The Sun.
London, England, 1862-07-11 00:00:00

MONEY MARKET.

CITY NE NV S—YESTERD AY.
An instalment of 15 per cent. fell due to-day
en the Egyptian Loan for £2,195,200, and a pay-
ment of 10 per cent. on the last Russian Loan. A
considerable proportion, however, i•'as previously
been paid in full, especially in the former case.
An auction of the foreign redeemable (passive)
debt of Spain will take place at Madrid on the
29th inst., the sum applicable being 6,261,472 rls.
The EtIM of £BO,OOO in gold was taken to the
Bank to-dair. The Etna has arrived from New
York with the large sum of £450,000, which will
also be sent into the Bank. The African mail
steamer Alac gregor Laird has brought £lO,lOO in
gold dust and specie.
About £40,000 in Russian half-imperials arrived
to-day from St. Petersburg, besides £5,000 in silver
roubles. Further remittances are expected.
The steam er Pera will take on the 12th instant
z,e,52,300 in silver for Bombay, and £5OO in gold for
Aden.

Owing to the exciting yet doubtful character of
the news just received from America, further intel-
ligence is awaited with the utmost interest. The
Bavaria is due from New York this evening, and
the Cunard steamer, China, on Saturday.

The American packet brings the prices of securi-
ties but slightly lower than by the previous mail
The chief weakress is observable in State stocks.
Rere, prices are again lower, sales on English ac-
count apparently continuing.
The Liverp 00l cotton market to• day was decidedly
heavy, and prices in some cases, particularly as re-
gards Surat sorts, presented a fall of :1 to a per lb.
The sales were limited to 3,000 bales.
At Paris to-day the 3 per Cent;. Rentes opened at
68.45, and closed at 68.20 for money, and 68.35 for
the account, beings per cent. lower than yesterday.

CITY NEWS-THIS DAY.

CITY, TWELVE O'CLOCK.

Some important alterations me shown in the
Bank of England return completed to the 9th inst.
A large diminution is apparent in the public de-
posits, owing to the distribution of the July divi-
dends, and there is a considerable addition to the
private balances. The repayment of loans, &c.,
has caused a diminution in the amount of the other
securities, while the influx of bullion from America
and Australia has produced an extensive addition
to the stock of the precious metals. The various
Items of the balance-sheet, and the changes they
Present, are shown in the subjoined table;—
Active Circulation .. £21,815,660
Increase .. • • 209,895
Bullion 17,055,537
Increase .. • • • . 834,766
Rest .. 3,209,305

Increase : : : 46,070
Public Deposits .. .. 5,429,939
Decrease .. 4,242,406
Other Deposits.. 17,199,715
Increase 3,347,846
Seven Day and other Bills .. 688,830
Increase " 52,324
Government Securities .. 10,952,679
Decrease ..
.. "` ** 130,572
Other Securities .. 20,238,233
Decrease .. . . 1,290,55
Notes -Unemployed 9,021,975
Increase 547,802
The Bavaria, from • •
New York, has brought
£108,343 in specie.
The Peroßombaymai , which leaves to-morrow with the
l, will take out £52,300.
An ordinary meeting of the Arica and Tacna Rail-
way Company will take place on the 24th inst., for
the declaration of a dividend, &c.
The traffic receipts of the South Austrian and
Lombardo-Venetian Railway for the week ending
the Ist inst. amounted to L 55,792, being an increase
131. £10,987 compared with last year.
There has been rather less activity in the Foreign
and Colonial Produce Markets during the last few
4 sYs• Sugars in some instances were rather
cheaper, but tea, coffee, cocoa, and rice have re -
Inaltled at full rates. Spices are also slightly
cheaper, and a very limited business has been done
1,,11, saltpetre, without any material change in values.
-Lae tallow market has been dull. P.Y.C. on the
590 t, however, is quoted 475. ; and for last three
t"nths' delivery, 495. per cwt.

