The Sun.
London, England, 1860-12-31 00:00:00

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(.8-onz the 3.loney ilfaiket Review.)
If the world expected some new and ingenious
methods of deluding the moneyed public to be de•
veloped in tho examination. of the partners 'in the
leather house of Streatfeild, Laurence, and Mufti,-
more, they muat
.have lwen signally disappointed.
The system of "accommodation bills"—the • system
of propping up houses which appear to have mainly
exiAted for the purpose of being drawn upon—and
most. of the other features of the case have been
already reproduced a great dealt deal too often in
the Bankruptey
Court. At the same time it must
be conceded that Messrs. Streatfeild pushed the
system.. to its very furthest • limit. If they fail to
'.
have originated any new plan of tactics, they haVe
taken the
fullest advantage of those already in.
existence. The case,_indec;a: owes all its import-
ance to the mageitteie Of the business carried on.
Little traders have previously acted much ie. the
same way, although, it -must be owned, with far
inferior " financial ability," but haVe called for
merely an occasional passing notice. Here, how-
ever, the lie; bilks are reckoned by hundreds of thou-
sands, and the creditors comprise some of the best
and wariest-then of business in the kingdom. A
corresponding sensation has, therefore,
all over the country, and the proceedings up to then present moment have bee watched with unflagging
interest. been caused

iILICE 4D STAMPED, r
•

£108,500 transmitted by the Europa, and followed by other
amounts, which before the end of.the year raiad the aggre-
gate to nearly £2,000,000. _ _

Dec. s.—News of the suspension of most of at!, banks in
the Southern States of America.

Dee. 7.—News of combination amoP.74 the New York
banks for mutual support.

meat of X 173,000 belonging
Dec. 9.—News of the robbery ):,y the Mexican Govern-
deposited under the seal oc
the British Legation.
Dec. 12.
-- - f
utile': sum of £1,500,001) East Indian 5 per
fr., the English bondholders,
cent. railway dehiLiatures for five years offered at par.
Prospectus !issued by M. Mires, of Paris, of New Turkish
Six per Cent. Loan of £16,000,000, of which £5,000,000 is
offered for subscription in London at a price equal to 59t.
List to be closed Jan. 5, 1861.
Dec. 15.—Intelligence of the crossing of the Australian
continent from south to north having been completed by
Mr. Stuart, of Adelaide.
Dec. 17,—News of the Treaty of Peace with China. In-
demnity £2,900,000.
Dec. 21.-450,000 4 per Cent. Jamaica Bondi guaranteed
by the Home Government, subscribed at 105. Abolition of
the
Passport system in France as regards English subjects.
Dec 31,—Bank bullion £12,798,119, being the lowest
point of the year, and showing a reduction of £3,662,705
from the total held at the commencement. Consols, 92j.
Annexed is a hat of the new companies brought
forward in 180:—.

