The Sun.
London, England, 1856-11-12 00:00:00

.flO NE Y MARKET

THIS IiARJ mAit.II,.ETS

"PHIS DAY.)

AND
N" aLLIGENC

RAILWAYS.

Bhr. It',

4AILWAYB.

!ITV, Two i'('!Loti,
Fr, garket yesterday closed
quietly bat firmly. an I, compared with Friday,
rates of Americans were a shade dearer, but other
de-criptions remained without change. The sales
were-4,000 bales, of which 400 were taken for ex-
port. The ti,tilway Share Market was quiet, but
subsequently closed with a dull appearance at
Monday's prices.
Accounts from Ma:lrid of the 7th inst. state that
a Government decree, announcing an extraordinary
credit of 50 to 60 millions of reals, has been opened
to the Ministry of Commerce, for the purpose of
purchasing grain for the destitute classes. Already
large arrivals of wheat have been bought, and the
speculators are obliged to open their granaries and
dispose of their stock at a moderate price.
Commercial advices from Belgium contain the
official analysis of the export and import trade of
Belgium for the year 1855, compared with the pre-
vious five years. From this table it appears that
the external trade of the country is progressing
satisfactorily. The average of the years 1850 to
1854 has been exceeded in the year 1855 by as
much as 28 per cent. The united imports and
exports for that year were valued at 1,376,000,000
francs, being 41 millions more than in 1854, and
298 ditto than the quinquennial average. The im-
ports for consumption and in transit amounted to
678 millions, and the exports to 698' millions. On
the year 1851 this shows a diminution of 2 per
cent., and an increase of 25 per cent. on the ave-
rage. The imports of foreign merchandise amount
to 354 millions, or 10 per cent, more than in the
preceding year, and the Belgian exports to 371
millions, or 10 per cent. less.
The Foreign Exchanges yesterday afternoon were
generally rather lower, including the quotation on
Paris. On Hamburg, however, there was a trif-
ling advance. According to the latest ad vices from
New York the exchange on London was maintained
at its previous point; consequently a small profit is
still derived from the export of specie to this
country.

Closing Prices
this day.

nwoness done
this day

The demand for discount accommodation at the
Bank of England and in Lombard-street is becom-
ing more active than it was, but the resources of
the national establishment available for discount
operations are believed to be ample, owing to the
recent reduction in the other securities. Part of
the increased inquiry is attributable to the Stork
Exchange settlement, and the unfavourable impres-
sions produced by the unfounded rumours recently
circulated.
There aee fears, however, of a further applica-
tion of the "scree at the Board meeting to-mor-
row. On this account the public are eager bor-
rowers, and the discount market this morning is
described as being very tight. It is rumoured that
the Bank will refuse to discount bills of a longer
date than 30 days, which, however, is not generally
believed.
In the market for English Securities there is very
little animation, but prices, on the whole, were
well maintained in the early part of the day.
Soon after the commencement of business prices
tended upwards, but they have since ruled
flatter. The investing public, as well as the
time dealers, are operating very cautiously,
and the market consequently presents a
dull appearance. Consols have been 92i
and 921- for money. The account values have
been 92i 93, and 93, buyers. They are now
about 921, buyers, for December, and were being
depressed in consequence of the rumour above men-
tioned. The New 3 per Cents. are 914 1, the Reduced
941 and the New 2!„; per amts. 76. Bank Stock
is 214 and 216, and East India Stock 2261. Ex-
chequer Bills are depressed at 2s. discount to par ;
the Bonds aro quoted 98 and East India Bonds
3s. premium.

papers.

The transactions in Foreign Stocks have been
very limited, but some of the quotations have ad-
vanced. Turkish 6 per Cents. have been at an
advance of I to I per cent., being 90k 7„ and
the 4 per Cents. are nog. Mexican stock is
22 to 221, Belgian 41 per Cents. 97, and
Dutch 4 per Cents. 951. Buenos Ayres have risen
to 90, although on what precise ground has not
transpired. The Committee of Spanish American
Bondholders have received no advices by the Avon
relative to this debt.

The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 64 74 ; Mexi-

can, 21i 22k ; Peruvian 41 per Cents., 76 8 ; ditto
3 per Cents., 54 56 ; Portuguese 3 per Cents.,
43 5 ; Russian 5 per Cents., 106 8 ; ditto 41 per
Cents., 95 7 ; Spanish 3 per Cents., 411 42 ; ditto
Deferred, 23 24, ; ditto Certificates, 5 A ; ditto
Passive, 57 61.

