The Sun.
London, England, 1838-03-23 00:00:00

WOOL SALES,

Last night the first public sale of Colonial Wool commenced at Gar-
raway's. The attendance of the trade was large, and amongst them
there were buyers from the Continent. The biddings were spirited, and
the commodity sold at firm prices. It is yet too early to glee quo-
tations.

LIVERPOOL COTTON MARKET.
The tralisaCtions ettbeted in Cotton at this day's market amount tO
4,000 bags. The trade continues dull, and middling (Mantles are sel-
ling at 04r rodueed quotations of this day fortnight. 700 Bahia, 71d, ;
2,000 American, 5 Nd. to Bd. ; 2iio Surat, 41d. to sd. ; 150 Pernaln,
ty. to tid,

(From the Morning Papers of this day, Friday.)
TimEs.—The report in the foreign house was, that the
Dutch Five per Cents, were to be paid off or converted into
stock of a lower denomination, which would account for the,
prices of that stock not having advanced rateably with the
Two-and-a-Half per Cents. The real cause of the late rise
is still unexplained, but the transactions in these securities
continue to be very active, the Five per Cents. closing at
1031 to 103 k ; the Two-and-a-Half per Cents. at an advance
to 54i to 155 ; Bracilian also improved, and are quoted at
79- to 80 ; Mexican, 28 to 28?,-; Colombian, 281 to 29 ;
Spanish Actives were 2q-3 to 21i; the Portuguese Five per
Cents., 30 to 301; the Three per Cents., 20 to 201.
The share-market was heavy. An extraordinary fall took
place in British Iron from 37i. to 281. per share, owing to
the unfavourable tenour of the proceedings in the House of
Lords to-day in reference to the appeal in the great cause of
" Small v. Attwood," in which the summing up of some of
the law Lords was adverse to the Company. The prices ral-
lied at the close to 31 to 33, in consequence of the view
taken, other Peers being more favourable. Such was the in-
terest excited on the Stock Exchange by this cause,' that ail-
vibes in each stage of the proceedings were brought down
regularly, and speculations entered into accordingly. Lon-
don and Birmingham Railway Shares were f. 15 to 7; Great
Western, 2G to 71 ; Brighton, 2 to -1-; Blackwall, 21 to 3
premium.

By tLo Ariw, which sailed from Lima on the 12th of Dec.,
papers have been received containing a copy of the treaty of
peace concluded between the Peruvians and Chilians on the
17th of November at Paucarpata, subsequently ratified by
Santa Cruz on behalf of the Peru-Bolivian Confederation.
The Chilian ratification, when approved by that Government,
was to be dispatched to the port of Arica within fifty days
from the date. The conditions of the treaty appear to be
moderate and equitable for both sides. The Chilians were to
restore the three Peruvian vessels carried off from Canoe, and
their army was to retire within six days to Quilea, whence it
was to re-embark for Chili. Commercial treaties were to be
contracted between the different states of the Peruvian
Confederation and Chili, by which each was to be placed
in the ports of the other on the footing of the most fa.
voured nation. Chili was to interpose its good offices to
promote peace between Buenos Ayres and Peru. The
most interesting part of this treaty to the public here,
however, conskts in the acknowledgement of a debt
in favour of Chili of 1,500,000 dollars, being that part of the
Chilian loan contracted here which was appropriated to the
equipment of the expedition by which, under San Martin,
Peru was rendered independent of Spain. The Peruvian
Government binds itself to reimburse the sum stated, on the
same terms and at the same dates at which Chili may arrange
for redemption of the capital of that loan—a s-,rt of satisfac-
tion of a very vague nature for the bondholders here. The
dividends overdue and upaid are to be paid also at such dates
and in such manner as may be convenient by Peru, so that
Chili may be enabled to do justice to her bondholders. Such
portion of the dividends already paid by Chili which falls to
the share of Peru is to be repaid by the latter in three instal-
ments, the first in six months after the Chilian ratification of
the treaty, the second at the end of 12, and the third of 18
months, from that date. The treaty to be placed under the
guarantee of Great Britain, whose consent was to be solicited
by both the contracting parties.

