The Sun.
London, England, 1847-05-01 00:00:00

DREAD.

The prices of Wheaten Bread in the metropolis are from
10d to 101%2d; of household ditto, 8d to 9V2d per 41bs loaf.

BIDE MAX/LET.

Market Hides, 561tiT04117,71/72.1773d per lb ; do. 641 b to
721 b, 34d to 31/2d ; do. 721 b to 801 b, 31/2d to 33id ; do. 801 b to
881 b, 4d to 41Ad ; do. 881 b to 961 b, 41/2d to 5d ; do. 961 b to
1041 b, 51/2d to 6d ; Calf Skins, each, 4s 6d to 6s 6d ; Horn
Hides, 13s; Polled Sheep, 5s 6d to 6s ; Kent and Half-
breds, 4s 8d to 51 6d; and Downs, 4s to 4s 8d Shear-
lings, 8d to 10:1; Lambs, 2s to 2s 3d.

NAY MASI KETS •
SmrruFfin.D.— Meadow Hay, 21 12s to 3118 s ; Clover ditto.
31 103 to 41 17s ; and Straw, 11 12s to 11 16s per load.
Trade dull, at full prices.
CUMIIKELAND.—Meadow Hay, 2/ 14s to 41 ; Clover
ditto, 81 lOs to 41 15s; and Straw, 1/ 12s to 11 17s per load
A full average supply, and a steady trade-
WHITSCHAPEL.—Meadow Hay, 21 10s to 31 18s ; Clover
ditto, 3/ lOs to 51; and Straw, I/. 12s to 1/ 16s per 'oat
Supply good, and trade dull.

CHANCERY.-(THIS DAY.)
The Lord Chancellor sat in the Court at Westminster to-
day.

IN THE MATTER OF DYNELY, A LUNATIC
Mr. ROMILLY applied this morning, at the sitting of the
Court, for the confirment of the Master's report in this lu-
nacy, reporting that it would be for the benefit of the estate
of the lunatic that the committee should have liberty to op-
pose a Bill in Parliament, introduced on behalf of the Leeds
and Thirsk Railway Company. From the statements of the
Learned Gentleman, it appeared that the lunatic had the
fee simple of certain property situated at Branbrook, near
Leeds; that upon that property there were most valuable
springs of water, which would be taken away from the
lunatic's estate it the Bill introduced into Parlia-
ment by the Leeds and Thirsk Railway Com-
pany was allowed to pass without giving his estate
any compensation. In a former session of Parliament, upon
the introduction of a Bill enabling the Leeds and Thirsk
Railway to run a tunnel through the lunatic's property, the
clause authorising the company to take the water and springs
on the estate, in order to supply the town of Leeds with
water was struck out, but the Bill now introduced into Par-
liament was to enable them to do so. Upon an application
which had been made to the Court for leave to oppose the
Bill, kis Lordship directed a reference to the Master, to in-
quire and report as to whether it would be for the benefit of
the lunatic and his estate to oppose the Bill, and the Master
having reported in the affirmative, the object of the present
application was for the confirment of that report.
The LORD CHANCELLOR made the order.
JONES V. ROSE.

The further arguments in this part-heard appeal were re-
sumed to-day, and occupied his Lordship the whole morning.

VICE-CHANCERY.-jHIS DAY.)
(Before the VICE-CHANCELLOR of ENGLAND.)
THE CORPORATION OF LIVERPOOL V. NORRIS.
The arguments in this case occupied his Honour the Vice-
Chancellor of England the whole morning. The case came
before the Court upon motion to- dissolve an injunction
granted by his Honour ex parte, restraining the defendant
Norris from erecting certain houses in Islington-street,
Liverpool.