Two o'CLocK.
The monthly return issued by the Bank of
France is of a less favourable character, there
being an increae of £2,448,000 in the bills dis-
counted, and a falling off of £976,000 is exhibited
in the bullion. The advances have been aug-
mented to £312,000, the Treasury balance:
£344,000, and the current accounts £1,088,00 ,
while there has been an increase in the Bank notes
to the extent of £1,344,000.
A meeting has been held to-day of the Peel
River Land and Mineral Company. The balance
sheet -sho have
£19,853 the total income for :1861 to
amounted to £19,853 Bs. 2d., which, in addition
to the reserved fund—viz., £3,074 78' 2d., gave an
available balance of L 22,927 15s. 4d. As the
reserve fund was specially created for the equalisa-
tion
of dividends, it was resolved to appropriate
an i
amount to enable the directors to declare a
dividend at the rate of 31 per cent., free of n-
come-tax, absorbing altogether £21,000.
The Market for Public Securities to-day has
tundergone very little alteration, and the transac-
.ions have beenconducted on a limited scale. There
is still an absence of active speculation, but the
easiness of money give support to the quotations.
Consols are 921 for transfer, and 92/ 77 for the 7th
prox. The New Threes and the Reduced are firm
at 921 -1-; Exchequer Bills at 16s. to 18s. prem. ;
Bank Stock has receded to 234 and 2351; but India
Five per Cents. have recovered to 1071 1.
The dealings in Foreign Securities have not
been very extensive, and
i the only movement of
mportance has been the advance in Spanish Cer-
tificates, viz., to 10 I; Italian 5 per Cents. are
steady at 69i ; Mexican at 281 ; Egyptian Scrip at
61 ; prem. ; and Sardinian at 831; Turkish
per Cents. are 841 85 ; ditto, 1858, 71 2 ; and the
Scrip remains at 14 prem.
In the Railway Share Market the operations
have been very limited, but prices have slightly
improved. Caledonians, Lancashire and Yorkshire,
and Midlands, have advanced 55.; and Eastern
Counties and South-Westerns, 10s.
For the Foreign and Colonial lines the inquiries
continued very restricted. San Paulo realise 81 ;
Bahia and San Francisco, 181 7,-; Cape Town and
Dock, 1071; East Indian, 104 ; and Great Indian
Peninsula, li/13 102,
Joint-Stock Bank and Miscellaneous Shares re-
main inactive, without any material change in
values, except Van Dieman's Land, which have re-
ceded about £l, viz., to 12 and 121.

BRITISH FUNDS—ONE O'CLOCX,
Bank Stock
3 per Cent. Reduced Annuities
i *
3 per Cent. Consols Annuities
"'w 3 per Cent. Annuities
...activ. 2, per Cent. Annuities ........... • 7°l
.a. dia 6tuck
Ditto 5 per Cent.
co„,oio sZI 22
i t
Vitt s Bfond 000
India stolAccount, Aug. 7 .......
1.07 i I Bache c tor Account, 5 per Cent .. •
Ditto Bills £l,OOO, 3 per Cent
° Small
. 11.0R/1
Brazilian, 5 rt IGN FUNDS—ONE O'CLOCK.
Ditto 4i
7 prer Cent. ........ —
Egyptian epreitt.. 1852-58-60
Ditto, Pahl •,,, surt;3 Scrip
Lillian 5 per Cent,friar.........
Ditto Scrip,,., erfunana Railway) -1,
Mexican, 3 per Cent ............... •• • • a
Ditto Account
•tivisian 5 per Cent . 1.8`6 . St. ' ....
281
I)itto 41 pet Cent„ .. -St
Ditto 3 per Cent .1856
Sardinian 5 per C'ent
Ditto Account
Spanish 3 per Cent
Ditto Passive.. . ........ ........
Spanish Cert. of Coup. not•fande. ...... • • 191
Turkish 6 per Cent. 1854 ... d
Ditto Account ..
...._
[ _Ditto 6 per Cent. 1858 ......•
1 t
t o
A (Tann
t .....................
Ditto 1862 (Scrip) ........................ 7U I
Ditto, Paid up Scrip. ................ ... I Dividends on the above tiayabl In L-zdon.
Italian, 5 per Cent., 1861, Ex. 25f. ...... G 94
coirols, Money
..................... 'ii
TWo eveLOCK.
Ditto Aug., Account ...... .
....... 211 i
Sa•••••••=mmo,

6.4.0

His Excellency M. Thouvenel, French Minister
of Foreign Affairs, accompanied by Count de St, perrioi,
has arrived at the Clareudou Hotel from Pula.

