The Sun.
London, England, 1847-05-27 00:00:00

AMERICA. I NATIONAL BANK OF IRELAND.

LIVERPOOL, TUESDAY

By the packet ship Columbia, Captain Fenton, ar-
rived in the Mersey this morniog, we have New York
accounts of the Ist inst.

Politically, they are entirely unimportant. The
Washington Union reports the position of affairs on
the Rio Grande as follows :

"The last letter from General Taylor, of the 28th of
March, reports that our communications with the rear
are now measurably secure, no inte. ruption hating taken
place since that reported on the 20th ult. A. train ar-
rived cn the 24th, under escort of the Ist Indiana Ite-gi-
meat, and another was daily expected. It is understood
Watt the rt.gul.hr cavalry of Urrea bad retired from that
quarter across the mountains; a natural result of the
retreat of the main army towards San Luis and of our
precaution to secure the trains. All was quiet at ;zed-
tillo; the troops iu good heal. ft, and the wounded ra-
pidly recovering. The inhabitants, Wit at &ludo
and Monterey, were generally returning to their homes,
and, in the country, are engaged in planting their
crops."

The
commercial accounts by this arrival are but
little later than those received by the Cambria. Ex-
change, after the steamer's departure, was quoted at
6 to 6f per cent. premium, a little higher being paid,
in some cases, for favourite signatures. The cotton
market was quiet. Tile flour trade was unsettled,
several holders, in anticipation of the opening of the
canal navigation, having evinced an anxiety to realize.
Freights also were unsettled, and several vessels
were about to leave for the St. Lawrence to
trade. We annex the usual report from the Aew
York Shipping List of the Ist instant. Dates from
the southern markets are nut later than those last
received :

CO it MERCIAL INTELLIGENCE.
(From the New York 'Shipping t. ist, May I.)
Excilang.e.—Since our last the bu-iness in lorogn, for
the steamer, has continued to a lair exient, but with
tome alterations in prices, and we now quote bids on
London at: 6 to 6} p,r cent. premium, a tittle higher in
,owe eases being pail fur favourite signatures; Paris,
sf. 36P. to st. 35e.; Ainst,rdaw, 39k, and sales of :.ou-
them Mils at lower rates; Antwerp, 391 to 39k; Ham-
burgh 35/ to 351, and Brt,men, 78 to 78/.
Cottun.—The business in this market, since our laA,
has not been as large as for the previous three days, but
prices have been fully mainraincd; the market, how' ver,
closes with a quiet aspect. The transactions reach 3,600
bales, thus :

Upland and Flor. Mobile and N Or.
Transactions ... 2,500 bales. 1,100 bales.
Ord. to good ord. ... 11 to 14c. 11 to Ilic.
Mid. to good mid.... llt to 121,1. 111 to 124 e.
Mid. fair to lair ... 124- to 131 e. 122 to I VC.
4
Fully fair to good`air 13t4 to 14c. 14 to 144 e.
Making a total for the week of 9,850 bales.
The arrivals have been, from Riles.
Florida ... ... ... 1,236
Georgia •.. ... ... 1,049
South Carolina ..• • ... 409
North Carolina ... ... 84

