The Sun.
London, England, 1850-06-25 00:00:00

nONEY and COMMERCIAL NEWS

CITY, TWO O'CLOCK. I
The Cotton Market at Liverpool yesterday was firm
and ord and mid American were id. per lb. dearer; other
descriptions remain without alteration. The sales were
estimated at 10,000 bales, of which 2,600 American
and 500 Surat were taken on speculation. The transac-
tions comprised 6,000 American, 1,800 Pernam and
Maranham, at 71d. to Bd, • 400 Bahia, at 7id. to lid. ;
800 Egyptian, at lid. to 9d.; and 1,000 Surat, at 4ich
tendency
to sid. per lb.---IRpairliwee,sy Shares were flat, with a down-
ward.
Upon the state of the Dried Fruit trade, we have the
following information from Messrs. Witherby and Han-
son :—" The quantity of currants imported into London
from the commencement of the season till this date has
been, as mentioned in our last, 10,800 tons, against
14,550 tons, and 10,650 tons to the like period of 1849
and 1848, showing a falling off in the importation this
season of 3,750 tons, as compared with last year to the
like period. We now require about 3,850 tons to bring
up our importation to the total quantity received last
season, and 1,400 tons to make them equal to those of
the previous season. We have still to report a diminu-
tion in the London clearances for home consumption, as
compared with former seasons—those from the 19th
ultimo to the 18th instant having been 660 tons against
810 tons in 1849, 850 tons in 1848, and 350 tons
in 1847 during the like period. At Liverpool,
on the contrary, they continue to show a progressive
increase upon those of 1849, as has been the case in
each month in this year, with the exception of January,
It is possible that the deficiency in the London delive-
ries may eventually be made up by an increase at she
fail of the year. Whatever may be its real cause,
whether it arise, as some think, from distress in the
agricultural districts; or as others, probably with more
correctness, from the cheapness of meat and provisions,
it is obvious that the advance in the price of provisions
here, and here only, in Jsnuary last, has mainly led to
it, precluding, as it has done, the London wholesale
houses from devoting that attention to the article which
it invariably commands under the circumstances of ordi-
nary encouragement The total sales of the month have
not been extensive. Within the last few days there has
been more disposition on the part of holders to meet the
purchasers, and lower quotations have in some instances
been submitted to, in consequence of which we have
reduced our quotations, some of which, however, in the
present unsettled state of the market, must be considered
as almost nominal."

