The Sun.
London, England, 1844-01-31 00:00:00

HONE Y AND COMMERCIAL NEWS

COMPANY.
‘-‘ Some weeks since Assistant Vice-Chancellor Sandford de
cided the case of Leavitt, receiver, v. Tylee and others.
"By {his decision the Tylee Trust was set aside, and the
trustee ordered to re-convey the property to the receiver.
The grounds upon which this decision was made were these :
1. Because the conveyances to Tylee were made in violation
of the Bth and 9th sections of the title of revised statutes, re-
lating to Monied Corporations.' 2. Because made after the
bill was filed against the Bank, upon which the injunction
was granted.

" important and material question decided in this case
is, that the provisions of the Bth and 9th sections of the title
of the revised statutes, relating to "monied corporations"
(1 Rev. Stat., p. 593), are applicable to banking corporations
formed under the general banking law of 1838. The Bth
section provides that no conveyance, &c., not authorised by
a previous resolution of its Board of Directors, shall be made
by any such corporation, of any of its real estate, or of any
of its effects, exceeding the value of 1,000 dollars. The 9th
section declares that no conveyance made by a corporation,
in ',contemplation of insolvency,' shall be valid in law; and
every person receiving. by means of such conveyance, any
effects of such corporation shall account, therefore, &c.
" This decision is important, inasmuch as it has, as lir•
understand, a direct bearing upon, and application to, the
other seven trusts created by the officers of the Company.
" Two of these trusts were made, one for the benefit of
Holford and Co., and another for the benefit of the Bank of
England, under substantially similar circumstances as the
Tvlee Trust. The Holford and Co. trust was made
after the injunction, and the Bank of England trust, about
the time the bill was filed. Neither of these two trusts
were authorised by any vote of the Board of Directors ; but
both of them purport to be made, as in the case of the Tylee
Trust, under the authority of the Committee of Investments
and Finance. It is not pretended that either of the said
three trusts was created under or in pursuance of any pre-
vious vote of the Board of Directors, or that any subsequent
vote of the Board sanctioning the same was ever passed. The
last meeting of the Board of Directors, as appears by their
minutes, was hold on the 4th of June, 1841, more than two
months before either of the said three trusts were created.
" The Holford and Co. trust embraces assets amounting to
a sum exceeding 45,000 dollars, and the Bank of England
trust assets and securities amounting to about 500,000 dollars.
" We are informed that, as to the last two named trusts,
the receiver contends that, they are illegal and void :
First, because made without any authority whatever of '
the Board of Directors ; secondly, because made by officers
after the bill was filed, upon which the order for a receiver
was made ; thirdly, because made in contemplation of in-
solvency ; and fourthly, because in the Bank of England
trust, Thomas G. Fulmage, as President, attempts to transfer
to himself and Richard M. Blatchford, as trusteee, 500,000
dollars of the assets of the Company."
This is a pretty specimen of the honesty of a fractional
portion, at least, of the monied interest of America.
From Canada there is nothing of interest, either politi-
cally or commercially speaking. The steps of the Governor-
General, as respects the Council, were watched with much
interest.

The Funds have this morning receded on the value of
yesterday. The Commissioners took stock, but whether for
the saving banks, or the redemption of the debt is not just
now known. The amount taken was 20,0001. Consols at 97#.
Consols for Money have been transferred at 97k, but are now
at 97i ; and for the Account at 91, after having been sold
at 97#. Bank Stock has again realised 196. In the early
part of January, 1842, this security was quoted
only at 172, showing a rise of 24 per cent. within about
twelve months. In the other Stocks, as well as in Exche-
quer Bills and India Securities, the variations have been
slight to-day.
To-morrow is the Account day in the Foreign Stock
market, and the principal business now is the adjustment of
accounts. Spanish Consols have ruled heavy, the price
having fallen from 23h to 22k, and the Three per Cents. for
Money at 31:14; Portuguese Converted have been sold at 47i ;
Belgian at 1051; Dutch Two-and-a-Half per Cents., at
55; the Five per Cents. at 1011. Mexican at a fall from
34ilt to 33i • and the Deferred Stock to 104.
A considerable amount of business has been done in the
Share Market, and generally at slightly advanced prices.
MANCHESTER STOCK EXCHANGE, JAN. 29.—Our mar-
ket continues firm, with a fair business doing. The follow-.
rfigTare-the'tiansactions of. the day:—Eastern Counties,
Registered, 124 ; Do., Perpetual, 15s. premium ; Edin-
burgh . and Glasgow, 59 1; Manchester and Birmingham,
39-1 ; Manchester and Leeds, Half, 49 ; Sheffield and
Manchester, Gl.