Total ... 2,778
Total import from the Ist to the 30th ult. 21,431 bales.
Export from the Ist to the 27th of April 4,726 „
Export from the United States.
Since the Ist of September last ... 806,703 „
Same time last year ... 960,635 „
Flour-The market here for western flour since our
last has been dull, and, although the stock is reduced
very low, some holders, in view of the opening of canal
navigation, have evinced an anxiety ta reitiise, and prices
have become unsettled, and lower rates accepted.
eienes,ee and Troy cannot be quoied over 7 dolls. 75c.,
.:nd some has been sold fih• 121 cents 1. ss; Michigan and
Ohio command, in small lots, 7 dolls. 50e. to 7 dolls.
621 c.; 800 barrels New Orleans sold at these rates; and
800 o.im, vid Philadelphia, 7 do 1,. 37ie. to 7 di ils. 500.
To arrive, there has be,u a go .d demand, and we notice
sales of 4,000 bee redo, in May, at 6 (lot's. 371... to
6 duds. 50e., The lower rate her mixed SlichLau; 4 000
in Juno, 6 dolls. to 6 duds. 25.:.; 3,000 in July, 6 doles.;
1,000 in August, 5 dulls. 75c ; and 1,000 on or before
Septembn 1, at the option of the seller,. at the same
price. Southern is inactive, and prices gradually recede
-the sales are 3,000 to 3,500 barrels of Alexandria,
Georgetown, end Richmond County, at 7 dolls. 371 e. to
7 dolls. 50c.; and 500 Richmond City Mills about
8 d 0115.504 e ,ui sells al iwl. at 5 dells. to 5 dolls.
12c. Bigler rates being demanded for corn meal, the
market is quiet-3,000 barrels of Jersey, part. to arrive
so,di, sold at 4 dolls. 50c. to 4 dolls. 56k.; 1,000, in all
May, 4 drills. 25c.; 3,000 Western, in June and July,
on private terms ; -and 100 puncheons of brandywine,
22 dolls. cash. -
Export from the Ist to the 27th of April :-
Wheat flour . . 90,379 barrels.
Grain-'fficre is no wheat here. To arrive in May,
12,000 bushels ot Gen,ssee, wild at 1 d.,11. 50e. to 1 doll.
55c.; and 10.000 of %%, hate Ohio, 1 doll. 40c., c:vh.
V. r.hern rye has been ,full, but the in2rltet is now,
per hdps, a little firmer; 5,000 bushels sold in Its al 92e.
to 95c. A stnal lot of barley brought 72c. ; the last
sale to arrive wa, fur early in May at 70c., eish,
Northern oats are in less requi:st, and the stock accumu•
tates ; the quotation at the close is 50e. to 52e., at which
5.000 busiels have le en disposed of ; and 2,300 Southern
it 47c. The supply of corn here is net large, but about
equal to the demand, the market retalilin4 114 firmness ;
the sales are 35,000 bushels Northern and Jersey yello a
at 9.5 e. 97c., wetie 1,000 Jers.y from store, at 1 ;
10,000 Southyrn yellow, at 95c. to 96c. ; and 16,000
white end mixed ditt.,, b2e. t., 94c To arrive the salt's
nave been large, say 150.000 push:-Is, partly en terms
:iet made putme, inclinibig in part the May delivery at
80c. to 85e., and June and July at 75e. to 761. 8.-ens
are in good demand, and considerable sales have been
•Geen made within Our range. 500 bags of black-eyed
peas sold part al 2 dolls. 37c. por beg of two bushels...
Exports from the Ist to the 27th of April.
Corn
... 1,052,042 bushels.
Wheat ... 55,490 -
44,284 -
Barley ... 8,183
Oats • 89,118 - -
Provisions-Old Ohio pork • since our last has been
very quiet, and yesterday the market was dull. We
know of no sales worth reporting ; about 1,000 barrels
sour prime brought 11 dolls. 374 c. to 11 dolls. 503.;
and 250 new mess, to arrive, 16 dulls. 371 c. to 16 d.. 115.
50e. Beef is inactive ;- 'lOO barrels city prime sold at
9 dolls. 25c. ; 200 mess, 12 dolls. ; and 175 tierces
prime mess, a few days since, 20 dolls. Ohio lard is in
good demand, and prime in barrels readily commaixls
10e., and in kegs 101 e. ; at these rates, with some No.
2 in barrels, at 91c. to 910., the sales are 1,500 kegs,
and 600 to 700 barrels since our last. Pickled meats are
firm ; 100 tierces westernr-harns sold at 81c., and 60
hogsheads, shoulders, in dry salt, hie. New butter sells
on arrival at 20c. to 22c. for Western dairy, and 25c
26c. for Orange county.
Export from April 1 to 27.
2 681 barrels.
5,0(19 barrels.
15,366 kegs.

Beef...
Pork
Lard

Rice—The transactions have been to a very fair ex-
tent since our last Ssturday 's report, and prices are fully.
iaaintained. The sales amount to about 800 tierces o!
all descriptions at 3 dolls. 50c. for ordinary, to 4 doll.,
623-c. for good. The stock having been considerabh
reouced, holders ate firm at our quotations, which a e
do not vary.
Tobacco—We notice a pretty good demand, and sal, s,
Aince our last, of 175 hogsh, ads. Virginia and Kill
ucky, at 2i.". to 6i-c.; 150eas.-s ot Conn. cticut and tienn
iylvania seed leaf.; part 84c. to 10i-c.; 27 Florida, at 6e.
15c.; and 200 Connecticut, for export, on terms not
wade public.

