The Sun.
London, England, 1849-01-05 00:00:00

THE SUN, LONDON, FRIDAY EVENING, JAN CLARY 5, 1849.

of the insurrection which had recently broken forth
beyond the frontiers of Caubul. Neither is it. by
any means improbable that the disastraus:character
of that supplemental outbreak had been grieveusly
exaggerated in the course of its sstransmlsn
as a rumour from the suburbs of Teshawtfr.
Notwithstanding the dejection naturally produced
by these calamities—both anticipated and ex-
perienced—the British troops and the sepoys
have shown themselves in every instance the worthy
descendants of the heroic battalions who mingled
their blood with the bang of Arcot, and triumphed
over the legions of the Great Nabob under the mango
trees of Plassey.
From a consciousness of the comprehensive scheme
of the campaign, as already determined upon by the
veteran Commander-in-Chief, and the extensive outlines
of which are by this time more than conjectured—
the principal share of our attention is of course
directed to the line connecting together the cities
of Attock and Umritsir ; for along that
line extend the most important movements
of the belligerents. Yet, in spite of the paramount
attraction thus presented to the imagination, our
mind does not fail to revert with interest to the pro-
ceedings which have taken place in the camp of
General Winsir. Saddened by an increasing sense
of their isolation, by a belief that the main body of
the Sinde reinforcements had not adventured beyond
Sukkur, and by the accounts obtained respecting the
escape of Colonel LAWRANCE from Peshawur—
the forces under General WHISH were suddenly, on
the 6th of November, asc_aulted by a formidable sortie
from the battlements of the Moonam. By singular
good luck the assailants issued forth against
the quarters occupied by the Irregulars of Major
EDWARDES. Under their youthful and heroic com-
mander those troops did not fail to sustain their high
and rapidly-acquired reputation. After driving back
the Seikhs in a hand-to-hand encounter, the soldiers
of EDWARDES wtre joined by the brigade of General
MARKHAM ; and then, not satisfied with the simple
retreat of their enemies, the Major and the Brigadier
caused their men to advance simultaneously with an
impetuosity which defied opposition. The result of
the attack was as brilliant as could possibly
have been desired the soldiers of the Moor,
na.r were, with a severe loss in killed and
wounded, compelled to seek shelter within the fortifi-
cations—one of the most formidable of their outworks
was seized—battery after battery fell into the posses-
sion of the Europeans, and with the exception of two
guns hurriedly cinveyed behind the ramparts, the
victors were enriched by the capture of the whole of
the heavy artillery. In this vigorous encounter the
brigade is conceivA to have experienced a loss of
merely six killed and about fourteen wounded, the
sufferers among the irregulars, both killed and
wounded, are (stimated at nearly two hun-
dred, whilst their antagonists are presumed to
have borne the brunt of an assault which na far
as regards themselves might almost be designated
a slaughter. The triumphant result of this
collision must in some niasure, we conjecture, be
attributed to the indignation excited in the hearts of
the Europeans by the perfidious conduct of the
Asiatics, the latter having recently endeavoured to
corrupt the artillery at Dum -Dam, while they had
actually succeeded in inciting to desertion six com-
panies of the regiment of General CORTLANDT.

While these events were transpiring amongst the
brick kilns and orchards of Meultan, the position of
the other insurgent chieftains was becoming every
day more precarivus. CUUTTUE SINGH continued in
the vicinity of Peshawur, and by those few who re-
garded his destinies with interest it was yet hoped
that victory would cover the banners of the hoary
and graceless rebel of Jummoo. His son SIMILE
SINGH remained at Vizierababad, awaiting a rein-
forcement of five Seikh regiments from the direction
of Eunnco, until the approach of Bigadier CURE..
TON affrighted him from his lethargy, and com-
pelled him to hasten with the utmost rapidity
to the opposite banks of the Chenaub. Such
was the posture of affairs when Lord Goimii,
crossing the Ravee near Rumnugger. took up
his position within sixty miles of Lahore, and
when, somewhere about the same time, Lord Den-
Ronne, emerging from the gates of Allahabad,
advanced in the direction of the north-west frontier:
The question is no longer whether, but when the
Punjaub is to be conquered : and its definitive anexa-
tion with the British dominions has been at length
fully and resolutely •determined upon. Thanks to
the insane faithlessness of the Seikhs, the Asiatic
territories of England will very soon have stretched
as far northwards as the foot of the Himalayas.

