The Sun. — London, England, 1859-03-05 00:00:00

THE SUN, 140 .- 141) I MONEY MARKET AND CITY NEWS. I .4. SIIARE MARKET.—( THIS DAY.) _ FOREIGN. CITY, Two o'CLocK. Closin. I Business 4- + the . ORDINARY SHARES AND STOCKS. Railways. I Paid. _.... Price.' Done. andPaid.i Closing Business The Bank of England's weekly return, com- Sharel Railway s. Price. • 10 'Antwerp & Rotterdam all 41 51 i the pleted to the 2d March, shows some rather impor- _ • I --- - 20 Ardennes all - - p ai 0 Antherg., Notting. Bost. ham taut changes. The other securities, owing to the and Eastern Junction 10 5 6/ 20 Bah.&S.Fran.,Lim.7p.c. 3 / 1 d 5 Belgian East. Junction all I E ance Preparations made for the commercial payments on 50 llelfaat and Ballymena.. all 2 - _ 13.14 13ir., Wol., and Str. Val. all 71 8 1 0 Beziers to Graissessaa all --- - I re- 5 Carmeaux Mine & Rail all 1, 21 the 4th of the month, usually heavy at this period Stoek Birk., Lane., and Chesh. Junction lOO 62 14 20 Dutch Rhenish e-of- 6 Eastern of France halfOf the year, show an augmentation of over 25 Blackburn - p ~ WI. • 25 Blyth and Tee all 31 V 20 Great Central of France all - a ' million, and the reserve of notes Stock Bristol and Exeter 20 Gt. Luxem., Con. shs.. all 61 61 ock- 100 841 85 841 / 10 Italian Junction .. -... 8 - - h as been trenched upon to the extent of Stock Caledonian Stock Chester and Holyhead - ting about a quarter of a million sterling. The 50 Cork and Bandon all • - iddi- Public 20 Cork, Blkrock,&Passage all - - 20 Lierre and Turnhout._ all - - 20 Lombardo Venetian.... 8 1 3pB/ 3 iths, half deposits have been augmented by nearly 20 Cornwall A rcves. no div all 43 si 20 Lucca & Pistoj a, 5 p.c.pf. all - 162 • , a million, but the private balances show a 10 Do. A Do. B untilGp.c.per an. all - - 20 Lyons and Geneva .... all - - 10 i all - - 331 Maria Antonia all - - large diminntion. The bullion, in consequence of hasbeep pd.toß. 20 Do. do. New - - 50 Dublin andßelfast June. all - - 20 Namur and Liege all 81 8a ster- the non-arrival of remittances from Australia and 25 Dun.,Perth,& Abr.Junc. all 83 9 3 20 Do. do. 6p. c. Pref. .. _ all ln 203 rard, the demand for silver from the Continent, has Stock East Anglian Stock Eastern Counties lOO 15 16 100 59 60 594 1 3 16 Northern of France .... all 363 361 2222 2 0 1 0000 0 c ? N i tp l : Paris c itootrrrifissm:e'ais New d a - 0, 1 . Sgniollosillr:aa' Orleans e r l i i : al il ' ; n ' n.N k (sei %Pr,. Pref. ee;doi.t .;. 1 aa a 1 119 1 .2 711 1 53 1 2 8 1: 1 53_ 9 - 333 1 d P ; ;ate, 'Undergone a small decrease, and the " rest" has been . Stock Eastern Union A Stock 100 44 46 y for ftised to an amount that would allow of a dividend Stock Do. do. B Stock 100 29 31 25 Do.Nw.A.(lte.E.U3ds) 81 - - 31C at at the rate of 4 per cent., which would leave it at 25 East Kent all 14 16 143 Stock East Lancashire lOO 92 94 crew £ 3 , 0 65,460. In the other items of the balance- 20 East Suffolk •10 Do all - - 1 gua. 7p. et. (Lim.) ... j hing sheet there is little that requires special report, and - - Stock Edinburg and Glasgow 100 701 71 20 Riga and Dunaburg.... 4 - - - 5 10 Rome and Frascati .... all - ed to the particulars will be found in the subjoined Stock Edin.,Perth, & Dundee. 100 261 27 20 Royal Danish all - - it as table : 10 Forth & Clyde Junction all - - 5 Royal Swedish - - • . Stock Furness - - 4 Do. 7 per cent. Pref. .. all - - Active Circulation ... .. L 20,609,255 Stock Glasg ow& South Westn 101) 94 96 20 !Sambr e an d M euse . ... . a ll 6 7 61 . the . 10 Great North of Sootland all 10 10 1 10 Do. 51 per cent. Int. ... all 9 91 Increase .. • . .. .. 270,770 Northern lOO 1011 102 1011 2 20 South ern o f F rance .... a ll 19 28, e the Bullion .. .. .. .. .. 19,884,632 Stock Great Stock Do. do. A Stock lOO 86 88 81 West Flanders all 5 5i part- Decrease .. . . • • OD 67,916 Stock Do. do. B Stock lOO 131 133 1321 10 Do. 51 v. c. Preference . all 9 9i the !test .. .. .. .. .. 3,647,589 Stock 'Gt. South.& Wstn.(lreld) 100 103 104 20 W. & 1.W.. of France.. all 23 24 Increase .. • • • • • • 345,365 Stock Great Western - - Public Deposits .. .. .. 8,31b,065 Stock Do.Str.Vl.Rail Gua.Stk lOO 54 50 20 Western of Switzerland all - mberl2 Irish South Eastern all - - 6 Wiesbaden - - Increase .. • . .. .. 095,221 50 Lancaster and Carlisle. all 85 90 6Do 8 per cent. Pref all )ries, Other Deposits .. .. .. 1.3,955,063 161 Do. Thirds - - ts of Decrease .. • • .. .. 662,109 1613 4 Do. New Thirds l6 12 13 p r ser- Seven Day and other Bills .. .. 758,787 Stock Lancashire & Yorkshire 100 931 941 931 4 taut. Increase .. - .. .. 8,999 16 Do. do. F 216 6 lid BRITISH POSSRiSIONS, Government Securities 10 696 147 9 Do. do. £9 shares 7 3 id es of No alteration. 3 Do. West Riding Union 1 - Share Railways. 1 i „,, d. 1 Closing ' Business 20 Do. Southport - - '"" Price. Done. that Other Securities .. .. .. 16,782,980 Stock London and Blackwall all 6 5 67 66 3 --- - 100 5 Atlantic & St Lawrence - , &C•, Increase .. .. • • • • 526,222 - Do.Newiss.at £slosp.sh. - - an 78 80 mea- Notes Unemployed .. • . .. 12,934,235 Stock Lon.,Brighton &S.Coast 100 110 112 1104 ( Leased at 6 per cent., slog- Decrease .. - • • • • 242,595 Stock London & North Westn 100 93 . 0 4 % 3 1 I 1 124 Do. Eighths on. 5 percent l3l / 3d )f the - The liquidation of the commercial bills due Stock London& South- Westn. 100 92 921 923 1 18 bo all - - 18 lered Yesterday, the 4th of the month, was effected with 25 L'derry & Coleraine... all - 25 L derry & Enniskillen. all - - 18 Do. Addit. Capital A 6 d The promptitude, thus indicating the continued healthi- Stock Aran., Shef., & Lincoln.. 100 37 37 3 37 P 18 Do. Do. 13 -41 I d 10 Metropolitan - - d 201 Buffalo and Lake Huron all 61 71 the tress of trade. The amount having to be provided Stock Midland lOO 981 993 994 9 20i Do. New l6l - -- d for appears to have been rather considerable, but Stock Do. Birming. & Derby. 100 73 7 100 Buffalo,ltrantACl odricli 1 100 85 90 (6 p. ct. bds. 1 Aug., 1872 j - tr at 50 Mid. Gt. West. (Ireland) all - - 1 600 the facilities for the obtainment of discount accom- 25 Do. / Shares all - - 100 Neut astle and Carlisle all - - 100 Do. do. 1 July, 1873 100 82 86 190 Do. do. 1 June, 1874 100 80 84 s r 15 inodation enabled all parties to complete their 25 New., Aber., & Herefd. all 111 12 20 Clcutta.&S.Eastrn.Lim. 1. 3. O. par /p i engagements on easy terms. The Bank return 10 Newry & Armagh (def.) 9i - - 20 Cape,Eastn. Prov.(Lim.) 2s. - - 20 Newry, Warpt., & Boa all ,- - _., 20 Cape Town & Dock Scrip 2s. - - pm - ester- shows, however, that the preparations made have Stock Norfolk lOO i 6O 62 '''' 20 Central Oude (Limited) 2s. 6d. 34 4 d -- .each- absorbed a large supply of capital, and hence the Stock / 1 1 ' o or rth. Counties Union 3l r th British lOO 571 583 08 20 Ceylon Guaranteed 6p. 0 . 2 i 1 p 171 Demerara - Cald-20 Eastern Bengal.gusp.e 5 / 3di 41 increased firmness lately noticed in the rates of Stock Nor.Dev.Rail.&Dk. Stk. 100 - pliant Stock Do.A Stk.- Arec.no div. S tock East Indian, o - u. sp. c lOO 1031 1013 l 104/ 1 5 discount. ' until 6p.c.hasbeenpdß 100 - - 20 Do. C Shares all - - eIL Stock Do. B Stock 2O Do. E Shares Ext. 14 i 3 p 151 4 wood, The Foreign Exchanges yesterday afternoon Stock North-Eastn.-Berwick 1 1 011 903 - P - 1 - 1 90 , 1 1 20 Do. Jubbulpore 5 -51 aster, a further slight advance in the rates on 25 Do. do. G.N.E.Purchase 1613 4 2 11 d 100 D 0.41 p.c. lids. pay.'s9 all 17 - - exhib i t ed Stock Do. Leeds lOO ci 114 461 20 G eelong& Mel. gua.s p. e. all 19 191 to the Vienna and Trieste ;on Holland, Frankfort, and Stock Do. York lOO 75 3 74 7 5 1 i Bth. c Geelong Corporation 6 ) 100 - - ) the Stock North London lOO 99 101 ( per cent. Bonds Ilamburg, however, there was a decline. Stock Grand Trunk of Canada 100 28 30 291 30 10 N. &S.Westn.,Hampstd Chas.loo Do. 6 p.c. Deben.,pay.'7B all 68 71 70 At the Bank of England yesterday there were no and City Junction.... V is. - - 'bbe, 20 North Staffordshire.... 171 4/ 41 d 100 Do. 6 percent, Pref lOO 89 91 20 20 f G D t o . . s d o o f Ind.Lim. xl. G. bullion operations of public interest. 20 North-Western 10 No. & Sou. W. Junction all 1 6 20 Do. New, gua.s per cent. 4 i a ip 4 In the Liverpool Cotton Market yesterday a fair Stock Oxford, Wor.,& Wolver. 100 .31 33 4 - - demand prevailed for most descriptions, and about 10 Peebles all •-- -12 s 20 Portsmouth - - 12 ,000 bales were sold at full quotations. The Rail- 10 Rhymney lO - --Se 201 Gt.W. of Canada Shares all 153 153 151 Way Share Market closed quietly, and prices e hi- Stock Scottish Central lOO 113 115 X Stock South. N.E., Aber. Stock 100 26/ 271 201 Do. New 100 j Do. Bonds pay. '76,with 1 all 10 0 105 ( apt. till 'fio ihley, bite a slight downward tendency. Stock Do. Scottish Mid. Stock 100 84 85 100 Do. do. '73 till '6O , Stock Shropshire Union lOO 45 47 all 100 105 :land, • .• Since Monday last the imports of specie have 10 Sittingbourne & Sheer. all 3 21 d 100 Do. do. "/3 without opt. all 100 10.5 nouth been about £489,937, and the exports £140,392, ex- Stock South Devon Stock South-Eastern lOO 3 7 88 3 100 7 0 71 703 1 100 Do. 51 P. c. do. '77 do .. all 96 98 20 Madras, guar., 41 p. c. all 17 18 elusi ve - '- 20 Do. do. 5 per cent. all 19 203 of the following shipments direct from Lon- Stock South Wales2o Do. 41 p. c. Extension.. 15 18 19 e re- 20 South Yorks &Riv. Dun. all 123 133 don to the Continent during the week ending 20 Do. do' . lB - - 20 Do. Third Ex. gua.s.p.c. 10 1 1 d ton to 8 11 20 Do. Fourth do. everal .(B1 . ) 2 000 • Thursday last •:—Gold coin e glum , . ounces , 20 Staines, Wok., & Wok.. all Stock Melb. Corp. 6 p.c. Bonds 100 --- . • by a - li oulogne,'6o ounces ; bars (Hambro'),ll,l27 ounces. 2 2 5 5 Stockton k d to o n & 185 D 4 arlington all 36 37 V 1 - - Newßrunswick&Canda. • 25 Do. do. 1855 7 - - 20 / Ry..kLand(Lim.)g.6pc 10 - - a tioned silver coin (Boulogne), 2,800 ounces; Rotterdam, Stockton & Hartlepool 163 - Class ACapitl.Share.. ;ineer. .• 100 .. Do. do. Land d 0... .. 1,200 ounces ; Mogadore, 1,965 ounces ; Hambro', Stock Taff Vale Stock Do. Preference, No. 1.. 100 - - 20 Do. do. B. Capital do. - - d 88 0 ounces. 25 ThamesHavenDk&Rail 22 - - .. Do. do. Land do.. 10 _ - being Stock Vale of Neath lOO -- - 20 c Northof India Tramroad 2s. a• that The market for English Securities has been very Stock Waterford & Kilkenny 100 - - o Limited, Scrip _ 50 Waterford & Limerick all - - 20 Oude (Limited) very b uoyant to•day, but the full advance has not been 20 West Cornwall ..,...