The Sun.
London, England, 1848-07-21 00:00:00

MARKET INTELLIGENCE

(From the London .New Price Current of July 21.)
Suomt.—To-day the inactivity in the market for
every description of duty paid Sugar was further in-
creased, arising from the announcement of Government,
that they intend to allow Sugar to be refined in bond,
either for home consumption or exportation. The
business, in consequence, by private treaty, was
extremely limited for all purposes, and is not worth
enumerating; there was also no public sale. It is diffi-
cult to quote prices with aocuracy; most sorts of colonial
will not fetch within Is 6d per cwt of last Friday's rates.
The measure has been productive of a beneficial effect
upon the market for ForeignanSdugtahre innebaroensdt.
ratesn are
home
-trade easealersefionfe West emstalrnkdeita, are barely 648 hhds and trs.
o-
lIEFINED.—T day there was much heaviness in the
531 for brown, and 54s per cwt for standard lumps.
Bonded Crushed Sugar is more in demand, at 26s to 27s
per cwt.
MAURITIUS.—Although importers are willing to make
a further concession in the value of 6d to is per cwt, yet
on the part of grocers and refiners little desire has been
manifested te operate. The business concluded in all
sorts has been much less than in the former week,
and which is a matter of surprise, when the low rates
that prevail are taken into consideration. Only 1,659
bags and 165 casks were submitted to public sale, still a
part only found purchasers.
FoaxioN.—To-day there was much enquiry after
Foreign Sugar in bond, and stiffer rates were paid. The
private sales for the week are 1,800 chests of yellow
Havannah at 19s; 150 cheAs of fine brown Bahia 18s,
and 2,000 bags of ordinary brown Pernambuco u s, No

chests of white Bahia 41s per cwt. For duty-paid par- •
cels there is very little inquiry.
EAST INDIA.—Of Altioras an increased quantity has
been brought to market, whereas buyers showing
little desire to do business, prices went down 6d
per cwt for all sorts. At public sale 4,161 bags
were disposed of. By private treaty only small parcels
have been taken at about similar rates. In Bengal the
dealings in the private market have been of little mo-
ment, although sellers are willing to accept rather lower
rates. Of 1,919 bags 4 chests offered at auction, a small
part only sold.
COFFEE.—This afternoon there was not more desire
evinced to operate in Ceylon Coffee. At public sale
867 bags and 25 casks were only in part sold, but lull
rates were obtained. Plantation, middling 506 to 565,
low middling 47s to 495, fine tine ord 40s to 455, fine ord
35s to 38s 6d, ordinary 28s to 31s, damaged 25s to 365,
triage 255; Native was taken in at 30s for sound. 26
casks 74 barrels West India only in part sold, Jamaica,
fine fine ordinary 42s to 44s 6d, ordinary 30s 6d, and
ffne fine ordinary Demerara 38s. 12 cases of Yellow
Madras sold at 56s to 58s 6d, and pea berry 61s per cwt.
TEA.—There is no further advance to record in the
value of Congou, but the demand is active, at d previous
rates are well sustained; ord and good ord is held for 8d
to 9d, better 10d to Is 3d, strong black leaf and Pekoe
flavour is 4d to 2s 2d. For Twankay the market is
dull, and prices rule low. In other sorts of Green a good
business has been done, and at full rates. Of 11,500
pkgs Tea offered at public sale, 4,500 were sold.
lircl3.—To-day many parcels of lice were sold by
private treaty, and at stiffer rates. At auction 833 bags
of Penang sold at 8s 6d to 9s for ordinary yellow small
grain. For Sago there was not a brisker demand, and
of 208 boxes at auction, a part only sold, fine white
large pearl at 19s 6d to 20s, and small ditto 19s 6d per
cwt.

