The Sun.
London, England, 1841-09-18 00:00:00

EVENING SUS.
MONEY MARKET and CITY NEVI'S.:

FROM THE MORNING PAPERS OF
TlMES.—There has been so long an expeannien rm
the city that recourse .wauld be had Government teal-
loan, and that all the financial difficulties of the country;
would be solved 'by some sweeping measure, that the
declaration of Sir Robert Peel last night that the sum or
nearly 2,500,000 L would have to be provided for the,
current year, and that further financial measures would.
not be submitted to ,Parliament during the present
Session, has given a decided firmness to the Public
Securities. Previous expectation-was not confined, even
to a funding of Exchequer Bills, but it was anticipated,
that there would be a fresh creation of Stock, and hence
the beneficial effect of a declaration which amounts to•
no more than a notice of a vote of credit: • But there are-
other causes which tend to remove a depression in the •
Money Market, and' which make the Stocks assume
their 'natural buoyancy, The French loan was
expected to be -. of such magnitude, and the idea.
was at times so prevalent that it would draw
a great quantity- of - money out of the country,.
and thereby create an adverse state of the exchanges,
that it hung like a dead weight over the Money Market,
and rendered every operation uncertain. Now it is
known that the amount of that loan is only 6,000,0001
instead of 40,000,00C1., an amount so trifling that it is
not to be expected the Paris bankers will . allow any
portion .of it to find its way into our market, one cause of
uneasiness is entirely- removed. The belief also that
France is better disposed towards the present than to-
wards the late Ministers also has its beneficial effect, not
so much shown by an advance in the quotations as by an
increase of firmness and general confidence. There is
always a constant investment in Consols by the publida
and almost on every occasion the bona fide purchases:
greatly exceed the sales. Hence, the natural tendency is
always to a rise, without any further impulse than the
mere removal of a depressing cause. When left to the
full operation of public action, the English Securities rise
almost as a matter of course. Nevertheless, the Money
Market is, according to some accounts, rather uneasy,
from the great depression of trade and demand for
money, which has not affected the Funded Securities.
The failure of Messrs. Hobhouse and Co., of Bath, has
occasioned little or no effect in the City. The cause is
said to be their connexion with some of the clothiers of
Wiltshire, whose acceptances they held to a considerable
amount. The other local Banks had kept their supp Fee
in London, and were so fully provided, immediately on
the failure of Messrs. Hobhouse and Co., that they have
not been in the slightest degree effected by that event.
The whole liabilities of Messrs. Hobhouse and CO. in
the shape of notes and deposits, are said not to exceed
100,00ut
ADVERTISER,.—The Brazil mail has not arrived:
yet e .but aceseants via She United States, we -hay' •
-,teW items' of ne7,-.--,•4 d*fi•ing aaeaesing notiei;. A intar4e
other things, we notice 'the account of an aifsir, ivLich
n'eserves attention, viz., the delivery of n forger bynhe
Hamburg authorities to the Government at Rio. The
necessity of repressing crims in all parts of the world,
moi e especially where breaches of trust are concerned,
has long been felt, even if no decided course of action •
has been adopted in reference.thereto, and if some exer •
tion had been made by the different Powers, we should
have probably heard less of those infamous cases of
Swartwouting, or robbery of bank tills and public trea-
suries, by the cashiers in different parts of the United
States. 'That it is considered a subject worth negoci-
ating upon, we have every evidence from the fact of
several nations in their treaties of peace, the French
under Napoleon, for instance, having introduced clauses
expressly providing for the mutual delivery of all refu-
gee criminals, not political off, nders, at the demand of
either Power. The particulars of the present case, as
they appear in the Rio accounts, are briefly thdt, about
the beginning of this year some large bills, accepted by
one of the first Brazilian houses, and discounted at Rio
by various merchants, were refused payment by that
boes,e, alleging that the acceptance was not its own, and.
many COnfitOing opinions were afloat, which the lawyers,
not better there than elsewhere, tried to confuse as much
as was in their power. The amounts were from 3,001.
to 4,000/.
The project for a railroad in Brazil had been taken up
with much warmth by
.the Government, as the state of
the internal communication rendered something of the
kind very desirable.
The exertions snaking by Surra y Rull to place the
finances of. his country in an easier position, have in-
duced some parties here to invest again in the Spanish
Securities, which have in consequence iniprove d to-day,..
the Actives haviog touched 22 to For the other
Foreign Securities, there is, however, but little demand
or inquiry at present. and this is especially the case with
the Portuguese and South American Bonds.
POST.—Money has been scarce, which is to be attri-
buted to bank failures announced yesterday, and.the ina-
bility of certain houses connected with the retail trade
to arrange their acceptances in a satisfactory manner,
which were returned on the 4th of the month. Report
speaks favourably of the state of the affairs of Messrs.
Ilobhciuse, and that very little, if any, loss will be sus-
tained by the creditors. It is generally considered that
the sole cause of the stoppage was the sudden embarrass-
ment occasioned by the failure of the woollen house :and
their connections, mentioned 3 esterday.
The appearance of advertisements announcing the
payment of the present half-year's interest due on the
Chilian Bonds, speaks highly for the good faith of the
Gee-en:went, and for its punctuality since it has resumed.
From t-Le exertions which it has made to meet its en-
gagements, AS far as it was able, with the foreign credi-
tor, some arrane,ement, no doubt, may be shortly ex-
pected to liquidate . the' overdue Coupons. The price
which the Stock heere at present; in comparison with
the value of that of other States in pnssession of advan-
tages not greater than those of Chit, will doubtless
prove to them'all the necessity of keeping up the na-
tional character, laid what is the result of such exer-
tions. The means taken to improve the natural re-
sources and commerce of the country have hitteerto not.
been unsuccessful ; and if the plans already fortn.ed be
fully carried out, n' reason exists but that Chili will
again stand high in monetary credit.
CHRONICLE.—The depression in the English Funirs
yesterday was produced by an apprehension that thee
Premier would allude to proposals fur a new loan or for
new taxes. It appears that he prefers the hacknied
juggle of an issue of Exchequer Bills and thimble-rig-
ging with the Bank of England, as the means of obtain-
ing " a temporary provision" to meet the deficiency of
the year, and thus endeavour to hang cut from hand to
moeth until February. No wonder that Lord John Rus-
sell should have stated that he heard with deep concern
the Prime Minister of the day declare that he di l not in-
tend to bring forward any measure during the present
Session for the purpose of equalizing the revenue and
nnnenditure, of the 'country. There is an annual deficit
of-2,SCf.hOcCI, and an absolute cumula deficiency •of
7,500,000/. in the public exchequer. The tax-bearing
resources of the country are exhausted. The ex
the
port
trade is languishing and wasting rapidly away,
while
masses in the manufacturing towns are starving. The
mil-lowncrs aro working half time, and some of them no
time at all ; the banking interest; are
.disquieted and
fearful ; the exchanges show an unfasourable balanne of
trade, and our stock of bullion- is but trifling. Insel-
vency and bankruptcies are occurring in every quarter:
The produce of the harvest is deficient ; a g; eat change
has taken place in the political administration of the
country, and the head of the successful psrty for power
comes forWe.rd, after an interval of several months, to meet:
the Representatives of the people. Under these extraordi-
nary circumstances, the chief thing the spec.:ons Sir
Plausible does is to move for certain papers conn'o'ted
with measures " for warming and ventilating" the tevo
Houses in which the Members meet to deliberate on the'
affairs of the nation.
The Continental Exchanges again show a tendency to
give way, and in Hamburgh and Amsterdam business
was transacted at lower rates than last post day.
We understand that the affairs of the Nottingham and.
Nottinghamshireßanki
ng Company have been examined,
•
and that their position is such as to lead to expectations
that they will soon be enabled to resume business. Many
of the Shareholders are wealthy.
SUN.—The slight depression observable in the Money
Market yesterday was relieved to-day (the failure of
the banking firm of Messrs. Hobhouse and Co., at Bath,
which, it was supposed, might influence the value of
stock, haying produced no effect), although money to-
day in the Discount Market commanded a full rate of in-
terest. For present delivery, Consols have realised 891
to 89+, and for the Account 90* to 1. Exchequer Bills
have been done at a premium of 12s. to 145., and East
India Bonds at 2s. to' 4s. premium. East India Stock-
was a shade better—viz., 247 for Money, and 247* for
Account. The New Three-and-a-Half per Cents- are
again as high as 99, and the Reduced Thrce-and-asllsif
per Cents. were at 991, special transfer.
Spanish Stock was the only foreign security in which
roved
there Was a sprinkling of business, and fir'
imp
slightly in value, the Actives having touchedrter:e 1-
For the other Foreign Securities there
an this
b?
especiallybu
little demand or inquiry at presen-t7 lsanßonds.
the case with the Portuguese and South Anentp t,ents. Rends,
Brazil Dutch Two-
, Brazil Stock was at 68, French Threl
- were done at 77f. 50c., Danish at 794,
. and-a-Half per Cents. at 51+.
Great Western were to-
-44 Shares are still rather flat.
day at 13i to 124-, Newto'
i 2 don and Birmingham at 68,
d South l'4; 1
the New at 4i, the Fifths Let 31- Lon-
-42 at
- York and North 'Midland 2544
to 3
Blackwell 141
3 discount.
Blackwell Nev
and South Eastern at 24 .
12* premium. Brighton eto ..)4,
Shares were 2i premium. In the Joint-Stock Banking
Shares there were no bargains.
The Foreign Exchanges were heavy again this after-
noon. Bills dated at three months were generally nego-
tiated as follows :—Paris, 25f. 00e. to Gsc.; Amsterdam,
12 3i- 4 ; Antwerp, 12 3-1 to ft ; Hamburgh, 13 9+ to i;
Frankfort, 149 to *; and Trieste, 9 50.

