The Sun.
London, England, 1856-09-25 00:00:00

LONDON, THUESDAY EVENING, SEP

ANNOUNCEMENT.—By the investment of a
small sum, even as low as 21. 10s., thousands of pounds may
be,obtained.—Apply by letter for particalars (which will be sent
poit free) to Messrs. Smans and Co., No. 32, Villiers-st., Strand.

GREAT WESTERN RAILWAY of CANADA,
—This property Is worth much more than its pre,cnt price,
dividends of 8 per cent. having bean paid for the last two years. The
traffic is beyond the most sanguine calculations, and .is increasing
week by week (see the last returns). The in nutzeinent Is with cm-
tidal( n of the highest character in Loudon, who have wisely decided
to h,ve no ',ranches to swallow up the increasing revenue. Thus it
is lt•xpeeted this property will certainly yield 10 per cent.
Xiverpool, Sept. 20, 1836. AN ORIGINAL SHAREHOLDER.

APPETITE AND DIGESTION IMPROVED.
ir EA and PERRINS' WORCESTERSHIRE
L. 4 SAUCE imparts the most exquisite relish to Steaks, Chops.
sod all Roast Meat Gravies, Fish, Came, Soup, Curries, and Salad,
and by its tonic and invigorating properties enables the stomach to
,erfectly digest the food.

The daily use of this aromatic and delicious Sauce is the best safe
ward to health.

Sold by the proprietors, Lea and P3rrins, 19, Fenchurch-street,
London, and 68, Broad-street, Worcester; r: so by Messrs. Barclay
indiSons, Messrs. Crosse and Blackwell, and other oilmen and men
;hants, London ; and generally by the principal dealers in sauce.
N.B.—To guard against imitations, see that the names of "LEA
and PERIUNS" are upon the label and patent cap of the bottle.

COMMERCIAL BANK of LONDON,
LoCkbury, and 6, Henrietta-street, Covent-garden.
Subscribed Capital, 1,500,0601.
Paid •up Capital, 300,000/,
Guarantee Fund, 71,0001.
DIRECTORS.
MARK BUNTER, Esq., Chairman.
JOHN SAVAGE, Esq., Deputy-Chairman.
Charles Butler, Esq. William Jackson, Esq., M.P.
Edward gillingfleet Cayley, Edward Oxenford, Esq.
Esq., M.P. Sir Joseph Paxton, M.P.
John Alfred Chowne, Esq. Robert Stacey Price, Esq.
George Clive, Esq. Joseph Thompson, Esq.
William Cooper, Esq. Joseph Underwood, Esq.
Charles Hill, Esq. Thomas Winkworth, Esq.
Jonathan Hopkinson, Esq.
Accounts of parties received and kept on the plan generally adopted
by London Bankers.
Parties having current accounts with this Bank have the advan-
tage of transferring any surplus balance to a deposit account bearing
interest ; and sums of money are received on deposit from parties not
keeping current accounts. The rate of interest allowed is I per cent.
under the minimum rate 9f discount of 'he Bank of England, the
deposit being subject to 10,days' notice of withdrawal.
The agency of country and foreign banks undertaken on such
terms as nay be agreed upon. Purchases and sales of British and
Foreign Securities, &c., effected, dividends received, and every
description of banking business transacted.
Letters of Credit are granted on the principal cities and towns in
Europe and elsewhere.

A. R. CUTBILL, Manager.

FLUCTUATIONS OF JOINT-STOCK
BAIVKS.

