The Sun.
London, England, 1839-11-29 00:00:00

MONEY MARKET and CITY NEWS

(THURSDAY EVENING.)
TIMES.—The following notice, which does not at
all differ from the last, was issued at the Bank this
afternoon :
" The Governor and Company of the Bank of
England are ready, until further notice, to receive ap-
plications for Loans upon the Deposit of approved
Bills of Exchange, not having more than six months to
run, such loan to be repaid on or before the 17th of
January next, at the rate of interest of 6 per cent.
per annum, and not to be for sums less than 2,0001.
esch.—Bank.of England, Nov. 28, 1839."
The funds have been quiet but steady to-day, with
very trifling va-iations only from the prices of yesterday.
Business has been extremely active in the Foreign
Market, in which the settlement of the account will
take place to-morrow. The transactions in Peninsular
stocks, more especially Spanish, have been on so large
a scale, and the fluctuations and decline of price so con-
siderable, that the arrangement is likely to be a more
difficult affair than on any other similar occasion for
some time past, although it is generally understood
that speculators out of the house will prove the greatest
sufferers.

POST.—The accommodation proposed to be afforded
to the public, in virtue of this notice, will have the
effect of releasing the amount of currency that may be
expected to be withdrawn from circulation during the
next six or seven weeks by the payments made into the
Exchequer on account of duties. Relief will tlso be
given until the re-opening of the transfer-books, which
are about to close, preparatory to the arrangemdnt of
the dividends. The rate of interest continues the same ; ,
and, in other respects, it will be observed that there is
nothing in the present announcement to distinguish it
from those which have usually made their appearance of
late at this season of the year. We may suppose that
the provisions of the recent loan, or conversion, still pre
vent the Bank Directors from including in it Exchequer
Bills as eligible for the object mentioned.
The Consol Market was nearly stationary all the day,
but with a tendency to advance.
The fluctuations in the Foreign Funds were rather
important. To-morrow will be the account-day for that
branch of the Stock Exchange, and, to judge from what
occurred this morning, in anticipation, or, if we may so
express ourselves, at the rehearsal, there will be some
difficulty in bringing it to a satisfactory conclusion. By
some it is feared there may be a repetition, on a small
scale, of what took place in connection with the memo-
rable May account of 1835, the traffic in Spanish
Bonds being now, as was the case at that pe-
riod, the cause of all the mischief. The Actives
were quoted in the early part of the day at some-
thing approaching 24, but, towards the close of busi-
ness, several large bull accounts were talked of,
and operations to a considerable extent were entered
into against tbem, in accordance with the ordinary
tactics of the jobbers, as the best means of protecting
themselves from their threatened losses. The fluctua-
tions ranged during the morning from 23i to 24, but
the quotation, at the close of the market, was only 23*
to The Account is evidently the most eventful one
there has been to adjust for a very long time past, and
we should fear that ninny respectable members of the
Stock Exchange may find themselves unpleasantly in-
volved in it. The " court fraternity" are not liable to
the inconvenience and degradation of having their
names chalked in large letters on the black board
within the house ; but cases of default have, we un-
derstand, already been made known among that class
of babblers, and one of them, at least, is a case of some
importance.