8. to 8 .
40 Lf,

TALACRE COAL AND IRON
COMPANY.
TO THE EDI7'OI? OF THE SUN.

n—l beg leave to correct an error in the report of what
I, as Chairman, stated at this meeting.
I stated, as the fact is, that I had myself paid 2,0001. into
this Company, and was in advance 6001. more ; that Mr.
Taylor, Mr. Wild, and Mr. Shaw, other bona fide Share-
holders, had respectively paid 1,1001., 2,000/., and 10,0001.,
and that I could have had no desire to injure the Company in
wishing Mr. A shurst's Report to be read ; but that the seven-
teen persons who had originated the Company, including the
ten original Directors, I found by the books kept by the
Secretary, Mr. W. Weston, jun., the son of Mr. W. Weston,
one of the original Directors, had orly paid 1,700/. into the
Company. CHAPPELOW.

TO THE EDITOft OF THE SUN.
Siit—ln your report of this meeting you state me to be the
Solicitor to this Company. I was merely called in recently,
and requested to investigate the conduct of those who gave it
bit th. I did so, and the struggle was between those who desired
that the Report I made should be read, and those who desired
it should not.
Mr. Alderman Thomas Wood has acted as Solicitor to the
Company from the first.
I am, Sir, yours obedW. iently,
ft. ASHINIST.
137, Cheap Fide, Friday, Sept. 17, 1641.