The Sun.
London, England, 1841-03-22 00:00:00

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF THIS DAY.
TIMES. —.All arrangement of the greatest public ire-
pottance is on the
Esse. India pm" of being concluded between the
Steam Navigation Company. It is well-
rcte with
Company and the Directors of Vie Peninsular
and OrienOrientaltea
known to all persons co~ netted lndia how groat and
constant an eif,rt has beenie
made
o (steed the advaioages
of steam communication to Ceylon,
for not rsaist-
Madras, Calcutta, and
other
Places besides Bombay, and bow much blame has
teen thrown on the Eat India Company
ir,g cordially in such evension. They arc now, it seems,
about to relieve themselves fpqm that imputation, if
net by taking the whole metier under their own
by lending very powerful
assistance to other parties with whom there is every
superintendence, at least
prospect that what is required will be done effectually.
ney have, theref•re, proposed to the Company abov
grant them
mentioned to a prrmuro of 20,0001. per
.
annum for five years, which ui 1 commence as soon
first of their vessels of 1,600 tons a aOO horse
rind r as
the
pone
shall be put on tie line between Ca'
cutta and Suez, an d
with the further stipulation that within
one year from the
date of the first voyage, an addi • tion shall be, made for the
set vice of tin of t Illietwo vessels of equal power. Thi
. tis imicppr 'lent of
gr:.b ~ any contract for
the
moil
on
~,c, r
.. the conveyance of
II roue mentioned that may setbzwitto t

E VENIN G EDIT lON

be entered into, only that it is to merge into any
such contract us may be concluded in the course of
the five years in which the premium or gratuity is
to operate. The East India Company will thus b
placed in a situation to judge of the competency of
the parties to fulfil the higher duty which would be
confided to them, in the event of their having the cone
veyance of the moils on so important a route before
they thereby subject the public to any risk. The pro-
ceeding is, therefore, both a judicious and a liberal one ,
on the part of the East India Company, who still main-
tain
their ofginal engagement with Parliament, by con-
ducting it upon their own responsibility. So much has
been-done already by the Oriental Company that little
doubt seed now be entertained of the success and of the
extension of the project. Thus will the " comprehensive"
scheme, but by means differine fenn those at first con- I
temphted, be at length cartiacrou*.
It is understood that at the meeting of the Committee
of Stinnish Bondholders held this day, it was egreld that ,
since all communications between them and the. Govcrri-
naent of Spin had proved unavailing, aeplication should
be made to P.rliamcnt to take tome sups to enforce their
rights. Such a propcni..ion can, hosever, be only corei- •
dered as a pr&iminary step, since the consent of the Bond-
holders generally would be regnired before application to
the L-gi3lature could be actually made.
The sufferers by the failure of a speculator out of the
house as long back as the October Account are renewing
their complaints, stating that altbough hopes have from
time to time Leen held out that the matter would be finally
arranged, nothing has as yet been done towards it. Coe-
sidering that ore class of creditors have received payment
in full, it seems too much to expect that the other class
shou'd accept a small composition when the sum itseF, as
cozier:cos I with the character and ill :CaCC of the parCe;
concerned, is so trivial in amount. However, with regard
to all tbi,, it should be stated, as on the other side, that tl-.e
portie; who have so paid various claims in fell are in no
way legally liable for them, and they allege al .o that they
haee made the distinction in favour of those who love
been paid in full, through the notion that the parties were
really necessitous.