The Sun.
London, England, 1840-12-15 00:00:00

EVENING EDITION

MONEY MARKET. and CITY NE W S.

(MONDAY EVENING.)
CHRONICLE.—We learn that the notes of the Bank
of Walsall, in South Staffordshire, have been refused to-
day by their London correspondent. The late manager of
this establishment was pros;:euted by the Directors for ap-
propriating funds of tb:d establishment to hie own uses.
The action was un:.accessful, on the ground that, being a
shareholder an,...1 partner in the concern, he could not com-
mit an av of felony against himself. This result led to
an a',-
''4ration of the law affecting joint-stock banks last
"..esion, making it criminal for shareholders of such es-
tablishments to embezzle the money of any bank in which
they were partners.
In the Canon Register of the 14th of July last, there is
a table giving the export of tea and silk shipped from the
anchorages of Hongkong, Toonkoo, and Kapsalyrnoon, to
various ports in Great Britain since July, 1839, to July,
1840. The total results are:—
Black Tea.
Green ....

19,465,15:3

6,..,03,302

26,295;491 lb s.

Teas taken to Singapore and Rhio,
for transhipment to Great Bri-
tain, per Ann M'Kern, Acbar,
Montezuma, Lintin, Tartar, Pa-
trivia, about i ,000,000

29,295,491 lbs. yea.

Any; Silk .....

2,630 bales.

POST,-.The following is an extract of a circular
received in the City this morning, from the Straits of
India, by the Oriental steamer :
The circumstance of the blockade not extending to the
trade with Canton by the Macao passage has induced come
Traction to ship cotton and Straits produce, under the
impression that this trade will be allowed to continue un-
interrupted both by the Chinese and English. Some
are of opinion, however, that these lenient measures at the
outset are only to continue until it is known what re-
ception the demand from the British Government meets
with at Pekin, and, if unfavourable, that the strongest
measures practicable by the present force will be adopted
bolt at Canton and along the whole coast. It is more
than probable that the Emperor will order the barba-
riane to return to their country under threats of total an-
nihilation, and that nothing will be obtained by nego-
tiatioe ; bat whether Chusan will be taken posses-
sion of, and trade allqwed to go on there and at Macao,
until the differe"es arc finally arrange], it is quite impos-
sible to say. nodouLt one of the steamers would be de-
slutch',...4 for Calcutta with intelligence of the result of the
"e"aiand made at Pekin. Before that is known no idea can
tee formed as to the measures likely to follow ; and, under
present advice., it see., to be generally thought UDS,.lie to
ship anything but opium for China. Some private letters
state that the orders to the blockading squadron are to
in:Aetain a strict blockade of the Bogue except fiThing-
boats and opium smugglers, from which it would appear
the opium trade is not to be interfered with."
Cape of Good Hope letters and papers to the 10th of
October have come to hand. They communicate nothing
new, and are, in fact, no more than three days later.
A letter addressed by Mr. ArthurAndcnon to the Direc-
tors of the projected East Indian Steam Navigation Com-
pany has been published. After explaining that the pre-
prietors of the Peninsular line of steam-vessels have esta-
blished, under a contract with her Majesty's Government for
the mail service, a profitable intercouse with Spain and Por-
tugal, it proceeds to state that they have conclude], in
conjunction with the proprietors of the steam-ship;
Oriental and Great Liverpool, a contract for the transmis-
sion of mails between England and Alexandria (via Gib.
raltar and Malta), Greece, and the lonian Islands ; and
that the vessels and properties, with their double line of
snail arrangements, have formed a union for the purpose of
opening other lines of communication, particularly with
British India; the object of.the writer being to show that
a further amalgamation of interests, comprehending those
of the East India Steam Navigation Company, long since
set on foot by a number of influential gentlemen, is de-
sirable.

The benefits held out to the Directors of this Company,
as an inducement to themselves and their co. proprie-
tovz 'co fall into the measure, are principally these : 1. A
Royal charter of incorporation for the enlargement of the
basis anti operations of the two united Companies has
been obtained from the Crown. 2. Under this charter,
besides the other advantages it confers, the liability of
shareholders is limited to the amount cf their subscriptions.
3. A contract has been made with Government, fur six
years certain, for the conveyance of the East India
mails and despatches between England and Alex-
andria, &e., for which the. Company are to receive
the consideration of 2030001., on a graduated scale of pay-
ment, the first year's portion being 37,0001 , and which,
added to the sum receivable for the Peninsular mail ser-

