The Sun.
London, England, 1852-06-11 00:00:00

OCT,
Cnrragh l2
Down Royal Corp 2O

'OBER.
Carlow

COASTERS AND COLLIERS.—It appears, from a re.,
turn to Parliament just issued, that last year there were
19,748 sailing-vessels, of 2,778,525 tons, and 662 steamers,
of 206,666 tons, that entered the port of London as coasters
and colliers.

A PARAGRAPH ONLY TO BE READ BY THE LA-
InEs.—Every man has his price, so said Walpole; but he
never said as much of woman. The fact is, Walpole
Judged the ladies only too correctly, for he knew as well as
we do that many of those dear create are beyond all price.
--2 Notch.

desicnritpotuiocnhng
,iit is essential Aentiamletroicaadnda Railroadgeneral Bonds of
caution.
Likeany
those now referred to, there are many descriptions which
are perfectly legitimate objects of investment, the extent
of any speculation that may be involved in them being
fairly stated at the outset. At the same time it is unques-
tionable that active attempts have been carried on for
i months tointroduce upon the London and provincial mar-
kets a
a large Mass of these securities, which are likely to
prove
in great degree worthless, and which would find
no
countenance in New York, except among the most
notorious speculators. By these parties they are taken
at rates of discount which show that, like doubtful bills,
they are calculated at an average—some may be paid
and some dishonoured, some may be got rid of in
England, some may ba sold at home daring a tem-
promised in the ultimate litigation that
awaits them.
i
d others may be advantageously coin-
gamblers that abound in every commercial city they
have powerful attractions. That they should find pur-
chasers, however, among foreigners seeking a quiet in-
vestment is almost incredible. The only explanation
lies in the influences that are employed to effect the
object. Ironnmstere, for instance, are tempted to
receive them in payment for orders, on which they
realize enormous profits, and once introdused, it follows
that every plan
is put in motion, by means of large per-
centages to brokers and others, to insure their diffusion
amongst the public, who at last, by the force of recoM•
mendations, which increase in confidence in proportion
as the nature of the original negotiation is lost sight of,
become the purchasers at par of things which probably
fetched at starting no more than 50 or 60 per cent. of
the amount they purport to represent. The system of
towns and counties pledging their credit for the payment
of these bonds is merely a revival of the method which
in 1837 was pursued by the various States, and it will in-
evitably have a similar termination. Those who may
suffer, however, must blame themselves alone. If they
would consult any leading American houses, they would
hear the opinion entertained of these documents among
the respectable portion of the commercial community in
the United States, and if they have neither opportunity
nor inclination to make such inquiry, they are not to
charge the result upon the merchants of that country, any
more than the people of New York could reproach us if
they were to accept consignments of gold mining shares in
payment for cotton from the least reputable of our London
adventurers, If capitalists wish to participate in Ame-
rican enterprise, the only
i rational method is to be-
come joint shareholders ▪ n undertakings that have
is definite value in the American markets. If any loss
arise, they can then at all events feel satisfied that it has
not ben all on one side. But to take bonds of which
they practically know nothi▪
ng from companies of which
the shareholders, instead of being in the same boat,
may deem it profitable t a„„
~ a- --, time to treat them as ad-
versaries, is a proceouing so Calculated to invite disaster,
and to injure instead of promoting a healthy co-opera-
tion between the two nations, that it will be impossible
when the time shall arrive to feel regret in witnessing its
penalty.— Times.

RAILWAY SHARE MARKETS.
LIVERwPOOL, JUNE 10.
6a7 stern
sTocx ETCHANOE. - 6 have no improvement to notice
to-day. The transactions have been very limited, and prices
varied little from those which have been quoted for the last
few days. The transactions reported were—Birkenhead,
EaanstderYoCrkosuhuirte,ies,
7211
Ditto,9-34a; North-Western, 1221A—
North Midland, 23%,
11Elasidtland, and Dover, 205/B—York and
L
MANCHESTER, JUNE 10.
Lancashire,
Lancashire,7
iAa
_6d sdsu.t—Sou
Cheshire,oa
sLn a
ndt
eolren4oashire
Fifths,
STOCK EXCHANGE.--The share market opened better this
morning, but afterwards declined, and closed heavily. The
only transactions reported were—Eastern Counties, 9 3-16
Lancashire and Yorkshire, 79,
- /2---London and North-Western,
Midland,
South-Ea Birmingham (C)Quarters,l 15-16 p.
and Dover, 20%,
81RM1N.,,(1,11A51, JUNE 10.
STOCX EXCHANGE.- .The share market has been flat
—Manchester and Bi
reportedLahny business doing. The only sales
3 udlrY aad Birmingham Si. 16s. 3d.—
Shropshire Union,
o - d a a
were tag
re le

