The Sun.
London, England, 1856-02-06 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.

The Liverpool Cotton Market yesterday closed
very steadily, but without the least animation, and
compared with Friday's rates prices of all kinds
Were the same. The sales were estimated at from
7,000 to 8,000 bales—consisting of 2,000 American,
export, 500 speculation ; 40 Pernam and Maran-
ham 6-gd., 110 Bahia 50. to 6d., 500 Egyptian
61d. to 7d., 1,000 Surats 30. to 41d., 500 on
speculation, and 100 Sea Islands Is. to 2s. 2d. per
lb. The Railway Share Market was firm, and an
advance in prices was manifested.
An interesting statement of the progress of the
different railways throughout France in their ex-
tension and amount of receipts during the past
Year, and compared with 1854, has come to hand.
The aggregate of these returns shows that the
length of the railways traversing the French terri-
tory during 1855 was 5,048 kilometres. The total
amount of receipts on the different lines for pas-
senger and goods traffic was 269,258,810 f., giving
an average of 53,340 f. per kilometre. During the
previous year the distance traversed by the trains
Was 4,337 kilometres, and the receipts averaged
45,663 f., showing an increase in favour of 1855 of
7,677 f. per kilometre, or at the rate of 161 per
oat.

Accounts from Munich announce that the Go-
'rernment of Bavaria have brought forward a mea-
Sure in the Legislative Chamber, analogous to the
income tax of this country, in order to make up
tile deficiency in the revenues of the State, which
are exceeded by the expenditure. This impost will
be levied upon all persons having an annual income
above 200 florins (somewhere about 201.). When
Proposed by the Minister of Finance, this bill me t
With considerable opposition by the Legislature,
bnt ultimately the Government succeeded in pass-
ing the measure by a majority of nine votes.

Considerable satisfaction has been expressed at
the promptitude with which the financial accounts
for the year ending the 31st December last have
bsen placed before the public. It is almost unneces-
sary to say that these returns have excited much
attention in the City, as upon them opinions are
formed of the probable measures which will
have to be resorted to by the Govern-
rilent, to provide means for the outlay of
the current year. The total expenditure was
84)505,788/. 10s. 9d., and the revenue 63,364,605/.
23. Bd., leaving a deficit of 21,141,1831. Bs. Id.
This at first sight appears extremely unsatisfactory,
but it must be borne in mind that the loan for
16)000,0001., and the sums otherwise raised by the
Chancellor of the Exchequer, are not included, as
they cannot, strictly speaking, be denominated
41come. When these items are taken into
account, it appears that at the beginning of this
Year there was a balance of 3,688,6001. in favour
°f the company, besides which the Chancellor still
.aci authority to issue 3,500,0001. Exchequer Bills.
It is thus evident, however, that the amount now
atanding to the credit of the Government must be
eXceedingly reduced, and fresh financial opera-
ti°ll3 will, no doubt, be announced at an early date.
4°st parties are prepared for a large loan, as
Whether peace or war is determined upon, such a
measure is considered unavoidable.
The Board of Trade Returns, for the year 1855,
baps not been published, and are much later than
Usual.
The Funds were rather unfavourably affected at
st,he commencement of business, upon the publica-
nof the Revenue Returns, but .a rally occurred
When it was found that they wets not so un-
I,l'eurable as was at first imagined. Since then
thea' market has become comparatively buoyant, the
II" in Consols having been ± to b per cent. The
Prices for money from 90 I have advanced to 901
New
and the March quotations are 911 to 91g. The
"",el't 3 per Cents. have been 911 to 92, and the
Reduced 90: to 911. India Stock has been at
222, 2231, and 2241. Exchequer Bills are 9s. and ,
4s. discount.
The Foreign Securities are generally steady.
Russian 5 per Cents. are, however, heavy at 1042,
Turkish 6 per Cents. at 93k, rind the guaranteed
4 Per Cents. at 1001. Sardinian are firm at 90,
and Mexican rule steady at 20g. Peruvian have
4taProved to 80 and 81. There have been dealings
ill Austrian 5 per Cents. at 103, Brazilian Fives at
102LEquador at 51, Grenada New Active 20 to 201,
ditto Deferred at 6;, Venezuela 41 per Cents. at
~
48) and ditto Deferred 121. Dutch 2i per Cents.
are flat, being 64.
The following are the nominal prices of Foreign
2t°cks:—Grenada Deferred Bonds, 617 i; Mexican,
,°I ; Peruvian, 80 82 ; ditto 3 per Cents., 56 ;
Portuguese 4 per Cents., 47 9 ; Russian 5 per
ents. 104 6 ; ditto 41 per Cents., 92 4 ; Spanish
a'-'
,Per Cents., 421 3 ; ditto Deferred; 231 4,1 ; ditto
vertificates, 6 i•
The market for English Railways is quiet and
°°lo of the quotations are under yesterday's range.
laOghton, however, as well as Midland, South.
eAern, and a few others are well maintained.
°reign shares, including Paris and Lyons, Lyons
14Ild Geneva, and Antwerp and Rotterdam are at a
trifling
advance. The Colonial are in limited re-
quest.

Mining Shares remain very inactive, and Banks
are Without much alteration. Egyptian Bank are
fully 4 prem., and the Pernambueo Railway 4
131‘elli. Royal Mail Steam are steady.

84ITISH FUNDS THIS DAY AT ONE O'CLOCK.
( From the 05eiza List.)
ringinott done.
tank i , _
oc&
3 ~t
Per tent. Redr.ced A 'dimities—. . 90i 1
leer Cent. Consols Annuities 9O 1
'"
L 3 por Cent. Annuities
'rig Annuities, expire sth Jan. 1860
lad Ditto 3U Years, expire sth Jan., 1860
aSt l e,... oc c
-"%sole ?or Account
Zzellequer Bills, 2id.
£lOOO
9 4
.... ...••
400 4
Btnall
Ditto Bonds, 1858, 3i per Cent.. 97 / 8
Ditto, 1859
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
klistrian Bonds, 5 per Cent.
li razilian Bonds, 5 per Cent.
r lnador Bonds
gronada Now Active, 1i per Cent.
t.ellitto Deferred 64
: xican 3 por Cent.
Peruvian
Account 2os
Bonds, 4i per Cent.
It
Itssi-ui Bonds, 5 per Cent., 1522, £ St lO4/
Bardinian Bonds, 5 per Cent.
k Ditto Account
1341'ith Bowls, 3 per Cent —
Ditto New Deferred, 3 per Cent.
Ditto Account
TArkit.h Bonds, 6 per cent 93i
Ditto Account 93
Venezuela
Guaranteed. 4 per Cent lOO/
Bonds, 4i per Cent', 23
Ditto Deferred, la per Cent.
Dividends on lb. above payable In London.
15'114h Exchange, 2i per Cont., 12 Gull 64
TWO O'CLOCK.
Clnsols, money
Ditto, March

20
20
10
10

5
5
20
10

8 21,