CLOSING PRICES.
BRITISH FUNDS.
Bank Stock
'3 per Cent. Red. • 984 Ditto Bonds
8 per Cent. C0n5...... 97i Ditto Old Annuities •-,-
3/1 per Cent. Red....... 1021 Ditto New Annuities 951
New 3/1 per Cent
New 5 per Cent.
Long Annuities to expire Ditto Small .-. ... 69 pin
Jan. 1860
Oct. 1859
Jan. le6o ...... - Consols for Met...... 97i
FOREIGN FUNDS.
A istrran, b per cent. ... i Portuguese, 5 per cent. --
ittlgian. b per cent — Ditto, New Ditto —
Brazilian Bonds ... ...... Prussian, 5 per cent —
13 Banos Ayres 6 per cent 331 Russian, S per eent
Dhilian, 6 per cent — Ditto, Metallic . .... -.-
Colombian, 6 per cent... Spanish, 5 per cent 23/
i fitt o 1824 Ditte, 3 per cent 3l/
Ctilia Bonds, 6 per cent 111 iDitto Deferred.... .
Danish, 3 per :ent — French,i ..-
5 per cent..-f. —c.
Greek, 1825, 5 per cent !Exchange ...... .... —f. —e.
tiaiicai , 6 per cent 341 , French, 3 per cent. —f. --c
Ditto, 6 per cent. 1837 --- !Dutch, 2i per cent. 55
Pernvian. 1825,6 per ct. !Ditto. 5 per :wilt.... loi 4
SHARES.
Birmingham and Derby (100 paid)
Bristol and Exeter (70 paid) .. ..... . ...
Eastern Counties (23 paid) loe
Ditto New Shares (25 paid) .....
Ditto Extension (13s 4d paid)
Edinburgh and Glasgow (50 paid) BO
Gravesend, Rochester, and Chatham (2ii p) 3
Great Western (75 paid) ... Ilk
Ditto Halt Shares (50. paid)
Harwich Extension (2 paid) .. .. 2i
London and Brighton (50 pa d) .
London and Blackwall (16/ 13s 4d paid)
London and Birmingham ( paid )........ 244
Ditto New Thirds ( 2 paid) ...... ....
London and South Western (411 6s Iodpd) 771
Ditto Eighths (15s. paid)
••• 2i
London and Croydon Railway ( Trunk) ... 16/
Lancaster and Carlisle (5 paid)..,...
Manchester and Leeds (70 paid) ... . 110
Manchester and Birmingham (40 paid) 391
Newcastle and Darlington Junction(ls paid` 31
Paris and Orleans (20 paid) ....
Rouen and Havre ( 6 paid) 111
South Eastern and Dover (50 paid) ......
Ditto Scrip (2.5 paid) _ 37

York and SiarborO' Bran
COURSE OF EXCUAN
Amsterdam CF. 12 6
Ditto, at sight
Rotterdam ..... ....2 U l2 61
Antwerp "25 95
Hamburgh M.8.13 15
Altona
Paris, 3 days' sight 25 70
Ditto, 3 months 25 90
Marseilles
.Bourdeaux 25 95
Frankfort on Maine 122
Petersburgh, 3 Us.
Berlin
Vienna, effec. IL 3 M 956
Trieste, ditto 9 56
Madrid

(24 paid)
GE.-(YESTERDAY.)
`Gibraltar
Leghorn 30 80
Genoa 26 95
Milan
............ 47
Naples
Palermo, per oz 1181
I isbon
Oporto 521
Rio Janeiro 23
Bahia
Buenos Ayres
New York, 21days sight
Philadelphia
(PRICES OF BULLION, PER OZ
'Foreign Gold, bars £3 1 7 9

361
Cadiz 36*
Bilbao 36
Barcelona
Seville

PorttigalGolii Coln.. 3 17 5
New Doubloons .....0 0 0
New Dollars... .......0 4 9.4
Silver in Bars... . .... 0 4 '

