The Sun.
London, England, 1857-11-26 00:00:00

COMMERCIAL INTELLIGENCE.
Shr.

AND

CITY, Two o'CLom.
Accounts from Liverpool state that the Cotton
Market yesterday closed with a heavy appear- E,
*lice, but prices were without any material altera-
tion. The sales were estimated at 4,000 bales. St.
The
Railway Share Market cloSed with more ani- 25
illation, and values of all the leading stocks slightly 25
advanced. st.

The failures which almost daily take place afford I St.
abundant evidence of the general unsoundness of %
trade, and although the purifying process which it 20
is now undergoing may be ultimately attended by 20
satisfactory results, considerable inconvenience and 10
distress will be experienced in-the meantime. All
50
branches of business are prejudiced, and the longer St
the present stringency continues, the greater must 20
be the injury inflicted. Such rates as 10, St.
11, or 12 per cent. cannot fail to repress 75
basiness, and although the Board of Trade 25
returns may show a steady expansion of our 21.
"Commerce, they do not prove that it has been con- 10
ducted at remunerative rates. It may be safely ge.ti.
"'erred, on the contrary, that the most disastrius t.
losses have been incurred. These statistics exhibit 0
the extent of our trade, but afford no proof of its Set
prosperity. Amidst the devastation which the 10
money crisis is causing in all directions, there is sa:
some consolation that the Parliamentary Session is
drawing near, and that a full investigation into our St.
currency laws will take place. The commerce of St.
the country demands a reform, and even many of the 12
most stedfast supporters of Sir Robert Peel's Act NI
are now disposed to admit that some modification 16i
I absolutely necessary. Before the end of the St.
Year it is feared that numerous failures will occur, 13
although -an easier feeling may prevail, and the 20
Position of the Bank may become stronger. When tli
the St.
price of the stock is duly considered, it is rather St.
Surprising that more disasters 'have not occurred, 1.8
but it is impossible to tell how many more may yet ni
be added to the list. The daily proceedings in the
25
Bankruptcy Court, and the numerous ins•Avencies 25
reported in the Gazette, demonstrate the power St.
of the financial difficulties against which 10
the mercantile classes have to contend, but there
is one point which is now attracting general ilt s
attention, and that is the mischief which has been 50.
caused by the vast facilities which the joint stock 25
banks have afforded those who have departed from IV
the legitimate course of trade and carried on ex- 50
tensive and speculative operations. Speculation 20
has been fed by the means thus obtained, while st,
stxled trade has not been sufficiently assisted. The 50
Prices of produce have been forced up to a t
fictitious point and the collapse has seriously '
aggravated the injury occasioned by the American St.
Panic., We trust that -if the money question St.
fly discussed, that the present system of 2S„
0 t.
Ist-stook banking will also be considered. The 25'
amount of deposits which these institutions re- 50
...ee_iye should in some measure be regulated by the St
extent of their paid-up capital. Unlimited sums St.
are 10
new received, and in several cases their depo-
Bita are • -
than
seven, . eight, and nine times more 20
i.."4ll.thetr subscribed capital. The consequence 20
~:_s.that with these immense means, the 10
it'ula°_,t liberal advances are made in securities St.
the. proceeds employed in. all kinds of impru-
-20
in credit,
trading, and when there is the least reaction 10
!ri such as may be periodically expected, the St.
Most distressing effects are produced. st.
The stoppage of the Northumberland and Dur- "
'llea District Bank will, it is feared, be productive
to severe distress in the North, and trade iu the
'various towns, wherein its branches are located,
already very depressed, will be almost suspended.
During the fortnight, ending yesterday, the
an of hills drawn by the Hon. East India
Company upon the" three presidencies was as
tinder :
On Bengal £3,167 10 6
On Madras
On Bombay ...