'ORNING POST.—The letters received this morning from
Liverpool made no mention of the art ival there of the packet
ship Englan,i, from New York., It appears, however, that
advices of three days' later date have been received from that
city by the way of Paris. They are supposed to have come
by the Havre packet of the Ist instant (the Francis.) We
learn from the contents of these letters that the restrictive
system adopted by the Banks, preparatory to the resumption
of specie payments, had been productive of several commer-
cial failures at Boston. Three or four considerable houses
had been reduced, from the want of the usual accommoda-
tion, to suspend payment, but the friends of the parties had
come forward, and arrangements were in progress which would
enable them at an early period to resume. A meeting of the
Bankers and merchants had been held previously to these
stoppages, when it was distinctly stated by the latter that if
the determination on the part of the former to withhold their
assistance to the commercial interests were persevered in, some
serious failures would be the inevitable consequence. Re-
monstrance was, however, unavailing ; the same mischievous
policy was continued. The intelligence obtained from the
United States, via Liverpool, is so uniformly in advance of
that received through any other channel that the facts we have
noticed arc mentioned incidentally, as it were, in a postscript,
and no doubt being entertained by the writer of later accounts
having reached London in the ordinary way nothing is said
upon any other matter of importance.

MORNING CHRONICLE —The Share Market generally is
still languid, and the chief business transacted to-day has been
in the British Iron and Asphaltic Mastic Companies, the
former being last quoted at 31 to 32 per share, and the latter
at 11 to 13 premium; Birmingham old closed at 85 to 87 pre-
mium ; ditto new, 26 to 27 prem. ; Southampton, 43 to 44
per share; ditto new, 19 to 20 prem. ; Great Western, 96k
zdvoafneDedutch
duringse-
to 271 prem. ; Brighton, 21 to fl prem. ; Blackwall, to 5
prem. ; North Midland, 51 to 61 prem. ; Manchester and
pcuercnhtsa.sea
Birmingham, 31 to prem. ; Birmingham and Derby, 2to 1
dis. Croydon, 11 to 1 dis. ; ditto new, 6to 7 prem. ; and
Greenwich, 3 to 2 dis.
1, but when the inve- tments were effected
flagged, and they left off at 54.3- to 551. The
per Cents. was 1033- to Brazilian
someo-an dm- ao-r lel all large
r peer
There has beenT%T
Ittcal
luiseerti
market
pi
aerayisre,ket andeoot
of the
04tcet
o Five
e
are again higher, but in others there is nothing particular to
notice.
coming
forward appears that the Government of Belgium is also
forward for another loan, and to the enormous amount of
100,000,000 francs. It is positively nothing short of insulting
to us as a nation that these comparatively insignificant poten-
for any amount of money which may be wanting for
fates should think that they have only to send over to " those
keeping
an army and wasteful establishment, and which
would have to be diminished or disbanded unless fed, clothed,
paid, and supported with the proceeds of these repeated
English loans. The Belgians have now raised two different
egpliins
loans within the short period which has elapsed since the sepa-
ration from Holland, and in addition are to take, according to
the stipulations of the treaty for the settlement of the question
between the two countries, the sum of 24,000,000/. as their
portion of the Dutch national debt. For so small a country,
and with expensive institutions to support, it is clear that Bel-
gium is already involved in debt to an amount far beyond its
'irleans to repay were even the separation from Holland con.
pleted, and the army in consequence considerably reduced.
That Belgium is superior to Holland in future resources is
certainly very true; but the Belgian manufactures are yet
in little more than infancy, and so far inferior to those of
England that in a petition of the manufacturers of Ghent it
was stated, we recollect, that the duty of 40 per cent. was in-
sufficient to enable them to compete with the English, and
praying for prohibitory duties as the only means of relieving
their distress. The manufactures of Belgium are, therefore,
ofit
littleamount in estimating the resources of the country,
and also to be borne in mind that this loan, like its pre-
decessors, is merely for the purpose of keeping up tho army,
and will necessarily be unproductive in every respect, and so
much money, in fact, almost thrown away. It is, therefore, to
be hoped, that this proposal for a new loan for Belgium, will
meet with no encouragement on the London Stock Exchange.
Overland dispatches from India have come to hand, bring-
ing advises from Calcutta to the 15th, and from Bombay to
the 08th of January. In a political point of view they are
wholly unimportant ; and, as regards commercial matters, it
y
ose.eai
Irndog.ldd u.
T 1
tl
ea, ns
rd. a
tit
el edo.rpp
exchange
cer
hus
geue;cl:
onntdh
iea,
tosame
baaas
yt
,vcch
Caen uNt Nt'
ae
is stated that there was scarcely any change, business gene-
lc
o
wlast
l
Is. 10d.
to le. 10Id. per rupee.

