The Sun.
London, England, 1841-08-12 00:00:00

VIONEY MARKET and CITY NEWS,

FROM TIIE MORNING PAPERS OF YESTERDAY.
CHRONICLE.—Prices in the Share Market were
•ominally the same as yesterday, with the exception o'
iirightons, which gave Way about 10s. per share..
The business transacted in the Foreign House was
principally confined. to Spanish Actives, which expe-
rienced a slight decline. •
We have received Hobart Town papers of the 9th
/pril. The first half-yearly meeting of the proprietors
if the Colonial Bank had been held at the Company't,
i3anking-houseii.when the accounts were audited, and a
4eneral statement of the affairs of the shareholders laid
iefore the meeting. The members present expressed
hemselves highly gratified at the general statement and
lettering prospects of the Company. A dividend at the
_ rate of 10 per Bent. per, piinuna had bean declared on the
paid-.up capital.
.1. IA, w oaiiiiing establishment had been opened a
:13w 'days under the management of Mr. Burke ; it
vas called the New Colonial Bank. It was under-
;tood to be essentially a Jell:it-stock Company, although
die names of . the shiteholders had not gene-
-ally transpired. His Excellency the Lieutenant-
aovernor had been to Green Ponds for the purpose
if communicating to the Canadian prisoners the sub-
;tance of a despatch which he,had received from the Se-
.!retary of State, in answer. to a recommendation for a
'litigation of their sentences, which he hal forwarded
acme soon after their arrival in' the colony. They were
.0 receive tickets-of-leave in February next, which will
'ie two years from the time of their landing. His 'Excel-
lency's interference in their. behalf had given much skis-
action in the colony. Wheat was' finding its way freely
.o market, and the demand was steady ; and it was not
anticipated that prices would rise Much. Wheat was 6s.
:ct 65. 6d. per bushel. Her Maje4y's discovery ships
Erebus and Terror, Captains Ross ;and Crozier, arrived
it Hobart Town, after a voyage of six months to the
antarctic pole. The expedition, it is stated, had been
crowned with the most complete success.
TlMES.—There was a fair amount of business doing
to-day in the foreign exchanges. The rate upon Paris
remained the same as last post. Amsterdam and Ham-
burgh were a trifle lower. Owirfg to the great deinand
for Vienna and Trieste, bills upon those places were ne-
gotiated at remarkably low prices.
A Trinidad paper, which has been -.received in the
City (dated the 24th of June), contains an account
•a very important meeting held at Port of
Spain on the proposed modification of the sugar
duties by the Ministers. It seems that when the meet-
ing was convened intelligence had not, been received
of the defeat of the measure; but, although this result
:lad transpired before the appointed 'time, still the
position of the colony was considered W be so critical
that the meeting was deemed necessary. The reso-
lutions passed were to the effect, that it was absurd for
a Government to expend thousands in repressing the
traffic in slaves while opening the English market to
the produce of slave labour, thus enhancing the slave-
holder's profit, while professing to exterminate his
trade, and that Trinidad alone, with a sufficient labour-
ing population, would be capable of producing more
sugar than Britain could consume, and at a cheaper
rate than it can be raised in Cuba. The tendency of
the arguments used at this meeting, in which the chair- '
man, Mr. H. Burnley, took the lead, was 'to show that
all restrictions on the increase of labour were inconsist-
ent with a lowering of the protection. :..At the same
time the Chairman took pains to inculcate the opinion
that at some time or other a reduction ,of the diffe-
rential duties must take place until protection should
reach its minimum point, as indeed he said the great
experiment of free labour was to 'raise produce
cheaper than could be done by slave labour, which once
effected, all differential duties must expire. Trinidad
alone, according to the estimate of one of the speakers,
can supply Great Britain with 300,000 tons of sugar,
and there are in the island 1,000,000 acres of land fit Ix
cultivating the cane, without the means lof cultivating
them. At present the labouring population of Trinidad
does not, it seems, exceed 12,000, and during slavery did
not exceed 8,000, when in one year it produced 30,000
hogsheads of sugar, while Barbadoes, with 80,000 slaves,
produced no more. This difference of result is produced
by difference in fertility of soil, and Trinidad stands in
every other respect in a worse position than Barbadoes;
for, according to a statement made at this Assembly, the
planter in the former island pays nine times as much for
labour as the planter in the latter. The inference to be
drawn from the statements is, that the quantity of sugar
produced is no proper basis on which to calculate the
productiveness of our Colonies. .

lIERALD.—Money, it is complained, i$ getting more
" tight" in discounts, although in the Stock Exchange it
appears to be easy enough. The funds remain heavy but
without improvement in prices, although a large pur-
chase of 100,000/. Consols was effected towards the close
of the market, which however was understood to be only
to close a bear spqeulation to the same amount previously
sold out.

Hobart Town papers to the 10th of April have been
received. They notice the return to the colony of the
exploring expedition under Captains Ross and 'Crozier,
after a voyage of six months towards the antarctic
pole, that is from Hobart Town, which they left
in the beginning of last November.. It is stated
that they penetrated to within one hundred miles dis-
tance of the pole, when their farther progress was blocked
by immense barriers of ice, traced for several hundred
miles. Trade was still in a depressed state in the
colony, with but a remote prospect of material improve-
ment in respect of .goods imported. The markets there
were overloaded with all sorts of goods on venture or
consignment, and the enormous ',mount actually in store,
estimated at half a million sterling, exclusive of cargoes
not then landed, of which there was • a consignment to
one house alone of the value of 7,000/., may be accepted
as additional evidence, were such wanting, of the mad
extent to which over-manufacturing has been carried in
this country, and consequent over-trading to a colony so
small and of such limited powers of consumption.
The following letter is recommended to the perusal of
the Portuguese financial agency, and all whom it may
concern. The whole affair of the Portuguese Conversion
has been so discreditable that the Continuance of unfair
play may not unreasonably be suspected. Some inquiry
may probably elicit hereafter further information on the
points referred to :
PORTUGUESE CONVERSION.

