The Sun.
London, England, 1840-05-12 00:00:00

MONDAY EVENING.

TIMES.---More business than usual was clone to•
day in the Consol-market. Some purchases for the
Court of Chancery, and afterwards for private indivi-
dual-,, produced some effect on prices, but this was
partially counteracted by some sales which subsequently
took place. Consuls for Money opened at 91i, and
improved to 91,-} to 91i. For the account they opeced
at 911- sellers, rose to 91;: bu.vers, and left off 911 to
91i. The closing quotations for Money and the Ac-
count being the same, prove how abundant money is
compared with the demand for it at the Stock Ex-
change. Exchequer Bills remain at 225. to 4s. prem.
Rio de Janeiro papers to the 23d of February bring
the Exchange at 31, and the 6 per Cent. Local Stock
76. The rebellion of St. Catherine, though quelled,
does not seem entirely extinguished. Two of the chief's
were lurking about gathering force, and it required all
the vigilance of Marshal Andrea to prevent them from
doing mischief.
A work on the navigation of the Dee and the Mer-
sey has been published by Captain Denham under
the sanction of the Lords of the Admiralty, by wh:,te
order the survey in 1833 was taken, from which the
work emanates. The results of the first six months
of this survey were, that the new channel was lighted
and beaconed, the local intercourse of 13,000 sail of
vessels was provided for all hours (night or day) of
the tide, the 261 cases per annum of delay in the
mailboat starting for and arriving from Dublin di-
minished, while the local tonnage increased from
1,500,000 to 2,000,000 per annum. Captain Denham's
great object, into the details of which it is for profes-
sional , men alone
.to enter, is to show that by certain
changes he proposes to effect in the channel of the
Mersey and port of Liverpool, such calamities as the
wrecks which took place in January, 1839, may be
effectually guarded against. He appears not to have
met with the encouragement at Liverpool which so
great a service to the navigation of the Mersey would
seem to have called for, and it were to be wished that
his plans could be made generally more clear and
intelligible than they are, but we understand that at the
Trinity-house his work is regarded as a very valuable
one. It contains very minute directions for navigation,
with a great number of charts and drawings of light-
houses and beacons of various kinds. , Any proposition
of the nature of that by Captain Denham must possess
a strong claim on the public attention, and it cannot
apply to any . more important place in this country,
with the exception of the metropolis, than Liverpool.

SUN.—The English funds closed firmly this after-
noon, the purchases in the morning having had a favour-
able and permanent effect on prices. Consols for imme-
diate transfer were 91-,1,- to 91t, and for the Acceunt
91 to 91-a sellers. The New Three-and-a-Half per
Cents. went as high as per cent. above par.
The following answer was received this afternoon by
the Chairman of the Portuguese Bondholders to his
request that no new stock issued by the Government of
Lisbon shOuld be allowed to be transferred in the Stock
Exchange. It will be seen that the reply is 11141 y sa-
tisfactory, and that the regulation of the Committee
includes all foreign Powers. Henceforth, Toreno Con-
versions will live but in memory, as fresh attempts of
the same sort must inevitably prove abortive.
" Committee-room, Stock Exchange,
May 11, 1840.
" Stn,—l have this day laid before the Committee
your letter of the Bth instant, on the subject of fresh is-
sues of Bonds being contemplated by the Spanish
Gc-
vernment.

" The Committee direct me, in acknowledging the
receipt of yoUr communication, to put you in possession
of a regulation (herewith enclosed), on which they hate
acted in similar cases, and by which they will be go-
verned in all future instances.
"I have the honour to be, Sir,
" Your most obedient servant,
(Signed) " JAMES VAN SOMMER,
" Sec. C.G.P.
Thos. Tho:ntcn, Esq., Hon. Sec., &c. &c.
" REGULATION.

" The Committee will not sanction or take any cog-
nizance whatever of bargains that may be made in New
Bonds, or Stock, or any other Securities, issued by any
Foreign Government, that has not duly paid the divi-
dends on former loans raised in this country, unless that
Government shall have effected some satisfactory ar-
rangement with the holders of sea Stock, or Bonds,
or other Securities, on which the dividends have been
left in arrears'
After the answer of the Committee became known,
Portuguese New Five per Cents. rallied to 35, and
Spanish Active Bonds to .29. Belgian Stock was firm
at 103, and Dutch Two-and-a-Half per Cents. at 34.
Buenos Ayres Bonds were heavy at 15.
In the Railway Shares a fair amount of business was
done, with one or two exceptions, at about previous
rates. The Brighton Shares were at 54 ; the Midland
Counties at 4 ; the Manchester and Brmingham at
; and the Edinburgh and Glasgow at .5i discount.
The Glasgow, Paisley, and Ayrshire at 1 ; the Great
Western at 21 ; the Birmingham at 77A- ; and the
North Midland at 51 premium.