Some time since, when railway property was de-
preciated to the utmost, when a panic prevailed in the
market, and purchasers could scarcely be obtained for
shares in dividend-paying lines at any price, we
ventured to offer some encouragement to share-
holders. We exposed the machinations of those who,
for their own vile purposes, invented and circu-
lated the most unfounded rumours, and plun-
dered their fellow-subjects of their pro-
perty without the least compunction or remorse,
and we entreated of the shareholders not to sacrifice
their property. by casting it recklessly on the market
to be sold for whatever it might bring, and thus to
play the game of their ruthless assailants. On the
15th October, when the gloom was deepest, we ad-
dressed the following recommendation to those in-
terested in railway stock, which we shall offer no
apology for transcribing. We said, "On the whole
let the shareholders, not be dispirited. Let them be-
lieve there is a good time 'coming) and it will
come. Let them determine not to. sacrifice 'their '
property for less than its fair value, but to retain it
in their hands until a fair price is offered, and that
price will eventually be offered. Above all, let them
not encourage the 'Bearing' system?by sending in.
their shares, to enable those paitieslaCornidete r
.
speculative contracts, by w 14.41 tbry ,nauat „become':
severe losers, if the shareholders do not play into their
hands, to their own grievous logs, perhaps ultimate
ruin." We are happy to say that 'those who
followed our advice, awl acted on the recommendations
which we offered almost every day, had no cause to
regret their confidence. The predictions which we
uttered have hitherto been verified, and. they are still
but in course of completion. There is no word of
hope which we then uttered that is not applicable to
the present •moment. The tide has been turned, and
it has flowed upwards in a gentle but
steady stream. And we have no doubt but that
it will continue to do so for a considerable time,
without let or hindrance, until the actual and bona
fide value of stock is 'arrived at.

We' are proud to think that we contributed in
some degree to that improvement, by indicating the
causes of the general depreciation, and proving that
the panic . was ascribable in a great degree to the
operations of the 'Bearish' fraternity, and not to any
real deterioration in the value of railway pro-
perty.' We shall still endeavour to lay a true
state of facts before the public, and to
point out, that prices have not yet attained their fair
level,• and that an improvement to the extent of at
least 25 per cent. on the shares of the principal lines
may still reasenably be expected ; that there is
every prospect that shares will arrive at the quotations
of last January, if not still higher. .

The financial statements that have been issued by
the principal companies completely establish the
soundness and stability of their positions.
They have proved clearly and satisfactorily
that there is every reason to calculate upon
a fair and remunerative dividend being main-
tained without diminution, and that if a general im-
provement should take place, and a greater degree of
activity should prevail throughout the country, a
pesition of railway
considerable increase on the estimated profits might
fairly be looked for. In many respects, therefore, the
twelve months since, inasmuch as the shareholders
have now full and
propertysatisfactory
better
evidencethan i t
ohna d been
h eoesne
points which they then took upon trust. . Assur-
ances have also been given that demands will not
be made upon shareholders for the construction of
works for which powers had banodbtained. Certain
lines have been formally band
at least
until
east for the
s hastil
present, and no progress will be made
the assent of the general body of the shareholder
been given thereto. We, therefore, unhesitatingly
sly, that railway property sl'ould now (without
any
reference to the state of the Money-market) bear
higher prices than in January, 1848 But, inasmuch
as every circumstance connected with monetary ‘

