The Sun.
London, England, 1856-01-12 00:00:00

COMMERCIAL INTFMTJGENCE.

CITY, Two o'CLoCK

The Liverpool Cotton Market yesterday closed
flatly at a decline of id. per lb., ou lair B.,wed
and all qualities of Orleans and Mobile, and 1-16 d.
on Surats, compared with last week's rates. The
sales were estimated at 7,000 bales, of which 1,000
Were on speculation. The committee's quotations
for fair cotton were sd. Bowed, 5/d. Mobile, and
Ed• Orleans. The Railway Share Market ruled
quiet, at a slight advance on Thursday.
The Bank of England Return issued for the
Week ending the sth instant, presents some very
unfavourable features, and has excite i considerable
attention. The bullion shows an important de-
crease, and the notes in reserve materially declined.
The other deposits exhibit a large augmentation,
and also the Government securities.

Active Circulation
Increase
Bullion
Decrease •.

£18,900,805
200,190
10,536,909
283,234
3,285,323
49.995
5,514,535
329,397
12,607,840
245,328
849,795
46,887
10,827,515
402,223
19,871,874
94,014
5,520,375
443,475

Rest..
Increase
Public Deposits
Decrease
Other Deposits
Increase
Seven-Day and other Bills
Increase
Government Securities
Increase
Other Securities -
Increase
Notes unemployed
Decrease

Commercial advices from Buenos Ayres to the
beginning of December have come to hand, giving
a deplorable account of trade in that city and the
Brazilian States generally. In that latitude the
month of November is the commencement
of the summer season, when trade is brisk,
end the demand for imported merchandise
at its greatest height. This is no longer
the case, and the. merchants consider that their
ordinary summer trade is entirely stopped. The
chief causes of this depression are the continued
Indian invasion ou the southern frontier,
and the prospect of an immediate rupture be-
tween Paraguay on the one hand, and the
confederate provinces and Brazil on the other.
These influences have completely suppressed the
spirit of commercial enterprise, and plunged many
Of the inhabitants who were important consumers
of manufactured goods into a state of indigence. At
first the effects of these actual and impending corn-
Motions were only felt in the interior, but now the
capital suffers from the inactivity of trade severely,
and there is little prospect of affairs improving for
some time to come. The amount of business done
With the interior is about the average of ordinary
seasons, but prices are quite nominal, and these
are regulated by the local markets. The arrivals
at Buenos Ayres from foreign ports are as usual,
but the cargoes they bring cannot be sold profit-
ably, and consequently the wholesale market is
overstocked. In the Money Market matters
were equally bad, and the prospect of a civil war
has depreciated the local currency. Transactions
in specie are liquidated at a great sacrifice to the
dealers, and several failures have in consequence
teen recorded. To add to the depression of mer-
cantile and financial matters there is some
apprehension of a deficient harvest, on account of
the almost unprecedented succession of heavy rains.
In the export market, with the exception of wool,
there is very little produce on hand to counter-
balance the account of foreign imports. Such is
the general state of the Buenos Ayres markets, and
accounts from those of Monte Video are, if any-
thing, still more gloomy.
English Securities have ruled rather firmer,
but the transactions have not been quite so nu-
Morons. It is expected that early next week the
determination of Russia with reference to the
Austrian Propositions will be made known, and
consequently there is a disposition among the
:peculators to await the result. Consols for
1111311eY have been at 85,1 to 86, and for
the account the latest prices are 861
The New Three per Cents. 'have been 86 to 86Q,
and the Reduced 86 to 86i. Bank Stock brought
2051 and 207. Exchequer Bills were 6s. to 35.,
4114 India Bonds 75. to 3s. discount.

