The Sun.
London, England, 1849-12-19 00:00:00

WEDNESDAY EVENING, DECEMBER 19, 1849

their respective bodies, shall have the power of inter-
ference in all operations necessary for the purpose of
carrying this law into effect—first, taking note of all
documents presented for convewaion ; secondly, making
what they shall consider the fittest arrangement, in
order that the said documents shall cease to be of value
as soon as they shall be exchanged; thirdly, taking
part in debate and by vote with the director of the fund
and the high functionaries named by the Govern-
ment for all emissions which shall be effected belong-
ing to the new debt, decreeing what they consider
most useful for carrying the present law into force;
fourthly, one senator and one deputy signing each
of the new bonds, in which formula each of the
six individuals composing the said commission shall
take his turn.

Art. 13. The conversion treated of by the present
law is obligatory for the Three per Cent. Stock. The
holders of other descriptions of securities may choose
between the conversion and their present condition.
Art. 14. For the payment of instalments not yet
effected for the purchase of national property, if the
payments are to be made in Two per Cent. Stock, an
account shall be struck of the proportionate value of
the old credits, and the rates at which they were
converted, in order that neither the purchaser nor the
nation may sustain injury.
Art. 15. The interest of two per cent. is a tem-
porary measure, in order to effect a settlement of the
debt in a manner conformable with the present
capacity of the Spanish Treasury ; with respect to
which the Government shall give an account to the
Cortes in the following session of the state of the
conversion, and the sum to which the interest shall
amount, in order to effect as soon as possible the pay-
ment of three per cent., the ultimate amount to which
the public debt of Spain is intended to be raised.
(Signed) MANUEL SANCHEZ SILVA.
Palace of the Congress, Dec. 3, 1849.

GEItAIAN Y

AND

THE NORTHERN STATES.

AUSTRIA.

The Austrian Lloyd's says that the King of
SAXONY has granted ,Field Marshal RADETZET, and
Field-Marshals 1-14Trisu and JELLACHICIJ, the Grand
Cross of St. Henry. 'This order, continues the Lloyd,
was founded as a reward for the highest military
services, and such careful selection is made in its dis-
tribution that not even the KING himself is a mem-
ber; and of living contemporaries, the Duke of
WELLINGTON is probably the only person who is at
this moment decorated with it.