HERALD.—There has been a slight impression
with some parties, for the past day or two, that the
Bank of England Direction had it in contemplation, on
the shutting of the transfer books, to raise the tate of
interest, in consequence of the late accounts from the
United States. With well-informed persons this
opinion obtained no credence whatever ; indeed, we
believe that where it could be done with safety the
Bank has discounted liberally this week. The inten-
tion of raising the rate of interest is, however, com-
pletely negatived by the Bank notice.
Referring to the above notice it is almost needless to
state that the Commercial Money Market is easy on
good credits.
• By the official returns of the actual eiports of bullion
from the 20th to the 26th of this month, it appears that
the exportation of silver in coin amounts to 256,554 oz.,
and of gold in bars 420 oz.
The public, as well as the jobbers in the British
Funds, appear at present to hesitate before they enter
into large speculations for the new account ; the mar-
ket has therefore been tranquil, yet the prices of yes-
terday have been fully maintained.
The progress of the arrangement of the half-monthly
account in the Foreign Market to-day has proceeded
in a manner which certainly cannot be at all satisfac-
tory to the gulls and knaves on the outside of Capel-
court, or to many of the jobbers in the house, who
have lately abetted an unwarranted speculation in the
infamous securities of Spain and Portugal. Indeed,
the tremendous exertions which the bull party have
used to bolster up Spanish Bonds during the past fort-
night, have decoyed many fools into dealing in these
precious securities, without a why or a wherefore, to
their cost ; but the settling of this account will afford
a useful warning to those who have not deserted their
legitimate occupations to hazard their small savings by
dabbling in securities of whose intrinsic merit they can
form no correct opinion. The settling of this account,
which is of a decided bull character, has passed over
but heavily to-r,ay, and there has been much difficulty,
in many instances, in obtaining loans upon Spanish or
Portuguese Bonds, but Spanish especially. A large
outside defaulter was declared, and there are fears
that some further difficulties may arise both in and out
of the Foreign House in the course of to-morrow.
The anxiety which has lately prevailed amongst all
parties connected with the China trade appears to be
somewhat on the increase, respecting the real intentions
of her Majesty's Government on the subject of the late
destruction of the opium drug by the Chinese authori-
ties ; and it has several times been stated that Govern-
ment had determined to blockade the Chinese ports,
with a view to obtain restitution ; but as those rumours
evidently had no authority, they have been treated by
us and others as mere flying reports, got up with a view
to encourage speculation in teas, silks, and other Chi-
nese products. To-day, however, we have received in-
formation, from a source upon which we can confidently
rely, that Lord Palmerston has forwarded a note to the
United States Minister, intimating that. it is the inten-
tion of her Majesty's Government to blockade the Chi-
nese ports rigidly, if circumstances render it necessary.

SUN.—The Bank Notice continuing the rate of dis-
counts at 6 per cent., and excluding Exchequer Bills, has
rathur tightened the Money Market this afternoon, and
on Change there was much hesitation on the part of the
merchants to enter largely into any operations. The
public sales to-day have consisted principally of drugs,
of Java coffee, and of pepper, all of which have gone
off extremely heavily.
The payment of the differences on the Consol Ac-
count were made to-day without much difficulty. The
trial will, however, be to-morrow, on the occasion of
the settlement of the Foreign Account. One " lame
duck" (an Alley man),was announced this afternoon,
who has let in most of his brother speculators in Spanish
Stock to a very heavy amount. This circumstance
will tend to increase the pressure within the House, as
many very respectable, brokers do not hesitate, in order
to get " the turn " of the Market, to transact business
with the " excluded." Money will, in all probability,
be very dear to•morrow. Consols for Money left off
at• 901 f, and for Account at 91i I. Exchequer Bills
are at 4 discount. Bank Stock has fallen to 178, and
India Stock to 2513-.
Preparations for the settlement were the order of the
day in the Foreign Market, and a heavy account indeed
is expected. Spanish fell to 23, Portuguese to 31,
Brazil to 703-, Mexican to 281, and Colombian to
291 These were about the latest prices of the day.
Shares look heavy. Brighton Railway has fallen to
16 discount, Croydon Scrip to discount, and Colonial
Bank to 34 premium.

The Duchess of Buccleuch and Miss Carr
have returned to Montague House, from Brighton.

There have been some very heavy commercial
failures at Venice.

ITALY, PAST AND FUTURE.—The valuable
papers which are appearing in the Metropolitan, entitled
" Italy, Past and Future, by an Exile," are exciting
very considerable attention. We understand they have
been characterised as highly important by some of the
first authorities in the literary world. The period em-
braced in the forthcoming Number is considered to be
particularly interesting. In addition to this the De-
cember Number of this popular periodical will contain
the commencement of a new nautical story, by the
Author of Rattlin the Reefer, and several other articles
of peculiar attraction.

CORRESPONDENCE BETWEEN
THE HORSE GUARDS AND CO L. THOMAS

(Published in the Standard of No venibz,r2B:)

Horse Guards, Nov. 8, 1839.

