The Sun.
London, England, 1867-12-23 00:00:00

MINING MARKET.

Du Account.
uridsli 6 per Cent., 1.854.
Do Account
Do 6 pet Cent. 1..63
Do Account — 59
Do 1:190 80--L 65 I
Do 6 per Cent., 1_662 —
Do Act it .. .. . —
Do ...-';l.tA Bonds 617
Do. 1863 —
-
Do 5 nef Cont., 1835 —
per
Do Account
Do 6 per Cent., 1i 55
D ) I per Cent., Guaranteed
Venezuela, 3 per Cent. —
D ' Account —
Do 6 per Cent., 1862
Do 6 per Cent. 1861 —
Dividends on the above payable iu Lon,toa

Austris.n o per Cent. Ex 10 Florins —
Belgian, 4A per cent., Ex. 25f.
Dutch 4 per Cent. Ex. 12 Guil,, 54 51
Do. 4 per Cent. Certificates ....
French lientos, 3 nor Cent., Ex. 25f. —
It'than 5 per Cent. 1831, Ex. 25f.
Do. Account 45 i
TWO O'CLOCK.

Consols, Money 921
Do. Account

[The following appeared is our Latest Edition of Satur-
day evening:l
CITY, HALF-FAST FOUR O'CLOCK.

There is no change to report in the English
Stock Market. Consols closed steadily at 94 for
money, and at 94 I for the account.
Business in Foreign Stocks have closed with a
firm appearance. Italian have advanceed. 1, to 451
; Spanish Passive 4, to 26 26. ; New 3 per Cent.
ditto 1, to 36361 ; and Turkish 5 per Cents. /1, to
to 334 ; while Greek remain steady, at 121 4 ;
and Mexican at 151 Z.;
United States 5-20 Bonds have closed at 721 ;
Erie Shares, at 49 491 ; and Illinois, at 89 891.
The following are the latest current quotations of
same of the principal shares : Caledonians, 74
73 ; South-Eastern, 661 71 ; Great Eastern, 311 ;
Great Northern, 107 108; Lancashire and York-
shire, 1204 to 1211 ; North Western, 1131 1131 ;
Brighton, 44 49i ; Metropolitan, 1144 15 ; Mid-
land, 1011 1011 ; North-Eastern (Berwick), 99 991;
Manchester, Sheffield, and Lincoln, 45 to 451.

LIVERPOOL COTTON MAIIICE7-7his Day.

Market opens dull, but unchanged. Sales pro-
bably 8,000 or 10,000 bales.

MR. D. A. WELLS ON HIE COTTON TAX

The following are the conclusions arrived at and
embodied by Mr. David A. Wells in his Special Re-
port on the Cotton Tax to Secretary M'Culloch,
the Chief of his Department :-
Ist. That cotton growing in the Southern States, if un-
taxed, can be conducted profitably and successfully, as
against all competition elsewhere.
. .

2d. That if burdened by a tax sufficient to bo worth to
the Treasury the cost of its collection, it cannot at, present,
if ever, be successfully prosecuted. . .

3d. That, already familiar to our people, in all its details
it is the only industry immediately available and practicable
to the great body of the labouring population of the South
for the profitable employment of surplus labour ; that is,
beyond the necessities of crops for subsistence, in the pro-
duction of something saleable and exchangeable, whereby
wealth can be regained ; and
4th. That the importance of a large production of cotton
as the chief export of the country, in adjusting balances of
trade and exchanges, and especially in its bearing upon the
future position of the public debt, so largely held and to
be held abroad, cannot well be overstated; and so far
transcends the value of the present tax that to preserve
the latter at the cost of losing the former would be a
" ha'penny 'orth of wisdom to a pound of folly."
The whole amount of internal revenue derived from the
tax on raw cottote for the fiscal year ending June 30, 1867,
was $23,769,078.80 ; and although this sum comprises
nearly all the revenue derived from the southern section
of the country, and constitutes tin amount that can ill be
spared from the Treasury, yet, under all the circumstances,
the commissioner has no hesitation in recomtuenling the
immediate passage by Congress of an act repealing the
entire tax upon raw cotton, and the corresponding exist-
ing
duty ou imported cotton—the same to take effect on
its passage.
As yet but a small quantity of the new crop of cotton
has been marketed, but if the repealing act be delayed to
a later period it will evidently work injustice to those
producers who may be forced to send their crop forward
immediately, unless the removal of the tax should be de-
ferred to take effect at the close of the present cotton year,
Sept. 1, 1868.
If a repeal of tho tax, to take effect immediately, should
be enacted by Congress, it is important that one con-
tingency should be effectually provided against it. Con-
tracts, it is understood, are proposed, and possibly already
made, for the purchase of cotton, tax unpaid, to be held in
store until the repealing legislation of Congress has taken
effect, thus insuring to the speculator or exporting buyer a
gain equivalent to the amount of the tax. It seems de-
sirable, therefore, that the act of repeal should be so
worded as to relieve from the payment of the tax only so
much cotton as, at the date named in the act, remained
unsold by the producer—all cotton having passed out of
the hands of the producer to pay the tax, if it has not
already done so. Only in this way can the relief go where
it is intended, viz., to the impoyeritthed cultivator.

