The Sun.
London, England, 1853-02-10 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two o'CLocx.
The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, of which 1,000
American were taken for export and 500 on specu-
lation. The market closed heavily—American
under 5/d., were in some cases nearly /l per lb.
lower. The sales comprised 4,000 American, 250
Pernam and Maranham at 6i-d. to 7d., 200 Egyp-
tian at 61d. to 70., 500 Surat at 31d. to 4.0.,
and 100 Sea Island is. Bd. to ls. 9d. per lb.
The railway share market opened flat, but closed
rather firmer.

The six weeks' average price of wheat is 465. par,
and the sales of the past week, officially reported,
are 99,266 qrs.
Accounts from Russia state that a new law, re-
gulating the employment of children in factories is
coming into operation. After May next, 10 years
will be the lowest age at which children can be em-
ployed, and in May, 1855, none under 13 years,
and then only for seven hours daily, until they
reach the age of 14 years. There will be three
hours daily devoted to instruction.
The agitation produced among the speculators ant
others in the city by the intelligence received from
Milan causes a revival of discussion as to the present
condition of the money market, and there is certainly,
so far as our observation and inquiry extend,
not the slightest cause at present for further action
on the part of the Bank of England. This day the
Directors of the Bank of England separated after
their usual weekly meeting, and as we anticipated,
have made no further alteration in the minimum,
rate. Looking merely to the surface of things, a
contrary conclusion might be arrived at ; but, al-
though the demand for money is steady at from 2i
up to 31 per cent., according to the character of the
bills offered, and the date they have to run, we should
say that the banks generally have sufficient capital
to supply applicants for several weeks, even should
there be no Australian arrivals, without charging
more than they do at present. Of course, if bul-
lion leaves us steadily, and nothing returns, as a
mere matter of business, there will be more asked
for temporary loans, upon the ground that it is
necessary to check speculation. There is not the
slightest cause for action on the part of the Bank of
England. Everything at the present moment looks
dull, and rather tonds downwards than otherwise,
although the demand for various staples to be con-
sumed immediatelyris most healthy. The large em-
ployment of our population in the manufacturing
districts is sufficient cause for this. Speculation
for higher prices is at present perfectly harmless.
A little has been done in cotton, and that is almost
the only article that has been taken for " time."
The public sales of wool commenced to-day, and
these will absorb some amount, those of indigo being
also in progress will temporarily attract capital, but all
these channels are sources of prosperity to the coun-
try at large. If the Bank were to administer a
further " corrective," as some parties would call
it, by applying the screw, there would be danger
of exciting a feeling of alarm which it might not be
easy to allay. In the Stock Exchange this morn-
ing cash is plentiful, at 1 per cent., and
even less, notwithstanding the settlement of
the account. The steamer Harbinger, to Austra-
lia, takes out a considerable amount of bullion, not
yet precisely ascertained, but probably upwards of
400,0001. This includes, we believe, the prelimi-
nary capital of one of the new Australian Banks,
and is therefore a special case. The Mining Com-
panies also are sending out funds to extend
operations with. In the meantime we are daily
expecting very large sums, not only by the steamers
that are nearly due from Port Philip, but likewise
by the Roxburgh Castle and other sailing ships.