Share;

13.14

LINES LEASED AT FIXED RENTALS.
Leasing Closing Business
Railways. Paid. Co. s Price. Done.
-- • —
Bedford and Bletchley all Ln.&N.W
Birkenhead...
Buckingh ,m4iihre. _ 100 Do. 95 96
Chester & Holyhead lOO Do. 55 56
Do. 54 per cent 100 Do 126 128
Do. 5 „ 100 Do. X 114 116
Clydesdale Junction 100 ,Cledon lo'2 104
Colchester, Stour Val. 100 1E.1.7.&E.0 65 67
E. Lineolnsh. gr Apr e. 100 'Gt.Nerth. 136 138
E.Union,HarwichShs all B.Counts. 44 41
Do. Woodbridge.... 100 .. • • • •
Gls•Barr.&Neils.Dret. 100 Cledon
Gloster &Dean Forest all Gt. West • • • •
Hull and Selby all Yk.N. Mid 110 112
Lancaster & Carlisle 100 Ln.&N.W 199 202
Lon. and Chat. Ext. B
6 per cent
Do. Bromley. 6 per c all D 0....... .. ..
DlNew ShlB6l, C,p.e all D 0........ 21 23
Do.W.i. Ext. A, 46 p C all Do ... . . ... s 4 #
London & Greenwich 100 S.Eastern 63 C 5 64
Do. Frei eren 'i
Lon.,Tilb.& S.. -"lend 100 Peto &Co B6 38xd
Lowestoft gua. I p c.. 100 Norfolk
Do 6 per cent lOO Do.•Mne.,Bxtn.,& Matlock all LNW& M3l 41
Mid. Bradford Prefer-
Nortlin.&Eastn 5 e
gua. 5 per cent. .. 1
Prefer-
ence stock
1,10.
rtx
ah4kriaerntii.ep.Poo:. i
Newmarkt, BuryEx 5. 5.6. E Counts. p 6 p
all Do.. 13132
Do,
110 N. E. Ber . ..
Not. Gran. AT
wyre. 1 all
all Midland 164 17
Preston and 154
CI.
100 Gt. North. 94 95
Do. 6 shares . & L.Yk.
L&N.W 44 46
Roystn.llitalagWA• all Do. ••• •• . .. ..
Shrewsby & Here, eP• 100 Gt. North. 135 131
Do. Do.
Wes tLondon, Cis A."
ord 100 T Brassey 125 130
South Staffordshire ,• 5
100 rm.aisi
.11 2ip
all W.Ln.Ex ...... 1:
Do do B t
Do do C all Ln&N.W.
Wilts and Somerset looa I..szi,(t.Wst.
Wilts
& Croydon all ir,t" West. 91 93
•&Brgtai 8i 9i
JOINT-STOCK BANKS,
190 1 Wra&UnitedServiee Bk,n
100 Alliance B.Ln.&L'pool 7" 88 So
40 Australasia
all 65 41) 111
25 kof Egypt all 234 34r
100 link of London
50 , 'i•itisli North Amerlisar ad _ 7...._
20 Ch. Bk. of B. Columbia 5 4 dis ip
20 1. iitd.Bank ot India, Az.. all 206 21
25 irli.Mer. of In. Lon.&Ch all 14 86
100 City . ...........
100 Colonial ....... ....... • • 25 40 42
20 Eng.. Scot, t Aus. Co., all 174 181 18 174
,0•11 Ciim. Bank of Canada all
20 (den. Bk .of Switzerland all -
100 Imperial Bank Limited 7 i dis ip 74
100 Lou ion and Brazilian
4-, IA
20 Lou. Char.Bkot Austral all ''3 ~,‘,l,
50 London and County .• 9.0 3B',' " 39..5i
50 London Joint Stock .• 10 , 356 161 .301
20 London and S.Airican l2 ' par /P.
100 London & Westminster 20 Si 82 82 14
100 Metrop. & Provinl. Bnk. 10 1 id
20 Nat. Prov. ot England , 42 -"•-
50 Do. new l2
20 National ihnk ....... 3) 37
25 Ne w South Wales.— all 40 42
20 i trient. B. Corporation . all 51 52 514
100 Otto.r.an Bank all 06 27 261 6 i
10 Provincial ot Ireland
25 Do. new .... . • all I
25 South Australia ...,••• • all 35 37 x d
Union of Australia •. • • all 156 464
100 Union of London —••• • 12 346 356
' 100 Unity Mutual.... ~•••• 60 • - . 1-2