Pugilistic contests between Horridge and Jemmy-
from Town, Tom the Greek, and Simmonds, near Birming-
ham ; M'Phee and M`lienna, near Glasgow, will be re-
ported in Bell's Life in London, of Monday, Feb. 4. The
memorial relating to Qui Tam actions regarding horse-
racing, coursing, and other manly sports, was given at length
in Bell's Lie of Sunday last, Jan. 28.1
LATE DEATH OF LORD DOU6LAS.—It is with a deep.
and sincere feeling of regret that we announce the death of
this excellent and much esteemed Nobleman, at Bothwell
:Castle, Hamilton. For a considerable time past his Lord-
Ship has been in delicate health, and the disease and debility
gradually increased until half-past one o'clock this morning,
when his Lordship breathed his last. Lord Douglas was born
in 1773, and was, consequently, in the 71st year of his age.
He succeeded his father, Archibald, the first Baron, in 1827.
The heir to the title and estates is his Lordship's brother, the
Hon. Charles Douglas, who has long been in a
.poor state of
health.—Glasgow Constitutional of Saturday.
Sir Robert Peel's grand Parliamentary banquet
this evening, in Whitehall-gardens, will be given in the
picture gallery at his splendid mansion, to a party of about
thirty members of the House of Commons, including the
mover and seconder of the address (Lord Clive, Member for
North Shropshire, and Mr. Cardwell, Member for Clitheroe),
Sir Edward Knatchbull (Paymaster-General), the Speaker,
Right Hon. H. T. L. Corry, and the Hon. Captain William
Gordon (Lords of the Admiralty), Hon. William B. Baring,
Colonel Peel (Surveyor-General of the Ordnance), Right
Hon. Sir H. Harding°, Mr. Milner Gaskell, Right Hon. W.
E. Glad:tone, Sir Thomas Fremantle, and Sir G. Clerk (Se-
cretaries to the Treasury), Mr. G. W. Hope, Mr. H. B.
Baring, Mr. A. Pringle, lion. H. T. M. Sutton, the Attorney
and Solicitor Generals, &c. The Attorney-General for Ire-
land (Mr. Smith) being detained in Ireland by important
official Vasia-eis, cannot stout

Cirv, TUESDAY EVENING.
The funds closed much the same as in the morning.
Consols being 973 to 4 both for Money and time. India
Stock touched 2771, and all the other securities remained the
same as in the Morning.
The Spanish Active Bonds were a little better than at ten
o'elbck, being 234. Mexican declined to 334, but in Buenos
Ayres there was a further advance to 331 to 4. Portuguese
Oonverted again touched 474.
The additional transactions in Railway Shares have been
these :--Birmingham and Derby were 38, Bristol and Exeter
11' Eastern Counties New 13, Brighton 31, Blackwall 103 to
Manchester and Birmingham to 4, and South Eastern 14
discount. Edinburgh and Glasgow 9to 10, Great Western
361, Birmingham 144, ditto New Thirds 40, Manchester and
Leeds 40, South Western 353 to 364, Newcastle and Dar-
lington 16, Rouen and Havre 54, South Eastern Scrip 113 to
12, and York and North Midland (Scarborough Branch) 17
premium. London and Westminster Bank Shares were 4*,
Provincial Bank of Ireland 16, and Union Bank of Australia
2 premium.
The rates of exchange upon several of the continental
cities were to-day slightly better.
(Vsom The Sun of Last Night)
The Cotton Market at Liverpool yesterday was very ani•
mated, and prices advanced Ad. per lb.—Sales, 15,000 bales;
viz., 2,500 Surat at 33d. to 44d. ; 500 Maranham at 54d. to
6d.; 500 Bahia at 64d. to 63d. ' • 1,000 Peruvian at 64d. to
74d.; 1,000 Egyptian at 64d. to Bd. ; and the rest, American,
at sd. to 64d. per lb. Speculators took 8,000 bales.—ln
Shares the transactions were limited. Birmingham and
Gloucester were 704; Eastern Counties Extension, 4"W prem.;
Great estern Half, 714; Brighton, 45; South astern
Eighths, 24; Manchester and Leeds, 109 ; Paris and Orleans,
324; and Ditto and Rouen, 314.
The intelligence received from the United States this
morning by the Ashburton to the 10th inst. is not very im-
portant in a commercial point of view; but as respects the
" good faith" in monetary matters, unquestionably another
instance is shown of the extension of the foul principles of
" repudiation," as the following extract from a late paper
will fully demonstrate. The Bank of England will by
the decision be largo losers, if the dicta be upheld,
to the extent of at least, as understood, 500,000 dollars;
other establishments will be also heavy sufferers, by the new
plan of obtaining decisions of Courts of law to set aside trust
deeds made for the benefit of distant creditors, on the plea of
illegality. The information contained in the following will
be read with disgust by all honest men :
" NORTH AMERICAN TRUST AND BANKING