The Sun.
London, England, 1847-10-05 00:00:00

TUESDAY EVENING, OCTOBER 5, 1847.

privately in Molasses, and at public 47 puns of Barba•
does were taken in at 20s per cwt for good quality.
COFFEE. Tbis afternoon there was little desire
to operate in Native Ceylon, and at public sale 1,982
bags were only in part sold at 6d per cwt decline. Of
Plantation 17 casks and 154 bags went at the full value.
Of 4,184 bags 10 barrels Costa Rica a small part only
sold, as holders were not disposed to take lower rates.
RlCE.—There are sellers of East India at a reduction
on former rates of 6d per cwt, still the purchases made
by private treaty have been extremely limited in all
kinds by exporters and the home trade; on speculation
there has been nothing doing, whilst the market con
tinues to be liberally suppled. Of the parcels offered at
public sale, amounting to 8,000 bags and 73 pockets, a
part only found purchasers.
TEA.—To-day the market presented a heavy appear-
ance for all kinds of Tea, and on the part of merchants
there was an increased desire to sell. Of the parcels
offered at auction, amounting to 8,236 packages, only
1,700 were sold at a decline on former rates of 2d for
fine Congou, 2d for flowery Pekoe, 2d to 3d for Dyson,
and 2d for Gunpowder.
FRIIIT.—For New Valencia Raisins prices are on the
decline, and the trade continue to operate with caution ;
47s is the value. Muscatels have fallen in the value,
and the demand has been limited at SOs to 70s. Cur-
rants are in very good demand. Turkey pulled Figs
moved off steadily at 50s to 75s ; Sultanas 68s to 70s
per cwt. Of new Fruit large arrivals are near at hand.
SPIRITS.—For Jamaica Rum a reduction on former
rates of ld to 2d per gallon having been accepted caused
a good demand to prevail for all sorts, but chiefly for
home consumption, and the total sales since our
last report are 450 puns. Demerara met with
little attention, and can be obtained upon rather lower
terms ; the sales are only 150 puns: For Leeward Is-
land the market has a dull appearance, and 2s to 2s 2d
is the nearest value of proof strength, whilst there
is a fair supply. East India is little required, and
holders are willing to take Is 10d to is Ild for proof
with certificate, the supply is on the increase, and
is likely so to continue. In Havannah there has been
very little business transacted. Brandy is little required
for home consumption or exportation, and the stock
being large there were willing sellers upon low rates, the
older kinds continuing to be pressed the most upon the
market.

CocRINEAL.—This afternoon there was only a limited
demand for Cochineal, and 120 bags Honduras at public
sale sold at 4s 7d to 5.; 3d for silvers, which are lower
rates by ld. Of Camphor 500 chests were in part sold
at 555.

OILS.—Of Southern Oil of all descriptions the market
has been plentifully supplied since Tuesday last, and
merchants having been willing sellers a decline in prices
of 10s per tun has taken place, still a good demand
prevailed, and 132 tuns at auction all found buyers.
Seal is offered upon reduced terms, still the purchases
made have been of little moment. Cod sells slowly, and
at easier rates. For Sperm lower rates have been taken,
still there has been only a limited business concluded.
At public sale 36 tuns were sold. The stock of Fish Oils has
been increased, and lower rates are expected to prevail.
For public sale on Friday 40 tuns of Southern, and 20 tuns
of Seal are declared. For Palm lower rates having been
taken occasioned a good demand to prevail privately, and
at auction 184 casks were sold. The price for Cocoa Nut
are high, but only a limited amount of business has been
concluded at 563 to 61s. Fur auction 50 pipes are de-
clared, and large parcels have been received. Linseed
Oil is offered upon further reduced terms, still the pur-
chases made have been to a small extent only for all
purposes, whilst the supply is getting large. Rapeseed
Oil sells slowly. Olive is offered upon lower terms, still
the amount of business concluded has been to a small
extent only. Lard Oil has been operated in with caution.
TALLOW.—There bas been an increased desire evinced
on the part of the home trade to operate in Russian on
the spot since Tuesday last, and a further advance in
prices has taken place. From both soapinakers and
chandlers a good demand has been experienced, and
46s 9d to 47s per cwt are the rates paid for fine P.
Y. Candle, but upon these terms merchants are disposed
to sell. For forward delivery many contracts have been
concluded at 45s 9d to 465. Home made has been in
excellent request at 48s to 48s 6d nett cash. Of other
kinds of Tallow many parcels have been disposed of
privately and at firm prices. At auction 126 casks of
New South Wales went at 44s 9d to 46s for middling to
good, and 50 casks of Taganrog at 46s 3d to 46s 6d per
cwt. The value of Rough Fat is 2s 9d per stone. Fur
auction 600 pckgs of Tallow are declared.