~ d:.

Iron—We have- no new fluture to notice in the
market, except - that holders of Scotch pig are much
lirmer, and some are now asking advanced rates. 200
cons common Swedish sold on private terms.
Freights-The market remains very unsettled, and
rather lower rates have been act:-ptcll. Some eight or
,en British vessels hate left or are about to lt•ave for
Quebec to engage in the tin.ber trade. To Ireland,
14ondon, and ,he continent there is lout little going fOr-
Nard, and quotations are nominal. To Liverpoool %%4
notice small tongsgenn-nts in Ainei lean and 13ritish yes
of fi•Jur aid meal at 3s. per
r l
eperbarrell;. 3:asL . :ts. 3d.; tar, 4s. 6.1.; 1, sitter,
.
pints of tuipilitine, at 2d. Per ga I'' &c. A Britith
stiip was taken up to load heavy goods at Boston for
London, at 15s. per ton.
To London—Fiour, 4s. to 4s. 6d p.,r barrel; tui p
(North country).
,4s. 63. Peentine
.
bare,l; sp tits ,of tortentortenlli (252 golions), 50s. Per jarr,l; twasureu eat goons,
566. Fee ton; cheese,
10s. to 455. per too;
wit;
ise. a pt:ir6tAie.rpeer;
50s. per ton; beet (304h,'labyrsrY.etig,;"3c03r6n1bas2.
wet and pork, 6s.
P'l "'l3d. to 16(1. pi 4 bushel.
bushel; oats and t'ar 7;uare and round bales), le. to le.
T„, Havre—Cotton
ashes,
per ~
lb • dour, 1 doll Per barrel;
bElitto 10 tn,lls.Pet
tal.
ton; rice, 12 dolls. per ton; wha e ot.e. per 14).;
lard, &c., i.e. per lb.; grain, in bags, 300. to 35c. par
bushel.

PHILADELPHIA, APRIL 30, pm,
~otton is firm,
with sale
in 3,00 bales of Uplands and
New Orleans, at 13 to 131. }lour isin welder/ice re-
quest, and holders demand 7 dolls. per barrel for good
brands; some extra brands sold at !hat. 1,000 barrels
ut corn meal sold at 4 dolls. 31c. ; and 300 barrels at 4
dolls. 25c. 113 e flour sold at 4 dolls. .t
87c. ; 7,00,
bushels of good red wheat sold at 157, and tektite at 162
3,000 bushels of corn sold at 93c.,. and 2,500 bushels o
oats at slit. 23,700 barrels of flour. 59•362 bushels o
wheat, 35,527 bushels of corn, and 18,177 barrels of cc ri
weal, were vxported from Philadelphia last week, princi-
pally to Europe.

BALTIMORE, APRIL 30, P.M.
The flour market continues dull and unsettled. I note,
asale yesterday morning in two lots of 200 barrels each,
a-t 6 dolls. 72c , and about 500 barrels, Susquehanna
brands, at 6 dolls. 75c. There are buyers only to amo
derate extent of flour at 6 dulls. 75e. Some tire unwil-
ling to offer more than 6 dolls. 62;ic. holders are
Ri
rathe
enr anxious to
o operate a 6 dolls. 75e. Nothing of
omt doing jCity Mills. t Small sales of some 400
barrels at 6 dolls. 87fc., and 100 barrels yesterday at
6 dolls. 75c. Corn meal is very dull, and can be had at
4 dolls. 37i.

T E CHELSSA PENSIONERS. Tuesda the dif-
ferent metropolitan diviAons of the enrolledled out-pee
sioners of Chelsea Hospital, including that from Wool-
wich, had a grand field-d 4 in Llytie. park, prepai story
to their review by the Commarlderiu•Chief,
to.day. in that park,

The twelfth annual general meeting of the pro"
p-ietors of the National Bank of Ireland was held
yesterday, at No. 13, Old Broad-street, for the elec-
tion of directors in room of those who, in pursuance
of the deed of settlement, retire from office.
Some interest in the proceedings was evinced, as it
was expected that reference would be made to the
lute Governor of the Institution, Daniel O'Connell,
Esq., ALP., who, during a long and active life
sustained such a conspicuous part in the history of
Europe. The meeting was, therefore, more than
ordinarily crowded.