MONDAT, Two P.M.
There has been more activity displayed in the
market to-day, and prices in several instances have
a:lvanced. Annexed are some of the latest quota-
tions

fast
earn Brea, ; Chiverton Bloor, 5i 51; Chontales
Gold, 3} 31-; Clifford Amalgamated, 52- ; East Basset, 10
; East Caradon, 5.1; East Lovell, ——; East Russell,
; Proutino and Bolivia Gold, 16s ltd 18s; Great
1711 S ; Great Retallielc, —— ; Great Wh. al Vor,
3 Marko Valley, —; North Crofty, 2} 21 North

THE SUN) LONDON, MOND %.Y EVENING, DECEMBER 23, 1867.

Business
done.

MARKETS—(2his Day.)

MARK LANE.

The leading country markets held on Saturday were
scantily supplied with wheat, which moved off slowly, at
about stationary prices. Fine barley commanded full quo-
tations, but all other kinds of produce were a dull inquiry.
Very little change has taken place in the value of grain
on the Continent. lu America prices of both wheat and
flour have had an upward tendency.
The fresh imports into London last week were 57,159
quarters of wheat, 4,288 barley, 72,610 oats, 2,105 rye
1,522 beaus, 11,621 peas, 130 tares, 3,626 linseA, 16,672
rap -seed, 3,183 Indian corn, 135 sundriea, 829 sacks, and
34,3:.6 barrels of flour. -
Although the supply of English wheat on sale here to
day was very moderate, the demand for all kinds ruled
very inactive. In prices, however, compared with Mon-
day last, no quotable cling() took place, except selected
parcels, which advanced. The general quality of the
s imples was inferior.:
With foreign wheat we were tolerably well, but not to
say heavily, supplied. All deKriptions moved off slowly ;
nevertheless very little change took place in prices.
Floating cargoes of grain were a dull inquiry, at late
rates.

72 f I f 3

1:.,01 1

113 1413112 i
75) 6

11151 15 16 In

1053 6

101 / 1001 31

Fine Larley was scarce, and in request at full quota-
tions. Grinding and distilling sorts were inactive at late

rates.

Malt was in fair average supply, and sluggish request at
last week's currency.

The supply of oats was very extensive. All descriptions
were heavy, at a decline in the quotations of from 3d to 6d
per quarter.
Beans commanded very little attention, at late rates.
English peas ruled about stationary, but foreign parcels
were z ather cheaper.

American flour was rather cheaper. English qualities
supported late rates.
Seeds generally were heavy. In cakes very littlo was

passing.

CURRENCY PER IMP. MEASURE

Wheat— .Essex and Kent, red, now, per qr. 64s to 703
Do., old —B —s
Do., white, old —s —s
Do., new
Norfolk and Lincoln, red, old —s --s
Do., new
66s 758

Talavera
Rye
Barley —Grinding
Malting 3Bs
Malt—Suffolk and Norfolk
Brown
Kingstown and Ware
Chevalier 7ls
Oats—Yorkshire and Line°lush., Feeding 23s
Potato
Youghal and Cork, black 24s
Cork, white 2ss
Scotch, Feeding 29s
Beans—Tick

Pigeons .... 4Bs
Peas—Groy,
Maple
White
Boilers
Flour —Town-made, per 2801 b
Suffolk s2s
Stockton and Norfolk
Amorican, por barrel 29s
French, per sack 4ls

METROPOLITAN CATTLE.