Actual or estimated

Church and Son, frultmerchantaureti
1. 10,'95 I
Tucker and SALlAuViriniaMP. Co.,
J. H. Cohn, East India merchant.. • .
E. J. Wheeler and Co 9Australian
merchants ...
,__ _. . • • 1
Smythe, Searle, and Co. de• . 1.7,630 ' 5 159
IlitPriP6iltliantialeniabriell kan.ndsedal6n'COir.eg•
,a dt.h.itiot: itrad .11.-Z,, .. i 6aD,
. :D.:2 1
1,ti0i:1,0t,;;05124
1:3175:::,.: _
...: .
...t11:1414:::27:8,1.
50/
Streatfeild and Co., ditto... . . ... ... 744,448,...214,6t,4
J. H. Smith and Co.; ditto i.. .. 168,306;... 47,074
Smith and Patient, ditto 207,138.... 37,097
A.. Waring, ditto
T. H. Mortis foie, ditto ... -
Gibson ail Co., clitto•
H. Hacker, ditto
W. C. Mundy and Co; ditto. 59,918.... 33,168 .
Ridley and Sons, ditto, ....'„
Rider and CO. ditto...? . ' . -
D. Barclay and Sens, ditto. 7,957.... 3,878
It. Mortimer° ditte. '' ' .
Laurence, Mortimore,,and_Co., ditto 300,000.... '
Joseph Hooper, ditto
Daniel Carpenter, ditto ' .....
D. and 4. Mackintosh, ditto ~.. .. ..; 10,664.... 8,201
W. A. Pa,ge ditto 6,500.... 3,5801
.J. Baker, ditto • ....
Thomas Randall, ditto..
W. J. Armstrong, ditto
J. G. Sullivan, ditto -
John Morris, ditto 8,335.... ' 4,665
E. Bitvelbt,• ditto: '. o" „ „•. 57,790.... 10,290
R. and J. Clarke, ditto • 66,663.... 13,913
Helling and-Yeoman contractors .... 15,132.... 11,000
Mouat;Nickisson, and Co., lace mer-
chants . 53,612.... 48,869
J
E. M; Abliott, breivei
J Reinschran4 90.J_Purchants 26,424... 12,865
Tilley and • Co., Manchester ware-
22,910.... 6,157 ,
housemen
Chicken,and„c 0., ditto - ."-.
.:.16;011
Smith; Sinclair, a±id Co., linen factors 43,553...
S. J. Wood, cetnent manufacturer..... 9,202.... 3,590
A. W. Simpson, East India merchant 6,493.... 6,075
Peter Brown carpet warehouseman 27,762.... 21,408
Walter Howell and Co., distillers ..,... 38,963.... 13,235
William Archer and Son, corntactore 35,687.... 15,1301
Thomas Nokes, miller .... • . .... ;
,
,•Smith and Co., distillers
Alexander Allan, miller '' !'. 16,785.: .. 9,369'
H. Btookes and Co., manufacturer of
p 40,00(1.... 30,000
pianoforte actions
F.vanS- BrOthers, builders. and con-
contractors • 41,424.... 24,911
Robert Db.vieSand Co.,'bankers 140,000.... -
J. and E. Willienes„sugar. ageuts 42,281.. 31,485
W. H. .Rowe contractor ~
I
Witliira Meildii; ditto .. '... '
ThOw.a Piper rd Son,, builders... ‘ 52,236.... 15,617
nry Bateman;tirdber merchant... ; 55,4134... 10,774
pldsarcirth.atuleit.,•. wiz refiners 20;006 : ... - •
:SI. Schioder, ditto - 21;103.•-• .' 10,715
1:,),9 ge ancl„Gjandonati, American
cloth linattufactuterft;;- " - 40,000 .. .. -
!John,,Eadett, tirebefi poi:chant.... . 45,000.... -
',.,,Tha,above represent a capital of £17,230,000,
.a bait'tiambei• or *the= halt been withdrawn, coin-
'prising:ae lealat one-fburth of the total. . - •
Tne..followin • list comprises• most, of the firms,
,iFhose &nine has been announced during the year
`it Londonc or iu .direci'oOiinetion with London:
They.. xepresento dobto to', the large total of