MISCELLANEOUS.
lu Anglo-Mexican Mint all 1 171 IFI
10 A tlantic R. MI. Stm (101 all 2 3
25 .I.ustralian Agricultural 19 ?3 25
10 Bahia Steam (Limited). 1
10 Berlin Water (Limited all 41 51 5
5 Bombay Gas Limited. 1 i die 1p 11
50 British American Lane 40
50 B.&l.Mag. Tel. A. (Lima all 25 30
20 Do. 13,70.c.ti111852 (Lim.' all IS 20
20 Do. C. (ttmited) all 9 11
32* Canada Land all 105 110 x d
10 China & Japan Coast &
River Steam Naviga. 5
at. Cop.Min.ofEng.&Srnitg. all
25 Do. Pret. 71 per cent all 13 16
st. Crystal Palace
at. Do. Preterene.
st Do. 6 p ct. Perpet. Deb l6O 104 ((8
10 E.lndia & Lon. Ship A all --
I 6 Do. B all
20 E.lndia Irrign. & Cana 1 nar fpm 14
st. Electric Telegraph
25 Do. New all
5 English & Ans. Copper an 2 24 2/ 1
15 Gen. Steam Navigati n- 14 i 26 27
1 Great Ship Limited) all i i
1 Do 174 pet Preterene, all t 1
2 Indian Carrying (Lim.; 1
5 Lon. District Tel. (Lim. 41 31 34
4 r,.G. Omnibus Co. (Lim. a; i li 14
10 Lon. & S.lrel.Dt.Tel.L. 2 --
20 Madras lrr. and Canal 1 21 27,
10 Med. Eaten. Tel. (Lim all 3 4
10 Do. 8 per cent. pref all _
25 National Dia. Co. (Lim ' 5 14 1/ p 64
20 Nerbu.Coal&lron (Lim 5 24 74
10 Netherlands Land, 8P c. all 4 1
100 N.Br.&NovaScotia Lane 81 12 14
1 N.B.Australasian(Llm. all 1 1
1 Oriental Gas (Limited). all 14 14
10 Drintl. in. Steam (Lim.' all 64 61 xin
at. Peelß.Lnd.&Min.(Lim 100 56 58
5.2 Pen. & Oriental Steam all 68 70 70
ii. Do. New, 3O 9 11
20 t Red Sea&ln.Tel o• 41p.c. all 19 191 194 1
50 t-'• • all 17 19
251, South
hney Iron
all 44 Si
25 Do. New
Rio Janeiro City Impts. all 284 281 x 4
i:'ol7. lifia:111 M
sa Mail do. Ste a m 2 i b
Submarine
on
Ti.
.letnle.vr
se. (deLr
Scrip.,
pm. ). 100 130 5 3 14065
194 1
1 Inasstti.raoal( ian Land all 32 23
1 Do. do. Et , 1
4 I
1
2 TelegraphAltst iritialddoi.
ii,bast.(tLis_), all:
442 61
4d I
10 Trust and Ao.en:, n'
20 TrALll,Co.ot u •
5 11. K' dom Tel. CoprilCan. 51
Idt
Iptr
100 yap Diemen's Laud 284 10 12 12 4

HOUSE OF COMMONS—THIS DAY.
The SPEAXER took the chair at 25 minutes past twelve
o'clock.

PRIVATE BUSINESS.

The Lords' amendments to the following bills were con-
sidered and agreed to, and the bills were ordered for third
reading :—Banstead and Epsom Downs Railway; Bris4ol
Port Railway and Pier; Greenock and Wemyss Bay Rail-
way; Llanelly Railway and Dock; Llanidloes and New-
town, Mid Wales, and Manchester and Milford Railways ;
London, Chatham, and Dover Railway (Extensions to
Walmer and Deal) ; Nene Valley Drainage and Naviga-
tion Improvement ; North Devon and Okehampton Rail-
way; Sevenoaks Railway; Swansea Harbour Trust; and
West Midland Railway (Additional Works).
PAROCHIAL ASSESSMENTS BILL.

