The Sun.
London, England, 1846-10-21 00:00:00

great credit on those who drew it up, but it would have
been more satisfactory if a financial statement had been
attached to it. Having passed many years of his
life in Spain, he considered that there was no
country in which railways would be more prosperous
if well and economically constructed. He had known
many instances in which the price of commodities bad
been increased from 50 to 60 per cent. on account of the
enormous expense of conveying them over short distances.
He knew no country the resources of which were more
capable of development than Spain, and therefore he had
a good opinion of the undertaking. But if there was a
large amount of discontent amongst the shareholders, he
earnestly recommended the directors to adopt some
means of allowing them to withdraw.
A SHAREHOLDER said the shares were selling at one•
half their original cost, and therefore he saw no reason
d-.y those who chose to withdraw should have so much
advantage ; he was anxious to have the undertaking
proceeded with.
Mr. BIGG said the name of the Chairman was a
guarantee that the undertaking was one which stood
great chance of success; but since the last meeting, the
political and commercial phase of Spain, had undergone
great changes; its condition was of a precarious cha-
racter; it was not as if they were about to embark their
capital in a country with which Great Britain was
likely to remain in amity. The Spaniards had not yet
paid on the 27,000 shares, although the Chairman had
said, four months ago, that it would be paid before this.
He was neither sufficiently chivalric or Quixotic
to desire to embark his capital in a company
when their copartners in the undertaking held back with
so much tenacity. With respect to political documents,
it was said that brevity was the soul of wit ; but in
their case they might say with truth, that
the report was so brief as to be little better
than the skeleton of a report. This was
the more strange, as the chairman had been
to Madrid, where he had been feted, and feted
others in return! He had a high opinion of the direc-
tors, but for the reasons he should mention, he was
desirous that the Company should be dissolved and the
residue paid to the shareholders.—(Cheers.) Of course
the 30,0001. would be forfeited if they did not go on.
The CHAIRMAN reminded the Hon. Proprietor of the
words of the motion, " that on the payment of the
deposits on 27,000 shares at par in Spain, ex the direc-
tors, &c."
Mr. RICHARDSON moved that the company be dis-
solved, which was seconded.
Mr. MASTERMAN wished to know if there was any-
..

REVIEW OF THE CORN TRADE

BRITISH.

the east coast of Great Britain was ss. 9d. to 6s. 3d., and
to Liverpool 6s. 6i. to 7s. per qr.
At Stettin, on the 10th instant, prices of wheat were
nearly nominal, little or nothing having been done there
during tho week, in consequence of the scarcity of the
article. The stocks of old are represented to have been
reduced into a very narrow compass, whilst of the new
crop supplies had scarcely begun to come to market.
The accounts from Rostock are of a precisely similar
character ; but, though the actual transactions had been
so unimportant, this had in no degree lessened the con-
fidence of holders, who had demanded 53s to 555. per
quarter free on board for wheat.

