The Sun.
London, England, 1851-10-27 00:00:00

raz:

raid. Nominal Prices, I Basincs4 don
Asturian 15 ..
Anstralia.n ....•••• •• .. 4 114 214
larossa Range •• .• • 113 C 334 •
illaenarvon Iron and Coal all .• —•• •
Belanos Scrip ..
British Iron.. •• .. •..... 13 5 .• —••
Brazilian Imp. (is. 5/.15.) 2434 ••
Do. Cocaes and Culaba all .. —••
Do. St. John del Itey • • 15 20 —2 l
Cobre Copy z • .... ... 40 33 34%
Copiapo ,• • .... • 14 634 734 •
General......• ........ all 13% —l4
Mexican& S. American 9 374 434'
Real Del Monte, Uureg.
Do. Black Debentures . -- •
Do, Red Debentures .. • ••Santiago tie Cuba ...... 10 4 3%
Tin Croft .. ••• • • ....... 7 8
United Mexican. -• • •• 28 28%1 3 --2 ' 234
SOXNT EVIC•CDC2II narzzcs.
Australasia ...... • • .... all 37. 334 x.d
British North America.. 50 45 —46
Colonial . . 25 10% 114
Commercial of London.. 20 25 -- 264
London Joint stock .... 10 • 18% 17%
London and Westminster 20 2834 1934 2934
National Provincial Eng. 35 ..
Natonal of Ireland 2234 18%
Oriental Bank Corporat. all 26 254 .
PrdVillCial of Ireland.... 25 42 —.44
Do. New .. ••• • • .... all 1574 —1634
Union of Australia •• all 35 3i34 '
Do. New ............ 234 3 34
Union of London ...... 30 14% 184 .
Caron of Aliadrid •- , all -
.
IVLISCEIMANEOUS.
Canada •• •• •• 3234 48 4934
Gen. Steam Navigation. 14 2634 —2B x.d 2734 34
Penin: & Oriental Steam. all 65 6734 .
Ditts ditto • 10 14% 154
Royal Mail Steam ..•• .. 60 73 79% x.d

,JINEOUS.
4.8 —494
26% x.di
65 67%
14% 15%
73 79)4 1 x.d
October. Ticket days for reg.
Account days, 17Lh.and 31st.
‘e errors of the Official Mats, and
correspondents.]

Ditts ditto
Royal Mail Steam ..••
Settling days in the m,

telea shares. 16th an,

onth of
rd 30th.
able for th
interested

rwe cannot bo answeri
will not be influenced by

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
The sales of Cotton at Liverpool on Saturday were
estimated at 7,000 bales, of which 1,500 American were
taken for export. The sales comprised 5,000 American,
200 Penmen and Marenham, at sid. to 6id.; 100 Bahia,
at 50. to 6d.; 100 Egyptian, at 6FI. to 71d.; and 1,000
Surat, at 24d. to 3id. per lb. The market was tame at
previous rates.—ln Railway Shares a very limited busi-
ness was done at rather lower prices.
Grain is at full prices.
Complaints are made of the very small return hitherto
upon the shares of Rastrick's Manchester Railway Com-
pany, and certainly the expenditure must have been very
extravagant to leave 4/. 38. 61. only out of 51. 55., con-
sidering the large number of shares taken up. The
balance would make up an immense sum, and unless the
scheme had actually been brought before Parliament
this ought not to have been wholly expended. The
subscribers are loudly complaining, and appear grie-
vously disappointed, as much at the delay in the final
winding-up of the concern as at the heavy deduction,
We fear, however, that a little inquiry would satisfy
any one of the miserably tedious working of the " Win-
ding-up Act." The legal impediments thrown in the
way by interested parties, the withholding of minute_
books by various juggles and evasions, the embezzlement
of the memoranda and records that would establish the
liability of managing committeemen for expenses incurred,
and thus satisfy the baffled creditor, and relieve the mere
honorary member of the company—the "Provisional"—
are all evils to he deplored, and evils which, as it appears
to those interested, are not boldly grappled with by the

