The Sun.
London, England, 1856-12-22 00:00:00

THE FAILURE OF MR. LITTLE.

The New York Gerald publishes the following
particulars relative to the failure of the extensive
stockjobber, Mr. Little :
"It seems that Mr. Little was largely abort in
stocks, chiefly in Western Railroad Shares, prob-
ably including a considerable amount of Erie.
There were many rumours regarding the amount
he had sold, some of which were no doubt exag-
gerated. The probability is that the number of
shares which he had sold, short or on time
amounted to about 100,000 or 150,000. We un-
derstand that he offered to settle his contracts at
the prices of stocks yesterday, but announced that
should this proposition be declined, and stocks
should continue to advance, that he would
be unable to fulfil his engagements. We
learn that some of his largest creditors
acceded to his proposition, while others had not
decided how they would act, as they, no doubt,
wished for time to consult their constituents. It
is likely all will come into the measure when it is
considered that Mr. Little has always shown great
liberality towards others over whom he had gained
a similar advantage, and was generally willing to
accept of any differences they were able to pay.
" The intelligence from England by the steamer
of the large arrival of gold from Australia and the
rise in Consols has had its effect on American opera-
tors, and raised the price of stocks at a jump. In
this state of things Mr. Little, doubtless foreseeing
his utter inability to go on, came to a standstill at
once. The consequence of this will be more dis-
tinctly seen in a day or two, and involvements of
other parties, who based their own operations on
the contracts of Mr. Little, must also be extensive
and heavy. At the second board stocks went up
to Thursday's prices, and there are many reasons
why such a result would be struggled for by those
who are to deliver at the present rates. When the
hypothecated stocks are, however, resorted to by
the lenders of money in the street—who hold them
as security—we shall probably then see a consider-
able decline. The great bear disappearing for a
time as a purchaser, the supply will exceed the
demand.

" In 1853 Mr. Little found himself in very much
the same predicament, and settled his differences by
his notes, having 6,12, and 18 months to run. These
were taken up before maturity,and probably the same
measures will be resorted to on this occasion. His
losses are e3tinsated at about 1,000,000 dols., but
his friends appear confident he will be able to re-
spond, whatever the sum may be. All these time
bargains, as our readers are doubtless aware, are
strictly illegal. Their security is that only of the
honour of the contracting parties. It is understood
that Mr. Little continued his ordinary operations
on Friday, notwithstanding his suspension, and
probably in a fortnight's time the whole affair will
blow over. Nothing hut the final conflagration
will put an end to Wall-street speculations and
Wall-street swindles. An ordinary earthquake
would not trouble the operators at all. The failure
in this city was that of a bear—that in Boston of a
bull."

The gold brought by the Persia on Saturday afternoon
is 173,000/.
French vessels are expected to join the English
squedmn in the B ,sphorus.
BISHOP AUCKLAND RAILWAT,—The opening of this
important branch of the IsTerth-Eastern Railway hag
been postponed until the first week in Feb.
The following notice was posted in the Stack Ex.
change on Saturday :—" Great Northern Railway cow.
pany.—Resolved, That transfers of the shares or stocks
of the Great Northern Railway Company, and of those
other companies connected therewith, be verified at the
office of the company previous to the delivery of rte
saine.—G. WEBB, Secretary."
VACANCIES, APPOINTMENTS, AND PROMOTIONSII IN THE
CIVIL SERVICE —Privy Council Office—
Tchief clerk has become vacant by the death of eM office
Jceoh ofn
Barrett Lennard. The Admiralty--The( ffioe of medi-
cal inspector' at the Royal Naval Reapital Hadar, has
become vacant by the death of Dr. NV
Penfold, late agent at Therapia, hawna' Lindsay. Mr.
chief clerk to the Royal Naval Hospital,f been appointed
in the room of Mr. Millman, deceased at Devonport,
Legal D:partment—
- mastership in the Court (4
; salary, 3001.
..et
Queen's Bench has become
R,chard Goodrich. Poor Law
by the death of Mr.
Geo. W. Burrow and Mr. Law Department— M.
promoted from the Thomas Harries has beta
of the second cries. Janior to the senior divisi,u
Bank of England—A vacancy its
the chief accountant'of Mr. Josias R. s\"ffiett has been caused by the death
Woodford. Customs—Mr. J. H.
Gendle has been promoted from second to first-c'a 8
clerk in the Ea,t, and West India Docks, London. Mr.
.M. Irving hat, been promoted from third to senor d
cla,s c
lerk in the Docks, London.
MG. Peel has East and West India
been promoted from third to eecord
class clerk in the East -India Docks, London.
Mr, R. pa e East and Vest
third rtridge has Leen promoted from fourth to
class clerk in and West India Docks,
the East
London. Jamaica—A puisne judgeship of the Supren.•
Court has become vacant by the death of Mr. F. Lewis.
—Civil Service Gazette.
CANDLES FROM IRISH PEAT.--it will be r3raembered
that iu 1854 Dr. Sullivan, the chemist to the Museum
of Irish Industry, made a careful it.spection of the works
of the Irish Peat Cemp my at Kilberry, and published
an elaborate report upon the products of the destructive
distillation of peat. In that report, .tt was stated that a
proposition had been made for preparing paraffine from
hich was one of the resulting products, and
the tar, w
for obtaining from the aqueous liquor naphtha sulphate
of ammonia, and acetate of lime. In the separation
and purification of these products heat would naturally
play a very important part, and a considerable
quantity of fuel would be required, but by a
very happy arrangement the fuel would he
supplied by the gases which would otherwise be wasted.
These waste gases it was proposed to employ as tike a° 1e
cylinders fuel for raising steam to work the blowing for
distilling the tar, in the purification of the oils and
fine, and in the separation of the other products. IParlif'
t was
anticipated that the paraffine could he advantageously
used as a substitute for spermaceti iu the manufacture of
candles, and a number of marketable oils. So far as re-
gards the manufacture of candles considerable difficulties
were experienced in obtaining the
requisite amount of
whiteners and transparency,
messrs.Fiod
succeeded in overcoming all ebetacl , however, have
succeeded and were enabledve
at the recent meeting of the
Irish
Peat Company to ex-
hibit candles made from the paraffine produced by that
company, which had every appearance most supe-
rior sperm, whilst it is believer]
theyof the
anbemanufac.
manufac-
tured at a much lower price. The paraffins can
oil,
which ap-
. pears to be solid paraffine dissolved in isomeric oil, is a
highlyt valuable lubricator for machinery, and is coming
into
extensive use in the manufacturing districts.—
i Mining Journal.