The Sun.
London, England, 1851-06-27 00:00:00

LONDON, FRIDAY EVENING, JUNE 27, 1851.

itself is not so completely free from blame as to
make it by any means clear that it is not legally
as well as equitably bound to rcimburee the
sufferers to the full extent of their losses.
Such a liability was unquestionably established in
the case of the Cuffe-street Savings Bank. Sir
CHARLES WOOD, however, while acknowledging the
propriety of the demand, with that peculiar littleness
of mind for which he is so remarkable, reduced the
payment to about one-balf of that to which the
claimants were entitled, thus setting the first example
of national breach of faith by compromising debts
fairly due by the country.
There is a dilemma from which the Right
Honourable Baronet cannot escape, on one or the
other of the horns of which he must neces-
sarily be tossed. The claim of the Cu.ffe-
street depositors was either well-founded or
not ? If well-founded, what could be more
discreditable than for the Government to com-
pel them to accept a composition of 103. in
the pound, to exercise its power for such a purpose,
substituting " might for right." But if the reverse—
if the grant of 30,000/. to those persons was a mere
act of charity, arising from compassion for their suffer-
ings, had not the Tralee and Killarney, the Roch-
dale and Scarborough depositors equal claims to the
favourable consideration of the country ? By resist-
ing the motion of Mr. HERBERT for an address to her
MAJESTY, praying that she would be graciously pleased
to extend the same measure of relief to the depositors in
the banks above alluded to, that had been already ex-
tended to the Cuffe-street depositors, Sir CHARLES
WOOD has afforded the best evidence that the claim
was well-founded, and has thus reflected an indelible
stain on the national honour and integrity.
Up to the year 1844 there was adequate security
afforded to all persons investing their savings in these
institutions. The Government was responsible for
all moneys placed in the hands of the Commissioners
for the Reduction of the National Debt, while the
trustees and managers, who were invariably persons
of sufficient solvency to make good any possible
loss that might arise, were liable for any stoppage in
transitu, or fraud, or malversation, on the part of
their servants. By the 7 and 8 Victoria, c. 83, it
was, however, provided that no trustee or manager
should be liable to make good any deficiency which
might thereafter arise in the funds of any savings
bank, unless they had declared by writing under
their hands, and .deposited with the Commis-
sioners for the reduction of the National Debt,
that they were willing so to be liable, or'
they might limit their responsibility to such sum
as should be specified in such instrument. From the
moment that this ill-advised and impolitic enactment
received the Royal assent, all security for future de-
positors was practically withdrawn. It was by no
means probable that any trustees would take active
measures to incur heavy personal responsibilities. The
persons who were likely to become depositors had no
means of ascertaining whether any, and which of the
trustees had assumed any, and what amount of liability.
And while they were deluded with the idea that they
bad the security of the nation, or at least of the nume-
rous influential gentlemen of undoubted solvency whose
names induced them to place implicit confidence in
the stability of the concern, they were awakened
from their dream by discovering that they had
neither one nor the other, and that they themselves
would be the innocent victims of the crassa negligentia
of the trustees and of the Commissioners for the
Reduction of the National Debt.

The most ordinary care must have shown the
parties whose duty it was to inspect the accounts,
which were required by Parliament to be lodged
with the Commissioners, that some gross fraud was
being perpetrated. For instance, in the statement
furnished by the actuary of the Killarney Bank,
for the year ending November, 1844, it was stated
that there were 129 depositors above 501. and not ex-
ceeding 1001., and that the gross sum to their credit
WAS 6,1251. 6s. 4d., whereas if each man had only the
minimum amount of 501. to his credit it must
have amounted to 6,4501. at the very least.

