The Sun.
London, England, 1841-10-22 00:00:00

MONEY .MARKET and CITY NEWS,

FROM WV' MORNING PAPERS OF THIS DAY.
HERALD.— A Morning Contemporary has remarked
upon some irregular transactions in the market about
Exchequer Bills, and the exorbitant rates at which, in
some instances, money has been charged for advances
upon them. For instance, whilst five per cent. was the
current rate of the market on approved securities, seven
per cent. was known to he given or exacted in some in-
stances on Exchequer Bills. It is not necessary now to
explain the mystery of this sort of dealing, about which
nobody doubts there is something incorrect, and in re-
gard to the Exchequer Bills something extremely sus-
picious also. Something of an authentic character must
transpire shortly about the matter, which will then be
made public in course. At present there is no occasion
to make public the rumours in circulation, of which
more is known than it is now necessary to make men-
tion of.
CHRONICLE.—An operation of a mysterious cha-
racter in the Exchequer Bill Market, alluded to by a
morning contemporary, has attracted attention on the
Stock Exchange. It is difficult to account for the mo-
tives which could induce a real holder of these securities
to borrow on them at rates of interest so high as 6 and
7 per cent., and make it a condition with the lenders
that the ientical Bills should be returned. It is sur-
mised by some that the heavy sales of Spanish Stock for
money made to-day may have been connected with this
singular affair, on which we decline at present to give
any positive opinion.
We do not believe that Lord Aberdeen received
the deputation from the Committee of South Ame-
rican Bondholders because the Chairman, Mr. Ro-
binson, is a leading City monopolist, nor that he re
fused, or at least delayed, to grant audience to the
Committee of Spanish Bondholders from any traits
of free-trade principles lie may have discovered in their
correspondence with the Foreign-office. In the third
report published by the Committee, however, there is a
letter, dated the 10th June last, to the Spanish Minister
of Finance, by the Chairman of the Committee, in which,
after congratulating his Excellency on his promotion to
office, from which he was confident the condition of the
English bondholders would be improved, Mr. Thornton
expresses his confident belief that the resources of Spain
would be developed under the government of the Regent
by retrenchment, reform, and an enlightened commercial
policy. He also, in the same letter, makes the following
very important remarks :—" It is not for me to prejudge
the issue of the question now pending before the Legis-
lature of my own country respecting the duty on foreign
grain, but I may be allowed to state to your Excellency my
own opinion that the time has arrived when our present
Corn-laws cannot be much longer maintained, and I look for-
ward with great pleasure to a period not remote when,
in return for our manufactures, we shall receive-large
quantities of wheat from Spain." Mr. Thornton ad-
duces good reasons for expecting this reciprocity of
benefits to both countries by a repeal of the Corn-laws.
He sta`es in particular that the production of wheat in
the Peninsula since 1803 had increased one hundred fold,
and that, instead of being; importers as formerly, they
now exported wheat to the value of more than 500 mil-
lions of reels. It is possible that Lord Aberdeen may
hare found traces of these free• trade principles in the
archives of the Foreign-office. It is also perfectly true
that Mr. Robinson, the Chairman of the Committee of
South American Bondholders, is an active and influen-
tial monopolist. It is also true that his Lordship re-
ceived a deputation headed by Mr. Rubinson, while he
overlooked or refused a previous application from the
Spanish Committee, made several weeks ago. All this
is clear as sun-light, and leaves his Lordship's impar-
tiality open to strong suspicion. There is, indeed, only
one distinct and proper way to remove the doubt, and
that is by immediately naming a day (if he has not
already done so) to receive a deputation of the Spanish
Committee. Lord Palmerston was always accessible to
the gentlemen who represented the bondholders of the
various non-paying States, and he never failed to attend
to their statements and wishes. If he erred at all in re-
gard to this point, it was, perhaps, in being too open to
their approaches. That, however, is an error (if error
it was) which his successor seems resolved to avoid.
The deputation of foreign bondholders from the City of
London appear to be in as bad odour at the Foreign •
office as are those of the starving manufacturers from
the provinces at the official residence of the First Lord
of the Treasury.
ADVERTISER.—The growing trade of Russia has
frequently attracted observation, and the quantity and
value of the merchandise brought forward at the recent
fair of Nischny Novogorod, is a convincing proof of this.
Among the items we may notice 300,000 pciods of iron,
all sold, 36,000 poods of copper, 40,000 chests of teas,
nearly all of which found buyers, though at lower prices
than last year, when the supplies were expected to be
stopped ; 3,000 casks of sugar, and 1,300 chests
of indigo. Of Russian silk and half silk fabrics
for seven millions of roubles, assignats were sold ;
of cotton goods, for 30 millions ; of woollen, fur eleven
millions ; and of cloth, for six millions of roubles.
Cotton yarn, red dyed, 11,000 poods ; linen 15,000 ;
arschines about 12,000 yards ; fur manufactures for six
millions of roubles ; brandy, 25,000 wedros, or about
68,000 gallons ; and red and white wine, 150,000 wedros,
or 408,000 gallons, with a good sale for all. Iron was
rather flat. The total amount of the Russian goods at
this year's fair was 35,159,685 roubles, against 29,922,493
roubles, at the fair in 1840. The supplies of goods from
Europe, not manufactured in Russia, were for 2,019,421
roubles in 1840 ; and for 2,086,407 roubles in 1841. This