By the arrival yesterday at Portsmouth of the Montreal,
from New York, we have received American Papers to
the 20th ult. inclusive. A treaty had been concluded be-
tween the ,United States and Mexico, by which it is stipu-
lated that a Commission shall be appointed to inquire into
the claims of United States' subjects upon the new repub-
lic, and that, in the event of any disagreement, the lii figs
of Holland and Prussia will be requested to appoint ,an
arbitrator, 'whose decision shall be final. Should his Prus-
sian Majesty decline to interfere, the like friendly ale e is
to be sought at the hands of the Sovereigns of Great Bri-
tain and Holland respectively.
The excitement about the Boundary Question in the
States was rapidly subsiding. The following article friom
the New York Morning Herald of the 17th ult.—the
organ of the war. party—is sufficiently indicative of the
pacific intentions of the Federal Government:—
" THE NORTH-EASTERN BOUNDARY
QUESTION.
" At length we ;awe something definite h Com-
mittee ou Foreign Relations in the United State Sem tte,
in relation to this important matter. Mr. Buchanan, the
Chairman, has presented a report, in which is exhibited
the existing state of the pending negotiation. When Mr.
Van 13urcn consented to receive the proposition made by
the British Government for a new survey, he set
a counter project to England to be submitted to
her Majesty's Ministers ; which counter project in-
cluded a provision for the final and positive adjtests
merit of the boundary line in dispute. The British %go-
vernment have not acted on it, because not until the el ose
of last March was the result of the Boundary- Corrinli;-
sioners' (Mudge and Featirerstonhaugh) labours submita
to them. Mr, Van Buren confidently expects a specific co-
ply to this proposition early in May. He has stated, th at
-if it be accepted, it will at once finally settle the questicx a.
" It was. doubtless, with a full knowledge of the precise
nature of this project, that Mr. Fox wrote last January to
Mr. Forsyth, saying that he not only preserves the hope,
but he entertains the firm belief, that if the duty of
negotiating the Boundary Question be left in the hails
of the two National Governments, to whom alone of
right it belongs, the difficulty of conducting the negotia-
tion to an amicable issue will not 'be found Yr)
great as has been by many persons apprehendei,.
And in his re tie of March 13, 1840, he states that :he
has been. instructed to declare that her Metest] 's
Government arc only waiting for the report of the Brith sli
C,:mmissioners recently employed to survey the dispnti !ct
territory, which report would be delivered to that Goven a-
ment by the end of March, in order to transmit to the Go,
vernment of the United States a reply to their last taropoa
upon the subject of the boundary negotiation. This el i-
dently refers to the project of Mr. Van Buren.
" With regard to the occupancy of the territory in di ;-
pute by the troops or loafers of either nation, the C, ate-
mittee deem that a subordinate matter, and expect that the
anxiously looked; for answer of the British Govern tent
will render unnecessary any report on the subject of the oc-
cupancy, the barracks, soldiers, &c., at Temiecouta Li tke.
kt any rate there will not be more than a month of un,ser-
tainty on the subject at the outside.
" The Executive and the Committee seem animated! by
a common desire to preserve peace at every sacrifice short
of justice and strict national honour ; and are dcterntie ed
that if forced into a war, it shall be by the unjust condjett
of the British Government. They do not anticipan a a
war, although they express a wish' that the country she uld
be prepared fully for that event, as the dreadful-alto alas
tive may depend upon the answer of the Bri esh Govaern-
merit received in one of the next steam-vessels."