And, in like manner, that twenty-six de-
positors of 1001., and not exceeding 1501., had
to their credit 2,4091. ss. 6d., when it could not by a
possibility be less than 2,6001. To show the advo-
cates for a Government audit of railway accounts the
advantages to be derived from such an interference
with the shareholders' rights, we may add that this
absurd statement passed muster, and that similar
freaks were attempted in each successive year, until we
find, in 1847, the actuary returning that 41 depositors
of 1001., and not exceeding 1501., had to their credit the
gross sum of 1,3511. 18s. 2d. l) when it could not
by any possibility be less than 4,1001. If any private
person so shamefully neglected the duty imposed on
him he would unquesti9ably be considered liable for
the losses occasioned by what must be considered his
wilful default. Sir CHARLES WOOD, however,
refuses to sanction the claims put forward,
and, for the honour of the House of Com-

mons, we regret to say that he obtained a ma-
jority of 7 against the motion of Mr. HERBERT. We
commend these cases to the consideration of every
man of probity and integrity in the country,
and ask whether it is conduct befitting the
minister of a mighty nation ? and what effect will it
have on the general body of depositors when it is
known that this session, as well as the last, has been
suffered to elapse witbout anything being done to
amend the laws relating to savings banks, or to give
increased security to the depositors ?

OVERLAND MAIL

INDIA.
We have received a telegraphic dispatch from Mar.
seilles to the following effect :

" Tbe Indian mail, which left Bombay on the 26th
of May, has arrived at Marseilles.
" A terrific typhoon occurred at Ceylon on the Ist
of May, and at Madras on the sth. Nearly 20 vessels
were lost, amongst which is the Falkland steamer.
" There is no other news of importance.
" The sales of cotton were brisk, at reduced prices."

THE FRENCH REPUBLIC,..

We have received the Paris journals of yesterday.
The .Nationel has the following on the election of
M. DE TOCQUIVILLE as reporter to the Committee of
revision :

This result caused a considerable sensation in the
Assembly. The Bonapartists and the Legitimatists, who
more or less openly lean towards the Elye 62, after MM.
Berryer and Fslloux, were far from expecting such a
result; they tipper( dto be literally cast down. It was
the general subject of conversation in the lobbies and on
the benches of tie Assembly. M. de Broglie considered
himself sure of the majority, and M. Barrot felt no doubt
as to obtaining it bit/melt ; M. de Montalembert enter-
tained some sligit hopes, and the Elysee firmly reckoned
that it would be one of these three faithful cham-
pions of the re•eiection of M. Bonaparte, who would be
chosen by the Cinireittee. Never was there a greater
disappietment. In the discussions which had taken place
in the Committee during the last fortnight, M. de Tocque-
ville has constantly declared that be would not con-
sent to revision except in the strictest constitutional
forms; that the revisionist petitioning was, for the most
part, the result of administrative influence; that the As-
sembly ought to come to a resolute determination to
strenuously oppose any unconstitutional candidateship,
and to take measures to punish severely all those who
should be the promoters of it ; he also declared that he
would not accept the revision in the interest and for the
strengthening the Republic. It may, therefore, be con-
ceived that revisionist as he is, M. de Tocqueville will
be a very disagreeable reporter for those who only wish
for the revision as an implement of war against the Re-
public and the Constitution."

The following is the 111th Article of the Consti-
tution, in conformity with which the Committee has
expressed a desire for the revision
:
When in the last year of a legislature the Assembly
shall have expressed a wish that the Constitution shall
be revised, either wholly or in parr, that revision shall
be proceeded to in the following manner:—The wish
expressed by the Assembly shall only be converted into
a definitive resolution atter three consecutive delibera-
tions, taken each at one month's interval, and by three-
fourths of the votes expressed. The number of voters
shall be at least 500. The Assembly of revision shall
only be named for three months. It shall only occupy
itself with the revision for which it has been convoked.
Nevertheless it may, in case of need, provide for legis-
lative necessities."

The Committee on the Paris and Avignon Rail-
way Bill held on Wednesday an important sitting.
It decided that the State should continue the two lines
from Chalons to Lyons, and trom Lyons to Avignon.
Seventy-three millions were to be devoted to the
continuation of the works, which sum was to be
chatgeable on the estimates of 1851 and 1852. The
Committee recommends that a sum of twenty -five
millions only shall be expended this year out of the
amount of seventy-five millions, two-thirds of which
shall be applied to the line from Chalons to Vaise, and
one-third to that from Lyons to Avignon. The sums
necessary for the construction of these two lines to be
recovered by means of an issue of bonds, the interest
on which shall vary at the decision of the Minister
of Filiance, but can never rise beyond 51 per gent.
The Committee on the Budget will be called on to
declare itself on this financial question.
The Bourse was more firm than on Wednesday. There
was not, however, much business transacted except in
Railroad Shares. The Five per Cents. opened at
92f. 70c., and closed at 931. 10c. ; the Three per Cents.
closed at 56f. 50.; Orleans Railroad Shares, 850 f.;
Rouen, 6421. 50c.; Havre, 246 f. 25c; Great Northern,
4871. 50c.; Avignon, 215.; Vierzon, 460`.; Basle, 1511.
25c.; Bordeaux, 4001.; Paris and Strasburg, 3711. 25c.;
Tours and Nantes,27sf. ;
eOttEIGN RAILWAYS AT THE
LONDON STOCK EXCHANGE, JUNE 26.
Boulogne and Amiens, 948—Luxembourg, 2% Namur
and Liege, 6—Northern of France, 154—Rouen and
Havre, 9Aii—Sambre and Meuse, 3A—Tours and Nantes,
6!,8 ex d.

