The Sun.
London, England, 1841-04-09 00:00:00

LONDON, FRIDAY, APRIL 9, 1841

ROYAL POLYTECHNIC INSTITUTION,
REGENT-STREET.
FOR THE EASTER HOLIDAYS..
NEW APPLICATION of the OXYHY-
DROGEN MICROSCOPE (by Cary), its power
and light applied to Eighteen Beautiful Dissolving Pictures,
each magnified to a surface of 500 superficial feet. Among
the 1,800 works of art and science which the Exhibition con-
tains, are the PHOTOGRAPHIC PoitTRAITs, the M,g-
nified and Illuminated DAGUERREOTYPE VIEWS, the
PANORAMA of CANTON, the Table de Marischaux, the
Models in motion. Diving Bell and Diver, the. Electrotype
and other Popular Lectures, and the Buds Light.
The Band of Music performs from Three to Five, and from
Half.past Eight to Half-Nast. Ten o'clock.
Admission, One Shilling.

VUNERAL OF NAPOLEON.
GRAND DIOR AMIC VIEW of the PROCES-
SION at the INTERMENT of the REMAINS of the EM-
PEROR NAPOLEON, in which the principal figures are the
size of life, and every interesting incident of tlis superb spec-
tacle is faithfully depicted.• " In these paintngs," says the
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appearance of the actual ceremony ; while the general effect is
very much assisted by military and sacred music, which is ex-
ecuted during the Exhibition by concealed musicians."
OPEN DAILY from Ten A.M. to Five r.m., and from
Seven to Ten P.M., at the ST. JAMES'S BAZAAR, St.
James's-street.

TO LAND SURVEYORS, AND OTHERS EMPLOYED
UNDER THE TITHE AND POOR-LAW CO3II%IIS-
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A W and SO S he to draw the attention
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avoided, and a urveyor may with ease compute from 800 to
1,000 Acres of average work in seven hours. Price Iss. The
usual charge 21s.
London : Shaw and Sons, 137, Fetter-lane.

111,..RK8T and CITY NEWS.

FROM THE MORNING PAPERS OF THIS DAY.

C H RONICL E.—The intelligence of the settlement
of the dispute with China, announced in the Chronicle
this morning, has been received with great satisfaction,
and all classes are impress: d witti the importance and ie-
relculable benefits which may ensue to our trade and com-
merce from the opening up of so immense a market for the
produce of British industry. Throughout the day anxiety
ma; itatense to learn of further arrivals with details, and
Towards four o'clock it was generally expected that fresh
information would he communicated in a second edition ;
but at the close of business, and indeed up to five o'clock,
not Hee further had transpired in the City. The imme-
diate effectr upon the English funds was merely a rise of
1 per cent., arid at the close the quotations were only k
per cent. better than yesterday, Consols for the Account
nlirg opened a' 90 to for the Account, and left off at
89,E to 90. The Tea Market has teen sensibly influenced,
ile,ing immediately given way 3d. per lb. for Comp soy's
Cougous.
The disappeararce of a member of the Stock Exchange,
to which we alluded yesterday, continues to excite atten-
tion, atel we hear that 4,000/. in Exchequer Bills, belong-
Jeerb to the Decayed Fund, which he held as the treasurer
of that charity, are. not to be found. A point of some
iticet!-, very fit to exercise the talents of the gentlemen of
the long robe, is likely to arise out of the embarrassments
of this defaulter. It seems he obtained 2,000/. on the
6th inst., on a Bank check, from another member of the
house, for which he gave his own check, dated yesterday,
the 7th inst., for a similar amount in exchange. It is no
uncommon practice between members of the Stock Ex.
change to accommodate each other in this way by an in.
•er !flange of checks when a party, who has taken a large
amount of money stock, finds himself short of Bank notes
after transfer heurs, which prevents him supplying his de-
ficiency till the t:llOwing day.
In the present case it is understood that the defaulter,
whose credit was undoubted, applied to another member
of the house for a loan of 2,0001, for the day, saying he
was in want of notes to pay for some stock which he had
bought, and as he could not, o the hour at which he
Tidied for the accommodatien, transfer stock as a secur-
ity, he would give his check for the amount pay-
able on the following day, obtaining what he wished
for that day. namely, a crossed check, which would be
received as money at the clearing. The gentleman to
whom he typlied is said to have acceded to the proposi-
tion. but we hear that he also received dividend warrants
from the defaulter in security, and the nice question in-
volved is, la healer the Bank of England will pay them
when presented.
The dividends on Reduced and Long Annuities are
to-riay in course of payment to the public. But, as
regards banker:, a special rule is observed, to aysid
crowdieg and inconvenience, by which they sign the
B.tnk books two days before, and obtain their warrants
at the same time on the cashier. On the 6th instant the
defaulter in this case, who on that day signed the Bank
books for the stock which he had authority to draw
for as attorrey, received the warrants in exchange,
and before disappearance delivered part of them, to the
party as a security from whom he received the 2,0001. by
Bank check. At least, it is quite understood that the
party who gave him the check holds dividend warrants in
security, and the question comes to be. will the Bank of
England pay them when presented? Had the giver
of them not been a banker, the matter would have been
fri e from all doubt, as the seentiv could not have been
completed bsfsre this day ; bat in the case of bankers,
the books and warrants are signed, witnessed, and de-
livered two days before ; and it is miLitainea by some
that the warrants grantsd on that day to the defaulter were
valid complete documents of debts, payable to bearer.
Under these circumstances, it is supposed that the Di-
rectors of the Bank of England would be at some loss
how to act in the event of payment being demanded. It
is said that the proprietors of the stock, for whom the
defaulter acted as attorney, would, in the meantime,
give. the Bank an indemnity to protect them against the
consequences of refusal, and that a distringas would also
be applied for to have the question of liability settled in a
court of law.