The important rise which has taken place lir the value
of wheat within the last two months, in 'consequence of
the extensive failure of the potato crop, has drawn gene-
ral attention to the cor❑ trade, and led to some very sin-
gular remarks from writers for the daily press. Most of
these gentlemen appear to overlook the real cause alto-
gether, and attribute the advance in prices of provisions
solely to undue speculation. That well-informed com-
mercial men should have foreseen that the effect of a
loss of one-half or three-fourths of the potato crop would
be to enhance the value of grain, we are quite willing to
admit. The result of this foresight naturally led them
to make investments in an article which was likely to
yield a profitable return ; but, so far from this being an
evil, we are disposed to look upon it as a positive good.
The prices may, perhaps, have been run up somewhat
more rapidly than would have been the case had there
been no speculation ; but if the failure of potatoes be,
indeed, so extensive as it is believed to be, the rise which
has been established in prices of wheat must prove bene-
ficial in a variety of ways. In the first place, it will be
the means of causing economy in the consumptii n of
wheat, and lead to less valuable substitutes being em-
ployed ; whereby ultimate want may, in a great mea-
sure, be prevented. This alone we view as a desirable
object under existing circumstances; but the benefit does
not cease here. About the middle of July, before the
potato murrain had manifested itself in its full force,
such exaggerated notions of the probable productiveness
of the harvest were entertained, that the price of wheat
became depreciated to an unnaturally low point ; so
low, indeed, as to render the English markets the
cheapest in Europe. This would have been very well,
had the abundance talked of been real instead Of ima-
ginary. The evil of this state of things was the export
from this country not only of bonded wheat, but, in
some instances, of that of our own growth, to France
and Belgium. Our false position was luckily discovered
before any great quantity of a commodity we now find
we are likely to stand so much in need of left our shores.
By whom was this important discovery first made ?
By intelligent and enterprising individuals, who, in
commercial parlance, are denominated speculators. We
do not mean to say that these parties had any but
their own advantage in view when they were induced
to buy up corn at the different foreign ports ; but in
a case like the present, private enterprise may be the
means of doing a national good. Whilst wheat re-
mained more valuable in France, Holland, and Belgium,
than in England, there was no chance of any portion of
the surplus growth of more favoured countries being sent
to Great Britain; hence we maintain that the advance
which has been established was highly necessary, and
we must deprecate the terms employed by some of our
contemporaries when they meddle with a subject they
evidently do not understand. Our paper is more devoted
to the interest of the agricultural than any other class ;
but we can, nevertheless, see the injustice, as well as the
folly, in any portion of the press stigmatizing parties
engaged in a legitimate commercial operation (which we
consider the purchasing of any commodity with a view
of realising a pr( fit thereon to be) by such terms as
Mark-lane miscreants, robbers, &c. No very marked
change has occurred in the position of the trade during
the week ; the farmers have kept the markets in the
agricultural districts tolerably well supplied with wheat,
but the quantity brought forward has not been more
than adequate to the demand, and prices have rather
tended upwards than otherwise. Buyers from the north-
ern parts of the kingdom have appeared in many of the
southern markets: which, with a good local inquiry, has
enabled farmers to obtain very full terms. The inroad
already made in the new crop must be enormous; last
year a large proportion of the supply consisted of old
wheat up to Christmas, whilst, liberal as have been the
supplies of late, nearly the whole has consisted of new.
It is, consequently, pretty clear that stocks had been
worked up close before the new crop was harvested; and
the consumption of the latter having commenced much
earlier than in ordinary seasons, it has become the more
necessary to endeavour to guard against future want-
This cannot be accomplished by legislative interference,
but must be brought about by such means as we have
before pointed out, viz., holding out the inducement of
high prices to those countries who have a surplus,
thereby drawing the supplies which might otherwise be
directed to France and the Netherlands to Great Britain.
Notwithstanding the boisterous weather experienced
during the greater part of the week, we have had large
arrivals from the east coast, and the receipts of wheat
have amounted to 11,994 quarters up to this (Satur-
day) evening. The quantity exhibited at Mark lane
by land carriage sansples from the neighbouring coun-
ties has, however, been small. On Wednesday the show
consisted of a few runs left over from previous supplies;
and the demand being somewhat more active than in
the beginning of the week, factors succeeded, in par-
tial instaaces, in obtaining slightly enhanced rates
for their finer qualities. On Friday the Essex, Kent,
and Suffolk stands were nearly bare ; the transactions
were consequently of a restricted character; but the con-
fidence of the sellers had evidently increased, and the
little business done was at prices fully as high as
those previously obtained. The effect of the rise which
has lately taken place in the value of wheat is now mani-
festing itself in the averages; the last general weekly
return for the kingdom (565. 10d.) shows an advance of
2s. 10d. per quarter, and the duty will fall to the mini-
mum point a week earlier than had been calculated on;
it is already down to 55., having receded 2s. per qr. on
Thursday ; and on the 22d instant all kinds of grain,
meal, and pulse will be admissible at the lowest
rates of duty under the existing law. The stocks of
wheat and flour in bond in the kingdom are, however,
so trifling, that the liberation of the whole cannot
be expected to produce any effect on prices. Indeed,
it may be questioned whether holders may not pre-
fer to leave their property under the Queen's locks, so
as to be in a position of availing themselves of any
foreign demand. In the early part of the week
there was not much doing in free foreign wheat, but
both on Wednesday and Friday the market was visited
by country buyers; and though the sales were not
particularly extensive, the parcels which changed hands
brought fully former terms. The very wet weather
which we have recently experienced is likely to cause an
increased demand for old wheat. Nothing of interest
has occurred in bonded wheat, the rise which prices have
during the last few weeks undergone here having
brought our quotations to a level with those in the
French markets, and stopped the shipments to that

The accounts from Hamburgh, of Tuesday, are not
so lively as the previous advices from thence ' • in wheat
the operations appear to have been principally for local
consumption, for which purpose equal to 565. to 58s. per
quarter seems to have been paid for the best qualities of
red. Barley had maintained its previous value, and fine
Saab had been in fair request at 345. to 355. per quarter
free on board. For oats, to be shipped from Denmark,
as much as 21s. to 225. per quarter has been paid ; and
for white boiling peas, irom the same destination, 425.
had been realised.