> 1.5 1 I p 20 Do. Truits maintained. Several large purchases have been 10 W-end Lon. & Cry. Pal. all - - 5 Do.A.-Arecv.nodiv.till , , 20 Do. New gEl all 20 21 . 10 i d i from effected, and a much firmer tone is apparent. Con- 7 p.c. has been pd. to B all 21 3 20 Do. Punjaub - g tr.> 5 1 1 aving 5 Do. B all , 6 64 20 Do. Indus. St. Flo. bi),,, ° ' 5 1 i d Rs to B°lB have been 95k, but the latest price is 951 4 , 20 West London - - 20 St. Andrews & Quebec A 18 - - 10 ITrinidad(Lirnited) Scrip 1 3dl par " sellers" The New 3 ner Cents. have been dealt 10 Do. Ist Class all I- - 611 ARE 117ABLET.—( THIS DAY.) ORDINARY SHARES AND STOCKS. Railways. Paid. Closing Business Price. • Amberg.,Notting. Bost. and Eastern Junction 10 6 oi I.lclfast and Ballymena all • Bir., Wol., and Str. Val all 71 81 k Birk., Lane., and Chesh Junction lOO 62 64 Blackburn Blyth and Tyne all 31 13 Bristol and Exeter 100 921 931 921 : Caledonian : Chester and Holyhead , 100 48 49 48 1 Cork and Bandon all • Cork, Blkrock,&Passage all Cornwall Do. AIA roves. no div all 45 51 unGp.c.per an all til all Do. B hasbeep pd.toß. Dublin andßelfast Junc. all Dun.,Perth,& Abr.Junc all 85 91 East Anglian lOO 15 16 : Eastern Counties : Eastern Union A Stock 100 44 46 Do. do. B Stock 100 29 31 Do.Nw.A.(lte.E.U3ds) 81 East Kent all 14 16 145 East Lancashire lOO 92 94 East Suffolk Do : Edinburg and Glasgow 100 701 71 Edin.,Perth, & Dundee. 100 261 27 Forth & Clyde Junction all c Furness c Glasgow & South Westn 94 96 Great North of Sootland all 10 101 r Great Northern lOO 1011 102 1011 2 Do. do. A Stock lOO 86 88 e Do. do. B Stock lOO 131 133 1321 'Gt. South.& Wstn.(lreld) 100 103 104 Great Western Do.Str.Vl.Rail Gua.Stk lOO 54 5 0 Irish South Eastern— all Lancaster and Carlisle all 85 90 Do. Thirds I Do. New Thirds l6 12 13 p Lancashire & Yorkshire 100 935 041 935 4 Do. do. F 216 6 1 id Do. do. £9 shares 7 ; id Do. West Riding Union 5 Do. Southport London and Blackwall all 6 5 67 66 5 Do.Newiss.at £.llosp.sh — Lon.,Brighton &S.Coast 100 110 112 noi London & North Westn 100 93 . 0 4 93 1 1 1 Do. Eighths London& South-Westn lOO 92 925 925 L'derry & Coleraine all L'derry & Enniskillen all Man., Shef., & Linooln lOO 3 7 374 37 Metropolitan Midland lOO 981 995 991 9 Do. Birming. & Derby lOO 73 7 5 Mid. Gt. West. (Ireland) all Do. 1 Shares all Neutastle and Carlisle all New., Aber., & Herefd all 111 12 Newry & Armagh (def ) 9 Newry, Warpt., & Ros all : Norfolk lOO 160 62 60 North. Counties Union 3l :i ti d North British lOO 575 585 58 Nor.Dev.Rail.&Dk. Stk lOO Do.A Stk.— Arec.no div until Gp.c.hasbeenpdß 100 Do. B Stock lOO North-Eastn.--Berwick 100 905 )11 901 1 Do. do. G.N.E.Purchase 1613 4 2 11 d Do. Leeds lOO 461 144 461 Do. York lOO 755 74 7 5 1 North London lOO 99 101 N. &S.Westn.,Hampstd and City Junction £3 ls. North Staffordshire l7l 4; 41 d North-Western No. & Sou. W. Junction all -7 6 Oxford, Wor.,& Wolver lOO 31 33 Peebles all -- Portsmouth Rhymney lO Scottish Central lOO 113 115 Sooth. N.E., Aber. Stock 100 26/ 271 Do. Scottish Mid. Stock 100 84 85 Shropshire Union lOO 45 47 Sittinzbourne & Sheer all 3 d South Devon lOO 3 7 58 21 5 South-Eastern lOO 7 0 71 70 1 1 South Wales SouthYorks.&Riv.Dun all 125 131 Do. 'do lB Staines, Wok., & Wok all 8 11 Stockton & Darlington all 36 37 Do. do. 1854 221 Do. do. 1855 7 Stockton & Hartlepool 165 Taff Vale lOO Do. Preference, No. 1 .. 100 ThamesHavenDk&Rail 22 Vale of Neath lOO - - Waterford & Kilkenny 100 Waterford & Limerick all West Cornwall W-end Lon. & Cry. Pal all Do.A.—Arecv.nodiv.till 7 p.c. has been pd. to B all 25 3 Do. B all , 6 64 West London Do. Ist Class all Do. 2d Class all The market for English Securities has been very b uoyant to-day, but the full advance has not been maintained. Several large purchases have been effected, and a much firmer tone is apparent. Con 'els have been 95k, but the latest price is 951, sellers." The New 3 per Cents. have been dealt in at 961 and the Reduced at 961 and 9611. Bonds Bills are 355. to 38s. prem., and the -15 onds are firm, at 1001. India Loan Debentures are steady, at 98-1- 99. Bank Stock is 228 and 230. , In the Foreign Stock Market the transactions have been of a very limited character, and prices are firm. Turkish 6 per Cents. aro 911 to 92 ; di tto, New Loan, 771 to 78 ; and the 4 per Cents. have improved to 1031. Brazilian 41 per Cents. remained at 94,' and Mexican Stock has been heavy at 19 /- The New Austrian Loan is 21 to 11 dis. The Railway Share Market has been exceedingly buoyant, a fair amount of business having been done in most of the principal lines at an advance of t to 1 per cent. on yesterday's closing rates. Caledonian, Great Northern, North-Western, and North Eastern (Berwick), advanced ss. ; Lincoln shire and Yorkshire, Brighton, Midland and South- Eastern, 10s. ; and Eastern Counties and Great Western, 15s. under head ph of id file PREFERENCE SHARES. Closing Business Share Railways. Done. Paid.l price. 25 Blythe and Tyne It per c. pref. (issued at £5O) all 49 51 LStk Brig. & Exet.4p.ct.Stock 100 94 96 20 Do. do. do. Shares 9 ock Caledon £lO, 45 per cent 100 103 105 104 12.10 Do. Quar. Shares, No. 2. 7.10 - • Stock Chester & Holyhd, 55 pc 100 125 127 Stock Do. do. sp. et. 61 Cork & Bandon, 54 p. c all 65 Dun. Perth,& Aber.Jun all 6 54 StocklE.Angn. Class A 7 & spc 100 98 101 StockiDo. do. Class B 6 pc lOO 110 116 Stock!Do. do. Class C 7 pc lOO 108 112 Stock E. Coun. Ex. 5 pet. No.l 100 115 117 Stock I Do. do N 0.2 100 114 116 Stock Do. New 6 per et. Stock 100 132 134 Stock Eastern Union, 4 per ct. 100 80 82 Stock East Lane. 6 per ct lOO 5 E.& W. York. Jen. fifths all tock Edin.&Glas. spc shares 100 Stock Edin. Perth,& Dun. 4 pc. 100 74 76 Stock Furness , 5 per cent Stock t(llas. ityS West.z a. spe lOO 113 115 Stock Great Northern, sp. ct lOO 118 120 Stock Do. spc Redm.,l op.c.pm 100 109 111 Stock Do. 4.1 p. c. do. do. 100 Do.sp.c. It cdm.,s pc. pm 6O 63 65 10 Gt. Nh. of Scotld, Ist pf all 11 114 Gt. Sn.& (Ireland)4 Ino p. et. pref. Stock Stock 50 Great West. (Berks and 6 Hants) Ext. 5 p.ct. . Stock Do. Redeemable, 44 p i. t. 100 94 96 911 Stock Do. Redeemable, 4p. et. 100 85 E 7 Stock Do. Irredeemable, do lOO 86 88 864 Stock Do. sp. ot. Redeem. Pref lOO 99 101 8 Do. Birm. Pref. Shares all 91 101. 10 Gt. West. Ches. 8 p.c.pf shares all 16 17 165 10 Do. do. sp. ct. prof all 91 105 Stock Do Birming. guar. stock 100 72 74 73 261 Do. Chester guar.shares all 185 195 135 Do. do. do 20 Do. do. do. Stock Lan. & York 6 p.c. stock 100 140 142 Stock Lon.&Brig.spc. gu. No.l 100 Stock Do. pref., sp. c. ...No. 2 100 Stock Do. New gua., 6p. et lOO Stoek Do. do. sp. c. No. 4 100 Stock Lon.&N.W.Cov. &Nun eaton, sp. et. Stock Lon.&S. W, 7 p.ct. stock, late 3d shares lOO 160 165 124 Londondy & Cole, 4 shs all I Londoudy.& Ennis 4sh all 85 Stoc & Lin., 6p. et lOO 122 124 6 Do. £6 44 Stock Do. 31 per cent. 124 Maryport & Car., 4 p.c all Do. 4 per cent ll 125 { Do. Stock Mid. Con. 6p. c. Stock Stock Do.Con.Bris.&Bir.6p.ct. 100 139 141 I Stock Do. 44 p. c. pref. stock lOO 100 102 6 Do. with option till 1860 3 p Stock Do. Leic. & Hit.pref. st. 100 94 96 10 p. c. redeem, at 5 p. C. pm ) NewportAber,&c.pref.s l au 94 (4. 10 Do. Perpet, 6p. c. with option till 1866 all 115 111 10 Norfolk Deb. 4p. c. sliares all 9 95 95 Stock Do. 5 5 5. e. Ext. Stock,lB46 100 Stock Do. p. e. Pref. do. 1847 100 Stock Do. ay.Val.Ex.Sk 1847 100 Stock North British, spercent 100 112 114 Stock Do. New, MM. 5 per cent 100 Stock Nth.Dev.Rail.& Dik.Co. 100 Stock N- East. irred. 4 p.c. Deb. 100 Stock Do. Berwick, 4p. c. Pref. 100 96 98 17 Do. do. do. 20 Do. Leeds, 6p. c. No. 1 l3 124 Do. do. Quarters, 1846 - -- 25 Po. York, 11. &S. Parch lO 1 d p 20 North Staffordshire . Stock Ox. wr. & Wol. 6pc. lsVg 100 121 123 Stock Do. do. do., 2d gun lOO 111 113 Stock Do. 44 p.c. Db. stk.in perp 100 99 101 84 Scottish Central, new pt all Stock Scottish N.-Eastern deb 100 Stock Do. 35 pert. pref. stock 100 Stock Do.Aberdeen.gua.6po. 100 Stock Do. 7p. c. pref. stock. 100 10s. South Devon, Ann. 10s. all 101 101 10 Do. Fixed 45 per cent. all 1.0.6. South Eastern (Reading Ann., 1.0.6.) Stock Do .44 per cent lOO 102 101 102 Stock Do. Fixed 45 p.c. Ist is . ; 100 102 104 Stock Do. New do., 2d issue. 1 100 Stock South Wales, gua. 4 p.c. I 100 Stock Do. 44 per cent lOO 20 S.-Yorkshire, 4 p.c. gua. all 16 17 25 ,Stockton and Dar. 5 p.e. all 284 294 25} i Do . 6 per cent all 325 33§ StocktWaterford & Kilkenny, 6 per cent. , all 48 51 ,aided atured The Foreign and Colonial undertakings have been rather inactive, but prices show an upward tendency. Lombardo=Venetian Old Shares advanced to 8 gt, and the New Shares to 8 and Bk-; Grand Trunk of Canada improved to 291 30, Great Western of Canada to 151, East Indian to 1041 10 5 ; and Great Indian Peninsula remained strong at previous rates. Joint-Stock Banks and Miscellaneous Shares Wexe dealt in to a limited extent, but there was little variation to report in prices. London and County improved 55., and Red Sea Telegraph ss. row n, an ad ion of BRITISH FUNDS—CLOSING PRICES. '., l illk Stock "., Per Cent. Reduced Annuities 96- i I Now per Cent. Consols Annuities 3 per Cent. Annuities 96 i a Long Annuities, expire sth Jan., 1860 1 3-16 ittlia Stock bitto Debentures 99 £3W consols for Account March. Dzthequer Bills, £l,OOO, 2d. & lid 35 8 1 itto Small, 11-d Ditto Advertised 4 ehequer Bonds,' 1859, 31 per Cent .... 