After recent occurrences any great fluctuations
in the prices of the shares of joint-stock banks ex-
cite anxious attention. During the fortnight pre-
ceding the stoppage of the Royal British Bank the
shares of that concern declined day by day until
from 501. they had descended to 201. Subsequently
the London and Paris Bank, whose shares with
301. paid were at 81. discount, have found it expe-
dient to abandon their project, and to prevent by
returning the subscriptions received a continuance
of tLe apparent loss which their shareholders were
thus far sustaining merely from the effects of pre-
judice. By this timely act of prudence each holder
of a share, instead of having to reckon at market
price a loss of 81., will almost immediately get back
the whole he has paid, less a deduction, perhaps,
of 1/. or 21. for expenses. In the case all bank-
ing institutions the current prices of the shares
form the most important point to which the public
should be encouraged to direct their attention.
It constitutes, in fact, the only general admoni-
tion that can be furnished, since such is the sen-
sitiveness of credit that no persons can venture
to publish even a hint to induce caution without
incurring the danger of ruining an establishment
that may possibly have been perfectly sound, or
of having precipitated a calamity that might
otherwise, by private efforts, have been averted.
Let the fluctuations in the daily list therefore be
always a subject of open discussion. In every
honest concern the directors and managers will
recognise its value equally with the shareholders,
since it will enable them to explain accidents or
to correct misapprehensions. Assuming this prin-
ciple to be 'conceded, attention should be called
to the position of two banks lately started under
the most favourable auspices namely, the
Ottoman Bank and the Bank of Egypt. They
both possess charters of limited liability, their
boards of direction aro unexceptionable, comprising
persons of great wealth, reputation, and experience,
and they have obtained not merely all the counte-
nance that could legitimately bo afforded them by
their own Government, but also the requisite sanc-
tions from the authorities of the empire in which
they are to be carried on. The capital of the
Ottoman Bank is 500,0001., in 201. shares, on which
101. has been paid, and which at their first intro-
duction commanded a premium of between 21. and
31. The capital of the Bank of Egypt is 250,0001.,
in 251. shares, with 121. 10s. paid, which at one
time attained a premium of about V. In the official
list the former are now quoted as saleable only at
2i discount, and the latter at 3f discount. Neither
of them have been in operation more than three or
four months, but these prices show a depreciation
as if in each case about one-fourth of the paid-up
capital had been already lost, while, as compared
with the quotations current shortly after the issue
of the shares, the fall is equal to more than 40 per
cent. The question under such circumstances is,
should not some explanation be either sought or
volunteered ? Supposing anything to be known
by private individuals to warrant this distrust, the
shareholders should devise means to extract the
information for their common protection. If in
four months losses or discouragements have been
sustained to justify the existing quotations, the
sooner each concern is wound up the better.
At present nothing is publicly known to the
disadvantage of either. Active intrigues and
the circulation of false reports by the money-
dealers at Constantinople, and Alexandria, whose
profits were likely to be checked by the intro-
duction of any regular system of public banking,
wanetriec,ipat
of course,
from the commencement,
ourse,to beencountered,bu
and
tthese werecan
scarcely, therefore, have exercised any influence.
Neither can the fact that further calls of capital
are being made suffice to throw light upon the
matter, since there is nothing in the character of
the proprietary, in the amount required, or in the
state of the money-market, to create the idea that
these could cause inconvenience ; while, at the
same time, it is to be remembered that a bank in
sound condition is not supposed to make calls for
any other reason than an increasing ability to em-
ploy money with greater safety and profit than the
shareholders could hope for in other ways. The
secret of the decline, consequently, still remains to
be revealed. If, instead of being called together
only annually, the proprietors in such undertakings
were to meet, as such should be the case, at least
every quarter, there would be no necessity for sug-
gesting intermediate statements ; but, inasmuch as
no prudent person would be content in any ordi-
nary business to part with his capital on condition
that he should inquire about it only once a-year,
there can be little question that in the present sure
something of the kind is necessary. It is due, in-
deed, to the general public, no less than to the
shareholders, since projects for the investment of
capital in Turkey and Egypt are now numerous,
and it is impossible to conceive that, if the expe-
rience of legitimate banking has been disastrous to
the extent to be inferred from the present indica-
tions in the London share-market, there are not
radical peculiarities both in the Government and
people which should cause all financial enterprises
in these countries to be regarded with the greatest
hesitation.—Times City .Article.

THE ALDERMANIO GOWN OP COLEMAN-STREET WARD.
—Yesterday a meeting of the inhabitants of this ward
was held at the ward-room, London-wall, for the purpose
of agreeing to a requisition to Mr. Deputy Hale to ac-
cept the office of alderman of the ward, rendered vacant
by the death of Alderman Hunter. Mr. J. B. Heath,
a past director of the Bank of England, was unani-
mously called to the chair. Mr. J. H. Palmer moved
the following resolution :—" That the distinguished
position of alderman of the ward having become vacant
by the decease of William Hunter, Esq., a requisition
be addrassed by the inhabitants to Warren Storms
Hale, Esq., the deputy of the ward, soliciting him to
stand forward as the future alderman ; and that the same
be presented to Mr. Deputy Hale, with the anxious
hope of this meeting that he will allow himself to be put
in nomination." The resolution was carried unani-
mously amid acclamations. It was also resolved that
the•gentlemen present should constitute a committee to '
carry out the election of Mr. Deputy Hale. A unani-
mous vote of thanks was passed to Mr. Heath for his
courtesy in taking the chair, and the meeting separated.
THE NEW BISHOPS.—As we have had much pleasure in
awarding praise to Lord Palmerston for the last 8 or 4
appointments made by him to high offices in the Church,
it is with grief and disappointment that we look forward
to the next announcement. We fear, from certain ru-
mours which have reached us, that a venerable noble-
man, the Nestor of the Cabinet, has latterly exerted his
influence, and that the expected appointment to the see
of Ripon will be that of a gentleman who, however re-
spectable in other capacities, cannot be described as pos-
sessing any of those qualifications which are naturally
expected in one raised to such an o ffice. We will not
indicate the individual, because, as ha the case of Mr.
Trench, rumour may have gone beychad the fact. Should,
however, the report which wo have beard prove correct.
the disappointment of nearly all sect ions of the Church
will be great ; and the nomination will deprive the
Premier of much of the popularity which naturally ac
crued from his selection of such men, as Dr. Baring and
Dr. Tait.—.llfornino Houk&