A MAN MURDERED by SOLDIERS.
SHEFFIELD, OCT. 2.—One of the most disgraceful
aggressions which has occurred in this town for some
considerable time past took place a few days since,
and was attended by circumstances of almost unpa-
ralleled cruelty to a person named Thomas Morton,
grinder by trade, who has since died from the effects
of the violence he received. The nature of the case
will be understood from the subjoined evidence, taken
yesterday evening before the corcner for the district.
Mr. T. W. Rodgers, solicitor, attended on behalf
of the officers of the 40th (Foot) Regiment, to watch
the proceedings ; and Mr. Branson, solicitor, attended
on behalf of the friends of deceased.

The first witness examined was Maria Roberts, who
deposed that she resided in Infirmary-lane, and knew
the deceased. On Saturday night, the 11th instant,
she went to her husband, who was transacting some
business at the Army Hotel. She left, in company
with her husband, the deceased's brother, and two
other persons, between twelve and one o'clock on the
Sunday morning. The deceased remained in the
house for a few minutes, when he followed, walking
about ten yards behind them. As they were turnii g
the corner of the barrack-lane they heard some per-
sons singing, and when they got up to them they
noticed that they were two foot soldiers. The de-
ceased's brother asked them why they were singing
songs on a Sunday morning. The two soldiers and
the deceased's brother began scuffling together, and
she called for the watchman. After calling some
time the relief guard came down from the barracks.
She was positive they were the guards, as two were
of the foot regiment, had pepper-and-salt over-coats,
and hats on; the other two belonged to the horse
regiment, and had red cloaks and caps. The foot
soldiers had bayonets. One of them went up to her
husband, pointed his bayonet, and told him that he
had a good mind to run him through. One of them
said to the deceased, " --- your eyes, I'll run you
through." She then saw the soldier knock de-
ceased down with his bayonet, and the whole six
but heard several heavy blows given by
soldiers surrounded him. She was unable to see
watchman afterwards came to the place,
aann them.
rhai nn girt
to lteshe

