The Sun.
London, England, 1845-10-23 00:00:00

41ONEY and COMMERCIAL NEWS
CITY, QUARTER TO THREE.

There was a very dull market for Cotton at Liverpool
yesterday, but without any change in prices. Sales 3,000
bags, viz , 350: Mack4o, at 5:34d. to 6%d. ; 100 Pernam, at
6%d. to id.; 200 Surat, at 3d. to 31/2d.; and 2,350 Ameri-
can at 31/4,d. to Gd. per lb. A moderate business was dune in
Shares, and the market opened very dull and flat, though it
af.erwards improved and closed better.
The rate of interest for advances upon what may be
termed first-class paper, remains at from 3 to 314 per cent.;
and accommodation can be had upon such approved securi-
ties at almost an unlimited extent. How fallacious are
then, the assertions made in many quarters, that
the deposits upon new railway shares mast lead to a derange-
ment of the Money Market ? As we stated yesterday,
nineteen out of twenty of the projects formed, the pro-
moters of which are in a position to apply to Parlia-
ment for a Bill next session, have bean paid upon, and
the cash " at call" when the period shall have arrived for the
payment of the 10 per cent. " caution money" into
the hands of the Accountant-General. That the
payments have been toad fide made into the
banker's hands, on account of the various . projects for
railway extension, cannot be a matter of doubt. Our Con-
tempora►y the Times finding itself in a difficulty to discover
a parallel, and to eke out the false position it has taken up on
the subject of the assumed effect likely to be produce I upon the
Money Market by 30,000,000/. or more being locked up for
months, gravely refers to the circumstance of the Bank of
England having hesitated to take the realisation of the com-
mercial assets of the East India Company, on the
winding up of the trading part of the Corporation
unless at a very low rate of interest. The amount so placed
by the East India Company (3,000,0001. or thereabouts) was
deposited at call, and the condition of the Money Market
was then far different from what it is at present. As
to any effect being apprehended of a difficult
'character, it was never dreamt of by any party till the pre-
sent moment. It was a bargain entered into between two
powerful corporations, which was for their mutual be-
nefit. To assume that the East India Directors
would have become money lenders so as to reap a
greater profit than the Bank of England offered for tempo-
rarily holding the commercial assets of this Company, is an
assumption which needs not the slightest refutation. Our
Contemporary must indeed be driven into a corner to support
the crotchet taken up that a panic is inevitable, by noticing,
in way of illustration, the bargain entered into between
the E ist India Company and the Bank of England. At
that time there were more than one discount house of high
standing which would have readily paid a higher rate
of interest than the Bank did for taking in the 3,000,000/.
in question.

There were Sydney papers to• day received at the North
and South American Coffee-house, but we do not find any
news of. interest in them. The markets were again rather
dull. The condition of the flocks is said to be very satis-

factory.
There has been a considerable amount of business done in
the Public Securities to-day, and the fluctuations have been
rather considerable. Consols fur Money have touched 97%,
then receded to 97%, and rallied again to 97%.
For the Account, the market value has been 9753 and
97%. Bank Stock was yesterday done at 207. It has
ruled to-day at 205% to 206%. The Three-and-a-Quarter
per Cents. have advanced from 984 to 98%, but Exchequer-
bills have again receded to 425. premium. South Sea Stuck
has been sold at 109.
The Foreiffn Securities are all heavy to-day. Mexican
Sock commands but 311,1, the Portuguese Converted but
571,1, Spanish Five per Cents., 26 to 26%, Grenada, 21%,
and the Dutch Two and-a-Half per Cents., 58% ; Austrian
Bonds, have realized 10 per cent. above par.
The accounts from the principal provincial share markets
are rather more favourable. Here to-day much heaviness
continues to prevail, and prices are most decidedly lower. The
I official list furnishes the correct quotations.

()zit. CLOSING
PRICES OF BRITISH FUNDS. O'CLOCK. PRICES.
Bank Stock

3 per Cent. Reduced ...... 96%1% ..t,314 - 96
3 per Cent. Consols Annuities 97% %%lAN 9714
New 3% per Cents 93%14 li 98%
Long Annuities toexpireJan.lB6o 10 11-16 13-16 10 13-16
Ditto 30 years, Oct. 10,1859 ..- 10 9-16 % 10%
Ditto 30 years, Jan. 5, 1860
South Sea Stock lO9 109
Consols for Account .... ... 97%%% 97%
exchequer Bills, 1,0001., I%d. ... 45 43 42 pm. 45
Ditto Small

