The Sun. — London, England, 1853-07-05 00:00:00

()ray kmr- Tou inted fedi- M. to be ollet , and 3nne, 3tires the t the ci re pre- obli ling- •than foni- st six ►fit of osing ikons sank, 1)0fr.; ►rofits neral losses t the r the pf the ys esita act to com ) per el did from e ser- infor- tuali of th© is to as to odera- age of fears.' taking ers to .net of opt to )used ; to its e that utting tenni urkish o send gh, to mmon an be e eyes ig tes :e still ;ussia, unjus- Rus f the jects, e all 1 the new to a , into 15th, imself e are ! an as of held irch, ctent n fa knit rea- from ay at is of , the ) the , the rid a onth ,an .d tn€;(3 rsin g Oc. ; the isof. MONEY MARKET AND COMMERCIAL INTELLIGENCE-(THIS DAY.) CITY, TWO O'CLOCK. The sales of cotton at Liverpool yesterday were estimated at 10,000 bales, of which 4,000 American were taken for export and on speculation The mar ket was very firm, and closed with prices of Ame rican tight. Other kinds without alteration. The sales comprised 8,000 American ; 200 Pernam and Maranham, at bid. to Bd. ; 150 Bahia, at eid. to ; 1,000 Egyptian, at 6d. to 12d. ; 700 Surat, at 3d. to 4id. ; and 120 Sea Island, at Is. 10d. to 2s. 6d. per lb. Railway shares were very dull, at a decline of one per cent, on all the leading stocks. The Savings Banks' deputation from Scotland, which waited upon the Chancellor of the Exchequer a day or two since, was composed of very influen tial parties in Glasgow practically conversant with 'the management of such establishments, and there fore entitled to have their opinions treated with due consideration. Among the gentlemen who at tended were James Drummond, Esq., William Meikle, Esq., M e l v ill e J a mi e son John Sherrock, Esq., Th omas G ra nt, Esq. ' ~ John Mac gregor, Esq., M.P., Sir James Anderson, M.P., Charles Cowan, Esq., M.P., and several other members of the legislature. The object of the deputation was to induce the Chancellor of the Exchequer to modify some of the stringent pro visions of his new bill, so as not to interfere too much with the existing managers and trustees, who at the same time appear to be conscious that a more stringent system must be adopted in order to l give full security to depositors. It is ad m itt e d that all the banks are not equally well managed and therefore a check is indispensabl e , b ut the views of the deputation may be gleaned from the follow ing : " Without going into the details of the measure, the following may be stated as th e more prominent of the provisions to which the memorialists are instructed to object : " I.—CONSTANT PERSONAL ATTENDANCE OF TRUSTEES (clauses 11, 13, and 32).—This regulation is objected to as being !holly impracticable, unnecessary, and inexpe dient. It is utterly inconsistent with the benevolent and gratuitous nature of their office, and would demand a sacrifice of their time and attention to which they could not submit. The other securities and checks which will be obtained under a proper system of audit and inspec tion, render the requirement unnecessary. The proposed enactment is inexpedient, in so far as it is calculat e d to deter the working classes from becoming depositors, when th ey are called on to make their deposits and withdraw their funds in the presence of their masters and other employers, to which they are generally re luctant. " lI — REDUCTION OF THE RATE OF INTEREST (clause 18).—The bill proposes to reduce the present rate of 3/. 58, per cent., to 21. 10s. with an allowance of 6s. Bd. per cent. for expenses of management, subject to the control of the Commissioners for the Reduction of the National Debt. "1. The memorialists object to this reduction. From the results of long practical experience they confidently maintain that the present rate of interest forms one of the most powerful attractions to the working classes to becom e depositors ; while it is not so high as to offer any temptation to abuse on the part of those classes not designed as beneficiaries under the savings' bank system. "2. The cost to the country involved in the mainte nance of the present rate is insignificant compared to the national benefits derived from a liberal encourage ment and extension of savings' banks, and the important influences they exert on the morality and industry of the people. "3. If the reduction is sanctioned, the wealthy capi talist will be enabled to derive a better return from the public funds than the working man, and Government will make a small annual gain of the investments of the working classes—thus in both way reversing the prin ciple of all previous legislation on the subject. "4. If a uniform fixed rate is enacted for depositors, there is the greater necessity for a rate more nearly approximating an average rate than 2/. 10s. per cent. ; and it should not be less than 2/. 155.. per cent. ; which would involve no expense to the country. " The trustees of the savings banks in Scotland deem immediate legislation necessary, with the view of giving increased security to depositers. " Besides urging the above objections, they would respectfully suggest— I.—That in place of appointing receivers, which would entail a heavy expense, and create an anomaly in the management of the Bank, the Government might with perfect safety interpose their guarantee for the repayment of all deposits 1. The appointment by the Government of the chief officer of the Bank, on the recommendation of the trustees and managers, with power to the Government to remove him at pleasure. 2. On being satisfied of the extent and sufficiency of the security bonds of the present office bearers. 3. On a periodical examination of the books of the Bank by the trustees and managers. 4. On the appointment, by the Government, of an efficient body of auditors and inspectors, acting independently of the trustees and - managers. " Such a system would afford more practical safe guards against fraud and mismanagement than the pro- Posed appointment of receivers. It would have no injurious effect on those institutions _which have been unin terruptedly prosperous, and well managed ; and the saving effected in the expenses would form a sufficient fund for a guarantee against every possible loss. " 11. For the still more complete protection of the Government, the memoriali s ts wou ld sugges t, th a t in stead of the provision in the bill which sanctions only one audit in the year, on specified days previously known to the officers in attendance, power be given to the auditors and inspectors to enter the bank at any time, without previous intimation, and examine into every detail, and especially to compare the ledgers with the depositors' books produced in the ordinary course of business. "This audit and inspection could be accomplished 'without difficulty, and at the same time be more con clusive and satisfactory to the Government than the mode suggested by the bill." There is a rumour that the French Government ilas received intelligence from the English Govern- Ment that the Fleet is not yet to enter the Darda nelles. 4 1 ;he English Securities have been fluctuating trland there is compartively strong support , 7 ,en, notwithst an di ng the official order from St. o_elnersburgh. to enter the Tu r ki s h principalities, 114 7; to the cordial co-operation between England 9 7 ; 5 ' panes. Consols have been for the account at hat-giaand are now 9 i r re 7/ The New 3 1 per cents. to 100 i to 101 k, and the 3 per Cents. 981 Bills Stock has been firm at 2281 to 2291. Exche quer premium _ have b een wea ker at .Is. to 4s. &lid India Bonds are at 255. to 30s. pre is s Ft l re n i gle leBxteeenuisl been don a. vtiees have been variable, but there Cents, atet 261 selling. Mexican Bonds have quest, and is and Brazilian Newper The Swedish Loan has been in re are at ,31, and R A premium. Sardinian Bonds f umy 8 Russian 5 per Cents. have been upported at 116 t to 117. Dutch per Cents, have been at 63 to / Spanish 3 per Cents, have been steady a a t 45 1 - to . 46i ex div., and the Deferred Bonds at 22k 4 Ra i ilw . ay Shares have bo . en moderately dealt in, and prices have have b een varied m uc h . South-Western The oißcirin,..er, not :nd a l so the French shares. and nonanally-alina. Shares have been very quiet, The shar es re su PPerted. vanced. of the Lan d C ompanies have ad _ BRITISH FUNDS TRIS (From the 021cia Y DA AT . ONE O'CLOCK. l List) Busines s done. Bank Stock 3 per Cent. Reduced Annuities. ••"••••••• 2284 g 3 per Cent. Consols Annuities "" • ••• 08A a l New 31 per Cent. Annuities shut . Long Annuities, Expire sth Jan., lOl e lOO7 Dittc 30 Years, Expire 10th Oct., 1859 5 .. -16 India Stock .................................. 046 India Bonds, £lOOO ..... ................ ; h e t Ditto, under £lOOO 25 3 0 Consols for Account 97 a Exchequer Bills, ld. .21000 . £5OO Small . ... 1 4 PRICE OF FOREIGN FUNDS AT ONE ._ O'CLOCK. Brazili an B on d s, 5 per Cent Ditto Small Ditto 5 per C en t. (R othchild ' s) 99 Ditto New, 1852 , 4} per Cent Mexican 3 per Cent. 26 It ursian Bonds, 5 p er C ent. Sardinian Bonds, 5 per Ct 1 1 361 17 S panish Bonds , , 3 per Cent en 4si Spanish New Deferred, 3 per Cent 22k 6} Ditto Passive (Converted) 8 Sw edish Loa B n .... nu. .... . Bern Di vidends on the ab ove payable in London. 