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

'O2VEY MARKET L CITY NEII S.

CITY, Two O'CLOCK.
The 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
698.
698 3d. to 595. 6d., and end of the year 595. to
. 3d . per cwt.
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 capittl of the undertaking.
asumof £13,138 was also paid into the Indian
redsurY, to the credit of the Madras Irrigation
3:d
Vit Land Company, in advance of calls, making,
h former deposits of a like nature, a total of
£402,833 received since the 29th of February.
In the Liverpool Cotton Market yesterday a fair
Ipileunt of business was transacted, and prices of all
eriPtions were fully maintained. The sales were
„,s
bales.
r The market for English securities yesterday
it„,,ltruoon closed firmly, Consols being quoted 96 to
tIU:1-‘ for money, and 96,1 for account.
thie being the Ist of November, the Stock Ex-
et:auge is closed ; the transfer offices at the Bank
of England being shut in order to adjust the half-
„lelt,,rlY accounts. As it is All Saints'-day, the Paris
-114 Vienna Bourses are likewise closed.

Bank s •
'ft BRITISH FUNDS—CLOSING PRICES.
3 tock
94 4
3 Per Cent. Reduced Annuities
- 96; 51 6; 6
teer Cent. Consols Annuities
941 1
rilit,itio
_ '" 3 per Cent. Annuities
;,?Ilg Annuities, expire sth Jan., 1880....
1,3 s 1
fsorto3o Year' s, expire sth April, 1885 4I a
223 4
Bit "
103;
Tr to) 1859, 5 per Cent.
tiftsteL,Oan Scrip, 5 per cent
' -"ebeutures, 1858 —
961
Ditto, 1859
Ditto £l,ooo
2 d
Pitt, Haas, £l,OO
961 6
oasols for A.ccoont (Nov 8)
28 31
txchequer Bills, £l,OOO, lid
tilt,
„FOREIGN FUNDS—CLOSING PRICES.
citian 5
_
~ per Cent.
951 6
Ditto 41 per Cent. 1852
ueOltto 41 per Cent. 1858, 95
gl XIM
_
b, a 3 per Cent.
21; 21
'lt° Account
tort
u
451
hu .guesel 1853, 3 per Cent.
Ditto 1822 .£ St., .5 ner Cent _ itto '
_
1,. ) 3 per Cent., 1859
t Lutto scrip,
1 d
ardir„
h: -4111) 5 per Cent.
Ryitte A.cccant
. 851 61
'P,l4iBll 3 per Cent —
.uitto A
. 441
biiio im.ecount ....
321
1314,•„,,iew Deferred, 3 per Cent.
TIL —1..4 Coni. Cert. of Coup. not funded 4l
iiii.''Ph 6 per Cent
,Itto Acer,..,
771 Si
i tin Nev;r_b_
671 7
Ditto A
e,c0,211-7tan .......
68 7i
Dutch Ebividends on the above payable in 14211d05.
xchange, 12 Guil. 21 per Cent 651

.THREE O'CLOCK.
Con.sole, Money
Ditto' Account (Nov, ) - , 966 k

IRON SHIPBUILDING.

