The Express.
London, England, 1847-11-05 00:00:00

v

Of commercial matters there is little is to he said, trade
here being affected by the state of affairs in England. The
respected Oporto firm of Cockburn+, Greig, and Co., whose
suspension of payment I had eceaaion to mention, have met
their creditors, who, w.th but two or three exoeptior.s, most
willingly acceded to the terms proposed by the partners-65
five per cent. to be paid in three yeors, by periodical in-
stalments of 10 per cent. ; the composition offered is eon.
sidered most liberal, and from the personal character of the
parties, little doubt is entertained of their making strenuous
efforts to pay eventually in full.
The firm of Joseph Van Zeller and Sons, of this city, have
also convened a meeting of their creditors for Saturday
next, the 30th instant. Until after the meeting, nothing
can be positively stated, but small hopes are entertained of
anything like a dividend in this ease. The failure, as I be-
fore advised you, is not of great amount.
On the Exchange there is but little doing. The quotations
for paper on London were, 30 days, 541 ; 90 days, 511 1.
' Distrust is very general, and more than one of
the minor houses are looked upon with suspicion. Sovereigns
I are at 4,500; dollars, Spanish, Brazilian, or Mexican, 930;
Lisbon Bank note of 4,800, at 1,870 discount.
Several of the Lisbon houses in the Manchester trade are
stated to be on the point of winding-up their affairs; retiring
from business is the term used:, but I believe, unfortunately
for the English manufacturer, it will be found in most cases,
when looked into, that the business had retired first.
..
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Oer. 30.—P.S. The mail from the south being a day behind,
I em enabled to add a hasty line. A sort of ministerial crisis
has been gone through. M. Rodrigo da Fonseca Maghalaes,
one of the recent elevations by her Majesty to the Chamber
of Peers, having been entrusted with the formation of
a new cabinet, but his efforts were without a chance
of success. A coalition was desired, but the Septembrist
party reject all kind of compromise with the Cabrals. ";The
bill, the whole bill, and nothing but tha bill," is their na-
tional cry—they will have nothing to do with the court
minions, the Cobra's. So the present ministers retain office
until the meeting of the Cortes. The obnoxious battalions are
' still kept on foot. The Queen and Prince, entirely in the
hands of the Cabral., will listen to no remonstrance on
this head; indeed, their disbandment would be fatal to
the court views upon the elections. With this wretched
horde at their disposal, they will make an attempt to carry
them, as they have carried the municipal ones, at any cost,
at all h •zards. A new plenipotentiary from Austria. in the
person of Count Esterhezy, has arrived. He had
audience on the 28th, and, although summonses were
isausd for attendance at the palace on that day of the
Marquis of Louie, Sade Bandeirs, Silva Sanches, and others
of the popular party, not one appeared. Yesterday being
Prince Ferdinand's birthday, a desperate attempt was made
to get up a something of an illumination last night.
It was a sad failure, with the exception of the various
berracks, and the public departments: • dozen pounds
of rusblialats, and a few pinta of oil, was the full extent
of the enthusiasm displayed in the three great and most pro-
minenti streets—Guld-street, Silver-street, and Cloth-street.
I did not s-e one single house or flat with lights, and in the
Rua il'Alecrirn, one single exhibition of loyalty only served
to exhibit the failure in more extreme colours.—M. de
Varrennes, the French Minister, has solicited his recal.