The King of Sazortx has insulted the Duke of
WELLINGTON by thus conferring the order of St.
Henry on Pandours and Brigands, and we trust his
Grace will show his sense of the insult by imme-
diately transferring the Saxon decoration to Mr. CAL-
CRAFT, the brother in hemp of the hangman HATNAU,
and consequently the only Englishman who can now
wear it without degradation. The order of St.
Henry is the oldest in the world; the first Knight
CAIN wore its insignia on his brow that all men
might avoid him, the last Knight HATNAU wears the
insignia on his breast for the same reason.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The Cotton Market at Liverpool yesterday was dull
and heavy, and Friday's quotations were barely sup- ,
ported. The sales did not exceed 2,500 bales, all to the
trade.—Railway Shares were flat, at a further decline in
prices.
The letters and papers from the United States and
Canada were delivered in due course this morning.
After all the fuss made about the cotton crop, it is evi-
dent that it will even exceed what we have for some
time past assumed that it would be, and that it will
prove adequate to the consumption of the world; but
this does not or should not lessen in the slightest degree
the exertions requisite to cultivate the staple in India.
The day will come when short crops there must be in
the common course of nature, and an extensive failure
would paralyse the whole of our manufacturing in-
terest. The report before us from New York states:—
" The average date of a killing frost, for fourteen
years past, is the 30th of November. Thus we have
two full weeks over the average date for the growing
season, by throwing off from the calculation all that the
short-crop writers claim as ' last in the spring,' which
we think ample. It is known that the picking season
extends up to the planting season ; and that in conse-
quence of the low prices ruling in February and March
of 1847 and 1848, at least 200,000 bales were left un
picked in the fields, and ploughed down. Now, at
high prices, every thing will be picked out, and if we
have a dry winter and an absence of storms, we do not
see a limit to the crop much under 2,700,000 bales.
This may be a startling assertion to such as have
been operating on the short-crop and early-frost'
stories; but a little sober reflection will show it is
well grounded. The crop of 1847 would have been
2,850,000 bales, instead of 2,347,000, if present
prices had ruled that season. Allowing that the bolls do
not yield as much as that year, and that they are not
as numerous on the bush, which is claimed by these
parties, although we do not admit the correctness of
either assertion, we will throw off 150,000 bales for that,
and yet have 2,700,000 bales, provided the picking
lasts to the Ist of April. From that figure our readers
may deduct the days lost by wet weather, and the de-
struction that we shall hear of by hurricanes, &c., and
we think the crop cannot be reduced, by all these con•
tingencies, more than 200,000 to 300,000 bales, which
would place the final yield, with a bad picking season,
at 2,400,000 to 2,500,000 bales, which will be an ample
supply for the consumption of the world, as heavy
fabrics are still a glut, both in England and the United
States, and with fine numbers' the quantity required
will be reduced. To the planters we would say, as
before, sell freely."
Great efforts appear to have been making by manu-
facturers in several of the Northern States, for the pur
pose of operating on the approaching Congress, in favour
of raising the present tariff of duties on a variety o'
staples.
We learn from Mexico, if the American accounts are
to be relied on, that two changes had occurred in the
Ministry. M. Iturbide had succeeded M. Gutierrez in
the department of Finance, and he in turn was succeeded
by Don J. Elorrisgo.
The English Funds have been extremely quiet this
morning, and on the whole not quite so good. Consols.
964 and 96k, and now 96i New Three-and-a-
Quarter per Cents. 98k to and Reduced Three per
Cents. 96i to 4. Bank Stock is 202 k to 203. The
premium on Exchrqu. r-bills has been 525. to 555., and
on East India Bonds 87s. to 89s. There is no life in the
market.
Foreign Securities are also dull, and Mexican
have fallen upon the uncertainty regarding the issue
of 0-morrow's meeting. The great contest will
be upon the attempt to get a new committee
appointed, and this accomplished, it is the very
general opinion the Bonds would rise several per
cent. on that score alone. There are, however, far
more important considerations. The Mexican Debt is
worthy of a separate committee, and undivided atten-
tion may bring about most important results. When
once a tangible arrangement is agreed upon, Lord
Palmerston will not be lukewarm in insisting upon its
fulfilment, should there be any backsliding ; and
the bondholders want such an executive as will
at all times afford them the earliest informa-
tion received from Mexico, or upon any mea-
sures adopted here. Some of the members of
the existing committee are said to be merely nominally
so, seldom or ever attending; one or two are particu-
larly active, and they of course carry everything their
own way. A selection of the eligible members, and the
adding of a few energetic individuals to them, would
probably be popular with the bondholders, and not
objectionable to those members of the committee who
ne longer care to serve, while the undue ascendancy
of one or two parties would bo swamped. Mexican
Bonds opened at 30 to but have declined since to
29i t. Spanish Three per Cants. have been 37} to 514,
and the Five per Cents. 19 to being a decided rally.
Railway Shares are very dull, and at about former
prices.

P 11 ES (r PrEDS
ank Stock ......

OWE CLOSI2. G
O'CLOCK. TRICII F.
203 202 4 2024

:3 per Cent. Reduced Anne. 961,434 q 96
New 314 per Cent. Anna.-- ... . 9334 1/21„j, 983 e
li dia Bonds,l,ooo/.
Ditto under 1,000/... ...— B7 89 p 90 p
Consols for Account

ixcbequr BilL. I 54-d.-& 2d
1,0001. June 52 55 p
500/. June ............ 52 55
Small. June 52 55 p
PRICES OF FOREIGN FUNDS. - GLOSIN
rßicEs.
88