Total £4,475 1 3
The Bank Directors have held a prolonged
dis-
cussion,Zand their meeting has not yet been ad-
ourun.
1:1110 market for English Stocks is very firm, and 10
slight symptoms of buoyancy are visible. This bal.- 5
proved tone has been produced by the statement 5
I,tlat the Bank has gained considerable strength 20_
Etitlitin g the past week,' and. that
. the next balance- iu
20
:est will exhibit 1: material increase both in the
_lO
-Mee and:rs geld. Money is , also in better supply,
ltdi'd. -1:1 the Stock Exchange loans can be on-
allied at 4 to 6 per cent. The public also !To-
re buYing, and streculators are more dis- 18
tend°Bed to operate for a rise. All these circumstances
to im 18
90} 4 prove the market. Consols have been
Z"I ii,_ and 90.1 4 for money. The account in
IT" are 90/ i, 60-i- !,sand 90i f . They are now 170
ri 4 i and 903 i respectively. -elatx The New 3 per
the - are 891 g and the Reduced, 89! g. Ex- 100
IncicLuer Bills are ?3s. discount, the Bonds, 971, and 20
20
1a 33°, ads 355. to 30s. discount. , 02
Foreignra, Stocks are rather firmer, and a moae- 20
C'a business has been transacted. Turkish 6 per 17
I3ents• are 88 88i ; ditto 4 per Cents. 97i 98 ; 20
eertz,ilian 5 per Cents., 99i " Portuguese 3 per st-
12g
LIM) 43k • nu 'an 5 per Cents., 1051 ; Sardi-
ma„ , , sin
25 " 0 per Cents., 88f ; Spanish New Deferred, wo
oe;1211ta,.11 24 per Cents., 63i ; and ditto 4 per 20
Iqi•
The
't• li • , St.
stocks o...owing are the nominal prices of Foreign.
can :-Grenada Deferred Bonds, sto 6 ; Men- 100
20
Peruvian per Cents.,
' --). Peru • 4i 75 76 •
Per uditto 20
44.1 ants., --; Portuguese 3 per Cents., 20i
1.,:l. 43i ; Russian 5 per Cents., 104 106 ; Ditto 4i 20i
z''' Cents., 941-96 • Spanish 3 per Cents., 401 41i ; 100
ditto Deferred; 2g 251. 100
100
The la
to this last week's railway receipts, ascertained up me
day, are in round figures as under :-
1857. 1856. 20
Great Western '' v
North-Western
Bouth.:.Western
Mid and Bri
land hton
12,961 12,782
20
South-Eastern
32,272 29,492
Great Northern ~ _ 17,049 17,014
21,453 23,860
Lancashire and Yorkshire .. 18,828 21,343
Bristol and Exeter • 5,271 5,509
lifit Lancashire - 5,004 5,922
Manchester, Sheffield, $ Lincoln... 9,177 9,526
North-Eastern
North. Stallard ' V
6,556 6,720
North Lend 2,290 2,063
Oxford, Worte,, & and Wolver,... 4,006 3,942
West Hartlepool ' 3,249 3,204
Edinburgh Perth, and Dundee ... 3,208 3,093
Edinburgh Glasgow
and
Glasgow ........... 5,681 5,677
_c and South-Western
0 ottisb North-Eastern 3,432 3,267
Grand Trunk of Canada
Greatr.. Western of Canada " 9,160 3,772
10,569 13,972
bee he Railway Share Market this morning has
cueert very inactivit, but an advance of about f per
;It.' 111„, aY be noticed in the value of some of the
chief ]roes.:.
- North Western, Great Western,
w -era Counties; North Eastern (Berwick), South
estern.,_ Brigbion, and. Caledonian, each im-
/Pved 6a. : .Manchester, Sheffield, and Lincoln,
..._scliued ss. ,• and Great 'Northern about it. The
t'..oreiga and Colonial undertakings were very quiet;
Northern of France, and Paris and Lyons have
tllghtly improved ; :,Great Western of Canada have
advanced about ss; ; Great Indian Peninsular and
East- Indian realise about former quotations.
Mining Share's are neglected, and rates are quite
nominal. ' .. .
Joint-Stock Bank 'Shares are steady but quiet.
London and Westminster advanced about 1/.-; and
Union of London 10s.
In, the Miscettaneous Share Market there is no
change-of importance to report,

BRITISH /CrIsIDS THIS DAY AT ONE Ii'CLOO.K.
(from he Official List.)
Be/duets dote.
$
! :-'er Cent. Reduced Anunitice 39i
4 New
tieThit llonsolo Anuaitiee 4 i
a' 90 1
iew :I par Cent. Annuities B9 d
Lim Annuities. expire Cti Jan. 1 SM..
Ditto 30 Years, expire 10th Oct., 1859 li
r Ditto 30 Years, expire sth Jan., 186 U 2 3-16
. . . 30 d
I"11. Monde, #,:lOvt;
30 35 d
r.,:iitto, undeT 2,10(10
90i i 3
w Lois ter A eVontit .
Es ..-,1.,,T iling 'h-Cle.
81000 ' - - * ' * 3 d
.... 0000000 .... 0000 'el
tb"
. o ...
00000
. 1 d
S..ii . .
..... 0
00000000000000000 • 000000000000000000
el
Factiequeiii•••• 00000 -...
onde, 1658, 3l per Cont ----•
Ditto, iiii.9
riticas
(v
;0.,: 00000000 .....
Braztuun 5 ''' r Cant, ‘ ,
11EIGN FUNDS AT ONE O'CLOCK
Portugueset nth.; .................. .....,;;:ili i 9_9i
. Ditto 1853,-3 per C.teit ..
Russian Bonds, 12522, I: Si' .. *
Sardinian Bonds, 5 per Oeiit. P"
Cent"—
105 i
SD,nish Be d• 3 eC ..
..
. ...... '' ... 881
Ditto New Deferred, 3 per .**********
***
Turku.. ...,914.1a, 6 per Cent:
********** 25
Ditto Account
** cent.,,;*
R.--; 7z in
per ***** . .....
Onto Gunranteed. 4 Cent. .. ..
...... .l 'e
'Dtvidenda on the above pa;able . in. L9oBnd7O'n.
Dutch Ex(friaw;c, 24 per etti.:- , 12 Guilders 631
Do, 4 iiitr Cent.. L'el acates• . ... . ... . ..... 964
• T WO O'CLOOE'v
Conifs6, money
ount„. VOS 4