4i per Cent. Dutch Exchange, 21 per Cont. HALF-PAST TWO. Consols for Opening 19th July 971 i i 7 x d Pirtu "- T A ox BOARD THE TRIDENT STEAMER.--While the ri ent Morn Edinbur,h) was yesterday . evening f a livering h er , aloe *de St. Kathrine s-w ar , fire broke out cargo irthe ff,e s r i hold, which could not be entirely 1, c'ecked until a the vessel was filled with water from the fire en g i nes in a tt endance. The fire was con fined t o th e ho third of th e carg ld in which it or i g i nated. About one- VESSELS IN o had been disch arge d when it occurred. SS ' — ln consequence of a commu sioners.nication received from the Board of Trade, the Commis of Customs have issued orders to the collectors Commis and comptrollers, at the several ports throughout the United Kingdom, directing them to report whether vessels driven into their respective ports by stress of weather are exempted from all dues, both on the cargo and the ships, and what are the r egulations as regards the cargoes of ships entering in distress, and condemned as unseaworthy, in the event of reshipment and expor tation in other vessels. 20 20 10 St. 13i 20 20 50 St. 16 St. St. 121 12; 124 St. 10 25 10 1.0.6 Po r 10 20 20 20 10 20 10 20 SHARE MA.RKgTS.-(THIS DAY.) BRITISH RAILWAYS. Closing Prices Yesterday. Butness dons this day. RAILWA Y9B 26 - 26 5 9i 104 9 7d 20 - 22 34 - 2i ti 100 - 101 661 -66 i 214 - 22 194 - 204 34 8 - 9 - 34 4 124 - 124 11i - 12 71 t - 9 - 72 50 - 55 70 - 72 28' - 30 —•-• 844 — 8 5 i 53 55 3 . 33 - 135 109 110 88 883 73 7i I 100 105 17 18 p 76 764 4 - 40 3g 3Ad 14 15 8 3 -- 8i 103 * i -- IG4A p 1 414 -114 A 2fp 1 -- lfp 88A -89 A 5A -- 4j -- 3Ad 11 -- 13 18 -- 20 28A -29 i - 704, 40 - 42 i 51 - 57 i - i I, 2i - 3 8 - 9 49 - 51 h— 2i d 32 —33 5 • 4ict 81 - &I 47i 92 - 94 58 - 62 58 - 62 68 72 11 idis 17 19 8 9 136 6 1 46 36 41 19 21. 69 70 351 364 13 -- 14 2i . - 28 2i 154 9 94 .30 32 10 104 6 d par 67 68'' 8 - 2A -- 2Ad 57 58 Aberdeen Nottug. Bost da Eastn. June. Birmng. Wolverh. dt Stour Valley Birkenhd. I/mesh. di Cheshire Junet Do. Chesh. tit Birk., £5O do £25 Cens Do., £2O. Bristol & Exeter Caledonian. Cbestor do Holyhead Cork and Bandon.... Cork, Black. & Pass. Dublin&BelfastJunc. Dundee Perth &Aber. deen Junction ....... Do. New East Anglian (.£25 L. & E. & L. & D.) Do., (XlB E. & IL) Eastern Counties Eastern Union, Class A. late E. U. Sh Do., do. Do., B. & C.. East Lancashire East & West Inst. Dk. & Birming. June—. Edinburgh& Glasgow Edinb. and Peebles Edinb.Prth.&Dundee Glasgow & S. Western Great Northern Stk Do., A. Stock Do., B. Stock Gt. Sth. &West. (Ire.) Great Western .. Irish South-Easters. Lancaster & Carlisle Do., Thirds Lancash. &Yorkshire Do., Fifths Do., Wst. Riding lin Leeds Northern Liv. Crsby. & Soutb pt. London & Blackwall Loud. Tilb. & Sthend. Loud. Bright. dr S. Cst. London & N. Western) Do. Fifths D0.,16/.5h.,M&E...0 London dr S.Westorn Do., .Z 40.... ..... ...... Ludndrry.&Coleraine Lndndrry. & Ennisk. Mzuch.Shef.drLineln. Do., Man. dt Lill. Un. Midland . Do. Birming. & Derby Midland G. West.(lr.) Do. i Shares Newcastle & Carlisle Newmarket Do. Bury Extensions Newpt.AbergArHtfd Newry do Enniakifien Newry Warrenpoint di Rostrevor N0rf01k........... ..... LOU all 32 LOU 13 Do., New Northn. Counties Un North British . 17i all 10 00 !North Devon, No.l Do., No. 2. Dc., a A Deferred Do., a B Guaranteed North Staffordshire North Western.. N. tit S. Westrn. June. Oxford Worcester di Wolverhampton Scottish Central , 'Scottish Midland.. Shrewsbury & Birrng. Do., L. & N. Westn. Guaranteed Stock Shrewsby. & Herofd Shrewsby. & Chester (Nor. W. Min.) Do. Halves, do. Do. Oswestry Shropshire Union South Devon South Eastern ..... South Wales S. Yorksh. River Dun Stockton tlx Hartlepl. Thames Haven Dock and Rai1way....... .. Vale of Neath ..... Waterfd. & Kilkenny Waterford&Limerick Wost Cornwall.. Wmbledon &Croydon Woodford York Newctl. &Berw I Do. Extensions !Do. G.N.E. Purchase York dx N. Midland.. PREFERENCE SHARES Aberdeen . Do., No. 2, 7 p. c... Bris. & Ex. 4 p. c. St. Do. 4 p. c. Shares .., Caledonian £lO ...... Chester & Holyhead Guar. 5} per cent... Cork &Bandon 5 p.c.l Dundee Perth&Aber-1 dem Junction EastA nglian 10s) 1 6 per cent Do. (115) 7 per cent Do. (,7175) 7 p. ct Eastern Counties Ex tension, 5 p. c. No.l Do., No. 2 ..... Do., New 6 p. c. St Eastern Union, Scrip Guar. 6 per cent EastLancash. 6 p.cts Ediub. Prth . &Dundee 54 per cent Glasgow & S.Western guar. 5 per cent Great Northr 5 p.c Do. 5 p. c.,Redecm., at 10 p. c. pram Gt. Southn. &Westn (Ireland) Eighths Gt. Westn. (Berks & Hants Ex. 5 p. c.) G. West. fixed 4i p c Lan. & York. F. £2O, 'Do., 6 p. c., Stock London and,Brighton Guaranteed 5 p. c Do. Pref., 5 p. c. St Do. Convertible, 5 p c., 1852 ...... Do. New Guar. 6 p.c. London & S. Western, Con. Thirds Londonderry& Color A Shares andy. & Ennis. Sh I Manch.,Shef., & Lin., . . i Shares, No. 1...... Do. Now, £10......... Do., £6. Marypt.d/Carl. 4 p. c. Do. 4 t -i per cent....... Do Mid. Consol. 6 p.c. St. Do. Consol. Bristol & Birm. 6 per cent Do. Pref. 4i per cent Norfolk Extension Do. Guar. 5i per ct Do. Way. Val. 5 p c North British North Staffordshire Oxford Worcester dz Wolvcrh. £15,6 p. c Do Shrews& Birm. N. G Shrcwsby. & Chester (Nor. W. Min),B p. c. Do. 5 per cent South Devon iDo. New S. Eastern (Reading Anu.,) of £1 Os.6d. S.Yorksh.4p.e.Gaar. Watcrfd. &Kilk. 6p. e. York Newcastle and Berwick, 4 p.c.Pref Do York& N. Midland B & S. Parch FOR, Ant werp&Rotterdam Beßlgian Eastu. June. ziers to Graissessac Charleroi & Erquclin. Dijon and Besa.non.. Dutch Rhenish ....... Doindian ... . . . Extension ... Gt. Indian Pe Juliet. Gd. Juliet. of Prance Gt. Western of Canada Shares ........ Lucca & Pistoi a 5 p: prof.e. Luxembourg....... Do. (Railway)....... Do. ...................... Do. (Canal) Do. 6 p. et. prof Lyons & Mediterran Madras Namur & Liege (with interest) Do. (ex interest)..._ - Northern of Franco Do. 20/. 3 p. c Bds (filly. B. & Ams. Sh s. ) NorwegianTrunkPref Paris and Lyons Paris and Orleans Paris and Rouen Paris and Strasbourg ParisCaen & Cherbrg Quebec & Richmond Rouen and Havre Royal Swedish Sambre and Meuse... Sth-Eastrn. of France Southern of France.. Upper India Scrip... West Flanders ....... Do. 5, 1 , per c. Prof Western of France West. of Switzerland' ZealanU :IGN, 92 - - 96 88 -- 92 107 •- 109 107 •- 169 19i —20 i ia - par 68 61 4 4i 5 -- 5 A i - iiili 14 -- 2h p -- 2 p 14i -15 i -2: 3i -3! iiii = 130 111 l - 113 Eii - si 7i 105 1071 A d inn 151 154 154 - 157 3 - 4 10 - 11 13i - 13 8 9 10, ... --• 1150 152 Par 116 —• 118 118 122 115 - 117 25i - 26 1 13 101 —10 i 174 183 1p 143 153 Par 25 264 193 203 id par 102 104 54 53 i - irl 1i 1 d' 1 id 14 —l5 par—, ii a - s?p - lip - 2zp r- i p - ~ a~ ". -... li -.. 'iAll), 7 - 7i 344,} - 34! 14 —l5 8 9 15 15} 'lO —42 39 —4O --34 i .34 -- id par 18 19 4d 7i - 4 - 5p iP 4 - 5 8 1i ,3 8 d 3 2id, 184 100 100 all all all 25 25 St. 50 50 25 1.00 St. 100 100 100 100 all 1.00 all 15 all all 13 21s. 100 i 53i 3 133 i 87i 81 1 7i 76 i pm 11i 141 8/ 104 3i 1141 14 89i 81 28i 70 i 69i 36 5i 671 8 111- 121 3541 THE SUN, LONDON, TUESDAY EVENING, JULY 5 1851. trititrb IZZlttion NEWMARKET RACES. (THIS DAY.) (BY ELECTRIC TELEGRAPH.) HANDICAP, 20 Sovs. Petrel JULY STAKES. 11Larsyas CARLISLE RACES. (THIS DA Y.) (BY ELECTRIC TELEGRAPH.) GORBY CASSLE STAKES. Garrulity Bridesmaid Three ran WORCESTER RACES. (THIS DAY.) (BY ELECTRIC TELEGRAPH) SEVERN STAKES. Octavia Osbaldiston Five ran. TWO-YEAR-OLD STAKES. Balmoral . Wave .... Indiana . Five ran. 1 SPORTING INTELLIGENCE. (BY ELECTRIC TELEGRAPH.) NEWMARKET - (THIS DAY.) ARRIVALS. July Stakes—Astolfo, Calliope, Marsyas, Mirabeau, Druid, Haze, Student, Brigliadoro, Macduff, Caliban, Delia, Quince, Mountain Hawk, Spinaway. Run at 4.45. ENTRY. Handicap, 20 sovs.—Brawn, Rat 71b ; Mountain Flower, Bst 21b ; Cheddar, 7st 111 b ; Petrel, 7st Mb. Run at 3.15. CARLISLE-(THIS DAY.) ARRIVALS. Corby Castle Stakes—Garrulity, Bridesmaid, Miss Carlisle. Hunters' Stakes—John Dory, Stockbridge Buck. Grand Stand Plate—Lerrywheut, John Dory, Gipsy Boy, Harker, Agnes Wickfield, Axwell, Friar's-hall, Pit fall, Queen of the Lothians, Helen Faucit, Agnes Gobbo, Ganymede. For other races—Happy Joe, Haricot, Rawsand, Ground Heavy. ENTRY. Maiden Plate—Baron Dozy, The Major, Little Mary, Hannah, Queen of the Lothians, Pitfall, Fairthorn, Solyman, Monkton. WORCESTER--(THIS DAY.) ARRIVALS. Two-year-old Stakes—Balmoral, Emperor, Indiana, Norma, Wave. Run at 2.45. Worcestershire Stakes—Garforth, Le Juif, Kiteflyer, Mayday, Clothworker, Melford, Gladiole, Calot, lanthe, Chance, Octavia, Ibis, Mary Ann, Missive, Tavistock, Allington, Snarry, Deerhound, Patience, Battery; Buckskin, Chaffwax, Tame, Prevention, Lady Flora, St. George, Eliza, Evadne. Run at 3.45. Tradesmans' Handicap—Gaylo,d, Odiham, Sleeping Partner, Sally. Run at 4.45. For other races—Osbaldeston, Chilton, Liberty. No betting. TATTERSALL'S—MoNDAY. The attention of the subscribers, who mustered nume rously in the course of the afternoon, was chiefly occu pied with the Newcastle accounts—the most prominent feature in which was the Northumberland Plate, one of the best betting races the bookmakers have had for some time past, and the result of which was hailed by " the Ring" with the most cordial feelings of satisfaction. The transactions on coming events were for the most part relative to the Goodwood Stakes, for which Sextus and Hobby Horse were backed for a good deal of money at 10 to 1 each. Crusader (c by Crozier, out of Sum merhill,) and Placid, were also in some demand ; 20 to 1 taken to various small sums about the former, 500 to 25, 1,000 to 60, and finally 2,000 to 90 about the latter. JULY STAKES.