.2,574,641, but are - so.: limited a few i distinct
1 branches ortrade aii to alio I_llusi..
nowt of the country has been remaila ly free from
disaster. Thus, out of 59 houses 26 belong to the
leather trade, and seven to the building or timber
trades. It is also a feature for notice that many of
the stoppages are for relatively small amounts, and
it may be surmised that the moderate character of
the mischief in these cases is mainly, to be attri-
buted to the diminution in the power of floating
questionable paper which has resulted from the
Bank of England in compelling the various mqney
establishments to rely upon their legitimate means,
and not upon facilities of re-discount. The assets
of the several firms in the list show an average
dividend of about 7s. 6d. in the pound, subject to
expenses of collection :- .
Company. Capital.
Anglo-Spanish Mining Company .. .. L 375,000
Algerian Railway.. .. .. .. .. 2,200,000
Brighton Hotel .. .. .. • • .. 75,000
Bahia Gas .. • • 100,000
Buenos Ayres Railway .. .. .. . • 150,000
Bury Port Coal and Ironstone .. .. • . 40,000
Bank of Turkey .. • . .. .. .. 1,000,000
Central American Piers .. .. • . .. 115,000
Croydon Sewage .• • . • • • • • 30,000
Cardiff and Caerphilly Iron 100 000
250,000
Coventry Cotton Spinning .. .. ..
Cwm Ammon Anthracite Coal .. .. „ 50,000
Dock Warrants Advance and Discount - 200,000
East India and London Shipping • • .. 300,0( 0
Folkestone West Cliff Hotel • • • • • • 60,000
ha ....
Glocester Wagon ... .. ' .. .. • • 160 000
General Mining and Smelting of Maurienne .. 100,000
Gas Engineering and General Ironworks .. 30,000
Great Northern Palace • • • • • • • • 600,000
se: :: :.. ..... 400,000
: : : : : : : : 821:5-0: 700040
inGGireitiemlllaliotvvvaKaryeaaansnta•Dw.Toecak : :
Isle of Wight Railway .. ~ „. .. 175,000
King's .cross Patent Wheel „ .. .. 50,000
London and South African Bank .. .. 400,000
Lao maze Sulphur ;4,, .. .. .. .. 30 000
,
Labuan Coal .. .. ~ ~ .. 100,000
Lantrisseat Hematite .. • • • • II • 150,000
London Brewery .. „ .. .. .. 600000
Muswell-hill Land .. .. .. .. 140,000
Maesteg Iron and Coal .. • . .. .. 60,000
Moseley-green Coal and Coke .. .. .. 75,000000
Blirkside Pig Iron •,. •• •• •• 30,
Mercantile Bank of St. Peterburg .4, .. 2,000,000
Nerbudda Coal .. • • • • • • • • 120,000
Oriental and Colonial Fibres 100,000
000
Parsonstown Railway •• •• .• •• 65,
Portugal Land .. .. .. • • .. 75,000
Pneumatic Despatch - •• •• •• 25,000
Queen's Hotel . • .. • • .. 650, • . 50,000
000
Regent's C • anal Railway • ••• ••
Respryn Copper .. .. • . • . • • 25,000
Rio Drainage • • • • • . .. .. 650,000
South Eastern of Portugal Railway .. .. 750,000
St. Helier Water .... .. .. .. 40,000
South Devon Marine Hotel .. .. • 60,000
Santa Elena Mining .. .. .. .. 30,000
Thames and Mersey Marine Insurance .. 2,000,000
Thessalian Mining • • .. .. .. 100,000
Turkish Bath .. .. .. . • .. 100,000
United Kingdom Electric Telegraph .. .. 150,000
' Lime Light .. .. .. .. 300,000

