The Sun.
London, England, 1853-06-01 00:00:00

THE SUN. LONDON, WEDNESDAY EVENING-, JUNE 1863.

the stripping away of the glazings, or the taking
off the dirty, coat of varnish. Hearkening be-
nignly, moreover, to all this with a delightful
presentiment, or rather, we should say, with a
pleasant conviction, that the chief good to be
derived from the whole inquiry will be the compi-
lation of a Report to be ultimately stowed away
with the rest of our lumbering lore of blue books
for after consultation.

MONEY MARKET AND COMMERCIAL
INTELLIGENCE-(THIS DAY.)

ELECTION OF CITY CHAMBERLAIN

CITr, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 590 were taken
for export. The market was firm, and closed with-
out alteration in prices. The sales comprised
4,000 American, 120 Pernam anclMaranbam at 7d.,
400 Bahia at 6d. to 7/(1, 500 Egyptian at 7id. to
Btd., and 700 Surat at 3111. to 30. per lb. Rail-
way shares dull, and the quotations generally
lower.

DECLARATION OF THE POLL—(THIS DAY.)
The Livery of the City of London assembled in the
Guildhall for the purpose of hearing the numbers polled
by each candidate for the office of City Chamberlain.
Shortly after one o'clock the Lord Mayor and Court
of Alderrnenentered on the platform, accompanied by Sir S
John Key, Bart., B. Scott, Esq., the unsuccessful can- 2
didate, Alderman and Sheriff Carter, Alderman Wire, &c. 3
Mr. Sheriff CROLL then announced the numbers to ba—
For Sir John Key 3185 2
• For Mr. B. Scott 2914

The winding-up of the Nova Scotia Mining Com-
pany is an event that ought not to be passed by
without some notice from a public writer, and if
the press upon these occasions exercised its
vocation with more wholesome severity, we might
not again have to record such a disgraceful
concoction as the " Nova Scotia Mining Company."
When this notable scheme was first ushered

Majority 271
and declared Sir John Key to be duly elected. (Loud

cheers.)
Sir JOHN KEY, Bart., then came forward to address
the Livery, and was greeted with the most hearty cheer-
ing, which having somewhat subsided, he said that the
official declaration had announced to them that he was re-
turned by a majority of 271 to be their Chamberlain.
He sincerely thanked all present for their assistance
during the contest which had terminated. He would do
all in his power to increase the wealth of the City. It
would be his duty to promote the happiness of all mem-
bers of the Livery. (Cheers.) If in the heat of the con-
test any one word had been said wrongly by him, be
apologised ; and it should be his aim to create for the
future a feeling of unity, harmony, and goodwill through-
out the City. (Loud cheers.)
BENJAMIN SCOTT, Esq., then addressed the meeting.
He said he hoped that although he was the defeated can-
didate, he was not the disgraced candidate. (Cheers.)
He had had the votes of 2,914 of the Livery recorded in
his favour. He trusted he had carried on the contest in
an honourable manner. (Hear, and Oh, oh.) There
were two reasons for his coming forward, viz., the
friends who signed the requisition thought that their
should be an unrestricted choice made by the Livery.
He would not say a word against the corporation, for he
respected every member of it (oh), and they must all know
that when he came forward there were gentlemen, not
belonging to the Corporation, canvassing the Livery.
(Hear, hear.) He hoped this would do away with all
those statements that it was a piece of presumption on
his part to come forward. (Hear, hear.) He only
aspired as all young men should aspire. (Cheers.)
There were many gentlemen in the Corporation who had
risen to the high honours of aldermen, sheriff, and lord
mayor from humble origin and by their own perseve-
rance. (Cheers.) After some further remarks, Mr.
Scott retired amid great applause.
Several gentlemen having addressed the Livery . the
meeting dispersed.