The show of foreign stock here to-day was limited, and
chiefly in middling condition. The demand ruled hea y
at about previous quotations.
At least two-thirds of the English beasts on offer were
the refuse of last week, whilst their general quality was
by no means prime. The trade as a whole was in a very
uncertain state, but we have no change to notice in the
quotations compared with Monday last. The best Scots
and crosses scld at 5s per 8 lbs.
About 600 of the fresh beasts came to hand from various
parts of England. The number from Scot:and was 6, from
Ireland 22.
With sheep we were scantily supplied. Nevertheless
all breeds were very dull, and prices ruled almost nominal-
The best Downs and half-breds may be quoted at 5s per
8 lbs.
The few calves in the market wore taken off slowly at
late rates.
In pigs scarcely a transaction took place. The supply
was very limited. The nominal top price was 4s. 2d. per
8 lbs.

Per Blbs. to sink the offal.

Total..

1867.
Casks.
!0,236

London 60,080
Liverpool ... 1,033
Bristol
Other English pts 2,0 3
Ireland
Scotland
Germany
Franco

1866.
Casks.
70;277

70,277

291
1,823

833
3,220
7,678
3,281

18G3.
Casks.
60,711

60,71.1
2,626

.140
1,D60

-780
4,150
7,000
3,030

THE FENIAN OU2P.A GE.

BOW-STREET.—Tms DAY.

TALLOW.
Tho market is flat at 43s 3d for Y.C. on the spot, and
41s Od for town tallow, nett cash.

1864. 1865. 1866. 1867.
Stoek—(this day)
Price of Y.C.
Delivery last week 2,861 2,377 2,163 1,832
Do. from June 1 , . 53,674 67,296 56,710 46,115
Arrival last week
Do. from June 1 - 66,838 84,661 .T 7,142 167,690
Price of town
Quantity of tallow loaded off from St. Petersburg at the
close of the navigation :
- - - - •

1861.
Casks.
58,35,3

49,22 G

2to
2,330

450
4,030
1,715

90,236 87,611 81,017 533,56

EXAMINATION OF THE ACCUSED PRISONERS.

The further examination of William Desmond,
Nicholas English, John O'Keefe, and John Mul-
vaney, who stand charged with treason-felony,
took place to-day before the chief magistrate, Sir
Thomas Henry.

Mr. Giffard, Q.C., and Mr. Poland appeared on
behalf of the Crown to prosecute the prisoners, and
Mr. Lewis appeared for Mulvaney.
Mr. Giffard said he proposed on the present oc-
casion to have the evidence already taken against
the four prisoners now in the dock read over, and
then he should recall the witness Vaughan in order
that he might repeat his evidence against the other
prisoners. This having been done, he should ask
for a remand, and trusted the magistrate would not
call upon him to state his reasons for adopting such
a proceeding.
Sir T. Henry—Certainly.
The evidence of Vaughan having been read over
and signed,
Mr. Lewis, before he proceeded to cross-examine
the witness Vaughan, requested Sergeant Cole to
leave the court. This having been done, the wit-
ness then proceeded to answer the questions put to
him. lie said—l never was in a police court
except in the present case. I entered the Fe-
nian Brotherhood in 1865. The reason I had in
entering was to assist in the regeneration of Ire-
land. I ceased to be a member of the brotherhood
last Monday evening. I ceased to be so in conse-
quence of the information I had given. Previous
to that evening I bad never given any informa-
tion to the police. I had never until that
occasion ever spoken to the police. I had at
that time seen the bills offering the re-
ward before I gave the information. Up to that
time I had devoted all my energies to the Fenian
Brotherhood and also after it. It was about four
or five hours after I had seen the reward bill that I
went to Sergeant Cole. Offer of the reward did not
in any way alter my feeling towards Ireland. I
only understood what was to be done at the prison
from what I heard from Desmond, but I did not
believe it would be carried out to cause such an
extent of bloodshed. I have been in the army.
Mr. Lewis—What regiment ?
Witness—Am I bound to state the number of
the Regiment?
Sir T. Henry—l don't think you can object to
answer it.
Witness—lt might affect me as a deserter.
Sir T. Henry—You can refuse to answer it if
you like.
Mr. Lewis—Do you admit that you are a
deserter ?
Witness—Yes.
Mr. Lewis—What regiment ?
Witness—Am I bound to state that ?
Sir T. Henry—Yes, after admitting you are a
, deserter.