The settlement of the account in Consols has en-
grossed this morning the principal share of atten-
tion, and fortune, as upon so many previous occa-
sions, has favoured the " Bears.' The tendency
of prices was upwards until yesterday morning,
when the Milan news was received, and this im-
mediately checked the " buying back," and ren-
dered the borrowing of stock more facile. On
the other hand, probably, parties who had in-
tendel to take up stock may feel timid, and
defer so doing for the present. In no other way
can be explained the easy settlement after the
recent heavy speculative sales. The weather this
morning is calculated to aggravate the feeling of
uncertainty that prevails, and the general topic of
conversation is the possibility of a renewed and
general insurrection throughout the Continent.
Whatever may be thought of the chances of suc-
cess in such case, the mere apprehension is against
an improvement in values. Consols have been at
991 and since at 99i 1 for transfer, the quota-
tions for March being 99f The new 3i
per Cents. have been done at 1031 to f,
and the Three per Cent. Reduced Annuities at 100
to k. Exchequer Bills of March have realised 535.
to 575. prem.
The Foreign Securities have been comparatively
neglected. The Swedish Loan is worth only
discount, and the Turkish has not been lower than
I discount. Grenada Deferred Bonds have been
per
evlre2cob lee
nefnto
.r at
Rt helenolt3fte.i
Renter
Five
havepues r-
as_,lll%alft
per the exchange e
n tCents.
baye atb e2esn2aot.
981, and Dutch Fourper Cents. at 97i tot; Austrian
Scrip has not felt the slightest influence from the
Milan insurrection, being 8 premium.
The Mining share market is steady, and at
previous rates ; the Colonial, Mexican, and South
American, and British Australian Gold, have been
in some request.
be
The shares of the Australian Land Companies
ataea
ennnit Fivessßelgian.
tooneFaTekophduhaeeerra:_FslaC;bnneBeeednne2:cun. :BaotTnonilly2dreeossethierday's prices. Brazi-
lian
are nominally rather flatter, but British American
Land are very firm. _

In the Australian Bank shares there is nothing
doing.
The last week's railway receipts ascertained up to
this day, are in round figures as under :

1853. 1852.
Great Western 17,039 16,041
North Western 44,125 41,302

South Western 9,831 8,734

Brighton
Midland
South Eastern
Caledonian

Great Northern

9,091 7,861
22,009 20,233
11,768 9,701
8,537 7,766

13,552 10,837

Lancashire and Yorkshire
York and North Midland
Newcastle and Berwick 13,788 13,276

Railway shares, generally, have been good this
morning, and in some cases mark higher. Eastern
Counties are in request, and also Lancashire and
Yorkshire, North-Western, and York and North
Midland. French shares have been heavy within
the last half hour. The East Indian lines keep in
favour.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY.
(Bunn the Officia/ List.) _

Business clone.
3 per Cent. Reduced Annuities..
3 per Cent. Consols Annuities
New 31 per Cent. Annuities.
Long Annuities, Expire sth Jan., 1860 6 7-16 a
Consols for Account 10th March 99i 4
Excheauer Bills lid. March. June.
£1000;. 56 7 3
£5OO —
Small 53 7

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.

Austrian Scrip, 5 per Cent 8
Brazilian Bonds, 5 per Cent.
Grenada Bonds, Deferred,
Russian Bonds, 5 per Cent.
Ditto, 4i per cent lO3l
Swedish Loan ll d
Turkish Loan, 6 per Cent., 1852 A d
French Rentes, 3 per Cent
Belgian Bonds, 41 per Cent. Ex. 25fr. 9Bl
Dutch Exchange 21 per Cent 65
Ditto 4 per Cont. Certificates....,.... ~.
HA LI-PAST TWO.
Consols
Ditto March Account 9

The accounts from the Continental Bourses to-day
were generally satisfactory. The telegraphic quotations
from Paris showed that the news of the Milan insurrec-
tion had made no impression upon prices. From St.
Petersburg the dates are to the Ist inst., when the rate
of exchange was again more favoUrable for this country,
the quotation being 38d. 13-16 to i. Some consider.
able portion of the gold sent from London had also yet
to arrive. At Vienna yesterday the money market re-
lapsed to its former state, the intelligence of the pre-
vious day regarding some probable adjustment of the
Montenegro question not having been confirmed.—
Times.

THE FRENCH EMBASSY.—His Excellency the Count
a ,nd Countess Walewski are expected to arrive at the em-
iassy in Grosvenor-square to-day, from the French capi-
tal, where the count has been staying some time on
i mportant political business relating, it is understood, to
t he "ministerial question." The personnel at the French
h 3gation now consists of M. E. Baudin, chief secretary,
A. I. de Saux, second, and MM. Demon and de Viellur,
at, 'aches to the legation.
NFGH..tir Wousx.—They tie a black handkerchie
rom id their heads over their caps. They divide
the hair over their faces, and plait into two locks,
which fasten at the back of their heads. Their orna-
ments are. strings of Venetian sequins, worn round
their herds, and chains of gold and silver, which are
hooked up over the forehead, pass round the head, and end
in tv ro large balls, which hang down near the ears. Ear-
pend ants and rings on the fingers are also worn, as are
pen& ints in the middle cartilage of the nose, which was
formerly the custom in Persia and is still in India and
Arabia. Such is the dress of the married women ; the
unmans ed are distinguished by wearing white trousers,
and by,‘ having their hair i?ose.-9rienta/ Costume.

