The Sun.
London, England, 1857-02-03 00:00:00

THE SUN, LON ooN3 TUESDAY EVENI G, FEBRUAiIY 3 i 657

LINES LEASED AT FIXED RENTALS.

~ ;.

RAILWAYS.

Lacia,s, • I
..!Ornpan

Closinz Prices
.1 yesterday.

London &
N. Wo,t.
Calodon...
E.U.&E.O
Gt.Nrc,
E. Count.
CaldonifA :A.

96 - 98
98 -- 102
11 - 13
133 - 135
4 ... 4i

Do
Gt. W'estn
Yk. Now.
Borw
Do
Do

1109 - m

S. Easte.-1 1
Do

12i -- 13
23 -24
108 -- 110
1 pi

Peto &Ca
Do

NorfolL,
Do
L.& N. W
& raid 14.
Stckton &
Darlingt.

21 2i

•••
92 -

En. Coun.
E. Count.
D 0...
Do.
L. & N.W
Do
Gt Northn
Lancash&
Yorksh.
T. Brassoy
BLIACIoan
Stookt. &
Darlingt
Do
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IP
56 - 58

132 .: li

33 - 34
88 90

108 i 7i
16j

50 i

20i i
25 4i

1081 9

91 i
54

5i i

121 a

37i
51

18 1

47§ i i

8
23 #

AMERICA.

Business
yesterday

LIVERPOOL, FEB. 2.

The Royal mail steamship Asia has arrived from
New York with advices to the 21st ult., and
435,880 dols. in specie on freight.
The Asia bas only brought the New York mails.
The Canadian mails would be despatched by the
Emu for this port on the 24th ult.
The steamship America, hence, arrived at Hali-
fax on the 19th ult.

The proceedings in Congress are again devoid of
general interest.
The Hon. James Harlan had been re-elected to
the United States' Legislature from lowa. In con-
sequence of the heavy fall of snow, railroad traffic
throughout the country had been almost entirely
suspended. In New York the snow-storm was so
severe as to completely stagnate business. Such
severe weather had. not been experienced for 30
years. The mercury had marked six degrees below
zero. Several vessels and some lives had been lost
on the coat. Advices from Lecompton, Kansas,
report that the territorial Legislature was in ses-
sion, but nothing important had occurred. The
Convention was still in session. Preparations were
said to be making to carry the "constitutional"
elections. None but pro-slavery men were allowed
to sit as delegates in the Convention.
The supply of money in New York was easy, the
demand light, and the tendency downward. The
rates were 9 to 12 per cent. for prime paper,
according to maturity, and 7 per cent. on call.
The bank statement for the previous week was
favourable. The business in exchange in the Asia
has been considerable, and prices a little higher in
consequence of the non-arrival of the Southern
mail. Bills oia London, 8a to 8i ; Paris, sf. 221-c.
to sf. to 211 c., 60 days ; Hamburg, 361 to 361.
The snow-storm had interrupted business in cot-
ton, but the market closed with more tone and a
fair demand for export. Flour, consequent upon
small stock, trifling receipts, and mere favourable
news from Europe, had advanced 10c., and higher
prices were insisted upon at the close ; southern
flour extremely dull, but prices a turn higher; rye
flour firm, but quiet ; corn meal steady ; wheat
better, but business light and restricted by the ice.
Rye scarce, and held at 2c. to 3c. higher. Barley
inactive.

For corn buyers had the advantage. Pork had
advanced 25c. to 50c., without any extra demand.
Beef continued buoyant. Prime mess remained
inactive. Beef hams more inquired for, and very
firm. Cut meats scarce and higher. Lard firm
at 1210. to 13c. Dressed hogs higher than for
many years. Butter and cheese in good request.
Spirits of turpentine, in face of lower prices at
Liverpool and Loudon, firm. Tar more active.
Scotch pig-iron held at $3O to arrive, and $3l six
months from the yard. Nothing done in bars.
Boiler plate 31c. at seven. months. Freights inac-
tive through the inclemency of the weather. Rates
unchanged, except for small vessels, which were
scarce, and commanded improved rates. Cotton
to Liverpool, 7-32 d. to id., closing at the higher
rate ; flour, 2s. 6d. ; to London, flour 3s.
NEW ORLEANS, Jan. 19.
Cotton, unchanged. Flour firm at $7 to $7 25c.
Pork, firm at $2O to $25 for mess.