Masters in Chancery. If a more stringent view were
taken of such manoeuvres, and the non-produc-
tion of minutes were taken as prime facie evi-
dence of the liability of the managing committee in
whose possession they were known constantly to have
been, some abortive undertakings that we could name
would have been wound up long since to the content-
ment of creditors, contributories,iand committeemen. The
original intent of the Act seems, however, to have iseen
entirely averted, and so far from assistance being ren-
dered to creditors, against the powerful combination of
a few scheming committeemen, every possible technical
difficulty is thrown in the way. The creditor is required
—or at least asked—to prove what particular members
of the managing committee sat upon each eceasion of
the board meeting, so as to partition the debt liability
among them. At first sight this may not appear un-
reasonable, but when the, practical difficulty is shown
the injustice becomes obvious. In some cases the secre-
tary has vanished entirely from the scene, being, of
course, well paid to do so, and with him are gone the
minute-books and the principal documents. Collateral
evidence, therefore, is alone, available ; and if a creditor
can prove that the secretary was duly registered, or,that
he was recognised and received his salary as such, and
then further establishes the fact that this official gave
certain orders which the said creditor executed, there
should be an end of the matter as far as the latter is
concerned. Neither in equity or law ought he to be
made to prove more, and the whole of the managing com-
mittee should be compelled to contribute equally towards
the debt. Then, probably, one or other of its members
would protest that they attended not the board meetings
as often as their colleagues, but we should
meet that plea by declaring that they gave general sanc-
tion to the officer of the company to act in their behalf,
and if not, that they should have attended the board,
and protested against expenses being incurred. They
suffered the public to trust the company, or scheme, on
the faith of their respectability, and, like the partner of
a private firm, should be legally, as they aro morally,
liable. Taking the extreme view, however, that those
who attended the board meetings oftenest are most liable,
the onus of proof or disproof should be thrown upon
them. Thus, if a creditor proves his orders from the
secretary, let the Master direct all members of the ma-
naging body to pay an equal contribution, because a
dissatisfied at the apportionment, they can at once assist
the Master in more equitably dividing the liability, by
producing the minute-books. The principle of equal
contribution is, however, the right one, for when once a
managing committeeman—say the chairman, for example
—shows that he has paid any debt fairly incurred by
the secretary for the company, such chairman can reco-
ver from his colleagues their share of the payment. To
the host of claimants now before the Chancery Court,
the importance of some common-sense decisions corre-
sponding to our suggestions have long been obvious, and
unless given will protract the proceedings, and cause
farther appeals to the common-law courts, where, after
all, there is in these cases most equity.
The accounts from the -United States are satisfactory
upon the whole, but the failures have not entirely ceased.
A very heavy one had occurred at Salem for three-
quarters of a million of dollars. Money was tight, and
there was some uneasiness, but no specie comes by this
opportunity, and this may prove some relief. During
the week about half a million of dollars had been shipped
in specie from New York, and previously this year
31 289,000 dollars.
From New York it is stated—
'. The only item of importance in which there has
been any activity, in the way of exports, is breadstuff's;
but the movements in breadstuffs have been limited.
It will be seen that the exports to Liverpool, during
the week have been quite small. We can hardly con-
ceive it possible that a week could elapse without
greater shipment of merchandise to Liverpool than
appears in the above statement. There have been
further exports of phosphate of lime to London. The
quantity sent forward weekly, thus far, has been small;
but we shall, before the lapse of many months, carry
on a large trade in this article. The consumption in
England alone is equal to at least fifty thousand tons
gwansov greatly
yatilyn
per annum ; but we cannot supply such a demand at
once."
The Continental lettersborespinoerstsnaotstra
striking
thhirelirLe7bygthae political but
itical difficulties. At Amsterdam,
on the 25th ult., the Stock Market Was less firm either
for home securities or Spanish Bonds.
The English Stock Market has been particularly
buoyant, and a further rise of I per ctseit.has occurred
in the quotations. Thopolitical intelligence from
France has not assumed a more definite shape,
belt the excessive supply of money finds
a
vent chiefly in the Stock Exchange, owing to
the absence of speculation in other quarters.
Until the surplus money is invested, unless
will
serious
event occurs to impair confidence, prices probably
icsooornmes_totorwparred.,
as
se uo ps
ohaell,d ,wbhuotot the e
favourable operators forop
sent itself. Consols have been 97,i. to for Transfer
pao r u falln
17t yi
and Account. The New Three-and-a-Quarter per
Cents, have been marked 984 to S, and the Three per
Cents. 97 to 4. Bank Stock has been well supported at
214 to 14i. Exchequer-bills have risen is., being 541.
to 575-,wand India Bonds have been 603. premium.
There has been scarcely anything doing in the Foreign
Market. Spanish Three per Cents. have been done at
39; the Five per Cents. have been nominally 20i i; and
thei Passive 51 to is Mexican Bonds are flat at ,264
a ,
R. The news in the American papers is bad, as as
Sardinian Scrip
in respect to the condition of the Mexican Treasury.
insa3 discount, which P rtuguese Four per Cents. have been steady at 33.
in
taken the lead,
Railway Shares are looking up, the old lines having
transactions. ichhavehave beendtei 1.
numerous

ONE
PRICES OF BRITISH FUNDS O'CLOCICI4
Bank Stock 2l-N 211
3 k,er Cent. Reduced Anne.
3 per Cent. Consols Annuli iss..
New 314 per Cent. Anna ...... ......
Long ,"..nns. to expire Jan.lB6o •7
Ditto, 30 years, Oct. 10, 1859
Ditto 30 years, Jan. 5,1860.
India Bonds 1,001..... .......... .
Ditto under 1,0001....,.. ... .....
Consols for Account ..............
Uxo'aequer Bills.
14d.
1,000/.
5001.
Small, ..
51 57 p
ONE PRICER OF FOREIGN FUNDS. O'CLOCK.
M3xican, 5 per Ct., ex Jan. Coup.
Ditto, Account 26%
Peruvian Bonds, 5 per Cent —...
Portuguese 5 per Cents.
Ditto, 4 per cent.

CLOSING
ritICES.
214

975 ii
981,.1
7
63/4
714
60 p
973/4
57 P
57 p
57 p
CIAMINO
PRICES.
263/4
88V2