1001 June. FOREIGN FUNDS--CLOSING PRICES. Brazilian 5 per Cent. Ditto 1858, 41 per Cent 94 'lexicon 3 per Cent l9l Turkish 6 per Cent. — Ditto Account Ditto New Loan Ditto Account Ditto Guaranteed, 4 per Cent. Ditto Account Dividends on the above payable in Lonaon. Consols, Money 951 1 Sellers. Consols for Account Mr. Mr. s his neral ainis- the has THE SUN, LO 'DON, SATURDAY EVENING, MARL'H 1859 . THIRD EDITION. for cartoons to be employed in the decoration of the Houses of Parliament. Eleven premiums were so assigned, and more than two-thirds of them were awarded either to stu dents of the Royal Academy or to persons who had been students of that society I happened to be in Paris ;it the time of the exhibition there of works of industry and art. A room was allotted there to the leading schools, including the English, and I have reason to know that many foreign artists of eminence expressed their admiration of our native works of art there, and their surprise that they had known so little of the English school. Besides what I have stated as to the application of the society's funds, I must mention that there are medals and premiums awarded to students who attain a high degree of efficiency, and sums of money expended in defraying the expenses of promising young Men in travelling on the continent to visit the schools of the an cient masters, with the view to their improvement. My lords, there is no profession which affords more immediate pleasure and delight than the profession of the arts ; but, unfortunately, pecuniary reward to any extent does not al ways accompany exertion in that vocation. Occasionally, from failing energies, sometimes' from loss of sight, those who devote themselves to it are unfortunately reduced to poverty and distress. The Royal Academy also appropriates a portion of its funds to the relief of persons of that. class, and of widows of artists who may have been left destitute. These are charitable objects, but they are not confined to members of the institution. The aid is distributed freely to the profession at large—(hear)—and a much larger sum is given to those members of the profession who are not and never were connected with the academy,tipm to thee e who are so connected. I find about £4OO a year is subscribed for the relief of persons connected with the institution, and up wards of £9OO for persons in the profession not so connected. I think your lordships will feel that that application of the funds has been a correct, beneficial, wise, and prudent arrangement, and that the administrators are deserving of our thanks for the manner in which they have managed the concern. There are one or two objections which have been made to which I wish to refer before I sit down. It is sometimes complained that the walls of the Academy and the Exhibition are too much confined to Royal Acadeini cianS, members of the society. Whether that'bo the tAtse or not I cannot undertake to say, nor whether the exhibition would be better and more profitable if the works of Royal Academicians were reduced in number and those of ether artists admitted in greater numbers. I will not enter upon that subject, because, as it is understood that more exten sive buildings are about to be erected, that complaint, if well-founded, can be removed in future. Another point to Which I wish to allude is an objection which is sometimes made that favouritism prevails in the selection of the mem bers. Where election is not made by the public voice it is impossible to say that favouritism may not sometimes exist, but here it is held in check by the voice of the profession, who have always their eyes directed towards the proceed ings of the Academy, and it is still further controlled by the influence and authority of the Sovereign, who must be satisfied of the propriety of each nomination, for no person elected can hold office until his election has received the sanction of the Sovereign and a diploma of qualification. But this I will say, that during the last 50 years nearly every artist of eminence in this country has been received into that body. There have been one or two exceptions, the reasons for which I will not enter upon, because they aro of an unpleasant character, but I say generally in broad terms, that every artist of eminence who has existed in this country during the last half century has been a member of the Royal Academy. I have felt it a great satis faction to be able to state these facts to your lordships, and through you to the country. Now, one word before I sit down upon the proposed change of site. I believe as far back as 1830 it was suggested that it would be proper to remove the Royal Academy from its present position in order to afford more room for the National Gallery; and I think in 1854 Lord J. Russell proposed to advance £40,000 to enable the Academy to procure another resi deuce. What was the result of that offer Ido not know, except that it was never completed, but this I do know, that it was not very favourably received by the Royal Academy, and for a very obvious reason. They have always considered themselves to be under the immediate supervision of the Crown. If they received a sum of money from the public purse they properly considered that they might be called upon from time to time by the House of Commons to make returns, to be examined, and to assume a political charac ter quite foreign to the tranquil state so necessary for the well-being of art. Therefore I am sure the offer was not accepted by them. But other offers have since been made, and now it is proposed that a site should be granted in fee to the Royal Academy upon part of the ground occu pied by what is known as Burlington-house. No situation can be better for this purpose. They are grateful for that offer, but still they fear what I have before suggested, that a grant from the nation, unless an equivalent was offered by themselves, would place them in the position I have just mentiond. Their object is, and always has been, to remain solely under the control and supervision of the Crowii, and therefore what they now propose is this—they will accept the grant upon the condi tion that they on their part shall be allowed to expend an amount equal to the value of the site in the construction of buildings necessary for the Academy, to be permanently ap plied for the purposes of art. Thus the grant from the na tion will be paid for by that equivalent, because both the land and the buildings to be erected upon it are to be de voted in perpetuity to a °Teat public object. I think if this kind of agreement can be carried out it will not affect the position of the Royal Academy, and they will remain as before under the immediate supervision, control, and Government of her Majesty. I was anxious, my lords. to make this explanation, because I was sure, as re garded the conduct and management of the Academy, I could say nothing but what would redound to the credit of that body. I think also your lordships will not object to the view they take as regards the proposed change of site, that the acceptance of a grant should be conditional upon the arrangement which I have mentioned. What is the pre cise sum they will expend I am not prepared to state at present, but I imagine it will be some £40,000 or £50,000, which will be a complete equivalent for the land to be granted to them. lam sorry to have, troubled your lord ships at such length—(hear) —but I was glad to have an opportunity of addressing. you upon a subject which, from the position I now stand in, and have stood in from my early days—(hear, hear) —naturally possesses gt eat interest for me. (Hear, hear.): _ _ _ The Earl of DERBY—I am surethe house is indebted to my noble and learned friend fur the remarks which he has addressed to us. (Hear, hear.) He has explained with his usual clearness and precision the various arrangements which have been made from time to time between the Crown and the Royal Academy. I think the principle is now recognised on all hands that while the Royal Academy has no right to claim exclusive possession of this or that particular building, yet it has a right to claim on the part of the public that they shall have some means provided for carrying on their labours, from which I readily admit the public have for a series of years derived the greatest benefit. I believe my noble and learned friend has only done justice to the zeal with which these labours have been undertaken, and to the services they have rendered to the fine arts in this country. I should not have risen now, as there is no particular point involved in the remarks of my noble and learned friend, but that I think it is expedient your lordships should be put in pos session of what is the real position of the Government and the Royal Academy towards each other. Your lordships are aware that for a series of years there has been a growing feeling that the building occupied partly by the national collection of pictures and partly by the Royal Academy was insufficient, and that it was desirable to separate ono portion from the other. For a long time the question has been agitated whether the National Gallery should be removed and the Academy left in possession of the original site, but the result of inquiries by commis- , sions and committees appears upon the whole to be that there is no site better calculated than the existing National Gallery for the exhibition of the pictures which belong to the nation. That being the case, it was thought that some other place should be found for the Royal Academy. In that state of things the late Government purchased Bur lington-house, with the gardens and court-yard attached In order to give some idea of the extent of space required, I may state that the extent of the National Gallery is 13,000 square feet, while the superficial area of Burlington house and grounds is 143,000 feet, or nearly eleven times as much. It must not, however, be supposed that there are not numerous claims on this valuable site—(hear)—and en gagements have been entered into with various land societies for portions of that space. I have here a list of those societies which have received promises of that nature. They are the Royal Academy, the Patent -office, the London University, the Royal Society, the Linnpean Society, and the Chemical Socieiy. But, besides these, the Astrono mical, the Geological, the Antiquarian, the Ethnological, the Asiatic, and the Water Colours Societies, which are now located in Somerset-house, are claimants for accom modation in Burlington-house, while strong recommenda tions have been made to the Government of allotting a portion of this site to the Geographical and Statistical Society. Under these circumstances you will, I am sure, admit that it is a matter of some difficulty to meet those various conflicting claims ; but the principle on which the arrangement with the Royal Academy is to be carried' out has been entirely agreed upon, the settlement of details being left as a matter for future consideration be tween it and the Government. The principle of the arrangement is this—it appears to mo to be a reason able one—that, in order to secure the Royal Academy from the inconveniences