By the CORONER—The deceased was perfectly
sober, but his brother John had been drinking. The
whohemfir.st Thosebegan swcuhalo ihn:fd come from the
ortw oarsmolsdiNevritshthad no bayonets
barracks. She did not see any of the soldiers try to
prevent the blows. The deceased had not come up
when the affray first commenced.
George Roberts, the husband of the last witness,
confirmed her evidence, and added that one of the
soldiers told him that they had leave for the night.
Witness had been drinking, and could not tell which
soldier knocked the deceased down. He recollected
that one of them threatened to run him through with
his bayonet.
John Morton, stove-grate fitter, said that the de-
ceased was his brother. On the morning in ques-
tion, when he heard the soldiers singing, he told
them that it was Sunday morning, and not a
proper time to sing. They both went towards
witness, and one of them replied that "he could
sing or do anything else better than he could."
'Witness told him that he thought otherwise. One
of them then laid hold of witness by the hair of
the head, and held him down. When he left
hold witness went towards the Barrack Tavern,
and at the bottom of the lane he saw four
soldiers coming from the barracks. They stopped at
the bottom of the lane, and went up to a man, and
said they had a good mind to run their bayonets
through him. He did not then know who that man
was. He saw the gun of one of them lifted up over
the other's head. Heard Mrs. Roberts scream out
" Watch !" and Thorpe, the watchman, came up, and
took one of the soldiers away. He then saw that the
man they had been ill using was his brother. lie
was covered with blood. He assisted him up, and
conveyed him to the Army Hotel, and he was put to
bed. A surgeon had attended him, but he died on
Thursday.
William Thorpe, the watchman, said that, about
twenty minutes past one o'clock, his attention was
attracted by hearing a female scream. He went to
the spot the sound came from. He there saw a man
on the ground, and a soldier on the top of him. He
seized him by the collar and pulled him off. He
asked him if he was
going to murder the man ? when
he replied that he had been insulted. The sergeant
soon came up and insisted upon witness giving the
soldier up.
Corporal Johnson said, that on the morning in
question he was on duty as sergeant of the guard at
Sheffield Barracks. He ordered privates John John-
son and John Greene to take their bayonets off their
fire-arms and put them in the scabbards. They did
so, and went with witness through the gate. A few
yards outside he heard a disturbance on the road.
Near the Barrack Tavern he saw the watchman and
private James Rennyson. They had hold of each
other. The watchman was pulling him, and he was
resisting. He directed the guard to seize Rennyson,
and to take him to the guardroom and place him
under confinement, which was accordingly done.
Two men, Mulrannon and Rennyson, are now in
custody ; they had leave of absence that night. He
inquired of Rennyson how the affair took place. He
said that he was coming along with Mulrannon, and
they went to the Barrack Tavern to get a glass of
ale, but could not, as the place was locked up. As
he was coming away he was struck by a civilian and
knocked down, and he fought the best way he could
out of it, and was taken by the watchman Mulran-
non said that he took no part in the fight, but got
some blows, and made the best way he could to the
barracks to inform witness. When he came he told
witness that some civilians were beating his comrade.
The CORONER said that they were placed in an
awkward position,
the two soldiers being in custody,
and they could not hear the evidence against then.
He should, therefore, adjourn the inquiry to a future
day.--The inquibtvas d,ccordirtgly a.j9Urned.,l

MONEY MARKET and CITY NEWS.
CITY, MONDAY EVENING.

TIMES —This has been one of the most extraor-
dinary days ever witnessed in the Stock Exchange.
Owing to the way in which they have been taken by
surprise, the parties called upon to repay loans to the
Bank (upon a possible renewal, of which they had
calculated up to the 14th of October) have been com-
pelled to part with stock and Exchequer-bills at any
prices, and the dealers, seeing their position, and par.
ticipating, moreover, to some extent, in the panic,
have made their own terms. Hence, at one time,
while the quotation of Consols for money was 83k,
the price for the account was 84f, the difference being
quivalent to the rate of interest of 36 per cent. per
annum.