LIVERPOOL CHAMBER ON COMMERCE.

LIVERPOOL, FEB. Q.

' The seventh annual meeting of this Chamber was held
this afternoon, Mr. Charles Holland, president, occupy-
: ing the chair. There was a large attendance of the
leading merchants and others connected with the town,
among whom were Mr. W. Brown, M.P., Mr. J. Torr,
Mr. T. Bouch, Mr. 11.- Shell, Mr. R. A. M`Fie,.Mr. C.
Bushell, Mr. Clint, &c.
The report enumerated the various subjects which had
occupied the attention of the council during the y,.ar.
The petition against the bill to a tend the law of partner-
ship bad been signed by the president and laid before the
house. The measure itself had been withdrawn. The
council, in reply to a request from the Manchester Cone•
mercial Association, had given their opinion in favour of
a compulsory registration of the names of all persons
composing partnerships. Though all the suggestions of
the council with regard to the Joint-Stock Companies
Billehad not been adopted, the more important of them
had been embodied in the act ; such as powers to local
Courts of Bankruptcy, instead of Chancery, to wind up
joint-stock companies, and more especially the appoint-
ment of official liquidators by the creditors or sharehel lers
in addition to those appointed by the court. The Joint-
Stock Companies Winding-op Acts Amendment Bill bad
been supported by the cot, toil. The act t ) amend the
laws of England and Ireland, affecting trade and com-
merce, had met with the approval of the council with
two exceptions,—first, the proposed repeal of the Statute
of Frauds, which requires contracts, for the sum of 101.
and upwards to be in writing ; and second, the clause
making a guarantee to or for a firm to cease upon a
change in the firm. The former exception was met
by the withdrawal of the chose, but the latter
was not modified in the way which the council
considered ncessary for the safety of merchants or others
receiving guarantees. The council regretted that one
valuable clause, "Presentment of a bill of exchange, if
unaccepted, to be an assignment to holders of the debt
owing from drawee to drawer," had not been inserted,
as it would have given additional security to the bill
of exchange. They also regretted the withdrawal of the
Judgments, &c., Execution Bill, but they understood
that it would be reintroduced next session. The council
themselves were about taking steps to obtain the intro-
duction of a bill to enable persons to bring actions in
any part of the United Kingdom where the cause of
actions arose, against persons residing in any other part
of the kingdom. Through the London Law Amend-
ment Society a draught of this bill had been prepared,
and the council had agreed to act in conjunction with
that society in the matter. The draught on bankers'
bills, to explain the law as to crossed cheques, had re-
ceived the support of the council and had become law.
A deputation from the Chamber had attended the Mer-
cantile Conference in London, but no report had yet
been received on that subject. The special committee
on the monetary system and Bank Charter Acts had
prepared a report, copies of which were on the table.
The Monte Yidean loan question had been settled satis-
factorily, and thanks were due to Lord Clarendon and
her Majesty's Government and to Mr. Thornton, the
British representative at Monte Video. The council had
not been in a position to move much further on the
Sound Dues question, though they generally agreed
with the Parliamentary Select Committee in the reso-
lutions of the latter, that these dues should be abolished.
Under the head of " Postal Communications," the report
noticed the commencement of the contract for the Austra-
lian mail service, the selection of Liverpool as the cargo
port for the African mail steamers, and the necessity of a
new central post-office in Dale-street. The Treasury had
been memorialised in regard to the post-office site. Allud-
ing next to the export trade, the report stated that the
exports from Liverpool during 1856 had amounted to
54,000,0001. in value, and, considering how large a pro-
portion of those exports consisted of cotton manufac-
tures, the council remarked that the threatened diminu-
tion in the future supply of cotton wool would be a
serious calamity. The extension of improvement of dock
sheds had been promoted as far as possible by the council.
No amelioration had taken place in the means of transit
to and from Manchester to Liverpool. The council were
gratified to report that the collector of Customs (Mr.
Price Edward.) had been empowered to take the neces-
sary steps to cancel the bonds given on the shipment of
certain articles during the war. The president had at-
tended the Brussels Conference, whose proceedings were
fully reported at the time in the newspapers. The
council regretted that as yet but little progress had been
made in regard to telegraphic communication with
Holyhead ; but they hoped that the dock committee
would lose no opportunity of promoting so desirable a
project. With regard to the Honduras Inter-Oceanic
Railway, to promote which the president of the chamber
had been requested to act as one of the provisional

