The Sun.
London, England, 1852-12-15 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 5,000 bales, of which 1,000 American
and 400 Egyptian were taken on speculation. The
market closed firmly, with but little alteration in
prices. The sales comprised 70 Pernam and
Maranhara at eid. to 6id., 110 Bahia at Gid. to
61., 500 Egyptian at 6d., 250 Surat at 3,R1. to
4€10., and the remainder American. Railwa
Shares were dull, at rather lower quotations. y
The advices from the Continent represent the
Money Markets generally as being very easy.
The Second Chamber in Holland has sanctioned
the project for a conversion, and gives power to
the Gcvernment to convert the present 4 per Cent.
debt into n per Cent. stock at 99 or into 3 at 97..
The Conversion of the 5 per Cent. Transferable.
Loan of the Honourable East India Company to the
amount of 3,500,0001., is to be into a 4 per Cent.
Stock, without any bonus, or the existing bonds
may be paid off 2s. Id. per Sicca rupee, or by bills
having one, two, or three years to run, with ih-
terest at 5 per cent.
Yesterday afternoon there was a decline in the
rates of exchange upon the principal continental
cities.
English Securities are heavy, and the doubts
about the passing of the financial scheme have
rather increased. It is not, perhaps, that the
scheme as a whole is approved, for it, would be
better liked in the City, if sensibly modified • but
a change of Ministry is not a contingency at' any
time in favour of public securities. Consols have
been 1001- to f for the opening. The New 3 per
Cents. have been 104 to 104. Bank Stock is
worth 223 to 223 g. Exchequer Bills of March are
worth (Us. to 625., and India Bonds 78s. premium.
Foreign Securities have been heavy generally.
premium ; and the Swedish
LThoanrkislt Scrip is
discount. Spanish New Deferred Bonds
have been 23i to Portuguese, Four per Cents.
40* to Mexican havebeen 21# to
Four per Cents, are at 99 toEquador
Daruet
worthe h
Stocki• Brazilian Old Bonds are 103±.
Railt at 5
aysare nearly all flat, and the settlement
of the account shows a decline in the principal lines
of about per cent. At the present moment, how-
ever, there is a rally in several of them, and it ap-
pears that they are rather scarce. This is most
conspicuous in Caledonian, the week's traffic being
1,7001. more than in the corresponding period of
1851; and North Western, South Western, Midland
and Northern Counties Union are better than they.
were Et the opening of the market this morn-
ing. The « Contangos " have been rather
heavy, arising from the extensive dealings.
French shares are flat, and rather lower, in some
instances by as much as 10s. per share. Upper
Indic keeps steady, the additional capital of
3,0(0,0001. being about to be raised, which will be
represented by 150,000 new shares, to be given in
the proportion of three new for every two of the
old shares, fifty thousand being reserved for India.
This is done to enable the company to tender for
the entire line from Allahabad to Delhi, and to
present the scheme in such a form for the decision
of the Hon. East India Company and of the
Board of Control as mast insure a favourable
result. The proprietary, already considered very
stinng, will be reinforced no doubt by influential
pa:iies connected with the East Indies ; and we
believe the resent arrangements are undertaken
at the suggestion of persons high in authority and
of great experience.
Gold mine shares are firm, and Agua Fria have
toached premium.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY,
(From the Official List.) _

Business done.
Bank Stock 223 i
3 per Cent. Reduced Annuities lOOl 1
3 per Cent. Consols Annuities
3 per Cent. Annuities, 1726
New 31 per Cent. Annuities lO3l 4
New s!per Cent. Annuities shut
• Long Annuities, Expire sth Jan., 1860 6 7-16
Ditto 30 Years, Expire sth Jan., 1860 shut
India Stock
India Bonds, £lOOO 7B
Consols for Opening 18th Jan lOOl i ex d
Exchequer Bills lid. March. June.
£lOOO 6l 2 62
£5OO — 62
Small 59 62 59 62
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent.
Danish 3 per Cent.
Equador Bonds sBGrenada Bonds, I}i per Cent —
Ditto New Deferred, 3 per Cent
22
12i. i
Mexican 3 per Cent
Portuguese 4 periCent. '
Russian Bonds, 5 per Cent.