Foreign Securities have remained very dull and
heavy, The Spanish Deferred have receded to
411 and 211, and the Peruvian Four-and-a-Half
per Cents. to 74. Dutch Two-and-a-Half per Cents.
Eaohange is quoted at 63. Bargains are recorded
in Russian Five per Cents. at 95, and in the Four-
and-a-Half per Cents. at 86. Turkish Six per
Cents. are 80k to 801, and at one period were as
low as 79i. The New Scrip is at 4a to 4i discount.
Brazilian Five per Cents. are quoted at 99i to 991.
Brazilian 5 per Cents. have so long been one of
`tile very highest and least fluctuating stocks that
the recent decline is difficult to be accounted for
in the face of the flourishing condition of Brazilian
finances, and the stability and well known probity
of the Government. The most probable conjecture
as to. the cause is that which ascribes it to the re-
markable advantage offered to capitalists by the
Pernambuco Railway, designed to intersect the
Principal sugar-producing province of Brazil, and
offering a minimum interest of 7 per Cent. guaran-
teed by the Government, in addition to whatever
dividend may arise from the profits, which, judg-
ing from the results of the official examination of
the plans and estimates, promise to be considera-
ble. These advantages have been the inducement
Which has led the holders of Fives to realise, in
order to invest their capital in so promising an
Undertaking, which has much of the character of
well-secured loan, without the possibility of risk,
and with the favourable difference of the guaran-
teed interest being a minimum, which may be
Considerably exceeded out of the profits of the
traffic.

The following are the nominal prices of Foreign
Stocks:—Grenada Deferred Bonds, 61 7 ; Mexican,
19 1 ; Peruvian, 73 5 ; ditto 3 per Cents., 51 3;
Portuguese 4 per Cents., 45 7 ; Russian 5 per
Cents., 95 7 ; ditto 43/4 per Cents., 85 87 ;
Spanish 3 per Cents., 383/4 39 ; ditto Deferred, 21i
4 ; ditto Certificates, 4i ; ditto Passive, 61 7.
The Railway Market has ruled heavy, and
great Northern have receded 3/4. In the other
lines, however, the fluctuation has not been of im-
portance. Foreign and Colonial lines have gene-
rally been the same as previously, but Paris and
Lyons are ss. cheaper.
Very little has been done in Mining Shares, but
Joint Stock Banking Shares have been supported.
Van Diemen's Land Shares have further tended
downwards.

BRITISH FUNDS THIS DAY AT ONE 0 CLOCK,
(From thg Otirial List.)
Bnainev• done.

Bank Stock 207 54 7
1 per Cent. Reduced Annuities B6 I
° Per Cent Consols Annuities
New 3 per Cent. Annuities
India Bonds. £lOOO
Ditto, under £lOOO 3 d
Cloneote for Account
Exchequer Bills, 24d.
eloon
973 E
Ditto Bonds, 1858, 34 per Cent 97 i
9n
Ditto, 1859
PRIOR OF FORZIGN FUNDS AT ONE O'CLO( K
Brazilian Bonds, 5 per Cent. —
Ditto Small
Dutch Exchange, 24 per Cent., 12 Guilders 63
Peruvian Bonds, 44 per Cent.
Ditt. Account 74
Russian Bonds, 5 per Cent., 1822, £ St 95
Ditto 44 per Cent
Spanish Bonds, 3 per Cent —
Ditto Few Deferred, 3 per Cent.
Ditto Account 214 i 4 a d
Turkibh Bonds, 6 per cent —
Ditto for the Account
80 791 804 4
Scrip, 4 per Cent.
Ditto New
Ditto Account ........................ .
Dividends on the above payable in London.
TWO O'CLOCK.

Consols _ .. _
_
Ditto (February) B6l
In yesterday's Listread—Sardinian Bonds 81 i

- - _
BOARD OF TRADE, IN RITRRALL, Jan. 10.—The Lords
of the Committee of Privy Council for Trade and Planta-
tions have received a
.despatch from her Majesty's
Consul at Oporto, reporting that upon the arrival of
vessels intending to enter that port off the Oporto Bar,
questions will be put to them through the telegraph at
,the lighthouse at S. Joao sla Fez, by the officers of the
"s")ard of Health' which they must answer satisfactorily,
to be admitted in to the Douro ; and that to enable them
to reply te such questions, masters of vessels ought to
be furnished with " Marryat's Code of Signals," which
R the one used at the telegraph above mentioned,—
Gazette.