The Sun.
London, England, 1851-12-04 00:00:00

24 (zonal Pricer.

Anglo Californian .. • •
Asturian .... • • • • • • • • • •
Australian ••..•• • • •• •
'Etarossa Range .. • • ....
Brazilian Imp. (is. 5/. p..)

1i - 3i P

IN -2%
834 -8%

Do. Cocaes. and Culaba
Do. St. ,Tobn del ltey
Cobre Copier . ••
Coplapo ..... .• • ••
Genera 1...............
Mexican & S. American
N uveau Mnide • •
deal Del Monte, Unreg.

20% - 21
33 - 34%
syo— 7%
13% 14
3% -4%

ii -=ii

Do. Black Dc6entures

Do. Red Dabentures
Aantiago do Cuba ......
Tin Croft .. • • •• •• ••
United vexican
Wait Mariposa ••
lOINT

4 - 37
-8
3 -2
1 - 7
E.A.NKS.
37 -38 K
45 -46
10% -- I I
25 -- 26
18% - 17-%
28% - 29)4

nr tral .. • . • • • • • •
British North America..
Colonial •• ..•• .• .
Commercial of London..
London Joint Stock ....
Lonlon and Woetminster
National Provincial Eng.

D. Now ...... • • ..
gational of Ireland ....
Oriental Bank Corporat.
rrlvincial of Ireland—

tSN - 17%
27 -21 X,
42 -- 44

Do. New ......
Union of Australia

15% 16%
35 35%
a
15%

Union of London •• •• •
'Tninn of Madrid •

15% 34

CEIE.:
3234

Canada .
Gen. Steam Navigation .
& Oriental Steam.

6.A.NEOUS.
48 49)4
2734 —2B a.d
69 70%
18% - 17
79)4 80%
Le errors of tae Official Lists,
correspondents.]

Ditto ditto
Royal Mail Steam .. • • ..
f We cannot be answeral
will not be influenced by

ible for th
interested

MONEY and COMMERCIAL NEWS

CITY, TWO O'CLOCK.
The sales of Cotton at Liverpool, yesterday, were es-
timated at 5,000 bales, including 200 Pernams and Ma-
ranhams at 544.1. to 60., 100 Bahia at 6d., 360 Egyptian
a 541. to 60., and 600 Surat at 24d. to 341. per lb.
The market closed tamely.—Railway Shares were flat,
at lower prices.
The six weeks' average price of Wheat is 365. 7d. per
quarter.

The meeting held yesterday afternoon of parties in•
terested in a reform of the Board of Customs was one
of the moat numer•ius and respectably-attended that has
occurred fur a long time past, and this, considering the
frequency of similar assemblages, and the unfortunate
necessity for them, is saying a good deal. The amount

of commercial reform demanded at the hands of the
Legislature may seem large, but every practical man
knows that it is even less than the exigency of the, case
requires. We would ask who in the present day can
feel satisfied with the tardy system of clearing goods or
getting redress, and what hope there can be of keeping
pace with the increased facilities of steam and elec-
tricity, when the same tedious processes are adopted as
existed years since? Ever since free trade became a
part and parcel of the English commercial system, it has
been felt that the bonding, the transit, and the landing

arrangements were deficient. If instances were wanting,
the periodical statements furnished by the committee
formed to promote Customs' reform would give them,
and the evidence before Parliament supplies any defici-
ency. The suggestions now made for remodelling the
Customs will be susceptible of amendment perhaps, but
they afford an excellent basis, and if Mr. Williams's
plan be adopted, of appointing a highly experienced
man as a head of the Revenue Department, with a seat
in the Commons, we shall no doubt have grievances at-
tended to as promptly as they are brought under notice.
The reform of our commercial code is not alone in
connexion with the Customs an object of attention, but
extends to the bankruptcy and partnership laws, to say
nothing of the more organized movement for a general
amelioration by the establishment of tribunals of com-
merce. Mr. F. M. Hamber has compiled from the
French code the articles that bear upon the
law of partnership, and these explain fully the difference
in the terms of collective partnership, which answers to
that of most firms here and the Commandite, which is a
mixed partnership of persons liable for all the engage-
ments, and of one or more persons who merely leave a
certain sum embarked, and are not liable beyond that.
The Anon yme system applies to companies, and the di-
rectors are only liable for the execution of the manda-
tory office they have received, and their partners to the
loss of the amount of their interest in the concern. We
have certainly heard among City men some plausible ob-
jections to limited liability, and the necessity of protect-
ing the public is not to be lost sight of; but there are
various checks that might be adopted to give security,
and it is to be hoped that the evil of insolvent compa-
nies, or " abortive schemes"—as the Masters in Chan-
eery delight to style th© harassing railway cases dragged
through the iading-up forms—would be carefully
guarded against, otherwise credit would be curtailed and
confidence weakened. _ _