!'fifftiliS is now very much more favourable than it was
at 'that period, a still further improvement might
fairlyehe-looked for on that account.
-Aeiliii4i,rne last year, the minimum rate of inte-
restttecepteA.ley the Bank was five per cent., and it
was not urititthe 27th of January that it was re-
duced to four per cent., a reduction which was pro-
tested against in the strongest terms by some of our
contemporaries, as not being-warranted by the condi-
tion of the country. That minimum rate now
stands at three per cent., and if we look to the
high state of the banking reserve (considerably
more than 11,000,0001. sterling), the enormous
amount of bullion uselessly stored in the coffers of
the Bank, and the comparatively small amount of
"other securities," it will appear more than probable
that a further reduction must speedily take place.
The prices of Consols for the opening on the 18th of
January, 1848, were 851; they now stand at 89k,
an improvement of 3i per cent., which is
more than warranted by the more propi-
tioui prospects of the country. There is
also an improvement in almost every other
description of property save in railways, and although
they are far better than in October, when we endea-
voured to encourage the shareholders, they are still
far below the quotations of January, 1848.
We shall now point the prices of a few of the
leading lines as they stood upon the: 27th January,
1848, the 23.1 October, 1848, and the 4th January,
1849, end confidently ask why a further material
improvement should not take place. North-
Westerns, which in January sold at 1531., had
fallen in October to par or one discount, and have
since rallied to 1271. Great Westerns, which in
Jar uary were at 15 premium, and in October at 23
discount, are now 9 discount. Eastern Counties, in
January, 16; in October, 111; now, 12k. Midlands,
in January, 115 ; October, 66 ; now, 87. York, Nev -
castle, and Berwick, in January, 35k ; October, 21 ;
now, 29. York and North Midland, January, 78 ;
October, 42; now, 57. South-Eastern, January, 31;
October, 20; now, 24k. London, Brighton, and
South Coast, January, 43 ; October, 25 ; now
32-1. London and South-Western, January,
56; October, 36; now, 42. We might multiply
cases, all showing similar results. We have, how-
ever, adduced sufficient evidence to show how fully
our predictions have been verified; and that although
a rise of from 20 to 25 per cent. has already taken
place, an improvement on present prices to at least
an equal extent, may reasonably be looked f..r widdn
the next few months, unless some unforeseen (-rents
should darken the political horizon and lead to a general
gloom. We therefore rep/at the advice we tendered
in October to shareholders, to preserve their property
until a fair price can be obtained, and to capitalists
to look to railway shares in preference to any other
description of investment that may offer which does
not posses 3 extraordinary attractions. Let theca
recollect that 6 or 7 per cent. still be obtained in
sa'e lines, and to what other quarter can they leek
with such favourable prospects ?

THE FRENCFI IZEPU.BLR.)

