The Sun.
London, England, 1850-10-08 00:00:00

MONEY and COMMERCIAL NEWS.

("fry, TWO O'CLOCK.
The sales of Guiton at Liverpol )esterday were esti-
mated at 6,000 bales, and the market closed firmly at full
prices. The sales comprised 4,500 American, 200 Per-
nam and Maranham at Bd. to 84d., 300 Bahia at Sid.,
300 Egyptian at 811 to 100., 400 Surat at 54d. to 6d.,
and 70 Sea Islands at Is. 2d. to Is. 4id. per lb.—The
Share Market was firm, and prices were looking up.
The Frankfort quotations on the sth inst. were 79/ to
for Austrian Metallics. Spanish Three per Cents.
brought 35 5-16 to 9-16.

AF Amsterdam on Sunday Mexican Bonds were
quoted 29 9-16. Not much was done in other foreign
securities.

. The failure of all the Exchange Banks in Scotland,
established as they were for the special purpose of
affording accommodation upon Railway Shares, has very
naturally attracted attention, and the Banker's Maga-
zine throws further light upon the subject by certain
details of an official character. It ,is remarked that—
The fact that the former directors of the Glasgow
Commercial Exchange Company had been guilty of the
attempt to rig the market,' for the purpose of endea-
vouring to support prices, is distinctly pointed out in
the circular of Mr. Jameson, who has bean appointed
to wind up the company, dated the 15th of July last.
Such irregular practices as these, hJwover, are unfortu-
nately not the only grounds of complaint which the
shareholders have against the directors. In some cases
shares have been taken as security for advances, cra
which shares only a small amount has been paid up, And
the company has become responsible for the
calls ! The West of Scotland Exchange Company have
been prevented winding up their affairs from
this cause. The results of such mismanager4ent as we
have referred to are most disastrous to the shareholders.
Mr. George Kinnear, the manager of the Glasgow Com-
mercial Exchange Company, in a letter advocating the
interests of that company, published in 1847, says:—
I beg of you to recollect what class of people it is
who are the great majority of depositors, mostly per•
sons incapable of working, maiden ladies, widows, and
orphans—people incapable of making the most of their
money for themselves; nay, most of them, either from
their sex or their ignorance of business, hardly capable
of judging where their money is safe.' Such are the
depositors, and, Mr. Jameson says, such are the share-
holders. It is satisfactory to know that the depositors will
nitioaaely, it is believed, sustain no serious loss. The
joint-stock bank principle of unlimited responsibility of
the shareholders, shows its efficacy with terrible ear-
nestness in this instance. The shareholders will lose all
their paid-np capital, and must subscribe rateably to
provide for the deficiency. The Glasgow Commercial
Exchange Company are stated to have lost 650,0001., or
nearly double the amount of their capital; and the other
companies which are winding up, will only return a mi-
serable instLlinent of the subscribed capital to their
shareholders."
The English Stock Market is rather dull, and the in-
telligence fr,,m Hesse-Cass el and Holstein is again of a
nature to justify the impression of continued complica-
tion in those quarters. Consols have been 961 for
i beingi64 at
s. presentt
o 67 e, 9
and 6 India.
Transfer, and. are now 96j For November they have
rheaavlei a ebde :n marked
6
Exchequer-b.
BondsxcbeqnBe r5-gb. illsto
88s. premium. India Stock for account has realized 268.
In the Foreign Market prices generally are not quite
FO buoyant. Mexican Bonds have been 31} I, Peruvian
Four-and-a-Half per Cents. 80, Equador 3i, and Buenos
Ayres 58. Brazilian Small Bonds have been marked 90k.
Spanish Five per Cents. have been 15-8-, and the Three
per Cents. 384 Dutch Four per Cents. have been
88i to j, and Russian Four-and-a-Half per Cents. 97k.
Railway Shares have been very good again, and, with
rather a quieter state of things, prices are fairly main-
tained.