Extraordinary excitement still prevails in the City,
and groups are formed by passers-by wherever an indi-
vidual is descried with a late newspaper in hand.
Ravin witnessed the excitement occasioned by pre-
vious continental revolutions as the news arrived here,
we may unhesitatingly affirm that it does not fall short
of what was then felt. The fact that the electric telegraph
is almost wholly shut against private expresses, the news-
papers and parties of influence on the Stock Exchange
giving full employment to it, keeps every one in a state
of anxiety until the journals are published, but the
latest report is that at half-past nine this morning Paris
was tranquil, and that the Five per Cent. Rentes had ad-
vanced to 92 50 in the Coulisses: this is a mere rumour.
All business operations between this and the Continent
are paralyzed, and an injurious influence is also exer-
cised upon the mercantile markets here.
The Stuck Market opened with considerable firmness
this morning, Consols having reached 974 but they
have gone back since, and are now 97i 1. In the belief
that Louis Napoleon was proving successful, large money
purchases have been made this morning, and there
seems every disposition to support the market, although
it is admitted that the crisis is unusually serious, and-
that a trifling incident might lead to immense
changes, and a marked reaction in Public Securities.
Generally capitalists are distrustful of revolutions, and
too prone to consider that a despotic Government is ne-
cessarily strong, forgetting the smouldering elements of
discontent that it nurtures; but in the case of Louis Na-
poleon public sympathy is with him on other grounds
than those of his presumed ability to preserve tranquil-
..

lity. The New Three-and-a• Quarter per Cents. are
971 to 98k, and the Three per Cents. 96i to Exche-
quer-bills have been lower, 48s. to 51s. premium. Any
action by the Bank in reducing the rate of discount is
of course out of the question just yet.
Foreign Securities have maintained their ground well-
Spanish Five per Cents. are 19i to 20k, and the Three
per Cents. 38} to 39. Sardinian Bonds have been 79
to 80, a rise of 2to 3 per cent. Mexican Stock is still
heavy at 231 to 234. Dutch Two-and-a-Half per Cents.
have been 58.
Railway Shares have been looking well, all things
considered, and there is a good deal doing, the traffic
being satisfactory.
The last week's railway receipts, ascertained up to this
day, are in round figures as under:-
1851.

Great Western
North-Western
South-Western B,BOl
Brighton
Midland ... 21,436
South-Eastern
North Stafford 4,614
Caledonian 7,613
Great Northern 10,360
Lancashire and Yorkshire
York and North Midland ••• 8,094
Newcastle and Berwick 12,078

1850.
... £13,119
... 38,308
... 8,575
... 8,112
... 20,235
... 9,356
4,351
... 6,876
... 6,140
... 15,145
... 7,427
... 13,665

___ • _
ONE CLOSING
PRICES.
96%
3 per Cent. Reduced Ant?: 97%74 1,4 34 % 97%
PRICES OF BRITISH. FUNDS . 0%.191",60C1A2K97%
3 per C3nt. Consols Annuities.* ;,•,,i .•7/ 5z 8 7% 8%, 73/43, %
I..Newong3A Anne. 7
7 3-16 5-16 7 5-16
15-16 7
Ditto 30 years, Jan. 5, 1860.
261
264
rtoCeexntp.irtnaisin ....... is „46
India Stack ...... .. _
India Bonds, 1,0001.—.••••• 5B p
Ditto under 1,0004. ............ ...- 97% yX, 1/2
Consols for Account l3 d.
tCr.ehequer Bills.
1,0001.
5001.
Small. ..
ONE
PRICES OF FOREIGN FUNDS. O'CLOCK.
M mean, 5 per Ct., ex Jan. Coupe.
Ditto, Account . .
Peruvian Bonds, 5 per Cent.. —
Ditto, Account
Ditto, Deferred
Portuguese 5 per Cents.
Ditto, 4 per Cent.
Ditto, Small
Russian Bonds
•••
Ditto, 414 per Cent ..
10234
Sardinian Bonds, 5 per Cent.
Spanish 5 per Cant. 1840
Ditto, Account
Ditto, Passive 5
Ditto. 3 per Cent
Ditto. Account
Dividends on the above payable in London.
Dutch 21/ per Cent. 12 Guild 5B
Ditto 4 per Cent. Cortiticates

48 p
48 p
CLOSING
PRICES.
23%
23%

1031 A
80 ex d.

SCOrnsH CENTRAL Ran.wAy.—Tratlic for the Week
ending Nov. 30, 1851 :
Passengers (8,203), parcels, horses,
and carriages ....
Goods, cattle, &c..,

... £778 3 8
••• 863 5 7

Total .. . 1,641 9 3
Corresponding week in last year... 1,477 2 6
Perth, Deo. 2, 1851,