The Sun.
London, England, 1846-01-20 00:00:00

is to the extract we wish to call marked attention

" The managers would now prominently place
before the members the liberal act of the Treasurer
of the Benevolent Fund, JOHN ABEL SMITH, Esq., M.P.,
who, and his partners of the house of MAGNIAC, JAR..
nrsis, and Co., have insured with the Association the
life of each clerk in their house for sums varying in
amount from 1,000/. to 250/., and have presented each
gentleman with his policy as a testimony of their
kindly feelings towards their employes, and their con-
tinued approbation of, and confidence in, the stability
of the Association. This act of liberality does not
merely apply to the first premium, but extends to
the future annual payments by the eminent firm
in question, thus realising to their clerks some pro-
vision in case of death to their families at the cost
of the house. Besides, this kind consideration, which
is hoped may be generally adopted, the amount of
assurance increasing, according to priority of posi-
tion, length of service, &c., cannot fail wherever it
may be followed, through feelings of gratitude as
well as self-interest, to cement clerks more closely to
employers and their interests."
We need scarcely add that we most cheerfully
record the fact, and heartily respond to the remarks
of the managers of this excellent Association.

Madrid journals of the 12th have been received.
The discussion on the Address was resumed, and re-
ferred chiefly to the negotiations with the Court of
Rome, but no new facts were stated, nor does it ap-
pear that much progress has been made in settling
the points at issue.
The Funds were more firm on the 12th; the
Three per Cents. closed at: 34 at GO days ; the Five
per Cents. at 231 60 days ; and the Coupons at 24f
for cash.

The Paris papers of Sunday contain no intelligence
of much interest. On Saturday the Bill to grant
93,100,000 f. for the service of the navy was discussed
in a Committee of the Chamber of Deputies. Admiral
MACKAU briefly stated the proposed changes, and
referred Members for more minute information to the
document laid before the Chamber, from which it
appears that in seven years it is proposed to have a
fleet of 270 sailing vessels and 100 war steamers afloat.
The Committee were favourable to the plans of the
Minister, and some remarks made by one or two
Members, blaming him for not commencing the work
sooner, met with no support from the majority. On
Saturday evening a deputation of the Peers, with the
Chancellor, Count PASQUIER, at their head, waited on
o tof the
which C h a
hi
emr iAnj
Br es
vp lry
ro toa
dt he e Speech
the KING at the Tuileries, and presented the Address
thes
f o l following from
t ahne
sTwherro:ni ,
" I am happy to see that every new year adds fresh motives
of congratulation to those which you have so long offered

me, at the opening of your sessions, respecting the increase
of public prosperity. We are indebted for that fortunate re-
sult, of which everything presages the progressive continua-
tion, to the co-operation you have so constantly and so effica-
ciously afforded my Government, and to the accord existing
between all the powers of the State. I again find with a
lively satisfaction in your Address the expression of the sen-
timents of the Chamber of Peers for my family and for me.
In returning to them our grateful acknowledgments, I feel
pleasure in repeating the assurance that we will ever respond
to them by our entire devotedness to France."
A grand review took place on Saturday, in the
Champ de Mars, in honour of the Ambassador from
Morocco. His Excellency and suite were mounted
on Arabian horses, furnished from the royal stables,
and several Moorish ladies were on the balcony of the
Military Schuol to witness the manoeuvres. About
45,000 troops were reviewed under the Command
of the Duke DE NEMOURS, who was accompanied by
the Prince DB JOINVILLE, the Duke D'AUMALE, the
Duke of WIRTEMBERG, and the Prince of SALERNO.

Some of the journals publish two petitions from
Havre, one to the Chamber of Deputies, and the other
to the Minister of Public Works, praying that after
the warning furnished by the fall of the Barentin via-
duct, the other viaducts, and tunnels, and bridges on
the Rouen and Havre Railroad be subjected to a
" solemn examination," the results of which shall be
published. They have been anticipated, however, by
the Minister; for it appears that he has just entrusted
M. FRISSARD, divisional inspector of the Ponts-et-
Chausseks, and attached to the service of the first in-
spection of the Havre line railways, with the im-
portant mission of ascertaining the circumstances
that have caused the fall of the Barentin viaduct.
M. FRIssARD will, moreover, have to visit the works
finished or proceeding on the Rouen and Havre
Railway.
It is now arranged that the expedition to Mada-
gascar will sail from Brest about the 15th of
February. _ _

The French Funds were more firm on Sunday.
The Three per Cents. had advanced 10c. and closed
At M. Nothing was done in railway shares.
BUSINESS DONE IN FOREIGN RAILWAYS AT T/IL
LONDON STOCK EXCPIANGE, JAN. 19.

