The Sun.
London, England, 1831-05-23 00:00:00

THE GREAT DEFAULTER.

(From the Times.)
One of the largest falures which has occurred at the
Stock Exchange for a long time, took place this morning
(Saturday). It has been caused by large speculations for
the fall of Consols, and also for the rise of Spanish stock ;
in the former of which the broker in question is said to be
a defaulter for about 45,0001., and on the latter for about
5,0001. His account in Consols is believed to be little, if
at all, under 1,000,000/.
The fluctuations in Consols which took place to-day
(Saturday) are to be ascribed chiefly to the effect of this
failure in the market, as many of the brokers who were
connected with the defaulter were obliged to purchase
stock, or otherwise to prepare for the fulfilment of their
own contracts with others, while many entered into new
speculations on the consequences of the failure. Consols
opened at 831, fell to 821, then rose again to 83-a ; and
after some further fluctuations of less importance, closed at
S2i to s for the account. Exchequer-bills closed at Ss.
which fell suddenly about
to 9s. premium.
and left off, having partially recovered, at
The foreign market has maintained great steadiness, with
of Spanish stock,
the business, at 15i to 16. The others are all
firm, and quoted, for the most part, though uominally, at
higher prices.
(From the Morning Horald.)
onetthh ee closeeple cr ecP nfi et

A great It failure in
speculated the Stock
for L x a
fall -
change.is said
d hasth at occurredale
insolvent to-day
has
to the amount of nearly one million of Consols, besides
considerable sales of Russian and other foreign stock. It
is believe that the differences will amount to between
50,000/. sad 60,0001., to meet which he has balances in
band to the amount of six shillings and eightpence in the
pound. The defaulter, it seems, was the leader of the
Bear, alias the borouzlimongering party, who like Sir
Robert Peel, flattered themselves that the Reform question
would destroy public credit, and render the Funds almost
valueless. Poor creatures! They have been reckoning
without their host; and, instead of pocketing, as they ex•
petted, large sums of money on their prognostications of
ruin to the country, will have to pay large sums, as a just
punishment for their base and iniquitous designs. This is
another terrible blow for the gang. They have failed alike
both as peculators and politicians. We have no doubt
that many of the subscribers to the Charles-street Fund
flattered themselves that they should make mere than they
gave by gambling in the public securities. A Sunday
paper, the Observer, remarks that the failure alluded to
“created so much consternation as, for a short time, com-
pletely to paralyse the transactions. The individual inca-
pacitated from meeting his engagements is Mr. George
Battye (lately of the firm of Trower and Battye,) whose
credit, from the respectability of his connections at the
West-end of the town, was, for the most part, unbounded.
He was, in fact, and has been for some months past, the
leading man among the speculators for a fall."

The Managers of Drury-lane Theatre are
preparing for representation another version of the event-
ful life of NAPOLEON BUONAPARTE, which is intended to
be produced for the first time on Monday next. Its chief
incidents, in three parts, will be founded on BUONAPARTE'S
acquirements while he was at the Military School at
Brienne, the Bridge of Lodi, and the entrance of the Al-
lied Armies into Paris. Mr. WALLACK will on this night
take his benefit, and, we understand, will personate Btio-
NAPARTE in the historical drama. We heirtily wish him
a full house, to which his theatrical talents so fairly en-
title him