The Sun.
London, England, 1841-09-02 00:00:00

FROM 724 E MORNING !AYERS OF YESTERDAY.

TlMES.—Tiieprenliuni on gold at Paris is 6 per
mile, which, at the English Mint price of 3/. 17s. lOid,
per ounce for standard gold, gives an exchange of 25. 30.
and the exchange at Paris on 'London at short being
25. 40 , it follows that gold is 0.40 per cent. dearer in
London than in Paris.

By advices from Hamburgh the price of gold is 429
per mark, which, at the English Mint price of 3/. 17s. mid.
per ounce for standard gold, gives an exchange of 13. 7,
and the exchange at Hamburgh on London at short
being 13. 7, it follows that there is at present no differ-
ence in the value of gold at the two places.
The great political topic among the Texans is the ap-
pointment of the new President, and the excitement re-
specting it appears to be carried on much on the same
scale as that which prevails on similar occasions in the
United States. On either side the candidates are equally
fortunate in receiving nicknames, and, as there are only
two on the present occasion, the, political leaders have
honoured them with many aliases, but they are of a cha-
racter not exactly fitted for extract, for, though less ex-
travagant than those retailed by their neighbours the
Americans, they are nevertheless somewhat coarse. The
two candidates are Judge Burnet and General Houston,
and from the very strong claims of the former, as advo-
cated in the different papers, it is not at all improbable
that he will be elected.

A letter to the Shareholders of the British Iron Com-
pany by Mr. Motte, one of the "united shareholders,"
was published a day or two previous to the last general
meeting. The object of his argument is to persuade
the Company to wind up their affairs after the satisfac-
tion of all outstanding claims. He examines the ac-
counts published by the Directors at great length, and,
after investigating each separate document, comes to the
conclusioa that the Directors purchased, in 1825, 21 free-
hold estates, at a cost of more than 700,0001., being up-
wards of 500,0001. over value ; that they burdened the
Company with leasehold liablities for minerals more
than equal to 6,5001. per annum for sixty years, and that
it was reported to the shareholders from time to time
that profits varying from 6,0001., to 60,000/. were being
made, whereas the Directors' report exhibits a loss of
4,9121. On the contract made for the estate called Corn-
greaves for 600,0001., besides 36,0001. for stock, in June,
1825, Mr. Motto reminds the shareholders that it was
valued at 300,000/. for its minerals alone, but never pro-
duced ironstone to any available quantity, and that the law-
suit for 12 years incurred a cost of nearly 180,000/. The
total receipts of the Directors from the shareholders since
1825 he estimates at more than 4,000,000/., while the loss,
as stated above, is 4,9121., which Mr. Motte, by adding
interest upon capital, increases to above 1,000,000/. The'
loss on the whole investment by the Company being ad-
mitted to be 945,9581., he adds 700,000/. for interest,
and disallows 582,0041. for minerals, and sets down the
total loss at 2,227,962/. Having premised this enormous
loss, and enumerated other facts to show that the Share-
holders have been misled, he draws their attention to
the perils of fresh litigation, remarking that millions will
be at stake in the event of law proceedings between the
Shareholders and the Directors. He recommends a
searching inquiry into the affairs of the Company, that
its actual losses and liabilities and the present state of its
liabilities may be ascertained, and that the present dis-
jointed properties may be let or sold, so that as much as
possible may be realized- before a winding-up. The
Company once wound up, and those Shareholders who
wish having retired, " the Company," he says, " might
be reorganized, and the trade of this new body concen-
trated on one property, so that the expense might be re-
duced to a minimum, and something like a profit be rea-
lized. If, however, there is no cessation of hostilities bs-
t ween the contending parties, and no disposition towards
conciliation on the part of the Directors, Mr. Motte can
foresee no other result than a Chancery suit—a result
which was distinctly predicted at the meeting.
POST.—By the private advices lately received from
Buenos Ayres it is satisfactory to perceive that the in •
terests of the British creditors of the republic have been
kept constantly in view by the Government of President
Rosas. His Excellency Senor Moreno's despatches from
London on the subject had reached the hands of the Fi-
nance Minister. The immediate departure of the packet,
however, allowed for the moment only just tirna to make
a hasty acknowledgement of them. The details of a plan
for the adjustment of the English debt, suggested by M.
Moreno and Messrs. Baring, Brothers, and. Co., which
embraces, we believe, a proposal for liquidation by part
in cash, to be realized out of the national products of the
republic in the European markets, and part in Treasury
Bonds, receivable at the custom-houses, had not yet been
formally entered upon ; but we have good grounds for
thinking that, in defiance of the still existing differences
of the Argentine State with Monte Video, an honourable
intention of satisfying the claims of the English bond-
holders, now fourteen years in abeyance, is entertained.
We learn further from these private rources of in-
formation that the of between the republic and Monte
Video was rapidly hastening to a close. Such a consum-
mation was accelerated by the growing discontent which
prevailed in Monte Video. Lavelle, it is asserted, was
completely crushed, and nothing serious was now appre-
hended from the Unitarian faction, with whose interests
he had identified himself in the civil war. The known
determination of the Governments of both France and
England, each acting upon its individual policy, tended
to discourage the enterprises of those who had been
hoping to accomplish the revolutionary purposes they
had in view.
ADVERTISER.—According to a statement iu a
Shrewsbury Journal, we are happy to learn that the
assignees of Messrs. Price, Jones, and Edwards have
now realized a sum of from 18,0001. to 20,000/, either
in Exchequer Bills or in funds immediately available.
This sum they have determined to divide among the
creditors upon the earliest day they are permitted to do
so by law, viz., on the 30th of September next, four
months after the fiat of bankruptcy was issued. The
sum proved against the joint estate is about 80,000/.,
so that the assets now in hand will be sufficient to
pay ss. in the pound at that time, without the receipt
of a farthing from the valuable private estates of the
bankrupts. This statement will dissipate much of the