53 p
53 p
53 p

ONE
O'CLOCK.
Brazilian Bonds BB
513.xican. 5 per Cent. 1846, with Coupons- -
Ditto, Ex Jan. Coupons
Ditto, Account
Peruvian Bonds, 4 per Cent - -
Ditto, Deferred
S p rush 5 per Cent. 1840
Ditto, Account
Ditto, Passive. - 4
Ditto. 3 per Cent
Ditto, Account . - 33
Dividends on the:above payable in London.
f etch 2% per Cent., 12 Guild. .. 56 56 ti 561 A
PRICES OF rAID. :BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOCK. PRICES.
Aberdeen ... 50
Do. Preference - di5....... - dis.
Amber. Nott., Boston,
and Eastern Junction 614 - -•• ••••• -
Ayrshira and Galloway.. 7% - -
Belfast & County Down 28 ...... - -
Berks & Hants Extens.
(Gt. West. Per.s per ct.) 6 -
Birmingham and Ox-
ford Junct., calls duly
paid, or with a guaran. 20
Do, without guarantee 20 - -
Birming. Wolverh'ton,
and Dudley, calls duly
pd, er with guarantee 10 .• ... -
Do. without guarantee 10 -
Birming„Wolverh'pton,
and Stour Valley 131. 14s ... - ' •• -
Birkenhead, Lancashire,
and Cheshire .func 20 - ........ •••••.. -
Bristol and Exeter 92 ... .. 55
Ditto, Thirds .........28i - -
Buckinghamshire ...... 171,4 - - .
Caledonian
Ditto, New 10/. Pref... 10
Ditto,ClydesdaleJunc 50 -
Chester and Holyhead... 50 -
Ditto, Preference l5 -
Clarence -
Do. Ist Class, 6 per Ct. 10 -
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mouth ....• 5% -
Dublin and Belfast June. 40 --- -
Dundalk & Enniskillen 27% --
East Anglian, 25/., L. &
E. and L. and D...... 25 -
Do. 181., E. & H.... 18 -
Do., 31. 108., Pref... 3% ..... -
Ditto, 71.175., 7 per
Cent., Preference... 2 .....-
Eastern Counties........ 20 •-•.• 6;ii••• .... ••
Do. New, Gua. 6 per ct. 10 ...... 11141,a
Ditto,Extension, 5 per
Cent., No. 1. 61.135. 4d.... - ... ..
Ditto ditto, No. 2..:6/. 13s. 4d... par .........
Do. North. & Eastern,
6 per Cent.
Ditto. 5 per Cent.... 50
Do. New 43 -
Eastern Union, Class A . .
(late E. U. Shares) 25 -
Ditto, Class A, ditto... 6 - ••.. •• ..... ••
Do., Class B & C 25 -
Do. Scrip (6 per cent.) 20 ... -
Esst Lancashire 25 - ..... •••_.. ••
Ditto, New - ......... ......
Ditto, New Quarters 6%...... - ..
Do., 6 per Cent. Pre-
ference Quarters ... 6E4. 7- --•••••
East Lincolnshire ...... 25
Edinburgh and Glasgow 50 ...... -
..
Ditto, Half Shares ... 25 .. .. _
.......
......
Edinburgh and Northern 25 -
Ditto, Newport l5 .• ... -
Exeter.Yeovil, & Dorch. 25,a -
Exeter and Exmouth... 21s. - ...
Glasgow, Dumfries, and
Carlisle ....... ... -8/.65. U... - ...
Glasgow,Kilmar., & Ayr 50 ...... - -
Do. Preference Consol. - - •• . ... .-
Gloucester & Dean Forest 11 •••••• - .• -
Great Northern
Do., !it A Deferred ... 1214...... - -
Do., %B 6 per Cent- 7%. - .. -
Do., 5 per Cent. Pref. IO
Great South. and West.
(Ireland)
Gnat North of England 100 ......
Ditto, New, 40/. 4O -
Ditto, ditto 35 -
...•• •••

16%
11%
Sig

6 Ts
1 1 IA

P
par

--• • 281%
29

Ditto, New, 301 3O
Ditto, New ,151 l5 ..
Great Western 100 . 58

594

Ditto, 1,4 Shares
Ditto, 14 Shares ...... 23 ..... II Li ll4
Ditto, Fifth 5............ 20

,
Ditto, New 171........ 15 ... .. 6%.... ....
Hull and Selby .. ...... 50 ......
Ditto, Half Shares ... 25 ......
Do. Quarter Shares... 121,4 — ..... „„,
L incaster and Carlisle... 50
Ditto, Thirds
Lancashire & Yorkshireloo
Ditto, ditto .
Ditto, 14 Shares „.... 49 .....
Dn. Quarters ......... 23% - a• ••••• ...... -
Do. Fifths - 10 - •• —
I )0. Thirds .... ....... 164....
Do. New Guaranteed
6 per Cent........... 10
Ditto (Huddersfield
and Sheff.).. 5O - ••
Do. (W.Riding Union) 10 ......
Do. (Preston & Wyre) 25
D 0.% Shares (A)... 10
Leeds and Bradford
Leeds and Think ...... 60

634

3%

Do., Prefer., 6 per Ct.
Do., do. No. 2
Do., do. No. 3 5 . ........
Do., Pref. Quar , 1813 9 .. ...
Liverpool, Crosby and
Southport . ......... .. 10
London &Blackwall...ll/. 6s. 3d —
London, Brighton, and
South Coast... ... 101

Do., New 51., guaran-
teed 6 per Cent 100
Do.Guarant. 6 per et.. 9 ......
Do. Prefer. 5 per cent. 50
Ditto ditt0...... 18:,2 50 ..
Lon don and Greenwich 12/15s 4d...
Ditto, Prefere.,o .. . 20
London and N. Western 100 lll 1113/4 lll%
Ditto, New Quarters.. 12 ...... 12% I2IA
Ditto, Fifns 7 ..... 8 .. .... ..... ... 8
Do. 40/.Shares(L.M.) 35 —
_ Do. 101. (M. & B.) C. 1 ... ..