THE CUSTOMS CONGRESS.

(From the Daily News.)
BRUSSELS, SEPT. 23.
The President of the Belgian Free Trade Asso-
ciation entertained the members of the Congress at
a soiree at his residence, Rue de l'Ecuyer, last
evening, when a numerous party attended. The
affair was one of a purely complimentary nature.
The members, who have free entrée to the Museum
of Paintins, the Botanical Gtirdeas, the Armoury,
and other public places, have eagerly availed them-
selves of their privilege, and tertaiely their heavy
!abours in preparing papers to be read at the Con-
gress, or in puzzling over attpalling columns of
figures stated in hectolitres; kilogrammes, and
other strange measures of "Weight, length, capa-
city, or value," entitle them :to unbend a little in
their rare moments of leisure, between the general
seances, sectional meetings, and other committee
work. Until to-day, however, the weather has been
' very unfavourable for out-door recreation ; and
the earlier corners, who flattered themselves that
they would have ample opportunity to inspect the
" lions" of the place before settling themselves
down to earnest business, had begun to ask rue-
, fully whether it rained always in Brussels. Little
consolation is obtained from the native Job's com-
forters, who meet all querulous remarks with the
matter-of-fact rejoinder of the citizen, " Oui,
messieurs, la Belgique, c'est un pays ti es humide l"
But an auspicious change has at length taken
place, which is particularly fortunate, as this,
was the opening day of the national fetes to
celebrate the anniversary of the achievement
of Belgian independence. The citizens re-
gard these ceremonies with great interest, andeven
with enthusiasm ; yet their abandon in the midst of
the general rejoicings doesnot much prejudice their
devotion to the " main chance." The hotels and
the shopkeepers are reaping a rich harvest from the
great influx of strangers drawn from far and near
to attend the various conferences and exhibitions
of which Brussels has lately been the scene, as well
as to witness the national festivities, which are, of
course, conducted on thegrandest scale in the capi-
tal. One peculiar trait in the Bruxellian character
strikes most of the visitors from other countries—
namely, their sheer incapacity to comprehend the
value of foreign money, which they are perversely
prone to depreciate. The fetes begin to-day, and
will extend to the 26th. The ceremonies for the
first day comprised solemn funeral services iu the
morning at the churches of St. Michael(the patron
saint of Brussels) and St. Gudule, in honour of the
citizens who fell in the cause of their country during
the revolution ; a distribution of medals at the
Temple des Augustins at noon, in reward for acts
of courage and devotion ; and in the evening a
grand military retraite round the park, in which
the bands, trumpeters, and drummers of the army
and the civic guard took very active, if not very
prominent, parts.
All the public buildings and many of the private
houses wore gaily decoratel with flags and other
symbols of rejoicing ; and throughout the day the
places and streets were crowded with sight-seers in
their best holiday attire. The tariff of the enter-
prising fraternity who hawk the official programme
of the fates undergoes great fluctuations ; yester-
day the price was ten centimes per copy, to-day it
has fallen to five centimes for a Belgian purchaser
and ten centimes for an English one.

The several sections met in the committee rooms
adjoining the principal place of meeting this morn-
ing, when reports, statistical tables, and other docu-
ments poured in liken flood upon the vice-presidents.
The committees were engaged in classifying and ex-
amining these papers until the hour arrived for the
agizregate meeting.
The Congress re assembled at 1 o'clock to day at
the Hotel de Ville ; M. de Brouckere again pre-
siding. Among the new arrivals were Mr. Schole-
field, M.P., and delegate from the Birmingham.
Chamber of Commerce, who presented to the Con-
gress a tabulated statement exhibiting the approxi-
mate tariffs of various European and American na-
tions. The minutes of the previous sitting having
been read and confirmed, letters were read from
absent adherents, and among others from M. Dela-
martine, members of the Chamber of Commerce of
Lyons, Montpellier, Bordeaux, and Manchester
(Mr. Boothman), M. Chevalier, Councillor of State
(Herault), the Lord Mayor of London, and le Duo
d'Harcourt. Groups of elegantly-dressed ladies
occupied a series of small galleries ranged like
opera boxes along one side of the hall, and ap-
peared to manifest considerable interest in the pro-
ceedings. The series of questions previously drawn
up to guide the deliberations of the Congress has
been subjected to revision, and the following order
of the day has been formulated, the better to de-
fine the limits within which the speakers are to
confine themselves :