We have received the Paris papers of yesterday.
It appears that there will be no explanations in the
National Assembly on the subject of the recent dif-
ference between the Prince-PRESIDENT and his ex-
Minister of the Interior. A quasi reconciliation has
been patched up. The PEACHUM and LOCKIT of the
Republic, exclaim "Brother ! Brother ! we are both
wrong ;" and forthwith fraternise.
The proposition of M. RATEAU, fixing the general
elections for the new Legislative Assembly for the
4th of March, has been rejected by the Committees
of Legislation and Justice, to which, it hal ken
referred. The Committee of Legislation rejected
the nu allure by a majority of 19 votes to 18, and in
the Committee of Justice the votes were 18 to 18.
A report on the question will be submitted to the
Assembly.
In the sitting of Thursday, the National Assembly
resolved that henceforth there should be three deliber-
ations and three votes on every measure before it can
have the force of law. The Assembly also adopted
a Bill authorising the Bank of France to make a loan
of three millions to the department of the Seine, and
another granting a credit of 400,000 f. to the Minister
of Public Works for indemnities to the clergy ; and
another credit to the Minister of the Interior of
130,000 f. for the expense of the transported in-
surgents.
The following law has been proposed to the As-
sembly :
" Shall be punished with imprisonment, varying from
six days to three months, and a fine of 100 f. to 17000 f.,
all who have conspired to cause a rise in wages, either
by menace, violence, or any other means of intimidation;
or by workmen abandoning their workshops, or by those
who employ them suddenly dismissing them without
conforming to the stipulations mutually agreed upon."
The proposed conferences on the affairs of Italy,
which were to have been held at Brussels, are, it is
said, indefinitely postponed. We find the following,
on this subject, in the Patrie
" Some days ago we announced that M. de Ricci, the
Sardinian. Ambassador, who was to represent the &tart
of Turin in the conferences at Brussels, had quitted
Paris leaving in his place the Count d'Antioche as
d'affaires, and M. BarromGe as first secretary.
This fact has led to the belief in another, which, without
beitig'offiCial, Was current yesterday in the diplomatic
world. The Congress of Brussels will ,not take place.
The project of mediation may be considered as aban-
doned. It is well known that Austria only accepted the
mediation by constraint. She has therefore seized with
readiness thfefirst opportunity of pointing out the inuti-
lity of conferences which could lead to nothing. The
programme, manifesto of 'Gioberti has been made the
pretext. Gioberti said that ' Sardinia would not cease
to prepare, for war.' Austria has pretended to see in
qua alstirance a sort of declaration of war,, and she has,
it.tasaid, proclaimed that the Congress was an absurdity
from-the
,mptuent that Sardinia did alot think of peace."
Coustilitionnel, in relation -to the departure of
the Sardinan Envoy from Paris, says,it must not be
nfeired, from the sudden departure of the Marquis
0,414de1, that ,the Congress at -Brussels has been
ihandonEd. \., The Marquis DE Rice' was recalled in
orderio fill tißother place, but the:sltrilinian Govern-
aelit 'Oikannounced,, to the. gabitiettaef Paris and.
Lonatij'MA anotfier Envoy would Iv. at ohcef!ap-
',pointed stead, with similar,puwers.s.
nid Grand Duchess, STEPHANIE of Baden,jthe
cousin of Queen HORTENSE and the mother of the
Marchioness of DOUGLAS, is daily expected in Paris
to do the honours of the Elysee Bourbon.
Great dissatisfaction is expressed. by many of the
National Guard at, the manner of thexeception of the
PRESIDENT on New ; they also object to
the personal entourage of the PRESIDENT, as being
Composed" of persons: who are known to be hostile to
Republican principles.
The Ministry is considered to be in a very ricketty
condition. Overtures, it is said, have been made to
M. DUFAURE to join the Cabinet.
Marshal BUGEAUD has arrived at Lyons.
M. PRoUDRoN is suffering from an attack of typhus
fever.
M. DE FALLonx, the Minister of Public Instruc-
tion withdrew yesterday the measure respecting
public instruction which had been introduced by 111
CARNOT.

The Moniteur publishes a decree appointing a
commission, to draw up, along with the Minister of
Public Instruction, a law with respect to primary
instruction. The commission is composed of the Mi-
nister of Public Instruction himself, and MM. Pou-
LAIN DR BOSSAY, CUVIER (pasteur) MlCHELLassistant
of Father GERARD ; ARMAND DR MELUN, President
of the Society of Economical Charity; HENRY DE
RIANCBT, member of the same society; COCHIN,
member of the Society of the Friends of Infancy ; and
MM. BUCHE3, SIBOUR,ROUX-LAVERONB, DE MON-

TREUIL, and PEUPIN, representatives of the people.
Another decree appoints a similar commission re-
specting secondary instruction, consisting of the
Minister and MM. Cousin, St. Marc Girardin,
Dubois, Dapanloup, Vicar-General of the diocese of
Paris; Janvier, Laurentie, Inspector-General of the
University - Bellaguet, President of the Chefs d'ln-
stitutions of" the Seine ; and MM. Thiers, Freslon,
Montalembert, Come, Corcelles, and Franeau, repre-
sentatives of the people.
The ceremony of the formal installation of JEROME
BONAPARTE, as Governor of the Invalides, took place
yesterday. JEROME BONAPARTE arrived at the In-
valides at noon, accompanied by his son Jerome Na-
poleon Bonaparte, General Changarnier, and Lieute-
nant- Colonel Ciary. There were also present Colonel
Cipriani, the aide-de-camp of Jerome Bonaparte at
Waterloo ; M. de Vatry, Count Walewaki, M.
Arrighi de Padua, and his son, M. Thayer; the
Director-General f the Post-office, &c.
General PETIT and his stuff received the new
Governor at the entrance. The Invalides were then
formed into a square, dressed out in their dress equip-
ments. Among them were several who left their sick
beds to do honour to the brother of the EMPEROR.
After JEROME BONAPARTE had been proclaimed
Governor of the Invalides, General PETIT surrendered
tohimthe
in
command;
followingmhandafter
twerhmicshhe addressed the
old Soldiers