year the value of woollen fabrics from Europe was
195,700, of cotton and yarn 309,200, of linen 149,800,
of silk 198,000, and of wines 922,000 roubles. A com-
parison with the figures given in the earlier part of our
statement, will show how large a proportion of the ma-
nufactures must have been domestic.
TIMES.--The announcement of yesterday respecting
certain new and suspicious appearances in the Exche-
quer Bill market has drawn • an anxious degree of atten-
tion to the subject. in all the higher monetary circles.
Few additional facts as yet have transpired, but it may
be mentioned that the practice of raising surreptitious
loans at high rates of interest on the deposit of Exche-
quer Bills is now stated to have been going on for two
or three years, .and perhapsmore. it has also transpired,
which tends still more to throw suspicion on the origin
of these operations, that when attempts to borrow of the
regular money-dealers have proved unsuccessful, the
parties have been driven into private channels, as if
anxiously seeking for all persons who have money
at disposal, a fact which has come out on the infor-
mation of the parties themselves, and who have ap-
plied to their bankers for advice, whether there would
be any impropriety in lending their money at 6 per cent.
It appears, also, that the advice given in such cases was
to have nothing whatever to do with it. There appears
little doubt that the conductors of these operations have
become somewhat alarmed at the public notice taken of'
the subject ; that they have done nothing with Exche-
quer Bills to-day, and are supposed to have shifted their
ground, since some large sales of Spanish Stock which
have taken place to- day are very much suspected to be
only another mode of raising money by the same parties.
Though this is the only information at present to be ob-
tained in the City on the subject, it can hardly happen
hut that some further discoveries must shortly be made,
as most of the large money-dealers will now have a very
quick observation upon every thing that is passing.
Several of the shareholders of the United States Bank
in this country are of opinion that they should take ad-
vantage of the presence here of Mr. Jaudon, and call a
meeting to request him to assign a sufficient cause for
the depreciation of their property, at the same time en-
deavouring to learn the real position of the bank, and
the value of the assets compared with its liabilities. At
such a meeting they consider Mr. Jaudon would be
bound to attend. That a meeting should be called has
been an opinion among several of the shareholders since
the time when they found their property disposed of
without the slightest regard to their interests, but there
has always been a degree of lukewarmness, or, rather,
perhaps an unwillingness to acknowledge themselves tit
dupes
of such a swindling institution, added to a doubti
whether much good could result, that has prevented the
desire from being carried into effect. Now there is
really a definite purpose, and an opportunity which may
not again return, it is not improbable that a meeting may
be called.
SUN.—The Stock Market still wears a steady appear-
ance, but until something definite is known respecting
the issue of M'Leod's trial, it is not to be expected that
any parties will be over-anxious to invest large sums.
Consols, even at the highest present rate, are 2 per cent.
lower than they were six weeks ago. For immediate
transfer Consols were marked 88 to 874, and for account
884 to 88+. Exchequer Bills were not higher than 10s.
to 12s. premium, and East India Bonds only ranged from
Is. premium to par. Bank Stock was low again, viz.,
163 - to 1624 ; East India Stock only brought 2424 to
944. The /4ew Three-and-a-Half per Cents. were 97+
to and the Three per Cent. Annuities 864 to 87.
and many parties
events
in
nn
thatthe country.
There is still a gap, as it were, in the intelligenea from
the North of Spam,
ttlyn taiye
quite at a loss to -follow the garbled statements of the
passing
gffer from this uncertainty,
and
TFeheenßcloi
npdres
and were to-day very flat. The Actives were nut quoted
higher than 20, and before the close of business they ceded to 19+ and 194. Portuguese New Five Te-
per Cents.
realised 29 only, and the Three
per Cents. 17+. The
Old Five per Cents. im • •
proved to 454 ; Mexican Bonds
were worth 234 to 24, and Colombian 184 to 4, Brazil
Stock was
rather firmer, and rose from 494 and. 504 to
51 and 514 ; Danish Bonds were at 784 ; Dutch Two-
and-a-Half per Cents, at 51+ to 4, and the Five perCents.
at 99i to +.
Shares were in as little demand as ever. Great Wes-
tern.were 10, the New 4 to 44 ; and York and North
Midland 29 premium. Brighton were 114 to 124 ;
Croydon 4, Bristol and Exeter 334, South Eastern and
Dover 24 to 244, and North Midland 344 discount.
Union Bank of Australia Shares were 44 premium.

An itinerant vender of play-bills was run over
on Monday evening, in the Strand. He was running by
the side of a carriage, holding up his play-bills to the
window, when his foot slipped, and he fell completely
under the vehicle, and one of the hind-wheels passed
over his body. The gentleman who was in the carriage,
on being informed of the accident, gave his footman a
sovereign to give the poor boy, with strict directions to
see him safely conducted to the hospital.
NORWICH, OCT. 20.—A meeting is about to
be held in St. Andrew's Hall, to take into consideration
the existing distress. The distress in this city is dread-
ful, in consequence of the war price of provisions. It is
now quite out of the power of many of the middling
classes of society to obtain a sufficiency of food.; to say
nothing of the miserable and destitute poor.
1 .t.
vial,
nri
where
rEe e
ntilglnisiessshimfsrtoaemrns.
The Times says, " Lord Lyndhurst is the first
Englishman who has received the)isssteonanlo,st
Ile
iSso Sovereign.
American,ign. Lord Ih,eyrnndl:lut rsßt (
and brought his family
t her,
commenced,
Examine
ywehternestihdee. Copley, the pantor, left Boston
troubleshlisfa
with him to England,—Cheltenham r.