—Ruby's non-appearance at Newmarket was clearly indicated by the investments made on Astolfo at 5 to 2, Calliope 7 to 2, and 3 to 1 (the latter taken to 1001., and Marsyas at 4 to 1. LIVERPOOL dUP.—Goorkah was backed for about 2001. at 4 to 1, and 160 to 20 betted against his win ning this event, and West Australian the St. Leger. THE DERBY.-12 to 1 taken to 150 about Autocrat ; 1,000 to 45 and 1,000 to 50, Prince Arthur ; 1,000 to 50 and 1,000 to 40, Woodcote, the latter the current price at the close ; 1,000 to 30 to some money about Reel colt ; 2,000 to 50 about Dr. O'Toole ; 30 to 1 Andover, and 50 to 1 the Novice. The prices at the conclusion of business were as fol lows : JULY STAKES (NEWMARKET). 2to 1 agst Astolfo (5 to 2 taken). 3to 1 agst Calliope (taken). 4to 1 agst Marsyas (taken). CHESTERFIELD STAKES. 4 to 1 agst Brother to Mountain Deer (taken). LIVERPOOL CUP. 4to 1 agst Goorkah (taken). Bto 1 agst Daniel O'Rourke (taken). 10 to 1 agst Harbinger. 12 to 1 agst Waterfall (taken). GOODWOOD STAKES. 9to 1 agst Sextus (10 to 1 taken freely). 9to 1 agst Little Harry (taken). 10 to 1 agst Hobbyhorse (taken). 12 to 1 agst Teddington (taken). 20 to 1 agst Crusader (taken). 20 to 1 agst Placid (taken). 20 to 1 agst Vindex (taken). ST. LEGER. 9to 8 agst West Australian (taken to 501.) Bto 1 agst The Reiver (taken.) Bto 1 agst Sittingbourno (taken). 12 to 1 agst Cineas (15 to 1 also laid). 20 to 1 agst Honeywood (taken). DERBY. 12 to 1 agst Autocrat (taken). 20 to 1 agst Prince Arthur (taken). 25 to 1 agst Woodcote (taken). 30 to 1 agst Andover (taken). 33 to 1 agst Reel colt (taken). 40 to 1 agst Doctor O'Toole (taken). 50 to 1 agst The Novice (taken). MARKET NEWS-(TjEIIS DAY.) COLONIAL. SUGAR.—The market is very firm, and the auctions are not large. The quantity of British Plantation landed last week at the East and West India Docks was 2,124 hhds., 210 tierces, 1,649 barrels. There ware taken for home con sumption 2,032 hhds., 134 tierces, 1686 barrels. The Stock in the same places is 10,802 hhds.., 1,800 tierces, 4,978 barrels. COFFEE.—This article is quiet at about previous rates. ItUM.—The quantity landed last week at the East and West India Docks was 729 puns. There wero taken for home consumption 152 puns. 12 hh.fls., and exported 107 puns. 87 hhds. The stock in the same places is 8,205 puns. 421 hhds. RICE.—At auction 4,140 bags Madras, all sold at Os 6d to 10s 6(1 for mid and good. SALTPETRE.-1,100 bags Bengal offered by auction, were all taken in at 28s, one lot 28s 6d, for 4i per cent. refrac tion. TALLOW.—P.Y.C., is 53s to 53s 3d per cwt. on the spot, and town 525. Market very .firm. TEA.—There is not so much doh] g, and the deliveries are less considerable than they we Ire. Public sales are announced for to-morrow. HAY MARKER'S. SMITHFIELD.—Meadow hay, 3/ 5s to 4/ 5s ; clover ditto, 41 Os to 5/ 5s ; and straw, 1/ Ss to 1/ 14s per load. A fair average supply, and a sluggisi 'I demand. OIIMBERLAND.—Meadow hay, 3 / 5s to 4/ 8s; clover ditto, 4/ Os to Si 5s ; and straw, 1/ 8 a to 1/ 15s per load. Supply good, and trade rather dull. WHITECHAPEL.—Meadow hay, :3/ 5s to 4/ 6s ; clover ditto, 4/ 5s to 5/ 8s ; and straw, 11 i's to 1/ 14s per load. Trade rather dull. LLOYD'S SHIPPING.--(THIS DAY.) LONDON, July s.—Wind this i Lay at Noon, SW. ; fine.—A fire broke broke out last evening on board the Trident (s), just arrived from Lc iith, and lying at St. Catherine's wharf, by which the ves 601 was damaged to a serious extent. DEAL, July 5.—(9'10 a.m., pi u. Elec. Tel.)—Wind, S.W.. by W. Arrived—Hoffman ~ Batavia ; American schooner, Mazatlan • Janet Boyd, St. Vinc en t ; M e d ora , ' Fobago • Sharp, Colombo ; Canal a, Calle ; Mary, Now Yoak. Arrived from the River —Piedad, for Seville. Sailed—Northumberland, Sydney, N.S.W. ; Atheman, ditto. COWES, July 3.—Wind, W. . Arrived—Lady Knight, Havannah. _ . . . . YARMOUTH, July 4.—The Ac lelphi, of Shields, got ashore on the North Seroby San .d this morning, and re mains. ___.....„ ' s.: W l - ;. , l i i gl e t a a o i r r i s ; d Arri o. T v h l e( e — French brig with which the Kor , rvegen, from London to S F e e t ro a n n T d H, co J n ial so y ry 3 a . —torWe,inOd'el S. es Quebec, put in here, was the P.' 6rouche, of Nants, from the West Indies, which sank : aro w saved. CARDIFF, July 4.—An explosic ai of gas, generated by s team coals, took place this afternoon on board the brig ind ependent', of Dunkirk, by wb ich her decks are ouch injured and beams broken. SOUTHAMPTON July 4.—Wind ~ S.E. Sailed—Bengal, Alexandria. ' c no ; sN Cali TA T E p, D UMFRIES, J u ly 3 . —A rr i ve d— J o h n Wil son, Q ue b ec. QUEENST OWN , J uly 3.—Wind 1, W. Arrived—Gloria, Galati I Pj u e, n C e o 2 n 6 st ._ anTtihoM onarch nop 10. the 22d inst. to the N . E . of Lave :nskar, but came off again got aground on after throwing a portion of cat.go overboard ; the vessel makes no matter, and apparently has sustained no damage. MELBOURNE, March B.—The _A lecto is ashore near Point 1 Richard (Geelong), and must disc barge to lighten. PARLIAMENTARY DIVISIONS. HOUSE OF COMMONS.—JULY 4. (From the Votes and Proceedings of the House of Commons.) SUCCESSION DUTY BILL. Clause 33 (In estimating the value of a succession, no allowance shall be made in respect of any incumbrance thereon, created or incurred by the successor, whether by appointment or otherwise, not made in execution of a limited sower of appointment, but an allowance shall be made in respect of all other incumbrances, provided that upon any successor becoming entitled to real pro perty, subject to any prior principal charge, an allowance shall be made to him in respect only of the yearly sums payable by way of interest or otherwise on such charge, as reducing the annual value, pro tanto, of such real property). Amendment proposed, in p. 11, 1. 15, after the word "successor," to insert the words "after the time appointed for the commencement of this act." Question put, "That those words be there inserted." The committee divided ; Ayes, 116, Noes 124. MINORITY—AYES 116. Anson, Viscount Fioy - er, John North, Colonel Arbuthnot, Gen. French, 1. Oakes, J. lI.tP. Archdall, Captain Fre,hfleid, J. I'acke, C. William Aspinall, J. T. Frewen, C. li. Pactington, Sir J. Bailey. C. Fuller, Augustus E. Palmer, Robert Ball, Edward Galway, Viscount Parker, Robert T. Bankes, G. Granby, Marquis of Patten, J. Harrington, Viscount Raiford, Sir Henry Pennant, Col. Barrow, Wm. H. Hain!lton, Geo. A. Fercy, J. William Bateson, T. Banbury, Spencer B Philipps, John Henry Bellew, Captain Harcourt, Col. Phillimore„ J. Bennet, Philip Hastie, Archibald Pugh, D. Bentinck, G. P. Hawkins, William Repton, IL WJ. Berke,ey, Sir G. : Henley. J. W, Sawle, C. B. Graves Booker, T. W. Berbert, Sir Thomas Scott, Francis Bramston. T. W, Hill, Lord Arthur E. Seahaw, Lord Bruce, C. L. C. Hotham, Lord Strijth, Sir W. Buck, Lewis W. Hudson, George Smith, M. Tucker Buller, Sir J. Y. Irton, Samuel Smith, Wm. M. Butt, Geo. Medd Johnstone, James Smyth. Roger J. Butt, I. Jolllffe, Sir W. G. H. Sorner,et, Captain Campbell, Sir Arch. Jones, Capt. Spooner, It. Clive, Robert Kelly, Sir F. Stafford, A. Cobbold, J. C. Kendall, Nicholas Stanhope, James B. Cocks, T. Somers Knatchbull, W. F. Stanley, Lord Codrington, Sir W. Knightley, Rainald Stuart, 11. Corry, Henry Lowry Lennox, Lord A. 