attendant upon frequent change of place, to afford them more ample accommodation than they now possess, and, at the same time, to provide for the pub lic at large that amount of space which is necessary to the adequate realisation of the specific objects which the Academy has in view, they should, out of their own funds, obtain for themselves a site, to be conveyed to them in free hold, whereby they would be relieved from all apprehension of future removal, while the advantage would be conferred upon the country of having a building suited to the pur poses for which the Royal Academy is designed. (Hear, hear.) The proposition made to them, therefore, was that a considerable portion of the site of Burlington-house should be appropriated to their use, and should be male over to them in fee simple, upon condition that upon that site they should erect a building adapted to the purpose of the Academy, and not in its style and character incongruous with those other buildings which may hereafter be erected in the same locality. (Hear, hear.) Neither the precise site nor the exact extent of space to be allotted at Bluiington house to the Academy has as yet been decided upon. These points are under negotiation ; but I understand that they desire to have ,half of the entire frontage of the present build ing facing Piccadilly, and also a large portion of one of its sides. Now, that application for no less thins half of a site occupying 143,000 square feet is one, I can not help think ing, due respect for the labours o f the Royal . ,Aca demy, of rather an extensive chara cter, considering that there are six other societies to whom, as I have already said, promises of accommodation have been made, and seven or o)tmald,Acaindetma eight whose claims have been strongly pi pressed upon the attention of the Government. (Hear.) Her Majesty's Mi nisters, however, have deemed it right to ascertain, in the m fir a s y t in r s e t a a a n a c na e, b w ly hat b m e s o u u p n p t o s f e d sPac to e _ t m h •a e nt t , next place, before they allot them so , large a por tion of ground, to be assured that the amount of their funds is such as would enable them to cover, either now or at some future time, with buildings adapted to the objects of the institution, the whole of the site which they require. (Hear, hear.) We have taken this course because it ap peared to us it would be extremely undesirable and impolitic to assign to the Royal Academy, or to any society, a con siderable space of valuable land, part of which, while they did not need it themselves, they would prevent others from occupying. (Hear, hear.) Of course, so far as the advan tages of securing to them a particular aspect and a suffi ciont amount of light are concerned—matters so necessary for the purposes of the Academy—her Majesty'S Govern ment are disposed to deal with them with the utmost favour THIS DAY'S SHIPPING. LONDON, March s.—Wind this day at noon, W.; light breeze, and fine, clear, mild weather. PORTSMOUTH, March 4.—Wind W.—Arrived—Hot 81311r, from London for Melbourne. PLYMOUTH, March 4.—Wind N.W.—Sailed—John and Mary, from Bermuda. Off port—Mary Ann, from Now Zealand for Portsmouth. _ _ _ CARDIFF, -March 4.—Wind W.N.W.—Sailed—Anna for St. Thomas. FLEETWOOD, March 4.—Arrived—Cleopatra, from Sa• vannah. SUNDERLAND, March 4.—Wind W.—Arrived—Mal vern, from Moulmein ; Edmonston Brothers, from Savan nah. Sailed—Margaret Dundas, for Point de Galle. lIoLvnEAn, March 4.—Wind S.W.—Sailed—Vicuna and Ranagua, for Valparaiso. (BY ELECTRIC TELEGRAPH.) SOI TIIA3IPTON, Saturday Morning. Wind W. Arrived—Oudine, steamer, from Dublin; Tamar, steamer, from Brazils ; L'Etoile, from Carentan; Wonder, steamer, from Jersey ; Havre, steamer, from Havre. Sailed—Borussia, steamer, for Now York; Ripon, Steam er , for Alexandria ; Affiance, for Havre ; Courier, Steamer, for Jersey; Harmony, for Alexandria. LIVERPOOL, Saturday Morning. Wind W.N.W. Arrived, March 4--N. S. de Las Vic tolias, from Carde lia..,s. March s —Berlin, from Savannah; Sage, from St. mak, ; Frankfort (s.s.), from Lisbon ; Jean Baptiste. from Sables ; Arthur, from Lucon ; Cossack, fro m Le g horn ; from Nice ; Bogata (s.s.), from Valparaiso. Sailed—Scottish Chief, for Melbourne. MINES.—The settling in the Mining Share Market, on Monday, was one of the heaviest on re cord, but passed off remarkably well ; and during the whole Week th e excitement noticed in our last has continued without intermission, and an enormous amount of business transacted. The success of East Russell so far has had More important results than that of East Basset; the ex citement consequent upon it has been the topic of conver sation and remark in all circles, and those who have dis believed in legitimate mining, or confounded it with reck less speculation, perceive that certain indications in lodes can be relied upon, and that larger profits are made in raining than in any other class of investment. The con sequence of all this just now is that progressive and specu lative mines havinc , fair prospects of succe ss are eagerly sought after, and purchased at considerably a d_ 'wowed prices. There will be great caution, however, l ' e quired. All sorts of new schemes will be promoted and Puffed off upon the strength of the East Russell lode, and our readers will do well to obtain the best practical advice before embarking in any of them.-3fining Journal of tleiv day: A letter from St. Petersburg, of the 24th ult., in pie No r d o f B russe l s, says —" An English Man, Col. Sleigh, is at present here, and proposes to undertake the construc tion of a ailway for India, without receiving any guarantee from the St a t e . This project excites considerable in t erest in the commercial circles here. The River Amour Corn- PanY has had an estimate drawn out of the expense of ellablishing an electric telegraph which will cross the whole of Eastern Russia and Siberia, and end at the Pacific. The first outlay will be two millions of roubles (4f. each)." BRITISH MINES. Sharei Mines. Paid. \ Closing I Business '" Price. Done. Alfred Consols (Philacl). 2.11.10 65 7 23 British Iron Condurrow (Cainborne) 2O ' 10 Devon G. Cons. (Taoist.) 1 465 475 East Bassett (Mogan). 30 215 225 Great South Tolgus... 17s 12 13 G.Wheal Alfd.(Phillack . ) 11.18.8 35 4} 45 } G. Wheal Vor(llelston) 95 1 Lady Bertha _I 1 North Frances (Illogan) 85 ft 7 North 10 N .te V B h a e s a s l e t C ( r u t' t g a n y ni1.7.0 .4 2 8 5 3 , 5 - Par Consols (St. Blaxy) 11 155 165 Porkellis Unit. (Wend.) 9 Sortridge Cons. 31in.Co. 6s SouthCaradou(St.Cleer) 25 45 5 465 - • Sovth C. Brea( Illogan). 2 2} 21 S Wheal Fran. (Illogan) 18.18.9 210 220 5 Tamar Silver and Lead Mining Co 45 11 15 10 Tin Croft 9 3f 45 4 UnitedMines(Gwennap) 40 - - Vale of Towey (Germ ) 12s 6d 4 f West Basset (illogan) l5 20 22 W. Caradon (Liskeard) 2O 65 70 725 Wheal Basset (Mogan) 210 220 Wheal Buller (ltedruth) 5 115 125 Wheal Edward (Cale.) 55 3} 31 35 5 Wheal itty (U. Lelant) 1.7.2 11 12 WWI 31aryAnn (Menhe) 8 47 49 Wh'i Trelawney (Lisk.) 45 30 32 FOREIGN MINES 20 Australian 1 800 AccordCopper,Lim. 108 I p 35 Brazil. Imp. (is. at 25 p.) 27 1 5 20 Do.St.Johndelßey,Liin. 15 101 114 5 Do.L and and Mining - Co. all 1 2} 1 Clarendon Consols Min ing Co. of Jamaica d 40 Cobra Copper all 37 30 38 Copiapo l6 10 12 - I. DunMoun.Cop.Ming.Co all 2 Fortuna 20 General all 21 225 3 Linares all 9} 9 5 Lusitanian 1 Mariquita all 5 1 New Granada all 1 N.RhineCop.of S.Aus.L 10 5 5 p 15 20 Pontgibaud Silver, Lead Mining and Smelt all 4 5 5 Port Philip 1 4 30 Santiago de Cuba 165 1 15 28.2.811 Unite d Mexican all 25 3 r COLONIAL GOVERNMENT SECURITIES. Share Securities. Paid. Closing Business Prices. Done. Can.Gov.6 p.c.Ja. & July 100 1135 1145 1141 Do. 6 p.c.Fb.&Aug. 100 112. 114 112} 13} Do. 6 p.c.Mr. & Sep. 100 112 113 N.8.G0v.6 p.c. Ja. &July 100 1115 1125 -- Do. 6p.c.Ap. & Oct. 100 N. S.W. Gov. sp. c. Deb. 100 1014 1025 102} NovaScotiaGov.6 pp c. St. Deb. redeemable, 1875 100 1114 1121 S.Aus.Gt.6pc.Jan&July 100 1105 1115 1101 11 Vict - Gov.6p.c.Jan&July 100 JOINT-STOCK BANKS. Shared Joint-Stock Banks. Paid. CPrlceing Business Done. 100 A gra&UnitedServiceßk 50 40 Australasia all 25 Bank of Egypt all 251 26 1 251 100 Bank of London 5O 4a 47 40 Brit. Col. Bk. & LoanCo all 50 British North American all 20 Chtd. Bank of India, &c 10 11 1 d 8/ 100 City 5O 61 63 63 100 Colonial ' l , O OO ll I C C o o m rn m ß e a rc n i k al o o f f ( r ;a ,o n n a d d o a n a 2 l o l _— _— 20 Eng., Scot., & Aus. Ch all 16 161 161 4 20 Gem Bk. of Switzerland all 20 Lon.Char.Bk.otAustral. all 211 221 50 London and County 50 London Joint Stock ' 10 :12 100 'London & Westminster. 20 .._. 100 Nat. Prov. of England. 35 • 20 Do. new lO 50 National Bank 25 20 New South Wales 25 Orient Bk. Corporation all 40 20 Ottomhn Bank all 211 22 22 Provincial of Ireland - 10 Do. New all 25 SOutit Australia - 25 Do. New 25 Union of Australia all 53/ 25 Do. New 2O -- 50 Union of London lO -- • - 100 Unity Mutual 55 -- 100 Western Bk of London 50 20 19 d MISCELLANEOUS. I , Closing Sh aro --FM Miscellaneous. Paid. \ price. zusiness done 10 Anglo-exican Mint 1000 Atlantic Tel. (Limited). all 220 250 25 Australian Agricultural 19 32 34 10 Australian Roy al Mail . all 4 1 10 Berlin Water Works 10 Do New, issued at .C 5 dis 3 _ _ 50 British American Land 40 -- 50 Brit. & Irish Mag.Tel.A. all 361 381 20 Do. B, 7p. c. till 1862 all 19 21 .. 20 Do. C 100 Canada Land 324 120 126 _lO Chan. Islands Tel.(Lim ) all 9 10 Stock Cop.Min.ofEng.&Sudtg all 25 Do. Preference 71 per ct all 24 25 all 11 11 5 5 C D r y o . s P t a r l e P re a r l e a n c e e e . all 4 5 20 Eastern Steam all Stock Electric Telegraph lOO 99 101 1011 5 Eng - . & Amt. Cop.St.Co. all Id 1 p 10 Europ. & Ind.Junct.Tel. 10s. 1 *d 4 9 Europ.&Am.Stm.(Lim.) all i 11 20 GLlron ScrewCol.(Lim all 15 Gen. Steam Navigation. , 14 20 London Discount 5 11 11 d :4 Lond.Gen. Omnibus Co all 14 1 IP Mediter. Electric Teleg all 10 lied. Exten. Tel. (Lim ) all 51 61 61 25 National Discount Co 5 1 1 d 10 Netherlands Land 6 10 Do do all 1 2 5 Do 8 p.c.Pref.,iss.at ldis all 1 1/ 100 N.B.r.&NovaScotiaLand 80 1 N.B.Australasian (Lim.) all 4 4 20 North of Europe Steam all 1 Oriental Gas 1 Do. New Sh ares lss. 4 dig par :5 Peel River L an d & Mi n a ll 21 3 n 50 Pen. & Orient a l Steam all 84 85 1 854 I 50 Do. New lO 12 131 p 20 Red Sea & Ind. Tel egr 8 1 4P 8 11 50 Rhymney Iron 15 Do. New all 7 74 no Royal Mail Steam 6O 62 ;64 1 Seot.Austrin.lny.