gloomy apprehension entertained respecting the results
of this failure.
HERALD.—Private letters from Manchester announce
the stoppae.e of a large calico printing concern in that
town. The Bank of Manchester is said to be a creditor
for 20,0001., and indeed it is stated was the occasion of
the stoppage of the house, by not only refusing further
facilities in the way of advances or discounts, but pe-
remptorily calling for the balance in excess then owing.
This Bank is said to be in like manner restricting its
operations, and calling in its advances in other quarters,
which it is feared may lead to the break-up of other
establishments who have over-extended themselves. The
policy seems rather harsh, but may nevertheless be
justifiable and expedient in regard to the Bank's own
interest ; for it has undoubtedly been exposed to many
heavy losses.
CHRONICLE.—The general accuracy of tho finan-
cial statement made by Mr. Baring during the recent de-
bate is fully supported by the official accounts of the pub-
lic debt and expenditure recently laid before Parlia-
ment. Mr. Goulburn, in reply, did not dispute the re-
sults, but applied himself chiefly to a consideration of
details, and an objection to the comparison of periods
taken on the principle of average. He observed that in
the " average of the five years which comprised the Duke
of Wellington's Adminstration it must be borne in mind
that the expenditure of the first year was very high, and
of tin' last very low. The expenditure in the year 1825
was 54,895,9491." That of 1830 was 52,018,6171., which
is lower, but decidedly not " very low," for in the year
1832 the expenditure was but 50,908,3281., while in
1835 it was only 48,787,6381., being 3,230,9791. below
the " very low" expenditure referred to by the Right
Honourable Gentleman. Mr. Goulburn also observed,
that while the average expenditure during the five.years
of the Duke of Wellington's Administration was con-
stantly decreasing, the reverse was the case during the
last five years. This is true, but the Right Hon. Gen-
tleman korgot to notice that the decrease steadily con-
tinued after the Duke of Wellington quitted office, and
that it was not until the state of public affairs rendered
the same course of economical expenditure inconsistent
with-due attention to the public interests that any in-
crease was incurred. Mr. Goulburn took no notice of
these facts. He did not allude to the great reduction of
the expenditure effected by the Whigs after the Duke of
Wellington retired from office, nor the frequent and
fierce attacks which the Tory party hurled against the Go-
vernment of Lord Melbourne for not forming the army
and navy estimates on a scale of sufficient expense.

