The Sun.
London, England, 1847-10-22 00:00:00

. 1.,1t1r, THURSDAY EVENING.
T.I.MES..—.The condition of the English Funds
during the early. part of the day was one of steady
improvement, but the close of the market shows a
heavy depression. The first price of Consuls for
money was 80 to. I, whence, after a slight decline,
they rapidly advanced, under the influence of conti-
nued purchases on the part of the public, to 80,1. At
this period two very considerable sales of stock for
delivery on Monday took place, and the consequence
Was a sudden reaction at 79k, at which price they
cloied buyers. For the account they opened at soil
to pc, advanced to 81k, and closed at 80i to i.
Gold to the further amount of 40,000/. was received
at the Bank to-day from Amsterdam.
Tne suspinsion of the Newcastle Union Joint-
Stock Bank was announced this afternoon. The
Institution, it appears, opened at the usual hour to-
day, and business was continued till the arrival of
the south mail, when the following was posted on the
door:-
1 " The Union Banking Company, in consequence
of the difficulty in the obtaining discount, are under
the painful necessity of suspending payment."
Much excitement is said tD prevail. The Union Bank
was established eleven years back, with a paid-up ca-
pital of 152,4001., and not many months ago its shares,
on which Si. were paid, were quoted at 8/. to 101.
The number of partners 'is 50.5. An unfavourable
liquidation is expected, large advances, it is alleged,
having been made on collieries and other property
of that description. As in the other cases of joint-
stock bank suspensions which have just occurred, its
London agents (Messrs Barnett and Co.) are entirely
untouched by the event.
The.resalt of the application of Mr. Littledale, of
Liverpool,,to.the.Arak. ccEniail, Aragasked,...after
the meeting of the Court. The Bank hilve agree
to advance all that is required (a sum which it is
said, exclusive of the acceptances of the firm held
by the Bank, does not amount to more than 50,0001.)
fuapoot
ino
ocondition
the Ban
oa fo
ks e
scoulri t i
oiy t
or being.
All
deposited s
question,ite dt o the sati
therefore,s
as to the position of the house may now be considered
to have been removed.
The private letters from Liverpool this morning
are generally more satisfactory, the intensity of the
pressure having decidedly abated. From Manchester
the accounts, on the whole, are rather remarkable
from the absence of expressions of alarm.
The inspectors appointed to carry out the liquida-
tion of the affairs of Messrs. Giles, Son, and Co.
(whose failure took place on the 13th of August,
and whose statement, showing a dividend of 12s. 6d.
in the pound, was published on the 23d of September),
sheatvs ea
sp rtooc eeded s o f
enable
them a in h r
to
declaret e realisation
a
first
dividend
a s-
of
6s. Bd, in the pound, payable on the 10th of November
next.

The advices to -day by the Indian mail attracted
considerable attention, as will be the case now or, each
arrival for many months to come, owing to the critical
way in which the liquidation of the failed East India
houses in England will be affected by the state of the
markets on that side. As far as they prospectively
bear upon this point, the accounts by the present mail
cannot be regarded as very satisfactory, since at the
date of its departure active shipments were still taking
place, especially of rice and sugar, which will be dis-
charged here upon markets depressed far below any
anticipations that may have been formed. On the other
hand, there is a general increase of firmness as re-
gards our manufactured goods both at Bombay and Cal-
cutta, as well as at Canton—a circumstance which,
taken in connexion with the accounts by the last
mail, may be held to indicate that the monotonous
and almost hopeless decline which had so long pre-
vailed has at last been fairly arrested. The exchange
also is rather more favourable, and the money market
comparatively easy, with a prospect of much further
improvement whenever it may be decided to close the
Government loan.
The accounts from the Amsterdam Bourse speak
of the continuous fall in the value of Dutch Stock,
owing to sales 'effected on behalf of English holders.
Spanish had recovered in a slight degree, the specu-
lators lately manifesting a greater disposition to deal
in those particular securities.
4CHRONICLE.—The Public Funds opened this
ruin with considerable firmness. A sudden de-
cline , took place towards the middle of the
(lay, quenbe of a report that an eminent Mer-
cantile se Averpool had been refused accom-
modation Bank of England. The circum-
stance attrac ed he more attention, inasmuch as the
firm in question was believed to be able to show a
condition of affairs which in any ordinary times
would be deemed both prudent and satisfactory, and
the inference was immediately drawn, that if assist-
ance was refused to such establizhments, that others
might as well close their doors without delay. The
facts, however, turned out to be different from the
general impression. The Bank has afforded the aid
which was required, but in the shape ofConsols, which
sold, partly for money an,l the remainder for ac •
count, caused the fall in the market by which
the temporary panic was occasioned. The inability
of the Bank to afford assistance in money to its ap-
plicants is the feature which will be the most re-
marked on in this arrangement, but the peculiar
position in which the directors are placed will afford
a solution to the question. There can be no doubt
that on the Bank is now thrown all the weight of
demand for accommodation from the different branches
of trade, and there has been evident the desire to
assist all bona fide claimants to the utmost of its
power. But the resources are limited, and with
treble the means at its command, if a general distrust
such as exists just now were prevalent, all the dis-
counts which could be given would only be so much
more money, in the shape of notes payable on de-
mand, to be forthwith lodged in the strong cellar of
the banker, merchant, or frightened capitalist, as the
case might happen to be.
To-morrow night's Gazette will contain the state
of the Bank's account up to Saturday last, and under
ordinary circumstances, after the repayment of the
large sums lent prior to the dividends becoming due,
the publication would be expected to show a fair face
and condition. But we cannot spend our money and
have it. If the Bank is subject to a drain similar to
that under which it has laboured for the last month,
and yields to the demand, as in justice it should do,
within the bounds of safety, we must make up our minds
to the fact that the reserve of notes will be the item
from which the advances have been made, and that,
consequently, it is scarcely to be expected that the
return will bear an improved aspect to-morrow. This,
however, is in reality of little weight compared with
the actual position of affairs. The storm seems
gathering on every side, and each disaster threatens
to bring increasing mischief in its train.