bincEs.—To-day the market was better supplied with
Black Pepper, and the quantity offered at public sale
amounted to 2,230 bags, but a part only sold at full
rates ; 7 packages of Nutmegs middling brown 2s 7d to
2i 9d, ordinary 2s sd, mouldy 2s 5d to 2s 6d; 2 cases of
Mace, middling 2s 2d ; 3 csks middling Bencoolen
Cloves, damp Is Id ; 330 bags Pimento were taken in
at 3id to 28d for middling and good middling, and at
30 for low middling coarse. Fur public sale 842 cases
of Cassia Lignea, 600 bgs Pepper, 250 pkgs Jamaica,
Ginger, and 100 bags Pimento are declared.
SPIRITS.--East India has been in brisk request, and
,prices are .firmer, whilst 400 hhds have been sold at is
4id to is 6d per gallon proof. Leeward Island met
with greater attention, and the sales amount to ,300
puns at Is 7d to is 8d proof, at which the market
is firm.. Purchases to a fair extent have been made in
Demerara, and the rates paid are firm, 2s 4d to 3s per
gallon for 26 to 38 per cent overproof. Holders of Ja-
maica show firmness, and upon former terms a good
business has been done, but chiefly for home-trade pur-
. poses. The sales for the week amount to 400 puns,
For Brandy the market is quiet, and there are sellers of
Cognac, best brands, of the vintage of 1846, at 4s 6d to
4s Bd, and 1847 ditto at 3s 5d to 3s 9d. Geneva has
been dealt.in with caution at is 9d to is 10d for export
sort,•and at 2s 6d to 3s for fine, suitable fur home trade'
purposes. For—British•made Spirit prices are without
variation. •

INDIGO.—The quantity of Spanish Indigo offered at
public sale this week has been large, and lamounted to
327 serous, still the whole sold ; low and middling at
tull rates, but good and fine went rather cheaper; Flores
sold at 4s to 4s 2d, Sobres 2s 8d to 3s 4d, Cortes Is 8d
to 2s 6d, and very ordinary Is 3d to is 5d per lb..
COCHINEAL.—This afternoon there was an increased
demand for Cochineal, and 126 bags of Honduras at
public sale mostly sold at very full rates, and went at
3s 9d to 4s "4d for middling to fine silvers, and blacks,
ordinary to middling, 4s 6d to ss.

TALLow.—This afternoon lower rates were again
taken for Tallow. At public sale 121 casks South
American sold at 41s 6d to 42s 9d; 325 ditto New South
Wales 38s to 435; 40 ditto East India 44s 3d to 46s 9d,
and 136 casks Odessa Ox taken in at 439.

On!.-:-Prices have further improved for Palm Oil,
whilst there is a material iEcrease in the demand,
and a falling off in the supply. Purchases to a
large extent have been made, and the rates paid
are 30s 6d to 31s for fine, and 29s to 303 for
fair -to good- quality. Cocoa Nut is little wanted.
In Rapeseed Oil several purchases have been made, still
there is a desire on the part of Crushers to sell, pale at
35s 6d, and brown at 34s 6d per cwt. Prices have not
risen for Olive Oil, notwithstanding small supplies, and an
improving demand. Holders, however, display firmness,
and a good business has been concluded. Lard Oil finds
a more ready sale, at 42s to 45 per cwt, but Ground Nut
Oil is little wanted,.and can be obtained at 37s to 37s 6d.
A slight advance is appal ent in the value of
Linseed Oil, -although a good demand has been
experienced for home trade purposes on the spot ;
whereas deliveries are of a satisfactory nature, but on
the part of exporters, little desire is shown to do business.
Of Fish Oils arrivals are upon an extended scale, and
as buyers are not distioied to enlarge their purchases,
the downward progress of prices continues.

