The Sun.
London, England, 1852-12-24 00:00:00

N. FRIDAY EVEN ING, DECEMBER 24, 1852.

LAMENT

iTIONEY AND COMMERCIAL NEW,

CITY, Two O'CLOCK.
The sales of cotton at Liverpool yesterday, were
estimated at 5,000 bales, of which 500 American
were taken on speculation. The market closed
steadily. The sales comprised 4,250 American,
350 Egyptian at 6/d. to lid., and 400 Surat at
30. to 44-d. per lb. Railway Shares were quiet.
, The influence of the proposed alteration in the
Tea duties upon the market, during the last t- wo or
three weeks is thus described by a h. aging
broker :
"The _market has experienced much excitement, oc-
casioned by the government proposition for a reduction
of the duty from the present rate of 2s. 2id. to ls. 10d.
immediately, and the further reduction to ls. in equal
instalments of 2d. annually for the five succeeding years
—the defeat of the Government on the House Tax,
and their consequent retirement, has interfered with
the immediate adoption of this measure ; but there
is little doubt, from the reception the proposal met with
on all sides, that whatever the composition of the new
Government, the same or a more liberal measure will
become law before many months have passed, and thus
a trade of the first importance will be no longer tram-
melled by a duty bearing so excessive a proportion to
the first cost of the article. The immediate result of
this measure on the market was a rise of ld. on the
common congou, and of lfd. to lid. on the better
classes up to ls. 3d., at which rates both speculators
and the trade effected a considerable business. The
temporary loss of the measure by the resignation of the
Ministry checked the progress of the market, but the
accounts at hand by the October mail, showing a de-
crease in shipments, and confirming the expectations of
a short supply have served to support the market, and
indications are not wanting that a further• and more
extensive demand is at hand for the good and fine de-
scriptions of congou, in which the deficient supply is
reported to be most apparent."
Accounts from Lisbon state that reforms in the
tariff were likely to be introduced before the meet-
ing of Congress.
The existing commercial arrangements between
the Zollverein and Belgium are to be continued
until Dec. 1855.
The justice of our caution to the public as to em-
barking in colonial undertakings brought out here
at a premium, and without adequate warranty of
their goodness, or the necessary control over the
management by a London Board, is strikingly ex-
emplified by the facts to which a correspondent has
called attention to-day in the Times. The Great
Nugget Vein Company, formed in Sydney, has,
through its London agents, directed one-third
of the Shares (21. paid) to be issued at
255. premium--a most cool proceeding, seeing that
the shares were publicly offered at par in Sydney,
and that the additional inducement to subscribe was, that parties, who took more than 10 shares
would be allowed to deposit only 10s. instead of 21.
per share. This notice is given in full ; and, 11,
making every possible allowance, there is a strong ;
exemplification of our view, that where property is
considered so very valuable as to be worth a pre-
mium local capitalists should be appealed to, and
would doubtless respond.
The Australian Agricultural Company are form- t
ing a new company, for the purpose of taking up E
the gold lands. Every existing share will entitle 1
the holder to 10 free shares, of 5/. each, in the new 1
or Peel River Company ; and for any further num-
ber beyond 10, the holder must pay U.—it being 2
intended to issue 20,000 such shares in order to
provide a working capital. 2,
There were exported from London, direct, during 1
S the week to last Thursday, 223,085 ounces of silver,
and 42,830 ounces of gold, nearly all to the Conti- : nent. The amount sent to India went by way of
Southampton.
During the fortnight to last evening, the Honour-
si
able East India Company drew bills on Bengal to 1-
the amount of 185,6561., on Madras for 11,5291., ‘,
and on Bombay for 3,5881.
13
The Committee of the Stock Exchange have a
20
resolution under consideration, to the effect that 20
every buyer of scrip shares must have them verified
by the Company which issues them, or sustain the
loss if they prove to be forgeries. 50
st
The shares in the Eastern Steam Navigation 50
Company, which the directors were authorised to 20
dispose of by a recent meeting of the proprietors, 20
were allotted yesterday.
The English funds have been improving, and the 25
new Ministerial arrangements seem to inspire con- 20
fidence. Consols have been 100 f to 101, and the 20
new 3 per Cents., 104-g ; Exchequer Bills of
.50
March are 665. to 695. ; and India Bonds, 82s. g
premium.
10
In the Foreign market prices are lower, generally, st.
but not much is doing. The Turkish Loan 25
is to 1 premium. Mexican have dropped to
25
24 and 23k. Baron Goldsmid, the chairman, "It_
of the Comnuttee of Bondholders has resigned, it
is said, on account of ill health, and Mr. James
Capel, the deputy-chairman, from pressure of busi- 6t;,
mess. Portuguese 4 per Cents, are 40 ft, and st.
Spanish 3 per Cents. 50k, being dull, although the quotations come better from Mach-id. Grenada 20
Deferred Stock is 12 to ft, Dutch 2i per Cents. have St.
been up to 68i- f, but are now 68i. 15
Railway shares were heavy again, but with few
sales making. 6;
Gold mines are rather firm. Australian Agri-
cultural fluctuate, South Australian Landare lower. a The banks are rather heavy.

BRITISH FUNDS THIS DAY.
(From the Official List.)