"Officers, Subalterns, anti Soldier 3 !—The Govern •
ment of the Republic, in callin • rip, to the h.,nour
coinnvinding you, and in entrusting me with the custody
of the tomb of the Emperor, my brother, endeavoured to

express the wish of the French people. It is in that
conviction that I have accepted with pride and gratitnd,.
that holy and pious mission. Military Invalities!—l
will watch over you as the Emperor watched over me
from my earliest years. The Emperor owed everythine,
to France, but his family owe him much more still:
thus it will never forget that, having sprung from the
people, there is no sacrifice sufficient for it when it has to
serve the people. Allons mes antis t Let us cry from
the bottom of our hearts, ' Vice la France ! Tout pour
la France ! Rien que par la France !'
This speech was received with loud cheering. The
new Governor, surrounded by the remains of the
grand armee, then proceeded to the chapel, where
prayers were said. He remained a considerable time
in the part of the church where the remains of the
EMPEROR are deposited. He then visited the dining-
rooms, sleeping-places, and infirmary.
The appointment of Admiral CECILLE as Ambas-
sador to the Court of Great Britain, and of M. DE
LAGRENEE as Plenipotentiary at the Conferences at
Brussels, are announced in the Moniteur.
BOURSE—PARIS, THURSDAY, JAN. 4.
THREE O'CLOCK.—The French Funds were weak
throughout the day, and closed fully one half per cent.
kselow the closing prices of yesterday. There is a gene-
ral feeling of indefinite uneasiness among speculators,
not pr,cceding so much from any positive facts, as fr en
the fear that the present Government is about to meet
fully as great difficulties as its predecessors. It is said
that bad news had been received by the French Govern-
ment from Rome, but the nature of it Iv's not stated.
Exchange on London (thirty days), 25 27i ; ditto
ninety days), 25 20.
13ITSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, JAN. 4.
Boulogne and Amiens, 814—Namur and Liege, 53/4—
Northern of Franee, S—Orleans and Bordeaux, 2t,—Paris
and Rouen, 133/4—Paris and Strasbourg, 234—Rouen and

SPAIN.
Madrid journals of the 29th u!t. have arrived.
The state of siege has been removed in Ciudal
Roderigo and Toledo.
The debate on the Address had commenced in tt
Chamber of Deputies,

MADRID BOLSA, Disc. 28.—The Three per Cents,
were done at 20i for paper; the Five per Cent 3. at
10 ; the Debt without Interest at 4 ; and the Cou-
pons at 6.

GERMANY

AND

-HIE NORTHERN STATES,

AUSTRIA.

Advices have been received from Vienna to the
29th ult.

The budget for 1848, which was published on the
28th, shows a deficit of 432 millions of florins, the
receipts being 1121 millions, and the expenditures
136 millions. Notwithstanding this unsatisfactory
statement, public confidence is on the increase.
Prince SCHWARZ ENBERG has issued th,..! followirg
address to the electors of the Wieden district of
Vienna:—.

" The undersigned President Minister has laid before
the Emperor the address of the electors of the Wieden
district, in which they protest against Articles 2 and 3
of the project of Constitution of the CAI:I-al Power at
Frankfort, and declared their adhesion to the manifest
of the Imperial Ministry. His 'ajeety heard with
pleasure this true Austrian expresAun of feeling, and
has commissioned the undersigned to inform the electors
that there is every retvon to believe that a solution of
this delicate and important matter will b effected in the
interests of Austria and of .Germeny. Meevnres have
been taken to provide for the desired eireulaion of the
address to his Majesty, as also of the vote of confidence
to the Deputy at Frankfort of the Wied n district.
(Signed) " F. SCLIWARZENBERG.
" 01Mtitz, Dec. 13, 1848."
The Wiener Zeitung, in allusion to the letter
published by the National, and written by a prisoner
of IVINDiscaGRATz, denies that the twelve students
were shot as reported by the writer of the letter,
because, says the Wiener Zeitunp;,.no execution by
martial law took place but a report of it was officially
inserted the next day in the Wiener Zeitung, and
assuredly no list of twelve students was ever inserted
in that or any other paper. This tardy denial, how-
ever, by no means satisfies us that the atrocity, as
recorded by the writer in the National, never took
place. The execution did not take place by martial
law, because probably the students were shot '
down without even the form of a trial, as many
hundreds were during the month of November by
the barbarian Croats of JELLACHICII. Will the
Wiener Zeitung venture to assert that no prisoners
were shot by the Imperialists save those who were
condemned by martial law. The contradiction as it
at present stands is a mere " swearing by the card."
The EMPEROR has appointed Count Faux Zrcui
Royal Commissioner for the two countries of Pres-
burg and Wiesselburg.
The Austrian Lloyd's has the following from
Trieste, dated Dec. 24 :---