ASSOCIATION IN SUPPORT OF MONARCHICAL
PRINCIPLES.-"The exertions of the association formed.
at Berlin -for. the support of monarchical institutions
against anarchy and -republieanisni, led to va-
rious meetings and demonstrations in the provinces,
at Magdebourg, on the 14th instant. Several hun-
dred persons; consisting .of noblemen, landowners,
and literary men from Saxony, Pomerania, Silesia,
as well as' from- Berlin, tint to explain their
views. Among the principal speakers were Counts
Pfeil and Oriula, Messrs. Witt, D'Arnin), and Orrin,
and Professor ilupfeld. The revolution of March last
Was spoken of in terms of great blame, and an Eichorn
Ministry as desirable. These demonstrations May be
called "reactionary ;" but it c Innot be denied they have
been in a greet measure ocensibtted by the unscrupUlous
audacity of the Radical party.
WEST INDIA PINE-APPLES AND; TURTLES.—The
Trinity Yacht, Captain flounstll, has arrived in 27
days froM the West Indies,
.consigned to Messrs. Keel:
ing and Hunt, bringing an entire cargo, consisting of
the enormous quantity of 45,000 pineaples, a portion of
the same being brotigliC on the deck of the vessel grow-
ing in the soil in' which: they were originally planted,
and the •turtles are in troughs in the same gulf water as
when taken aliVe.

IMPERIAL PARLIAMENT.

HOUSE. OF COMMONS, July 20.

INCUMBERED ESTATES (IRELAND) BILL.
On the motion being put for bringing up the report on
this Bill,
Mr. NAPIER rose to move the insertion of the
amendments of which he had given notice.
The Hon. Gentleman was interrupted by the appear-
ance at the bar of

Mr. BERNAL, who stated that the House of Lords
had agreed to have a conference with respect to the
amendments made by their Lordships in the Destitute
Poor (Ireland) Bill, and had appointed that the same
hould take plae immediately in the Conference
chamber. .

evertil members were then appointed to attend the
conference.

On their return,

Sir G. GREY intimated that the conference on the
part of the Douse had delivered to their Lordships their
reasons for disagreeing with the amendments, which had
been made by their Lordships in the Bill.
Mr. NAPIER continued, and proceeded to contend
that the effect of the clause which he proposed to omit
would be to enable a person who had a judgment of 201.
upon a landowner, to sell the property out and out, with-
out giving notice to any other person who had a claim
upon it. Without the protecting care of the Court of
Chancery such must he the effect, and the fact was that
any man who had a good claim would have recourse to
the first set of clauses, and go through the Court of
Chancery in the regular manner, while the man who had
a bad claim would have recourse to the second set of
clauses, which would free him of the Court of Chancery.
The Hon. and Learned Gentleman, after commenting
upon these clauses in detail, proceeded to say, that under
them a tenant for life, who had a judgment hanging over
the smallest portion of an estate, might sell the whole,
to the prejudice of the rights of those who had future
claims upon it. He did not.require any power from the
Court to enable him to do so, and might thus, by collu-
sion with others, deprive all future claimants of their
rights and interest in the property. He thought this
was a most daogerous kind of legislation for property of
any description, but it was peculiarly reprehensible in
the case of land, a description of property, as it was the
most valuable, required to be surrounded with the best
securities. He did not accuse the parties who
intention
introduced these clauses of any to
injure the rights or interests of future claim-
ants upon estates, they were of too high and honour-
able a character to have done so intentionally; but look-
ing at the whole scope and bearing of the codicil they
had added to the Bill as it came from the Lords, he
con-
sidered that it was most dangerous. It could not, if
carried, be otherwise than injurious to landed property
in Ireland, and looking at the care and legal learning
which had been bestowed on the first part of the Bill in
the other House of Parliament, it could scarcely be ex-
pected that their Lordships would agree to such addi-
tions as those contained in the second set of clauses. He
would ask whether, under these circumstances, it was
wise to provoke a collision on such a question ? He
considered the provisions of many of these clauses to ,
contain a general attack upon property in Ireland. It
was, in his opinion, most unwise to let loose such
powers. There was no object to be gained by it com-
mensurate with, or compensating for, the risk—there
was no saving of expense—there was no protection
against fraud or collusion, against contingent rights.
For
these reasons he protested against that part of
the Bill. He admitted that it was desirable to intro-
duce changes in the management of land in Ire-
land ; but they must go slowy to work. If they did
so, and agreed to co-operate together, they would be
enabled gradually to lay the foundation of a better
system of things. It was not good policy to encou-
' rage unreasonable expectations of immediate benefits to
be derived from specific legislative measures. Such
expectations were, in almost all cases, certain to be dis-
appointed and they ought therefore to have the courage
to do what was right, uninfluenced by popular clamour.
The Hon. and Learned Member concluded by moving
that the Bill be recommitted.
The SOLICITOR-GENERAL, in defending the Bill,
re-stated its objects, and the intent of the provisions ob-
jected to by the Hon. and Learned Member. The state
of Ireland was such a very peculiar one with reference
to landed property, that it would justify measures which
might startle those who were accustomed to the or-
dinary proceedings in our own courts of law and jus-
tice. But he had not acted on that principle in
training these clauses. There was nothing in them,
or in this Bill, which was not based upon analagous
processes in the courts of this country. One thing they
proposed to deal witla was conveyances. In Ireland