" Brighton, Aug. 6, 1841.
" Sir,—llaving made several applications through my
broker iu London to procure for me a list of Portuguese
stock, converted subsequent to April last, and which the
agents advertised nearly two months ago as being in
the course of preparation, and to be published as soon as
possible,' and not being able to obtain any other answer
than that the lists are not yet ready, nor can the agents
state when they will be,' I:think it right to call the at-
tention of the public, and the Committee in particular to
the subject. It appears to me to imply a doubt as to the
correctness of the amount published as being converted,
and in any case should: be seen into without further de-
lay.—Begging you will excuse this liberty, I remain, Sir,
your obliged and obedient servant, " D. 0."
POST.—The circumstance of Mr. P. J. Zulueta hav-
ing declined to act as agent for the Three per Cent. Gam-
boa Conversion of the arrears of interest on the Active
Bonds of Spain, for the refusal seems now to be noto-
rious, has led to a good deal of discuSsion among the
bondholders as to the probable cause. We think we have
ourselves already afforded a fair solution of the princi-
pal object. M. Zulueta has his reputation as a merchant
to look after, and he sees great inconvenience in having
his counting-house besieged by the holders of the con-
verted stock, calling for payment agreeable to public
notification on a specific day, without having in hand
the requisite funds to answer their demands. M. Zulu-
eta is but too cognisant of the fact, that the embassy
which took upon itself the execution of the Treasury
Bond-Decrees of 1836 was placed precisely in this humi-
liating position, and that it has to the present moment
the stain attaching to that base affair to wipe out.
We have reason to know that M. Zulueta has remon-
strated with his Government in the most positive man-
ner at the hale disposition evinced by it' to redeem its
sacred pledges of 1836. In these remonstrances he was
warmly supported by the late Senor Pebrer at Madrid,
a gentleman well versed in the financial affairs of his
country, as also by the respectable agent in the busi-
ness here, Mr. Isaac Lyon Goldsmid ; and it is perhaps
by the dogged determination evinced to withhold justice
from the parties compromised until theocase shall be ab-
solutely dragged before a British Jury, that M. Zulueta
is mainly influenced in the course he has taken.
•

DEPRESSION OF TRADE.—We would fain be
spared the pain of, week after week, having to report con-
tinued embarrassments, losses, and unprofitable business
in the commercial world; but duty and truth compel us to
do so. A more harrassing week in business than the past
we do not recollect to have known. There has been a
great want of confidence manifested, and where parties
have been compelled to 'force sales, the most ruinous
sacrifices have been made. Orders, whether for yarn or
goods, have been exceedingly restricted, considering. the
season of the year, and invariably executed at declining.
rates. To tell the number of spinning and manufactur-
ing concerns whiCh are at a total stand, or only partially
worked, and of the multitude of honest operatives
thrown out of employment, and reduced to beggary and
starvation, would be next to impossible, and appal the
stoutest heart. Let any man take a survey within a
circle of 12 miles round Manchester, and see the dilapi-
dated and deSerted dwellings, the miserable and meagre
wretches seeking about the country for work, or craving
a rnorself of bread ; let him mark the signs of bank-
ruptcy, and a ruinous depreciation of property, which
everywhere meet him ; and then ask himself if such a
commercial hurricane ever devastated the country be-
fore ?-11/anchester Courier.

OPTICAL AND ACOUSTIC AIDS.--.E. SOlO-
- and Co., Opticians, &c., have succeeded in producing Hear.
ing InstrUments, measuring onlya quarter-ofan.inch In diameter,
which realise the most beneficial consequences, being applicable,
with similar results, to the Ear, as Spectaclesare to the Eyes. The
transcendent excellence of their celebrated Patent Spectacles has
been infallibly demonstrated by the immense good they have inca.
riably effected—in short, the high recommendations and approval of
the greatest medical authorities in Europe, including the pre.etni.
neat names of Sir Benj. Brodie, Bart., F. R.S. ; Sir James Ander.
son, M.D ; Dr. James Johnson ; the late Sir A. Carlisle, F.R.s.,
&c. &c., are sufficient guarantee for their superlative advantages in
the assistance and preservation of sight. The following testimonials
are confirmatory ef all that could be said in praise of these invalua..
ble assistants :—From Bransby Cooper, Esq., F. R.S., Surgeon to
Guy's Hospital, &c.—"Fromthe use I have made of a Patent Lens
produced by E. Solomons and Co., and comparing it with those in
ordinary glasses, I have no hesitation in saying that, to my t
flight, the
former is infinitely preferable in being less trying to the Eye.
B. B. COOPIIII, 2, New.street." " London, 13, Holles.streott and
27, Marlborough-buildings, Bath.—Earon Browne Mill
has great
pleasure in being able to say, that the Spectacles adapted to his sight
in his sight being so materially improved from
some years back, afford him the most perfect ease by day or candle
light. Reis happy
the use of their Spectacles, and feels it a duty to recommend them
to all persons requiring optical aid." N.B. IN consequence of the
various attempts to impose base imitations on the public, and the
Patentees being entirely unconnected with persons advertising
Old Jewry,City.
under the same name, their subjoined address should be cautiously
noted, 36, Old Bond.street, and I,