(Lim ) all 1274 1271 25 South Australian Land. all 36 38 1 Submarine Teleg. Scrip, alt 1 1 1 1 Do. do Registered all 4 1 20 iTr..t Ln.Co.of Upr. Can. 5 100 ivan Diemeali Land f - mi. 9 u , SUN OFFICE, Six o'ClocZ. SARDINIA. The Piedmontese Gazette publishes the Royal dceree authorising the loan of 50 millions of francs, already announced by telegraph. The amount is to be paid in five instalments, viz., one-fifth on subscribing, and the others respectively on the 12th of May, 12th of July, 12th of September, and 12th of November of the present year. The subscrip tion, commencing from the 3d inst., is to be left open. until the Bth inclusively for Piedmont, and until the 12th for the island of Sardinia. Only three-fourths of the loan are reserved for the king dom ; the remaining two-fifths may be negotiated abroad. IMPERIAL PARLIAMENT. HOUSE OF LORDS—(YESTERDAY). The LORD CHANCELLOR took his seat on the woolsack at five o'clock. DIVORCE COURT. Lord BROUGHAM gave notice, that on an early day he would call the attention of their lordships to the state of the new divorce court, with a view of aiding and assisting its action. THE NATIONAL GALLERY. Lord LYNDHURST, whohad given notice of his inten tention to call the attention of the house to the Royal Aca demy, to the proposal to remove the establishment from the National Gallery to a new situation, and the conditions of such removal, rose and said—My lords, shortly after the meeting of Parliament, in answer to a question put to the Chancellor of the Exchequer in the other Hoiise of Parlia ment, the right hon. gentleman stated, according to report, that there was an intention of removing the Royal Aca demy from their present residence in Trafalgar-square to a new site, upon certain terms which were not distinctly stated. My lords, I consider that much misapprehension has existed respecting the tenure under which the Royal Academy hold their apartments at present in the National Gallery. Much apprehension appears to me also to exist as to the character, the duties, and the means of perform ing the duties of the Royal Academy, and much misrepre sentation has taken place in consequence of such misappre hensions. I am, therefore, desirous to have 1111 opportunity of entering into an explanation upon this point, because I think it will be satisfactory to your lordships, and will re dound to the credit of the society to which I have referred. I hope, my lords, I shall not be charged with going out of my province in entering upon this subject. My justification, or rather my excuse may be, or must be, that in the course of last session I presented a petition to your lordships from the Royal Academy, requesting your lordships to pass some bill for the purpose of extending the law of copyright to paint ings and other works of fine art. In consequence of this I have received repeated communications from members of the Royal Academy, and they recal to my recollection many cir cumstances of my early life when I attended the lectures of Sir Joshua Reynolds, of Mr. Barry, ,and other professors when I was very much associated and very conversant with the proceedings of the Royal Academy, and when I was in timately acquainted with many of the members of the society. There is one circumstance, and a remarkable circumstance, that distinguishes the Royal Academy in this country from all the other academies that exist on the continent of Europe. There is not a single academy for the purpose of promoting the fine arts upon the continent of Europe that is not supported entirely by the State;' whereas the Royal Academy here has almost from its first institution been self supporting. It has been of no charge whatever to the State, and in this respect resembles many other of our in stitutions, which would in foreign countries look for aid to the Government, but which in this country are supported by the energy, vigour, and enterprise of individuals. This is a peculiar characteristic of our free state, and it does, I think, great honour to its independence and spirit. Some persons have said that the Royal Academy is to be consi dered as a society of private gentlemen united for the pur pose of promoting the fine arts, while others have said that it is to be viewed as an incorporation. It is a singular cir cumstance that at the institution of the Royal Academy there was an Incorporated Society of British Artists then in existence, consisting of a numerous body of professional gentlemen. In consequence, however, of a dispute among that body and the disorders consequent upon it, some of the leading members applied by memorial to George 111. for the purpose of establishing an academy under his patronage. After some' censiderarion, the King assented to their re quest, and established the Royal Academy, exclusively under his protection and support. A code of laws was pre pared under the immediate superintendence of the King, and he himself devoted a considerable portion of time to their consideration. Many alterations were proposed, but at last the code was complete. and it was then handed over under the sign•naanual to the Royal Academy ; so that the Royal Academy exists, not as a private assemblage of in dividuals, but as an establishment under Royal authority, and under the sign manual. As for these laws I may de scribe them in a few words. The society consists of 40 Aca• demicians and 20 associates, and it is provided that when there is a vacancy it shall be supplied by election, that elec tion to be conducted by the Royal Academicians. But no person is allowed to hold the office of Royal Academician except with the assent of the Crown, and before ho is placed in that situation he must have a diploma from the Crown, pointing out his rank and position in the society. Part of' the system is the establishment of a very extensive and gratuitous school for the instruction of stu dents in the fine arts. Certain professors are appointed, four or five in number, and also certain officers who are necessary for carrying on the establishment. I remember hearing many years ago---nearly 70 years ago—that the whole system and code of laws were referred to and con sidered by Lord Camden. I find that at this time Lord Camden was the possessor of the great seal, and we know, according to the practice of those days, that the Lord Chan cellor was in daily private commumeation with the Crown. It is therefore almost impossible that a scheme of this kind should be established, and this system of laws could not in deed well bo constituted without the King taking the ad vice of the Lord Chancellor. I own, my lords, that the various documents under the sign manual are not counter signed by any of the officers of the Crown, and there might be some doubt raised whether this Academy was patronised and under the support of the Crown in its private or its public character. My lords, I do not think it very material to enter into these nice distinctions. What I am stating relates to the franie, the constitution, and the 'circumstances under which the endowment Was placed. Now, my lords, a word or two in respect to its local position. The Royal Aca • demy was founded in 1768. Three years afterwards, in 1771, it was transferred from its original place of residence in Pall-mall to the old palace of Somerset-house by the au thority of the Crown. It remained at the old palace of Somerset-house until the new building was erected. That building, or series of buildings, was erected under the autho rity of an act of Parliament. That act of Parliament pointed out the particular offices ,which were to be accommodated in this building; I think they were to be ten in number; and it provided that on the site of the old palace such other buildings and offices should be erected as his Majesty should think proper to direct. It was under this reserved clause that his Majesty directed that that part of the building which fronts the Strand should bo erected, for the accommodation of the Royal Academy, the Royal Society, and the Society of Antiquaries. The keys of that part of the building intended to be occupied by the Royal Academy were directed by his Majesty to be handed over to Sir Joshua Reynolds, who was then the president. It is clear that at that period the apartments which were assigned to the Royal Academy were held as part of the old palace of the Scivereign and at the will and pleasure of the Sovereign. They continued in the occupation of those apartments un disturbed for a period of nearly 60 years. At the expiration of that time it was found convenient to transfer the Royal Academy from the position they then occupied, in order that other offices should be established on that position ; but on that occasion a special agreement was entered into be tween the Crown and Parliament, in which the Royal Aca demy joined. By virtue of that agreement, and with the consent of the Crown, the Royal Academy was transferred to the National Gallery in Trafalgar-square. It was stipu lated at the time as part of the arrangement that they should hold those premises precisely on the same tenure and with the same rights and privileges as thpy formerly held the premises in Somerset-house. His Majesty consented to this arrangement, Sir Martin Arch er Shea being at that time Presient of the Academy. Thus the matter stands as to the right of the Royal Academy to the apartments they now occupy. They do not hold them of the nation, but of the Crown, and at the pleasure of the Crown. I pass over that part of the subject. I have stated that the society is self-supporting ; that the source from which they have de rived their income is the annual exhibition. The profits of that exhibition have advanced by degrees to their present amount. Tho average for the last 10 years has reached the sum of £7,000 a year. From the very first they have con ducted themselves in the management of that fund with great discretion. They have set apart a sum for accumulation with a view to the perpetuity of that establishment. I know some persons suppose that the members of the Royal Academy may apply this fund as they think proper. Some think they have distributed a portion of it among them selves,. Nothing can be more unfounded. They have no power whatever over the fund. They