The dealings in the Railway Share Market to-
day have been to a fair extent, notwithstanding
the dealers are generally engaged in making ar-
rangements for the settlement on the 14th inst.
The charge for conveyance on most of the
chief lines is about to per cent. An improve-
ment of abouti per cent. may he quoted on the prices

of yesterday on the business done this morning.
CaledoLian, Great Western, Lancashire and York-
shire, South-Western, Midland, and North-Eastern
Berwick aro all at improved values. Toe Foreign
and Colonial lines are dull, with no material alte-
ration in quotations to notice. Sambre and Meuse
declined los.
Joint-Stock Banks and Miscellaneous shares are
dull, at former prices.

RITISII FUNDS THIS DAY.—CLOSING PRICES.
(From the Official List.)

it:::;, v.., done.
Bank Stock
.................. • ........ 214 16 ,
3 .•,,, ‘..,:r. i-teduc..eil. ~,z.uuities . .... . 9li 4% g
pel Cent. :,elmte A nneitt.i. 2•4 ) #
~r ,`ent. Annu,,.. -4
IndiNew 24 per Cent. Annuities
Indiaa, Stock ........ . ..........................
Lock ..i.,. i.
...,
..., . ..... .., ••• 2,P
ConsoDia°, under 21000 ........................ ..• 3 P
ls
,t.ccount - 3 21r g
E‘,:h.gas, lills. lc
.........
!:!500 .... ........... .
:hush ...............▪ ..
2
....... .
Ditto Bonds, 1858, 34 per Cent.
PRICES OP FOREIGN FUNDS THIS DAY,
Brazilian Bonds, 5 per Cent.
Ditto New, 1852, 44 per Cent. . Cent.......'.... 98 i
Buenos A yres 13onds, 6 per
NiexiDitto Account ........................ -...
Dittocan 3 per Cent .......... . ...............
Account ............
Peruvian Bonds 4i •
per Cent ...... .. .
Ditto Account .. .
Russian Bonds, 1622, E St., 6 Per Cent —
TDitto 4.. per Cent.
urkieh i;onds, 6 per cent
Ditto Account ... ..........................
Ditto Guaranteed. 4 Cent.
'dew.. 1. perfiber', tn Lort,o..
Bei,giitatno,42i per Cent., ex. 25 francs ..
i per Cent.. ex. 25 fra.nes ...... 97
Ditto 4 per Cent. Certificates •..•
951
Con Ards ( TREE O'CLOCK.
Mon El') , .................. ..... ...... 92 1
Ditto (Account) December

issued.

LETTERS FOR CERTAIN PLACES AA.STWARD
OF INDIA.

By a Treasury warrant dated the 23d Oct., 1856, the
postage of fourpence the half-ounce, hitherto chargeable,
in addition to the race to India, on letters for Borneo,
Labuao, Sumatra, the Moluccas, and the Philippine
Islands, specially addressed to be forwarded via India,
has been repealed. Letters so directed will be liable in
future to the following rates, viz.:-1. Via Marseilles.._„
Not exceeding I oz., 11d. ; above oz. and not exceed-
ing oz , ls. 4d. ; above A oz. and not exceeding I oz.,
2a. 3d. ; above I oz. and not exceeding 1 oz., 2s. Bd. ;
above 1 ez, and not exceeding 11 cz., 43. id. ; above 11 oz. and not exoeeding 1 oz , 4s. 6d., and so on, adding
one shilling British postage for every additional ounce or
fraction of an ounce, and sd. French postage for every
additional quarter clan ounce :-2. Via Southampton.
Not
exceeding -11
02 6J. ; above oz and not exceeding
1 oz , la. ; above 1 oz. and not exceeding 2 ozs., 2s. ;
above 2 ozs. and not exceeding 3 oze., 33 ; above 3 on.
and not exceeding 4
"8.1 4s. ; above 4 OZ4. and not
exceeding 5 oz di
,5. and so on, adding one shilling for
every additional ounce or fraction of an ounce. News-
papers will be liable to a postage of 4d. each when trans-
viami vi Marseilles, and of, 2d. each when transmitted
Southampton. The posage on these letters and
newspapers must be paid in advance, or they cannot be
forwarded.—By command of the Postmaster-General,
ROWLAND HILL, Secretary.
General Post,ffice, 8h November, 1856.

