The Sun.
London, England, 1840-03-20 00:00:00

MONEY MARKET and CITY NEWS.

(THURSDAY EVENING.)
TIMES.—The discussion at the meeting of Bank
proprietors held this morning was protracted to a much
greater length than usual, but upon the whole was of a
very unprofitable and unsatisfactory character. This is
true in a double sense—th It is, as applied both to the
proprietors and to the public, which are questions of a
totally different nature. There was a rational expecta-
tion among the proprietors, because encouraged by the
Directors at the time when the last reduction of the
dividend took place, that some .amends would be made
to them for this sacrifice by the gradual increase of the
rest," so as to strengthen the capital of the Bank as
the period drew nigh for the renewal of the charter, and
this was the case for two dividends, but on the present
occasion the Proprietors are told that there is an in-
crease of the " rest " over last year of only 5,0001. The
inference which they must all draw from this, if they
reason at all, is, that a further reduction of the divi-
dend is not far distant.

POST.—The English Funds continue to display
an upward tendency, as they have done for some days
past, though the transactions are still extremely limited..
It was pretty currently reported on 'Change that
the Spanish loan contractors have it in contemplation
to make a further advance of money to the Madrid.
Government, as a means of answering the very pressing
demands which are again made upon them by Espartero
and others, the guarantee proposed to be given for the-
reimbursement of the same being a fresh creation of stock
as authorised by the law of April, 1838. In the event of
non-payment of the sums advanced at the stipulated pe-
riod—of which non-payment there can be no
doubt whatever—the contracting firm are to be at

liberty to throw the new security upon the market.
To reconcile the holders of the mass of Spanish Stock
already in circulation to the fresh concoction, they are
amused with a promise of the conversion of the 'arrears
of interest due to them into Active Stock. Again,
one description of paper is to be substituted for
another, as such an operation does not involve a far-
thing of expense to the Spanish Government beyond
that of the material and the printing. The bondholders
are not in a situation to help themselves, and to offer
an effective resistance to this renewed attack upon
their interests. Ministers look supinely on, and the
contractors appear to be conscious of no legal impedi-
ment to the execution of their plans, so that all depends
upon the Committee of the Stock Exchange.

SUN.—The Tea trade was rather firmer this
afternoon, Company's Cungou being at about 2s. sd.
per lb. cash.
The Funds were without the slthtest alteration after
the middle of the day. Consols brought 901 for Money,
and 91i for Time.
The Foreign Securities were a shade better. Spa-
nish Active Stock realised 28a to ; Portuguese New
Five per Cents., 34i to 1 ; Mexican, 291 ; and Colom-
bian, 24k. Belgian rose to 104 ; and Dutch Two-and-
a-llnlf per Cents. were steady at 521.
For most of the Railway Shares there was a better
market. The Great Western improved to 21 prem.,
the Birmingham to 65 prem., the New Shares to 192
prem., and the New North Midland to 71 prem.

PRICE OF SUGAR.

EFFECT OF MONOPOLY.

Table showing the ex-duty price of West India Sugar
in Mincing-lane, and comparing the same against that o'
foreign Sugars :