'orth to the public, it was distinctly stated
.n the prospectus that the investigations made
into the value of the minerals placed it beyond

the possibility of doubt, and yet with the names
of some of our most respected merchants at the
head of the prospectus, as vouchers of this assu-
rance, we witness within a few weeks the utter
falsification of all that was asserted, and the dis-
solution of the Company. At least, if no benefit
is to be derived in regard to this particular concern,
by a reference to the past let us hope that it may

constitute a warning for the future.... No board of
directors is justified in enticing the public to
subscribe to a new project without having first
instituted the necessary local inquiries, and caused
the fullest surveys to be made by its own agents.

In the present instance these measures were only
adopted after the money was subscribed, and it is
not enough now to take credit for the return of

the capital, intact, and the payment of the
expenses by the Board itself, but we have to con-
sider that hundreds of persons relying upon the
accuracy of the statements made, purchased its
shares for investment at a high premium. What
comillisation can it be to these parties, whose
shares cost them '7/. or 81., including the deposit,
to have 51. returned to them now. It may be very
well to assert that if persons buy at a premium,
they must take the consequences ; but is there no
moral responsibility attaching to the names of our
men of business, that will render their word as
good as their bond If not, there is an end at
once to all commercial confidence, and the sooner
this fact is understood the better. As to the sur-
veyors, who certified to those inflated opinions
about the value of the estates, their conduct is so
flagrant that it is positively unfortunate that the
law could not be put in force to reach them. If a
man errs from ignorance he should be peculiarly
liable for the injury he inflicts, and if he delibe-
rately deceives, something more than a simple fine
should be the penalty. In bringing out these
new companies there are always ample means of
jobbing in the shares, so as to afford a profit upon
upon mere time transactions, and we fear that it
is this which prevents the natural indignation of
original shareholders from obtaining expression at
public meetings. Some speculators are interested
for a fall, and others for a rise, and amid the contest
the less experienced and more confiding subscriber
falls to the ground. Among the bubbles of the
year 1853, and they were not few, the " Nova
Scotia Mining Company" stands pre-eminent.
As was natural to expect, the voluntary " con-
version" will be at a stand-still while politics and
money are lowering and tight. The " assents" at
the Bank of England became " fine by degrees,"
and the opponents of the Chancellor's scheme
exult in what they term his failure. When
we consider, however, that cash now is in
active demand at Three per Cent., we cannot
feel surprised at the absence of any inducement
to convert, if parties look simply to the moment.
There is, however, a class of persons who should
look more to the permanency of an investment, and
if affairs settle down before October there will be
still a large number willing to receive new stock.
Even if two or three millions of Two-and-a-Half
per Cents. are taken, there will be a market
created, and their very scarcity will be favour-
able to the price. The Lord Chancellor, it
appears from what was stated last night
in Parliament, has not even yet made up his mind
as to the security he will take, but we doubt
whether the hostile advice of my Lord St. Leon-
ards to demand cash, and lay out the proceeds in
Consols or Reduced, will have any weight, as being
either patriotic or wholesome. The fact that all
funded securities rise and fall nearly in pro-
portion is quite a sufficient bar to carrying out
his lordship's policy. Concerning the renewal of
Exchequer Bills, there is much difference of opinion.
Some say the demand for payment will be very
limited, others that it will be very -considerable,
• and that the East India Company takes as much as
a million sterling. What is to be done with the
proceeds we shall curiously wait to see.
English Stocks are very flat to-day, and about
-I- to per cent. lower. Consols 100 to for Trans-
fer, and 1001 for July. The settlement of the
Account progresses without difficulty. The New
Aree-and-a-Quarter per Cents. are 102 to *, and
the Three per Cents. 991 to Bank Stock is firm
at 230. Exchequer Bills are ls. discount to 2s.
premium, and India Bonds 255. premium.
Foreign Stocks are mostly heavy. Mexican
bring, however, 26 to 1, being firm, owing to the
formation of Santa Anna's Cabinet. Venezuela
Bonds have been at 38. The following has been
received by the Spanish American Bondholders
Committee :

