The Sun.
London, England, 1841-12-18 00:00:00

WATER COMPANIES.

It is rumoured hat, in the caurse of the ensuing
Session of Parliament, application will be made for the
establishment of no less than three new Water Companies.
Such speculations cannot be too narrowly watched,
while specious prospectuses are appearing as regularly
as the' seasons come round, or any depression in the
money market affords a hope of tempting the capitalist
with 12.rge, but visionary profits. The official returns
made to Parliament very clearly show, that on the capi-
tal expended on the Metropolitan Water Companies not
more than five, probably not more than four per cent. in-
terest has been obtained, and this after all those Com-
panies had been, for years, without any dividend
at all. That the first effect of the establishment
.of new companies would be a fierce competition
and consequent lowering of the rates, by which all return
for waterworks, capital would be annihilated. That the
public would be apparently benefited is no doubt true,
but it is equally so, that the benefit would be only tem-
! parary and soon exchanged for loss and inconvenience.
As, on the one hand, no lowering of the rates charged for
water can increase the number of consuirers, nor on the
other hand can any portion of the capital expended to
furnish the supply be removed, it is obvious that the
Companies will, to use the language of the Report of the
Committee of the House of Commons, "first compete to
the point of ruin, then combine." But inasmuch as from
the same number of rate-payers the return upon a larger
capital must be drawn, the rates will of necessity be
raised to a higher level than that from which they had
fallen during the competition. Against such a combina-
tion it is quite clear that the Legislature cannot protect •
the public, nor will, we add, it deserve protection, if,
with the short-sighted and unfair view of obtaining a
great convenience at prices which will not now remune-
rate those by whom that convenience is supplied, it en-
courages a needless and wasteful expenditure of capital.
That the practical monopoly enjoyed by the Water Com-
panies is liable to abuse we are ready to - admit—that
there' may have been instances in which it may have
been so abused we are not prepared to deny—that the
Legislature would be perfectly justified in providing
some protection against any possible abuse (such, for
instance, as the Board of Supervision for the Control of
Railway Companies, but with more stringent powers),
we are perfectly willing to concede ; but we are quite
sure that, of all remedies for any evil or imperfection
that may exist for the supply of water to the metro-
polis, the very worst would be the establishment of new
companies.—Times.

THE LATE MADAME D'A !ISLAY, THE
AUTHOR OF "EVELINA," &c.—The Diaries and Letters
of this inimitable novelist and excellent woman, it ap-
pears, are very shortly to see the light. They are said
to be of the very highest interest and importance, and
extend over a long series of years. The literary cele-
brity of Madame d'Arblay, it will be recollected, early
acquired for her the notice of Royalty, and for some
time previously to her marriage she was one of the
Keepers of the Robes to her Majesty (Queen Charlotte).
During her residence at Court she continued her Jour-
nals, narrating conversations with, and giving anecdotes
and sketches of the Royal and Noble persons who
honoured her with their intimacy. This portion of her
MSS. is said to be unusually interesting, and the public
will, doubtless, wait with no small anxiety to learn the
impressions and feelings of a mind like that of the author
of " Evelina" and " Cecilia," surrounded by all the
splendour and gaiety of a Court. The work is to be
published, uniformly with the Life of Sir Walter Scott,
in monthly volumes, the first of which is announced to
appear on the Ist of January next.
THE NEW ROYAL EXCHANGE.—The- Lord
Mayor has issued cards of invitation to all the Cabinet
Ministers to a grand dinner at the :Mansion• house on
Monday, the 17th of January, to meet Prince Albert, in
order to celebrate the laying of the foundation stone of
the New Royal Exchange.
COMMISSION OF LUNACY—Yesterday a Com-
mission of Lunacy was opened at Hornscy• wood Tavern,
before Mr. Commissioner Phillimore and a Special Jury,
of vs hirh Arthur Stni:h, Esq., was Foreman, to inquire
into the state of mind of Mr. Charles Carter, an inmate
of Northumberland House Private Lunatic Asylum, at
t-3tolce Newington. It appeared from the evidence that he
was a native of Chelmsford, Essex, and had been under
confinement since the year 1818; he was in the habit of
fancying himself surrounded by a great number of per-
sons, and would swear and abuse imaginary beings. He
had no idea of the laitte of money, and the faculties of his
mind appeared to be entirely prostrated. When he was
introduced to the Jury .he started back.and seemed to be
exceedingly timid. All attempts to make him understand
the nature of the investigation were fruitless, and upon a
sovereign being shown to him he stated that it was a seven
shilling piece. One unusual feature in the case was that
the unfortunate gentleman expressed himself perfectly
happy, and exhibited great anxiety to get back to
Northumberland House. The Jury, after a patient inves-
tigation, found Mr. Carter insane, and incapable of go-
verning either himself or his property.
Air. Oaven Wynne, the oldest Irish Member of
the House of Commons, (lied at his seat, county of
Sligq, on the 12th inst., in the 86th year of his age.; He
repieiented that county iu the Irish Parliamont ;u 17;7.