3 per Cent. Reduced 'Annuities.. Business cone.
101 i f if
3 per Cent. Consols Annuities
shut
New 34 per Cent. Annuities
India Bonds, £lOOO B2
Consols for Opening 18th January
Exchequer Bills 14d. March. June.
£lOOO..
68 9 6
£5OO
Small —

PRICE OF FOREIGN FUNDS THIS DAY.
Equador Bonds
5
Grenada Bonds, 1i per Cent 22
Ditto New Deferred, 3 per Cent l2i 12
Mexican 3 per Cent 24 3i 4
Portuguese 4 per Cert. —
Ditto for the Account 4oi S i
Russian Bonds, 5 per Cent.
Ditto, 4i per cent lo6} 7
Sardinian Bonds, 5 per Cent...........
Spanish Bonds 3 per •Cent soi
Turkish Loan, 6 per Cent., 1852
Dutch Exchange 2i per Cent 6Bl
Ditto 4 per Cent. Certificates.

Consols for Opening 18th January IC9 lex div.

SOUTH SHIELDS LIFE-BOATEL—The invaluable ser-
vices which these life-boats, with their gallant crews,
have rendered, during the late disastrous gales, to ship-
wrecked crews, have of late been frequently referred to,
and the following is a list of the ships crews they have
rescued from destruction between the 21st September and
the 20th December of the present year :—The Providence,
of Falmouth, 5 saved ; William Sally, 6 • Friends, of
Banff, 4 ; Abraham, of Yarmouth, 3 ; John' Wesley (the
tide being full, the crew landed on the rocks) ; Unity, of
Lynn, 6 ; La Petite Marie, from France, 6 • Union, of
Wisbeach, 6 men and 3 women-9; Marie Elizabeth, of
Norway, 7; Lively, of Clay, 5 ; Dorothy, of South Shields,
7 ; Elizabeth and Caroline, 8 ; Ninus, of Jersey, 6 ; Jane
and Elizabeth, of Shields (drove out with the fresh and
upset), 1 ; Penelope, of Teignmouth, 7 ; total saved, 80.
The new life-boats, on the design of Mr. Peake, assistant-
master-shipwright in her Majesty's Dockyard, Woolwich,
which are placed on various parts of the Northumberland
coast, are also very highly spoken of, and have, from re-
cent trials made with them, inspired the greatest confi-
dence in their crews, as a life-boat is almost useless with-
out she possesses the confidence of those who have to ma-
nage her. The necessity for good life-boats has been se-
verely felt during the last month, as upwards of 300 wrecks
have taken place during that period, involving, as usual
on the occasion of such disasters, a large sacrifice of human
life.

St
THE RETIRING LORD CHANCELLOR.—The importance 2C
of the following provision in the New Chancery Act (15 St
and 16 Vict. cap. 80) will be felt in the retirement of Lord
St. Leonards as Lord Chancellor. Section 60th : " Where- 15
as it has frequently happened that after cases have been. 8
fully heard by the Lord Chancellor in the Court of Chan-
cery, and are standing for judgment, the Lord Chancellor 10
has delivered up the great seal without being able, by
reason of other urgent public business, to deliver judgment 10
therein, and much inconvenience and expense to the parties 25
has been thereby occasioned. For remedy thereof, be it 10
enacted that in every case it shall be lawful for the person 1.0.1
who has delivered up the great seal, within six weeks after
he shall have so delivered up the same, to give to the St.
rpg,istrar of the said court a written judgment' therein, 20
signed by him • and a decree or order, as the case may 12?
require, shall be drawn up in pursuance of such judgment,
and every such judgment and every such decree or order 5
shall have the same force and effect as if the judgment in St.
pursuance whereof it is drawn up had been given in open
court the day before he shall have so delivered up the great 17
seal."
GALLANTRY REWARDED.—In consideration of the 25
brilliant and gallant conduct of No. 844, Seageant
Richard Perry, 24th Foot, in securing the colours of
the regiment at the battle of Chillanwallah, after both the officers who had carried them had been killed, and 40
nearly the whole of the two centre companies had been 100
swept down by grape-shot from the enemy's guns, his 100
Grace the Commander-in-Chief has been pleased to place 100
this brave non-commissioned officer's name on the list to
receive a medal " for meritorious conduct," with an an-
nuity, •••
so soon as a vacancy shall occur ; and the Right 2(
Hon. the Secretary-at-War, at the instance of the Lords
and others, Commissioners of Chelsea Hospital, has 5
transmitted a warrant under the royal sign manual, au- t
thmising the grant of a special pension of 2s. 6d. a-day I(
to Sergeant Perry, instead of the rate to which he was 11
entitled for service under the ordinary regulations, viz.,
is. 64d. per diem.—Bombay Telegraph and Courier.
THE STATUES OF LIFE.—In ancient times there stood
in the citadel of Athens three statues of Minerva. The
first was of olive wood, and, according to popular tradi-
tion, had fallen from heaven. The second was of bronze,
commemorating the victory of Marathon ; and a third,
of gold and ivory—a great miracle of art, in the age of
Pericles. And thus, in the citadel of Time, stands man
himself. In childhood, shaped of soft and delicate wood,
just fallen from heaven; in manhood, a statue of bronze,
commemorating struggle and victory ; and, lastly, in
the maturity of age, perfectly shaped in sold and ivQl7
—a miracle of art.