cannot dispose of any part of it without the consent of the Crown. Upon one or two occasions they advanced large sums towards the relief of the country. In 1798 they voted X5OO for that purpose in aid of the Government. They voted afterwards a similar sum; but the Crown refused its consent, and the money was not advanced. For what purpose is the fund then to be applied? There are certain officers appointed with the view to the schools and the instruction of the students ; among others, a professor of sculpture, a professor of architecture, and a professor of anatomy—all branches of art necessary for an artist. These and certain other officers receive sti pends on a very moderate scale for the discharge of the duties devolving upon them. But the great object of the institution has reference to the schools. The schools are on a most liberal establishment. Any of her Majesty's sub jects have a right to be gratuitously instructed there. No thing more is requisite for that purpose than the production of a certificate of good moral character and a qualification in drawin g . With those qualifications they are admitted to the schools and are instructed gratuitously during as long a period as they think proper to remain. Many hundreds of students have been instructed in the schools connected with the society. At this very moment the number of students is something like 400. Your lordships may ask what has been the result of this instruction. The answer is most satis , factory. During the last 50 years by far the larger pro portion of eminent artists in this country were taught in those schools. 'Two-thirds of the present Royal Academi cians had their education in those schools. I have a list in my pocket of the names of those to whom I have re -1 ferred, but I could not trouble your lordships to read them all, and to read a few would be invidious ; but I will re peat in distinct and precise terms that the most eminent men that have figured in the arts in this country have been educated in those schools. Two-thirds of the present Royal Academicians were so trained and so educated. There is another circumstance worthy of mention. Not long ago it will be recollected that premiums were offered fined Jeing shire Attie as in ni to LINES LEASED AT FIXED RENTALS. Paid. Leasing Closing Business Co.'s. Price. Done. Railways. Ln& N.W In & N. W Caledonin E.U.SzE C Gt. North. ; E. Counts. Bedford and Bletchleyl all litickingliamshire lOO Clydesdale Junction. 100 Colchester. Stour Val., all E.Lincolnsliire,g.op.c. 100 E Union,HarwichSlis. all Do. Woodbridge , 100 Gls.Barr.&Neils,Drct 1 100 Caledonin Do. New ' 100 Do. Gloster& Dean Forest, all Gt. we Hartlpool.Dek. & Rail. , all Yk.N.&Brs Ilull and Selby I all Yk.N.Md. . 1)o.4 Shares all Do. Do. 4 Shares all Do. London&Greenw jell . 100 S. East Do. Preference Lon.,Tilby.&Soutend , 100 Peto &Co. Do. Barking Shares all Do. Lowestoft, gua. 4p. ct lOO Norfolk ..' Do. 6 per cent lOO Do. 7.l(fanc.,Buxtn. &R atk. all LN w&3l Mid a b.& Iledcr, .6p.c. all Stk.& Dar Mid.BradfordPrt. Stk. 100 Midland . NeWmarkt.,BuryEx 1 5. 5.6. E.Counts. guaranteed 5 p. c. Nortlin.& Eastn. 5 p.c. all Do. Do. do. 6 per cent. ... all Do. Do. r e Fixed 5 per cent. all L& N W p Do. stonand Wyre. 1 all & LSI'. I Do. 4 Shares ......A. all Do. R ovs tu,II itch.,& Shep 100 Gt. North. Slit Roth.&Gol.g.sp.c. 18 11 6, L am& Yk Sh rows brv& lleretord all 'T Brassey South Staffordshire .. all M'Clean . Woar Valley, g. 6p. C. all Stk.& Dar Do. do. Wilts and Somerset.. 100 ~ G t. West Wimbledon& Groydn. all I ,L.SLBrgin I Share Docks. DOCKS. gi 11 11. 90 92 8 9 Stock i Commercial Stock iDo 4 perCen t Pre f Min Stock East and West India Stock London Stock St. Katharine Stock Southampton lOO Stock Victoria 20 Do New lB 100 100 100 100 100 I Paid Closing Business Price. Done. 97 99 1 103 105 17 18 ,143 145 41 41 1109 111 65 67; 115 120 . 91 92 2 1! 96 98 I 57 59 1139 111 and liberality in makinc , their selection of a site. (Hear, hear.) The pric e pa id ) for the entire site of Burlington house amounts to no less a sum than £140,000; and if, therefore, we should comply with the wishes of the Royal Academy, we should be allowing them a space of ground of the, value of £70,000, which is a very considerable sum to dispose of to any one society. (Hear.) I thought it right to make this explanati on t o y our lordships, and to inform you that the site to be set apart for the Royal Aca demy, and the principle on which we propose to act in deal ing with it, have been agreed upon. As to the amount of land to be allotted to them, and the particular position which they are to occupy at Burlington-house I can only say thatthese are questions the solution of which must to a certain extent depend upon the claims of those other socie ties to whoin promises have been made, and also upon the sufficiency of the funds of the Royal Academy to enable them adequately to occupy the ground which may be as signed for their use. (Hear, hear.) Lord MONTEAGLE said it was an error to suppose that the building originally occupied by the Royal Academy be longed to the Crown, the fact being that it was public pro perty, and had been erected at the public expense. He was glad to hear the explanation which had just been given by his noble friend opposite, and in no portion of his statement did he more cordially concur than that from which it ap peared that the Government were prepared to paydue regard to the claims of other societies, and not to allow a site of such immense value as Burlington-house, situated as it was in the centre of the metropolis, to be monopolised by a single body. The services rendered to the public by the Royal Academy were such, he was prepared to admit, as entitled them to the utmost consideration, but nothing could in his opinion tend more strongly to defeat the objects of the ne gotiations which were now in progress than that they should endeavour to place themselves beyond the scope of Parlia mentary examination and inquiry. Earl STANIIOPE said there seemed to be some misap prehension with regard to the Society of Antiquaries. That society had held apartments at Somerset-house, but a short time ago a new arrangement had been made with the Go vernment, which was perfectly satisfactory to the council, and they had no intention to make'any claim upon the, ground at Burlington-house. SUBMARINE TELEGRAPHS. Lord WODEHOUSE said he had lately seen a state ment in the newspapers that a company which had extended its telegraphic communications as far as Sicily were dis posed to carry it to Malta, but that the authorities would not permit them to land the cable upon that island. Now, he knew nothing of the merits of the company which had made this proposal, and possibly there were good reasons for refusing it; but at first sight it certainly appeared as if some monopoly were set up in favour of the existing line, that line being connected with the Submarine Com pany, which at present enjoyed a monopoly of the commu nication with France, whereas the rival lino was that of the International and Electric Telegraph Company. The question was one of some importance as a matter of prin ciple, because it involved the mode in which the Govern ment were to deal with the whole telegraphic system in the Mediterranean. He thought we should have done well to have made Malta the centre of our telegraphic commu nications there, and obvious reasons existed in favour of such a course. In all probability we should then have had four lines touching at this island—one from Cagliari to Malta, another from Ragusa to Malta, a third by Naples and Sicily, and eventually a fourth, which would be of still greater importance—namely, a direct line from England, passinc , by Gibraltar—(hear, hear)—and in this case we should have held the key, as it were, of all the telegraphs in the Mediterranean. He feared, however, that the oppor tunity for making such an arrangement had been lost. In a very able Treasury minute, dated February 22 of last year, reasons were given for the decision which had been arrived at in favour of the Austrian line by way of Ragusa and Candia to Alexandria ; but still he thought it of impor tance that no principle should be laid down which would prevent future independent communications front being made. He wished now to call their attention to the ques tion of subsidies and guarantees. The telegraphic system, and especially that of submarine lines, was in its infancy. Although, owing to the failure of the Atlantic cable, such plans were now somewhat out of favour, and although it might at present be impossible to lay down cables of such length with safety and at a moderate expense, yet, looking to the progress of science, it was not to be doubted that means would be found for overcoming all difficulties. If this were the case, of what importance (lid it become that the Government should not give premature guarantees, and should not, for want of properly considering the lines laid down, prevent the future advantageous development of telegraphic conununication. (Hear.) If tho Government had no distinct plan upon which they proceeded they might find that they had not patronised the best lines, and what was still worse, that they had prevented more advantage ous lines from being formed. We had already give a gua rantee! to the Mediterranean Extension Company, which had laid down a telegraphic cable from Cagliari to Malta, and from Malta to Corfu. Then, since last session, a gua rantee had been given to another and more important un dertaking, the Red Sea line. Here he might remind the noble earl (of Donoughmore) that the answer given by him upon this subject at the close of last session was not altogether accurate. The noble earl stated that the Govern ment had under their consideration the competing lines, and although no decision had been come to, it was possible they might choose that by the Persian Gulf, whereas it ao hap pened that the very next morning the newspapers stated, and quite accurately, that the Government had decided in favour of the Red Sea line. He (Lord Wodehouse) did not complain of that decision, which was probably the best which could be arrived at under the circumstances; and, looking to the difficulty of getting any company to under take the work, and to the state of the money-market at that time, the Government were probably