Angle-Belgiau —
Barbadoes

Boulogne and Amiens.. 113 A
Bordeaux &Mediterran
Bordeaux an4lTonlouse
Do. & Cstts (.speleta)
Do. (Mackenzie's) ..
Callao, Lima, ant Pa-
cifla Coast
Central of Spain .......

Coyloon . -

Demerara
Dendre Valley ......
Ditch Rhenish ...... 8
Dieppe & Paris Jima.
Dijon an Ma'house
East Indian ........
Fampoux & Hazebrouk
Grt Northern of France
Constitute) 144
Great Indian Peninsular 3/4
Great Paris and Lyons. 2%
Great Wester. Bengal %
Great Western Canada 31,4
Italian and Austrian
Jamaica S. Mid. J auction 4%
Do. North Midland —
Do. Extension
Jersey
Loavain and Jemappe —
Lyons a,ad Avignon —
Laxemlioarg

Madrid aid 'Yale*cia...
Mauritius

Namir and Liege
North Jamaica
Orleans and Yierzon
Orleans and Bordeaux 11
Over Yasel .......
Paris & Lye's (Laflitte) 2%
Ditto (Ganaeroa's). 3%
Ditto (Caloa's).... » 2%
(Sud Est) 2l/

Ditto

Paris and Or 48:;
Paris and Rouen .
Paris and Strasburg
(Ganneron's)
Do. (Cempe de L'Est)
Do. (4.ymard's) —
Paris and St. Quentin —
Rouen and Havre_
Royal Nortk of Spain.
Sambre and Meuse
Strasburg and Bale
Tournay,Jurbise, Lan-
den, and Ilasselt
Tours and Nantes
(Mackenzie's)
Do. (Lefebvre's)
Do. (O'Neill's)
Trinidad
Verona and Ancona —
West Flanders

PRIVY CouNctL.—The Queen will hold a Privy
Council to-morrow afternoon at Buckingham Palace,
at which her Majesty's speech, on opening the session
of Parliament, will be settled. Her Majesty, Prince
Albert, and the Court, will come to town to-morrow
from Windsor Castle. It is expected that the Duke
of Buccleuch will be appointed Lord President of the
Council, and Lord Haddington Lord Privy Seal, at
the Privy Council.

We state, on good authority, that Lord Delawarr,
Lord Chamberlain, has resigned, but his resignation
is kept back for the convenience of the Government
till after the formal announcement of the Ministerial
plan. The same is rumoured of the Marquis of Exeter,
Groom of the Stole to Prince Albert. We believe
that three or four more resignations will take place,
on Tuesday next, among subordinate members of the
Government. It is understood that Lord Arthur
Lennox, among others, retains his office only till after
Sir Robert Peel's statement.

The working men and trades' associations of the
metropolis assemble to-morrow evening at the Crown
and Anchor, in honour of Mr. Thomas Duncombe,
who will be present. " Honour to the People's
Champion" is the appropriate heading of the tickets
whi•h have been issued.

there MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO TAKER.
The Cotton market was quiet yesterday at Liverpool, but
alteration in nrices. Sharp. .vets (lull
some remarks iit a i.ettbr or alessrs. Railton and Son, of
Manchester, upon the Share market, afford a little light in
the matter. They state—
" After the experience in railway affairs afforded by the
last session of Parliament, it was quite evident that the large
capital employed in that department of our national industry
ought to have been protected by some legislative appoint-
ment that would have watched over the interests of that por-
tion of the public, who, on sound principles, devoted attention
to its enlargement, against every interference of a contrary
tendency ; and that no new scheme should have been permit-
ted to solicit general support which had not been previously
so sanctioned.
" In February last, and at various times since, we pointed
out the mischief that must inevitably ensue in the share
business, by the great influx of persons becoming share spe-
culating brokers, having little or no money, and dealing
with each other through half-monthly reckonings to a most
astounding extent. The break-down, however, overtook
them, and spread ruin, not only amongst many of themselves,
but also among many persons of capital ; teach-
ing to all reflecting men, that it is a fallacy
ever to depart from the closest cash settlements in
their transactions through brokers. All dealings in shares
should be like money given for a bank-note. This rule ap-
plies particularly to Manchester, where there is no scarcity
of surplus capital for any object to which it can be profitably
and legitimately applied. If our view of the case be correct,
it is evidently the bounden duty of every discreet person to
support cash settlements to the utmost of his power, in order
that the wild flights of corrupt and random enterprise may,
be kept in such a position as not to endanger solid and bona
fide interests.
At a meeting of the St. Katherine Dock Proprietors held
just now, a dividend of the usual amount was declared out
of the profits. An important commercial fact was noticed—
that the deliveries of goods from the warehouse have, since
the new tariff came into operation, increased greatly.
The accounts by the West India steamer are expected to
be delivered to-day.
The meeting of Parliament is likely to throw everything
into the shade this week, and Thursday will be quite a dies
non in the City, either as respects public sales or general
business.
The difficulties into which a mercantile house has been
thrown have attracted much attention here.
The Stock market opens better to-day, and the rally is i%
to % per cent. Consols have been marked 93% to 94%, for
present transfer, and 94% to 3/4 for time. The premium on
Exchequer-bills has been steady at 17. Bank Stock has
ruled at 203% to 204%. The New Three-and• a• Quarter per
Cents. have been 96% to 7, and the Three per Cents. 941/2
to 94%.
The Foreign Investments have been rather gayer. Spanish
Five per Cents. have been 28 to %, and the Three per
Cents. 38% to 1,4. Portuguese Three per Cents. have been
59%. Brazilian Bonds have been worth 83. French Three
per Cents. have been at 83 francs, with the exchange, at
25 70.
Shares are rather firmer.
!mum FUNDS THIS DAT iier ONE O'CLOCK.
(From the Official List.)
Bank Stock 203% 204%
3 per Cent. Reduced Annuities 94% %
3 per Cent. Consols Anus 93% 94%
New 314 per Cent. Annuities
Long Annuities Expire sth Jan. 1860— 10 7-16 %
Do. 30 Years, Expire Oct. 10, 1859 lOl4
Do. 30 Years, Expire Jan. 5, 1860.. 10%
India Bonds 1,0001 ......... 28
South Sea Stock 1063/4
Consols for Account
Exchequer Bills. 3/4d. I%cl.
1,0001.
5001. ....... ..... 17 pm.
Ditto Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent B3
Ditto New Bonds, 1829 and 1839 80%
Ditto, New, 1843 77
Buenos Ayres Bonds, 6 per Cent 4O
Chilian Bonds, 6 per Cent . 98%
Do. Deferred 5l
Peruvian Bonds, fi per Cent 404 40
Portuguese Bonds, 5 per Cent
Ditto for the Account. 59%
Spanish Bonds, 5 per Cent, 1840 28%
Ditto for the Account
Ditto Passive Bonds 63/4 %
E xenon
Dividends
French D itto
Renter,3o
nptehreC ae
above
py. .ee.
r.
payable..c. .e.
Cent
83f
Dutch 2% per Cents
Ditto 4 Der Cent. Certificates .. 94% 95
BUSINESS DONE IN RAILWAY SHARES AT ONE
O'CLOCK.
RAILWAYS. PAID.
Aberdeen
Aberdeen, Banff; and Elgin 2l/-
to
Armagh, Coleraine, Portrush 1% ......
Aylesbury and' hame ...... 1%..••••
5 ...... 5 a/8- PEE
SHARE
to
Belfast Br-County Down
Bideford and Tavistock 1%.•
Birmingham and Gloucester 100 l3O
Ditto New Shares
Birmingham and Oxford
Junction
Birmingham and Leicester
Direct - % die-. to
Boston, Stamford, and Birm 22s . •
Bridgewater and Minehead... 425.
Bristol and Exeter
Ditto New
Bristol and Gloucester 3O ...... .. to
ge . ........................... London.3Bs
Bristol and Liverpool Junct.
Buckinghamshire... 425...••:• P ••• to
Caledonian 10..... 1414%-• to
Ditto New 2%.,.... to
Ditto Extension
Cambri an Grand Junction ... 425.
Cambridge and Lincoln 11/ ••••• • —•-• • to
Ditto, New 1%......

2 ...... 3 . .... to