The Sun.
London, England, 1846-04-22 00:00:00

MONEY and COMIERCIAL NEWS.
(From The Sun of
,vf-rpoH:

,p.letl of C.ttorl

.I}.)

-
bates, 1,500 being on speculation. 1 lie market was not
lively though firm.
There are not any late Colonial arrivals in the City to-day.
As the subject of the liability of Railway Committees and
allottees is at present, as it has been for some time past of
very general interest, we extract the following remarks from
a pamphlet written by Mr. D. W. Harvey, giving sound infor-
mation as to the course to lss taken by parties referred to :
" First—l would suggest that a prescribed number of
shareholders should have the power to insist upon a meet-
ing, to consider the propriety of dissolving the company, and
to guard against the ir.liuence of exaggerated misrepresen-
tations, and of sinister interests, which too frequently sway
popular assemblies, and also the overwhelming power
of occasional votes made by the transfer or loan of
scrip. I would suggest that a ballot should be taken
the following day, no discussion being allowed, nor
any vote received whose possession of scrip or
share has not existed for at least one month previously ; or it
might better accomplish the object of all parties, if the result
of the ballot should be the prosecution of the measure, that
the dissentients should be entitled forthwith to the retu. n of
their deposits, subject to a reasonable rebate for expenses,
and until the same was paid no further proceedings to be
allowed.
" Second—That, to provide against the arbitrary selection
which is now made of persons on committees to be sued for
debts of the company, I would recommend that the defendant
should be enabled to plead the mums of copartners liable
with himself against whom he should be at liberty to en-
frrce the judgment obtained against him—that is to say, for
tt ratoshle contribution.
"As the law now stands, an individual who has been se-
lected (and I know very many such cases) as the defendant
has virtually no remedy, either at law or in equity, against
his copartners ; for, if tie plead in abatement, and
give the names of his copartners who ought to be joined
in the action against himself, and he happens to give ono
name too many, or one too few—his plea fails, and judgment
passes against him for the full amount. Nor is his remedy in
equity less ambiguous; for, though he may not fail therefrom
the want or superfluity of parties, yet, as in all probabilty it
is fortune to be allied to ►ome tio e or six scores of provi-
sional committee-men, the strong probability is that long
before his cause shall be ripe for hearing, either his suit will
have abated more than once by the death of one or more of
the defendants, or, to render the matter more conclusive, he
will have retired to that place where lawyers cease to trouble,
and locomotion is at rest.
"And when we are legislating upon this matter, the con-
dition of creditors ought not to be overlooked. At the
present time, what from the fear of costs, the dread of defeat
arising from the difficulty of proof, or the worthlessness of the
debtor, creditors are now driven to accept of comprramises
unjustified by the nature of their demands, 01 what is due to
the character of the fair trader. As a remedy for this. II
would suggest that the creditors should have no remedy but
against registered parties, whether they be promoters, pro-
jectors, solicitors, or committee-men; and that such registra-
tion should be signed by the respective parties in the presence
of one or more official witnesses, such registration alone to be
conclusive evidence of liability."
There has not been much business transacted in the Funds
this morning. Consols for the Account have remained steady
at 95%, but for Money the reduced price of 951 has been
submitted to, since which the market has rallied to 953/4«
The premium upon Exchequer-bills remains very heavy at
225. India Stock has fallen from 260 to 259, and Bank
Stock from 2051/2 to 204%. Annuities for a term of years
have increased in value. The Three-and-a-Quarter per
Cents, are pretty firm this morning.
, A more firm market has ruled for several of the Foreign
Bonds to-day. The Portuguese Four per Cents. have ad-
, vant.cl to 573/ ; Spanish Consols are at 254 ; the Three
per Cents, at 363/4 ; Belgian at 801/2 ; Dutch Two and-a-
Half per Cents. at a rise from 583/4 to 59% ; the Four per
Cents. at 92%, and Mexican at 31%.
There is but little animation in the market for Railway
Shares. The latest prices are annexed.
BRITISII FUNDS.

ONE CLOSING
O'CLOCK. PRICES?.
Bank Stock .. .. .. .. .. .. .. 2053/ 20431 2044
Three per Cent. Reduced Annuities .. .. 94% % 94%
Three per Cent. Consols Annuities .. .. 95% %X 95%
New Three-and-a-Quarter per Cent. Anns. 9631 % 96%
Long Annuities, Expire lan. 5, Ib6o .. 10 116 3-16 10 3-16
Ditto, 30 years, Oct. 10, 1849 .. 9 5-16 10 10
Ditto, 30 years, Jan. 5, 1860 .. .. 10 5-16 10 5-16
India Stock .. .. . .. .. .. .. 260 259 259
Consols for Account • • • . .. .. .. 95% 95%
Exchequer Bills. illici. I%d.
I,oool .. .... 25 22 pm. 22