justified in the guarantee they had given. It was said that the Turkish Government would proceed with their line, and it would then, no doubt, become a question whether some assistance should not be given to connect it with Kurrachee. Again, negotiations were in a forward state with a view to a gua rantee to the Ragusa, Corfu, and Candia line ; and another guarantee had been given to the Atlantic Telegraph Com pany. He did not know precisely what was the agreement at present existing between this company and the Govern ment. The original subsidy was £14,000 from the English and one of a similar amount from the American Govern ment; but he understood that the company had applied for a considerable increase, and:he should be glad to hear what conditions had been agreed upon with regard to it. What ever might be the result, their lordships would observethat those guarantees were already of considerable magnitude, and he did think that if we were to increase them some de finite system should be adopted on the subject.. It might be doubted how far it was politic to give any guarantees at all. (Hear.) In certain exceptional cases they might be necessary, but upon the whole he believed the Government would act wisely if they declined to involve themselves in any such engagements. (Hear.) He would now conclude by asking the question of which he had given notice—whe ther it was true that tho proposal of a company to lay a submarine telegraph from Naples to Malta had been refused by her Majesty's Government ; and if so, upon what grounds. Also, whether it was the intention of her Ma jesty's Government to grant assistance, either by way of guarantee or subsidy, to other companies beyond those which had already received such assistance ? The Earl of DERBY—I think I shall be able to give a very short and conclusive answer to the question of the noble lord. Three applications have been made to her Ma jesty's Government by different parties for establishing sub marine telegraphic communication with Malta. Two of these applications were made to, and were refused by her Majesty's late Government. They have been repeated to her Ma jesty'S present Government, and are now under considera tion. The third application has been made by what is called the Mediterranean Company, who propose to carry out a small line from Malta to Cape Passaro, a distance of about 70 miles, and her Majesty's Government have stated that if that company can make an arrangement with foreign Governments they will not offer any opposition to flick establishing telegraphic lines, but that, on the other hand, they are not prepared to afford any aid or assistance to the company. I think the noble lord seemed to labour under some misapprehension in speaking of what would have been the case if Malta had been made the great centre 'of telegraphic communication in the Mediterranean, and in expressing his belief that the accomplishment of that object had been prevented partly by the refusal of her Majesty's Government to sanction a lino of telegraph between Naples and Malta, and partly by the establishment by the Austrian Government of the com munication by way of Trieste. So far as Malta is'concerned I donpt hesitate to say that I think it ought to be, and that it is, the central point of communication for the various submarine telegraphic lines of the Mediterranean ; but I do not think, therefore, that we should avoid availing our selves of other means of communication which may be established. We are, consequently in a forward state of negotiation with the Austrian Government, with the object of establishing a telegraphic communication by way of Ragusa. With regard to the noble lord's question as to the Atlantic Telegraph Company, I shall bo glad to have an opportunity of stating generally the principles by which her Majesty's Government think they ought to be guided in dealing with these various telegraphic companies which aro rising in every direction. The noble lord stated that, under a former arrangement, her Majesty's Government had agreed to give the Atlantic Telegraph Company a subsidy of £14,000 a year, and that the Government of the United States were prepared, under certain conditions, to contri bute the same amount ; and he stated that he understood that negotiations were at present in progress between the Atlantic Telegraph Company, and her Majesty's Govern • ment with the view of arranging that a much !larger sub sidy shall be given to the company. Now, in making that statement, the noble lord has confounded two things which are entirely and absolutely different —namely, a subsidy and a guarantee. The Atlantic Telegraph Company, after very praiseworthy efforts to establish telegraphic communi cation with America, most unfortunately sunk the whole of their subscribed capital, and were consequently unable to prosecute the undertaking, and it became necessary, for them, 'if they wished to continue their attempt, to enter into an entirely new arrangement. This being the ease, the agreement entered into with regard to a subsidy of £14,600 a year on the part of her Majesty's Government and of the United States, to be continued so long only as th e company was in process of working, naturally an d en tirely fell to the ground. The company then requested that her Majesty's grant Government w ou ld either tlie m an additional subsidy for the purpose of r a i s i ng newcapital or give a guarantee upon such capital as should be raised. Now there are two kinds of guarantees, and there is also the system of subsidies, a n d th ese three modes of assisting telegraph companies are en ti re l y an d a b so l u t e l y distinct. Propositions have been made at various times, and by various companies, and among others by the Atlantic Telegraph Company, for w h a t I w ill call uncon di t i ona l guara ntees; that is, supposing a company undertook to expend a cer tain sum in the prbsecution of particular work, it was sug gested. that her Majesty's Government should guarante e them the receipt of a certain amount of interest upon the amount so expended. Now, although in one case such a proposal was agreed to, I hold it to be in principle an inde fensible arrangement—(hear)--because it is quite clear that if you, guarantee a company 41 per cent. for 25 or 50 years you have no security, or next to none, that the work will be properly carried on, and you run considerable risk of being compelled to pay for a long period a large sum of money for a service which, after all, is not completed. If the money be expended, and the expenditure prove a loss, it matters not to the company, so long as for 50 years they are to receive their 41 per cent.—(hear, hear)—while in the event iof failure the Government have all the loss, and in the event of success they gain no portion of the profit or advantage. I think it would be much better—though I don't mean to say it is a plan I recommend—that the Go vernment should take the construction of works into their own hands—(hear, hear)—because in that case, instead of paying 41 percent. upon capital, they would probably get - the requisite capital at 3 or 3/ per cent., and if the scheme were unsuccessful they would not lose more than they would do under an absolute guarantee, while,.l filleCCSB• ful, they would - derive all the advantage. In the ease of au unconditional guarantee, ,however, the Government run all the risk, and suffer the loss if the scheme fail, while, if it should prove successful, the company, who have been protected against risk, derive all the profit. (Hear.) But a conditional guarantee is a very different thing, and I take it to be perfectly legitimate in cases where there is a great proposal of success. but at the same time considerable risk of failure. It is, I think, in such cases, perfectly legi timate' to guarantee a' high rate of profit upon the outlay in the event of success, in .consideration of the great amount of risk originally ran by the company. In such a case, therefore, I do not think it at . all beyond the provision of the Government to-give a guarantee it there is a great un dertaking for which, in the event of failure, the Govern ment are not in any way responsible, but which, if it suc ceeds, is likely to produce advantages to the public and great pecuniary results to the company. We are at this time in negotiation with that company, who have asked that a limited 'sum of money may be expended under the supervision of the Government, and that they may have the Government guarantee of S per cent. upon the outlay for a certain number of years so long as the telegraph shall be in working order and capable of performing its duties. Now, I think, if telegraphic communication is established by a sub marine cable between this country and America, it is a very reasonable calculation that the profit may be expected to amount to 8 or 10 per cent., if not more. Supposing, there fore, that the terms to which I have referred were acceded to by the Government, which is not the case at this mo ment, if the profits reaehed 8 per cent. the Government would not be liable to any payment. If -the profits reached C per cent. the Government would then, for the attainment of every important national object, pay 2 per cont., and no more upon the outlay of capital. I think, therefore, that in cases in which the risk of failure is very considerable, but when the prospect of pecuniary advantage in case of success is very great, the Government exercises a wise and judicious course in guaranteeing a certain amount of inte rest in the event of success, but in that event only. There is a third class of cases, which includes not only subnnuine telegraphs, but post. office and packet communication, in which subsidies are asked for. I think no subsidy ought to be given except in cases where an object of great political or commercial imporfsnce is to be secured, and where it is cle ar that, as a mercantile speculation, unaccompanied by some subsidy the project must inevitably fail of success. In such a case I think it is perfectly legitimate on the part of the Go vernment, for great political and commercial objects, to grant a payment or subsidy, wholly irrespective of the profit or loss which might otherwise be experienced. It seems to me, then, that whether with regard to electric telegraphs submarine cable, or the post-office packet