At the principal ports in the Mediterranean atten-
tion has of late been more directed to Indian corn
than to wheat, and large purchases of the former ar-
ticle have been made at Trieste, Leghorn, &c., at from
345. to 365. per quarter for good Galatz corn.—Marh-
lane Express.

THE ST. PANCRAS POOR.
On Monday afternoon a vestry meeting of the parish of
St. Pancras took place at the rooms in Gordon-square,
for the purpose of adopting some measures for the
amelioration of the condition of the poor. The chair
was occupied by the Rev. Thomas Dale, M.A., vicar of
the parish.
Mr. Churchwarden HowenTH proposed, in a length-
ened and elaborate speech, the following resolution :
That the vestrymen present avail themselves of the
opportunity offered by the attendance of the Rev. T.
Dale, M.A., vicar of this parish, in vestry this day, to
make known to him the satisfaction with which they
regard his appointment to the high and important office
which he fills in this extensive and populous parish; and
whilst they are well assured that he will zealously and
efiLiently discharge all the spiritual duties of his office,
they are disposed to believe that he will cordially support
Valt beneficial system of local self-government n 0..., esta-
blished in this parish, in connexion with the election of
vestrymen freely chosen by and responsible to the whole
body of rate payers."
The resolution having b♦en carried nem. con.,
The CHAIRMAN said he could not receive this mark
of their kind confidence without endeavouring to ac-
knowledge it. He felt that the position which he had
the honour of occupying involved duties of a most ar-
duous and responsible character —he hoped they would
allow him at all times to throw himself upon their can •
dour and good intention—he had come amongst them
without any previous knowledge of the affairs of the
parish, but he found them a body of gentlemen to whom
the management of those affairs were entrusted. With
regard to the principles of self-government he could not
but admit that it was the only just and fair government.
—(Much cheering.) They were perhaps aware
that he was not there merely from his own
choice; the act of the Legislature which had consti-
tuted them for the management of parochial matters
had likewise placed him there, and it afforded him great
encouragement to be amongst a body of gentlemen by
whom he had been so kindly received. He regretted to
find the ecclesiastical affairs of the parish in so unsatis-
factory a state. All, however, that he would say at
present on the subject was, that he trusted to bring a
scheme for the promotion of the spiritual interests of the
parish, and he hoped he should receive the support of all
those who wished well for the spiritual and temporal
welfare of the parish.—(Hear.) They must do all in
their power to ameliorate the condition of the poor of
that parish, and he (the Chairman) spoke necessarily as
one altogether untried, but he had left a parish in per-
fect peace which he found in a state of division and irre-
gularity. After some further remarks the Rev. Chair-
man resumed his seat amidst much cheering.
After some further discussion the meeting adjourned.

thing in their constitution which gave them the pcWer
to dissolve the Company. He was willing to proceed
under the skilful management of the directors. Not-
withstanding the efforts of the press to cause dissatis-
faction in Spain, the marriages had happily taken
place, and no doubt would have that happy effect which
the marriage of oar Queen had had.—(Loud cries of
" No, no," " Question," and disapprobation.) He ad-
vised them to take legal advice with respect to their
dissolution.

A SHAREHOLDER inquired if there was not some ar.
rangement that the Government should take 30,0001
Spanish stock, instead of 30,0001. of English money.
The CHAIRMAN said that was in the course of arrange-
ment.

Mr. KEDDEL, the solicitor to the-Company, explained
that the Company, as it then existed, was but a branch
of the former Madrid and Valencia Railway Company,
and that all they could do to-day was to express their
opinions, as any resolution which was not in conformity
with the statutes of Spain would be useless. The pro-
spectus set forth that the Company would be formed
according to the commercial code of that country. It
was not possible for a branchsto dissolve the whole Com-
pany.

-15 r. BOWRING, M.P., with a view to bring the meet-
ing to a decision, proposed the following amendment:—
" That this meeting do now adjourn in order to give the
directors an opportunity of considering whether any
legal means can be found to enable discontented share-
holders to withdraw from this undertaking."
The motion was seconded.

Mr. WALEY defended the directors, and contended
that they had conducted the affairs in the most econo-
mical manner. They had surveyed fifty miles, sent three
embassies to Spain, kept a secretary, and but one clerk
and a porter, and were ready to show any account, and
every part of their transactions, to any one who might
wish to see them. They had spent a good deal of their
time in' its affairs, and had not charged for a single
glass of wine or a biscuit.—(hear, hear.) If the com-
pany were dissolved to-morrow they would experience
a release rather than pain.
Mr. GEORGE briefly addressed the meeting, and sub-
mitted some propositions, which he afterwards with-
drew in favour of Dr. Bowring's amendment.
Some further discussion occurred, from which it ap-
peared that by converting the caution money into
Spanish stock, some 10,0001. would be saved ; that if
they proceeded, the 30,0001. would be available for the
construction of the first section; and one shareholder
inquired if they could pay in Spanish " bonds," which
excited some merriment, but no response from the
chairman.