MONEY MARKET and CITY NEWS.
FRIDAY EVENING.
TIMES.—A further Russian announcement has to-day
caused excitement in the City, and a rise of 1 per cent. in
the funds. According to an ukase, a translation of which
will be found in another column, 30,000,000 of silver roubles,
out of 114,000,000 which have accumulated as the basis of
the Russian paper cii culation, are allotted for " the gradual()fts
hT
purchase of public securities, Ru-sian and foreign."
amount, which may be roughly stated at 4,750,0_
rOO/.esenL
stoning,
Ang
750
about 2,000,000/. has already been employed in the
is
cup-
ar-
rangementposed
with the Bank of France; about ' ,
0001.
to be destined for the Dutch and other continental
markets, where, indeed, it has probably already been in.
accumulatingvested
interestit isn
isupposed
appropriated
to thea tanything
purchasebes-o o
beyond the
Russian stock, the remaining 2,000,000 e, it is assumed, will be
laid out in the English funds. Anticipations of some develop-
ment of this kind have been entertained, more or less, ever since
the affair with the Bank of France, and hence while it has for
some time produced the advantage of lessening the amount of
gambling, by deterring men from mere speculative sales, it
has now been followed only by a moderate rise of prices.
Doubts are als:t entertained whether the arrangements fur
such purchases as may have been determined upon have not
already been concluded, since it seems highly improbable
that the notice would be allowed to producd its effect di-
rectly in the face of the intended operation. The bearings
of the measure we have already pointed out, in alluding to
that portion of it which has already been completed in
France. That it will afford present relief cannot be ques-
tioned; but it must be remembered that the terms upon
which this relief is obtained (supposing a purchase of English
stock to the value of 2,000,0001.) consist of an annual pay-
ment to Russia of about 70,000/., with the certainty that, if
ever this payment be extinguised, it will only be by buying
the stock back at a greatly advanced price, or by paying it off
at the rate of 1001. for every ISM now received.- Severe
as this is, however, it might be looked upon without dismay
if it were accompanied 1w the certainty, or even by the pro-
bability, that henceforth the proceedings by which it has
been necessitated will be arrested, and that, having paid this
forfeit for our past improvidence. we shall now pursue a wiser
course. Unfortunately, however, this is net the case, since
there are no signs but that it will at once give a new impel us
to the reckless expenditure out of which it has had its origin.
Consols opened this morning at 861 to a for money and 86a
to for the account, and upon the Russian ukase becoming
known a sudden demand for all descriptions of stock took
place, causing an advance of more than 1 per cent., the
quotations reaching 87a for money and 871 for time.
Throughout the day a severe pressure for money was main-
tained (6 per cent. being currently paid on Government
secsrities), and this produced a reaction, during which
Consols were quoted 871 for money. Before the close of
'business, however, purchases once more gave firmness to the
market, and the last prices were 87* to 1 for money, and 87i-
for the account.
POST.—The English securities have to-day been done at
materially better prices. We mentioned several days ago
that the metallic resources of the Bank of England were
been greatly likely to be recruited by the receipt of a supply of gold from
Russia, a country which has of late yea)s
d
ad-
vancing in its mining operations, and which has that metals
therefore, in considerable abundance. It transpired
this
morning that intelligence had been received from St. Peters-
burgh announcing that the Emperor Nicholas had, by a
ukase, dated the 12th instant, determined to invest in the
Russian and foreign funds 30,000,000 of silver roubles in
specie, a sum equal to about 4,600,000/. sterling. Consuls.,
which had opened at 86% fur account, advanced, upon
the strength of this information, to 87%, the announce-
ment in question being coupled with the intima-
tion that it was expected the greater portion .of
the sum named would be invested in the Englisi
funds, and that the investment was intended to be one
of a permanent nature. On inquiry, we find that in this
arrangement the operation lately effected with the Bank of
France is supposed to have been included, and that some
large purchases on Russian account have been made of con-
tinental securitius, so that the amount of stock that may be
secured in the funds of this county will perhaps be much
less than has been anticipated. We consider, indeed, that
the object of the ukase has already been pretty fully accom-
plished. The supposition that such must have have been the
case is strengthened by the knowledge that Messrs. Baring
and Co. have of late been drawing largely on the northern
cities, and it is taken for granted that it is through the me-
dium of that eminent house the portion of the business,
whatever it may be, appertaining to this country, has been or
will be conducted. It has been said for some time past
that, since the failure of the house of Harman and Co., the
former agents of the Russian Government, an account had
been opened with the Bank of England, and what business is
now done on Russian account is, no doubt, to a certain ex-
tent, with a view to the convenience of the institution.
A deputation of gentlemen from Liverpool and Manchester
had yesterday, as we learn, an interview with Lord John
Russell, on the subject of the excessive scarcity of money.
It is understood as the result, that Government, through the
Bank of England, undertake to do all they can for the relief
of the manufacturing and trading interests generally during
the prevailing pressure, and that the deputation returned
last night more satisfied. The exchanges on the continental
cities were much better to-day. The next accounts from
the United States are expected to advise a sensible advance
in the rate at New York on England. It will, in the opinion
of the merchants, probably be from 5 to 6 per cent. premium.
Orders may also be reasonably looked for, because, including
what has been carried out by the numerous emigrants pro-
ceeding to America, the remittances to that country cannot
have been to the extent of less than nine millions sterling.
An advance in the prices of European goods must be the
natural consequence, and there can, it, is argued, be little
question that there must be a corresponding demand for Eng-
lish goods. Much is calculated upon in this respect.
There was to-day a meeting of commercial men of the
Hall of Commerce, the object of which was understood to be
an appeal to Parliament, calling fur a mitigation of the pro-
visions of the present banking law. The point that will
be chiefly contended for is propably an extension of the limi-
tation of the Bank of England to an issue of notes from the
amount of 14,000,000/. to something like 18,000,000/., a sum
held to be more compatible with the large commercial in-
terests at stake. The meeting was attended by Messrs. Bar-
clay Brothers and Co., Messrs. Durant anti Co., Messrs.
Gregson and Co., Sir George Larpent, Bart., Messrs. Lyall
Brothers and Co., Messrs. Palmer, Mackillop, and Co ,
Messrs. Sanderson, Fry, and Co., and others, some cif whom
were for proceeding at once with a memorial to Parliament,
complaining of the oppressive nature of 'the new law of Sir
Robert Peel, as exemplified by the extravagant rate of dis-
counts now demanded by the bankers, but Messrs. Palmer
and Co., Messrs. Sanderson, Fry, and Co., and several more
expectedwere
ton eawait h
itsh
ee
vreens
nl
gt
ionf t
ht he eHresumedf
cdoi s cniums soinosn,
as having a strong bearing on the matter.
We hear that there is no extraordinary pressure for money
among such of our merchants as are engaged in purely
legitimate commercial pursuits, and this is certainly a satis-
factory feature. It is the belief of some of the most intelli-
gent men we meet with that the scarcity of discount arises
more from the constant calls making by railway companies
than from the partial withdrawal of bullion from the bank of
England; for although large amounts will be sent to the
United Statell by the next two or three steamily there will

7 die
1 die

5%

2%
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12%
15%
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7%