The Sun.
London, England, 1846-02-16 00:00:00

MORE RESIGNATIONS.

We have reason to believe that Admiral Sir George Cockburn has
resigned his seat at the Board of Admiralty. It would be difficult to
calculate the loss that the Government.must suffer from this retire-
ment, as Sir George has been, for all professional and practical pur-
poses, the mainstay of the Naval Department. Virtually he was
the First Lord of the Admiralty.
It is further understood that Lord Forester has resigned the post
he held in the Royal Household as Captain of the Honourable Corps
of Gentlemen-at-Arms.

Some short time ago we stated that the Earl Delawarr had ten-
dered his resignation of the high office of Lord Chamberlain of her
Majesty's Household, but that, on the urgent request of an illustrious
personage, he had consented to retain the appointment. We are
now assured, however, that his Lordship has actually resigned.
Thus has the persistance of Sir Robert Peel, in he attempt to drag

his supporters through the dirt, deprived the country of one of its
ablest executive officers, and the Court of two noblemen whose cha-
racter and bearing added dignity to the offices with the duties of
which, in better days, they had been entrusted by their Sovereign.
—Post.

It is currently rumoured that Sir George Cockburn and Rear-
Admiral Bowles have resigned their seats at the Board of Admiralty.
The appointment of Captain Bons is the reason assigned for these
resignations.—Chronicle.

SOUTH NOTTINGHAM ELECTION

NOTTINGHAM, FIIIDAT.—Both the candidates are canvassing with
much assiduity among the townspeople of this place and the adjacent
farmers : both express themselves most sanguine of the result. Mr.
T. B. T. Hildyard is only twenty-five years of age, with a moderate
paternal estate, and but little known in connexion with local
politics. Lord Lincoln's address is acknowledged on all hands to
have been most able.

There are six polling stations for the election of Members to re-
present the southern division of the county, viz., 15ewark, South-
well, Bingham, Lowdham, bast Leake, and Sutton•upon-Trent.
The number of voters for this division ou the register of the present
year is about 3,400.

As to Lord Lincoln's present success, we find that out of one
hundred county voters in Nottingham and Sneinton who were can-
vassed his Lordship only met with four refusals, the other ninety-
six promising to vote for him.
Wednesday, the 25th instant, will, however, show which party
will come off victorious.

MONEY MARKET and CITY NEWS.
CITY, FRIDAY EVENING.

TIMES.—It was a prevalent notion here for a day or two after
the amount of the railway deposits was disclosed, that matters would
soon revert into the ordinary channel, and the subject lose all its
importance; but this does not appear to be the case. They become,
on the contrary, a subject of constant and increasing uneasiness. At
the Stock Exchange prices of all kinds seem almost wholly under
the influence of the broker for the Court of Chancery ; the bankers
and discount-brokers avoid all transactions for distant dates, the
most useful and necessary of all for the trading interest, because
they are uncertain what assistance they may receive front the
Bank of England ; and the Bank itself is, in its turn,
kept in a similar degree of suspense, because they are en-
titled to no notice whatever when the railroad money is
wanted for investment, and hold these large funds in
fact at absolute call. It is not easy to perceive by what means this
great weight is to be removed, for being subject to so many species
of control, there is no one power which can act upon it. Dependence
is now chiefly placed upon the Committees of Parliament, and espe-
cially upon that Committee to which it is referred to place the lines
in groups, where any decision upon one must dispose of several
others, and thus set free a large portion of the capital locked up. At
present all managers of companies are placed under the greatest diffi-
culty how to act with the funds they hold in trust. Luckily the
Bank is at present affording assistance most liberally, and the opera-
tions there take a much wider range than formerly, by assimilating
the facilities to those of the private bankers, and dispensing with
many of the old forms ; but still there are large classes not in the
position, as already intimated, to obtain this relief, and who are com-
pelled to pay far more dearly in the open market than they would do
If these funds were properly distributed.
It has been remarked with respect to the influence ore the funds of
the purchases by the Accountant-General, that it was hardly fair to
impute to the members of the Stock Exchange any preconcert to raise
or depress prices as the broker of the Court was supposed to be a
buyer or a seller. The real Influence is that of a scarcity of means.
such as existed some years back, for effecting large operations. As
there is very little floating stock, so the jobbers keep less money at
disposal to carry on their bargains with, and when a sudden demand
arises either way there is no power to meet it. A sudden demand
for stock, for example, to supply the Chancry brisker, puts the jobbers
upon the inquiry where it is to be found ; and in this way, and not
by any concert among them, the market is influenced. During the
great loan-transactions of the war, and for many years afterwards,
the case was different, but the Stock Exchange has since undergone
a great revolution. The greater portion by far of Government stock
is locked up in trusts and endowments, or held by great public com-
panies who never think of moving it.
The present state of things has thrown a great increase of power
into the hands of the Bank of England, which probably never stood
in so high a position, or possessed so great relative importance
towards the rest of the banking and trading community.
Money has been in much demand during the day, independently
of the Stock-Exchange.

The arrival of tho India Mail has proved a most seasonable relief
to the public mind, as the attempts to account for so singular and
unusual a delay have led to the circulation fur some days past of the
most disastrous rumours in the City. All these are now happily
dispelled, but the causes of that detention, which are now made
known, are commented upon in terms of great indignation. That
any public officer should take upon himself at so critical a period
to detain Government dispatches at Alexandria, of the importance
of which he could not but bo aware, for six or seven days, is
deemed at present perfectly unaccountable. The whole depends
upon whether the Consul had any intimation that it was
designed to send a second steam-vessel from Bombay with the results
of the late battle. Still the delay, even under that supposition, far
exceeded what was requisite and proper. For the letters through
France the delay is a serious one, but far more so for those which are
to come by Malta and Southampton, which can now hardly be ex-
pected to reach England before the middle of next week, and that
portion of the bi-monthly mail which is to come by the Marseilles
route will follow close upon it. One false step In such a machinery as
that of the India snail has a tendency to throw all the rest into con-
fusion ; and this is what the merchants would desire to see impressed
upon all public officers who manage it in its transit. As regards the
Consul at Alexandria, or whoever gave the order for the present de-
tention, it is but right before condemnation that his explanation
rhould be heard. The commanders of the British steam-packets have
no voice in such a proceeding, as they are under the direction of an
Ad/lib-Ally agent, who is placed on board for that purpose.