HAMBURGH MAIL.
HAMBURGR, Ocr. 14.—Summary list of ships of all
nations which passed the Sound in the month of Sep.
tember, 1846:
From the North Sea 1,230
„ Baltic 993

2,223

Of these the English were—
From the North Sea
„ Baltic

The report was received.
Dr. Bowring's amendment was then put and carried,
and a vote of thanks having been awarded to the Chair-
man and directors, the meeting broke up.

country.
Home-manufactured flour has moved off rather tardily,
and the millers have not been enabled to establish any
further advance. Free American flour has been in fair
request at the full currency of Monday last ; and for
bonded parcels there has been a speculative inquiry,
which has led to a rise of Is. per brl., 355. having actu-
ally been paid for a parcel of fine United States flour in
bond.

The arrivals of barley coastwise have been quite mo-
derate, and the best malting qualities have been held at
enhanced terms. An opinion is fast gaining ground that
this grain is to be much dearer, and in some parts of the
country higher rates have been paid than have as yet
been current in the metropolitan market ; the top price
at Mark-lane has not, as yet, exceeded 465. per qr.,
whilst 475. to 48s. has been paid in some parts of the
country. Grinding barley has been in fair request, and
has realized 325. to 355. per qr., according to weight,
condition, &c.

The upward movement in the value of barley has had
more or less effect on that of malt, and towards the close
of the week holders refused to sell at last Monday's cur-
rency.

Tile market has been sparingly supplied with oats,
only 16,832 quarters having arrived during the week,
inclusive of 440 quarters from abroad. The principal
dealers have conducted their operations with even
greater caution than before, and have determined to
work up their old stocks before they consent to pay the
rates now demanded. Tolerably good Irish oats have
been held at 30s. to 315., and the finer kinds of foreign
at 235. to 305., whilst English and Scotch, of which the
quantity in the market is very small, have been held still
higher.

The enormous rise which has lately taken place in
the price of Indian corn at Liverpool, has had more or
less influence on the value of the article here ; but, for
the want of stocks, comparatively little business has
been transacted.

Beans of home growth have been taken in •mall quan-
tities, at fully previous terms. In Egyptians there has
not been much doing, either on the spot or in floating
cargoes. This article is at present relatively cheaper for
feeding than any other.

The high terms demanded for peas has had the effect
of causing economy in their use ; and, for some weeks
past, the demand has been very restricted.

FOREIGN.
By the steam-ship Cambria we have advices from
New York of the 30th ult., and accounts of corre-
sponding dates from other parts of America. On
receipt of the English letters by the Great Western,
flour rose immediately half a dollar per barrel at
New York ; but the Cambria left so shortly after
the arrival of the Great Western that time had
hardly been allowed to ascertain the full effects of the
exciting accounts from hence. During the week end-
ing 30th September about ton thousand barrels had
been brought up for shipment, besides which nearly
doubled that quantity had changed hands on speculation ;
the price in both cases having been five dollars per
barrel for good brands of Genesse, and corresponding
terms for other sorts. Subsequently, holders advanced
the price of Western canal to 5 d. 50 c., at which a
s sle or two were made on the day of the departure of
the packet. The exports of flour had amounted to
81,744 barrels from the Ist to the 29th of September !
whilst, within the same period, 144,444 bushels of
wheat, 74,929 bushels of Indian corn, and 50,374 bushels
of rye had been shipped. Stocks of grain and flour on
the spot are represented as small ; and the arrivals from
the interior had not kept pace with the demand. The
accounts from the other American markets are of very
little interest, as the news from England had not yet
been received at Baltimore, Philadelphia, &c. ; and
quotations from those places are consequently much
lower than those from New York.

(An impression seemed to be general on the other side
of the Atlantic that the wants of Great Britain would
not, in reality, prove so great as represented; merchants
were, therefore, not di-posed to consign on their own
account, and it is clear that comparatively little will
reach us from that quarter except what may be brought
by the British speculator.
All over the continent of Europe the value of wheat
continues steadily to advance, but there does not appear
to hive been much business done at any of the Baltic
ports at the enhanced rates demanded.
From Dantzic we learn, under date of 10th of October,

that about 9,000 quarters of wheat had changed hands
during the week, but our letters do not inform us of the
particulars of these transactions. Fine high-mixed qua
lities were then quoted 58s. to 60g., high mixed, 555. to
575., good to fine-mixed, 535. to 555., ordinary sorts, 51s.
to 525. per qr. free on board. Freight to London and

THE SUN, LONDON, WEDNESDAY EVENING, OCTOBER 21, 1846.