ONE CLOSING
FOREION FUNDS. O'CLOCK. PRICES.
Brazilian Bonds, 5 per Cent .. 88% 82
Ditto, for the Account .. .• .• 82 82
Ditto, Small .. • • • . • • • • _ 81%
Mexican Bonds, 1837, 5 per Cent .. 313 31%
Portuguese Four per Cents .. 57% 57%
Ditto, for the Account 37% 57%
Russian Bonds 110% 110
Spanish Bonds, 5 per Cent
Ditto, for the Account • • .. 25% 25%
Ditto, Passive Bonds .. 5% 3%
Ditto, Three per Cent .. 36% 36%
Ditto, for the Account 36%
Dividends on the above payable in London.
Dutch Two-and-a-Half per Cent .. 58% 59% 59%
Ditto, lor the Account • • • • .. 59% 59%
Ditto, 4 per Cent. Certificates .. 92% % 92%
BUSINESS
CLOSING
PRICES OF PAID. DONE AT
PRICES.
RAILWAY SHARES. ONE O'CLOCK.
Aberdeen .. • • • • • •
Birmingham and Oxford Junction 2 .... ..........
Bristol and Exeter .. 75 $3 . 82
Ditto, New •• • • 5 9%• •
••••• • • • 9%
Buckinghamshire 428. .... dis % dis
Caledonian .. 10 .... 5% % • 5%
Chester and Holyhead 22% .... 20% . .- • • 20%
Cork and Waterford .. 1 % % ..........
34
Direct Manchester (Rastrick's) .. 5% .... 3% .
Eastern Counties .. 141. 165..... 22% % • • 22g
Do. Perpet., 5 per Cent. No. 1. 6/. 13s. 4d.
Ditto, ditto, .. .. No. 2. 61. 13s. 4d. % p.... p
Ditto, York Extension 10s. 1%% • • 1%
Ely and Huntingdon, .... 454 .......... 4%
Essex and Suffolk .. 1% .. . % .......... 34
Exeter, Yeovil, and Dorchester .. 2 .. . . 1 ... . . ..... 1
Goole. Doncast., and .ihertleld,&c. 425..... dis... • • % 11.11%.
Great Eastern and Western .. ..........
Great Western 85
Ditto, Half Shares .. 8
.. 50 .... 85 86 .. . • %
Ditto, Quarter Shares•
•.. 5 17
Ditto, Fifths .. . • .. 20 .... 33% 34% 34
Hull and Selby .. 80 ...... Ditto, Halt hares .. •. 7 .... 24% 24 ......
Liverpool and Leeds Direct .. 2% .. .• 2% ••••• • • • • • 2%
24
Liverp., Manch., & Newc. Juliet. .... 1% • • ••.. • .
London an I Birmingham . iOO .... 222 •• • • 222
London and Brighton .. .. 50 .... 63% ..... 63
London and Croydon .. .. 13/. 15s. 9d. 21% .. •• • ..... 21%
London, Hounslow, & Western .. 2
London and South-Western.. 41/. 6s. 10d. 77 76% • • .... 76%
London and York .. .... 1%34.. l%
Ditto, Half Shares .. . 1% •••••••• " I
London, Salisbury, and Yeovil • . .... 134 % ..
Lynn and Ely .. .. 10 .... 6
Manchester and Leeds .. .. 82 . ......
Ditto, Fifths ..
Ditto, Sixteenths 6%....
Ditto Extension .. 425..... 136 I,
Manchester and Birmingham .. 40 . .
Ditto, Quarter Shares (A) • • 4 12 ..........
Ditto, Quarter Shares (B) • • 2 .... 10 .. lO
Ditto, Quarter Shares (C) .. 1 .... 8%.. 8
Manchester, Buxton, & Matlock 425... par % p.....• % p
Manchester and Southampton •• 2 1% • ........ 1%
Mid!a-td ..100 . 145
Ditto, Birmingham and Derby 103 ....116 .......... 117
Newcastle and Darlington Junet. 25 445(
Newcastle and Berwick .. 10 •• .. 17% % d.... 17 'Axis
Newark, Sheffield, and Boston .. 2%. •• • 1%
North British ..
.. 20 ....
Ditto,Ditto CHaariltisthaErextiter:i... 61% 815/.14,
1%
North Kent and Direct Dover • • 2% .. • • 1% ... 1
North Staffordshire .. • • • 425. • . 2 ••• • .•
North Wales .. • • • • 3%.... ••• •.• • • 134 -
oxld.,Worcester, Wolverhmptn. 12% 734 %. :
..
..
..
.. •
Preston and Wyre .. • • •• 25 34% 33% ,
Richmond .. .. • • • • .. 10 .. 16
Scottish Central . lO .... 13%
Ditto New •. 2% :
....
..
..
3 to
se,hcorottglirmeitliilanod.
16.14 die• 1% 6EIIB.
South
Ditto. ShrewsburyEasternaieNwee,sadn(o.iads.l.l
tr
)d ,13f;o0..;
.r:
31
632
41%
31
671
%3,
31 •
761
%4%
South
.NO. 4.
52% :
it% 20,4%
.
Vale of Neath
Welsh Midland
West Riding Union• •
42s.•West Cornwall 2
X• .. 1% p.
• • • % • • • • • • •
York and Carlisle
.: •:••2% • • • • 1% ••••• • • • • 1%
York and North Midland .. 30 •• • •• • •
Ditto, Scarborough Branch .. 25 .... 47 47
Do. E. and W. Riding Exton... 1

FOREIGN RAILWAYS.
Boulogne and Amiens .. .. 12 ....
Bord., Toni., Sc Cette (Mackenzie) 2
........
Ditto, ditto (Espelete) • • 2 •• .. 2%
Dutch Rhenish . • • • • • • 5 •• • • 5% 6
East Indian .. • • • • • ••k s•
Lyons and Avignon .. • • .• 2 2
Luxembourg
Namur and Liege .. • • • • 4 • . 1% .
Paris and Strasboltrg Constituted 5
Rouen and re • • • • • • 20 ....
Tours and Nantes Constituted 5 6}4,
West Flanders ........4
JOINT-STOCK BANKS.

11X
9X
1% p

1%
5%
293 i
6Kit

Anstrclasia • • ••
London Joint-Stock
Union of Australia

R 5%
14