Sir—Lord Hills attention having be en attracted by a
report published in the accompanying impression of the
Times newspaper of the 2d instant, of s pceches made at a
meeting denominated " a Conservative Association,"
at Ashton-under-Lyne, on Wednes d,iy, the 30th
ultimo, in one of which speeches, more particu-
larly that made by Mr. Roby, expressions most
insulting and disrespectful towards the Queen are
stated to have been uttered on that occasion, and
that in your hearing, as well as in the hearing of
other officers now employed in the northern district, I
have received Lord Hill's commands to point out these
expressions to you, and to desire that, on receipt hereof,
you acquaint me, for his Lordship's information,
whether you heard them ; and if you did, whether
you expressed your disapprobation thereof upon hear•
ing them.
I am to add that it is most painful to Lord Hill to
know that officers of the army were present on such an
occasion ; but that his Lordship will refrain from pass-
ing any opinion on the case until you shall have fur-
nished such explanation relative thereto, as you may be
prepared to submit for his consideration.
The expressions to which this letter alludes are tran-
scribed in red ink in the margin. . .

You will be pleased to return the newspaper with
your answer.
(Signed) J. MACDONALD, A.G.

(Extracts referred to.)
" He trusted the Duke and Sir Robert Peel would
purge the Court of that filth which stunk in the nos-
trils of all but those who did not know virtue from vice,
purity from impurity, innocence from youth ; for virgin
innocence was banished from the Palace, while vice
rioted rampant at the Royal board.—(Cheers.)"
" He was sorry to use such words, but they were the
words of truth and soberness."

" A Lady Flora Hastings was dismissed with scorn
and obloquy, and fell a sacrifice, whilst a Melbourne
and a Headfort—(Faugh)—basked in the sunshine of
Royal favour.—(Applause.)"
" When any one aimed a blow at the epicure admi-
nistration, down he
.skulked behind the embroidered
petticoats and the flounces and the furbelows of the
ladies of the Court.—(Laughter.)"

Stockport, Nov. 9, 1839.
" Sir—l have had the honour to receive your letter
of yesterday's date, calling upon me to state, for Lord
Hill's information, whether I heard certain expressions
quoted in the margin of that letter, as most insulting
and disrespectful towards the Queen, and purporting to
be an extract from a speech made by Mr. Roby, at a
meeting ' denominated' a Conservative Association, at
Ashton-under-Lyne, on the 30th ult.

" In reply, I beg to state that, without pretending to
be able to determine with any degree of certainty the
.correctness of isolated expressions extracted from re-
ports of speeches delivered on the occasion referied to, I
can with confidence assert, that the whole tenor of Mr.
Ruby's speech at the dinner breathed a high spirit of
loyalty to the Monarchy; and I beg further to add that
as no expression uttered by that gentleman con-
veyed to my mind that the slightest disrespect, much
less insult, was offered or intended to the Queen, there
appeared no ground for the expression of my disap-
probation, and 1 had flattered myself that my long and
faithful services of upw arils of one-and-forty years
might have assured Lord Hiil that I would not have
been wanting had such an impression been received by
me.

" I have to lament that the knowledge of officers
having been present on such an occasion should be
painful to Lord Hill. With reference to myself, I was
honoured with an invitation, as a Member of Parliament,
to meet Sir F. Burdett, which I could have no hesita-
tion in accepting.

" The prompt reply demanded has prevented me
from having any communication with the other officers,
who I understood, when I met them at the dinner, were
invited as an acknowledgment, on the part' of the
neighbouring gentry, of the high sense they entertained
of their services in support of the magistracy, and the
protection they afforded to life and property during the
Chartist disturbances, and which was conveyed in the
most gratifying terms when their health was proposed.
" H. THOMAS,
" Col. Corn. 20th Regiment."