At the commencement of business the market
wore an appearance of comparative firmness, Consols
having opened at an advance of a half per cent. on
the closing price of yesterday. But from 848 they
dropped almost immediately to 841, whence they
rallied to 848. From this point a general demand
for money set in, and the pressure gradually 11.-
creased until the price went to 83k. Towards the
close of the day, however, another rally took place,
and they left off at 84 to -I. For the account Consols
began at 84i to 858, whence they declined to 84i,
the final quotation being 84/, buyers. Exchequer-
bills during one portion of the morning were almost
unsaleable. The first quotation was 20s. to 10s. dis.,
and they were afterwards sold at 275. dis. In these,
however, as well as in Consols, some reaction took
place, and the last price was 265. to 20s. dis. Bank
Stock left off 190 to 193 ; Indian Stock 222 to 227 ;
and India Bonds 30s. to 20s. dis. At the Bank the
pressure for discounts was extremely heavy.
The excitement caused by the urgent demand for
money has been increased by two additional failures,
the first being that of Rougemont Brothers, an old
established house, whose liabilities are supposed to be
of moderate extent ' - while the second is that of John
Thomas, Son, and Lefevre, which will prove ex-
tremely serious. The liabilities of this firm upon ac-
ceptances amount to 350,000/., of which 150,0001.
fall due during the present month, 120,0001. in No-
vember, and 100,000/. in December, and the imme-
diate cause of the stoppage is understeod to have been
the non-receipt of expected remittances from their
house at St. Petersburgh. By many persons, how-
ever, the business of the house has long been supposed
to have been extended beyond the amount warranted
by its capital ; and it is, therefore, feared that
the results will not prove so favourable as
might have been expected if the disaster had
originated in some merely temporary circumstances.
The blow is expected to fall most heavily at Man-
chester, whence the firm, in connexion with Messrs.
De Jersey and Co., have been large exporters of
cotton-twist to St. Petersburgh and Moscow.
Within a recent period they had erected a cotton
spinning establishment at St. Petersburgh, which is
stated to have cost 60,0001., and which (this branch
of business being known to be one of the most pro-
fitable in that city) added considerably to the confi-
dence of those who regarded the position of the
house as a sound one. John Thomas and Co. is the
title of the firm at St. Petersburgh, and it has two
partners, Messrs. Maingy and Forcemann, who are
unconnected with the house in London, but as it is
not expected that they have independent capital to
any extent, and as the present suspension has been
caused by their want of punctuality, there is little
room to hope that the event may be mitigated by
anything that may transpire from that side. It may
be added, that notwithstanding the distrust which
has been felt in some quarters, the firm have gene-
rally been held in much esteem, since (setting aside
the undue extension of business to which we have
alluded) they are believed never to have mixed in
speculations of any kind. This, however, rather adds
to the apprehensions that may be entertained as to
the ultimate liquidation, since there can be little
doubt that, from the feeling entertained for Mr. Le-
fevre, any reasonable assistance would have been at
his command if the difficulties of his house could have
been clearly shown to be such as by time and good
management might have been overcome.
The Liverpool letters received this morning give
the particulars of the stoppage of Thomas and Henry
Murray, a highly respectable firm in the East and
West India trade. The occurrence is attributed to
the failure of Samuel Phillips and Co., and the lia-
bilities are stated at 150,0001., of which 130,0001. is
upon acceptances. Their balance-sheet is understood
to show a surplus of good assets to the amount of
80,0001.

With regard to the general bills which have ma-
tured to-day in consequence of its being the 4th of
the month, it is understood that, on the whole,
they have been met in a very satisfactory manner.
Advices from St. Petersburgh to the 24th of Sep-
tember quote the exchange at 38 5.16 to From
Riga, under date the 25th of September, the ex-
change comes 381. All the markets were very flat.
Supplies of new flax seen were coming forward, the
price being 6} roubles per barrel.
Papers from the Mauritius to the sth of August
refer to the dulness which had prevailed
in business during the previous month, though
it appears that usually there is not much doing
at that season of the year. The weather, however,
having proved exceedingly favourable for the new
crop of sugar, it was anticipated that before long
there would be increased activity. In political cir-
cles a movement was being made for petitioning the
home Government in favour of establishing an elec-
tive council. A return of exports and imports for
the year ending July 5, showed the former at
1,569,2131. 14s. 10d., and the latter at 1,234,6001.
12s. 10d.

