The Sun.
London, England, 1850-01-23 00:00:00

MONEY and COMMERCIAL NEW.
CITY, QUARTER TO TIIRE E.
The F ales of Cotton at Liverpool ye.q relay :lore es-
timated at 30,000 ha'ei, of which 21,500 were taken on
speculatlon. The sales comprised 24000 American ;
500 Brazil, at bid. to 7d.; 500 Egyptian, at 64d. to 131 d.;
3,500 Surat, at 4id. to skd.; and 50 Sea Island, st lid.
to Is. 2d. per lb. Compared with Fricay's rates, prices
of American were id. to V., and Brazil, Egyptian, and
Surat id. per lb. higher.—Railway Shares were firm.
The awelerated pace at which the involved affair c,f
Mexican finance is explained and re-explained, may
render it somewhat difficult to the less-aaatchful bond-
holder to follow the correspondence, and arrive at a
just conclusion, but we think we can hold out a reason-
aisle hope of an early and satisfactory solution. Like all
other investigations, the result must, in one sense be
gainful, since the real state of the case will be ascer-

tatted, and which, to us, appears promising, although
matters are not yet positively established on a satisfac-
tory basis. Whether the meeting at the London Tavern
now being held, will result in the formation of a new
committee expressly to attend to the Mexican debt, a
few hours will show, but it is certain that, from various
causes, a large number of the bondholders are dissatisfied
with the present administration, and that greater ac-
tivity, increased facilities for the obtainment of informa-
tion by the creditors, and other changer, will be requisite.
If the bondholders would at once determine upon the
appropriation of a few hundreds per annum, their work,
either with the new or old committee, could to much
better done; and long since, in railway coml anies for
example, has it been discovered, that tint aid, underpaid,
or irregularly paid officials, arc, for various reasons,
the dearest. To keep our readers fully au courant of
affair?, we subjoin an imported le•'ter from Mr. William
Parish Robertson, the late special envoy in Mexico of
the English bondholder?, and his announced secession
from the old committee will not, perhaps, surprise those
who were aware of the position in which he has lately
stood towards his colleagues. We cannot but regard
Mr. Robertson's decision as judicious under circum-
stances. The Equador creditors will likewise find mat-
ter of interest in the communication, which is as fol-

lows:—
" Equatorian Consulate-General, London, Jan. 22.
"Dear Sir,—Your circular note of to-day informs me
that the committee will meet on Friday, the 25th, and
you will much oblige me by then laying this communi-
cation on the table. •
"Among several reasons which have determined me to
resign my seat at the board of the committee, I think it
necessary only to mention two.
"lst. A note has been addressed to-day by the com-
mittee to Colonel Facie, the financial agent of the
Mexican Government, calling on him to deliver up
funds towards the payment of Mexican dividends, and
yet declining to recognise him in his official capacity.
Now, as Colonel Facio's appointment was expressly
sanctioned by a written agreement entered into by the
Financial Minister of Mexico and myself, as Com-
missioner of the Mexican bondholders, I could but
stultify my own deed by becoming a party to a note ad-
dressed to Colonel Facio, denying the competency of his
appointment.
" 26. Having received, in my capacity of Consul-
General of the Equador, new instructions from the pre-
sent Executive of that state to continue my services here,
and to endeavour to bring about an arrangement of the
foreign debt of the Republic, I have, after mature deli-
beration, and in fulfilment of my duty, determined to call
shoitly a meeting, of the Equatorial bondholders, with a
view of requesting them to appoint a committee of their
own, with which I can frankly co-operate in carrying
out tie wishes of the Government which I. represent.
" You will accordingly please inform my late col-
leagues that I have to-day ceased to be a member of
their body.
" I remain, dear sir, your obedient humble servant,
" WM. PARISH ROBERTSON.
" A. Godfrey, Secretery of the General
Committee of Spanish American Bond-
holders."
The parties t,) whom the fourth instalment of the
Mexican dividend is due are not likely, we hope, to be
ktpt much longer out c f their money. Colonel Facie,
tbe financial agent here of the Republic, has come boldly
fdrearcl, and while proving what to us appears the dis-
crepancy in the accounts rendered at different periods
by Messrs. Schneider to the Mexican Government, he
promises unequivocally that if the late agents can show
any fair claim against his Government it shall be dis-
charged, without being deducted from the sums re-
mitted for the creditors. Further explanation must
ensue, and we hope speedily to announce that this part
f the qua tion is settled. As to the future prospects of the
bondholders, with steady remittances, with the assurance
of the support of Lord Palmerston, and with increased
energy on all sides—for we gise the Mexican Govern-
ment great credit for its exertions since the war—there
is no reason to doubt of their being most cheering. The
following is the letter of Colonel Facio :
"Sir,—l feel it my duty, the Mexican Minister at this
Court being on the Continent, to write a few lines in
answer to the letter of Messrs. Schneider and Co., pub-
lished in the newspapers of the 19th inst., which I re-
que: t you to give place in your columns.
" Messrs. Schneider and Co. say it is not true that
they are provided with funds to pay the fourth of the
dividend due; but the following will prove that the state-
ments of the Finance Minister in Mexico, and of the
Minister at this Court, are quite correct.
" Messrs. Schneider and Co. irdormei the Finance
Minister, on the Ist of September, that the amoun* of
the new bonds and certificates
_issued to that date was
only 7,906,2071.
The fourth of the dividend due on this
sum is £49,413 15 0
According to the ac-
count published, the
said Messrs. Schne-
ider and Co. had, in
April last £44,666 3 4
June remittance, per
Severn
July do , per Thames 4.124 4 6
Nov. do., per Calypso 261 12 10
Nov. do., eer Trent 6,944 6 10

£57,627 15 4

Balance in favour of the Government ...X8,214 0 4
"The Fit. &nee Minister was not mistaken when he
said that Messrs. Schneider and Co. had sufficient money
t ) pay the fourth of the dividend due on the converted
part of the debt, and ordered them to deliver t.) me the
balance in favour of the Government.
For the misconception and the serious error alluded
to in the kt•er of Messrs. Schneider and Co., the Finance
Minister is not accountable—
" 1. Because on the Ist September, Messrs. Schneider
and Co. informed the Finance Minister that the amount
of the new bonds and certificates issued to that date
was only 7,906,2071., and three months afterwards (on
the Ist December last) they said it had been 10,040,972 F.;
" 2. Becauie ,they have insisted upon finishing the
conversion, and upon paying the dividend on the whole
debt, when the only act of agency !Wowed them to per-
form was to pay the fourth duo on the said 7,906,2071.;
" 3. For the claims produced now, for the first time, of
2,1321. 155. paid to O'Brien, Esq., and 1,2621. ss. Bd. for
inteie-t on the Legation draf s.
" But it will be seen that Messrs. Schneider and Co.
still have sufficient money to pay the one-fourth of the.
dividend due:—
Amount required for the payment of the
remaining one-fourth of the dividend £64.650 8 3
The balance unprovided for to complete
that sum is said to be
Chargeable against the last
sum, viz., the commis-
sion Messrs. Schneider
and Co. have charged on
the whole dividend. £2,560 8 0
Bill paid to O'Brien, Esq 2,132 15 0
Ditto interest on Legation
drafts
Interest on 200,677/11. of
Bonds not issued before
the Ist of Sept., which
Messrs. Schneider and
Cc. are not allowed to
issue, nor to pay the di-
vidend
on them

10,972 7 2

Balance against Messrs. Schneider
and Co.