The Sun.
London, England, 1870-12-22 00:00:00

TO THE EDITOR OF THE SUN.

you allOw me to ask through your columns
why the affairs of this Club are not settled ?
It stems to me that the honour of the Conservative
Party iH involved, and that it would be wise to accelerate
the moiements of the unknown obstructives. _

I' resigned the hon. secretaryship on the 18th of February.
Captain Bertrand Payne, my successor, resigned early in
March ; and Mr. J. Murray Dale, who succeeded him,
retired in June ; since which latter date nothing has
been heard of the Club !

On inquiry at the banker's, I learn that there are'
assets amounting to more than.£loo, enough, I imagine,
to pay every creditor 20s. in the pound, especially when
it is born in mind that on retiring Captain Payne very
handsomely gave up the debt to himself for printing, &c.,
amounting to more than £3O. No committee at present
exists, I believe—only an indefinite number of creditors.
The £lOO referred to stands in the names of two irrespon-
sible persons, who ought at once, after eight months' un-
necessary delay, •to. wind up the affair. Indeed, if they
do not, I hear of threatened litigation. Whatever deficit
there may be is amply provided for in a minute of March
19th.—I am, sir, yours obediently,
J. R. TOWNSHEND MAYER.
Richmond, S.W., December 21st.

THE MONEY MARKET.

CITY, Two o'OLooK.

In the Foreign Stocks prices are now :—French Scrip,
dis. to prem. ; Italian of 1861, 551. to 551 ; Russian of
1870, 83 to 85 ; Spanish Three per Cents., 31± to 31/ ;
and Turkish Five per Cents., 44±. to 441.
Business on the Stock Exchange is exceedingly quiet,
and no': likely to improve until after the holidays. Italian
are 3.16 tower. Consols are 911 to 91-i for money and
account. Exchequer Bills, 10s. to 14s. prem.
The Corn Exchange will be shut on Monday, Fthe 26th.
The directors of the National Provincial Bank of Eng-
land have again voted a bonus of 10 per cent. to all their
officers and clerks on their salaries for the present year.l
New York advices mention the stoppage of Messrs.
Phillip Wadsworth, and Co., clothiers, at Chicago, for
about £lOO,OOO ; also of Messrs. Ikirchof, Brothers, and
Co., distillers.
The Manchester Courier states :—" The failure of
Messrs. Higson, West, and Co., merchants, of Manches-
ter, Chas been announced. The liabilities are variously
stated, the gross amount, including Fthose oni bills and in
'all other ways, being estimated at £230,000. The unse-
cured, however, are about £BO,OOO, of which from £25,000
to £35,000 is due to Manchester houses. The firm was
originally in the South American trade, but has more
lately been exporting to India and China. It is feared
that the liquidation will not be favourable."
It is understood that, in consequence of the recent rail-
way accidents, the London and North-Western line have
concluded arrangements, to !adopt Clark's continuous
breaks.

At the annual meeting of the National Bank of Scot-

land, at Edinburgh, the profits of the last official year
were stated at £140,817. The ordinary dividend of 13
per cent. was declared.
The directors of the National Steamship Company
(Limited) (Liverpool) have declared a dividend for the
half-year ending 31st inst., at the rate of 10 per cent. per
annum.

Advices from Buenos Ayres are to the 14th ult., at
which date the various markets were unaltered, with the
exception that money had become less scarce, and that
the quotation of the Internal Argentine Bonds stood at
66 after having touched 67. On the 21st of November.the
Minister of the Interior was to turn the first sod of the'
new railway from Villa Nueva to Rio Cuarto, which is
to be carried out at the cost of the Government by Mr.
Jackson, an English contractor. A cargo of 200 tons of
Patagonian guano had just been brought into port, and
sanguine expectations had been expressed as to the results
of this new branch of trade for the Republic, but it had
been pointed out that an experiment from the same
quarter twenty years ago had resulted in failure owing
to the difficulties of the coast and to the fact of the region
being liable to heavy rains. The present cargo is destined
for England. The rebellion of Lopez Jordan in the pro-
vince of Entre Rios, although defeated, had not yet ter-
minated in the capture of that chief, and was therefore
still a cause of considerable expense. In the Republic of
the Uruguay no settlement had yet been effected, the
Government retaining possession of the city of Monte
Video, while their opponents continued to hold the sur•
rounding country.