J. C. Ruding, Esq., occupied the chair. ,
Among the &rectors present we observed T. Lamle
Murray, Esq , J. C. Ruding, Esq., Fowler Newsam, Egb
Sut:en, jun., Esq., Charles Bianconi, Est?
F. B. Henshaw, Eq., A. P. Johnson, Esq.,
Wheel, r, E- q., J. L. W heeler, Esq , Jahn Ransom, Esq"
W. L. Wheeler, E,q , Joseph 'Wheeler, Esq., Charles
Rule, Esq., Thomas Shelve'', Esq., H. M. Jones, N'Q'
aO'Neill,sq., Captain Sir Burton
Freis E nAuctianuirst
Joshua B. &teen, Esq., John Robins, Esq-, Georg°
Coxheed, El., Jacob Stanley, jun., E-q , John ritintr_l4
E;ci , Joseph Barber, Esq., E. J. Daniel, Esq., A. "a"
Hutchison, Esq., G. F. Hardy. Esq., of Cork.
The CHAlRMAN—Gehtienlen, I am hapPY to have
the pleasure of meeting you at our twelfth annual
meeting, and I trust th.tt the report which we hale
to lay before you will meet with your approbation.
I shall now call upon the Secretary to read the notice
convening the meeting.
The SECRETARY, having read the advertisement,
then, by order of the Chairmen, read the following
REPORT vertiiement,
Of the Directors of the National Bank of Ireland,
made to the Proprietors at the Twelfth Annual o°'
ntral Meeting, held at the office of the Compaq,
No. 13, Old Broad-street, London, on Wedneedalt
the 261 t of May, 1847.
" In presenting to the proprietors the Twelfth Au'
nual Report of. toe operations of the batik, the dirti
tors deem it right to call their attention to the geT
circumstances that have occurred in the eventful Pert
since their last meeting, and which were calculaw-:
more' r less, to atf ct the property of the establislitneo_s•'
"In August last year, the Bank of England, influence"
by the favourable course of the exchanges, lowered US
rate of interest to 3 per cent.; hut,
.subsequently, nail
to their re-action, and the consAuent drain of bullion,
raised the rate to 4 per cent., and, recently, to 5
per c "
The failure of the p,it4to crop in Ireland, for tobt
second time, caused much cons'ernation, and from bell,
an exporting country, Ireland became a large iniP°"-
tbe
of the necessaries of life, thus, not only disturbing be
usual course of things, but adding considerably
to,t
deficiency experienced in countries similarly situatec.6
"Under these difficult circumstances, new to Bankl
bubii.ess in Ireland, and the speculation likely to re 6
therefrom, the directors have preserved one unifor
course, discouraging, as much as in their" power, !i_l!
speculative operations, but affording facilities for to°
import of provisions intended to supply the gr°wins
wants of the country. One of the immediate results
this policy has been already visible, in the incre asetto'
and increasing confidence in the bank, and its ability.i.w-
gdo
grant accommodation to the legitimate demands of
and agriculture.
"'the long discussed question of the abolition, of the
corn-laws, became in the past year, a final measure; but
the circumstances already noticed, have s..:spended,...„,ith the
action so far as the agricultural interest of. Ire'''.
concerned.
t the
" The proprietors will be gratified to' learn, t-a-
Bank has been instrumental in facilitating the operation°,
of Government, connected with the Commissioners _
Public Works, and which have been in force for
.t
purpose of relieving the unparalleled distress and destltls;
tion which prevails in Ireland. strOnr
" At the previous meeting of the proprietors
reeling was manifested, that the Bank should furtn___
assist in aleviating the wide spread and deep.d4Tf
which existed.. The directors have now the satisfnl.:,
or statiug that they have carried out the views rblih.
proprit tors, by contributing in various localities ,uperorw'
of one thou Sand pounds.
" The proprietors will observe, from one of
laid before them, that the past year bits
.beeetwo half-
prosperity to the Bank, as, in addition to th
amounting to
paid, atoo
}early chvidends which have been
ag a surplus of
22.5004, the ilii-eciors have remaining; dto the
10,612 E 10i. 2 1., which has been carrie
the accounnts now
credit of the Reserve-wild,
50,108 L 15s. 31. whereby it is increased to

unittvidtal profits at Decomipr,
6 5 1
£39,49
1845. were
6` Net profits for the year enchug De-
cember, 1846
33.112 10 2