London, March 20, 1840.
The Gazette of this evening will quote the
average price of British Plantation Muscovado Per Cwt.
Sugar, exclusive of duty, at
Th actual quantity of West India Sugar sold on ac-
count of the importers, in the week ending the 17th inst.,
according to the returns made upon oath by the West
India Sugar Brokers, in conformity with the Act of Par-
liament, and on which quantity the above price is com-
puted, consisted of 893 hhds. 86 trs. and 6 barrels
On Tuesday, 17,288 bags of Manilla Sugar were offered
for sale at auction, a few lots only were sold at from 21s.
to 235. per cwt., the remaining lots were taken in. The
price of this description of Muscovado Sugar may be quoted
the same as last week, being 19s. per cwt. cheaper than.
West India Sugar.
Refined Sugar, the produce of those London Refineries:,
which work Foreign Sugars for exportation only, and which&
is equal in quality to the double loaf standard, has been sold
this week, deducting the charges of shipping, at 32i. 6d- I
per cwt., which is Bs. 6d. per cwt. less than the price the
British consumer is obliged to pay through the operation
of the Sugar monopoly, for duty, and unwholesome moist
Sugar imported from our own West India Colonies.
West India Treacle, which is admitted duty free for tho
benefit, as it is alleged, of the poor mas, has been sold thi:
week at 335. 6d. per cwt., which is Is. per cwt. more t.h
the value of refined sugar produced from foreign Muscova.
does, and is actually 20s. per cwt. more than the price at
which he (the poor man) could purchase, if the law per-
mitted, treacle made in London for foreign markets.
During the year 1839 the British nation paid for
3,521,700 cwt. of Sugar, and the duty on it, nearly twelve
millions sterling. Had these twelve millions been laid out
in the purchase of foreign Sugar, and in the payment of
a duty of 245. per cwt. on it, they would have bought
4,798,000 cwt. and the proceeds of the duty would have
been 5,757,6001. in lieu of 4,226,000/, the amount of duty
actually collected, making a difference in favour of the re-
venue of 1,531,600/. ; and yet, strange to say. the West
Indians possess sufficient influence to maintain their Sugar
Monopoly, although that undeserved privilege has again
and again been proved to be extremely injurious to the
Revenue, and costly to the British consumer.

THE MARKETS.

COUNTRY MARKETS.

Barley. I Oats. I heaA.s.

P.. se

.....M.............
s. 8. 1. to s. Is,to s.
26 46 26 36 144 56
32 48 130 36 146 50

___.....
Per Quarter a. to
Ds.
Bath ........ 7e
_9
Woodford 6B '7.8
Bridport .-
57 !,71 .3-6
571
2_o ;
....4s _
Chant 5O
Gloucester." 54 Sli 45 48 20 34 41 43
1:31.e cr -
Guildford - - 40 6 26 31 40 44
Newbury
Reading..,.,..., 5O 88 35 47 23 34 40 33
Salisbury -
Shtrborne :0 78 42 58 126 30 42 ,48 -
SheptonMallet 60 80 33 54 30 34 48 50 -
Oxbridge - - 37 4:4 28 32 - - -
W,rininster 54 82 36 5.1 27 35 50 sf, - ,
Winchester IC4 -.1; _ ,-- - - - - -
Yeovil 156 82 40 48 i3O 32 ,46 50 - -
LEEDS CORN MARKET.- March 17
Wheat, Norfolk and Suffblk, 601 b....... . 63s. to 60,1 ,-
1
York. and Lincoln. 601 b...........
Barley, Norfolk and Suffolk
37:
to . a
~.,
Yorkshire and Lincolnshire
Grinding
333. to 3.55. ...
--- NI.. ........
Means 63lb.
...... 43i. to 52,
. 263. to 281. •
Oats, Potatoe
----Mealiiig, For. -d. to-d Eng. 13d..0 14;4 rj., per stone
Shelling 34,
1. :36,.
per load
______

37 411

38 40

GUILDFORD MARKET,
yheat, Old (Per Load) WI. to 20L s.— Nt n 16/. to
40 44
44S
40s.
Raney (Per Qr.) 4,s. to 465. Beans (Per Qr.) ...... tso
I ...
Oats 24 Rye ......................
Grey Pease, 421. to 445.
DEVIZES CORN MARKET.
Per Sack. s. d. s. d. Per Quarter. a. d. 0
to a. d (
First Wheat,........ :30 to 42 0 0at5............ 20, 34
'Second 34 it 26 ti Beans (per sack)... k 0 0 2. (.
Third t'S .0 30 0 Flour (per It 57 0
Barley 23 0 40 0 Bread (per ga11.)... 15

The United Service is the richest club in Lon-
don, so rich that ye hear the members seriously contemplate a
new club-house. The new building erected for the Reform
Club is likely to be open to the members in the autumn. —Post.