HERALD.—The favourable tenour of the intelligence
communicated this morning from China, in anticipation
of the overland mail, ought, according to the anticipations
of the dealers, to have advanced the prices of stocks by
some 2, or 1 per cent. at least but no such effect was
produced, for Consols only reached 89i to 9efor money
and account, being a rise of a shade mote than per cent.
Admitting that ail is really settled with China, accord-
ing to the accounts now received, the fact is considered
only as the prelur'e to some other scar or wars, involving
a continuation of the same ruinous expense, and the issue
of which, as of the Dutcb, Portuguese, Spanish, Syrian,
Indian and Chinese wars serves only to impoverish the
national resources, and to afford an opportunity, as with
Holland and Portugal, to injure commerce and favour the
abolition of such commercial treaties as conferred privi-

losses on the trade of this country.
'Tee foreign market experienced the benefit of the good
news more strongly than the home foode, so that it might
reasonably be supposed the 6,000,000 dollars from China
were coming in wee payment of Spanish and Portuguese
dividends, and that the island of Hong Kong was ceded
as security for the balance.
A good deal of amusement was created in the City this
evening by a very pleasant vain-glorious article in the Mi-
nisterial ever.ii g sage, the Globe, the writer of which very
decisively intimates the very great disadvantages and heavy
charges incident to carryieg on trade at Canton, all which
are to be re novefl by removing the seat of trade to the
newly ceded port of Hong Kong, which is very clearly in-
dicated to be advantageously situate some hundreds, if dot
thousands, of miles northward of Canton, somewhere about
the great tea and silk districts of Chekiang, or Kiang,
or other hanging places, and therefore which nobody would
sus ect to be actually planed, as Hong Kong re illy is, if
geographers, Commodore Bremer and Captain Eliot, are
to be believed, right at the door of Canton, that is, just so
near as to be considered the knocker of the door of Can-
ten. The evening sage of the Foreign-effico moreover
complacently aestivates that the scat of British trade is to be
established at Hong Kong, and descants accordingly in
mess fervid prose on the conquests achieved by Foreign-
office statesmanship in favour of British trade. Any City
dealer in Bohea and Souchong, however, would inform
this wooden-headed mandarin that the little islet of
Hong Kong would hardly contain the little establishment
of Cie Glebe newspaper, which certainly does not cover an
ace of ground, arid that in fact it could hardly warehouse,
if covered with buildintz,v a thousand chests of tea, t 3
say noti;ing r f cotton bales, cotton and woollen goods, &e.,
intported. It is hard to be obliged to teach the up-grown
dunce of the Globe a little geography, but it is respect.
fully submitted that British trade i 3 to .be carried on as
het etofore at Canton; that Hong Kong is merely a site
at the mouth of the river on which to construct a fort,
mount a few guns and establish a small garrison, under
favour and cover of which British shipping' may anchor
with and for safety, whilst waiting for the "chops" to be
expedited for proceeding up the " inner sea," or river of
Calton, to th it port, an affair of form I.ke that of waiting
for a pilot off Deal or Dover, or, as tri old limes, ca'ling off
Gravesend for a license for London. Hong Kong. there-
fore, it is clear,
is not 1,000 miles from Canton, and B
tish trade and traders will he just as much indigenous in
the Canton market as heretofore.
The Globe moreover magnificently swells about the ex-
pectation of receiving its overland India despatch in time
for a second edition, to be published for the benefit of its
readers. Tbis is, as the City folks say, coming the " very
grand" with a vengeance. Hitherto the modast evening
ladron has been content to borrow its India despatch from
the first and second editions of the, morning papers; and
in the present instance ck 1 cul ate 3 , as it thought securely,
on a late second edi ion of its morning leaders for the
usual supply, from the report universally current of the
arrival of the overland despatch and the intended publica-
tion of it in second editions of the morning papers. Un-
happily the Globe was disappointed, and of course will
have to account to-morrow fur the non-arrival of its own
overland India despatch. Nobody ever before suspected