17..1F SHAR...E 1,4. 4R. ET ac

AILITIESEL ItAILWAYS.

EallwayL

Aberdeen.. .. ..
Ambergate, Nottingham,

Boston, & E. Juncion.
Belfast and County Down
Birming., Woiverhamp.,
and Stour Valley
Birkenh., Lan., & Cheah
June., late 331. 6s. Bd..

Do. Chest &
501. & 251. Consolidated

Po., d0.,201.
Bristol and Exeter..

Caledonian

Chester and Holyhead ..
Direct Lond. and Portsm.
Dublin and Belfast Junct.

Paid.

Noinizal Priam

Dublin and Kingstown.:
Dundalk and Enniskillen
Dundee, Pertb,and Aber-
deen Junction ..
Do., New ..
East Anglian (251. L. &
E. and L. & D.)
Do, (181. E. & H.) ..
Eastern Counties ..

l'astern Union, olass A,
late B. U. shares
Do. do. do. ..
Do. do B & C shares

East Lancashire ::

Do. New quarters • 1
Edinburgh and Glasgow
Edin., Perth, and Dundee
Exeter and Exmouth ..
Glasgow and South-West,
Do. do. G. D. & C. stock
Great Northern ..
Do. halves, A, deferred
Do. halves, B, 6 per ct.
Great Southern and
Western, Ireland
Great Western ..
Do. New, 171. .. ••
Lancaster and Carlisle ..
Do. thirds ..
Lancaster and Preston ..
Lancashire and Yorkshire
Do. quarter shares ..
Do. fifths
Do. West Riding Union
Leeds and Tbirsk
Liverpool, Crosby, and
.
Southport .
_ _

London and Blackwall
Do., Tilbury Ext. Scrip
London, Brighton, and
South Coast ..
London and N.-Western
Do. do. new quarters .
Do. fifths
Do. 101. sh., M.& B (c)
London and S.-Western .
Do. new 001.
Do. new 40/. ..
Manchester, Buxton, and
Matlock ..
Manchester, Sheffield, &
Lincolnshire
Do. Manchester and
Lincoln Union
'll idland

Do. 501. shares .. .

Do. Birming & Derby'
Midland Glt. West. (Ire.)
,lewcastle and Carlisle..
Do. quarter shares ..
'Newmarket

Newport, Abergavenny,
and Hereford

Newry and Enniskillen..
Newry, Warrenpoint, &
Rostrevor

tiorfolk

Do. New 201. shares..
Northern Counties Union'
North British..
North Staffordshire ..
North-Western
North & Sth.-West. June.
Oxford, Worcester and
Wolverhampton.. ..
Scottish Central ..
Scottish Midland
Do. new ..

Rare ws. tft Birm., Clasi A
Do. Class 8.. ..

,crews. & Hereford., Old
Do., do., New ..
Shrewsbury and Chester
(Nor. W. Min.) ..
Do. tialves

I)o. Oswestry
Do. New..

,ihropshire Union

Do., A, B, C, & D, fhlly
paid up at per cent ..
South Devon

South-Eastern
South Wales..
south Yorksh. and River
Dun
gheft., Roth., and Goole,
South Division
Stockton and Hartlepool
Swansea & Loaghor, &c.
raw Vale Extension ..

