The Sun.
London, England, 1840-10-10 00:00:00

i (Thr

M ONEY MARKET and CITY 1:%:10:

(YEIDA-T EVENING.)
CHRONICLE.--We understand that the Com
mittee of Spanish American bondholders have itMi-
in
contemplation to ca I upon Senor Moreno, the
nister of Buenos Ayres, and the Peruvian agheseeut,
twore-
lative to some arrangement of the debts of t
States.
Peru has now enjoyed a state of peace for some time,
and, as her Custom-house revenues were formerly es-
timated at from three to four millioe dollars annually,
it is thought that, following the example of Mexico, a
sufficient appropriation of her customs should be set
aside to meet the interest of her foreign debt. The
blockade of Buenos Ayres, under present appearances,
may be expected to terminate soon, and it is quite cer-
tain that a small amount from her customs revenues
can be easily set aside for the payment of the interest
on her foreign loan. It is expected that the Messrs.
Barings, who were the contractors, and obtained high
terms for that Republic, will, from their respectability
and influence, promote this desirable object, which is
about to engage the active attention of the Committee.
The conversion of the Mexican Bonds terminates
this day, which reduces the Active Debt nearly two
million sterling, and confines the transactions in this
particular security to one Stock, viz. the Five per Cents.

TIMES.—The affairs of Hammersley's bank are
• transferred to the superintendance of the Court of Chan-
cery, the tribunal whose delays are so much dreaded by
all those creditors to whom an early distribution of as-
sets is matter of any importance. By a notice which
appeared on Tuesday last under a decree of that Court,
tAc creditors are to come in and prove their debts be-
fore a Master in Chancery, or be excluded from the
benefits of that decree. This issue could not, it is con-
ceived, have been arrived at, had only a little exertion
been used by the legal representative of the late Mr.
Ihmenersley, and by the leading creditors who might
then probably have provided a much better protection
for the general interest and their own. They have thus
shut out, too, as it would appear, the inquiry, second
only in importance to the sufficiency of the assets, whe-
ther there are not parties in existence, against whom
the liability of partnership in the firm may be esta-
blished. _ _ _

A. friendly concurrence between the executor of Mr.
3-Jammersley and the chief creditors, who would have
justified in offering to him any guarantee that
he ro;iht require, would at least have insured a speedy
realization And division of assets. Looking to the mode
in which banking business is generally conducted, a con-
-version into money of the greater or of all the securities
field need not have been the work of more than a few
days. What was obviously available could therefore
-fafe been shared at once, and the c►editors would have
been left at liberty to pursue their cirrns against others
who have been partners in secret, or who have failed i❑ ,
.obtaining legal release from the obligations of former
atttual partnership.
a the early stage of the failure some hope was crea-
ted ,n;ong the creditors by a letter of Messrs. Coutts,
who had .ipterfered to protect some of the customers,
that such interference would have a further and more
important extension ► but it ought to have been seen at
once how exceedingly limited it was in its character.
The interval between the death of Mr. Hugh Ham-
mersley and tho arrangement placing the affairs of the
house in Chancery appears to have been one of much
confusion and uncertainty. Parties who had deposits
there, and who, naturally anxious about the fate of their
property, had applied day after day to learn what was
going on, have stated that all the subalterns were per-
fectly bewildered and unable to offer a word of infor-
piation and encouragement. One of the questions to
which, like the rest, no answer could be obtained was,
whether the affairs of the house were likely to be
thrown into Chancery," and proved the dread with
which this alternative was viewed by all.
With respect to liability arising out of former close
connelxion, amounting to partnership, there are rumours
nurri..nt of DO indefinite character, charging the present
mysterious conduct of the representatives of the de-
ceased banker upon the secret and artful machinations
of a party, who, hi order to screen himself, is now
rising his influence to entangle the interests of the cre-
ditors and the affairs of the firm, until the property is
frittered away in law or Chancery proceedings. With-
out vouching for the truth of any such rumour, this re-
sult would indicate that at least the danger apprehended
has come upon them. They have now only to await
she issue with patience, and an abundant exercise of that
quality will no doubt be required.

i:ERALD.—A report has been published by the
officers sent to India to ascertain the capabilities of
that country, by the cultivation of flax, to render us in-
dependent of foreigners. It is stated that the climate
is peculiarly favourable for its production, and that any
quantity can be raised ; in fact, to so great an extent,
that at present, if their operations be sanctioned, it is
pruposed only to give the natives instruction as to the
alterations which sho:Ild be made in their present plan
of not separating the must,:skl seed. A description of
11,1 x, (known by the name of jute) has for many years
formed a staple article of commerce between the coon-
tres, and of late been most beneficial to Scotland, by
caus►ng the manufacture of a common species of bag-
ging so ',we, as to render it an artice of export in the
made-up state to the producing country. But a few
years since the rnuslins of India were imported here ;
now, by the reduction of the duty upon the raw mate-
rial, and the improved machinery' of this country, Eng-
laud supplies India with the same articles which used
to ha received f:om thence. Even the comparatively
trifling article of bagging can now be made here more
cheaply than where the raw material is grown, There,
fore, if our own manufactures are to be encouraged, the
raw material should be burdened as little as possible.