Lond•& S. IV estgrn ..... 50 •• ... 000000000 • 30,4
Ditto, New 50/. ..... 42%......
Do. New 40/. ... 34
Do., New Scrip, 1848,
ref. 7 per Cent. ... 5
Londonderry &Coleraine 25
Do. % Shares . .. 5
' ondonderry and Ennis-
kiden..
Do. 14 Shares
Lowest( ff, guar. 4 per ct 20 ...... -
Ditto (6 per et.)
V anehe,•tcr,buxton,and
Matlock-. ..- ....... ... 5
IdAnchtster, Sheffield,
and Lincolnshire...100
Do. Quarters (No. 1) 25 . —

Ditto ditto (No. 2)... 25
D 0.% Shares (No. 3) 121 A —
_ _ _ _ _

Do. New 10/. Pref lO 13A
Ditto, Gt. Grimsby ... 50
Ditto ditto . 0
Ditto ditto
Ditto Sheffield and
Lincolnshire 25 .
Do., Grimsby Dock 25 ....
Do., Manchester and
Lincoln Union..... 41.25. —
Mi iland .................too
Do. Consolidated Pref.loo
Do., do., 501. Shares 30 ... 8
Do. Birm., and Derby 100
Do. Consol. Bristol and
Birming., 6.per ct.... 100 124 .••••• •..•• •• I'4
Ditto,Brist. & Glocutr. 42
Ditto ditto ....
Do.,Erew zshVal.,Pref. 50
Ditto, Leicest.& Swan-
nington, 8 per ct.guar.lW
Midland Great Western

Irish 471/2 00000 .. •• . ... ....
Middlesbro' and Redcar,
6 per cent. guar
Newcastle and Carlisle.loo .......
Do. Quarters
Newmarket
Do. Extension
ewport, Abergavenny,
.nd Hereford 6 ..••••
Sewry and Enniskillen 7
Newry, Warronpoint,
and Rostrevor 2O -
Norfolk ......... ...100
Do. New 20!. .. . 15
Do. Guaranteed 5 p et. 20
Do. Guaranteed 51/2pc. 5
...

Do. do. Waveney Val. 2 ......
Northern Counties Union 4 ......
worth British ........ ... 25 •••••
Ditto, Helves ..
Ditto, Quarters
Ditto, Thirds .... 8i 3IA
Ditto Preference
N orth Staffordshire ... 171/2
.orth Wales

.
North-Western ....
mterd, Worcester, and
Wolverhampton ...... 60
teading, Guildford, and
Reigate
itoyston and Hitchin ... 41A.....
,icottish Central - ...... .......„ --
Scottish Midland
Ditto, New ' 22t,i... .. .....
Shrewsbury and Biria... 12
Ditto ditto. Class B. 8
Ditto, New Guaranteed 8
shrewsbury and llerefd. 5 ......
Shrewsbury & Chester
(Nor. W. Min.) lB
Ditto Halves ... ditto 9 ......
Ditto Oswactry ...... 18t —
Ditto New
Do. 8 per Cent. Pref
Shropshire Union ' 6'A .....
'oath Devon
Do. Preference
south Staflordshire 81,4 — •••..•
:south Eastern

Do., No. 2.
Do., No. 3 ..... 30
Do., Registered No. 4 10
Do., Scrip No 4
BGuth.. W ales .. 43 ....•• ••• ••.. 00000 "
south Yorkshire, Don-
castor, and Goole l2
Sh Afield, Rotherham, 8s
Goole (N. Div.) Gua-
ranteed 5 per cent. ... 16% —
Do. do (Sou. Div.) ... 5
swans. & Loughor &Ca-
meron's Still. C0a1.... 7
raw Vale Extension ... 8
I'hames Haven Duck
and Railway ..... IVA —
Vale of Neath .. lO
N aterford and Kilkenny 20 .
Waterfbrd and Limerick 47%
Nateill,Wilrd,Wicklw
ling Dublin
Wear Valley 6 per Cent.
Guaranteed ... ...... LO
Do. do. do. ... 25
Do. do. do. ... 15
',Jest Cornwall ......... 6
hitchaven & Furness 18
Windsor, Staines, and
South Western ..... 14
N ilta, Somerset, & Wey-
mouth
fork, NewcasAti, and
Berwick.
Do. Newcastle Eaten, 20
Do. G.N.E.Pretercnce
Do. Hartlepool Dock
and Railway .. 100 ....
York and North Midland 50 ' 17 ...
ICP,t,tv Preferenoq
FOREIGN RAILWAYD.
inix;,. Italian (late Ita-
lian and Austrian)....
Boulogne and Amiens... 20
Central of France (Or-
leans and Vierzon)... 20
Demerara l7 %.....
Dutch Rhenish ..... 8
East Indian ..-........... 314 —
Ditto ...
Great Indian Peninsular 6
Do. Do. ... 10s.
Louvain Ila Sambre ... 7% —
Luxembourg
Ditto
Madrid and Valentia... 2
Namur and Liege
Northern of France l4/. 88... dis
Orleans and Bordeaux.. 7 ......
Paris and Orleans ...... 20 .....
Paris and Rouen 2O ... - 22
Paris and Strasbourg ... 12
Rouen and Harm
Sambre and Meuse 2O
Strasbourg and Basle
Tours and Nantes ......» :13
Tournay, Jurbise, Lan-
den, and Hasselt 20
W est Flanders 834 ...