72,608 15 3

" Deduct half-y Par's dividend
to Mittsu.noter, 1846......... £11,250
" do., do., to Christmas,
1846

11,250

22,500 0 0

i‘ Leaving amount of undivided profits,
at Decewbar, 1846 £50,108 15 3
" There are now to be elects d three directors, in the
room of Nicholas Maher Esq., M.P., Maurice O'Con-
nell, E-q , M.P., and Robert Sutton, jun., Lq., whose
seats at the board are vacated by rotation, all of whom
are candidates 1, r the (dice, anti eligible to be re-elected.
Approved by the Court,
(Signed) "T. LAMIE MURRAY, Chairman."
The CHAlRMAN—Gentlemen, before I put the quo'
Lion of the adoption of this report, I beg to know if
any Hon. Proprietor has any question to ask ?
Mr. •JoNEs—Sir, it is from no wish to ask any
question that the board may not be ready to answers
but being a proprietor, and presuming' that there are
others who, like me, feel anxious on this subject'
namely, how the account of our late Governor stands
with the Bank,-at the same time that lam persuaded,
both from the character of the illustrious individual
deceased, as well as from the care and attention of
the directors, I may anticipate a favourable answer--:
certainly an answer different from that prognosticated_
by many of those who are not so well acquainted with
the affairs of the Bank as myself. Therefore, Sir, if
you have no objection, I should wish you to inform
the meeting whether the account of the late Governor
standsl,he
cma as itA RoughtAN to do.
quGeesnt
itol enm
oe
fn ,
thehanveo°7
and I have the utmost satisfaction in telling you
urch4lreretourer
in answering the ;
that the balance due from the late Governor is not
more than 4,0001., and we hold life policies to the
extent of 7,5001. besides other securities, so that the
bank can lose nothing by the late Governor. I
am happy to be thus able to put at rest all the incor-
rect reports that have been circulated, that the debt
of the late Governor to this Bank amounted to
60,0001. or 70,0001. .. -
Mr. JoNEs—I am happy to hear so satisfactory an
answer, although it was only what I expected from
the honourable conduct and business character of the
directors of this bank.
The CHAIRMAN said—Gentlemen, before moving
the adoption of the report, it is my painful duty to
announce to the meeting officially the death of our
distinguished and much-lamented Governor. It is
with extreme regret that after the presence of that
most distinguished gentleman at the annual meetings
of this company for so many years, that we should be
deprived of his valuable services, and that upon this
occasion so bumble an individual as myself should be
called upon to occupy the plac.• so ably filled by .
that lamented gentleman. To Mr. O'Connell
we owe a debt of profound gratitude for the
valuable and gratuitous assistance which he afforded
in his lifetime in the establishment of this Bank. The
readiness with which, upon all occasions, he lent the
aid of his powerful talents- for its advancement, and
the able and impartial manner with which he dig.-
charged the arduous duties of a governor
or the Bank, won for him the esteem
of his colleagues, and entitled him to the warmest
thanks of all interested in this society. The heart
of Mr. O'Connell, I may say, was centered in this
Bank; he believed that this was an institution Which'
after paying a beneficial return to its proprietors,
was calculated to contribute largely to the so-
cial improvement of Ireland, particularly the
poorer classes, whose welfare was his constant
care, and it was a source of the greatest
satisfaction to that distinguished gentleman to know,
previous to his decease, that all his endeavours towards
this end had been crowned with success, and that his
fund and ardent hopes for its success bad been fully
realised. (Hear, hear.) By the death of Mr.
O'Connell his children have been bereft of a kind
and affectionate parent, the directors of an amiable
IA valuable colleague, and the proprietors at large of
a highly influential and distinguished patron.--
(Cheers.) Having paid this tribute to the memory •
of our departed friend, I thirk that it is now right to
allude to the affairs of the Bank itself.—(Hear, hear.)
Since the making up of these accounts, in the month
of December last, which have been already laid before
you, I have the happiness of stating that the Bank
has been progressing most satisfactorily.—(Hear.)
Our reserve fund has increased to upwards of 50,0001.,
a point which, in the opinion of the directors, and
which, I hope, will be concurred in by yourselves,
is sufficiently large to enable the directors to
increase the amount of dividend.—(Hear, hear.)
The utmost vigilance has bean exercised by