the cost of convey criers was so greet, as virtually to
prey( lit all sides of smal t state:. What was the effect?
Why, that the number of lam ed proprietors in all Ire•
land was only 8,000, while half a century ago it was
estimated that there were 200,000 owners of land in
this country.—(Hear, hear.) Then with respect to
sales under the :second set of clauses, the provision
clauses merely amounted to t: is, that sales were to take
place with the consent of all parties interested, without
the previous concurrence of the Court, and the moneys
obtained from the sale should be paid into the- country
fur the benefit of all claimants upon the estate. As to
the objection that a tenant for lite could sill an estate,
and thus deprive others of their rights who had con-
tingent claims, there were provisions w hich precluded him
from doing so, and, besides, when the estates were sold,
all the rights and interests in them were transferred to.
the money in the Court which became its representative.
Besides, a surveyor was to be appointed by the Lord 7
Lieutenant—a Government officer, in fact, whose duty
it would be to certify that the price efferi d was a
fair one to pay for the land; and taking the whole of
the provisions against fraud, he felt satisfied that under
these clauses they would he of the fewest end rarest de-
scription. According to the wish of the lion. and Learned
Gentleman the Member for the University of Dublin
(Mr. 'Napier), the c xpenses which he would wish to tall
on the lands would fall on those whom he desired to pro-
tect, and thus a very serious injury would be inflicted un
those incapable of bearing such, and whom, according to
his amendment, he seemed ds s'r. us to pot( et. Ile con-
sidered that no good could be done to Ireland unless
there was an opportunity given to sell the lard, for thus,
and thus only would a middle class be establisited, and
aid thus will the land be emancipated, which is essen-
tially necessary to the wellbeing of that country. For
instance, he would say, that if land could be sold by
divisions of one hutidri d acres or more, that the in-
terest of the country, and the condition of the people
would be greatly advanced. He hoped that the mea-
sure would be agreed to, because be felt assured
that it would prove advantageous to the interest of
Ireland. He would wish that this measure should be
extended, in a great measure, to this country ; though
he should at the same time say, that such a measure was
not so much required for England, considering her Cir-
cumstances: He hoped that the measure would be agreed
to, because he sincerely believed that it would work well
for the benefit of Ireland.