Ditto, 4i per Cent.
Sardinian Bonds, 5 per Cent. 95 x d
Spanish Bonds, 3 per Cent 5O) 1
Ditto Deferred, 3 per Cent.
Ditto for the Account. 23 Swedish Loan'. li d 4/
Turkish Loan; 6 per Cent., 1852. l4 i p
Austrian Bonds 5 per Cent.......... • BO
Dutch Exchange 2h per Cent 67i
Ditto 4 per Cent. Certificates 99j 9 i
HALF-PAST TWO.
Consols for Opening 18th January ...... 1008 i ex div.

TENANTS' COMPENSATION (IRELAND) BILL.
On the order of the day being read for resuming the
debate on the second reading of this bill,
Mr. J. D. FITZGERALD said, though he dissented
from the principle introduced into the Tenants' Compen-
sation Bill, he would not oppose the second reading.
His chief object in rising was to call the attention of the
Attorney-General for Ireland to what had taken place in
the other House of Parliament, He was surprised to
find that the noble earl at the head of the Government
had stigmatised the bill brought forward by Mr. Ser-
geant Shee, as calculated to subvert the rights of pro-
perty, and as being a communistic measure, and
added that the second reading had not passed with
his sanction, and that he believed it would
never be agreed to by the house, even though
the committee to which it was referred might
report in its favour. This course he (Mr. Fitzgerald)
felt compelled to denounce as unprecedented, seeing that
the Home Secretary had supported the second reading,
with the view to its undergoing a fair investigation be-
fore the select committee, to whom the Government bills
on the subject were to be referred. Strange as was that
proceeding, it was followed by another still more singular
on the part of the Irish Attorney-General, who had
written a letter to the Dublin Evening Mail, in
which he said that the assumption that he had
assented to the second reading of Mr. Sergeant
Shee's bill, was utterly unfounded and untrue.
As to the bill of the Attorney-General, he (Mr. Fitz-
gerald),
as he had already intended, would not object to
the second reading, being of opinion that the preamble
was wide enough to enable the true principle to be de-
veloped. He thought that no measure would be satis-
factory unless it clearly asserted theprinciple of a tenant
having property in improvements. (Hear.) That was
plainly asserted in Mr. Sergeant Shee's bill, but he ad-
mitted that some of its details were open to objection.
He called on the house to pass an Imperial not an Irish
measure on this important subject--not commu-
nistic in principle, or calculated to subvert the
rights of property, but dealing justly with the
relations between landlord and tenant, which, in his
view, was of far greater consequence than the
principles of the budget which they had been discussing
for the last three nights. (Hear, hear.)
Mr. NAPIER declared that ever since 1848 he had
been labouring incessantly to complete an equitable ad-
justment of the relations between landlord and tenant in
Ireland, which he had always looked upon as a subject
of the deepest importance, but it unfortunately happened
that when that question was brought before the house
it invariably degenerated into personal abuse and recri-
mination. (Hear, hear.) The present discussion
had divided itself, as others generally did on most
subjects, into the real and the personal. (A laugh.)
In regard to the latter, his explanation was, that seeing by
accident in the newspapers a statement of his having
assented to the bill of Mr. Sergeant Shee, he wrote to
the journal in question denying its accuracy. When
the debate on that bill came on, he was then prepared
to state his objections to it in detail, but an adjournment
of the debate was moved for, and a division took place
on the question. It was then suggested by some hon.
member, that on the whole it would be better to let the
bill go before a select committee, along with the
Government measures, and that when the house was
in possession of the whole subject, the question might
be at once and for ever settled. (Hear, hear.)
Thereupon the Secretary of State for the Home Depart-
ment, who was a gentleman of the highest honour and
unimpeachable integrity, and for whom he had always
entertained the highest esteem, assented to the second
reading of the bill, with the view to its being sent to the
committee. He was, however, in doing so, actuated by
the best of motives, and honest and bona-fide anxiety to
facilitate the passing of an useful and perfect measure.
(Hear, hear.) Though he (Mr. Napier) would have
dissented from that course, he believed that his right
hon. friend had adOpted it in a spirit of conciliation.