'I rollope, Sir John Davie, Sir H. Lennox. Lord IL G. Tyler, Sir G. Davies, D. A. S. Liddell, H. G. Vance, J. Hering, Sir E. Lockhart, W. Vyvyan, Sir It. Disraeli, Benjamin Lytton, Sir E. B. Walpole, S. H. Drummond, Henry Manners, Lord J. Walsh, Sir J. B. Duckworth, Sir J. Meux, Sir Henry Wellesley, Lord C. Duncombe, W. E. Michell, William Whitmore, Henry Dunne, Col. Mowbray, J. Wodahouse, E. Egerton, W. Napier, Joseph Wyane, W. Egerton, E. Neeld, Joseph Elmley, Viscount Newdegate, C. TELLERS. Evelyn, W. Newport, Viscount Mullings, J. R. Farnham, E. Basil Noel, Bon. G. .Malins, Richard MAJORITY-NOES 124. I Anderson, Sir James Goderich, Viscount Palmerston, Viscount Baines, M T. Goodman, Sir G. Peahen, Sir G. 1 Baring, Sir F. Gower, F. L. Peel, F. Beaumont, W. B. Graham, Sir J. Pellatt, A Bell, James Greene, J. Phillimore, Rob. J. Berkeley, Adm. Gregson, Samuel Pilkington. James Berkeley, H. Grey, Sir G. Pinney, William Berkeley, Hon. C. F. Hamner, Sir John Pollard-Urquhart, W. Bethell, Richard Eaitie, Alexander Portman, W. Biggs. William Headlam, T. E. Price, Sir R. Bonham-Carter, John Heard, J. I. Ricardo, 0. Bowyer, George lieneage, G. F. Rice, E. Boyle, Col. Herbert, Sidney Russell, F. C. Brand, H. Hervey, Lord A. Seymour, W. D. Brother ton, J. Higgins, George Smith, John Abel Butler, Charles S. Hogg, Sir James W. Smyth, it. Byng, Hn. G. Charles Howard, Lord E. Smollett, A. Cardwell, Hon. E. Hutt, William Stafford, Marquis Clay, Sir W. Jermyn, Earl Strickland, Sir G. Cobbett, John M. Keating, H. S. Sti utt, E. Cockburn, Sir A. Kershaw, James Sull.van, M. Collier, Robert P. Kingscote, R. N. F. Thompson, George Craufurd, E. H. J. Laing, S. Thornely, Thomas Crossley, Frank Langston, J. H. Traill, G. Dalkeith, Earl Layard, A. H. Vane, Lord H. Dashsrood, Sir G. H. Lee, W. Villiers, Hon. C. Denison, J. E. Lemon, Sir C. Walmsley, Sir J. Dent, J. Loveden, P. Wells, W. Duncan, George Lowe, Robert Whitbread, Samuel Dundas, F. Mackie, J. Wickham, H. W. Dunlop, A. Marjoribanks, D. Wilkinson, W. A. Elliot, J. E. Massey, W. N. Wilcox, B. Esmonde, John Mil's, Thomas Williams, Wi!!lam Easton, Earl Milner, W. M. E. Wllson, James F'elden, M. J. M onck, Viscount Winnington, Sir T. Fergus, J. Morris, D. Wise, Ashford Ferguson, Colonel Mostyn,..E. M. Wood, Sir C. Ferguson, Joseph Mr grave, Earl Wy vill, M. Fitzroy, Henry Murphy, F. Stack Forster, J. Notfeys, Lord TELLERS, Fox, R. O'llaberty, A. Geach, Charles Op.bo:ne, Ralph llayter, W. G. Gladstone, William Otway, Arthur John Berkeley, Grenville Clause 44 (Notice of succession to be given to the commis sioners, and a return of the property made. Amendment proposed, in p. 14, 1. 39, to leave out from the word Provided "to the word " and," in p. 15,1.4. Question put, " That the words proposed to be left out stand part of the clause." The committee divided—Ayes, 164 ; Noes, 139. MAJORITY—AYES, 164. A'Court, C. H. W. Gardner, Richard Muro, Colonel A Bair, 11. Geach, Charles Murrougli, J. P. A ieuck, Thomas Gibson, T. M. Norreys, Lord Anderson, Sir James Gladstone, William Osborne, Ralph Baines, Matthew T. Goderich, Viscount Otway, A. J. Baring, sir F. T. Goodman, sir George Paget, Lord George Bass, Michael Thos. Gower, F. L. Palmer, R. Beaumont, W. B. Graham, Sir James Patten, J. Bell. James Greenall, G. Pecbell, Sir G, B. Itenbow, John Greene, John Peel Frederick Berkeley. Admiral treason, Samuel Peliatt, Apsley Bethell, Sir Richard Grey, Sir G. Thillimore, R. J. Biggs, William Hall, Sir Benjamin Pbinn, T. Bonham-Carter, J. Hanmer, Sir J. Pile ington, J. Bower, G. Elastic, Alexander Pollard-Urquhart, W Boyle, Hon. Colonel nestle, Archibald Ponsonby, Hon. A. • Brady, J. Ileadlam, Thomas E. Portman, Iln. W. Brand, H. Herbert, Sidney Ricardo, 0.. Bright, John llervey, Lord Alfred Rice, E. Broekiehurat, John Heywood, James Senders, George Brockman, E. D. Heyworth, Lawrence Sawl<C. B. G. Brotherton, Joseph Higgins, G. 0. 0. Scholefield, W. Bruce, Lord E. Hogg, Sir James W. Scobell, Captain Butler, Charles S. howard, Lord E. Seymour, Lord Cardwell, Edward Hutchins, E. Seymour, W. D. Challis,Ablermee Johnstone, Sir J. Shelburne, Earl Chambers, sa ontagu Kershaw, James Sheridan. R. B. Chaplin, W. J. King, P. J. Smith, John B. Clifford, Henry N. Kingscote, R. N. F. smith, R. V Cockburn, Sir A. Kinnaird, A. F. Smollett, Alexander Collin, W. Laing, Samuel Strutt, Edward Cowan, Charles Langston, Jas. Stuart, Lord Dudley Cowper, W. Langton, H. G. Tancred, H. W. Craufurd, E. Leo, W, Thompson, George Crossley, Frank Lemon, Sir C. Thornely,T. Davie, Sir H. Locke, J. Vllllers, lit. Ihr. C. Denison, E. Lockhart, A. E. Vivian, J. H. Denison, J. E. Loveden, I'. Vivian, H. 11. Dent, J. Lowe, It. walmsley. Sir J. Drumlanrig, Viscount Mackie, John Walter, John Duke, Sir J. Mangles, R. D. Wells, W. Duncan, G. Marjoribanks, D. Whitbread, S. Dundas, F. Marshall, W. Wickham, Henry W. Dunlop, A. Martin, John Wilkinson, W. A. Ellice, Rt. Hon, E. Massey, W. N. Wilcox, B. Ellice, E. Matheson, Alex. Williams, W. Elliot, John Matheson, Sir J. Wilson, J. Ewart, William 31aule, Colonel Winnington, Sir T. Fergus, John lli fall, Edward Wise, A. Ferguson, Col. Mills, T. Wood, Sir C. Ferguson, Joseph Milner, w. Wyndham, William k itzwilliam, G. Molesworth, Sir W. Young, Sir John Forster, J. lionek, Lord Fox, R. M Morris, D. - Fox. W. J. Mostyn, E. N. Freestun, Colonel Mulgrave, Earl MINORITY —NOES, 139. Acland, Sir T. Du Pre, C. Napier, Joseph Annesley, Earl of Egerton, Edward Neeld, John Aspinail, J. Elmley, Viscount Neeld, Joseph Bailey, Sir J. Filmer, Sir Edmund Newark, Viscount Bailey, Crawshay Floyer, J. Newport, Lord Ball. Edward Fol ett, B. Spencer North, Colonel Baldcock, E. H. Forester, Colonel Oakes, J. H. Baring, T. Frewen, C. H. Ossulston, Lord Barrington,Viseount Galway, Viscount Pakington, Sir John Barrow, William H. Graham, Lord M.W. Palmer, R. Beeson, Thomas °reeves, Ede and Parker, R. Townley Bennet, Philip Grogan, Edward Percy, J. Bentinck, Lord H. Raiford, Sir H. Phillips, John Henry Bentinek,Geo. P. Halsey, Thomas P. Portal, M. Beresford, William Hamilton, George A. Itepton, G. Blair, Colonel nanbury, Hon. C. Robertson, P. F. Bolder°, Col. Hawkins, IV. W. Scott, F. Booker, Thos. Win , Henley, Joseph W. Keabam, Lord. Bramaton, T. W. Hill, Lord A. E. Sibthorp, Colonel Brooke, Sir A. Hudson, George Smith, W. Id Bruce, Cumming Irton, Samuel Smyth, R. J. Buller, Sir J. Jocelyn, Viscount Smith, John G. Burrell, Sir C. M. Jolllffe, Sir 'W. 0.11. Somerset, Captain Burroughes, Henry N. Jones, Captain Spooner, Richard Butt, G.ll. Kelly, Sir F. Stafford, A. Butt, Isaac Kendall, Nicholas Stanhope, J. B. Cairni,H. MlCAmont Kennedy, Tristram Stanley, Lord Campbell, King, J. E. Stunt, H. G. Knatchbun, Win. F. Swift , B Carlin, Sir J. Rivett Cayley, E. S. Knight, F. W. Talbot, C. R. M. Christopher, R. Adam Knightley, R. Tollemache, John Christy, S. Lennox, Lord H. G. Tomline, G. Clive, R. H. Liddell, H. G. Trollope, Sir J. Cobbold, J. C. Lockhart, W. Tyler, Sir George Cocks, Thomas S. Lovalne, Lord Vance, J. Codrington, Sir WM. Lowther, Colonel Vivian, J. E. Compton, henry Macgregor, James Walcot, Adm. Dashwood, Sir 0. Maguire, J. Walsh, Sir John B. Davies, D. Malins, Richard Welby, Sir G. Davison, R. Mandeville, Viscount Whitmore, H. Dering, S Manners, Lord J, Wodehouse, E. Disraeli, Benjamin March, Earl of 'Wyndham, General Duckworth, SirJ. Miles, W. II) , nue, Win. W. E. Duffy, C. G. Michell, W. buncombe, Hn. A. Moody, C. Duncombe, W. E. Mowbray, J. Dundee., G. Mundy William Vansittart, George H Dunne, Col. Baas, Lord Mailings J. Randolph TILLXPII. Hayter, lion. W. Berkeley, Grenville. TELLERS ELECTION OF ALDERMAN FOR THE WARD OP CASTLE BAYNARD. Mr. Henry Muggeridge was yesterday elected, without opposition, as alderman for the ward of Castle Baynard, in the room of Mr. Samuel Wilson. The proposer of Mr. Muggeridge was Mr. Howell, and the nomination was seconded by Mr. C. Odell. Mr. Muggeridge, in returning thanks, pledged himself to give to the ward any patronage attached to his position, and said he would make it his study to maintain the rights and privileges of his fellow-citizens. ROYAL INSTITIITION.—At the general monthly meet ing, held yesterday, Mr. W. Pole, F.R.S., treasurer, in the chair, Mr. Joseph Hayes and Rear-Admiral J. Roberts Gowan were elected members ; and Mr. John Tyndall, Ph. D., F.R.S., was unanimously elected pro fessor of Natural Philosophy in the Royal Institution. THE CHIEF COMMISSIONERSHIP OF THE INSOLVENT DEBTORS' COURT.—We have reason to believe that the announcement of the resignation by Mr. H. R. Reynolds of the presidency of the Insolvent Debtors' Court is at least premature. That such an event is in contemplation is quite true, and has long been expected by those whose avocations have led them to an attendance in Portugal street ; and from the advanced age of the Chief Commis. sioner (80 years), and consequent infirmity, there can be little doubt that a vacancy will speedily be created. Mr. Reynolds has filled his office since 1818, immediately after the court was constituted. The expected retire ment of that gentleman will create the second vacancy in the court, as that caused by the death of Mr. Com missioner Harris, some five years since, has never been filled up. MURDER AND SUICIDE.