GALLERY OF ILLUSTRATION. Miss p. NORTON'S
ENTET:AINME an abßence of several weeks,
du period they have made a
most s•uccesAeul
tour w
through the provinces, Mr. and Mrs. T. G. Reed
will reappear in their popular entertaiument at the Gal-
lery of Illustration tomorrow (TI ureday) mai",

T E. StrN, th

LAW INTELLIGENCE.-( i. 3) f

COURT OF CHANCERY.
(Before Vice-Chancellor Kinderaley.)

THE ROYAL BRITISH BANK.

Mr. Rolt, immediately on his Honour taking his sea't
this morning, rose and said the other day he applied Oa
the Court for an itijunction --
His Honour said the application of the learned coun.
sel was entirely a legal question, and the only way toi
settle the point relative to the official manager and the.:
official assignee would be by an action at law in the,
proper court. But tke effect of such a proceeding would:
be that the creditors of the bank would be precluded,
thereby from receiving for some time a dividend of 45..
in the pound, which was nearly ready for distribution
by the official manager. Debts to a large amount were
ready to be proved, and there were assets in the Bank of
England, and the only question that remained was..
who was to receive the money. It was a question
of preference between the official manager and the
official assignee ; and if it was the wish of the counsel
that he should give judgment, ordering an action of
law, he was quite ready to do so. If that course

- -
was not wished then he would let the question
stand over till he gave judgment on the case that had
been argued before him ; namely, as the question who
was to be the receiver of the property of the bank, the
official assignee, or the official manager. The present
question was merely for hino to issue an injunction to
restrain the official manager doing a certain thing—the
issuing of further notices and advertisements relative
to the reception of tenders for the disposal of the pro-
perty.

Mr. Rolt said the creditors prayed his Honour's deci-
sion on the point. They did not wish to go to law
about it, but if that was the decision of the Court, of
course they would bow to it.

Mr. Glasse, on the part of the official manager, said
it was not wished on their side to hare recourse to an
action at law.

Mr. Rolt —lt is quite certain that in three weeks after
the oficial assignee of the Court of Bankruptcy is put
in possession of the property of the bank they would
declare a dividend.

The Vice-Chancellor—The official manager says he
shall be ready to do so at the same time.

Mr. Rolt again urged his Honour to decide upon the
point at issue.

The Vice-Chancellor said it appeared to him to be
simply a question by whom was the dividend to be paid.
He thought the most simple way was to let the money
be distributed by the official manager, without respect to
the question of right. Neither party, it appeared,
wished to try the question at law.

Mr. Glasse said if it was intended to try the question
he was prepared to go on.

The Vice•Chancellor—The question simply before me
is to restrain the official manager from proceeding to re-
ceive tenders for the disposal of the property of the
bank.

Mr. Rolt—The creditors of the bank have great dis,
trust of proceeding in Chancery.

The Vice-Chancellor—That does not affect the ques
Lion of the realisation of profits.

Mr. Rolt admitted that, and again asked his honour
to decide on the point.

The Vice-Chancellor— You say it is the wish of the
creditors that the whole of the moneys and property of
the bank should be handed over to the official assignee
of the Bankruptcy Court.

Mr. Rolt—Certainly ; that was the wish of the cre-
ditors. If he was wrong in the view he had taken of
the case, then he was ready to submit to an adverse
decision, but if he was right then there would be no-

thing further done in the Court of Gnancery.
The Vice-Chancellor—What do you at present re.
quire?

Mr. Rolt —To order the withdrawal of the adver-
tisement with reference to the sale of the property,
mad also to stop the issuing of writs by the official
managbr.