TILE' BRITISII ARMY AZ' PEKIN.

The following is the distribution of the Expedi-
tionary Army which has been determined on,

should nothing occur to render alterations neces-
sary :

roofs to remain for the present in China :
At Tien-tsin—The..3lst, 60th, and 67th Regi-
ments, Govan and Desborough batteries, Bth and
10th Companies of Royal Engineers, Fane's Horse
(300) strong. The Military Train—Commissariat
Staff and Army Hospital Corps.
At Taku—One half of Pennycuick's Battery, •
and one wing of a regiment in garrison at Tien-
tsin.

At Shanghai—One native regiment and Penny-
cuick's battery ; native regiment not yet detailed.
At Hong Kong and Kowloon—The 44th Regi-
ment, and Bedding's field battery, with detachment
of Engineers, Army Hospital, and Commissariat
Staff Corps ; probably the Bth Company, also, of
Royal Engineers.

At Canton--The 99th Regiment and Twin's
battery.
To leave China for England :

The Ist, 2d, 3d, and 87th Regiments. As regards
the disposition of the general body of the Indian
troops nothing positive is yet known, but it is be-
lieved that the most of them will be sent back im.
mediately to India. The 23d Company of Royal
Engineers returns to England, as does Barry's,
Miliward's, and Rottou's batteries. Sterling's
battery returns to India. The Armstrong guns of
Miliward's battery are to be handed over to Govan's
battery, which in future will be an Armstrong one.
The troops are reported to have suffered a good
deal from diarrhoea, and sick in considerable num-
berstransmis-
sion to the hospital ships off the Peiho, on board of
have been received at
which, at present there are over 500 sick.
same number at our other ()stab! There 18
an extensive hospital establishment at Tien-bin'
where there are now about 100 sick, no about the
Tien-tsin for
the town. The
Tien-tsin forts, three miles from
not been great;
.
mortality, however, in the army has
Prevailed not being
the form of disease which has
of a malignant type. Dysentery has been one of
the most common ailm„to, and a low form of fever
also has been rather p oaient. .
hospital shi
establishment on the
and
tins
The Melbourne
proceed immediately go to Hong Kong,—•
Witch
Peel and Lancashire 7
ino rekgrap L.
London and Ch a#. the Cape. Sir William

Universal _ Al A_
Union Discount .. ..
Whale and Seal Fishing
Wheal Ellen Mining ..
Westminster Chambers .. ..
Winter Palace and Yacht Hotel

250,000
75,000
60,000
130,000
40,000

LORD J. RUSSELL AND THE ITALIAN
QUESTION.

An address, signed by nearly 5,000 persons, in-
cluding the Lord Provost and the members of Par-
liament for the city of Glasgow, having been for-
warded to Lord J. Russell, her Majesty's Secretary
eguisdend,
of State for Foreign Affairs, complimenting his
lordship and the Government for the conduct which
had been pursued by them in relation to the affairs
of Italy, has called forth from his lordship the
fol-
lowing reply, viz.:—
Foreign Office, Dec. 26, 1860.
Sir,—l have received with great satisfaction the
address of nearly 5,000 of the inhabitants of Glas-
gow, including the Lord Provost and the members
opewnfohlrPiitgcahi wilithhieaineeremh enlightened city
ate
jitetfhysotu ryost,fshgGGeilvocaveistn Government
by
wmf Glasgow.
have
to the principless by
been Tnhe n
the flourishing mid'
and the policy which they have announced, cannot
fail to give encouragement and add
strength to the
just cause they have espoused. I beg you to accept
my cordial thanks for your letter the
accompanying
address, and have the honour to be, sir, your most
obedient servant,

TRIAL FOR MURDER IN SCOTLAND.

At the Glasgow Circuit Court, before Lord Ivory,
on Thursday, Patrick Lunnay was charged with the
crime of murder, he having on the evening of
sralturday, 10th, or Sunday, 11th of November last,
in or near Bank-street, Alexandria, attacked and
assaulted James Cassidy, shoemaker, residing in
Bank-street, and with a knife stabbed and cut him
14 times on the breast and chest and stomach,
whereby ho was mortally injured, and immediately
afterwards died, The jury returned a unanimous
verdict of guilty of murder, with a unanimous and
strong recommendation to mercy, on the ground of
passion, having received strong provocation from
the deceased, and of this being the first crime of
which he had been found guilty. The judge pro-
nounced sentence of death, to be carried into
execution at Dumbarton on the 18th of January.

J. RUSSELL.

CRYSTAL PALACE.—Saturday was
-------__
announced
as a juvenile day at the Palace, and greater numbers than
usual were present to enjoy the revelries of the shadow pan-
tomime and the other entertainments so plenteously pro-
vided. After the pantomime the Palace was brilliantly
lighted up for the evening promenade. The whole of the
i amusements will be eontiauod this dabanda 4Ting tilt
i week.

An additional mail will for the future be for.
warded to Cuba by the West India packoto, leavin4 Soutip.
ounpton on the 17th of each mouth.