MOANING lIERALD.—By the overland mail from India, via
Marseilles, we have received advice' and papers from Calcutta
to the 16th of January, and from Bombay letters to the 28th
of that month. They were brought by the Hugh Lindsay
to Suez, where she arrived on the 27th of February. The
Berenice arrived at Bombay with despatches from England
to the 113 d of November on the 21st of January, and the
Atalanta was to leave Bombay for Europe about the 28th
of February.
The letters from Bombay state that there was no alteration
in the state of trade there ; business in produce continued
flat. The exchange on England was Is. 10d. to Is. 101 d. at
six months, and Is. 9d. to Is. 10d. on bills at three months.
Freights were 21. 103. to 31. 103.
The Calcutta papers state that it was apprehended that the
Burmese had not of late been so settled ; that in fact they had
manifested a disposition to attack the British settlement at
Moulmein. This report is founded upon information received
from thence by way of Rangoon, which states that at a festival
given by the Burmese Governor of Martaban, a town opposite
to Moulmein, his followers sang songs in deprecation of the
British authorities, and that the Governor boasted that he
would take Moulmein. It was not, however, generally be-
lieved that this threat would be attempted, much less carried
into execution. A report had also reach Calcutta from
by •of Rangoon, that t the King of the Bur-
mese intended to acknowledge the British treaties; but it was
Koukmong, way
angoon, a
feared that the intelligence from Calcutta, which would then
soon reach the Burmese King, would do mischief, as it was
reported in that city that the Governor-General did not much
regard the King's disavowal of the _treaties, as the timilest)
had committed no aggression, and at that period the Go-
vernment was of opinion that there had been no cause of
quarrel with the King. It was reported in the railitE9l
circles at Calcutta that there had been a diapute At Agra
o 'nf
n Chaertd lliegil anyn n t
between the brigadier commanding- that z,tation and the Earl
becani.a his 11,or4s1Aip did not report himself,
the general ()flers, to the Commanding
Officer; but it was apprehended that nothing tending t 9 in-
sult the Commanding Officer At that ztattp-i waa meant by his
Lordship, and that the atfdtr would he arranged ; but it was
&04 that; iq egnsclueAce Qf %ilia j2f Gil qf Okisteli tk

gadier: refused to parade. the European :regiment, at 11;s
Lordship's request. A very large meeting, which w"
attended by many influential persons, amongst whom was th '
Lord Bishop of Calcutta, was held in the Town Hall of Cal-
cutta, on the 4th of January, to adopt measures to promote
steam navigation between India and Europe more efficiently,
Petitions and memorials to the Government at home and the
East India Company were adopted, and numerously signed,
which by this time are on the route.to this country. The
state of commercial affairs at Calcutta continued very gloomy.
All kinds of produce continued low, and opium difficult of
sale, but there was a little demand for British long cloths for
tile China market. The Exchange on London for Govern-
ment bills at a 0 days, was Is. 10d. a Is. 101 d. per comp.
rupee. Private bills, with documents at 60 days, were 2s. 04d.
a 2s. Id. Bank of England notes were Is. 101 d. a Is. 100.
per rupee. Sovereigns were 10 rupees 7 each. Freights
continued very low.