The Sun.
London, England, 1841-03-12 00:00:00

criticism upon their functions at the price of 4001.
sterling. It may truly be said that " they order these
things differently in France."

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF YESTERDAY.

CHRONICLE.—The news brought by the overland express
from India of the state of negotiations with the Chinese authorities
had scarcely any perceptible effect upon the funds. The feeling,
however, was rather heavy in consequence of the uncertain
position in which matters stood at the most recent date, and
had it not been that prices had been considerably depressed so
soon before by the intelligence from the United States, it is the
general opinion that the market would have given way.
Business, however, was extremely limited. There was, in fact,
nothing doing, the jobbers being kept in a state of suspense
by an announcement of the arrival of the packet ship England
from the United States, three days later than the last advlces,
and that her despatches might be hourly expected.
POST.—The accounts from China produced no change
worth noticing in the value of the funds. Consols ranged dur-
ing the morning between 8811 and 88,1 for money, but files of
American papers having reached the North and South Ameri-
can Coffee-house in the course of: the afternoon, with intelli-
gence of three day,f later date frdin New York, renewed ope-
rations were elite. into. Thews from this quarter is con-
sidered by our commercial men yno means less pacific than
that obtained by the West Chest . The internal exchanges
ilb
had improved considerably, while the resignation by Mr. Web-
ster of his seat in the Senate of the Supreme Legislature,
preparatory to the assumption by him of the office of Mi-
nister for Foreign Affairs under the new Administration,
could not but be regarded as an auspicious circumstance. These
matters being, however, but imperfectly understood at the
Stock Exchange, some transactions hastily concluded in the
after part of the day presented a retrogradation in the money
value of stock of ito A per cent. On a more dispassionate pe-
rusal being given to the advices brought by this opportunity
(the England arrived at Liverpool), which come down to the
20th ult., a re-action may be confidently looked for.
Great Western Railway Shares were 23 to 4 prem. ; Birm-
ingham, 76 to 7 prem. ; Brighton, 7i to 7. dis. ; and Black.
wall, 5i to 5 clis. per share.
An address to the Shareholders of the British Iron Company,
on the critical position of that unfortunate concern, has been
printed. It is rather an angry production, but at the same
time free from coarseness, and, as the hints thrown out by the
writer for the guidance of his co-proprietors and fellow-
sufferers touch their interests very closely, it is, never-
theless, entitled to an attentive perusal. If we un-
derstand its contents correctly, the Directors of the
company are making calls on the Shareholders with the view
of paying Mr. Attwood the large sum awarded him under
the late appeal (Small v. Attwood) to the House of Lotds.
The Shareholders are urged to resist these calls, on the ground
that after the fullest, the most unqualified, assurances have
been given them by the Counsel employed that " there is no
liability" to Mr. Attwood for the payment of the money—as-
surances which have been repeated and persevered in for years
past—the point contended for is now all at once to be aban-
doned. It seems still to be admitted that the Shareholders
have yet to obtain justice, but any further law is deprecated on
account of the ruinous expense of it, and hence the determina-
tion of the Directors to comply with the decision of the Lords,
by paying over to Mr. Attw,od 350,0001. as the value of an
estate " acknowledged to be worth only between 90,000/. and
100,0001.

TlMES.—During the greater part of the afternoon much
uneasiness might be observed in the city. A vague report had
reached the coffee-houses and other places of City resort that
the news arrived at Liverpool was of an unfavourable descrip-
tion, although there seemed to be no notion what the intelli-
gence actually was. The arrival of eur express was looked
forward to with anxiety, and when the papers were published,
they were sought for with avidity. Mr. Fil!emore's resolu-
tion on arming the country was not regarded generally in a
very serious light, as the modifications which that reso:ution
underwent were considered to weaker. its effect. Some
looked with greater apprehension to the threatened ex-
ecution of Mr. Al'Leod, as an- inevitable cause of
war, if such an act were to take place, though per-
haps what was considered the most alarming of all was the re-
solution referred to the Boundary Committee for removing the
British troops from the disputed territory. The intelligence
altogether has, doubtless, had its effect in strengthening an im-
pression that the disposition of the Americans is not so far from
hostile as has sometimes been supposed in the City, and that
the bad feeling of the people of the United States does not
merely belong to a small party, while anything like very serious
alarm is greatly checked by the belief that the Americans
would find it almost impossible to sustain a war. In the Consol
Market the fall was near a per cent. immediately on the receipt
of the news, but this is attributed to the operations of a few
speculators for the full, who have taken advantage of the late
arrivals to depress the market, and the want of some leading
capitalist who might sustain prices.