While the case is still pending before the Com-
missioner we have no right to hazard any observa-
tions respecting the mode in which such transac-
tions ought to be legally dealt with ; but there are
several noticeable points worthy of comment about
which no dispute can arise. • The most prominent
of these is the singular success of Messrs. Streat-
feild and Co. is getting discount. They were
removed from the ordinary lot of traders who have
to seek for " channels" of accommodation, the
moneyed world being proud to save them the trouble
by offering unlimited " channels" on their own
account. It is true that if it had been ge.neislly
.0
known that Messrs. Streatfeild were distributing
their favours so widely each individual house would
probaNy have been rather shy of taking its share.
But it can hardly be imputed to the banks or dip
count establishments that this ignorance of , the
true state of matters arose from their own negli-
gence. In some quarters there appears a desire to
heap accumulated wrath upon the heads of those
who are accused of wantonly giving extraordinary
" facilities" t')undue speculation. Who these
people may be would be a puzzle to discover. ...Mr.
Marshall, the manager of the Bank of London,
enunciated an obvious truth when he. said that it
is not. the business of a bank to lose money ;"
, but this firactical view of the case is alto-
gether disregarded. The way,. •in. fact,
in: ' which the. I,ondon tapitalists have
"been lectured' amounts to . this :—"
gentlemen, in the interest of. commercial morality
we must protest against your providing large sums
to enable a sat of -reckless traders to carry on' a
dangerously speculative business. . The nation is
injured by the unproductive waste of large amounts
of capital, ...and demoralised by an injurious
example." It seems, absurdly eepegh, to be taken
for grantee that"a hatili, or • a -discount house find
pleasure in doing a class of'hhOsesshy.which they
are certain-losers,. •Tho fallacy of 'the asilitoption
is only squalled by its strangeness. The simple
truth is, that banks and similar institutions are 0
liable to be deceived as much as others. What, let
its ask is_ the article Whio,there is such a desire
to putehase 'l' he enewet is 'pl4inr: It is safe first- t
class • paper. 'Not, it is certivii` from what has
transpired in the -examination of Messrs. Street-
, feild, that their -bills weronniversally considered to
be of the highest character,- and to represent nothing
more or less than legitimate transactions, and it is
not, therefore; ih ithe leist •degree. to be wondered
at that they 'were eagerly taken. "if we had
knownthat they were accommodation bills," says
one csitneiss, "we T should not have discounted
them." `The competition was only for first-rate,
securities,:and not for paper like that issued by.,
Messrs. Streatfeild, although its real nature was not:
understood at the time. In point .ef fact, Street-, ,
feild's house was acknowledged to be at the head of
a great branch of trade with numerous and suPpeied
wealthy connections, and in its own sphere Was of.
commanding power and influence. Suddenly, how.:
ever, the whole. system turns out to be supported.
only by an enormous -issue of questionable paper.'
We will venture to. assert that scarcely any event
has for some years caused so much astonishment in
the commercial world as the sudden unmasking of ,
the real condition of affairie The truth was as little
dreamt of by the commercial world in general as
by the banks and discount houses in particular. ,
There is one point, however, where the banks,
discount houses, and other capitalists might protect
themselves, in some ,degree, from losses like the
I rwahent. In their department of business perhaps
less co-operation exists than in any other. Each
establishment appears to hold jealousy aloof from
others, and there is consequently great difficulty in
bringing about any united action. This state of
things is eminently favourable to the bold class of
speculators. Most other branches of trade have
some representative body, such as, for instance, the
railway companies and their association. Why
could not some similar association be organised
with a view to the protection of capital? Its bene-
fits would be great, and perhaps immediate. It is
well known that the Bank of England have lest
but very slightly by.the crash of the leather trade,
partly through the insight into the discount busi-
ness of the failed firms gained by the practice of
the Bank to make every quarter, during the shut-
ting of the transfer books of Govornment stocks,
advances on approved bills. An association based
on a proper principle might afford to discount
establishments in general the same knowledge, but
to this it is essential that they should work together
with some degree of unanimity.