vice, 29,600/., makes a total of 66,6f0/ , commences the
Ist of September. 4. The prosperity that has attended
the exertions of the Peninsular Company, and the increase
of traffic to be expected from the present extension of the
line. es. The satisfactory arrangements made for securing
the vessels of that Company, as also the new ships Orien-
tal and Great Liverpool, to nhich are to be added the
Montrose and Lotus, an iron steamer intended for plying
on the Nile. 6. The management is under the direction
of parties possessing, from long practical experience, a
competent knowleege of steam navigation.
After some delay in replying to the overtures of the
Peninsular and Oriental Company, the cause of which is
explained by Mr. M‘Killop, negotiations between the par-
ties have at length been entered upon. A result favour-
able to the proposition is probable, as the objects of the
East Indian Steam Navigation Company appear to have
been very much superseded through the greater activity of
their rivals, by whom everythihg has been placed in a
state of forwardness curiously in contrast with the little
they have themselves as yet effected.
The Oriental and Great Liverpool steamers are already
mining between England and Alexandria. The Precur.
sor, of 1,600 tons burden and 500 horse power, intended
to ply on the line between Calcutta, Madras, Ceylon, and
Su.; is building ; while the Hindustan and Bentinck, ves-
sels of similar tonnage, arc, it seem; on the point of being
put, in hand.
it is considered that the whole of the machinery of this
extensive project will be in motion, providing a monthly
corunmnient;n l,etween England and her Asiatic depen-
tereirs, in little more than a twelvemonth. " Such," says
11r. Anderson, with pardonable triumph, " is the progress
made in a few months by a few individuals in an under-
taking which has btaed the enterprise of the wealthy and
influential merchants and others identified with that im-
portant empire."
Mr. Anderson's idea is that the Peninsular Company
should work the passage as far as Alexandria, leaving the
East India interest, or Company, to work, in concert with
them, the distance between Suez and India ; or that the
subscribers to the elder Association should perform a junc-
tion with the Peninsular and Oriental Company, by be-
coming shareholders of the same, and appointing persons
iu their confidence Directors, to represent them in its ma-
nagement ; the latter mode of proceeding being, as he
conceives, for the reasons given, the more eligible, pre-
senting, es it does, greater facilities for the speedy con-
summation of tho " conprchensiva system" called L: by
M. )I'Kit:op's party,

TIMES —The arrival of the lelian letters to-day by
the wily of Fahnouth has increased the dissatisfaction of
the merchants, on account of the delay experienced, as
they now snd that the letters were actually directed via
Marseilles, and that, in spite of this direction, and contrary
to the wish it expre.:3cd, the sea route has been preferred.
answer received by the East Chi .a
ei,ti,tl to a Icttur add,e,sed by the m to the
13,7.. beet', that that dep.:dr:lent, tntm stat d entit cly cxt.ii,.-
rat,:,l of the aff,ir, since it h7s nothing to do v:ith the
tr-n;:y.'s-,ioa of letters beyond provilng a F.ea conveyance.
Altogether. there seems to be a want 'of system in the
P'• u ode of conveyance, since n.)t only on this
occasion have letters maiked " vie Marseilles come
by way of Falmouth, but the very reverse happened last
mil, when letters addressed " via Falmouth" came by the
wry of Marseilles. Of course, it fillews, as no eh are in
the blame i, admitted at the Admiralty, that the agents of
the I)6st-ofrie:" must be called to account for this great
derciict'on of duty and di,..obedicnce of clear and manifest
in-auctions, which exceeds any case of the kind that has
ever yet occurred. As if to aggravate the mischief es
much as possible, it appears that besides this preference of
the sea to the land route, another delay was caused
thiough the Oriental not being allowed land her mail:.
at touthampton, whence if thty had been sent up by the
railway, the merchants would have bad them on Saturday
mot:Ili:lg. Thus there are two distinct causes of delay,
which demand a satisfactory explanation, though the want
of Permission to land the mails at Southampton is much in-
ferior an importance to the other.

SUN.—The Market for the public securities WAS dc•
pressed all day. There appeared to be a feeling of anxiety
on the subject of the funeral ceremony at Paris to•
morrow, when it is feared occasion may be taken to
create disturbance:. The large number of troops likely
to be present is, however,
guarantee for the mainte-
nance of peace. Consols closed at 88:1 89 ; Ezeheque.
Bills at 3s. to Is. premium ; Bank Stock at 156 A ; and
the Reduced Three-and-a-Half par Cents. at 9* to
Active 7
Bands dropped from 24 to 23
The Foreign Market was inanimate. Spanish
; Portuguese New
Five per Cents. from 38
to 331 ;anti the Three
-1
per Cents. from 21i1 to 21i. These stocks were de-
pressed in addition to the causes acting upon the other
securities, by the accounts of the serious misunderstand-
ing between the Courts of Lisbon and i
Madrid, on the
subject of the Douro navigat.ori,wl.h I?wever it is
supposed will, in the end, be amicably adjusted. The
South Amer'ean Republican fonds .lower.sfvet7at2B.,
lembian of 1824, at 25.1 ; Mexican o i
s_
to
29 ; and Chilian at 36 to 57 ; Brazil
sock on the
contrary, improved from 71 to 72 ; Dutch
ntt-
a-Hilf per Cents. realised 51
i to ;and the ,Five I r
Cents. 9g to
The Railway Shares were, in a'e 'v secs, a trifle
lower, but no general depression occurred in prices.
There was a fair average business done. Great Western
Shares were quoted 00 to 9') the Now 10 to 91, the
"' 2
Birmingham 82, the Now 25, the Manchester and Leeds
8, the New 5, and the South Western 13.- to 1.1 pre-
mint". Brighton were 9to 92, Blackwall North
Midland 23, the New •), Lastern Counties 14-a, and
the Birtningharn and Derby- 061 discount. Provincial
Bank of Ireland Shares were lit premium.
It could _appear that the Emperor of the Celestial
Empire has faithful allies, though not formidab!e ones,
in a quarter least expected. One of these is the King
of Siam, who annually sends tribute or homage to Pekin,
and who has shown himself desirous to follotv the ex-
ample of his Imperial Master, by exerting himself also
in repressing the opium traffic. The King is reported,
indeed, to have said that he would extirpate every Eng-
lishman in his dominions the moment he received infor-
capture of a single Chinese junk. The.
maticis of the