NEW YORK MONEY MARKET.
SUNDAY, APRIL 19, 6P. 14.—,We have again: a few.tlays
later dates from Europe. The markets wer !, hot never,
without any material change; money remained. the same.
Business in the manufacturing districts, contin Red Heavy,
and a slight further decline in cotton had taken place. In
the financial circles it was reported that the ,Chatteellor
was about to increase the existing taxes 5 per cent., or
about 2 000,0001., which, with the aid he expect a from, the
Bank, will be sufficient to meet the increased erpemEture.
In American securities there was no increased activity.
RATE OF SALES AT THE STOCK EXCHANGE.
700 abs Corporation Fives .... ............... ~...... 90
25 do. United States Bank BIO its 77
20 do. Mer Bank
40 do. Dry Dock ...
40 , do.. Bank of Commerce
37 do. American Exchange Bank
75 do. Delaware and Hudson
200 dO. N. A. Trust b6odi i 44
175 do. N. A. Trust
•
,
5 do. Canton Co .)5.1
25 do. - Mohawk Railroad - 67
150 do. Long Hand 53
15 do. New Jersey Railroad. b6O ds 81
20 do. Wash. Mr. Ins. Co 66
150 do. Stonington
25 do. Harlem Railroad 4s-
t THE SECOND BOARD.
50 do. North River Bank ................. • 31

•••
15 do. N. A. Trust
50 do. United States Bat k s6O ds 76X
30 do. Del. and Hud s3O ds 71
50 do. Harlem s3o after 10 451
40 do. Union Ins. Co.

STATE OF TRADE -There has been a little more acti. I
vity in the general markets, with the exception of tit e dry
goods trade, °Kin,. to an increased demand from an: city
trade. No marked change has, however, taken plt tce in
prices. The lower part of the city appears to b e un-
usually quiet for this season of the year. The at rivals
at the different hotels have, however, become mot e nu-
merous, but do not increase the activity of trade. Busi-
ness this year depends upon the movement of prloduce.
The 'Erie .Canal,
,it is supposed, will be opened to-
morrow, after a most vexatious delay. Last year • at; this
time the canals were in full activity ; but the holding I iolicy
then pursued by the speculators raised the prices unna-
turally high, and checked sales. The consequence was, a
large surplus stock, which is now ready to come to market,
in company with a very large new harvest, which will
depress prices much below what otherwise would have been
the case : the farmers thereby sustain a great loss, 1.)1.1t it
is a lesson which we hope will not be lost upon them.
COTTOL—There has been a continued fair demamd for
this article throughout the week, for export, at the prices
current last week. The condition of the southern and ,
western trade holds out little encouragement for spinners 1
to come into the market ; consequently, the demand for
consumption is small. The quotations of last week arc
continued. In the southern markets generally there is a
better feeling, and prices are more firm.

LONDON AND SOUTH-WESTEaN

RAILWAY.