MONEY MARKET and CITY NEWS.
SUN.---The firmness of the Stock Market continues,
although in the aggregate the transactions to-day were
not of magnitude. Consols for the Account were at 89'3
to 89+, closing at 89+ sellers ; Exchequer Bills were 10s.
to 12s. prem. ; and East India Bonds Is. prem. ; Bank
Stock was supported at .166 to 1651 ; South Sea Old An-
nuities were at 87 ; Reduced Three-and-a-Half per
Cents. brought 98+ to 99A ; and the Three per Cent.
Annuities, 891 to 89k.
In the Foreign Securities the bargains were neither
numerous nor important. Active Spanish Bonds were
flat at 23+ to 24 ; Portuguese New Five per Cents. at
321 ; the Three per Cents. at 19+, which is a slight im-
provement ; Mexican Bonds at 261, also a partial rally;
and lutch Two-and-a-lialf per Cents., 51+.
Railway Shares again bore a higher value compared to
that of the last week or so. London and Birmingham
were at 74 ; Do., _Quarter, 181 ; York and North Mid-
land, 40 to 41 ;Torth Midland Thirds, 2 ; Great
Western, 20 ; New, 101 ; South Western, 183 prem. ;
Brighton, 111 ; :Madman, 14 ; Birmingham and Glou-
cester, 35 ; Bristol and Exeter, 32 ; Eastern Counties,
14+ ; Manchester and Leeds, 41 ; Manchester and Bir-
mingham, 101 ; Midland Counties, 15 ; and North Mid-
land at 28 dis. Provincial Bank of Ireland Shares were.
17 prem. ; and National do., par. ; Australasia Bank
Shares were 13; and Colonial Bank New Shares, 2 prem.
In the Foreign Exchanges there was no important
variation this afternoon. The rates were as follows :
Amsterdam, 12 141- a ; Frankfort, 1491 to 150 ; Paris,
25f. 72iz:. to 771.:. ; Hamburgh, 13 101 to 4 ; Trieste,
9 51 t 0.52 ; and Antwerp, 12 3i34-.

WOOL VVICII, DEC. 17.
ROYAL ARTILLERY.

Lieut.-General Lord Bloomfield, G.C.B. and G.C.H.,
has joined from leave, and assumed the command of the
garrison.

"Upwards of forty non-commissioned officers and men
deemed unfit for further service, were brought before a
medical board, at the Ordnance Hospital, on Wednesday,
for examination relative to their state of health.
The Regiment still continues much below the esta-
blishment, notwithstanding that a considerable number
of recruits have joined during the present month.
Captain Cuppage's company, 9th battalion, relieved the
detachments at the Tower, on Thursday. Capt. Bing-
ham, and Lieut. Graham, accompanied the detachment.
Major Rayne's company, 2d battalion, and Major
Vaughan's company, 6th battalion, were inspected at the
Hospital, preparatory to being completed for field battery
service. The inspection of the former took place on
Tuesday, and the latter on Wednesday last.
Lieutenant-Colonels Sinclair and Stopford, it is said,
contemplate r. tiring on full pay. This will lead to the
vacancy of another Adjutancy. that of the 3d battalion,
and it is expected Captain Mitchell will succeed to this
appointment.

Several proofs of ordnance have taken place in the
Royal Arsenal during the week.

