The Sun.
London, England, 1849-01-18 00:00:00

STOCK EXCHANGE.

Merchants were anxiously waiting the receipt of later
news expected by the Europa. It being the last business
day of the year, 'Change was thinly attended. Trade
was not brisk, but prices tor all kinds of produce were
steady, with an upward tendency in flour and provisions.
The stock of flour on hand in this city at the present
time, or at the close of the present year, was estimated
at 400,000 to 450,000 bbls, and the stock of wheat
at about 478,000 bushels. These supplies were not
considered large for the season. No arrivals of
consequence were anticipated from the interior
until the resumption of navigation. It was
also supposed the arrivals from southern ports would
not be large. Should the accounts respecting the cholera
at New Orleans prove true, it was expected shipments
from that point would be curtailed. These circum-
stances, with the prospect that the next steamer might
bring accounts of the closing of the Baltic ports with
ice, with some improvement in the English markets,
caused holders of flour to take a firmer stand. This
they were the better enabled to do, from the fact of an
easy money market. Most of the receivers had stored
their supplies, provided against contingent liabilities,
and hence were prepared to wait the future turns
of the market. The sales made to-day were to the home
trade, at full prices, and in some cases at an advance.
Sales of Western wheat were made on terms stated be-
low. Sales of corn were limited, without material
change in quotations. Meal stood as before. Oats were
firm. Provisions were firm, and nearly all the old pork
offered was taken at higher prices then prevailed yester-
day. Beef was also firm, with moderate sales. Lard
continued quiet. Groceries were selling only in a mo-
derate way. Cotton was steady, with fair sales.
Ashes—Sales of 50 barrels pots were made at 6 dolls.
to 6 dolls. 12lc. Pearls were steady at 6 dolls. 25c.
Breadstuffs—Flour—The sales reached 3,000 to 4,000
barrels, including Western Canal, Oswego, Lockport,
&c., at 5 dolls. 564 c. to 5 dolls. 62ic.; and straight brands
Michigan at 5 dolls. 681 c. In the above are also in-
cluded 300 barrels Oswego, at 5 dolls. 561 c. ; 500 ditto
uninspected Western Canal at 5 dolls. 25c. There was
better inquiry for Southern, and sales of 400 barrels
Richmond were made at 5 dolls. 44c. ; Petersburg City
Mills was steady, at 5 dolls. 50c., while holders were in-
clined to ask better prices. Wheat—Further sales Illi-
nois wheat were reported 11*. ; and 500 ditto Ohio,
at 113 c. Corn—The only sale of moment was 3,000
bushels Southern white, on private terms ; prime yel-
low ranged from 57c. to 59c. ; old remaine about the
same. Meal—Sales of 150 barrels Jersey were made at
2 dolls. 87ie. to 2 dolls. 94c.; and 250 ditto sold, afloat,
at 2 dolls. 85c. Rye—The last sales were made at 62c.
Oats—Canal were firm at 40c.

Provisions—The aggregate sales of new prime and
mess amounted to 700 to 800 barrels, at 11 dolls. 50c. for
the former, and at 14 dolls. 50e. for the mess; after-
wards held at 14 dolls. 75c.; 200 to 300 barrels old mess
were sold at 14 dolls., with some lots prime at 11 dolls.
Lard continued quiet. Beet—A small sale of beef hams
(25 barrels) was made at 13 dolls.; and 25 barrels Chi-
cago mess at 11 dolls. 25e. There was nothing new in
cheese or butter.

VinCOUNT PALMERSTON.—The Noble Viscount was
unable to attend the Privy Council on Monday last
at
Windsor Castle from indisposition, which compels his
Lordship to keep'
his chamber. His illness is not of a
serious character, and it is thought the Noble Viscount
will be enabled to join in the meetings of the Cabinet in
a week or ten days.

:,.+.-

IRISH

EQUITY COURTS.

(FROM A CORRESPONDENT.)
The observations in your journal of Satur-
day have excited much attention in " the Hall,"
and all persons agree with you in your stric-
tures on the state of the Equity Exchequer. But it
has been asked, why not abolish this jurisdiction
altogether ? It has been abolished in England,
why continue it in Ireland at this enormous expense ?
There are not more than ten or twelve hundred bills
filed in a year in the Court of Chancery, which
number is a bagatelle. In the Exchequer, I dare say,
there is not one-sixth of that number ; so that if a
bill in equity be filed, as it may be filed for a matter
of 51, it costs the public, if your calculation (14,0000
of the cost of the present equity establishment be
correct, on an average, to hear that Si. cause (if it
ever come to a hearing), seventy pounds ! In the time
of Lord Manners, the public and the profession were
dissatisfied with the Irish Court of Chancery, and
they went to the Court of Exchequer, because then,
as now, the Exchequer was filled by able men.
Henceforward it is not probable that incapable Chan-
cellors will be appointed to the Seals, and there is,
therefore, no necessity for persons going to a court
for equity, which court is already overwhelmed with
law. If it be necessary to have an auxiliary
Court of Chancery, have it by all means.
There is not a judge in the Court of Ex-
chequer whose abilities and integrity would
not do honour to the Chancery Bench, whether the
occupant of the new seat should be the able, pains-
taking, kindly, and courteous Chief Baron ; the
venerable, astute, and kind Pennefather; the quick,
comprehensive, and generous Richards ; or the sober,
cautious, and 'learned Lefroy—any or either would
make a good Vice-Chancellor. If, however, the Lord
Chancellor, who is about as "stout-built a special
pleader" as has flourished since the first application
of that libellous description to the conscience-keeper
of Majesty, be inclined to add a little to his work
(and he has capacity for that or anything else which
he may undertake), he will, I dare say, be equal to
the additional duty, if there be an additional Master
or two appointed, which it is very likely will prove
necessary by the Incumbered Estates Bill, when it
shall come into full operation. The profession,
however, leans to the establishment of a Vice-Chan-
cellor's Court, and this arrangement can be effected
with considerable saving. The adoption of this plan
will enable the Exchequer to discharge its peculiar
and 'occlusive jurisdiction all the better. The law
business, of which, owing to the efficiency- of the
Court, and the high opinion entertained of it by the
legal profession, it has more than a fair proportion,
will be more speedily dispatched, and the revenue
jurisdiction, which I believe is very much exercised,
will give also its quota of employment in addition to
the contents of the enormous Nisi Prius list that
generally appears posted at the end of term, as well as
in the progress of it. At all events, it the equity juris-
diction be not abolished, you are right in saying no
time should be lost in putting the present establish-
ment on a rational footing, and getting rid of the
eyesore of sinecures, which, as you truly say, set an
example for extravagant imitations.
Dublin, Jan. 16.