" Stockport, Nov. 16, 1839.
" do myself the honour to acknowledge the
receipt of your letter of yesterday's date, conveying to
me Lord Hill's express desire, that in my answer to your
letter of the 12th instant, I shall confine myself to the
simple denial (or admission) required of me by that
communication, omitting the words—' Which, in my
opinion, is a garbled report of what that gentleman did
say in his speech at the Ashton dinner.'
" Having in my letter of the 9th instant asserted
with confidence that the whole tenor of Mr. Roby's
speech on the occasion referred to, breathed a high spirit
of loyalty to the monarchy, and that no expression ut-
tered by that gentleman conveyed to my mind, that the
slightest disrespect,much less insult,was offered or intended
to the Queen, and that consequently there appeared no
grounds for the expression of my disapprobation which
would not have been wanting if such an impression had
been received by me :'
" Having further stated in my letter of the 114th
inst., That I did not hear the particular expressions on
the occasion referred to,' and quoted in the margin of
your letter of the Bth inst., which in my opinion is a
garbled report of• what that gentleman did say in his
speech at the Ashton dinner :
" I now beg to acquaint you, for the information of
Lord Hill, that, with the greatest respect and submis-
sion to the Commander•in-Chief, I have nothing
further to offer in explanation ; nothing to retract or omit
from what I have already stated, and I stand upon
my character as a soldier, and my birthright as a
gentleman, which I cannot help feeling have been re-
flected upon by most unmerited suspicion.
(Signed) " H. THOMAS, Colonel.
" Lieut.-Col. Commanding the 20th Regt.
" The Adjutant• General, Horse Guards."

NORWICH UNION LIFE
ASSURANCE OFFICE.

A meeting of the assurers in this office took place
in the Assembly Rooms at Norwich, on Tuesday, for
the purpose of considering the report of the examiners
who had been appointed two years since to inquire into
and ascertain the precise position of the affairs of the
Society. The room was crowded to excess, and it was
calculated that there were as many as between 500 and
600 assurers present. Colonel Hervey was called to
the chair.

After some conversation, the nature of the duties
which it was expected the Secretary should perform was
read to him in the following terms :—" That the secre-
tary's salary be 2,000/. per annum, with the use of the
house in Surrey (excepting such part as was let to the
fire-office), and that he attend a.l meetings of the Direc-
tors, prepare and enter the minutes, conduct the cor-
respondence with agents, and the advertising, receiving,
and giving receipts for daily payments, and cause the
same to be sent to the bankers daily, making all pay-
ments, and generally conducting the affairs of the office
not confided to the actuary."
Mr. FULLER moved a resolution, which had for its
object the appointment of a Committee, for the purpose
of revising the laws of the Society.
Mr. BARTHE moved as an amendment the following
resolution :—" That this meeting regards the Report
of the Examiners as highly satisfactory, establishing the
entire safety of the Institution, and the prospect of
important future advantages to all who may effect in-
surances with it, and that the thanks of the Society be
given to Mr. Alderman Farebrother, and Messrs.
Steward and Lloyd, for their most important ser-
vices."—( Hear, hear.)
Mr. GODSON, M.P., was understood to second the
motion. '•

After some conversation, the resolution of Mr. Fuller
was understood to be withdrawn, that gentleman at the
same time intimating his willingness to support the pro-
position of Mr. atrthe.

Mr. F. G. SMITH then spoke at considerable length,
and animadverted in strong terms upon the course
adopted by the London Committee, at the meeting in
London on Friday last.
The CHAIRMAN, after some irregular conversation
had been gone into, called on the Secretary to read the
" Address of the Directors to the Meeting:.
Mr. GODSON rose for the purpose of putting the
meeting in possession of what it was that they had really
met to consider.—( Hear.) It was, that they should
consider the Examiners' Report."—( Hear.)
Mr. Alderman FAREBROTHER said that the Exami-
ners had submitted to the Directors certain regulations
which they deemed requisite for the proper conducting
of the affairs of the Society, which they expected would
be adopted.
An Assurer wished to know if the Examiners would
make a second report?
Mr. Alderman _FAREBROTHER—CertainIy not ; but
if there was any question which it was desired that the
Examiners should be asked, they were perfectly ready
to afford all the information in their power.
A somewhat warm conversation here arose between
the Alderman and Mr. Morgan, in the course of wliich
the former raked for the production of the calculations
which the latter had made in 1829, but they were not
forthcoming, Mr. Morgan stating that they bad been
mislaid or lost.

Mr. PONTIFEX thought that the exhibition to which
the meeting had just been a witness was a strong argu-
ment to show that there had been mismanagement in
the affairs of the Society, and that there ought not to be
a continuance of the undivided sway over its concerns
in Norwich.—(Hear, and groans.) The Learned Gen-
tleman then referred to the different charges which he
conceived from the information he had received to have
been well founded. (These charges were the same as
appeared in our report of the London meeting in Saw-