Accounts from Rio de Janeiro have been received
to-day, via France, as late as the 13th of August.
The Antelope steamer, which arrived out on the even-
ing of the 10th, would, it was thought, sail on the Ist
of the following month for Liverpool. The rate of
exchange upon England was 271 d. Freights were
firm. The Penguin packet, with the July mails, had
not reached Rio at this date. In reference to the state
of affairs in Buenos Ayres, it is added, " there is no-
thing new from La Plata."
The advices from Constantinople of the 17th ult.
mention the unfavourable effect which the news from
England of failures, coupled with the circumstance of
a destructive fire at Pera, had exerted upon the various
markets of that city. The transactions in grain were
of the most limited nature, purchasers for export hav-
ing recently dwindled to a low point. From Smyrna
also, under the same date, it is stated that the mer-
cantile interests were greatly alarmed for the result of
the depressed condition of business here, as it was ap-
prehended that the little activity just then apparent m
the fruit trade might be interfered with. Wool was
quoted 150 to 155 p.; Payambol silk, 130 p. The rate
of exchange on England at Constantinople was 110;
and at Smyrna 1081 to 109.
The Alexandrian letters of the 19th of last month
merely intimate the absence of any remarkable fea-
ture in the position of business. Wheat was selling
at from 50p. to 58p. ; beans were maintained at from
550 p. to 53p.; buyers having taken
,small quantities
for shipment to the Mediterranean. Freights were
declining. For England l Os. to 9s. was the quota-
tion for grain, and :Id. for cotton.
CHRONICLE.—On the Ist of October the price
of gold in Hamburgh was 433 per'mark, which, at the
English Mint price of 3/. 17s. 101 d. per ounce for
standard gold, gives an exchange of 13 9, and the
exchange at Hamburgh on London, at short date,
being 13 11, it results that gold is 0.92 per cent.
dearer in London than in Hamburgh.
On the 2(1 of October the premium on gold at Paris
was 8 per mille, which, at the English Mint price of
3/. 175.101 d. per ounce for standard gold, gives an
exchange of 25 35, and the exchange at Paris on
London, at short date, being 25 45, it results that
gold is 0.40 per cent. dearer in London than in Paris.
The aspect of the Money Market has been gloomy
in the extreme to-day, but a trifling amendment
was perhaps visible towards its close. The Public
Funds, as will be seen by reference to our quota-
tions, have again declined, and the extraordinary
difference of I per cent. between Consols for
money and the account has, we believe for the
first time since the disastrous season of 1825, been
the rate of business transactions. Ten per cent. has
been paid for money in the Stock Exchange to-day,
and its scarcity throughout the City has rarely, per-
haps never been exceeded. The cause for uneasiness
did not however stop here. We have much regret in
announcing two failures which were made known
during the day—one of Messrs. Rougemont, Brothers,
of Broad-street-buildings, exchange brokers ; the
other of Messrs. Thomas, Son, and Lefevre, a house
connected with the Russian trade, and we understand
importers of cotton twist and sugar into that country.
The large outlay by the firm in the establishment of
a factory at St. Petersburgh is the cause which, we
have been informed, has led to this disaster. This I
day, as the 4th of October, is usually important as
regards the number of bills which become due, to
which the present occasion formed no sort of excep-
tion. We hope, however, that our anticipations of its
having passed over without serious difficulty may be
found realized to .morrow morning.
HERALD.--The proceedings on the Stock Ex-
change have exhibited features to-day which have not
occurred for a long series of years. From an early
hour in the morning sales of Consol stock for money
continued to be pressed upon the market until the
c p • e went down from 848 to 83i. At some periods
os frithe day the difference between the money price and
that for account amounted to one per cent., the said
difference being about the rate of 45 per cent. per
annum. Exchequer-bills were at the same time
pressed forward for sale until they were done at 275.
discount, and considerable amounts were offered
that could not find purchasers even at that rate.
India Bonds went down to 255. dis., and the jobbers
would not make any nearer price for Bank Stock
than Si. between buying and selling. The range of
Consols for tha account was from 85i 84iand

the closing quotation 84.,1 As the settling takes
place on the 16th instant, it will at once be obvious
that the price for account has been entirely sup-
ported by the speculative operations, and chiefly
under the impression that the executive Government
will, in one form or other, interfere in order to sup-
port commercial credit. So long as the Bank of
England was able to make advances upon Stock and
Exchequer-bills on loan, leaving only a small margin
below the market price, the jobbers were at no loss
to purchase, without hesitation, to any amount. But
now when they are limited to their own re-
sources, it is easy to perceive that the price of public
securities must reach their level, as compared with
other property equally secure. _