Mr. SADLIER said that he should support the amend-
ment of the lion. and Learned Gentleman the Member '
tor the University of Dublin (Mr. Napier), for he con-
sidered that this amendment would change the character
of the measure very advantageously, both to the pro-
prietor and to the purchaser of land in Ireland. He
thought it very wrong to confer upon every description
of incumbrancer, as well as upon the owner, the dan-
gerous power of proceeding to the sale of the pro-
perty by private contract, under circumstances to
which 'he had already adverted, and without any
check or control on the part of the Court. Under
the operation of this Act, the negative search for judg-
ments would proceed as heretofore; but in this respect,
as well as in the obtainment cf an account of costs in a
plenary suit, and in others, he 'conceived that the cost
of the working of the pthcess would more than counter•
balance any incidental advantage. There. were 3,000,000
of people in. Ireland occupying holdings under eight
acres, and there were 663,205 farms in the country
under fifteen acres. Something-ought surely to be done
with reference to this matter.- The Noble Lord' at the
head of the Government was constantly vibrating be-
tween the abolition and the maintenance of thosq small
holdings. But he appeared never to have made lup his
mind as to what was the best course to bo pursued. He
believed that though great exertions were being made
to sell land in Ireland, under the most favourable cir-.

cumstances, that purcl;asers Could not be found for small
lots. The Bill ',reposed to repeal the statute of limita-
tions, and in this respect he believed it would inflict
great injury upon infants and others claiming under an
obscure or loosely made will:
Mr. NEWDEG ATE said, that however the Bill
might work in Ireland, he-should be sorry to see it ex-
tended to England; and Hon. Gentlemen would utterly
sacrifice their regard for the rights of property, if they
sanctioned such .a proposition. • The fact of the case
was, that if they commenced upon that principle
.they
would not well know where to stop. He was willing to
assist in meeting the case of Ireland, by facilitating the
enactment of any measure sanctioned by. the experience
of the House of Lords ; but as he thought the Lords
would not sanction the present' one, he felt it his
bounden duty to vote with die non. -Member for
Dublin. , • •