DESTRUCTION OF THE FALLS

OF NIAGARA.

The following account is contained in an " extra from
Buff,lo," received at New Ynrk

" Office of the Advertiser, Buffalo, Feb. 14, 4.o'clock

We hastan t., announce t) our readers and to the
world an event in its nature at once the most stu-
pendous and sublime that has ever been recorded in the
ann ils of the wonderful. The Falls of Niagara—the
unmatched phenomenon of nature—the centra'ization of
power, grandeur, and beauty—L.oe theme of poesy and
the material of the travel:cr—the resort of the ennuie,
and the delight of the sus( eptibl)—is no more.
" On Saturday morning, about nine o'clock, were
manifested the first symptoms of the great catastrophe
that slim tly ensued. Mr. Arnold, a citizen of the vil
lege, whild waiting at the foot of the spiral staircase for
the return of the boat, in order to execute an errand on
the opposite side, perceived thejutting rocks which formed
on the Canada side the famous sub-marine cavern, to break
away and fall into the cauldron underneath. The inci-
dent itself, and its effect on the aspect of the Fall, were
so remarkable, e.at he returned to the village and com-
municated the facts to several citizens ; and very soon
a large group had collected to watch for further deve-
lopments.
"In the course of' an hour considerable masses were
dislocated and thrown down. The sheet of water that
before fell abruptly, almost perpendicularly, with an
unbroken breast over the protruding cave, of course
now shot down an obtuse angle, losing its graceful and
majestic curve, but gaining in tumult and effervescence.
By three o'clock p.m., the number of spectators was
augmented by many from Buffalo, ourselves among
them. Nothing farther transpired that night. Early
next morning parties were anxiously gazing towel ds
the Falls, despite the severity of the weather, expecting
to see the work of disorganization proceed.
" At half-past seven o'clock, a wide space of the
frontal bastion, near to Goat Island, within the horse-
shoe, fell down ; and then followed effects with greatly
accelerated rapidity. What was actually taking place
could only be surmised, as the great confluence of water
hid the immediate stage of operations from sight. But
it was plain to all that the suppOrting fabric of the cata-
ract was fast wearing away Wore the tremendous en-
ginery. Its immemorial durability might have
been owing to the strongly-intrenched and ada-
mantine rampart that had always presented its
shoulder to the assailing flood ; or the whole,
equally compact and secure, might have been
preparing for this demolition, through ages of sarping,
solving percolation. The angle of descent every minute
diminished. At half-past eight the Biddle Tower
and all the adjoining groundwork had disappeared.
The tower sunk into the gulf like a subsiding wave.
Shortly after, the water having made a subterranean
passage, burst through the wall of Goat Island,
cumbered with masses of rock and rolled with earth,
and as instantly the crust above collapsed and
mixed in the wild chaos below. In rapid succes-
sion, on the Canada side of the island, mass followed
mass, and the island, throughout its entire length, was
chafed and narrowed down to a lean stripe, which re-
sisted further encroachments as if of more substantial
constituents. On the British border, the wall of loose, fri-
able rock was gored and ploughed away, until the Table
Rock, so much resorted to by visitors, fell down in
fragments, the spiral staircase toppled, and for awhile it
was expected that the hotel would follow. It still
stands, though in a perilous posture, all the furniture
being removed. Oa the American side the great shelf
is unmolested ; but the water falling over Is greatly
diminished, it being diverted to the largely increased
channel on the British side. Here the waters have a
prolonged fall of nearly a mile, the plane of course very
gentle, commencing above Goat Island, and ending
below the old fording place, the intermediate space being
filed up and graduated by deposits from above.
" The appearance of the Fall in its new shape time
will not permit us to sketa.
" P.S. The hotel is gone, we learn. It is believed
no lives have been lost."