The Sun.
London, England, 1857-03-26 00:00:00

0N Y MARI% .022

AN D
COMMERCIA,L ETTELLIGENCF.

CITY, Two-o'Ceocx.
Letters from Liverpool state that the Cotton
Market yesterday closed heavily, at previous prices'
The sales were 6,000 bales, 1,000 of which were
aken for export. The Railway Share Market was
steady, and subsequelitly closed at its best point.
The shipbuilding firm whose difficultiet we ad-
verted to yesterday, is that of Messrs. R. J. Brown
and Co., of Sunderland and London. Although
the subject has been freely discussed during the
last two days, wo abstained from publishing the
teethe, as negotiations were in active progress to melee
s rich arrangements as would aveit a stoppage. These
negotiations have, failed, and it is feared that the
consequences will be serious, especially in the north,
Where the utmost excitement prevails owing to the
prospect of other firms being also involved. The
liabilities are about 200,0001. or 240,000/•1 and the
assets will probably realise 10s. in the pound,
but some affirm that 14s. 9cl. in the pound
may be secured., The assets consist of timber and
Shipping, both of which, in the present state of the
market, would realise low'prices. At Sunderland
much alarm has been occasioned, and the negotia- ,
tion of paper is rendered almost impossible. Mr. I
Brown was connected, in an official capacity, with
the Australian Auxiliary Steam Clipper Company,
and was a large shipowner. The catastrophe has
excited general regret, and his friends deserve
Much praise for the exertions they have made to
extricate him from his difficulties.
The affairs of the London andlelEastern Banking
Corporation appear from the proceedings which
took place yesterday to be in a much more
unfavourable situation than was generally sup-
posed. The liabilities aro 397,734/., while the
assets are computed at 413,450/. If this sum
is realised a return of about 31. per share out of
50/. per share subscribed may take place, but it
must be remembered that the amounts set down in
such cases are very seldom realised. The statements
made by Mr. Coleman, the accountant, show that there
has been gross mismanagement of the funds placed
at the disposal of the Directors, who, instead of
applying them to the legitimate purposes of Bank-
ulg, have most recklessly involved the shareholders
in serious losses, by making advances to themselves
and others, rhich render them liable to serious
charges. The mere fact of advancing a sum
equal to the capital subscribed to Colonel Waugh,
on the Bracksea Castle and the Beddington estates,
is enough to excite unqualified condemnation, but
the loans made to other members of the board
Without adequate security fully prove how utterly
unworthy they were of the trust reposed in them.
It was finally agreed that the Oriental Bank,
the Agra Bank, and the North - Western
17:tank of India should send out 104,000 .
tnext day to meet acceptances falling due,
and to hold over all other bills against the Bank,
°/1 receiving a commission of 21 per cent. and the
turrent rate of interest for all advances, the share-
holders giving their individual promissory notes for
e remainder of the 1:91. per share to which they
are liable.
At the meeting of the Ottoman Bank, held this
day,,e the report was read and adopted, and a pay-
'eat of 15s. per share (being equal to 10 percent.
_
Per annum on the called-up capital to the 31st
ectlnber last) is to be made each registered share-
wilder on his signing the deed of settlement, which
thel leave a balance of 12,7291. 19s. to be carried to
credit of the current year's account.
IVlrt A. H. La and M.P. the chairman, in an
eloquent speech, said that four branches had been
tl'eeessfully established in Turkey, and at Constan-
TuiPle, where they met the grea,tet resistance.
"e Greeks and Armenians, who were the great
bankerscustomer
out there were now counted amongst their
e'll,st °neer S. Mr. F;lconet, recommended by the house
eur. Baring Brothers would be of the greatest Per-
Wyliee to the Bank, looking at the great esteem in
which th at gentleman was held abroad. He con-
sidered tl ie National Bank of Turkey would bend-
fit, instef id of being any prejudice to the Ottoman
Bank, foe. it would do the first thing needful of
Placing tile currency on a sound basis. The chair-
a.an's speech was received with applause, and the
report with the dividend of 15s. per share, or 10
Per, cent, per annum, was agreed to unanimously.
A further sum of 50,000/. was sent from the
Bank ye: gterday for the Continent.
The m oney market is still very active, at full
rates. No alteration in the terms of interest and
discount- was made by the Directors at their
weekly Court to-day.
In English Securities more firmness is visible,
and sever al purchases of stuck for the May account
are report There is still very little disposition
to deal hr .wever. The market, though firmer, is in-
active: Consols have been 931 0-, and 934 14 for
money, while for account they have been 931 es.
karch E:echequer Bills are par to 4s. prom., and
the June ditto ls. discount to 4s. prem. India •
Stock is ;i231.
k:oreigia Stocks are equally dull. Turkish 6 per 1';
'aents. are 98 to 981,- ; Sardinian 5 per Cents., 9N ;
-raertugues le 3 per Cents., 451, and Dutch 2i per 18
"nts., ; Mexican Stock is heavy at 23. 20
The fel: lovsing are the nominal prices of Foreign 100
't°eks :----Grenada Deferred Bonds, 61 7 ; Maxi- 100
CU; 22# Peruvian 4fr per Cents., 77 9 ; do. 3 ,ea
ter Cents e, 55 7 • Portuguese 3 per Cents., 441 5i ; 20
iutisian 5 per ()cuts., 107 9 ; do. 4 per Cents., 20
; Spanish 3 per Cents., 41 ; ditto De- 20
feared, 2 5 ; ditto Certificates, 6i ; ditto 20
17
P k 1
assitre, ISit 20
The las F week's railway receipts, ascertained up st.
thisto day, are in round figures as under :- -20
1857. ‘1856. 100
Great Wel item
00
North-We stern
..ssouth-Wcei stern 12,707 13,642 st.
adr.
7,
1 ton
100
Midland
Iglnth-Eas: tern
great Northern
..4,apeashir() and Yorkshire
Chaster
flue ' Exeter 5,338 5,472 100
East
aid Holyhead
st Lancashire 5,798 wee 100
Lancaster and Carlisle
sanchest( Sheffield, and Lincoln 8,863 8,605 n
North Stafford
Oxford, Worcester, and Wolverh 3,706 3,355
Belfast
:Ind Darlington 6,125 6,065
ulster
wad Ballypaen, a
ulster 1,358 1,270
thtit) •
urgli ana Glasgow
docottish North-Eastern
Grand Trunk of Canada
Great
We stern of Canada.
bA: moderate business has been transacted in the
orilway Share Market, and prices in most
stances, have slightly, advanced. Caledo-
31lart, Eastern Counties, Treat Northern,
and. North Western, improved ss. Lanca-
shire and Yorkshire, Midland, North British,
North-Eastern .(Berwick), and Souths Eastern 10s.
to 15s. t Great Western and Brighton realised fully
fernter quotations. In the Foreign and Colonial
Illidertakings prices have also shown an improve-
ulent. :East Indian advanced 10s., Grand Trunk
of Canada 11. 10s., and Paris and Lyons about ss.
In Mining shares there is no change of import-
ance in prices to report. Wheal Trelawny brought
25. Brazilian Imperial 11-1, and United Mexi-
can 34,.
In Joint Stock Bank and Miscellaneous Shares
a fair business has been transacted at about previ-
ous rates, Oriental Bank declined 10s. and Union
of London 10s. Australian Agricultural shares re-
ceded 11,, and Electric Telegraph 10s. Canada
Land improved 11.