( From the Morning Chronicle.)
The line of communication between London and 5 outh-
ampton is completed, and was opened to the public y'tster-
day. This affords another, and, beyond all doubt, a finer
and more delightful outlet from the metropolis than any
that modern ingenuity and enterprise have yet afforded.
Journeying by railway we measure distance not by 'Mies,
but minutes ; and adopting this scale it may be safely said
that Southampton, the Isle of Wight, and the charming
neighbourhood of the New Forest, arc now little, more
distant than Gravesend, and considerably more witrin our
reach than Ramsgate and Margate. The traveller, urged
by business, or the tourist seeking change, taking his seat
at Nine Elms at eight o'clock in the morning, is glad dened
by the smiling beauties of " the island," or plunged in the
depths of the New Forest, before the chimes of the town
or village steeples in these far-off and delicious regions
ring out the hour of noon. Three hours of easy travel-
ling bring him half way down the Channel, place him in
the midst of the most charming scenery in Engle:ad, ur
set him well on his route to Paris. Henceforth the Tele-
tions between Southampton and London are chauged,, nor
can the time be distant when the magnitude and natnonal
importance of the change will be as fully apprcciateil as
they are manifestly apparent.
Some of the directors and a large party of their ft lends
wade an excursion along the whole line yesterday, starting
from London at eight o'clock, and reaching Southampton,
after several long and somewhat wearisome stoppages to
increase at different stations the freight of passengers, at
half-past eleven. And here we cannot but express our re- 1
gret, that the chairman and several of the dirceters were
prevented from being present, by the necessity of atitending
the proceedings in the Vice-Chancellor's Court, arising
out of the opposit!on of a joint stock company, called the
Northam Bridge Coimpany, who arc endeavouring to n'e-
tain an injunction to stop the traffic of the railway within
a mile of the terminus at Southampton. That 103 y corn- ,
pang whore interests are identified with Southampton
should so misconceive their own, and so blindly seek to
impair those of the town by throwing obstacles in etc way
of this undertaking, appears marvellous ; arid when it is
considered that the Northam Bridge Company iN com-
posed of many of the leading gentlemen in Southampton,
their conduct cannot fail of exciting general surprise, Brit
we returu to our description of yesterday's occurrence.
The importance of the occasion seemed to he fully felt by
the inhabitants of the neighbouring county, edam
front
Wandsworth to the termination of the line ; for at every
s
resting place thousands had assembled to greet With In
tY
cheers the art-impelled and rapid, moving carriage here-
after to diminish, by at least two-thirds, the distance be-
tween them and the world's metropolis.
On the arrival of the train at its destination, a depota-
tion of the townspeople waited upon the directors to re-
quest them to fix a day for visiting the town, and partaking
of an entertainment. The compliment was very cordially
received, but in the absence of the chairman and a portion
of the directory, no day was fixed.
Nearly two hours were delightfully loitered away at
Southampton—the speculative attracted to an inspection ,
of the works actively going on in the formation of the
docks—the lovers of the picturesque hastening to snatch
a hasty glance at the beauties of Neticy Abbey—the
simply idle sauntering into the town. Soon after one
o'clock the party again assembled, and set out on their re-
turn. The ,‘ smokin', boilin', screamin', bustin' monster,"
as Mr. Weller describes the engine, was attached to the
train, and in a short three-quarters of an hour the vene-
rable towers of Winchester were left in the rear, and the
Andover-road station was gained. here Mr. Brassy,
one of the principal contractors, had made arrange-
ments, upon a most extensive and liberal scale, not
only for the entertainment of
.the directors and the'ir
friends, be' for the feasting of the labourers employed
in the construction of the works. Marquees, amply set
forth with delicate viands and rare wines, afforded

Jrefreshment to the former, whilstlhe latter were madec il/2 4
happy by lusty slices from the sides\of a roasted ox, 'and
an unlimited suppl yof strong beer:4ltriOene at this'`
point was extremely animated and cheering. The gal
streamers that flaunted from the spiral summits of the
marquees—the branches of evergreens and flowering
shrubs that embowered the station-house—the throng of
smartly-dressed N isitors—the host of hardy, well-washed,
merry-looking labourers—and, though last not least, the
numberless groups of healthy, buxom country lasses, pre-
sented a coup &mil that will not easily be forgotten.
When due honour had been paid to the good cheer under
which the tables groaned, a few toasts naturally suggested
themselves. Amongst these was " Success to the Lon-
don and South Westeru Railway," which was received
I with the warmest enthusiasm. Then came the health of
" the Chairman, Mr. Easthope," with an expression of re-
gret at his absence. This also was most cordially -
ceived. Mr. Loch, the engineer, received a similar
compliment, and the health of Mr. Brassy, the • con-
tractor, whose spirited and praiseworthy conduct ap-
peared to be tlle theme of general admiration, was
cheered to the echo. It was now growing late, and
people began to remember that they were still nearly sixty
miles from home. The carriages again received their
well-pleased burden—the engine's noisy whistle pro-
claimed that all was right-_a cheer from the by-standers
marked the first tremulous motion'of the train—a moment
afterwards the scene receded beyond the vision's scan, and
in little more than two hours the party were safety depo-
sited in London. In these rapid transits it is not easy to
observe the remarkable and often stupendous works by
which our progress is facilitated, and which in the instance
of this railway have been undertaken and executed with
unexampled rapidity. No one, however, can fail to be
struck with the cutting at Popham Beacons, near Win-
chester, and the embankment at Micheldever, which,
amongst works of their kind, are of a magnitude that is
without a parallel. We have shown that the train by
which the party was conveyed occupied three hours and a
half in the completion of the journey. But that which is
technically called the " first train" (and it would seem
that it has a literal claim to the title), and which smiled
two hours later (at ten o'clock), accomplished the whole
distance (75 miles) in two hours and 56 minutes, reaching
Southampton at four minutes before one o'clock. ,We
have great satisfaction in adding, that there was not an
accident, even of the most trivill nature, to mar the enjoy -
ment of the day. -