The Sun.
London, England, 1837-08-02 00:00:00

THE FUNDS.-(TI-HS DAY.)

CITY, TWELVE 0' C L CK.
I{A few papers have been received by the Pennsylvania
packet, arrived at Liverpool from New York, of the Bth ult. ;
but little information has as yet been received by this convey-
ance. The failure of the three great American merchants in
London had not been received on the sailing of the packet
from New York—consequently the effect which it would have
on its being known we have still to learn. The latest arrival
out from England was of the 26th May. The rate of ex-
change on London was 21 to 22 prem. ; Bank Shares were
110 to 111 ; dollars, 11 to 124 per cent. prem. ; and sove-
reigns 5 dollars 45 cents. A vessel was off New York, sup-
posed to be the packet of the Ist of June from England.
This no doubt would inform them of the three great American
failures in London.
Since writing the above we have received the New York
Daily Express to the Bth July, from which we copy the fol-
lowing :
‘• A'IONEY MARKET.—This is the season for dividends. The
Marine and Fire Insurance Companies have done well ; the
dividends for the last six months have been as follow :—The
Atlantic 124- ; Ocean 6 ; Jackson 4 ; Merchants Fire 6 ;
Howard 5 ; Equitable 4 ; and Life and Trust 6 per cent.
The Banks are prevented from making any dividend so long
as they refuse to pay specie. Stocks are all gradually im-
proving. The United States Bank advanced 1 to 2 per cent. ;
the prevailing sentiment is that that institution is determined
to r,sume specie payments on the Ist of August, by which
course die Charter will be secure. It is not supposed that
the old bills of the Bank will ho redeemed in any other
than in current Bank notes. Mr. Biddle has managed
his concerns with very great adroitness, and he has in-
vested a large amount in cotton at New Orleans, by which
means he has put the bills of the old Bank at a pre-
mium of 5 to 10 per cent. This cotton, it is believe], will be
laid down in England, and pay a profit of a million of dol-
lars. United States Bank Stock went up to 110 ; Delaware
opened at 7, but fell off a little; Stocks generally improved,
and there is decidedly a better feeling."
Montreal papers have been received to the Bth July, from
which we extract the following :
.‘ In consequence of the rainy weather which set in yester-
day morning, it was deemed proper to adjourn the loyal meet-
ing which was to have been held at noon, till Thursday, the
dth July. Exchange at 60 days' Bank, not drawing; Pri-
vate, 17i to 181 per cent. ; Montreal Bank Shares, par;
City, par ; Commercial Bank, 7 per cent.
We have received Quebec papers to the 4th July. The
Secret Committee of the Upper Canada Assembly on the
Banks had not reported at the latest date. A notice was
issued for a general meeting of those who are opposed to the
seditious practices lately resorted to, to be held at Champ
de Mars, Montreal. It was signed by 900 persons. The
market continued high ; great inconvenience was felt for
want of change ; indeed, the uncertain state of the currency,
owing to the suspension of specie payments, was a severe
check on all sorts of industry and business, although the pub-
lic conEence in the Banks continued to be maintained.
QUEBEC, JULY 1.--Number of emigrants arrived to this
date, 13,816 ; to corresponding period last year, 16,933 ;
difference in favour of 1836, 3,117.