The Sun.
London, England, 1859-11-01 00:00:00

•••••-
I}IOArRY MAR A' _ET AND Wry NEws•

CITY, Two o'CLoCK.
Ti,e markets for Foreign and Colonial Produce
during the last few days have shown more anima-
tion, and in some instances advanced rates have
been realised. For tea there has been a steady in-
quiry, and the new season's crop has been dealt in
at full rates. Sugars were in good demand, particu-
larly British plantation, which realised an advance
of about 6d. per cwt. In the refined market, how-
ever, business continued rather quiet. For coffee
there was only a moderate inquiry, but most de-
scriptions of fruit continue in good demand, the
finer qualities of currants realising high prices.
Saltpetre has -been inactive, and the dealings in
tallow have been rather restricted as regards spe-
culative business. P.Y.C. on the spot is quoted
695. 3d. to 595. 6d., and end of the year 595. to
691. 3d. per c wt.
Yesterday the directors of the Great Indian
Peninsular Railway Company paid £443,600 to the
Secretary of State for India in Council, on account
of the eapitil of the undertaking.
A sum of £13,133 was also paid into the Indian
1 reds
.ry• to the credit of the Madras Irrigation
and Land Company, in advance of calls, making,
With former deposits of a like nature, a total of
£102,833 received since the 29th of February.
In the Liverpool Cotton Market yesterday a fair
amount of business was transacted, and prices of descriptionsall
were fully maintained. The sales were
,000 bales.
The market for English securities yesterday
946fternoon closed firmly, Consols being quoted 96 to
This
for money,
and 96i I, for account.
1 being the Ist of November, the Stock Ex-
ernge is closed; the transfer offices at the Bank
England being shut in order to adjust the half-
Yearly accounts. As it is All Saints'-day, the Paris
411 d Vienna I3ourses are likewise closed.

•
Bak
sI3tRocIkTISII FUNDS—CLOSING P2R2I7CES.
3
a
Per Coot. Reduced
Annuities 94 1
96k 43- 0 6
uer Cent. Consols Annuities
941 I a A
v.vv 3 per Cent. Annuities
Long Anuities, expire sth Jan., 1880. ••• 7., ,‘ ,
Ditto for 30 Years ex iro sth April, 1885 ii t a 4
223 4
Italia Stock ' P
1031
b.Dito, 1809, 5 per Cent.
103 k 3
LOall Sc, 5 per cent
Ditto Debenture, 1858
961
~, Ditto, 1859 Ditto
bends, £l,OOO
2 d
!?Itto under £l,OOO
4801-1 for Account (Nov. 8)
28 31
Lachequer Bills, £l,OOO, 11d
Brazilian..s.R
_
SEPIeI?TenFLUNDS—CLOSING PRICES.
95t 6
Ditto 41 per Cont. 1852
95f
rel)iyo 41 per Cent. 1858 ' 1.14411 per Cent. . .
I,l)itto Account ... *
214 2k
-I 5 1-
it'ZAllese, 1853, 6 *** Cent..
. ji,ii.ttlttlori,4,.
.22, St., 5Tr Cent —
"140, 3 per Cent., 18r9 —
I d
Baraini Cp,
o per Cent
saptaalliiiittiittsooh4.3eeperletent —
851 6i
3') V 1
Isicew°llllDetferrod, 3 per Cent.
1 uriktiolihNi.eco:reluoerun.LeCoteactrltut. of Coup. not funded 'is
..
Dittobitto Account
671 7
7:t
Dutch Exchange , Dividends on the above payable in ?,ndo.
12 Guil. 21 per Cent 65,T,Skt
C
THREE O'CLOCK..
£6
Consols Mone Y
96b i
Ditto A.ccount (Nov.)
..__

IRON SHIPBUILDING.