Anglo-Mexican lOO
Asturian Mining Com... 15
Australian...
Baesora Range ... 28s.
Blaenarvon Iron & Coal 50
Bolonos Scrip ......
British Iron
Brazilian Imperial
Do. St. John Del Rey 15
BrazilianCocao&Cuiaba 30
Cobre Copper
General 2O
Real Del Monte, Unreg.
Do. Black Debentures
Do. Red Ditto
Santiago de Cuba... lO
United Mexican 28%

JOINT STOCK BANKS.

Australasia
British North American 50
Colonial 2.5 .•••.• ..•
Commercial of London 20
London Joint Stock lO
London & Westminster. 20

LLO YD'SSHIPPIN G-7( THIS DAY.)
LONDON, DEe. 19.--Wind this day at noon W.N.W.,
fresh breeze and cloudy.
DEAL, DEC. 18.—Wind W.S.W., strong. --Acrd.
Orissa, Calcutta; Oriental, Taylor, Bombay; Zoe, Sbaw,
Colombo; Irene, M'Donald, Brazils, for Antwerp;
Laura, St. Jago de Cuba; Saluttus, City Point; John
Hawks, Richards, Boston; Soldan, New Orleans. S:d.
Trafalgar, Adelaide, S. A.

. -
COWES, DEC. 18.—Wind S.W.—Arrd. Corfu, Shaw,
Pernambuco.

LIVERPOOL, DEC. 18.—Wind W.N.W.—Arrd. Duke
of Wellington, Hargrave, Calcutta; Christina, Craig,
Singapore; Dido, Brass River; Irlam, Savanilla; Fa-
Dentin, Pike, New Orleans; Sunbeam, ditto; Austria,
Borland, ditto; Thomas Wright, Babbidge, ditto; Ame-
lia, Agry, Charleston; Harriet and Jeasee, Connor,
ditto; Guy Mannering, Edwards, New York; Levant,
St. John's, New Brunswick; Caledonia steamer, Boston.
A large ship was seen on shore six miles south-east of
the Little banes on the 15th ult. with all sails set.
RAMSGATE, DEC. 18.—Wind W.S.W. fresh.—Arrd.
Betsey, Milner, Charleston.
FALMOUTH. DEC. 18.—Wind W.S.W. fresh gales.—
The Jane of Bristol, Cardiff to Wilmington, N.C. was in
contact with:a large ship, supposed to be American. out-
ward bound, 14th inst., lat. 49, lon. 7 21, and foundered
on the 16th inst.; crew saved.

GUERNSEY, DEC 15. The Li ttlo Brown of Penzance,
struck on a rock off Laucressa Rag this morning during
a gale, and sunk in 12 fathoms; crew saved.
LEITH, DEC. 18.—The Joseph and Mary of Sunl
land, hence to Stockton, was wrecked on lochkeith, 14th
inst. ; crew saved.
SCILLY, DEC. 17.—Wind W. equally.—ArrO. Sama.
ritan, Allen, Maranham.
BRIDLINGTON, DEC. 18.—The Mary Dick, Har-
tlepool to London, was in contact off the Dudgeon, 16th
inst., with the Caminha of Dundee, and was abandoned;
crew saved, and landed hero by the latter, which received
trifling damage.
GLOUCESTER, DEC. 18.—Arrd. Lady of the t,
Scott, Prince Edward's Island.
CARDIFF, DEC. 18.—Wind N.W.—Arrd. Lightfot,
Rostigouohe.