, , .
E T
preen.. l:he
quotation of gold at Paris
Mint (according to the new tariff ), which,
price of 3/. 17s. lop. per ounce for
standard gold,. gives an cha_
13.0 i, it follows change of 25.29 i ; and the ex-
short being 25.42 i, it follows
ex-
that gold is about .51
- • Per cent. dearer in London than
in Paris. By advises ft,
ei a sht aboutaM n theg° e N
aE:tni3Y.pgellari Irsn liAhs iR:11:8 1
43
radon a t
---whini..,l,lamburgh the price of gold
100. per ounce for standard gold, gives an exchange
•of 13.74 ; and the each standard Which, at the English Mint price of
per mark,
6 at llamburgh on London at
is
oarbto ub
et
i4n3go k
.4aniburgh. The course of ex-
change at New York on I sight is
a th -.olldon for bills at 60 days'
rithat gold is about 0.80 per cent.
due
0a rie rp.
Amer
nr
cLeonnt d.
,o i
at
nt_h a.
ua e j
paa r
and America being 109 2n
- er ©t ,it follows that the
exchange is nominally 0.9,
.in 4 Pereent. in. favour of England.
Anti, after making -"clvance for charges of transport, the
present rate leaves a s mall 1 of exchange between England
A COLLIER BRIG DESTROYED BY FlFE•—°°
Monday night, at eleven o'clock. information was received
profit on the importation of gold
afrtomthteheitilivneittepdoShtca:72ol3,
was in flames at Jarrow, about two miles up the Tyne.
The police immediately tinmoored the, river engine, and had
it towed up to the seen.,
of d' The vessel was lying
off the Patent Slip, and was iisaasteer.
sheet of flame. Shortly
North Shields, that a vessel
after the engine arrived the mastson fell by the vessel's side,
and, notwithstanding
-"el, it not until four o'clock in the
upon the burinee,
morning that the fi was • The vessel was a
r° Was extinguished.
total wreck. she wa..
the c
had originated in the of Durham, belonging to
Messrs. Storer, of 3 tedfor otune
Bedford -street, e ttessNorth Shields. The fire
an immense column of water was poured
cabin, it is ;Upposed by the carelessness
of the cabin boy.

THE FATAL
..
the inquest Was resumed before W. Brumer, Esq„ the city
coroner, at the
committee-room, Town-hall. Mr. William
pipe having been blown off,
Bull, a civil engineer and architect, who bad been employed
ACCIDENT AT OXFORD.—Yesterday
to superintend the erection of the baths and washhouses by
the committee f
°- the institution, of which the Vice-Chan-
cellar was chairman, Was examined for upwards of four hours.
The accident in his opinion was caused by the end of the
coil-
evaporation of steam into the hot water tank and caused it
to burst. He which admitted a sudden
Was quite satisfied that there must have been
a very great pressure at the time the accident happened, and
much higher than it had ever been tested at. The inquest
it
expect,ed, will last several days. At present two deaths
hai:e occurred from this accident, viz., John Wordsworth, the
engineer, a young man named Burchell, son of a re-
spec table tradesman of Oxford. The following have been
seriouslyinjured, and are now lying in the infirmary, where
they ar
the enge progressing favourably, viz , Sarah Wordsworth,
wife of ineer ; Ann Harwood and Catherine Faulk-
ner, two girls about ten years of age; and William Hosier,
compound fracture of the thigh.
DESTRUCTION
and eight chickens three weeks old, which, when ready for
the market, he intended to ~ell, and with the money to buy
ship-
pen, carefully fastening
a new jacket. While he went to fetch the cows from. the
field, Billy secured his hen and her young brood in the ship-
BY RATS _Billy Sutton bad, a hen,
the door after him. But
'Who can, of the poor boy's grief on his return.
to
fiatistraction
lien alone,
in. noisy, chicken alarm, at the cruel
chick being
Ara destruction of her whole brood, not a single
every one,
left to run by her side. The cruel rats had taken
are those
and that too in half an hour. Unwearied watchers__
wolves.
Norway rascals, and cruel and voracious as tigers
opportunity
or
portunit
They will kill and carry away their victims,
contain
i t Pno more.y
j(ileltre,eylde
serve, till their blood-stiined hole wii- in
Two rats, a few weeks • • d off.
3 since came ,in one night, seven
rabbits five weeks old. ahoy were dug out and killed the
y after.—Preston Chronicle. .