POST.—Although it would be premature to specu-
late upon the certainty of the influence of reason in the
approaching Chambers of France, it has become the
general opinion that the fury of that nation is about to
be cooled, and that, with the dismissal from power of
the present Administration, the former pacific relations
will soon be re-established between England and France,
Already some parties are of opinion that consider-
able advantages may be found to have arisen out of
the recent alarms, the true position and power of
France having been ascertained by the discovery that
all the rest of the European nations have not gone
under ground in consequence of
i the threatening lan-
guage of M. Thiers, and this oson is thought to
be useful in preventing the lecurrecwe of alarms
which otherwise might never have known afrf end.
it is also remarked that monetary affairs may be ex-
pected to improve by the greater supplies of bullion
which are now being paid away amongst the workmen
who are building the fortifications around Paris, to the
diminution of the very large mass of Government bul-
lion which has long been buried ha the vaults of the
Bank of France. This money must now be poured
out for the wages of labour in the fortifications of Paris,
and throughout the garrisons and seaports of France,
and even the warlike E. Tniers may not have perceived
that French gold must be paid to the English merchants
for the extensive shipments which have been going for-
vrard of muskets, lead, saltpetre, copper, and tin. The
prices of these articles of war have been largely advanced
by the orders from France ; and, as the bilis are supposed
to Se intended to be paid, it follows that the gold must be
produced
from the vaults of the Bank---a result which
is very mach to be desirJ, not because France will be
impoverished by the possession of enormous masses of
warlike stores, which will be useless, 02d sold at last at
a loss of millions upon millions of francs, Lz..,t that the
gold circulation of Europe will be conside'ably relieved
by the emptying of the vaults of the Bank of France.
It appears from the statement of the affairs of this in-
stitution that the bullion belonging to the Government
was recently not less than two hundred and forty mil-
lions of francs, a sum the burial of which must have
been an extensive injury to the commerce of France,
and the policy of its accumulation so enormously erro-
neous that the reproduction of this money into the
metallic circulation of Europe is alone considered to be
zsufficient reward for the terrors which have been in
.
licted upon the nation by the soon-to-be-forgotten M.
Thiers.

SUN.—The English Securities were firmer and more
buoyant tc-day, and the rise on the lowest quotation of
yesterday was I per cent. For immediate transfer Consols
left off to-day at 86/ to ; and for Wednesday next at
87 to 86/ y. The New Three-and-a-half per Cent.
Annuities improved to 961 to ; Exchequer Bills to
Is. and 2s. premium ; aud India Bonds to 15s, to 16s.
discount.

The Foreign Securities haveof
obeen a little better to-
day, influenced by the state
little in any of thes
h„ ht:'en a fair business or own funds. There
transacted la .
other Stocks.
Dutch lit:gull? but very Peninsular and
Spanish ACt;feS rose from 22 to 22} ;
32* ; -,ortuguese New
Five per Cents. were dull atFrench Five per
Cents. improved from par to 1001 and 100 francs
ri.but
the Three per Cents. were at 6
francs ; Dutch
and-a-half per Cents. were 45i to 49 ; and the Five °-
per
Cants. nominally the same as yesterd3y. Russian Boids
were heavy at 108 ; Danish were a shade better, viz.
73 to 74 ; and Colombian Six per Cents. were neglected
at 22.
The Railway Shares have evinced A tendency to
rally, and there bas been a trifling increase of busi-
ness. Great Western Shares touched 16 to 18 pre-
mium, the New 55 to 6 premium, London and Birming-
ham 72 to 73 premium, Quarter Shares 20 premium,
.r., w ditto 21 to 21-i premium, and South Western
' -41 Prerni Brighton-
i;ii.oarttiohnaNilidiiii:.• were 115, Blackwell 3i, New
Midland 15, and Eastern Counties 131 discount.
And National Bank
of
Ireland Shares were 2i discount,
Tbe
genertiPi
character
185 premium.
much
of the Foreign Exchanges this i
afternoon was
Iwo the same as on last post-day. i
They wire again
and Frankfort. lzheespecially, as regards Amster-
dammost current rates at which
paper was negotiated wereo these :—Paris 251. 32c,
to 37i ; Hamburgb
13
ji,Antwerp 1 14. t, 4to 7, Amsterdam 12 1 to
Frankfort 148-J
•