- An inquest was held yester day, at the St. Catherine's Wheel, Borough, before Mr. Carter, respecting the deaths of Jane Papson, aged 22, and her infant, aged two months. The bodies of the deceased were found in the Thames, near Southwark bridge, last Thursday. The evidence went to show that the deceased had been abandoned by the father .of the child, a man named Metcalfe, and that she had been in great distress. A letter was read from the deceased woman to Metcalfe, dated from Cloth-fair, Smithfield, in which she expressed her intention of committing sui cide, and said her blood would rest on his head. The jury gave a verdict to the effect that the child was mur dered by the mother, who at the same time committed suicide, to which she was driven by deprivaiion and poverty. IMPERIAL PARLIAM ENT. HOUSE OF LORDS--(YESTERDAY.) The LORD CHANCELLOR took his seat on the woolsack at five o'clock. CRIMINAL LAW IMPROVEMENT. Lord LYNDHURST asked the noble and learned lord on the woolsack when the committee on the bill for the improvement of the criminal law would meet again? The LORD CHANCELLOR said the committee stood over for the convenience of the Lord Chief Justice. Lord BROUGHAM hoped an early day woull be fixed, as it was of great importance that the committee should finish its labours as early as possible. The Earl of DERBY presented a petition from medi cal men of the town of Croydon, praying for legislation for the improvement of the medical profession, and from Staines praying for the abolition of the duty on the ex portation of British salt to India. THE SCOTCH BANKRUPT LAW. Lord BROUGHABI rose, according to notice, to pre sent a petition from merchants and traders of the city of London who were concerned in the trade with Scot land, on the subject of the Scotch bankrupt law. He should certainly feel much disappointed if their lordships did not favour him with their attention while he stated some matters respecting this petition, for it must be ad mitted that, generally speaking, though petitions were respectfully received by their lordships, there was a great indisposition to attend to anything respecting them un less they had to touch upon some personal or party mat ter, and then there was no lack of attention either to the petition or the motion made thereupon, or any mat ter mingled with it. He was sorry, however, to add that not only was this a petition, but it was a petition on a subject which was in itself not very likely to be a lively one. It was upon the subject of Scotch bank ruptcy. But he should first state to their lordships who the petitioners were, and what their interest was in the subject before he proceeded to give their statement of their grievance and their suggestions for the remedy of that grievance. The petitioners represented the first houses in the city of London in every respect, and the first houses concerned in the trade of Scotland. There were upwards of 200 of these firms, the partners in which had signed this petition, and when he looked at the names of these firms, many of them he recognised as well known to him as being among the first in the city of London, and others he knew as. holding that position by their description from persons intimately acquainted with them. To show their importance, it might suffice to state that five of the houses out of the 200 repre sented by the petition carried on business with Scotland to the amount of considerably upwards of 1.000,0001. sterling a year. He had a petition to the same effect, complaining of precisely the same grievance, from par ties not in London, but connected with and carrying on trade in Scotland. This was a petition from Sir James Campbell and other office-bearers in the Glasgow and West of Scotland Guardian Society for the Protection of Trade, and who, as such, were interested in the pro per administration of the estates of bankrupts and in solvents. Every one who was acquainted with Glasgow was acquainted with the house of Sir James Campbell and Company ; and this society was composed of mer cantile houses who were all the great traders in the city of Glasgow. He had also a petition from a cor porate body (the directors of the Chamber of Com merce and Manufacturers, established by royal charter in the city of Glasgow, under the seal of the corpora tion), and signed by the chairman and secretary. Another petition with which he was intrusted was from the Mer chants'-house of Glasgow, also a corporate body, signed by the Lord Dean of Guild, and sealed with the seal of the corporation. He had also two petitions, to nearly the same effect, from different parts of England ; one from Bradford, from the town-conncil ; and another from Carlisle, the merchants and manufacturers of which city, from their proximity to Scotland, were deeply in terested in this matter, arising out of the constant com mercial intercourse between them and the northern parts of the United Kingdom. From Huddersfield he had a petition, signed by 23 merchants and manufacturers, and from Cupar Fife a petition signed by seven procu rators practising before the Sheriff and Court there, who were parties interested in the proper administration of the estates of bankrupts and insolvents in Scotland, and in the assimilation of the bankruptcy and commer cial laws throughout the United Kingdom. He be lieved that a vast number of other petitions would very soon be presented to their lordships, all upon the same subject, all complaining of the present system, and all craving a speedy and effectual remedy. The case was shortly this—and he would solicit the attention of his noble and learned friends while he alluded to it, for it must be admitted that though they were not bound to listen to all the suggestions which mercantile men might give for the reform of the law relating to bankruptcy, and though their lordships were bound to exercise their own discretion according to the best lights they could obtain, yet when the question was as to the sufferings which were experienced under the present state of the law, they were bound to listen to those who were the sufferers, and who addressed their lordships f or th e pur pose of detailing their grievances, because it was the most important fact in the case that such grievances existed, and that such sufferings were by the petitioners endured. Now, the petitioners set forth the manner in which the law affected them, and he should endeavour, as distinctly as he could, to explain the state of the law. In 1831 a great change took place in England on the subject of the bankrupt law, as was well known to his noble and learned friends, and that change was deemed to be necessary by the evils of the previously existing system. Now, suppose that instead of the evils now complained of, and which led Parliament to reform the law—suppose it had been the case in England that the assignees of a bankrupt not only were apt to forget their duty, to go to sleep over their duty, and not only to gather in and re alise the bankrupt's estate, but that they had an indirect interest in not doing their duty. In one instance, he re membered, it had been found—and this was one great ground of the change made in England in 1831—that there was occasionally an indirect interest on the part of the assignees inconsistent with their duty; and where a bankrupt had funds it was found that there was a tendency to allow the proceedings to linger on the part of the persons intrusted with these funds. In Scotland, how ever, the matter was a great deal werse. There was not only the same chance of neglect, and the same tendency on the part of these persons to slumber over their duties, but the trustee was there a paid officer, which the En glish assignee never was, and he was interested directly in delay by receiving payment. The trustee received a commission, which commission was awarded to him in the manner he would presently describe, and the conse quence of his being a paid offi cer th e i r lordships would soon perceive. Suppose another differenee had existed between the English bankrupt law in 1831 and the law as it at present stood in Scotland. Suppose the assignee had not only been the administrator of the funds arising out of the estate, but had been also vested w ith j u di c i a l functions ; and had had to adjudicate upon the claims of creditors as well. Yet that was the case in Scotland at this instant. He did not believe a system could have been more cunningly devised to frustrate the great object and views of the equal distribution of the bankrupts' estate and the prevention of fraud and of delay—ho did not think anything more cunningly devised to accom plish these two ends could have been conceived than the system which had long prevailed, and which still, he was sorry to say, almost in the full force of its abuses, continued to prevail in the bankrupt law of Scotland. First, there was the choice of the trustee. For this officer no qualification was required. He ought to be both an accountant and a judge. Instead of this, how ever, he was required to possess no learning whatever — no qualification of any sort. But there was one re quirement—the trustee must have a majority of votes. Every kind of means, approaching even to corruption, were consequently used for the purpose of obtaining office, and after that, as in the case of an election for the other house of Parliament, the return of the trustee was capable of being set aside. As there was always a competition for the office—always what might be called a contested election—so there was, he would not say al ways, but very often, a petition, as it were, against the return of the trustee • and an application to the Court to set aside that return, led, as in the case of a Parliamentary petition, to "a scrutiny,"—namely, a scrutiny of the votes of the creditors by whom the trustee was elected. The case would, under such circumstances, be heard before