Toe Vice-Chancellor—I cannot withdraw the news

Mr. Rolt—The bills can be taken down from the
premises. The learned counsel having again urged the
Court to decide in favour of the proceedings going into
bankruptcy, read the following letter, which had been
received by Messrs. Linklater aed Hack wood :
South Sea House, Threadneedle-street,
Nov. 10, 1856.
Dear Sirs,—The solicitors for the official manager hav-
ing applied to Vice-Chancellor Kindersley's chief clerk on
Saturday afternoon (Bth inst.), for an order authorising the
directors to appeal, at the expense of the bank's estate,
against the adjudication in bankruptcy; and an order for
that purpose having, as I have since understood, been
made, notwithstanding that I attended at the time on be-
half of the directors, and informed the chief clerk that
they wore no parties to the application, and that I believed
they would no:: act on the order if it should be made, I
convened a meeting of the directors this morning to
determine whether they would or would not appeal ;
and Mr. Burton attended the meeting to explain the
views of himself and the official manager on the sub-
ject. The meeting was also attended by Mr. Reed (of the
firm of Reed, Langford, and Marsden), on behalf of Mr.
Alderman Kennedy, and by Mr. Robins (of the firm of
Yenning, Naylor, and Robins), as the private solicitor of
Mr. Esdaile.
I now beg to acquaint you that the directors, after very
full and mature deliberation, have resolved net to appeal
against the decision of the Commissioners in Bankruptcy
confirming their adjudication.
As the application for the chief clerk's order was made
ate late hour (between three and four on Sa',;urday after.
noon), I was unable to get my clients together before this
morning.

I remain, dear Sirs, yours faithfully,
RICHLRD PADDISON.
Messrs. Linklater and Ilackwood, Sise-lane.
At the termination of the reading of the letter a die
cuimon arose as to the restraining of the official amignee
from acting.

His Honour eaid his order did not restrain the official
assignee from acting. All he could do was to prevent.
any unseemly squabbles, and he thought the way both
gentlemen had acted was very judicious.
Mr. Rolt again asked for judgment up3n the with-
drawal of the advertisement from the premises, and a
stoppage of the present actions.

The Vice-Chancellor—What is the amount of debt
proved under the Bankruptcy proceedings ?
Mr. Rolt-200,000/.

The Vice-Chancellor—Under the Winding-up Act the
amount is 553,0001.

Mr. Rolt—Will your Honour order the taking down
of the placards, and that no contracts be entered into
until your decisi-n is given ?

The Vice-Chancellor said he bad already given direc

tions to the official manager which would prevent him
going on with proceedings or prosecuting actions which
were not absolutely necessary until judgment had been
given.

Mr. Rolt said he had learned that no less than 400
writs had been obtained, and 200 had been actually

The Vice-Chancellor—lf I must decide whether those
writs are to drop or go on, then I say they must go on ;
it is possible for them to remain in state quo.
A long discussion here took place relative to the re-
ceipt of tenders for the sale of the property, in which it
was contended that no harm could by any possibility
be done to the property by the reception of tenders for
the premises.

The Vice-Chancellor said he bad already given direc-
tions to his chief clerk, and he would on no account
suffer actions to be brought against certain persons,
except it was in some special case ; and that no
proceedings in any of those actions already commenced
would go on further than was absolutely necessary
to keep the proceedings alive. It would not be a
very long time before he would be prepared to deliver
his judgment, and the matter would then, to a certain
extent, be at an end. With regard to the issuing of
advertisements, or the posting of placards, the official
manager would not take any further steps in that direc-
tion, and the matter would therefore remain in statu quo
until judgment was given on the question between the
official manager and the official assignee.
Mr. Rolt—No contract would be entered into, and no
action proceeded with.
The Vice-Chancellor—Certainly. I don't make any
order of injunction in the case, but I will give further
directions to my chief clerk.

COURT OF BANKRUPTCY.
(Before Mr. Commissioner Holroyd.

IN BE C. J. MAIM

To-day was appointed by adjournment for considera-
tion of the certificate of this bankrupt, Mr. C. J.
Mare, of Blackwail, the well•known shipbuilder.
The Court was crowded by parties interested, as
several meetings have been held with a view to effect-
ing a private arrangement, so that the proceedings in
this Court might be superseded, but which were finally
disposed of yesterday, Mr. Rolt, of the firm of Brookle-
bank and Rolt, not being in a position to prove a large
debt of 120,0001., part of a larger claim,

It should be observed that notwithstanding the pro-
ceedings in Bankruptcy, and the private meetings to
obtain a supersede:le, the works and Government con- ,
tracts have been carried out by the assignees, who placed
them under the snperiutendence of Mr. J. Johnstone, the-
messenger of his Honour's court, and a great portion of
the property has been sold. The remaanng works, the
monster mortars for the Government, and the shaft for
the engines of the mammoth ship building at Blaokwall,
arc nearly onvieted, and when finished a considerable