board, the council were infornied that the directors were
most sanguine as to the realisation of a project which
would unite the interests of England and the United
States. The report alluded to the recmt visit of Lord
Palmerston, and to the opportunity thus afforded the
commercial community of Liverpool t 3 expresi, through
the chamber, their gratification at the satisfactory settle-
ment of questions which bad arisen between the Govern-
ments of this country and the United States. The library
of the chamber now contained nearly 200 volumes of a
statistical and commercial character. In concluding

. .
their report,... the council eulogised the services rendered
to the chamber by the members for the borough and the
county. The names of the retiring directors were
Messrs. John Aiken, J. Farnworth, E. Heath, Charles
Holland, H. Hornby, F. Shand, R. Sheil, and Still,
who were ineligible for re-election.
The CHAIRMAN, in moving the adoption of the report
and the statement of accounts, said some of the sub
jects mentioned in the report were disposed of in the
last half-year's report. Among those which were new
was, first, the Mercantile Conference held during last
week in London, where the question of the bankruptcy
law 4 administration formed a very prominent topic,
with regard to wkich great i unanimity prevailed
among all' the the gentlemen at the conference. All
the points o' grievance were elicited by able papers, and
the reforms agreed upon by the deputation were pointed
out and placed before Lord Palmerston. Mr. Heath
read a very valuable paper in kvour of the establishment
of local commercial courts, for compulsory jurisdiction
in the provinces. The necessity for some great changes
being made in regard to the administration of the law in
the provinces was generally admitted, and Lord
Brougham himself concluded that pact of the discussion
by the expression of his own strong opinion that the
present state of affairs could not be allowed to exist any
longer, and that the demands of the population of the
provinces—particularly of the commercial classes—that
a more speedy, cheap, and of administration of
justice in commercial subjects was absolutely necessary
and must be settled. Another question referred to in
the report was the value of the export trade of Liverpool
last year—upwards of 54,000, 0001.—something more than
helf of the entire exports of the United Kingdom. A
considerable proportion of the Liverpool export trade
consisted of cotton manufactures. A diminution of the
supply of cotton, as reported at the recent meeting at
Manchester, would be a serious calamity if means were
net taken to provide against it. He was sure that any
measures which might be put forward to encourage the
cultivation of cotton in our own colonies would receive
the support of the Chamber. In the meantime one of
their friends, Mr. Booker, who represented the West
India Aseociation in the council of the Chamber, had
intended to introduce the question at their meeting, but
he had been prevented by illness from being present to
day ; but perhaps some other member of the Chamber
would bring the subject forward. Having passed a high
compliment upon Mr. Price Edwards, the new collector
of Customs at Liverpool, Mr. Holland concluded by
moving the adoption of the report and the statement of
accounts.
Mr. W. BROWN, M.P., in seconding the proposition,
stated, as Chairman of the Atlantic Telegraph Company
and the Honduras Interoceanic Rail Nay, that the former
was expected to be in operation by June, and that he
was to proceed to London on Tuesday with the view of
inducing the British Government to fulfil its promise to
grant the use of ships to complete the soundings and lay
a portion of the cable ; and; with respect to the latter,
that the directors had been so far waiting for a change
in the money market before appealing to the British
public for the ways and means. The road, he explained,
would be well protected by France, Honduras, United
States, and Great Britain, who had guaranteed its
neutrality.
i Mr. C. BUSEIELL detailed the proceedings before the
Commercial Conference in London, taking the oppor-
tunity to pass a warm eulogy upon Lord Brougham,
stating that he had been " deeply struck with the ex-
traordinary intellect of that great man, unimpaired by
time, and as acute as ever, b'ended as it was with a
courtesy and a patience and attention to the details of
business which were most remarkable." With respect
to the bankruptcy law, the discussions disclosed the
enormous evils of that old system, by which 49 per cent.
of the assets of an estate were absorbed by the ma-
chinery for their colllection. One of the propositions
before the conference was, that there should be a con-
solidation of the Insolvency and Bankruptcy Courts—
a suggestion in which Lord Brougham eminently con-
cuffed. It was also proposed that there should be a
diminution in the number of officers, which would not
only effect a saving of expense, but would materially
facilitate the working of the estates. When the depu-
tation waited upon Lord Palmerston they received the
assurance that subjects brought under his notice should
, receive the attention of Government as far as possible.
(Cheers.)
Mr. T. BOUCH, in the absence of Mr. Booker, who
bad spent a considerable portion of his life in the colony
of Demerara, proceeded to lay that gentleman's views
on the cotton supply before the Chamber. With regard
to the colony of Demerara, he said this startling fact
presented itself. It did produce a very large supply of
cotton not many years ago, and there were at this time
upwards of 400 abandoned cotton estates--abandoned
not because they were unproductive, but simply because
there was not labour to cultivate them. At the time the
Emancipation Act was carried Demerara applied for free
labour. The feeling in this country against slavery was
intense, and justly intense, and the importation of free
labour was looked upon by abolitionists with the utmost
jealousy. It was acknowledged that that jealousy ex-
tended so far as to be very injurious, yet nevertheless
so earnest was this country to wipe out the stain of
slavery that the importation of labour of any kind was
not permitted. During this time those who maintained
the principle of slave labour were thriving ; and this
country now found that not only were its colonial interests
in a state of decrepitude, but that the country itself was
now dependent upon slave labour for the supply of arti-
cles that it could not do without ; for, besides cotton,
we were dependent upon slave labour for sugar and
coffee. The 400 abandoned cotton estates, if now
in
work, would be able to produce 150,000 bales a year ;
in addition to which there was an amount of virgin land
capable of producing sufficient cotton for our entire sup-
ply. This colony was nearer to our coasts than almost
any other colony, and the climate was salubrious. After