communication, absolute and unconditional guarantees should hardly in any case be consented to by the Government ; that conditional guarantees are legitimate when the risk of failure is very great, and when the prospects of profit in case of success are very considerable; but that subsidies ought only to be granted in cases when the prospects of remuneration would rot induce persons to undertake the work as a mercantile speculation, and when the attainment of important political or commercial objects justified the payment of such sub sidies from the public funds. In every proposition that may be submitted to the Government, I think when projects are in other respects equal the Government ought to give a pre ference to those schemes which provide that the whole line of telegraphic communication shall be, if not upon British territory, at least exclusively and absolutely under British control. (Cheers.) Having stated the rules upon which these propositions ought to be considered, viz., the solvency . of the company, the magn it u d e o f th e a bj ec t t o b e a tt a ined, th e pro spect of better offers, the risk to be run, and the interests to be served—the terms must always be a matter of calculation in each separate case. (Hear, hear.) It is impossible to lay down any rule as to the proportionate assistance which her Majesty's Government ought to give, but I hope I have stated distinctly the principles by which, in dealing with the sub ject, I think her Majesty's Government ought to be guided. (Hear, hear.) Earl GREY said he had heard with great satisfaction the statement of the n o bl e ear l . He thought the principle adopted were both sound and right, and above all the prin ciple of giving a preference to those lines which would be entirely under British contra (Hear, hear.) It appeared to him that it was the greatest possible mistake to allow the American Government to be connected with a line of tele graph from one part of the British dominions to another., and he was glad to infer from what th e no bl e ear l h a d stated that it was an error which was not likely to be re peated. (Hear, hear.) He concurred in what the noble earl had said as to conditional guarantees, but he thought that if the Government secured to a company a certain profit on their capital, it was absolutely necessary that the Government should have control over their working expenses, to pre vent jobbery and extravagance. (Hear, hear.) He also concurred with his noble friend who had commenced the conversation,. that it was of very great importance there should be, as soon as possible, an independent sea line from the Land's End to Gibraltar and from Gibraltar to Malta. Lord STANLEY of ALDERLEY approved the state ment of the noble earl, and asked whether her Majesty's Government intended to make it a condition with the At lantic Telegraph Company•that they should abandon their exclusive privilege, and whether the guarantee to the Red Sea and India Telegraph Company was absolute or condi tional. 'The noble lord added that he much regretted that the whole system of electric telegraph communication of this country had not been made part of the postal arrange ments, under the direction of a branch of the Executive. The Earl of DERBY was quite ready to admit, that the terms obtained by the Red Sea Company were of a very favourable character. In one sense the guarantee might be considered absolute on a certain amount, but, on the-other hand, the company contracted to the Government to have the line laid and placed in working order, so that it was not until the line was in that state that the guarantee of the Government arose. As to the Atlantic Telegraph Company, he was glad to say the Government had insisted as a first condition in the negotiations now pendieg, that the mono poly of the company should be abolished, and that the Go vernment should be at liberty to sanction and assist any company which might be disposed to undertake to lay down other lines. If the Government guaranteed a particular company, it Was not the interest of the Government to diminish the profits of that company by encouraging a number of competing lines. But the principle adopted was to repudiate any monopoly, and to hold the Government free to agree with any other company they should think it desirable to do so. (Hear, hear.) Tbe conversation then terminated. DEBTOR AND CREDITOR BILL, Their lordships then wont into committee on this bill. On clause 1, Lord WENSLEYDALE objected to the abolition of ar rest in execution, as being against the reports of all the committees and commissions since 1832, but after a short conversation withdrew his objection, and the clause was agreed to. Clause 2. Lord WYNFORD protested against the power of arrest given to creditors without the intervention of the court. The LORD CHANCELLOR did not think that the noble lord completely understood the clause. By it arrest in ex ecution was abolished, except on a judgment obtained in an action of tort, where the debt had been incurred under false pretences, or in case of an absconding creditor. The clause and clause 3 were then agreed to. Clauses 4 to 92, with some verbal alterations, were agreed On clauso 93, , Lord CRANWORTH said that this clause introduced an important alteration in the law, for it trenched upon the official control over the estates of insolvents. Under the old law before 1831 there was no official assignee, and it was found that more than £2,000,000 money was standing in the names of neglectful assignees. In the face of that ex perience the clause enabled creditors to dispense with the official assignee. And it was the majority in value who were enabled to dispense with that officer ; thus the smaller creditors would be easily swahiped. He quite admitted that in many cases creditors would readily dispense with official assignees. That was because they eould easily appreciate the expense of the official assignee, while they could not ap preciate the expense of reckless and careless management. The LORD CHANCELLOR said the great difficulty which the Government had had to determine was to fix on the course which, under many conflicting representations, they should follow. Petitions had been presented to their lordships' house, asking urgently, that to creditors alone should the right of administering the bankrupt's affairs be given. The Government considered that, under the conflict ing circumstance of the case, the best course to be taken was to give the creditors the power, if they chose, of dispensing with the assignee. A noble lord in the other house had produced a bankruptcy bill, and that noble lord, who was supposed to represent particularly the commercial classes, had introduced in his bill a clause going very much further than the present. With reference to the statement of Lord Cranworth that smaller creditors would be overborne, he (the Lord Chancellor) must say, from his experience, that the commercial community was not slow in looking after their own affairs. The clause was then agreed to. Clauses 94 Jo 110 were agreed to. On clause 111, Lord CRAN WORTH said this clause appeared to him monstrously unjust. Under the present law an insolvent could not get protection without giving up all his property; but under this clause it was provided that if an insolvent had a reversion in seal property the creditor should not have power to sell till the rev ers i oner h a d come into possession. His noble and learned friend said his object was to protect the insolvent against a vindictive creditor, who might wish to sell when the property would realise comparatively little. Why, delay might be the creditor's ruin, and in that case it would be no consolation to tell him that more would be obtained when the debtor's father was dead. Here was a new law for the protecti on o f non -traders whowere interested in real property, and the public would conclude that the object was to favour the landed aristocracy. Lord 'WENSLEYDALE concurred in the objection. The LORD CHANCELLOR said his noble and learned t friends ought to bear in mind that this was the first time it had been enacted that a person interested in real PreY should be compelled to part with his property for the benefit hen of his creditors, and he thought it was only such persons became insolvent they should n be gh p and learned they were bythis clause. Moreover, as his noblethousand times friends were well aware, it was not once in !I of a settled that a trader was a tenant in tail in remainder t ro t tected, as estate. (Hear, hear.) R Lord CANWORTII—He may be. Tho LORD CHANCELLOR said they were not to pro videinst cases of common oc againstpossitilities, but a dbt wainst a the insolvent e or a r , that his object was to protect when its value would be very oc currence. He had not the slightest ga hesitation in saying II said he entirely approved of the Lord CRANWORT s aa m le al o l. f his interest at a time i p n ri p so r n is ulen w t a f s o a r debt, because putting the body andlearned • dshould his noble len relic of barbarism ; but proposal substantially todoawa,_)fy a with debtor ill remem ber that the possession of the estate, mi g ht not happen for fifty y coming into Ile looked upon this clause with deep regret, and repeated even i t n w hich he contemplated, namely, o the insolvent' that it would be regarded by th e country as a clause passed to protect the sons o f th e aria c tocracy and the landed gentry against their creditors. The Earl of DERBY said that compelling men to sell reversions was, in fact, compelling them to r a i se money by pot-obits—a practice which had alway s b een considered highly objectionable. (Hear, hear.) The clause was then agreed to. The remaining, clauses of the bill with some verbal amendments, were then agreed to, and the house resumed. EATON AND WALTON EXCHANGE BILL. This bill passed through committee. BURIAL PLACES BILL. This bill was read a second time. MARRIAGE LAW AMENDMENT BILL. Viscount DUNGANNON gave notice thaton the second reading of this bill he would move that it be read a second time that day six mouths. (Hear.) Their lordships then adjourned at a quarter-past nine. HOUSE OF COMMONS—(YESTERDAY. The SPEAKER took the chair at four o'clock. NEW MEMBER. Mr. HARDY took the oaths and his seat for Midhuret• PRIVATE BUSINESS. Mr. FORSTER moved that - the order, 'that the him,