We have entered so fully upon former occasions into
the question of Mr. W. P. Robertson's mission to Mexico
that it is perhaps only an act of justice to notice his
reply to the last report of the committee of the bond-
holders, intended for the consideration more especially
of those who will be present at to-day's meeting. After
going somewhat into detail, Mr. Robertson adverts to
the cotton licences, remarking that the 25,000 dollars
be received were for commission, and not as a present,
and proceeds thus: " Then it amounts to this,
we cannot find that the bondholders have lost
a penny by the conversion of cotton licences into
cash, and Mr. Robertson has received the brokerage
on the transaction. If it could have been added that
Mr. Robertson had been so amply provided with money
to defray his expenses on behalf of the bondholders, and
so liberally remunerated in his office of " Special Com-
missioner for the Mexican Bondholders," that it was
derogatory to that high and highly remunerated cha-
racter to accept payment for a collateral transaction,
the acquittal might not have been complete. But, gen•
tlemen, this is the transaction which has been pared ed
before you; thus, cotton licences, the absolute property of
the bondholders, worth 680,000 dollars, every farthing
of the money, sold by Mr. Robertson for 250,000
dollars, absolute profligate loss, by his unauthorised
agency,43o,ooo dollars; is he to be paid for such services!"
How tame and quiet is the answer of the sub-com-
mittee:—''lt appears difficult, if not impossible, to ascer-
tain in London the value of the cotton licences in
Mexico." Such are their words. Gentlemen, do you
believe that • they are worth 680,000 dollars ? Do you
believe from all you have heard, that they were or are
worth, except to be sold by a slow aura speculative
process of retail, impracticable for the bondholders (and
from which, or from an equally slow use of them by
himself and his partners in his business, Mr. Escardon
of course expects his profit) a farthing more than they
have been sold for? I have already explained these
matters at considerable length in a pamphlet, in which
I will beg you impartially to refer. As to the
25,000 dollars, your committee appear to have
better evidence than I that I have received them. I
have not yet been able to discover that fact; and inas-
much as I never have wished to obtain, in any form,
more than a reasonable compensation for my time and
labours in or in connexion with the transactions with
the bondholders in Mexico, I shall cheerfully regard
whatever I may derive from that source as in reduction
of my claim for a fair and liberal compensation fur my
outlay and exertions in their service."
The suspension of the small banking firm of Nash and
Neale (the Reigate and Dorking Bank), has excited
some surprise, the placidity of the money market not
allowing of the assumption that it could have resulted
from recent losses. The immediate cause is in fact
stated to be the overdrawing by 16,0001. to 17,000/. of
Mr. Neale's private account; another unfortunate ex-
ample of abuse of confidence. The liabilities are esti-
mated at about 60,0001., and Mr. Joseph Nash's private
estate, it is said, will, with the other assets, afford a
handsome dividend, if not payment in full.
The Funds have been rather heavier, but the tran-
sactions aro not important, and until the debate in Par-
liament has progressed further, so as to give an inkling
of the intended votes, no bold course of action on the
part of the speculators is to be looked fur. Consols
have realised 96 to 96k. The New Three-and-a-Quar-
ter per Cents. have been 98k to 97-k, and the Three per
Cents. 968 to 968.
Brasil Bonds are about 88 to 90, and Peruvian Active
78 to 781. Dutch Two-and-a-Halt per Cents. are 58.
Not much has been done in Foreign Securities generally.
Mexican Bonds. have been 291 to 298. The meeting is
looked to with cansiderable interest, and is now in pro-
gress. Spanish Five per Cents. have been.l7l. Russian
Five per Cents. have been 109 k, and the Four-and•a-
Half per Cents. 971. Portuguese Four per Cents. are
348 to 34*.
In Railway Shares no particular alteration has co-
curred.
QUARTER TO THREE.
Consols shut.
Ditto Account ... ••• 96 96*
BRITISH HINDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
2G9
Bank Stock
1
3 per Cent. Reduced Annuities 4V5,4 961
%4
New 3% per Cent. Anus.
988
8971 11
d
ILnoniga
Stock Annuities, ties, Exp. Jan. sth, 1660
Do. Bonds, 1000/... .............. 85 89 p
Ditto under 1.000/....... BB p
Consols for Account ..... . ........... . 96 961/8
Exchequer Bills. I%cl. 21.
march. Jana.
1,0601. ' 66 69p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK ,
atexican 80ni5,1846,5 per Cent., Coupons
Ditto Ex Jan. Coupons
Peruvian Bonds, 41-At per Cent 7B 78
Ditto Deferred
Portuguese Bonds, 5 per Cent
Ditto 4 per Cent.
Russian Bonds. 1822, 5 per Cent 10914
L Ditto 4% per Cents 9734
417%
AT 26085f.NE600se.Locic
Dividends on the above payable in London.
Spanish Dittolit t e Bonds,lcScripe Account
ust"
.r C. n ...
941'. 21p
French Rentes, 5 per Cent.
Dutchnge
Epxo Ne hE2a par
A. C.
I.
Le- Cent.,
yl2. n A
it
E.611:11. :
BITSINES IN
RAILWAYS. PAID. PEI Saila.
;".aledoni an .. ••• 83/.«... to •-•
Eastern Count;es
Do. New Pref., 6 per Cent.. 10'
Do.Exten.,6 per ct. No. 1,6/.138.4d — p..... to
Do.. do N 0.2,6/. 13s. 4d.. % p... to
Eastern Union, Class A (late
E. U. Shares)
Ditto Scrip (gua. 6 per ct.) 20 -
East Lancashire
Exeter, Yeovil, & Dorchester 2% l4 to --
Great Northern . -
Groot Western ..100 59
Do. New 17/
(lull and Selby
Dittoatarter Shares 214 2l ...... to