th Globe of the enormous prodigality, of which its morn-
ing feeders are guilty it must be owned, of expending
about 1501. en one India despateb. But not content
with overland despatcher, the Globe claims credit mor-
over for rec. iving early news from China by way of
St. Petersburg and Kachta. The unfortunate scribbler
must conceive that people cannot put two and two
together to make four. For instance, in the Globe of
the 6th there was a report of favourable news from
China, the facts neither defined nor stated, said to have
reached town by way of St. Petersburg. Now the fa-
vourable intelligence reached Marseilles on the 4th, and
wwlaiseriemi would
mtediatly telegraphed to Paris on the same day,
be reed% ed in some throe or tour hours,
if decent weather. From Paris to Calais a few minutes
suffice, and a fee hours more to Dover and London. So
that on the sth instant, or on the moreing of the 6th at
the outside, it would be communicated from the French
k
per,
embassy here to the Foreign-office, I. om whence the ntu-
otiliaitteerd,
wouldreport by r
rain its origin, and credulously believed as from St. Pe-
tersburg.
Of course the Globe people cannot know it, but it
is altogether improbable, without a most extraordinary
vteho do
Globeie_ office, disfigured purposely
ce or humble attendant
and almost impossible combination of circumstances,
that the news of the termination of the differences
could have been received by the way of Sr. Petersburg.
For instance, the convention was concluded on the
29th of January, and might be in Canton on the 30th
From Canton :o Pekin the distance is about 1,500
miles, and through Pekin the news only could tran-
spire for Russia. But it was net likely to transpire
in a court so silentious for many days, and if it did,
where were the couriers to carry it to Kiachta ?
There is no post-office, mail-coaches, or railroads from
()akin to K;achta, moreover them Hie no diplomatic agents
rasident at Pekin by whom such news would be f gwarded.
The early transmission, when it occurs, and that once only
since the commencement of the Chinese dispute, is a mere
chance of commercial despatch, and casual combination by
which early arrival at Kiachta is achieved, fr,ra whence Si
St. Petersburg the course is more clear and speedy, ai
being an affair of the Russian Government. It may hop-
pen, undoubtedly, that Russia would take all th., mears
possible for early information in an affair w interesting to
her as relating to the fa.e of Chitin, and therefore so far
as on her depended news would be accelerated. But from
ICachta to St. Petersburg alone the journey by courier is
understood to occupy about 28 days Having taken this
pains gratuitously to vela the ignorance or education of
the evening organ, and of its principsl of the Foreign_
office, no more remains to be said.

POST.—The news rzceived to-day from India aid
China, though favourable, had been s, far " discounted,"
to use a Stock Exchange phrase. as to have had no effect
upon the value of the public securltipa, beyond the incon-
siderable extent of k to ti per cent.
The only additional fact of any great importance that
transpired to-day. in connection with the failure of Messrs.
Wakefield, the Stock Brokers, has been with reseect to
some securities held in trust by th:! senior i7artner as Trea-
surer of the fund of the decayed members of the Stock
Exchange. It appears that ha had deposited in his hands
n that capacity Exchequer bills to the amount of four
thousand pounds, and that no information has yet been pro-
cured concerning them to satisfy the Committee of Man-
agement of their safety. We have no great doubt, how-
ever, that funds of so specially sacred a character will have
been respected, whatever may be the defalcations of
Messrs. Wakefield in other payticulars„ The claims gene-
rally upon the firm arc found to be to the amount of about
66,0001.
It affsrds us pleasure to be be able to state, that there is
probably no reason whatever to suppose the suspension of
Messrs. Wakefield was in any way accelerated by the
circumstance of the elder of the firm having been surety
for one or more of the official assignees of the Court of
Bankruptcy. Mr. Turquand was, we understand, the
only porsoa for whom either one or the other of the firm
had taken upon himself th's responsibility, and, if any
unfavourable surmises respecting that gentleman be enter-
tained, the following communication which he has ad-
dressed to us, will effectually set them at rest