The house went into committee on this bill, resuming at
clause 14,

Mr. A. TURNER said there were not more than twenty
members of the house present, and as he objected to a bill
of this importance being considered when there was such a
small attendance, he would move that the chairman report
progress.

The house divided, and the numbers were—
For the chairman reporting progress .... 7
Against
Maj0rity............ —22

Some discussion took place on clause 14, which gave the
assessment committee the power of valuation of property,
and the right of appeal by the parties who considered they
were unduly rated.

LEFT SITTING.

HOUSE OF LORDS—YESTERDAY.
The LORD CHANCELLOR took his seat on the woolsack
at five o'clock.

THE DIVORCE COURT.
The Marquis of CLANRICARDE asked the noble and
learned lord opposite (Brougham) whether he intended to
postpone a bill which stood in his name for second reading
relating to cases in the Divorce Court, relative to the vali-
dity of marriage being tried by jury.
Lord BROUGHAM said he would proceed with his bill
with as little de!ay as possible, but (as we understood) he
did not think it would be during the present session.
• PRIVATE BUSINESS.

The Duke of Cleveland and the Earl of Sandwich's Es-
tate bill was read a second time.

The Metropolitan Meat and Poultry Market (western
approach)—Rickmansworth, Amersham, and Chesham
Railway—Lpndon, Chatham, and Dover Railway (Batter-
sea Junction)—and Stafford and Uttoxeter Railway bills
were read a third time and passed.
DEPAR I MENT OF JUSTICE.

Lord BROUGHAM asked whether there was any in-
tention on the part of the Government to give effect to a re-
solution of the other House of Parliament, which was come
to about five years ago relative to the establishment of a
Department of Justice.

Earl GRANVILLE said at that moment he could not
give the noble and learned lord an answer to his question.
SALMON FISHERIES (SCOTLAND) BILL.

HOUSE OF COMMONS—YESTERDAY.
The SPEAKER took the chair at 4 o'clock.
PRIVATE BUSINESS.

The Londonderry and Coleraine Railway Bill (Land)
was read a third time and passed.
ALLEGED GRIEVANCES ON THE PART OF
THE IRON SHIPWRIGHTS.

Mr. DOULTON presented a petition from a number of
shipwrights who had been engaged in the iron ship-build-
ing trade complaining that persons who were acquainted
only with the construction of wooden ships were employed
in the Government docks in the making of iron vessels,
for which they had not a requisite mechanical know-
ledge, which was alike unjust to the men engaged in
the peculiar department of iron vessel building, and most
injurious to the public service.
SIR W. ARMSTRONG'S GUNS.

Ta reply to Mr. OSBORNE,
Sir G. LEWIS said that a number of the 12 ton guns of
Sir W. Armstrong's invention had been ordered by Govern-
ment, and guns of a still larger calibre were ordered by the
Government.

RECOGNITION OF THE KINGDOM OF ITALY.
In reply to Mr. C. BENTINCK,
Lord PALMERSTON said that from information which
the Government bad received, he understood it was the in-
tention of the Russian Government to recognise the king-
dom of Italy, without reference to any conditions, the inten-
tions of that kingdom being pacific towards the neighbouring
States. He believed some negotiation had taken place pre-
viously between the French and Russian Governments on
the sabject.
RELAXATION IN THE LAW RELATING TO
LICENSES.
In reply to M. HUNT,

The CHANCELLOR of the EXCHEQUER said that
his attention had been called to the inconvenience resulting
from the provisions in the Customs and Inland Revenue
Act passed this session. He thought it desirable that a
relaxation should take place in the present law, but at the
same time he considered the matter was too important to be
decided on hastily, and that no alteration should take place
in the law without due consideration.

FORTIFICATIONS (PROVISION FOR EXPENSES
BILL.)
The house went into committee on this bill.