" The English war steamer Ardent hna just arrived
hero from Venice. The fearful storm which has been
raging here for some days has prevaild there also; and
the English brig of war Mutine was wreaked upon the
sandbanks. Three officers and two marines were
drowned, and several others had their feet frozen. The
rest of the crew were rescued by the Ardent. The Sar-
dinian fleet was seen at Otranto."

four-and-a-half per cent., and 9,000,00011."' at flv`e
per cent. interest, but the yearly intereaOpaid is
36,271,811f1. 53c., and this swells the budget of this
small kingdom to,the enormous amount of 71,0111p,000f1'
Numerous retrenchments have been progsed and
adopted, both in the Royal household and other de-
partments, but at the very outside they do not amount
to more than two millions.

The Ministers, it is said, intend, at the opening of
the Chambers, to propose the following new taxes, in
some measure to meet the deficit : a tax of 5 per
cent. on the net profits of all landed property, a kind
of income-tax; 5 per cent. on large properties and
pensions, and a lower rate on smaller incomes ;
scale of rates on patents; which shall be imposed on
various trades and professions hitherto exempt from
any patent ; and, lastly, the most important tax of
all, 5 per cent. interest on all Exchequer-bills,
whether home or foreign. There can he no doubt
that numerous will, and must be, the objections stated
against all and several of these taxes; but even if
they should not be imposed, the Legislature nfly
be able, after discussion in the Chambers, to
arrive at some conclusion, and discover some
method whereby • die country may he saved
from the impAidinp.: ruin which awaits it in its
financial relations, unless some decided measure bo
speedily adopted.

-11,6141 Ar and COMMERCIAL NEWS.
; CITY, QUARTER TO THREE.