--.---
!fliettee in a •
atly .
_, . contemporary
'lilted to 'nighty inventions which have contri-
says :—Among the
coas.,; ) mighty
this country and this age famous, a
of Iron Place must be given to the application
keret'," ,t 0 shipbuildine• Without it England's
RitCnttle marine ceuld scarcely have kept pacend
oeeanthe marvellous growth of her commberchelna
ts
ounce steatn navigation would yet have ee . i
y. -r,
la atte given Brunel's genius would have quailed
ittly 111Pting the construction of the Great Ship in
say °therraaterial; and it is scarcely too much tothe
festntil: at the abundance and richness of
end gitlestis ores which are found in this islant
tinuar. trurctoforcsilities for their reduction Placed °
eenst 'lands by nature, compelled our navalf
to direct their attention to the use o
Tititfactured iron in building vessels.
safes e iron ship, when well built, is indeed stronger,f
Re search' ki More durable than any other, and yet i
sea,.. the records of those disasters to which alli
11107411(4 shiPs are exposed it will be found thatt the
iron e destructive and appalling have occurred i_
eotton,
°f the L. ."8. I need only call to mind the. wreck
trkenhe
48 the s ad, which will find a place in history
l'otio- nene Where the disciplined bravery and.cdue:
ousiv,l°,f our soldiers were nowhere more conspi.
0.
eatalAsPlayed, and that awful and heartrenclin,,
eieds'rophe which within the last few days has car
Ye. r‘rtnyv and anguish into hundreds of homes.
an3tlvshile the hearts of relatives are yet bleeding,
Rudd ne Public is stunned with the immensity and
bury
es of its loss ; while many would try •
fey to their grief in oblivion, and others would pre-
the ° contemplate in silence such an illustration of
the 1111„3.8terious ends of Providence, I conceive that
eak„Pons which the loss of the Royal Charter is
thnCiated to afford ought not to be overlooked, and
Nett uae causes of a wreck so sudden and so co.tn-
peq. Bhould be most promptly and searchingly in
-
therefore, noted.
I Wo I
)aentl n d, therefore, very earnestly and prom!:
tain y b
ring- under the notice of your readers ce tioe g.eUetal features and practices in the constrlic-
las, 21 it al
vessels which in my opinion are in the
seel_negree dangerous and reprehensible. It would
every to commend itself to the common sense of
,ll"'.ty Man that in building an iron sailing or steam-
hattw.hich is to be subjected to all the strains and
frei,chl,ngaB of tempest-tossed seas, which will be
the°,,Lea with hundreds of human beings and
the ',°Bt precious cargoes, and which must run
thei;lBl's of collisions and strandings, none other
rials o,tlic, very best and strongest mate-
Iteti
brozuseidasobneed employed. The toughest iron,
spars, and the stoutest planks
lire. Pes should alone find places in such a ye.n-
is this but in our ordinary every-day practice
the the case ? Is not any kind of iron
is• trht good enough to build a ship with ? What
priced Intaning of " boat plates " being the lowest
t3O• in any ironmaker's list ? If we pay £25 or
is. 4-ton for the plates of which a locomotive boiler
~1114.. de, why
should we give only £8 10s. or £9
ran' ton for those of which a ship is built ? If safety
are !lb. he bought at the high price in one case,
the "e not courting disaster with the low price in
do Who ? Who Will draw the fine line of distinc-
et nt moral responsibility between the directors
Place ay company who should take your fare,
drive You in a comfortable first-class carriage, and
ws,:e You at 40 miles an hour over a viaduct which
Wh-nnnserably insecure, and the owners of vessels
pi .." send passengers to sea in ships sheathed with
esWanswer
whichw are as brittle as glass ? The only
oyiter this question in the way of excuse is, I
tr: that most men are really and truly ignorant
do ne facts. In the eyes of the merchant of Lon-
iron et' Liverpool who orders the building of a ship,
th.ll ii iron. He probably does not know that in .I_lB Material there are as many shades of quality as
el'uoern are in the wines or fruits which all bear onel
satn,7lll4.,°ll' name, and yet I am within mark when
er'eT 'at he might by paying £2 or £3 per ton in-
tiii ased price upon the plates forming the outward
_ettthit, g of his ship immensely increase the yes-
-4 rwstrength and durability.
of tbith, good well-worked plates, where the fibre
these--ac iron is ductile and tenacious, and where
Plates are well and judiciously fastened toge-
ther, no vessel, even if wrecked in such a gale asi
deal of last Tuesday, would break to pieces so slu
h 3. and so utterly as the Royal Charter seems to
4„v° done.
'Tit built of the " boat plates" of the present day
u eu' help the human freight of the ship that strikes
P;511 a rocky shore!
tre,lN.'nuld therefore advise shipowners when eon.
Nviti;ing for ne-.v vessels, instead of being satisfied
e I„;.`_ a specification which provides good ordinary
about
plates" to he used, and which are in fact,
tuailt the most rubbishing quality of iron which is
tee, to insist that the sheathing should all be of
170 best, or double-worked quality. In a vessel of
111, ° tier's it would not increase the cost £5OO, and
durfivil',l,lc is gained in the greater strength and
ttiat7"lty of the ship, to say nothing of the lives
't May possibly save.
Further, I would caution all well-disposed ship-
„fillers to ook with great suspicion upon the cheap
t , `',1.8 which arc constantly laid before them as
tjt.)l3t4tiOnS to order ships. To any one conversant
pat sip allip's value, what other construction can be
the nimu a contract for a vessel of 1,000 tons with
even °lest expensive outfit for £l3, or £l3 10s., or
that"
l't per ton measurement ready for sea than
scamp the builder means to employ bad materials and
.i;,, his work ? He begins upon such an order
°ritz; a determination either to cheat his customer.
he
cheati.o, 11,8 creditors. But such vessels are built on.
tbta;:tlede, the Tyne, and elsewhere,
shipowner in buying them shares with the
and I maintain
cuitger the moral responsibility of a great gui i:
tress for they are deliberately launched and
freighted to go to the bottom.