The Sun.
London, England, 1845-11-01 00:00:00

etirb baton

MONEY and COMMERCIAL NEWS,

CITY, QUARTER TO TABER.

The sales of Cotton at Liverpool yesterday were 3,000 bales,
without any alteration in prices. Shares were dull, but
better in some respects. •
The advices received from the United States are uniform
in their expression that railways there, as here, are the order
of the day. This is too important a topic to let any well-
considered opinions go without notice. The New York
Herald states :

" During the period of the most extensive speculation this
country ever experienced, the people of New England invested
millions of dollars in railroads, and we are disposed to believe
that it was the drain of capital from many of those who be-
came at that time interested in these works, that prevented
the various speculative movements of the day from spreading
the ruin and desolation in that section which fell upon every
other portion of the land. The large investments in the roads,
then in a state of completion,contracted the resources of those
interested, and prevented their engaging in the specula-
tive bubbles of the day, which soon after exploded,
leaving but a wreck behind. The railroad speculation
of that period was looked upon as the snail in the fable,
the moral of which has, however, been fully exempli-
fied. The railroad speculation of the present day will,
without doubt, be even more beneficial in its effects than
the last, as it has become more general, and must operate
as a greater check upon any expansion in commercial
affairs. The immense cost of the railroads of Great Bri-
tain has required a much greater expenditure in propor-
tion to the length of road constructed,, than in this country.
It will hardly be credited that two roads, leading from the
centre of London, in length only three and three quarter
miles, cost about 11,000,000 dols. The London and Black-
wall, 1,289,0801., and the London and Greenwich, 1,026,1001.,
or over 1,500,000 dols.. per mile. These two roads,
constructed at this enormous expense, enter a city
having a population only about five times larger
than that of this city, and pay handsome dividendA,
while New York has a railroad running the entire length of
the island, about nine miles long, and costing for the whole
line no more than one mile of the London and Blackwall
Railway, that has never yet paid a dividend. The railroads
throughout Great Britain coat about three times as much per
mile as those of this country, and are kept in running opera.
Lion at nearly three times the expense, notwithstanding
which, they pay a better average rate of dividend than those
of the United States."

A reference to the Bank of England averages for the past
week to Oct. 25, makes us acquainted with the fact of a
further diminution having occurred in the amount of notes
issued to the extent of 363,2651. ; but then the notes in
the banking department having been reduced by 135,935/.,
the circulation is only affected by the extent of the
difference between these two items. The I:est
has increased by 23,492/., and the public deposits have been
diminished by 164,7571. The other deposits have been
lessened by 905,470/. The seven day and other bills are less
by 33,371/.' and the other securities show the further marked
decrease of 1,118414/. The Bullion is 189,0221. less, amount-
ing to 14,001,2631.
The Funds have been less steady, and there is but a small
business doing. Consols opened at 971,12, receded to 963 h,
and are now 97 for the first transfer day next week. Exche-
quer-bills have fallen to 395. and 365. premium ; Bank Stock
is firm at 206.
Mexican Bonds have been in some favour to-day. They
have been 311,E to 32. Brazil Stock is 8214. The Spanish
Three per Cents. bring 38.
Railway Shares have been without any material alteration.

CLOSES (;
PRICES
206
96
97
98
10 11-16

ONE
PRICES OF BRITISH FUNDS. O'CLOCK.
Bank Stock
3 per Cent. Reduced ......... 96% 96
3 per Cent. Consols Annuities 97% 963/4 97
New 314 per Cents 9814%1A
Long Annuities to expire Jan.lB6o
Consols for Account ...... ....... 9714% 97 97
Exchequer Bills, 1,0001., 1%d.... 37 39 36 38 pm. 38
Ditto 5001.
Ditto Small ... 36 39 pm. 39
CLOSING
E 8
82,4

ONE
PRICES OF FOREIGN FUNDS. O'CLOCK
Brazilian Bonds
Chilian Bonds 6 per Cent
Ditto. Deferred, 3 per Cent —
Columbian Bonds, ex Venezuela l6
Mexican, 5 per Cent. 1837 ......
Ditto, Account .... 31%%% 32 32
Ditto Deferred 17% 17%
Portuguese 5 per Cents.
Ditto, 4 per Cent. —
Spanish 5 per Cent. 1840.
Ditto, Passive
Ditto Deferred ... 16
Ditto 3 per Cent.
Ditto, Account 3B 38
Belgian 4% per Cent. 991 99 4
Dutch, 2% per Cent .
Ditto, 3 per Cent
Ditto. 4 per Cent. Certificates 92% 9234
PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES AT ONE O'CLOCK. nucEs
Aberdeen
Armagh, Coleraine, and
Portrush l%
Aylesbury and Thame.. 1%
Belfast & County Down .
Bideford andTavistock... 1%
Birmin. and Gloucester. 100 126% 127
Ditto New 17% 32
Birmingham and Ox-
ford Junction
Boston, Stamfd, & Birm. 226
Bridgewater & Minehead ... ..
Bristol and Exeter ..... 70
Ditto, New
Bristol and Gloucester 3O .......
Bristol and Liver. Junc
Bri'ton, Lewes, & Hest 2O c
Caledonian
Ditto Extension
Cambridge and Lincoln 1% 514 5 ...

6%

4%

113/4
4%
5

1%

Do. New
Cambridge and Oxford.. 1% l%
Canterbury and Dover.. 1% —
Chelmsford and Bury...
Chester and Holyhead... 15
Chester and Manchester 425.
Cheltenham and Oxford 2
Clydesdale Junction 5
Cork Blackrock, and
Passages
Cork and Killarney ... 2% —
Cork and Waterford ... 1% —
Cornwall
Coventry, Nuneaton, Bir
andteicester ...... 2
Chichester and Brighton 20
Coventry and Leicester 11‘ —
Churnet Valley
Chatham and Portsm'th 1
Derby, Gainsbro', and
Great Grimsby .....
Derby, Uttoxeter, and
Stafford
Direct Manchester
(Remington's)
Ditto (Rackstrick's)... 511 A ...—. 5141/2
Direct Northern
DireceNorwich
Dublin and Armagh
Dublin and BelfastJunc 5
Dublin, Belfast, and
Coleraine
Dublin and Galway
Dundalk & Enniskillen 2%
Dublin and Cashel
Dublin and Mullingar 2%•••••• ••• .........
Diss, Beccles,Yarmouth 1%......
I )üblin and Belfast June 5
Eastern Counties 141. 165...—.. 22% 23 22%...
Ditto New 41. 165....... 81 9... ......
Ditto Perpetual, 5 per
Cent, No. 1....61.135. 4d. —
Ditto ditto, No. 2.-2/. tl3s. 4d...
EastDereh';n andNoech 1

4%

22%
83/4 p