:Theosales of Cotton at Liverpool yesterday were
5,000 bales.' The market throughout the day_was firm.—
In Railway Shares there was not much doing, but prices
,were very firm.
The satisfactory issue of the meeting of Peruvian
Bondholders held yesterday has quite 'thrown
in the shade further complaints as to the jobbing
that has been practised. The Chairman ad
pitted that he had received, letters ,of com-
plaint' froin bondholders who stated that they had
sold their stock in ignorance of the excellent terms to
be proposed, but observed that the committee were not
responsible for this. This is perfectly correct, for the
committe, in their official capacity, do not seem to have
heard of them until long after others knew, if not the
details, at least that something very good was coming
out. Senor Osma is highly spoken of as a man
of integrity, and how the matter oozed out, whether
through letters sent from Lima or ortherwise, we shall
never be able to ascertain, probably. All we hope is
that Peru will faithfully adhere to her promises, that
the guano will continue to be found in abundance, and
that Messrs. Antony Gibbs and Sons, who have
contracted to receive it, will duly pay over
half the proceeds to treasurers jointly appointed
by Senor Osma and the committee of bondholders. This
is-really a very important point, because, as the chair-
man stated yesterday, the Venezuela Government, after
remitting funds to Messrs. Reid, Irving a-id Co., to pay
the dividends, actually withdrew them for its own pur-
poses ; and we all remember similar cases, none being
more flagrant than that of Mexico, when Santa Anna
was in power. As it is not yet settled who is to appoint
the agent, or rather Senor Osma stipulates to do so, we
hope that the committee will use every exertion to have
a voice in the nomination. There is nothing like doing
the thing rightly and fully while they are about it, to
avoid the unseemly squabbling that has so frequently
occurred as to whom the agents act for, whether the
foreign Government or its English creditors, until either
both parties are kept out of it, or more frequently, the
former gets possession.
The California gold fever does not subside. Expe-
rienced parties in the City state that the gold must be
the purest, perhaps, ever discovered, if the analysis given
in the American papers be correct.
We understand that: an American citizen has disco-
vered an extensive deposit of rock salt in New Bruns-
wick, and that he has made a proposition to the Go-
vernment of that province to make them acquainted with
the locality, on being assured a small per tentage of the
duty paid to the Government on the quantity raised, and
this only for a limited term of years. As this proposi-
tion involves an outlay on the part of the Government,
arid offers the greatest security against deception or im-
position, we hopo the proposition will be favour-
ably received; for if no salt is raised no money is
to be paid, and the Government have it at all
times in their own power to regulate the
rate of duty which shall bo collected on the
mineral. It is, however, as a local editor observes,
rather singular that we should have had a provincial
geologist wandering over the face of the country for
years, at a heavy expense to the public, and that he
should have discovered no indications of this deposit
during his peregrinations. Fortunately for the public,
a lynx-eyed Yankee occasionally follosis in the track of
these well-paid official gentlemen, and when they
happen to wake a discovery, such as we have just re-
ferred to, we see no reason in the world why they
should not be permitted to benefit by their ingenuity.
There are reports that the Revenue Returns for the
quarter ending this evening, will not be altogether so
favourable as was stated a day or two since, but this is
mere conjecture. The prices coming lower from Paris,
and the unfavourable weather, in conjunction with the
Danish affair, have an effect on the Funds, and there
has been again a little realising. Consols are 881 a ;
New Three-and-a-Quarter per Cents. 891 and the
Three per Cents. 88i 31. Exchequer-bills are 425, to
455. premium, and India Bonds 41s. to 455, premium..
Spanish Three per Cent. Bonds are 26k, and Portu-
guese Four per Cents. 26. Mexican Stock is at 25 to
254; Peruvian are 484 to 494; Dutch Two-and-a- half
per Cents. are at 48 to 49.

Railway shares are rather cheaper generally, but there
have been a good many transactions.

02,E
I'RI 6:4 OF ~hITIBII FUND O'CLOCK
3 ~er Cent. Reduced Arms.. BB:ri %34
!dew 3% per Cent. Aren5....... 89% %
faong Anus. to expire Jan.lB6o ... $ 11-16 5 4
Ditto, Oct. 10. 1859 ..... ...... 8%74
['idle Bonds, 1,0001.
Ditto under 1,000/. . .......
Consols for Account BB% %
w. 7. chequer Bills. 21,0. & 2d.
1,0001. March ... 42 45 p
1,000/. June 42 45 p
500/. March..,
5001. June ... 42 45 p
Small, March .. 42 45 p
Small. June
ruicEs OF FOREIGN FUNDS.

olirE
O'CLOCK.

C f 1,11,10
PRICES.
883

8 7-16
41 p
44 p
89 -

razilian Bonds
Buenos Ayres Bonds, 6 per Cent 2514
Equador Bonds
Mexican, 5 per Cent. 1846 25
Ditto, Account 251/4 25
Peruvian Bonds, 6 per Cents —
Ditto, Account 48% 49% 49
Portuguese 5 per Cents. —
Ditto, 4 per Cent —
Ditto, Account 26
Spanish _5 per Cent. 1840.
Ditto, 3 per Cent ...... 26th .
Ditto. Account ..... ... ...... .....
Dividends on the above payable in London
__ _