some further observations Mr. Bouch moved a resolution
to the effect that the Chamber was prepared to support
any measure which should appear calculated to remove
the obstalles to the introduction of free labour in our
colonies, and which should protect the free labourers
who might be introduced.
Mr. FISHER seconded the proposition.
Mr. WATSON, as an old West Indian, agreed with
everything that had been alleged with respect to the
growth of cotton in India. In Demerara and Trinidad,
he said, the plant produced cotton every year, and was
consequently perennial ; but in Louisiana and other
portions of the United States it had to be planted every
year.
Mr. FORWARD thought they should not restrict the
opera' ions of the Chamber to one colony, but that their
sanction should be given to the principle of freo labour
as applied to all their colonies.
Mr. Boucn wished the principle to be as widely re-
cognised as its importance demanded.
Mr. BUSHELL considered this question of the cotton
supply and tree labour the most important which had
ever engaged the attention of the Chamber, and referred
;o an article in the Times a few days ago which he
trusted would have the effect of arousing the attention
of the country to it.
Mr. B. A. M`FIE (the eminent sugar refiner) said the
question of free labour in our colonies was likely not
only to affect seaports and the manufacturing districts,
but every town and village in the country. The supply
of sugar was, like that of cotton, inadequate to the de-
mand, and the Country was 'likely to suffer severely from
a scarcity. He trusted that the dissemination of these
facts would have some effect upon the country in causing
it to change its views regarding the West Indies. ,
After some further discussion, the proposition of Mr.
Bouch was unanimously adopted, and the proceedings
termivated with a vote of thanks to the chairman.

Sporting Intelligence.

TATTERSALL'S-MONDAY.

Speculation on the Spring Handicaps made little
progress, and not until after the publication of the
acceptances will it be actively resumed.
CHESTER CUP.—During the early part of the after.
noon 100 to 7 was currently offered on the field ; but
towards the close 14 to 1 was booked about Leamington.
Mincepie, who had been under suspicion, returned to
100 to 6, taken ; 1000 to 20 was at first laid against
Early Bird ; finally, however, 40 to 1 was taken about
him. The outlays on the other animals were unim-
portant.
DERBY.—Blink Bonny was not mentioned ; 15 to 1
was off,re I against Loyola ; 2000 to 100 was taken
about Sydney, and Athlete and Lady Hawthorn were
well supported at 25 to 1 each ; 20 to 1 was " wanted"
about M.D. Kent made a further advance ; 1000 to
30, and ultimately 30 to 1, were taken freely about
him ; the latter odds were scarcely obtainabe at the
close.