Mr.-FAGAN said he felt eneouraged'to address the
House by what had fallen from 'the last speaker, not-
withstanding the many legal teahnicalities which sur-
rounded the question. He approved much of the mea-
sure; and hoped his Hen. .and Learned Friend, the
Solicitor-General, would persevere .with it until it be
the .law. of the land. .-The-:land -was- the: great
source from which peace; plenty; and employment were
to be expected;- but how could it yield them unless it
were emancipated from the hardens which oppressed it?
The question was, which of the two portions of the Bill
were best adapted to produce this useful state of things?
He wonld-venttireto say, that' the first portion of the
Bill, which cone down from the House of Lords
was so.iacumbered as to be totally inoperative. It would
be better and more respectful to the people of Ireland-to
introduce no measure at all. Let them protect owners
and remainder-men as much as possible, but never loie
sight of the-great object they professed to have in view.
Colonel DUNNE, was of opinion that property in
Ireland ought to be treated in the same manner and on
the same principles as property in England. Ile thought
that any measure that went to a confiscation of property
was,bad. He cansidered that that part of the scheme which
proposed the sale of land in Ireland, in small portions,
was objectioaable, end that no greater evil could he
inflicted on the holders of property than a comeulsory
measure of this kind.—(hear.) The Ileeion able mem-
ber for Carlow had gone t..o_ full)• arid clearly into the
whole ailbject; and had so exposed its injustice, and re-
futed the argumi'nts ativeiced in favour of it by the
Attorney-General, end other Honourable Gentlemen,
that it was unnecessary for him to enter into the details
of the Bill. ITC thought that the -introduction of the
measure into Ireland would prove a fertile source of
litigation in that country. He-Could. net but advert to
one assertion that had been made in connexion with this.
subject—namely, that Ahe disturbances about land in
Ireland was one of-the main causes of the disquiet in.
that country; bat he, was enabled, from knowledge, to
say that that was not the case,- and that the main cause
of disturbances in Ireland was attributable to bad go-
vernment.-(Hear,. hear.)
Mr. W. P. WOOD referred to the grounds upon
which the measure appeared to :have- bun introduced.
Tho object of it, as it struck his rind, Was to give effi-
cient legal rights and remedics,to those who had positive
legal rights. It had been detailed. -to the House that
there were many estates in heland; the 'rental of which
yielded eight or ten thousand 'pounds a year, but upon
the improvement of which even 2001, a year were seldom
laid out.--(Hear, hear.) Now that was one of the
grievances connected with incumbered estates in'lreland.
Another grievance connected with the incumbered estate
was the difficulties which were thrown in the way of the
sale of them by the operation of the Court of Chancery
—which required that a man must sell off the whole of
kis estate in order to get rid of the incumbrances, in-
stead of allowing him to sell as much of. it as he might
think' necessary. .The object of the present Bill was
mainly to obviate the inconvenieuce. With respect to
the allegations about fraud, he thought that the present
measure was well adapted teeguard against that. He con-
sidered that the assertion that the measure would lead
to a state of things such as that in France as connected
with Communism, was unfounded. The grand object of
the Bill is to prevent the property from being wasted in
Chancery, and have the power of selling it in a more
expeditious manner. The Bill will give a summary
mode of. proceeding. The incutnbraneers in Ireland
hid not the interests of the owners of land, and con-
oidering the state of Ireland 'this seemed to him to be
the-most remedial measure for-the-country yet pro-
posed.
Mr. HENLEY said there was no difference of opinion
as to the propriety of doing something to facilitate the
object contemplated in this Bill, but the question was
whether this Bill would be effectual for that purpose, and
whether it would not do more harm than good. kin
very much doubted whether it would facilitate the
sale of estates, but thought they were chalking out
a loneer course. He thought that it would have been
better to have left this difficult and complicated matter
to the Lord Chancellor of Ireland, who would have made
rules and orders much more effectual than the machi-
nery of this Bill, for effecting the Objects contemplated.
He should support the motion of the Hon. and Learned
Gentleman the Member for the University of Dublin.
Mr. BLACKALL said he also agreed with the views
of the Hon. and Learned Gentleman the Member for
Dublin. What they wanted in Ireland was a facility to
sell property, and the power of transfer inure easy.
There were two points which at this time grievously
afflicted Ireland; one, the small proprietors, who were
the worst landlords in that country; and the other the
middlemen, who were, if possible, worse; and yet these
were the two classes they proposed to perpetuate. On
that account, and although approving of many clauses
in the Bill, he should certainly support the motion of
the Hon. and Learned Member for the University of
Dublin, that the Bill be recommitted..
• Mr. VILLIERS supported the, Bill. All admitted
that it was absolutely necessary to give facilities in Ire-
land for the sale of property ; and yet, although the
Bill proposed to do so, the Hon. Member for Warwick-
shire opposed it on the ground that it would commit an
injustice, inasmuch as it disregarded the interests of those
who were remainder men, or held reversionary interests.
Mr. NEWDEGATE observed that what he said was,
that it did not protect in a sufficient degree the rights of

property.
Mr. VILLIERS resumed. The Bill provides suffi-
ciently for all classes ; and for his own part he believed
that every manufacturing district, and almost every town
'in England, were deeply interested in the passing of the
Bill, inasmuch as they were heavily taxed to support
the poor Irish in this country. He was of opinion the
measure before the House was one of the best ever in-
troduced for the benefit of Ireland.—(Cheers.) The
great evil there was that land was entirely neglected,
and that the proprietors of property had no money to cul-
tivate or improve it. Such being the case, and knowing
as they (lid that the land was sufficient to support more
than double its population, if It were properly cultivated,
he could see no reason why such a measure should be
opposed by the evidence of Captain Kennedy, the agent
of Lord Devon. This was fully proved, add when they
talk of emigration, and sending away the people, they
ought rather to enrich themselves byleeping them at
homes' and giving them 'plenty of employment. There
was enough of capital for the purpose, even in Ireland,
for it was notorious that, even during the famine, money
in abundance from that country had been sent over, and
invested in this. From all these facts he was surprised
how any Hon. Gentleman could for a moment hesitate in
supporting the