the sheriff, who was the judge-ordinary of the district, from whom there was an appeal to the Court of Session, and from the Court of Session to this house. The trus tee had judicial functions. He had to decide upon the claims of creditors, but from his decision there was again an appeal to the sheriff, from him to the Court of Ses sion, and from the Court of Session to this house. The trustee was never a lawyer, but it happened gene rally that he was a trader, though he was sometimes not even that. He ought to be both a lawyer and an accountant, while it often happened that he was neither one nor the other. As the office of trustee was a paid one, there were many who devoted themselves to the post for the emoluments to be derived from it, and thus was created a class of accountants such as existed a few years ago at Guildhall, and whom his noble and learned friend the Lord Chief Justice would, if he were pre sent, recognize under the description of accountants who when d could give no account. In his judicial capacity , sitting to decide upon the claims of creditors submitted to him, questions of the greatest difficulty were brought before him—sometimes questions of law, sometimes questions of equity, and constantly questions of fact— in all which the trustee acted both as judge and jury. Those who were acquainted with the state of the Scotch law would know that the practice in the courts there was unhappily different from our own—that the principle of fusion had been adopted there, and that there was no difference between the court of law and of equity. Thi s trustee, however, was in all cases ignorant of the law, so that when a very important bankruptcy occurred he was sided by an assesor, who was a lawyer. This was of course all at the expense of the bankrupt's estate, and therefore at the cost of the creditors, and he him self had known an instance not long ago —not more than 20 or 25 years since—of a very important bankruptcy in which the trustee was aided by a learned person who was afterwards a judge in the Court of Session—Lord Cunningham—and they sat for many days, and he might say weeks, in unravelling the circumstances con nected with this bankruptcy, eminent counsel being engaged, with appeals possible at every stage and at every decision given by the trustee, and with one ap peal of which he had reason to know something, for it did not stop with the sheriff, but went next to the Court of Session, and afterwards to their lordships' house ; he referred to the remarkable case of " Grant and Baillie," the only instance he remembered in which the judges of England were called in to de cide a Scotch case. By the bill which he (Lord Brougham) had introduced power of appeal was only given to the Court of Session, for he looked upon the I appeal from the trustee to the sheriff as entirely useless. Under the present system three of the creditors,or agents ' of the creditors, were chosen as commissioners. These commissioners had no qualification, and weresupposed to be a coun c il, b y w h ose a d v i ce and opinion the trustee might if he thought fit, be ruled, though he was not ' bound to be so. The natural consequence was, that when the trustee considered there was a responsibility involved in the case he would call in the council, but when he thought he could do without them he would not call them in. One function of great importance was performed by these commissioners—they audited the accounts of the trustee and awarded his commission, so that his salary was so far in their hands. Now, the trustee was frequently enabled to exercise a great voice in the choice of the commissioners ; the kind of votes by which they were elected very much depended upon him ; and the consequence was, that in many cases it was found that the commissioners, owing their election to the trustee, were disposed to favour him in auditing his accounts and in fixing his payment. There was one part of the existing law which very much facilitated any improper proceedings on the part of the bankrupt and trustees. Not less than eight, though not more than 14 days from the period of sequestration, as the bank ruptcy was called, were allowed the bankrupt for all these contrivances, and for fraudulent purposes, if be was inclined to devote it in that way. There was no power of taking possession of the bankrupt's property until eight days, and it might be 14 days, after the bankruptcy. In the meantime the bankrupt could make away with his property, and, if a dishonest man, he might occupy that time in creating votes on fraudu lent or fictitious claims so as to elect a trustee of his own nomination, in giving illegal preferences, and in making away with and concealing his property. Now, it was quite bad enough that there should be an elec tive court of justice at all, but it was monstrous that there should be a court of justice appointed by election in each particular case—and that, be it remembered, not a court of arbitration appointed by the choice of the two parties, but by a number of creditors, with all the evils incident to such a system. By that body, and in that way, was the court in each instance constituted. He had referred to the possibility of appeal. The ap peal might take place in the case of the choice of the assignee, or trustee as he was called in Scotland, and perhaps two or three years, as had been known to be the case, elapsed before the choice was confirmed. All this while the unhappy creditors, who had or ought to have no interest whatever in the matter, were kept out of their rightful claims. They did not care one rush which of the two rival candidates to the office was sue cessful ; all they wished was to have the business done. The petitioners stated how much they suffered under this system. " The season," they said, " for which the bankrupt's goods were manufactured passes away, the articles get out of fashion, and a fall in the market often takes place which greatly diminishes the value of the bankrupt's property." Another evil was, that the bankrupt was often disposed to offer a composition with which the creditors would be satisfied, but, until the choice of the trustee was finally confirmed, that composi tion could not be accepted, andin the meantime the bank rupt otherwise disposed of money with which he had intended to satisfy the claims against him, and the cre ditors were often entirely frustrated in their endeavours. With regard to the system of class certificates which now prevailed in this country, instead of adopting the English change in the law in this respect, and taking from the creditors the whole of the power of granting certificates, this power remained throughout Scotland in the hands of the creditors, subject to all the evils pointed out by the commission of 1839 and 1840. By dint of canvassing, by private interest, and not unfrequently by direct bribery, the bankrupt now gave certain powers to certain creditors for the express purpose of obtaining their vote. Again, no provision was made for the public examination of the bankrupt. The old act said he should be examined publicly, but, practically, the bankrupt was never examined in public, but always privately. There was also no examination—at least no effectual ex amination of the creditors themselves. He would fain hope that the petitioners were mistaken in the state ment that, under the present system, there was no pro vision for the examination either of the bankrupt or of the creditors. He thought that must be a mistake, because under the act of 1851 he believed provision was made to enable the court to examine the bankrupt, and, in fact, to compel his examination. Upon all these grounds the petitioners prayed their lordships to adopt the bill which now lay before them awaiting a second reading—a bill which he had the honour of introducing ; and they added, also, that the course which that bill took relating to arrangements in cases of insolvency was advisable and ought to be adopted. The Faculty of Advocates having bad under their consideration the Lord-Advocate's bill on the subject, disapproved a good part of the bill, expressed no opinion as to whether it went far enough or not, but added that they did approve one portion of the bill, which, in his opinion, was the only step of any importance in the measure—namely, that of giving immediate possession of the bankrupt's papers and books. He was bound to say that the mea sure which he brought before their lordships, and in be half of which these petitioners addressed the house, the other petitioners joining in that prayer, had been most carefully prepared by persons well versed in the Scotch bankruptcy law— by practitioners both at the Scotch and English bars ; and the measure had been by them prepared with the greatest possible knowledge of all the details. He had only to mention the name of Mr. John Gilmour to prove that the bill had received atten tion from one possessing a perfect knowledge of the law on the subject, and a complete acquaintance with the practical working of the present system. It was said that the change which