Mr, OSBORNE moved that the sum of £4200,000 for
fortifications should be reduced to £BOO,OOO. He contended,
that Government was proceeding on an entirely erroneous
principle in the construction of forts, instead of devoting
their attention to securing the efficiency of the navy, which
was the real security for the prevention of invasion of this
country. The spending of money on the fortifications
that were at present being constructed was an entire
waste of money, He quoted the authority of General
Sir de Lacy Evans and Admiral Berkeley, to show that

the adoption of the advantages for defence afforded
by steam power would render an attack on this country
by a foreign power abortive. With all due respect to
Lord Palmerston, he thought that these authorities
were more to be relied on than the noble lord, and he
ridiculed the idea of anything like the permanent occupation
of this country by a hostile power. The great point which
had been achieved by this country in regard to this mat-
ter was the facility of concentrating troops at a given
point, which rendered anything like the permanent,
occupation of this country, to which he alluded,
most improbable. At one time a large body of troops could
be conveyed from one portion of the kingdom to another at
the rate of only three miles an hour, while at present they
could be conveyed at 30 miles an hour. He contended that
it was an inevitable sequitur that the maintenance of the
forts proposed would require a large number of soldiers,
which must necessarily detract from the military efficiency
of other departments. From the published opationsoi compe-
tent military authorities, it appeared that 6,000 gunners
would be required for the working of the ordnance of the pro-
posed torts. What was the necessary result, why that the
engineering military department must be augmented. He
adverted to the opinions of the late Duke of Wellington,
Gen. Burgoyne, and other military authorities, who was
adverse to the system of fortifications as a means of
national defence, and he warned the house against
confounding increased expenditure in military matters
as being representative of increased efficiency. (Laughter,
and hear, hear.) He contended that some of the forts,
which appeared to be fortes of the noble lord at the head of
the Government—(laughter)—were unnecessary and ab-
surb. In support of his statement, he referred to the
fortifications at the Isle of Wight and some of
the other principal forts in course of construc-
tion, and he accused the house of holding a candle
to the military enthusiasm of the noble premier, who
had already plunged the country into a preliminary ex-
penditure of £93,000,000 for naval matters within a given
period. He thought it rather an expensive luxury for the
country to incur in paying such large amounts merely to
retain a certain Government in office. He called
on the house not to be carried away by the
old doctrine of the responsibility of the Ministry in regard
to the expenditure of money, but to assume that responsi-
bility themselves. (Hear, bear.) He concluded a peroration
of some length, by expressing his opinion that the course
pursued by the present Government would plunge the
country into inexhaustible financial difficulties and embar-
rassments.
, Mr. BRUCE ridiculed the remarks of the last speaker,
and vindicated the course pursued by Government in
making provision for the defence of the country.
Captain JERVIS replied to Mr. Osborne upon certain
technical points, contending that he had exaggerated the
expense of the works.
Sir G. LEWIS observed that the main argument of Mr.
Osborne turned upon the question of invasion ; he had said
there was no reasonable ground to dread it, and that any
security against it was therefore superfluous and a waste of
the public money. He (Sir G. Lewis) was at issue with
him upon this point. His belief was that an invasion by
one country, with a powerful fleet, of another was by no
means a difficult operation. We had never found any
difficulty in landing troops in a foreign country. But these
works were only intended to defend vulnerable points—
laces to attack,—our
P which it was important for an enemy
dockyards and arsenals. As to the garrisons, it was not to
be supposed that the whole of our coast would be simul-
taneously invaded.
Sir F. SMITH reiterated his arguments against the for •
tificaticns, urging the suTension of the works in order that
further time might be had for consideration.
Lord PALM ERSTON said that there was nothing in
Mr. Osborne's speech that had not been urged over and
over again, and as often answered. He had argued that it
was impossible for this country to be invaded, and that
these works were of no use. Such an argument might be
maintained at a dinner party or a club, but it was unworthy
of a sensible man in that house. Nothing Was more easy
than an invasion unless there was on the spot a large fleet,
or an army as strong as the invading force, and this we
could net be sure of. It would be worth while for an enemy
to sacrifice a great number of men for the destruction of
our dockyards.
Mr. COBDEN, after referring to a former debate, in j
Which )ae said he had been flatly contradicted by Lord