4‘• lett, : -•
Nov -_,. in a contemporary says :—Among the
%Iv, to
bated allct Mighty inventions which have contri-
make this country and this age famous,a
Of 9icuou, Place must be given to the application
kerirou ,
ean„,Lo shipbuilding. Without it England'see
Vith -f,`" marine could scarcely have kept p
oceanic marvellous growth of her commerce, and
infant steam navigation would yet have been i i
in. 1ttiCe374.1.) yen Bruners genius. would have quailed.
any
ot s.l r.
ns the construction of the Great Ship in
15Y tli," material; and it is scarcely too much to
ferrus•-inat the abundance and richness of the
kid t-cchis ores which are round in this island,
bieuaryl the facilities for their reduCtion placed to
"hat -ands by nature, compelled our naval
f
to direct their attention to the use o
Illiltaefured iron in building vessels.
safer,e,ir°_,n ship, when well built, is indeed stronger,.
Ve s, anon
More durable than any other, and yet if
lieskitrea the records of those disasters to which a
114-ria° ships are exnosed it will be found that the.
iron l'eStrUCtiVe and appalling have occurred in
°f the
I need only call to mind the wreck
its thee trkenhead, which will find a place in history
'otien epehe where the disciplined bravery and de-
oust th our soldiers were nowhere more conspict.-
ektZ displayed, and that awful and heartrending
tie.isrohs ~.
A " which within the last few days has car-
ye': -orrow
;, and anguish into hundreds of homes..
itstftrlbtic the hearts of relatives arc yet bleeding,
saddene Public is stunned with the immensity and
~._ness
of its loss ; while many would try to
1.47 their g:ief in oblivion, and others would pref-
the,Q e°llteMplate in silence such an illustration of
the reYsterious ends of Providence, I conceive that
taleurs„,(ms Which the loss of the Royal Charter isd
that
the causes
t-
,, u afford ought not to be overlooked, an
Plete ,1; of a -wreck so sudden and so co.rn.-.
l'est' - eu'd he most promptly and searchingly in
Igate,t
Iwo `"
t4NI uld, therefore, very earnestly and promi-
,airt Ybr .
an under the notice of your readers cer-
tioa
„Reenetal features and practices in the construe-
last
,',-1' iron vessels which in my opinion are in the_
seen to dangerous and reprehensible. It would_
Perlrt° eeqnmend itself to the common sense of
ship' Ton that in building an iron sailing or steamd-
hilt waich is to be subjected to all the strains an
s- etins.
4rei h t'S Of tempest tossed seas, which will be_
theg ted with hundreds of human beings and
the 11?ost precious cargoes, and which must run
tlutnilsks of collisions and strandings, none other
tiale
l!lle very best and strongest mate-
the bast be employed. The toughest iron,_
Ind :%t seasoned spars, and the stoutest planks
tare,TePei? should alone find places in such a ven-
is this .But in our ordinary every-day practice thounls • the ea„ ?
Is not any kind of iron
is the good enough to build a ship with ? What
aced weaning of " boat plates" being the lowest
tap „ y ironniaker's list ?If we pay £25 or
is ulaTil for the plates of which a locomotive boiler. 9
Per ton-e' why should we give only £8 10s. or 1 ten for those of which a ship is built ?If safety
at'e only
Be bought at the high price in one case,
the Other 6 t courting disaster with the low price in
tien in ? Who will draw the fine line of distinc-
r a
lina,Moral responsibility between the directorres,
phtee youY company who should take your fa
drive . in a comfortable first-class carriage, and
Nsas- Joh at 40 miles an hour over a viaduct which
plholhiserably insecure, and the owners of vessels.
Plate send Passengers to sea in ships sheathed with
Etts s which are as brittle as glass ? The only
TettrWer to this question in the way of excuse is, I
or that most men are really and truly ignorant
don ee,;-”ts. In the eyes of the merchant of Lon-
iron i' Liver In
who orders the building of a ship,
is 's 'ron. He probably does not know that in
there
Material there are as many shades of quality as
eouiri,e, are in the wines or fruits which all bear on;
tkp -3,°n name, and yet I am within mark when.
creased he might by paying £2 (,r £3 per ton In-
she:tell Price upon the plates forming the outward
eel's of his ship immensely increase the yes-
-I,,..trength and durability.
or n't ith
the ; good well-worked plates, where the fibre
these- 'Ton is ductile and tenacious, and where
the Plates are well and judiciously fastened toge-
%lli' vessel, even if wrecked in such a gale as
delli e"f last Tuesday, would break to pieces so su
h 3' and so utterly as the Royal Charter seems to
Ille done
oetitiat built of the " boat plates" of the present day
bponlielp the human freight of the ship that strikes
1 4 rocky shore!
tritetW. Quid therefore advise shipowners when con
ssithlng for new vessels, instead of being satisfied
bora sPecification which provides good ordinary.
about' Plates" to be used, and which. are in fact,
inade t,he.most rubbislting quality of iron which is
the I: to insist that the sheathing should all be of
1,000 e,st, or double-worked quality. In a vessel of
the ,aloes'h it would not increase the cost £5OO, and
tlorL.,, is gained in the greater strength and
thei`.',l."ty of the ship, to say nothing or the lives
i• 1‘ may possibly save.
ewi arlher, I would caution all well-disposed ship-
s to look with great suspicion upon the cheap
teelr4+ ,Y, rich are constantly laid before them as
Ivitit:-attons
, to order ships. To any one conversant
pet ~4 snips value, what other construction can be
the 'Pon a contract for a vessel of 1,000 tons with
es.,-,.%"5t expensive outfit for £l3, or £l3 10s., or
thas; 4444
burer ton measurement ready for sea than
sea--,„.°,e lder means to employ bad materials and
ssi-tr,P his work ? He begins upon such an order
or a determination either to cheat his customer
heeueat his creditors. But such vessels are built on
th ClYde the Tyne, and elsewhere, and I maintain
builders
the shipowner in buying them shares with the.
44e_'ider the moral responsibility of a great guiltid-
tr:.s, for they are deliberately launched and shred to go to the bottom,