Thames Eleven seak and,

Railway ..
Vale of Neath • .
Waterford and Kilkenny
Waterford and Limerick,
Waterford, Wex., Wick.
and Dublin • • • •
West Cornwall • •
West London ~
Whitenaven and Farness
York, Newcastle, & Ber-
Ditto and Newcastle
Extension ..

Ditto G.N.E. purchase
York and North Midland

MINES LEAS:

10% tollM

4% -4%

10% - 10%

17U
100

76 -78

11 - it%
1634 - 17%

.. ..
22 —2O dis

2% - 3
2 -2%
6 -6

5 -53

4 -4M
14% - 14%

2& -30
5 - 6
%- 3i

17U 17%
b% —b%
12 —1436

38% - 395
83 -84
14 -14%
78 -80
7% -8% P,

13 4
47%
100

51% —524
11% —1034 d.
8% dia.

1134 - 1234

7 —7%
par % p

94 -95

122 -12234
35 -314 P.
3 - 3%p.
2 -2N p.
82 -83

IN
42%
34

9% s % dia.
7% —6% dis.

a% —3% elm.

2434 - 2534

4 2 0
100

3 —2% dia.
45% 46
19 18%4115.
26 —2B

100
4734

•• ...-0 ••
7% -7%

5 4 die.

17 -19

14 —l3 dis,
3 —2% dis,
65( —6%
..

8... Eqiclis. I
par •h
P

15% 16
15% 16
7% S
6% 7 die,
6 —5% Ms.
b% —4% die.
ZIU, —2% cllB,

all
all
all
1
616

19
9 934
134 1416
% 413-
8)4 3y cl.

14% - 15%
22% - 22%
26% - 26%

16 2-3
au
93

17%
18
all
all

334 235 dis.
4U —4%
9% 10

04 Es.
16 —l5 dis.
• • a.

•• ••

• • .—. .. db.

•• MN= ..

Business done
to-day.

II %

4% %

77
I"'

6% X

14 5( 15

28%
Ohl

1734
5%
12%
38%
845(

1523( 51% 525 k

7% 7

94% 94
122% 122 %
20% 34

die•
46 45% 46%%
lb%

6 %
8% %

18 X

15 u
22 % A

18% 1934
634 6 dis.
3% —334 dia.
18%-19X

18% 19%

rxxxin

6% X
19 18%
irTA.I.B.

t rt. J., tr..' 'Sr , 01-1, 7.11, -p

T U
Tke stales of Cotton at Liverpool yesterday were esti-
mated at 4,000 bales, of which 500 American were taken
for export. The sales comprised 3,000 American, 200
Pernam and Maranbam at 61c1. to lid , 100 Bahia at
61d. to 6V., 100 Egytian at 62d. to 741. and 300 Sarat
at 3d. to 4id. per lb. The market closed flatly, and
American were id. per lb. lower than on Friday last.
Other sorts were without material alteration.—Railway
Shares were exceedingly dull, and at lower prices.
More firmness has been apparent this week in the
markets for Produce, and Sugar has been dearer. A
better demand is expected next week, when a reduction of
duties will take place. Coffee likewise has been some-
what firmer. Tea at the recont decline attracts more
attention, and the trade are dk:ios, d to go into
moderate stock. The stock of Tea is 39,230,000 lbs.
in London, and 12 825,6001b5. in Li.erpuol, against
36.011,000 and 8,600.000 lbs. at the correqonding date
of last year. The deliveries this year have been
25 974 000 lbs. in the two ports named, against
25,181,000 lbs. at the corresponding period of 1850.
The imports have been 47,000,000 lbs. against 31,700,000
lbs. on the 16th of June, 1850. Cotton has been better
supported, and sells steadily. Tallow has been steady.
There are no arrivals with news of any interest. From
Amsterdam, under date of the 25th instant, we are in-
formed that the Stock Market bad not varied. In Spa-
nish Bonds a fair business was done. Dutch Two-and-
a-Half per Cents. were 58k.
The six weeks' average price of Wheat is returned at
395. 4d. per quarter. The number of quarters sold last
week was 92,905 quarters.