ONE CLOSING
PRICES OF FOREIGN FUNDS. O'CLOCK PRICES
Austrian, 5 per Cent . ....... 110 111
Brazilian Bonds
Columbian Bonds, ex Venezuela — 171,9,
Danish Bonds, 1825, 3 per Cent — 87
Granada Bonds, 1 per Cent.
Mexican, 5 per Cent. 1837
Ditto, Account 31% i,Q
Ditto Deferred —
Portuguese 5 per Cents. —
Ditto. Account
Ditto, 4 per Cent —
Ditto, Account
Spanish 5 per Cent. 1840
Ditto, Account 2614
Ditto, Passive
Ditto 3 per Cent.
Ditto, Account —
Dutch, 214 par Cent .
Ditto, 4 per Cent. Certificates 913/4 IA

PRICES OP BUSINESS DONE CLOSING
tiAILWAY SHARES PAID. AT ONE O'CLOCK. PRICES.
Aberdeen
Boston, Stamfil, & Birm. 22s
Caledonian
Ditto Extension
Cambridge and Lincoln 11,4 5% 434 ...... 5
Chester nud 1101yhead... 15
Coventry, Nuneaton, Bir.
and Leicester ll/4 214 ... 2
Derby, Uttoxeter, and
Stafford 2%...... 2'38 2
Direct Manchester .

( Remington's)
Ditto (Rackstrick's)... WA 5544J/4 53/4
threct Northern
Dublin and Galway..... 4
tastern Counties 141. 165....... 213/4 22 2114 21%
Ditto New 4/. 16s.
East Lincolnshire
...
.. 3% 23/4 ...... ... 23/4
Edinburgh and Perth l% 4%
Glouc., Aberystwith, and
Central of Wales 1%...... 2%%..........•• 2%
Grand Union l% . 2% 2l,
Great South. and West.

.
(Ireland)
15
Gnat Northa England..loo 2171
Ditto, New ... 5 . 49%
Treat Western
Ditto Fifths
[lull and Selby
Isle ofAxholme 2% 45
13
L ucaster and Carlisle... 25
Leicester & Birmingham 225. ll p l% p
Leicester and IledfJrd... 225.
Leicester and Tamworth 495.
Liverpool& Leeds Direct 2% .. ... 338 3yB
Lpool., i\lnchstr, & New
castle Junction
London and Birmingnmloo 216 217 215 215
Do. Thirds

Do. Quarters
Ditto Extension
London and Blackwall. 16/. 13s. 4d. 914 10
Do. New - 4%14 414
London and Brighton... 50
London and Croydon, 131. 15s. 9d. 2114 . . 214
Do. Guarantctil 5 per
Cent.
Lend. & S.Western 411 6s 10d 72 70
Do. New
London and York 2% 5%% 5... 5
London, Warwick, and
Kidderminster 2% 2% ... ........ ... 2%
Lynn and Ely
Manchester and Birmin. 40
Do. Quarters
Do. New Quarters ... 2
Manchester, Buxton, and
Matlock 22s. 4% pex n..... 4% pxn
Midland... 100
Do. New
Newcastle and Berwick 5
Newark, Sheffield, and
Boston ... ......... 25/8..
North British
North Devon
Northern and Eastern... 45
Do. New
N. Kent & Direct Dover 21/2- .. 2% 4 - 4
North Staffordshire 42s ...... 4%14 p 4 p
North Wales
North and South Wales
and Worcester 2l
Northampton, Banbury,
and Cheltenham
Oxford and Worcester-. 2% . 8% 7
Portsmouth Direct 2% 4%34 5
Rugby and Huntingdon 2
cottish Central
Shrewsbury and Trent
1 Watley Union
South Midland 225....... 5 4 4
youth Eastern & Dover 33/ 2s 4d... 381 37 ......
"la Do~ No. 2.
Staines and Richmond... 1
-outh Wales ..... ... 214-- 51A 5 5
Trent Valley 2 ...... 153% 1614 .... 1614
Vale of Neath
3%
Warwick & Cheltenham 1% 2% s 1%
Welch Midland
Wilts, Somerset, and
Southampton
Wilts, Somerset, & Wey-
mouth
Yarmouth and Norwich. 20
York and Carlisle 2% ni 111.1.••
YL rk and North Midland 50
Do. Extension ll4 2514 ... ..,.
FOREIGN RAILWAYS.
Boulogne and Amiens... '8
Bordeaux,Toulouse, and
Cette (Mackenzie's)... 2 .. ...
Do. (Espelete's) .. ... 2 .... . 2 ..... ...
Central of Spain ... .... 2
Demerara ... .....
Dutch Rhenish 5
East Indian ... ..... .... ss.
. A
Great North. of France
(Laffitte's)
Do. do. (Rosamel's) 2
Ove • Yssel 413 s 4d. —
Lyons and Avignon 2
Luxembourg 2
Namur and Liege
North Jamaica... ...... ... 1
Orleans and Vierzon ... 10
Orleans and Bordeaux.- 6 .-... 101/2
ratio & LyouE(Laftitte': 1 2 - ' 21/2 . . .