NAVAL INTELLIGENCE.
Captain Phipps Hornby, 0.13., Superintendent of her
Majesty's Dock-yard, Woolwich, has been appointed
Surveyor• General of the Coast Guard, vice Bowles, pro-
moted to be a flag officer.
The Acheron steam-vessel, Lieutenant-Commander A.
Kennedy, recently returned from the Mediterranean, will
be paid off at Woolwich on Thursday next.
The Devastation steam-frigate.—Commander Hastings
Reginald Henry has been completely restored to health,
and proceeded this morning for town, from whence he
will in a few days take his departure to join his vessel on
the Mediterranean station. •

The Growler steam-frigate is still at Limehouse, and
the following officers have been appointed to her:—Lieu-
tenant W. S. Sanders ; Mr. John Tucker, Master ; Mr.
J. Milner, Purser; Mr. John Rose, Acting Gunner; Mr.
J. Gouldsworthy, Acting Boatswain ; Mr. J. Tucker,
Acting Carpenter.

The Mastiff, 6, surveying vessel.—Assistant-Surgeon
J. Macbean has been promoted to be Surgeon, and re •
appointed to the Mastiff'.

The Lightning steam-vessel, Mr. G. H. T. Bower has
been appointed Second Mate, vice Tucker, promoted.

UNIVERSITY INTELLIGENCE:
CAMBRIDGE, DEC. 18.—An arrangement has this
week been made with Mr. Baily, IL A., for a statue of
the late very Hey. James Wood, D.D., formerly Master
of St. John's College, to be placed in the chapel of that
Society. The figure, which will be in a sitting posture,
will be of white marble and larger than life. We under-
stand that the sum of one thousand guineas has been
agreed upon as the price, and that this stun will be raised
by voluntary subscription among the members of the

The Bishop of Ely's Fellowship at St. John's College,
to which, it will be remembered, his Lordship resigned
his right to nominate, leaving it open to public competi•
tion, has been conferred upon A. M. Hopper, of Trinity
College, (B. A. 1839,) now a tutor of Eton. There were
six candidates.

The Rev. Philip Anderson, 8.A., of Corpus Christi
College, Curate of St. Peter's Church, Ashton-under-
Lyne, has been appointed to be a Chaplain to the East
India Company at Bombay.
The Rev. John Hollier Stephenson, M.A., formerly
of Trinity College, has been presented to the Rectory of
Corringham, Essex, void by the resignation of the Rev.
Octavius Brock ; patron the heir of the late Rev. W.
It. Stephenson.
The Rev.. Joseph W. Harden, M.A., formerly of St.
John's College, has been presented to the Vicarage of
Condover, Salop ; patron, E. W. S. Owen, Esq.
The Rev. A. G. Edouart, 8.A.. formerly of St. John's
College, in this University, has been presented to-the
benefice of St. Paul's Church, Blackburn--patron, the
Vicar of Blackburn.

Henry Mildred Birch, Scholar of King's College, has
been elected a Fellow of that Society.

The Right Hon.. Charles Shaw Lefevre, Speaker of
the House of Commons, has recently been on a visit
at Trinity Lodge. The Right Honourable Gentleman
is a member. of Trinity College, having taken his B.A.
degree in 1815.

WOOLLEN TRADE.
(From the Leeds Mercury.)
LEEDS, DEC. 17.—The present has been a flat week in
the Engli•h Wool Market. as is usually the case at this
season of the year. Priees'ma; be quoted the same as
last week.

Business has not at all improved in Leeds Cloth Halls
this week : the quantity of goods sold both on Sa-
turday and Tuesday was exceedingly small, and prices by
no mans remunerative. The same dull state of busi-
ness exists in the warehouses. The recent failures in
London and in Glasgow have considerably damped coati
dente. We scarcely ever knew so little doing by the
merchants, or a more desponding tone entertained by
Al concerned in the Woollen Trade than at the present
period. The most cautious and best-informed are almost
panic struck at the failures which are taking place, not
being able to foresee when the present state of things
will come to an end.

BRADFORD, DEC. 1 6. The demand for pieces to-day
is but sack, arid the amount of business done is very li-
mited; this applh.fs alike to fancy as well as plain fabrics.
Prices remain without change. We have no improve-
ment to Loticc in Yarn since our last report. Spinners
continue to run their machinery short hours, which pre-
vents any accumulation of stocks: in prices no variation.
During the last week a less amount of business has been
effected in Wool, even is coarse and middle combing
sorts, but prices are stationary; the higher qualities are
still neglected. Colonial We'd, both for worsted and
woollen purposes, is very much depressed.