AERONAUTICS.—MF. Green, the English aeronaut,
made his 17 4th ascent on Sunday last at Brussels, tak-
ing up with him an officer of the English navy, and M.
Bischoffsheim, :son of the banker at Amsterdam. After
floating in the air for about two hours, and having at-
tained the height of 2,500 yards, Mr. Green and his
companions alighted safely on the plain outside the gates
of Lierre. On the appearance of the balloon the com-
mandant of the station saluted it by hoisting the national
flag, which the aeronauts returned by Raving the Eng-
lish and Belgian colours which they had with them.
On the same day a M. Godard made an ascent from
Lille. But his aerostatic apparatus was too econo-
mical, and, as it proved, dangerous ; for his balloon was
of paper, and his car consisted only of a deal plank. In
the ascent the balloon had several fissures made in it,
and the gas escaped in large volumes. After rising to
about 40 yards it sank again, and was caught by a
chimney. M. Godard was dragged along the roof of
the house, and struck on the head by the bricks forced
from the chimney. At length, however, he was able to
make his escape through a skylight, and got down to
terra firma with only a few slight bruises, Three aero-
nautic ascents took place on the 17th at Bordeaux—two
by M. Meyer and M. Beckmann, and a third by Madame
Masse. The two gentlemen descended without accident
near the town ; but the other balloon came down on the
roof of the house occupied by M. Ezpeleta. By some
chance the cords which connected the balloon to the
car got cut across, dividing the apparatus in two parts.
Fortunately the net-work of the car caught in the
corner of the entablature of the house, and remained
there suspended. The slightest movement would have
precipitated the whole to the ground, and the utmost
alarm was felt for Madame Masse's safety. Ladders
were brought, but they proved too short, and she was
obliged to remain in her very unenviable position for
nearly ten minutes. At last longer ladders were pro-
cured, and she descended in safety, amidst the cheers of
the spectators.— 6alignani's Messenger.
ESCAPE FROM PRISON IN JERSEY.--On Thursday
afternoon between one and two o'clock, two porters took
into the prison a new bureau bedstead, and brought out
an old one, in which a debtor named Wake, son of Sir
William Wake, was secreted. They carried their load
into the heart of the town without exciting any sus-
picion, and the prisoner got clear off. He was not
missed until the turnkey went to lock up his room, upon
which, after every search had been made, information
was given to Mr. Sullivan, chief clerk in the Viscount's
office, about eleven o'clock at night. Wake escaped to
St. Malo by the steamer which left on Friday morning.
—Jersey News.
METROPOLITAN BENEFIT SOCIETIES' ASYLUM.
The Venerable Archdeacon Manning has
has presented a
he f:—ollowing
Societies ng
donation of five pounds to this Asylum
Societies have recently become c9ntribu.torTs
Clerks' Benefit Society, the Lewish am Friendly Society,
the Charlton Friendly Society,
eSioectiya.l Britons'
!male
Society, and the Bilye • h
Benefit
Society.