LAW INTELLIGENCE.
COURT OF BANKRUPTCY—Aug. 31.
(Before Mr. Commissioner FANE.)
IN THE MATTER OF JOHN HENRY BARLOW.

The bankrupt was a stockbroker carrying on business
in 'Change-alley, and this was the day appointed for his
final examination. He was examined as to several items
in his balance-sheet, from which it appeared that his
profits for the last four years had averaged 2,000/.
a-year, and he attributed his bankruptcy to losses sus-
tained in the United States Bank and railway shares,
but more especially in the latter. He estimated his loss
upon the former to be fully 5,000/., and upon shares in
the "New Brunswick Land Company," at nearly 2,0001.
more.

The Learned COMMISSIONER asked whether the shares
in the New Brunswick Land Company were not worth
something, for he perceived that no value was assigned
to them in the schedule ?

The bankrupt said that, unfortunately, they had be-
come valueless, as the tide of emigration, which at one
time had promised to set to New Brunswick and the
other North American provinces, had subsequently been
directed to Australasia and New Zealand.
The Learned CO3IMISSIONER asked whether the bank-
rupt's accounts were satisfactory to the assignees ?
The official assignee (Mr. Pennell) said they were per-
fectly so ; the debts were about 5,0001., and the assets
would probably realize 1,2001.
The bankrupt having been sworn to the truth of his
schedule, was declared to have passed his final ex-
amination.

IN THE MATTER or CHARLES DALY.
The bankrupt was a publisher and bookseller, carrying.
on very extensive business in Red Lion-square, and
having left home a fiat was issued against him in order
to save his valuable stock for the creditors. At the last
hearing his housekeeper was examined at great length
as to her knowledge of the place of his retreat, but she
positively swore that all she knew was, that upon leav-
ing his house he said he would proceed to Manchester,
and return in a few days. Some further proofs of debt
were to-day admitted without any opposition.
Mr. Laurence, who attended as solicitor for several
creditors, said he expected there would be very nearly
20s. in the pound ; but the bankrupt's books were so
loosely kept that no assistance could be obtained from
them in the settlement of his affairs. The stock, which
was valuable, had not yet been sold, in consequence of
the great depression in the book trade, and hence an im-
mediate dividend could not be declared.

The bankrupt not having surrendered to his fiat, the
usual proclamation of outlawry was issued against him.
It is supposed that he has gone to New York or New
Zealand, and amongst the latest books published by him
before his departure was the splendid edition of Burns'
Works, edited by Mr. Cochran.

INSOLVENT DEBTORS' COURT, Aug. 31.
This day was appointed for the hearing of bail eases,
and the list on the occasion presented a most extraordi-
nary appearance, there being no less than 127 applica-
tions from debtors in actual custody, to be discharged on
sureties, of which 81 were confined in the metropolitan
prisons. Orders were sent on Monday to the keepers of
the London gaols (the attendance of the country insol-
vents not being required), not to bring up more than 40
persons to-day, as it was considered that 86 cases (with
the country applications) would be sufficient business for
the day. _ _ _

Info-rmation was received this morning that the
Learned Chief Commissioner, who had intended to sit,
was unable to take his seat from serious indisposition,
and the business of the Court was delayed, in order to
obtain the sanction of the authorities of the Home-office,
enabling Mr. Nichols, the senior Barrister, to preside.
Mr. Nichols could not cOmmence business until nearly
one o'clock, when the Learned Gentleman proceeded
with the country bail, which had been investigated by
the Chief Commissioner on the previous day.