There is apparently much ease in the Money Market,
and the feeling is buoyant, so that parties begin to look
forward to a steady improvement in all Securities,
and possibly to greater activity in trade. This, how-
ever, is not a period of the year whe❑ business
in the wholesale departments is expected to be brisk,
though shortly there witl be preparations for the autumn
trade. As to Securities, it is somewhat surprising, that
with money so abundant, and with increasing arrivals
of specie, they have not, in several instances, improved
ere this, instead of being so unwarrantably depressed.
There may be railways which in proportion to their
dividend are sufficiently high, but this is not the case
with all.

The Broomsgrove Bank of Mr. Rufford has suspended
payment, but its liabilities are small. A member of a
large West-end firm has also appeared in the Gazette,
and is understood to be a heavy loser on shares.
The Canada Company had a meeting yesterday, and
declared the usual dividend at the rate of 6 per cent. per
annum, besides having a good surplus. The settlers on
the company's estates are represented to be all doing
well, and iu num-rous cases have paid for their lands
long bef ire the time stipulated.
The Funds are buoyant, and the improvement since
yesterday morning is / per cent. The value of Consols
is 96i to 97k. The Bank returns to appear in the
Gazette this evening will, it is stated, be of a most
satisfsetory character. The New Three-and-a Quarter
per Cents. have realised 981 to 1. and the ThrFe per
Cents. 971 Cu Exchequei-billy have improved ls.,
being 44.. t 475. premium. East India Bunda have
been at 535. to 675. premium.
. . _

The Foreign Securities have been better. Spanish
Five per Cents. have realised 21 to i; and the Coupons
have been done at 81. The Three per Cents. are 401;
Portuguese Four per Cents. have been 331 to 34.
The Mexican Stock is worth 34i to 1. the Chilian
Bonds are at 65. Russian Stock is 113* to 1. Dutch
Two-and-a-Half per Cents. have been at 60 ii. The ac-
count is going off satisfactorily.
Railway Shares are bettor upon the settlement, and
there is an improvement in some instances of 11. to 21.
on the heavy shares, and even of 11. on the lighter de-
scriptions, such as East Lancashire. That shares have
been greatly beared, we still believe.

QUARTER TO THREE.
Consols Shut.
Ditto Account ... 97h. ex div.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( From the I)fficial List.)
8 "er Cant. Reduced 971/196%
New 3,4 per Cent. Alias.
hung Annuities, Exp. Jan. sth, 1860 7% 7 5-16
India Stock
Do. Bonds, 10001 53 p
Ditto under 1.000/
South Sea Stock
Ditto Old Annuities 96%%
Consols tor Account 963k 973(
E4ehAetter Bills. 1),2d
1,000/.
46 41 47 p
Small — 46 44 47 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Chilian Bonds, 6p er Cent
Ditto 3 per Cent

Mexican 80na;3,1846, ex Jan. Coupons ii%
Ditto Account . 3134
Portuguese Bonds, 5 per Cent —
Ditto 4 Der Cont.
Ditto Account
Russian Bonds, 1822, 5 per Cent 11314 ill
Spanish Bonds, 6 per Cent. ......
Ditto for the Account
Ditto, Coupons ...
Spanish Ronds,3 per Cent,l840
Dividends on the above payable in London.
Dutch 214 per Cent., 12 Guild

LLOYD'S SHIPPIN G.—( THIS DAY.)
LONDON, JUNE 27.—Wind at noon S.E., light breeze
and sultry weather.
LOWESTOFT, JUNE 26.—The Jean d'Arc barque, of
Ipswich, grounded upon Corton Sand this morning, and
remains; assistance is alongside.
PILL, JUNE 26.—Wind E.—Sld. Emerald, St. Vin-
cent.

GLOUCESTER, JUNE 25.—Acrd. Catherine Charlotte,
Odessa; Roma, Ancona; Isabella, Barletta.
QUEENSTOWN, JUNE 25.—Wind S. W.—Arrd. Susan,
Meredith, St. John's, New Brunswick; Fernand, Galatz;
Diderich, Trieste; Alida, Leghorn; Liberal, Winner,
Bayonne.
BELFAST, JUNE 25.—Wind W.S.W.—A.rrd. Alfred
Mearix. Galatz; Dawn, Storey, Varney. Sld. Julia ,
Heyn, 44,111beC.
SHIELDS, JUNE 26.—Wind W.—Sld. Dispatch,t
Ce) lon.

