing demand for inter-
taeditate qualities is expected to advance the quo-
taticnis of that class of goods. In silks no further
rise has taken place in the price of the raw mate-
rial, although it is said to be getting scarce in the
Itarlirets of the Drome and Ardeche. The want of
eaah, however, checks any upward movement.
Many large speculators who had made purchases
at the lowest rates many months ago are now
realising their profits, but without pressing sales.
Tl ie New York accounts, received by the Arabia,
report an active demand for money, but no pressure
seem sto have been experienced. At the same
time the opinion is expressed that a period of
greater stringency is not far distant. In October
an immense amount of capital has to be employed
in commerce. The importations continued on an
extepsiv e scale, and the movement of the crops
would ere long augment the demand for money.
TWlasi; weekly return of the City Banks showed
an flier ease of $135,659 in the loans and discounts,
ituda decrease of $10,702 in the specie.
A,- further advance in the minimum rate of dis-
count at the Bank of England !
authorities at the Bank of England are evi-
dent t; r much perplexed at the present condition of
the to oney market. Last Wednesday their terms
Were i ncreased from 4i to 5 per cent., and to-day
it sf.'a nnounced that the rates are now 6 per cent.
having 65 days to run, and 7 per cent. for
discos
of longer date. This gives evidence of a very
I,iecol ['raging state of things, and there can be no
doub t that it would have been far better had the
tug, been raised last week at once to si or 6 per
~cerit These frequent changes create uneasiness,
nt ; alarm, and tend to increase rather than allay
the crisis against which they are directed. It
,teq be mentioned that the measure adopted
;41V morning was quite unexpected, and
t consequently had a marked effect on
me,. Stock Market. Although the demand for dis-
coon ts at the Bank of England, during the last
two ( nr three days, has not been excessive, large
11,olca tots of bullion have been withdrawn on Cou-
rt Ltal account. There seems a very unsettled
ig with regard to the future, and the present
Orin
gency is expected to continue for some time to
eeok4 The effect of the enhanced terms upon
trail' c will, of course, bo prejudicial, but the coml-
"). > )eing in a prosperous state less inconvenience
rs 1.1.1 rely to arise than would otherwise be the case.
IT; le Stock Market has, of course, been agitated
hY t he further alteration of the rate of discount.
Ccoll sole opened steadily at about 92i for money
434 the Bth inst., but they soon afterwards dropped
!_o 1.4 1, when the measure of the Bank of Eng-
allllll was announced. They are now depressed at
4001 it 911 for money, and 911 for November.
hequer Bills have receded to 10s., 75., and ss.
prep aium ; and the _Bonds are 99i.
usiness in the Foreign Market has been almost
anfiS ended, prices having been affected to some
nt by the decline in the value of Consols.
4111`' Irish 6 per Cents. have declined to 984 994, and
the 4 per Cents., 100 to 1004, being a decline of
4' at Ito 4 per cent. Brazilian 5 per Cents. are
; and ditto Rothschilds', 1001. Chilian 3 per
Ce its. realise 71. Russian 44 per Cents. are 96k,
844 the Small Bonds 97. Sardinian are 91± ;
nish 3 per Cents. brought 424, and Dutch 4 per
Con it. Certificates, 954.
7 'he following are the nominal prices of Foreign
cks :—Mexican, 221 to 224 ; Spanish 3 per
eel its., 42 43 ; ditto Deferred, 24± 244 1.
the Railway Share Market a good business
has been done, although prices have sympathised
h the fall in the English Securities. Caledonian,
Lancashire and Yorkshire, Brighton, South-
We stern, Midland, Norfolk, North Eastern Ber-
trak, and South Eastern declined 10s. to 15s. The
otti er lines were also rather lower. The Foreign
Mil Colonial lines were also in moderate request,
at slight reduction on previous rates.
,Joint Stook Bank Shares are neglected, and
prig 3e5 are quite nominal. Ottoman Bank are 74.
1:n the Miscellaneous Market very little business
bac been transacted, generally at lower quotations.

50
1,61
161
St.

St.
20
10
124
St.

B$ ITISH FUNDS THIS DAY.—CLOSING PRICES.
(From, the Officio,/ List:
3 ,er Cent. Consols Annnities
.. Brisfnesr. dons-
-92 Ins lift Bonds, .21000 •
9 p 1g
)itto under £lOOO
isols'for Account
ficchequer Bills. 24d. 92f 14
£lOOO
7 10 5 10 11
£560
p
• Rmall ......
:Ditto Bowl 7 12
Bonds, 1858, 34 per Cent . 994
13 6
I)ttto, 1859
991
PRICES OF FOREIGN FUNDS THIS DAY,
131 arilian Bonds, 5 per Cent. .. .
:Ditto 5 per Cent. (Rothscl;ild's)
Milian Bonds, 6 per
....
Cent.,,, ...
..Ditto 3 per Cent.
BL'xicati 3 per Cent
uitto Account. ......
Peruvian Bonds 44 per Cent.. ..
2i
Ditto Account
Portuguese Bonds, ..
per Cent., Con.
Ditto 1853, 3 per Cent ..........
11-assian Bonds, 1822, St., 5 per 6"i
'Ditto Account
.....
Ditto 44 per Cent. ...... ............ ...
064
Ditto Small
Sardinian Bonds, 5 per Cent. ............. Olt
Ditto Account
Spanish Bolds, 3 per Cent
Ditto Account 42i
Turkish Bonds, 6 per cent
Ditto Account
99f
I)itto Guaranteed, 4 per Cent.
i
Ditto Account lOO 100
Dividends on the above payable in London.
Dutch Exchange, 2.? per Cent., 12 Guilders 64i
4
Ditto 4 per Cent. Certificates
THREE O'CLOCK.
Console, money 9l}
Ditto, account, October 8

it 23

CONNECTION BETWEEN SIDNEY AND PANAMA. —The
Royal Mail Steam Company hare issued a circular to
their shareholders, proposing to establish the long de-
sired connection between Sydney and Panama-
They
recommend a fleet of auxiliary screw steamers, and cal-
culate upon a satisfactory return, not only from a pas-
senger traffic from England, but also from the United
States, as well as by obtaining postal allowances from
both countries. The line will also possess the advantage
of being of incalculable importance to New Zealand. It
is calculated that the entire voyage could be performed
in 55 days, and the constant experience of the way in
which the Australian arrivals Via the Cape have been
anticipated by letters brought by transient sailing
vessels to Peru, and thence tansmitted across the Isth-
mus, tends to warrant this conclusion. The capital
necessary is 400,0001., and this is suggested to be raised
partly by an issue of new shares of 20/. each, and partly
by debenture. The departures would be monthly, and
would be fixed between the times of the Suez line, so as
to some a fortnightly communication.

50
at.
Bt.

100
100
20
10
20

10
20
20
20

too
too
100
20
20

25
20
100
10