LAW INTELLIGENCE-(THIS DAY.)

COURT OF QUEEN'S BENCH.

(Sittings at Nisi Prius at Westminster, before Lord

Campbell.)

THE QUEEN V. ORCHARD AND COX.-THE JUDGMENT OF

THE COURT.

On Tuesday last, the defendants, William Henry
Orchard and George Cox, were found guilty on an in-
dictment charging them with having conspired together
to defraud a person named Rackstraw, and also to de-
ceive and defraud the Court of Common Pleas, and the
Master thereof; but, on the application of their counsel,
the passing of sentence upon them was postponed until
this morning.

Some affidavits in mitigation of punishment having
been put in and read, Lord Campbell directed that the
defendants should be " called ;" but the criers of the
court, after resounding their names throughout the pas-
sages and hall, informed his lordship that they were not
in attendance.

Lord Campbell said he had now to discharge
the painful task that devolved upon him, namely,
the pronouncing of judgment on the two defendants
who had been convicted of conspiracy to defraud. They
both belonged to an honourable profession, and might
have reputably maintained themselves and their families,
had they been so disposed ; but the judgment which was
about to be pronounced would not only disgrace them,
but materially interfere with their progress in life. They
were indicted for conspiracy to defraud the defendant in
an action in which Orchard acted as the plaintiff's attor-
ney, and in which Cox assisted as Orchard's clerk ; and
the specific charge against them consisted in pretending
that they had paid to certain witnesses for their attend-
ance sums of money which they had never paid, and
which they intended to appropriate to their own uses.
That accusation was brought home to them by
the clearest possible evidence ; it was shown that
the means by which they carried their object into effect
were perjury and fraud. The affidavit stating that the
sums in question had been paid to the witnesses was
sworn to by Cox and Orchard, who well knew at the
time that the allegations it contained were entirely false.
The one, therefore, was guilty of perjury, and the other
of subornation of perjury. In some instances they suc-
ceeded in cheating witnesses of the whole of the allow-
ance made to them by the master, and in others they
pretended that the allowance of the master was smaller
than it actually was, and it appeared that it was their
intention to divide the money thus improperly obtained
among themselves. A case involving such a complica-
tion of perjury and fraud was seldom, if ever, seen in a
court of justice, and he was shocked to observe the reck-
lessness with which the defendants had proceeded, for
it would almost seem, from their conduct, that they
were wholly unconscious of doing what was wrong.
The sentence of the Court for these offences was, that
Orchard be imprisoned in her Majesty's gaol of Newgate
for the term of six calendar months, and that Cox, who
was a younger man, and only an articled clerk, be im-
prisoned in the same gaol for three calendar months.
He trusted that the punishment thus inflicted would
operate as a warning to others not to engage in similar
disgraceful proceedings.

SURREY SESSIONS.-(THIS DAY.)

TOO FOND OF MUSIC.

James Phillips, 34, was indicted for stealing a con-
certina, value 21., the property of Thomas Fisher, musi-
cal instrument manufacturer, Great Charlotte-street,
Blackfriars-road.

Prosecutor stated that, on Friday morning last, a little
before nine o'clock, he took down his shutters, and
shortly afterwards entered the back room to partake of
breakfast. While there, he heard a shuffling noise inside
the shop, when he looked round, and perceived the pri-
soner close to the window, and about to leave the shop.
Witness instantly rushed out of the room, and seized
hold of him, when he found under his coat a concertina,
which was, a minute or so previous, safe in the window.
The prisoner endeavoured to get away from him, but a
constable came up and secured him.
The jury found him guilty, and the Court sentenced
him to six months' hard labour at Wandsworth House
of Correction.