French Rentes, 5 per Cent. ...... 74f. 75f.
Belgian 4% per Cent
Dutch 21 per Cent., 12 Guild —
PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOCK. PRICES.
t berdeen 5O . ... 17 %a I7IA
Amber. Nott., Boston,
and Eastern Junction 414 ......
Ayrshire and Galloway.. 71A
I.elfast & County Down 20%
Birmingham and Os-
Mford Junct., calls duly
paid, or with a guaran. 20 -
Do, without guarantee 20 ...
Bit ming, Wolvorh'ton,
and Dudley, calls duly
pd, or with guarantee 10 ..... 15
Do. without guarantee 10 -
`,irming.,Wolverh'pton,
and Stour Valley 131. 145...
Birkenhead, Lancashire, •••
and Cheshire Junc.... 10 ......
130,t0n, Stamfd & Birm. 5 ... ..
Fristol and Exeter 9O ... .. 64
Ditto, Thirds
6uckinghamthire... 141. 4s.
Caledonian
Ditto, Half Shares .. 8 .74 ...... 2
Do. New 10/. Pref..... VA..— B;i3 8
Ditto,Clydesdale June 50
:hester and Holyhead... 50
Ditto, Preference l5
Clarence - .
Do. Ist Class, 6 per CL 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent.
Direct London & Ports-
mail
•••
Dublin and Belfast June. 35 ...... 5 514 4114..
Uundaik & Enniskillen 20
Fast Anglia, 251., L. &
E. and L. and D....... 25 ...... 4% 1,,1
Do., 18!., E. & 11. ... 18 . :., ... • '3%
Do., 31. 103.
East mi. Comities... ..... 20 •••••• 117/8 ....
Do. New Guaranteed
6 per Cent. .
Ditto, Extension, 5 per -
Cent., No. 1 61. 13s. 4d...: '—
Ditto ditto, No. 2 61. 13s. 4d... I/3 p par
Do. North. & Eastern 50
Do., 5 per cent.
Do. Quarters ..„ l2- —.
... ...... . .
Do. New
Eastern Union, Class A
(late E. U. Shares) 25
Ditto, Class A, ditto... 31/4
Ditto, Class B (L &
and B.)
~.

75f. -c.
76_14

- -
Ditto, Class 0, ditto... 20 .
Do. Scrip (6 percent.) 20 ...... 17%
I 'At° (C. & E.) guar.
5 per cent............ 214
East Lancashire
Liao, New
Ditto, New Quarters 614

-
17%

De., 6 per Cent. Pre-
terence Quarters ... 6!4
East Lincolnshire ...... 25
Edinburgh and Glasgow 50 ...... 41
Ditto, Halt Shares ... 20 .. ..
Edinburgh and Northern 25
Ditto, Newport
Exeter,Yeevil, & Dorch 2% —
tillasgow, Dumfries, and
Carlisle
‘.4lasgovr,Kilmar ,& Ayr 60 ......
Do. Preference Consul.
Great Northern
Do., .',2 A Deferred ... 121/2 4%
Do., % B 6 per Cent.
guaranteed ... ..... 6%. ..... 4% %
Do. Extension 2%...... -
,reat South. and West.
( Ireland) -
t resit North of England 100 ......
Ditto, New, 40/ 4O
Ditto, ditto
Ditto, New, 30/ 3O
Ditto, New,ls/ l4 .. .. ......... ......
Great Western 100
Ditto, % Shares 5O
Ditto, 'A Shares - ••
Ditto, Fifths ... 20
Ditto, New 171...... 13 ... ••
Huddersfield and kl, - - •• •••

____anch. 30
Ditto, Thirds
linll and Selby .. ...... 50
......109
Ditto, Half Shares ... 25 ......
Ditto, ~4 Shares .... 121 A.....
Lancaster and Carlisle... 50 ...... --
Ditto, Thirds
Lancashire & Yorkshire 93
Ditto, ditto ............ 66
Ditto, % 'Shares ...... 43 ... ..
••• •
Do. Quarter Shares... 17
Dc,. Fifths... ......... ... 10
Do. SiAteenths ......... 0,4 —
Do. Thirds (Reg.)..... 1:3 ..... 5Vs
Do. ..N ew, Gua. 6 per ct. 71,4 BVA
Do. Liverp. and Bury 43
Ditto 1,4 (late Hud-
dersfield and Sheila) 43
Do.(Wakelleld,Ponte-
tract, and Goole) ... 50
Do. (W. Riding Union) 7 ...,„ ... . ..
Do. (Prol-ton ii 6 Wyrt.l) 25
DO. 1/, Shares (A)„. wi
_,,f.'.1 i ::::ThnidiOrel ...... .50

Do., (blue) scrip..—.

9143

91
461,4

10%

I'2
6

21A