The Sun.
London, England, 1839-01-05 00:00:00

THE SUN, LONDON, SATURDAY, JANUARY 5, 1838.

MONEY AND CITY NEWS.

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(rßom VDT MORAY(! PAPERS OP TiHi DAY.)

TINIES.—The Foreign Exchanges have undergone no
further decline this afternoon, and the rate generally is rather
firmer than on Tuesday. This is the natural effect of the em-
ployment of bullion as a remittance, instead of bills, which
are neither to be obtained to the extent wanted, nor would
they in many cases so effectually answer the purpose. The
prevalent opinion is, that it will be necessary to el port the
precious metals in large amounts for a considerable t;me to
come, if the Exchanges are to be kept even at their present
level. The Exchange on Paris, short, was 25, 25 to 30 ;on
Hamburgh, 13. 84 to 9.

HERALD.—The demand for money, in the shape of dis-
counts, has been rather augmented within the day or two which
have passed, but we do nut learn that the rate of interest has
been augmented, excepting in cases where bills did not main-
tain the usual responsibility of security. It is also gratifying
to notice that the prompts which have fallen due this day, al-
though extremely heavy, have, for the most, been acquitted
Without difficulty.

From the be.:t information we are enabled to state that the
expor:ation of bullion from this country to the Continent,
particularly in silver, is going on to a great extent, although
the plan of sending it to the out ports, with a view to avoid
public notice, does not enable us to give at present accurate
statements of the amounts ; but this circumstance, worthy of
notice as it always is, has at present created no alarm in our
mercantile and monetary circles.

The features of the Market for the Continental Exchanges
has not particularly altered in the rates for business on the
Northern Ports, but on Paris they have been quoted rather
lower, and money continues more plentiful than bills. On
Amsterdam transactions have been effected at 12 3 a 12 31 ;
on Rotterdam, at 12 31 a 4; on Antwerp, at 12 2 a 21; on
Hamburg, at 13 84 at 13 9 ; on Frankfort, at 1501 a 150 a :};
and on Paris at 25f. 50e. a 251. 55e. at three months, and for
the same term in money, at 25f. 474 c.
It will be seen, from the advertising columns of this journal,
that the Directors of the National L?an Fund Life Assurance
Association have given notice that they
w.ill ~ pay to the pro-
prietors the half-yearly interest, at the rate of 5 per cent. per
annum on the paid-up capital on and after the 10th of January.
The punctuality with which the Directors have paid the ac-
cruing interest on the capital of this young and useful institu
tion is an evidence that it catinr:t be ranked amongst many of
the bubbles of the day, whilst it shows that prudent manage-
ment has laid the foundation for future prosperity, insomuch
that it is anticipated that the Company will be enabled to de-
clare a moderate dividend, in addition to the interest upon the
capital thus invested. To the humbler classes of society, the
middle, especially those with limited incomes and large fami-
lies, as well as the rich, it presents the means of providing for
the future in so simple a manner that it is calculated to incul-
cate a provident morality, even in persons just launching into
the cares and turmoil of life. To illustrate the eas.e with
which a person, aged 20, who can spare a shilling a week, or
2/. 12s. per annum, may anticipate misfortune or any other con-
tingency at the age of fifty years, we think that we shall
not travel out of the record of utility by stating that at that
age he will be entitled to the option of an annuity of
101. 12s. 6d. for the remainder of his life ; or 136/. 12s. in
cash down ; or a life policy of 2141. 15s. payable on his &-
mise, and so on, in proportion to the age of the insurer. The
premiums cease with the end of the term, and two-thirds of
the payments may be withdrawn at any time on the deposit
of the policy ; and, should the party not survive. two-thirds
of his payments will be returned to his representatives. In
Scotland this institution has done a great deal of business
amongst the middle classes, which sufficiently supports our
notice of its utility.

The following' notico, which is interesting to our corn-
mercio-maritime interests, has ben issued from the Custom
House at New York, dated Dee. 7, 1838 :
" The undersigned is authorised by the Treasury Depart-
ment to give notice that the underwriters and shipowners have
the privilege of depositing in the light-ship, stationed off
Sandy Hook, provisions and water for the use of vessels
coming on the coast at this inclement season of the year."

(Signed)

"J. HOYT, Collector."

POST.—The Funds opened with considerable firmness
this morning in both markets, and there was more doing, but
the principal transactions were in the foreign house. The
Dutch Bonds acquired an increased value from the more
favourable rates at which they came quoted from the Continent.

CHRONICLE.—There has not been a great deal doing
in the English Stock Market, but Consols continue firm at
941 buyers for the opening. Exchequer Bills are 655. to 675.
premium; India Bonds, 625. to 645. ; and Bank Stock,
2021 to 31.
The Foreign Stock Market has been altogether very
buoyant to-day, and a greater amount of business has
been transacted in it than usual. Portuguese Securities
in particular have improved 11 per cent. since yesterday,
in consequence of a better feeling which exists as regards
the affairs of Portugal, and a greater confidence in the
willingness of the Government to do justice to the foreign
creditors of the State. Spanish Active is a little better, as is
also Dutch stock. Spanish Active Bonds are 164 to 17 ;
Deferred, 7/ to 1; Passive, 3.1. to 4 ; Portuguese Five per
Cents., 33 to ; ditto Three per Cents., 2ifto i; Dutch
Five per Cents., 1011 to 102 ; ditto Two. and a- Half per
Cents., 541 to ; Belgian, 99/ to ; Brazilian, 771 to 78 ;
Colombian, 25f to 26/ ; Mexican, 23 to 1; and Peruvian,
16 to 17.

There is nothing particular to notice in the Share-market.
London and Birmingham, old, are 78 to 80 prem. ; ditto,
new, 24 to 25 prem.; Southampton, old, 45 to 46 per share;
ditto, new, 20 to 21 pram. ; Leeds and Manchester, 19 to 21
; Manchester and Birmingham, par to prem. ; Great
Western, 124 to 13k prem. ; Birmingham and Derby, 9 to 8
dis. ; Brighton, 3to 31 dis. ; Blackwall, 1 to k dis. ; Croy-
don, 12i to 13i per share; ditto, new, 2i to 11- dis. ; North
Midland, f toll prem. : and Greenwich, 161 to 171.
American Securities are beginning to recover from the de-
pression which oecur: ed upon the receipt of the intelligence—
the " revolution in Pennsylvania," as the late election riot at
Harrisburg was so absurdly termed.