LAW INTELLIGENCE.
COURT OF BANKRUPTCY, October 20.

The Rev. R. P. Burton, A. 8., clerk, now acting as
curate at Somersham, near Ipswich, and formerly of St.
Peter's, Stepney, obtained his final order to-day under
the Insolvency Act. His debts are stated at
4,0461. 7s. Bd., and his credits at 1,000/. lie ascribes
his difficulties to pecuniary liabilities incurred for his
brother, Arthur Burton.

A bankrupt of the name of R. Francis Barber, described
as a publican, lately conducting business at the Sir Paul
Pindar, Bishopsgate-street, was adjourned for unsatisfac-
tory accounts.

Mr. Cooke opposed, and Mr. Lawrance supported.
The debts of the bankrupt are not large, but his con-
duct seems to have been very profligate. He could give
no clear account of a sum of 3/. per week charged in
his balance-sheet for extra expenditure. further than it
went in pleasuring, attendance at theatres, and other
nocturnal amusements. He admitted that he frequented
a " private lodging " occasionally, the rent of which he
paid, besides remunerating the person who domiciled
there. The bankrupt's conduct in court was marked by
the greatest levity.

SURREY QUARTER SESSIONS.
The general quarter sessions for the county of Surrey
were held yesterday at the Court-house, Kingston.
The magistrates present were E. Penrhyu, Esq., Chair-
man; J. Trotter, Esq., M.P.; J. I. Briscoe, Esq.; Sir IL
Frederick, Colonel Challoner, J. W. Freshfield, Esq.;
R. A. C. Austen, Esq.; A. K. Barclay, Esq.; G. Best,
Eiq.; C. Barclay, Esq.; J. E. Johnson, Esq.; G. T.
Nicholson, Esq.; H. M. Parratt, Esq., &c.
It appeared by the reports of the governors of the dif-
ferent houses of correction that their establishments were
not sufficiently capacious to contain the unusual number
of prisoners committed to them, and that during the in-
tensely hot weather three and four prisoners had been
confined at night in one small cell.
Mr. JOHNSON moved that a committee be appointed to
take the subject into consideration, and report upon the
best means to be adopted to provide adequate gaol ac-
commodation in the county.
The motion was carried unanimously.
Mr. PARRATT said he should be glad if Mr. Sibley,
the keeper of the House of Correction at Brixton,
would give some explanation in reference to the charge
that bad been made against him in the public prints, of
having ill-used one of the female prisoners in his charge.
The case referred to will be fresh in the recollection of
the public, as having been heard at the Lambeth Police-
court, when it appeared that a woman named Maria
Roast had been kept for 24 hours with her hands hand-
cuffed behind her back

Mr. PARRATT inquired whether it was correctly stated
that the woman bad had two pairs of handcuffs on?
The governor replied that it was the fact, but he was
not aware of it. The turnkey, without his knowledge,
had put on a second pair, finding that the first were
much too large.
The CHAIRMAN said that, by rule 80 of the gaol re-
gulations, the governor of a prison had the power given
him to handcuff a prisoner, but it could be only done
when he considered it absolutely necessary, and then he
was bound to report the circumstance, and to make an
entry in his book; and he could not keep a prisoner in
that state over 24 hours without the order of one of the
visiting justices.
Mr. BRISCOE said that at all events this rule had been
violated, for the power was only delegated to the go-
vernor himself, and not to a turnkey.
Mr. A. R. BARCLAY acquitted the governor of the
charge of cruelty, but must express an opinion that it
was very improper to use handcuffs in this manner, and
he considered it little better than a species of torture.
He believed that in the present instance, what had been
done was absolutely necessary for the peace of the pri-
son, but he hoped that before long the use of iions in
prisons would be altogether abolished.
In answer to questions put by the Court, Mr. Sibley,
the governor of Brixton, detailed the conduct of the
woman, which appeared to have been of the most violent
and outrageous description.
The explanations given by the governor appeared to
be satisfactory to the majority of the Court, and a reso-
lution to that effect was carried, the Court at the same
time expressing regret that two pairs of handcuffs had
been made use of; it did not appear that the additional
pair had caused any increase of punishment.