had taken place in the English law, and to which he had alluded, was less applicable to Scotland than England. There might be other parts of the law than those he had mentioned in which the Scotch was more to be approved than the English law. What was the moral of this ? It was, that the whole matter should be carefully considered by those commissioners who had been re cently appointed to take into consideratio n th e assimila- tion Of the mercantile law in different parts of the United Kingdom. That commission proceeded from the Go vernment, as their lordships were aware, in consequence of a great conference held last year, at which, in the first place, the noble lord on the cross bench (the Earl of Harrowby) presided, and over which, secondly, he (Lord Brougham) had presided, composed of represen tatives from all the great trading towns in England, Scotland, and Ireland. The idea of that conference had, he believed, arisen from the formation of different societies for the amendment of the mercantile law, particularly in some parts of Scotland. A very learned person, Mr. J. Stewart, having been in Scot land, had had communications with those parties, and he rather believed it was in consequence of the com munications between him and some of those bodies in the west of Scotland that the conference was appointed. It had given him (Lord Brougham), he must say, great satisfaction to preside over the conference in question, because a more moderate and more rational assembly of persons could hardly be conceived upon any matter so interesting to the feelings of the indi viduals themselves. They were all interested in the trade, commerce, and manufactures of the different towns from which they came, but there was no tone of violence, no headlong steps taken towards a change no desire of change from the mere love of change, but, on the contrary, what was done was done in the most rational and temperate manner he had ever heard. Another gentleman, Mr. Leone Levi, who had devoted a large degree of attention to the subject of the continental mercantile law, had promulgated the idea of an international commercial code, and a noble duke and his Royal Highness Prince Albert were understood to support the opinion he expressed, that the state of the world was ripe for the formation of a general interna tional commercial code. Others, however, had had some doubts about this, and had thought that, at all events, we should begin more humbly, by considering whether or not a commercial code could be established for the United Kingdom, leaving other countries out of the question,—at least for the present. The conference had bound itself to that opinion, but without giving up the hope that they might live to see a more general union among the different nations of Europe on this subject, and the formation of one general international commer cial law among all civilised nations. The differences at present existing between the various codes were not very great, but where those differences existed they were very embarrassing. He ought to apologise for having so long detained their lordships, but he had deemed it his duty to the petitioners who had intrusted to him the presen tation of the petition to state the facts which he had laid before the house. He did not intend to press for ward this session the bill to which ho had alluded, but he considered it would be in its proper place if referred to the Assimilation Commissioners. (Hear, hear.) CHURCH BUILDING ACTS AMENDMENT BILL. On the motion that their lo r d s hi ps d o go into com mittee upon this bill, The Earl of HARROWBY said that as the second reading had passed without observation, he wished to state briefly the objects of the bill. These were two in number ; the first being to give facilities for the aggre gation of small livings in populous cities and towns. In the city of London, for example, there was an immense accumulation of churches, forming no doubt a great ar chitectural attraction to the metropolis, but doing little for its spiritual welfare. Even at the time of the great fire, there were far more churches than were necessary for the wants of the inhabitants. The first act which passed for rebuilding the city restricted the number of new churches to 37 ; but three years afterwards, the number was extended to 51 ; but no fewer than 48 of the old ones were suppressed, such parishes and endow ments being united to others in their neighbourhood. The number of churches, however, was still very con siderable. In one instance there were no fewer than five churches to serve an area and population not larger than that of Grosvenor-square, and several other simiiar cases might be named. Now the population of the City had not only diminished, but the number of those who remained within its precincts on Sunday had decreased to an even larger extent, insomuch that there were now many churches in a position similar to that in Ireland, where Dean Swift used to commence the service with " Dearly beloved Roger," there not being a congrega tion large enough to justify his use of the plural word "brethren." (A laugh.) This did not arise from any bad feeling towards the church, or from any indisposi tion on the part of the clergy to do their duty, for the same thing had happened to dissenting meeting-houses, eight or ten of which had lately been abandoned, and pulled down, or converted to other purposes. The truth was that the causes which had in ancient times caused vast populations to be pent within walls, b ad long since ceased, and London was now fast becoming a city of shops and warehouses. (Hear, hear.) The question then, was, whether it was not better that the churches and endowments should follow the people ? bishop (Hear, hear.) The present law gave the the power to order by a faculty, a church to be pulled down, and also to unite contiguous benefices; but in the former case the process was inconvenient, and in the latter the ne- cessity for the benefices to be contiguous, would interfere with the end in view. The first eight clauses then proposed to deal with this part of the subject. The rest of the bill 1 4 treated of patronage. The noble a n d l earne d l or d on , the woolsack was greatly concerned in this mattisr, he held the patronage of no fewer than 754 benefices total annual value of which was 190,0001., bes' eietr&k, -'•' alternate presentation of 23 benefices, th e tot a l ; 0 which was 7,8771. A vast number of them, InctiVeiveii7,.'', •-•- were of an insignificant and wholly insufficient and the bill would, therefore, enable the noble , .orcl. part with a portion of his patronage, with a parishes being consolidated with other. Powers Wo4l. also be given to various companies to part with theirAko' patronage, not for any pecuniary advantage, but for the purpose of improvits , other livings, and so cre a ti ng new parishes with efficient means for the cure of souls. He was aware that some persons thought it was improper that a layman should interfere with church matters at all but such would not be the opinion of their lordships ; for the laity were as much a portion of the church as the clergy. In the present case lie had been a member of a commission recently appointed to consider this question, and the bill bad met with the unanimous sanction of the commissioners, including the Archbishop of York, the Bishop of London, and another right rev. prelate. The Earl of POWIS said it was bard to criticise any measure relating to the church that emanated from a noble lord so well known for his judgment and zeal in such matters as the noble earl ; but still he thought the measure was open to grave objections. If this bill passed in its present shape they might destroy an old church, and convert it to secular purposes, and a bishop might be scoffed at for one day consecrating a church for re ligious purposes fur ever, and the next day signing a NN arrant for the destruction of a church and applying the site to secular purposes. The Bishop of LONDON said the bill was the result of a commission issued by her Majesty to inquire into the best means of subverting large parishes, and of making more effectual provision f or poorer benefices. The noble earl needed no vindication for bringing in the bill, but, if one were needed, it would be found in the fact that he brought in the bill, not on his own respon sibility, but on the responsibility of the commission to which lie had referred, It was a matter of notoriety that the churches in the city of London were far more numerous than the wants of the community required. That had been a matter of remark as long as he could remember. He thought therefore they were abundantly justified in bringing in this bill. He hoped their lord ships would allow the bill to go into committee. After a few words from the Marquis of BATH and the Earl of MieemEseurtv, their lordships went into commit. tee on the bill, and the first five clauses were agreed to. On clause 6, The Earl of POWIS moved the omission of the clause. The clause gave power to sell the site and the burial-ground attached to