YARMOUTH, JIINE 26 —Arrd. Hardwick, Price,
Tarrera; Tempo, Verona, Odessa; Joseph and Ann,
Pool, Dinan.
DEAL, JUNE 26.—Wind S.W. to S.S.W.—Arrd.
Eweretta, Grenada; Sovereign, St. John's, Newfound-
land. Arrd. from the River and aid. Barham, Madras;
Seringapatam, Bombay; Elvarado, New York. Sla.
Cato, St. Vincent.
PLYMOUTH, JUNE 26.—Wind variable.—Sld. States-
man, Adelaide, South Australia; Lady M'Naughten,
ditto; Shah Jehan, Bombay; Lord Petre; Capc of Good
Hope. _

LIVERPOOL, JUNE 26.—Wind S.W.—Arrd. Lucelle,
Demerara; Matthew King, Barbadoes; Theckla, Schmidt,
Maracaibo; E. C. Seranton, New York; J. S. de Wolf,
St. John's, New Brunswick; Hebbert, Buenos Ayres;
Montezuma, New Orleans; Metoka, New Orleans; Fo-
rest King, St. John's, New Brunswick; Birmingham,
Quebec. Sid. Bellona, Port Natal; Cosmopolite, Val-
paraiso; Queen of the Isles, Rio Grande; Lady Bassett,
Brazil; William Bayldy, Rio Janeiro; Red Rose, Rio
Janeiro; Jenny Lind, New York; Thetis, Quebec;
H.atherbell, Montreal; R liance, Montreal. The Hec-
tor, for Malta, waich put in yesterday, alter having been
ashore, is leaky.
DUBLIN, JUNE 25.—Wind W.N.W.—SId. Alice, New
York.

KINGSTON, JUNE 25 —Wind W.S. W.—Arrd. Louisa,
Urquhart, Sr. John's, New Brunswick.
DARTMOUTH, JUNE 26.—Toonochos, from Constanti-
nople to Liverpool, appeared in sight of Barnwash about
eight A.M.yesterday, struck on the St. Patrick Cause-
way, having a Falmouth pilot on board.
PORTSM UTH, JUNE 26.—Wind S.S. W—Arrd. Friend-
ship, Strugnell, Waterford.
COWES, JUNE 26. Wind E.—Arrd. Almade, Matanzas.
FALMOUTH, JUNE 26.—Wind E.—Arrd. Edward Old-
reg. Pernambuco; JuambaLLawrence!_Havannah.
CARDIFF, JUNE 25.-Wind S.S. W. —Arrd Marie
Angie, Ricodel, Nantes. Sid. Red Perke, Hong-Kong;
Theodelbart, Galatz; Jenny, Constantinople.
SWANSEA, JUNE 24.—Arrd.—Ceasra, Valparaiso;
Young Queen, Cuba; Maria, Quebec; Granita, Santana.

MARKET NE W S.-(THIS DAY.)

CORN EXCHANGE-FRIDAY.

A very moderate supply of English Wheat has ar-
rived in the port of London during the present week,
viz., 1;970 quarters. By land-carriage the receipts fresh
up to this morning's market were small, but in excellent
condition. Owing to the pressure of foreign Flour our
millers purchased all kinds of Wheat of home produce
with extreme caution, but wo have no change to notice
in the prices of Monday. Nearly 19,000 quarters of
foreign Wheat have come to hand this week, mostly
from the westward. Selected qualities of both Red and
White sold slowly, at full currencies. In the middling
and inferior parcels exceedingly little was doing. About
12,000 quarters afloat off Falmouth sold at previous rates.
Not a single parcel of English Barley was on show, but
the supply of Foreign amounted to 8,880 quarters. The
Barley trade ruled null, yet prices were supported. Malt,
the arrivals of which were good, moved off slowly, at
late figures. The total supply of Oats was not large,
and a moderate business was transacted at Monday's
decline. Beans, Peas, Indian Corn, and Flour witlaou
alteration.

ARRIVALS THIS WEEK.

Malt.

Oats.

Wheat.

Barley.

Flour

Qra. Qrs. Qrs.
5,040 1Q,3 40 1,780
rs. Racks
English .... •• 1,970
Irish .••• •• •• 1,610
S,BBO — 21,460 7,5" sks
Foreign ••• • • • 18,890 i. 240 bls
_.-------------