As to himself, he had no feeling towards any particular
class or kindred, being only anxious to pass a good code
for Ireland. (Hear, hear.) And he appealed confidently
to the country whether the step he had taken was not
the best, under the circumstances, to obtain, as soon
as possible, a good code to settle finally all the regula-
tions between landlord and tenant in Ireland. (Hear.)
The bill of the right hon. and learned member for Kil-
kenny was precisely the same as that which was intro-
duced by Mr. Sharman Crawford, and which was rejected
last session by all sections of -the house. There was
hardly any necessity under these circumstances that he
was opposed to the principle and details of the hon. and
learned member's bill. So much then with regard to
the bill. All that he contended for in favour of his bill
was that it was less cumbersome in details, but since
they could arrive at a satisfactory conclusion if they took
the two bills into committee, he entreated the represen-
tatives of Ireland, for the sake of their country, to aban-
don personalities or recrimination, and endeavour to see
if they could) not arrive at such a result as would meet
the views of all parties. With regard to the principle
of tenant right itself, he certainly was far from being
opposed to the tenant right of Ulster, but he had yet
to learn that his own bill in any way interfered with or
destroyed the tenant right of Ulster. (Hear.) He was
one of Ulster, and had passed most of his years of pro-
fessional life in that county, and he should therefore be
supposed to know something of its tenant right. Well,
then, being conversant with it, both in principle and de-
tail, he had no hesitation in saying that his own bill
could by any possibility have the effect of destroy-
ing that right. He must, however, object to
the shifting meaning that was constantly being applied
to the term tenant right. For his own part, all that he
recognised in the term was tenants' improvements, and
all that they could legislate for was to secure the tenant a fair compensation for his legitimate improvements. •
That was the object of his bill ; and he hoped the legis-
lature would ultimately experience no difficulty in adopt-
-10
ing it, without interfering with the tenant right of
Ulster, which was entirely beyond the scope and power 10
of legislation. The right hon. gentleman then pro- 25
ceeded to recapitulate and defend the details of his own 10
bill, and concluded this part of his observations by 1.0.1
urging the house to allow the bill to go before a select
committee to be simplified and improved in its provi- St.
sions, if it was possible to do either. (Hear.) 20
12.
[LEFT SITTING.]

BANK OF IRELAND.—At the half-yearly meeting of SI
the directors and proprietors of the Bank of Ireland, held
yesterday, a dividend of 4 per cent, for the half-year was 17
declared ; and it was estimated that the payment of this 25
dividend would leave a sum of 2,5001. to be added to the
rest fund.
COURT OF ALDERMEN—Yesterday, at a court held
for the dispatch of business, a discussion took place upon
the subject of the directions recently given by the Court of 40
Common Council for the prosecution of non-freemen trad- 100
ing by retail within the city of London. A general feeling 100
was expressed that, if such prosecutions were ' under- 100
taken at all, the law officers of the corporation, besides
taking care to produce such evidence as would lead to the
determination of a model case on its merits, ought fur-
ther to guard against molesting the poor tradesman ; and 2
that the parties actually selected should be put to no unne-
cessary inconvenience. Alderman Sydney gave notice of a
motion condemning the principle of these prosecutions. !
MERTHYR TYDVIL ELECTION.—The election for this 7
borough, consequent on the decease of the late Sir J. J.
Guest, Bart., of Dowlais, took place on Tuesday. At 11
o'clock the proceedings of the nomination commenced, and
after the usual forms had been gone through, Mr. A. Hill
put in nomination Mr. Henry Austin Bruce. Mr. D.
Williams seconded the nomination; and there being no
other candidate put in nomination, Mr. Bruce was declared
duly elected.
REWARD FOR SAVING LIFE PROD,. SHIPWRECK.—
BROADSTAIRS, DEC. 9.—The thanks of the French go-
vernment and a reward of 121. were this day presented to
the crew of the Tartar lugger, for their intrepidity, and at
the imminent peril of their own lives, in rescuing six of
the crew of the French brig Messenger, wrecked on the
Long Sand, in the recent plea in October.

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