AMERICAN RAILROAD BONDS.
An amount equal to 1,000,0001. sterling of the bonds
cf an American, company, called the Illinois Central
Railroad, has just been introduced upon the Stock Ex-
change, and the greater part of it is understood to have
been already subscribed. The railway has been
commenced, and its length is to be seven hundred
miles, extending through the entire State of Illi-
nois, and connecting all the great branches of travel
from Canada to the Gulf of Mexico. Its coat
is estimated at 17,000,000 dollars, or about 4,500/. per
mile, and this is to be raised by an issue of Six per Cent.
Bonds, of which 12,000,000 dollars are to be taken
in the United States, and 5,000,000 dollars here, such
bonds being secured by the line itself, and by
granted by Congress to the
to the company. They are
par in 1875, but may be redeemed
at any earlier period at 20 per cent. premium. Con-
currently with the issue of the bonds a nominal share
capital also of 17,000,000 dollars will be created by the
company, and, as the promoters rely that before
1875 the sales of the lands and the profits of the line
them will have discharged the whole of the bonded debt,
the road would then become their property, without
anything. As an inducement,
of the bonds, the option is
however,its
to
given them of participating in this prospective re-
version. They may accordingly, if they choose, become
shareholders to the extent of one-half the amount of
their bonds, in which ease, supposing the outlay for the
line shculd not exceed the contemplated 17,000,000 dolls.,
cost
te
taekmers
every holder of a 1001. bond, after he has been paid off in
1875, will still possess 501. stock in Lbe line for which no
payment will ever have been required. Of course the
entire value of the scheme thus submitted must depend
upon the correctness of the estimates regarding the ulti-
mate value of the lands granted by Congress, the cost of
the road and its prospects of traffic, and, lastly, the con-
stitutional validity of the arrangements under which the
whole plan has been formed, and in which the Federal
Government, the State Government, and the company
have all been parties. 'With regard to the first two points,
enough jos known of the general results of similar works
to enable persons conversant with what has taken
place during
• the last fifteen years in America to arrive
at a distinct although not a positive opinion; but the
chief reliance mast still be placed upon the standing-of
those by whom the proposals are introduced. In
this respect, both as regards the directors in the
United States anti the trustees and agents in Eng-
land, there is enough in the commercial position of
the parties to excite full confidence that the undertaking
is believed to be intrinsically sound; as respects any
questions of constitutionality, it is to be mentioned that
the company is a New York one, and that, owing to its
lands having been granted by Congress, the tribunal to
whose jurisdiction it would be amenable is the Supreme
Court of the United States, and not the Legislative
Assembly of Illinois. If the reverse were the fact, it
would be necessary to protest against the intro-
duction of any of the securities of the company on this
side. Although Illinois has never repudiated her public
obligations, she is still a defaulter to a heavy extent,
and at one time she passed an arbitrary law imposing
confiscation in case her creditors should fail to register
their bonds within a certain defined period. Happily
since that date a different tone has been manifested, and
a full discharge of every liability is ultimately to be
looked, for; but although the construction of the present
railway, by the immense impulse it will give to the pros-
perity
of the State, will accelerate that conclusion, it
will take many years of punctuality to warrant, as far '
as her Government is concerned, any revival of former I
confidence. _