a church. He thought such a power ought not to be given. The Bishop of LONDON supported the clause. The Bishop of SALISBURY agreed with the noble earl (Malniesbury) in many of his observations ; but he thought he was pushing his feelings to a degree that was opposed to the public interest. It was not possible, in a metropolis like this, that a church should remain as a ruin, and a burial-ground as an unoccupied site. He hoped the noble earl would not continue his opposition. The Earl of DERBY said he did not think the analogy which the right rev. prelate had drawn was cor rect with regard to the power given under the Sewers' Act, In that case the bishop was only empowered to consent to what the Commissioners of Sewers thought desirable, He entirely sympathised with the views of the noble lord behind him as to the opinion of the public with regard to the pulling down churches and the re moval of burying-grounds. The case presented by the right rev. prelate with respect to the City of London specially was peculiar ; but the bill was not framed to meet the exigencies of the City only, and such consider ations must give way, and the minor evil must be en dured, when the object was to confer a gain on the public generally. He suggested to the noble lord that, omitting the metropolis, in all other towns the consent of the municipal corporations should be obtained before the church was pulled down or the burial-ground abolished. The right rev. prelate could have no wish to exercise an inviduous power, and it was clear that his object was to be effected in a legitimate way. Some conversation took place on this suggestion, and it was understood that the Bishop of London expressed his readiness to adopt it, but the Earl of Harrowby objected to accept an alteration which would alter the principle of the bill. The amendment was rejected without a division, and the clause was agreed to. The remaining clauses were agreed to, and the house resumed. EXCISE DUTIES ON SPIRITS BILL. Earl GRANVILLE moved the third reading of this bill, and stated its general principles. Lord MONTEAGLE took the opportunity of stating that he viewed this bill, in its principle and application, with great alarm, He approved of this effort at equal ising the duties on spirits in the three countries, but he feared they were playing tricks with the revenue, and lie doubted the wisdom of reductions in England in order to benefit Ireland and Scotland. As it stood, it was a bill to lose and not to gain revenue. The spirit duties of Ireland was one-fourth of the revenue of that country • and there ought to be no risk of such a sum. He would now proceed to call their lordships' attention to the authorities upon which he based his opposition to the bill. In 1822, the duty upon Irish spirits was 2s. 6d. a gallon, but in that year the Government of Lord Liver pool appointed a commission to consider the whole sub ject, and in 1823 that commission reported that experi- - ence in the remote parts of Scotland and Ireland proved that it was impolitic to impose a high rate of duty upon spirits. The duty was accordingly reduced, and the effect of that reduction he would show in a very few words. In 1823, when the high duty was in force, it was paid upon 3,300,000 gallons of sprits ; but in the year following the reduction, the duty was paid upon 6,690,000 gallons. In the year 1830, Mr. Goulburn re pealed the window duty in Ireland, but added ls. to the spirit duties, and the effect of that measure was to in crease the amount of duty paid, and this circumstance induced Lord Grey to appoint a second commission to inquire into the subject, who reported their concurrence in the opinion that illicit distillation uniformly kept pace with the advance of duty. The duty was accordingly reduced a second time, upon the recommendation of Lord Althorp—no mean authority—and the result of that alteration was a rise in the revenue, not to 10,000,000 of gallons, which the Government anticipated, but to 12,000,000 gallons. From that period the duty went on increasing up to 1840, when his right hon. friend, Sir F. Baring, felt it to be necessary to add 4d. to the duty, and Mr. Goulbure, who had the experience of 1830 be fore his eyes, earned Sir F. Baring of what would be allowed ow ß e . d p t e o e pa l, ss,and so undismayedby the consequence of making this addition to the duty. Nevertheless, the 4d.wyegn mat ters stood until 1842, when the previous evidence, put a i ft :lrther duty of ls. on, but the result of this experiment Wh,g so disastrous, that in 1843 Mr. Goulburn in the one hoeise and the Duke of Wellington in the other, came down with a proposal for the repeal of the additional duty. So much then for his authorities so far as the revenue was coneerned ; and now he would endeavour to point out in eve° or three words the effect which an increase in the duty invari ably had upon crime. In 1834, when the high duty was in operation, the number of criminals in all the prisons in Ireland, charged with offences against the excise laws, was between 400 and 500, but in 1842, when the duty was low, the number was only 268. The noble lord having gone into other figures to show that the tendency of increasing the duty was to add to crime, went on to remark that the excuse in the first instance, to which he had referred, for augmenting the duty, was the repeal of the window duty, while in 1842 Sir Robert Peel imposed the increased duty as a justifi cation for not extending the property tax to Ireland ; but on the present occasion it was just the reverse. Here the Government did not propose to commute one tax for another, but in addition to increasing the duty on spirits they proposed to extend the income tax to Ireland as well. Nor was that all, for it seemed they were to have a succession tax too, and on the whole he must say that, however beneficial the budget might be to England, it certainly would press most unjustly upon Ireland. Relatively the figures stand thus—the soap and assessed taxes remitted in favour of England amounted to 1,443,000/. • while the new taxes imposed upon G rea t B r i ta i n, which would consist of an increase in the Scotch spirit duties and the income tax, would amount to 403,0001.—and, therefore, so far as Ireland was concerned, the positive relief would be 1,040,0001. Now compare this with the state of the account so far as it related to Ireland. The only remission in favour of Ireland was 245,0001. of Consolidated Annuities ; while, on the other hand, it was proposed to extend the property tax to Ireland and increase the spirit duties, making in all 658,0001., so that while they repealed taxes in favour of Great Britain amounting to 1,040,0001. they proposed to impose new taxes upon Ireland amount ing to no less than 433,0001., which was a manifest in justice. However, he would not detain their lordships longer upon this subject, but apologising for having trespassed so long upon their patience, he would simply content himself with again protesting against the passing of this bill. The Earl of DERBY could not agree with his noble friend in thinking that his observations were out of place even at that hour of the evening, or in the then thin state of the house, for excepting, perhaps, the latter portion of his noble riend's speech, which referred to the relative amount of taxation to be unposed upon England and Ireland by the budget, and which he thought was not necessary at this time, he was bound to say the remarks of his noble friend were justifiable. These remarks went to show most clearly that the peee. tical effect of an increase in the duty was a correspond. ing diminution in the revenue, and he entirely concurred with his noble friend that this impolitic addition to the duty would not increase the revenue ; but in the present state of the house, and considering that this bill was one to which the Government attached considerable importance, believing, indeed, that it would increase the revenue by 400,0001., he was un willing to do more in oppposition to the measure than ex press his entire concurrence in the views and opinions of his noble friend. (Hear, hear.) He should be sorry to se e a bill which had passed the House of Commons, and to which the Government attached considerable import ance, rejected by so small a number of their lordships ; but he must at the slime time be permitted to say that it was that consideration alone—for he thought the measure a most mischievous one— which prevented him, while it no doubt precluded his noble friend from taking the sense of the house with regard to the passing of this bill. He was, however, for the reasons he had stated, disposed to leave the matter in the hands of the Govern ment, believing that like former governments they would eventually find it necessary to retrace their steps when they found, as they certainly would do, the same evil consequences flowing from their measure as had in variably attended all similar experiments in this direr, also pr©- th ia er DWI 100 6 100 100 all all 8 100 100 10 all 14 all all all 10 all 34i 1 25i i 1081