In order that the actual state of the money market
may be understood, it may be necessary to explain
the principle upon which a large amount of the dis•
count business of the metropolis is transacted in or-
dinary times. In the ordinary course of business it
is estimated that the London discount brokers, or
rather discount bankers, transact business to the
amount of 150 millions sterling per annum, exclusive
of the regular banks. The capital to carry on this
important branch of trade is almost exclusively de-
rived from money lodged by depositors, either re-
turnable at fixed periods or on call, and in
this way the subdivision has been extensively
useful. A large portion of the money is often
furnished by the country banks situate in dis-
tricts where surpluses are being thrown off, and
bills are re-discounted for other banks in districts
where capital is deficient. The London discount
houses, in consequence of their always paying depo-
sitors within a small fraction of the interest current
in the market, have of late years been growing rapidly
in importance as the most efficient distributors of
capital in the world In the ordinary state of things,
they often receive large advances from the Bank of
England on the deposit of commercial bills lodged as
security, accompanied with their own guarantee, and
their profit is made from charging their clients ap-
plying for discount a little higher than the Bank rate.
Now, in the present state of discredit all these
houses may be said to be virtually annihilated for all
practical purposes. Nearly all their deposits have
been withdrawn, and thus the means of discounting
commercial bills to the extent on the average of about
half a million per day is extinguished. Bankers and
merchants are compelled, for their own security, to
call in and retain their resources, and keep them
under their own immediate control until the storm
blows over, so that in such an emergency there is no
resource for them but the Bank of England, or a
most tremendous sacrifice of their property. To
such a length has mistrust been now carried that the
latter resource can scarcely be considered available
without producing ultimate ruin, whilst, on the other
hand, the Bank of England is disabled from affording
the required aid b, the shackles imposed by the Act
of 1844. There is no other alternative, therefore, but
to relieve the Bank from these trammels, tempora-
rily at least, or to permit the sacrifice of hundreds of
industrious deserving families that must soon succumb
to the storm.

We have received a number of letters expressing
surprise that meetings have not been held in the
metropolis to urge the necessity of a relaxation of
the Bank Charter and Currency Acts on the imme-
diate attention of the executive Government. We
have no difficulty whatever in assigning a very suf-
ficient reason for this apparent apathy. There is
no Chamber of Commerce or other commercial
corporation in the metropolis that can make a col-
lective or concentrated movement, and individuals
are deterred from making themselves prominent
from an apprehension that it will be presumed
they are actuated by the difficulties of their own
position. If the Chancellor of the Exchequer, how-
ever, infers from the seeming indifference that there
is nothing very materially wrong or urgent to be
redressed, he has no just conception of the actual state
of things, nor of the extent and strength of the opinion
which exists that not a day should be lost by the Go-
vernment in taking the responsibility of relaxing the
currency restrictions in order to restore confidence.
The lesson conveyed by the operations on the Stock
Exchange to-day will probably, however, come a little
closer home to the conviction of Sir C. Wood than the
fall of a dozen mercantile and manufacturing houses.
The commercial intelligence received by the Indian
mail is as favourable as could have been expected,
considering the state of things at home when the
last accounts reached there from England. We
are now, however, witnessing the results of the
continued sales of our manufactured productions
below cost price in the Asiatic markets—results
which for upwards of three years past we have with
every convenient opportunity pointed out as certain ;
but our admonitions remained unheeded, until the
sad reality has left no room for scepticism on the
subject. In the teeth of those admonitions mill was
added to mill in Lancashire, with a degree of rapidity
beyond all former example, whilst the merest novice
might have seen at a glance that it was in the nature
of things impossible they could obtain equivalents of
corresponding value for their products throughout the
globe. There is in reality, therefore, no room for
congratulation on the tenor of the accounts, and more
especially when we consider the results which must
follow the occurrences which have and are now taking
place at home.