" The Senate and Chamber of Representatives of the
Republic of Venezuela in Congress assembled.
" Resolved, Congress authorises the Executive
power to take all necessary measures for settling
the foreign claims for interest due on the foreign debt, '
and those debts originating from the law of Espera,
of the 29th April, 1849, which require peremptory set-
tlement.
" Given at Carhcas, the 30th April, 1853."
New Grenada promises to make fresh arrange-
ments. Spanish Bonds are rather lower.
Railway Shares are down generally f to A per
cent. The Midland have been flatter, and at one
time were 10s. to IL lower. Great Northern also
have suffered 10s. to 11. • The French Lines have
been about 10s. lower for the Northern, and 10s.
to 15s. for the Lyons and Strasbourg. Upper
India Scrip has been higher, having realised 11
premium.
The Gold Mine Shares are all weak, with very
little inclination to buy ; but Agua Fria, Ave
Maria, and the other Californian companies reman
about the same.
The Joint-Stock Bank Shares are giving way
with hardly an exception, but the new companies
are most depressed.
The Land Companies' shares continue on the
decline.
The quotations of some of the shares not yet in
the official list, are as follows :—Berlin Water-
works, to premium. Central of France Rail-
way, 4to 11 premium. Metcalf Mine, 61- to 174
premium. Jamaica, 3 to 4i premium. Sue River,
Ato premium, and Port Royal, l to 1g premium.

BILITISFI FUNDS THIS DAY.
( From the Official List.)
'Business done.
. 230
99 3 19
100k}100; 99,
102}1

Bank Stock
3 per Cent. Red-aced Annuities
3 per Cent. Consols Annuities .
New 3/ per Cent. Annuities
India Bonds, £lOOO .......
Ditto, under £lOOO
Consols for Account July 19
Exchequer Bills, 10.
£lOOO

~ 25
~ 1001 i 100

1a 2p par
1 d 2 p. par
1d 2 p par
3 1 d

£5OO
Small
Ditto Advertised

PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian 'Bonds, 5 per Cent
Ditto New, 1853, 4 per Cent 9Bl fl x a
Milan Bonds, 6 per Cent..
Equador Bonds
Grenada Bonds, Deferred
Mexican 3 per Cent.
Peruvian Scrip par
Ditto for the Account GO
Russian Bonds, 5 per Cent.
Ditto for the Account llBa
Ditto 4. per Cent.
Spanish,Bonds, 3 per Cent 4B i 8
Ditto New Deferred, 3 per Cent 23} 3 i
Ditto Passive (Converted)
Swedish Loau ....... ........... 1 i I
Venezuela Bonds, 3, per Cent. ............... 38
Dividends on the above payable in London.
Dutch Exchange, 21 per Cent.
Ditto for the Account .
Dutch Exchange 4 per Cent. Certificates 96
Ditto for the Account 9si;
THREE O'CLOCK
on i
100

Consols
Ditto July Account

The Marquis and Marchioness of Londonderry have
left town, for the baths of Hombourg yid Paris, in
which capital the noble marquis and her ladyship con-
template making a brief sejour.
A STRANGE CASE.—Mrs. Wilkinson, of Eynesbury,
near St. Neot's, completely lost her sight 25 years
notwithstanding the best medical aid. About six weeks
back she accidentally fell down stairs. Fortunately
she sustained no injury from the fall, but the shock
occasioned by it seems to have led to the recovery of
her sight. A day or two after this accident occurred
Mrs. Wilkinson fancied she could see a little, and so
stated to her husband. At first he was, naturally
enough, inclined to doubt the fact ; but her sight daily
grew better, and she is now enabled to distinguish
colours, and to see pretty well. The joy of Mrs. Wi!-
inson, and the different members of her family, may be
well imagined. A son, 23 years old, she has just been
enabled to look upon for the first time.—Lincoengirc
Oronicle.