BRITISH FUNDS.—CLOSING PRICES —TB IS DAY.
(from the Official List:)
Binh:teas done
3 Per Cont. ConsolS Annuities 934ii a
er
,'" w. 3 i per. Cent. Annuities
A: eiv 24 p Cent. cities.. ....
... 76i •
0 per Cent. Annuities. .......................
India Stock
:NM& Bonds, £lOOO ... ....••••.
Ditto, under £l000
Consols for Account 93a i
.. -
E ;chequer Bills, 24d. ....March. June.
£lOOO. par 4 p 1 d 4
£5OO - par 4 p 1 d 4
4 1 d
Elima/! 3 4 p par
PRICES OF FOREIGN FUNDS—THIS DAY.
Xquador New Consolidated . l4B
Mexican 3 per Cent —
Ditto Account ........................ . ...
Portuguese Bonds, 5 per Cent., Con, . 1.84.1
Ditto 1853, 3 per Cent. 451
Russian Bonds, 11522, E St., 5 per Cent.,
•,
per Cent. .............. . .......... : --
974
Sardinian Bowls, 5 per Vent.
Ditto New Deferred, 3 per Cm'• •9U 1
S
25
Spanish Committee Cort. of Coup. net fun 661
Turkish Bonds, ti per cent 9B
Ditto Account
. A , i. ends on the above .ayabie In Lonat.n.,
3'rench Rentes, 44 per Cent... . . —
Ditto 3 per Cent.
‘)f. 27c ,
' -.
Belgian, 26 per Cent., ex. '25 francs —
Ditto 44 per Cent.. ex. 25 francs
Dutch Exceange, 2{ per Cent., 12 Guilders 651
Ditto 4 per Cent. Certihostes 99

• • THREE O'CLOCK.
Consols, money 93g
Ditto, Ae;:ount:( April 8)

INDUSTRY IN FRANCE.—The Department of the Ma- 1
rine and Colonies is now about founding, in the Rue de
Ri voli, at the corner of the Rue St. Florentin, a perms-
tent txhibition of the productions of the French colonies,
Similar to that formed by the Minister of War for those
of Algeria. A special commission has been formed for its
management, of which Vice-Admiral Ceeille is president.
It held its first sitting on the 18th, and it is expected
that the exhibition will soon be open to visitors.

all Atlan. and St. Law.
9 Bon5.1) Ihroda, and
Cen.lnd,guar. 5 P.C.

all Do.
101, Buffalo & Lake Hut..
100 Buff. , Brnt. & Godcli.
1100 6p. c.bds., 1 Aug. ,'72,
Do. do., 1 July, 73,
100 Do. do., 1 Juno, '74
2s. Calcutta and S. East.
281 d Coatral °ado (Litn.)
108 Ceylon A sham:,
1 Do. B. do.

100
all
100
100
all
all

all Demerara
2s. Eastern Bengal
100 East Indian
15 Do. C Shares
all D 0.4 p c.Bnds.,'s7
au Do. do. do., '59, do.
all Geelong & Melbourne
guar. 5 per cent.
ICO Gd. Trunk. of Canada
all Do. 6p c. Deben
all Gt. In. Pen. g. 5 per c
4 Do. New. guar. 5 p.c
all Gt. Westn. of Canada
8 Do. New
all Do. Bds., payable '57
-1,11 Do. do., '76, p. '6O
all Do. do., '73, do
all Do. do., '73, without
option
all Madras, guar. 4. P.C
all Do. do., 5 per C.
10 Do. 4) p. c. Exton.
5 Do. 3d Ex., g. sp.c.
5 Do. 4th Ex., do.
j ss. Oudo (Limited)
5 Scinde, guar. 5 per c
9 all Do ...

iii.o3

MINES.