1. Explanation of the reforms effected in different
countries during the last 10 years ?progress of public
opinion ; results attained.
2. Examination of the obstacles which obstruct the
extension of international commercial relations in each
country. Evils consequent upon those obstacles.
3. Examination of the means proposed, or to be pro.
posed, for removing or mitigating the obstacles to Cus-
toms reform, and also of the best mode of achieving such
reform. Resolutions submitted to the Congress.

4. Criticism of the objections (especially those that are
new, if there be any such) offarad to Customs reform,
and o,tensibly derived from the principles of justice and
of political economy, or from a regard for the respective
interests of nations, of the working classes, of the pro-
tected branches of industry, and of the public revenue.
The first speaker called upon was M. SCIALOJ A.,
delegate from Sardinia, who was received with ap-
plause. He said that the people of Piedmont had
been enabled to devote themselves to commercial
pursuits with an energy which their free institu-
tions alone could impart. Describing the bene-
ficial results that had sprung from their commer-
cial treaties with Belgium and other countries, he
quoted official figures to prove that the reduction
of Customs' imposts and differential duties within
the last few years had alike benefited native in-
dustry and increased the public revenue. The re-
missions extended to many articles of commerce
amounted to from 70 to SO per cent. ; and, not-
withstanding the total abolition of the taxation on
corn and cereals in 1847 and 1843, the public
treasury fully retained its previous receipts. The
withdrawal of artificial protection from the paper
manufactures of Svrdinia had proved. most salutary.
These tariff reforms had greatly ameliorated the
condition of the working classes, as was evidenced
by the increased consumption of articles of sub-
sistence and wearing apparel, their improved dwel-
lings, and their advanced education. Subsidiary
reforms must, however. be combined with an irn.
proved system of tariffs to give proper effect to
commercial and industrial freedom. Other abuses
required to be swept away ; the facilities offered to
commerce at various seaports must be increased ;
the diffusion of knowledge among the popuisstion
demanded the earnest care of every Government •
and he was glad to say the honest and enlightened
Monarch who now reigned in Piedmont was de-
termined to persevere diligently in the promotion
of these important objects. His people had al-
ready tasted the sweets of liberty, and in concert
with their rulers they were bent on developing to
the utmost the industrial, moral, intellectual, and
political interests of the country. (Loud applause.)
M. le Comte ABUIVABBNE (Tuscany) observed
that his country was the first to proclaim the free-
presented on behalf of the
dom of commerce, and
Societe Geographile of Florence a paper detailing
the history of commercial legislation in Tuscany,
together with their views of the principles which
ought to regulate the intercourse cf nations.
M. CIARNIIR (Paris) remarked that free trade
principles had scarcely begun to be understood in
France 10 years ago, their progress being totally
arrested by the revolution of 1845. The Provi-
sional Government, although professing Liberal
doctrines, shrank from proposing the admission,
free of duty, of the primary articles of subsistence.
The Constituent Assembly effected nothing in the
shape of Customs reform. When M. de Beusse
moved a measure of radical reform in the French
tariff the proposition was rejected, having been
resisted by M. Thiers, in an oration which was one
tissue of the grossest economical fallacies. The
Ministry of 1852 brought forward several impor-
tant reforms, and cattle were admitted free from
imposts. Many other articles were admitted at
nominal rates, to the great advantage of the hum-
bler classes. A project had been submitted to the
Corps Legislatif for the removal of all prohibitory
duties ; and, without being too sanguine, it was
hoped that the body would be induced by the ex-
ample, influence, and experience of England to
make a move in the right direction. The advo-
cates of freo trade were steadily increasing in
France. The entire press regarded it favourably,
the manufacturing and commercial classes were
awakening to its advantages, and even the agricul-
tural interest, ever slow to recognise what really
~ended to their benefit, were beginning to look
upon it with diminished distrust. The practical
adoption of such reforms were, however, obsti-
nately resisted by ss small, yet compact, fac-
tion, who clung wit invingible tenacity to ab-
,