The Sun.
London, England, 1844-01-30 00:00:00

&lONE Y AND COMMERCIAL NEWS
CITY, QUAANTE.R T(; THREE-
The Cotton Market at Liverpool }-Nterday was very ani-
mated, and prices advanced id. per ib.—,tales,
viz., 2,500 Surat at 30. to 4-id.; 500 MaraCham at 5,14' to
6d. ; 500 Bahia at 60. to 66d. ; 1,000 Peruvi:. 15,000 bales;
in at 64d. to
; 1,000 Egyptian at 64d. to Bd. ; and the rest, Am erican,
at sd. to 6-id. per lb. Speculators took 8,000 b..'les•-"lrdt
Shares the transactions were limited. Birininghatu' an
Gloucester were 704 ; Eastern Counties Extension, 3 preO•
Great Western Half, 714 ; Brighton, 45 ; South Westert?
'Eighths, ; Manchester and Leeds, 109; Paris and Orleans,
324; and Ditto and Rouen, 914,
The intelligence received &OM the United States this
morning by the Ashburton to the WO) inst. is not very im-
portant in a commercial point of view f but as respects the
" good faith" in monetary matters, unquestionably emitter
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 Wild hlf
the decision be large losers, if the dicta be upheid,
to the extent of at least, as understood, 500,000 dollars:
other establishments will be also heavy sufferers, by the new
of obtaining decisions of Courts of law to set -uide 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
COMPANY.
" Some weeks since Assistant Vice-Chancellor Sandford de,
tided the case of Leavitt, receiver, v. Tylee and others.
"By this 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 Tyke 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.
"The 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. 11;e Bth
section provides that no conveyance, &c., not authorised by
a previous resolution of its Board of Directors, shall be mac.!.
by any such corporation, of any of its real estate, or of any
of its effects, exceeding the value of 1,000 dollars. The 9t
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 we
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
Tylee Trust. The Holford and Co. trust was made
after the injunction, and the Bank of England trust, about
the time the hill 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 led
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 held 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 :f
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 Englana
trust, Thomas G. Fulmage, as President, attempts to transfer
to himself and Richard M. Blatchford, as trustees, 500,00°
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 far
the saving banks, or the redemption of the debt is not PA
now known. The amount taken was 20,000/. Consols at 974•
Consols for Money have been transferred at 974, but are noir.
at 974 ; and for the Account at 974, after having been WAG
at 974. Bank Stock has again realised 196. In the eal, •
part of January, 1842, this security was quota!
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 be°
slight to-day.
To-morrow is the Account day in the Foreign Stock.
market, and the principal business now is the adjustment
accounts. Spanish Consols have ruled heavy, the price
having fallen from 234 to 224, and the Three per Cents. fel
Money at 3143 ; Portuguese Converted have been sold at 4711!
Belgian at 1053 ; Dutch Two-and-a-Half per Cents., at
55; the Five per Cents. at 1014. Mexican at a. fall file'
344 to 334 ; and the Deferred Stock to 104.
A considerable amount of business has been done in the
Share Market, and generally at slightly advanced prices.
BRITISH FUNDS THIS DAY AT ONE O'CLOCE•
(From the Of List.)
Bank Stock
3 per Cent. Reduced Annuities 1954 196 ieb I°4l
993 ii
3 per Cent. Consols. Annuities
34 per Cent. Reduced Annuities
New 34 per Cent. Annuities lOl6
Long Annuities, Expire sth Jan. 1860
India Stock
India Bonds, 1,000 ....... .
Ditto under 1,000
South Sea Stock
Ditto New Annuities 9si
Consols for Account
Exchequer Bills, lid. 14d.
1000/. ... 69
500/.
69 pm.
Ditto Small
FOREIGN FUNDS THIS DAY AT ONE O'CLOCIC'
Belgian Bonds, 5 per Cent
Mexican Bonds, 1837, 5 per Cent......,... 344 334
Ditto Deferred Stock lOl
Portuguese Bonds, 5 per Cent
Ditto Converted . . 474
Spanish Bonds, Five per Cent.
Ditto Deferred l3i
Ditto Three per Cent.
Ditto for the Account 3lll
t Dutch 24 per Cent. bb
Dutch 5 per Cent.
PRICES OF SHARES THIS DAY AT ONE •
a • ILWAYS. Paid. Per Share.
&Stern Counties
Ditto New .. ... 25
DO: Extension
Gravesend, Rochester, Chatham 24 23 to
London and Brighton -
London and Greenwich ... 121.. bit .
London and South Western 41% ... to --
Ditto Eighths .. 24 to -
London and Croydon ( Trunk)... 13i l7 to ""*"
Norwich'and Brandon
Northern and Eastern
Paris and Orleans
Paris and Boren 20
South Eastern and Dover
Ditto Scrip;~. t...
JOINT STOCK BANKS. •

t ustralasia -
London Joint Stoek lO ...... In__ to ---
Provincial Bank. of Ireland 25 -r,
MANCHESTER STOCK EXCHANGE, JAN. 29.---OUr I.
ket continue§ firm, with a fair business doing. The fontti°. —,
ing are the transactions of the day: Eastern Coun.c.A;
Registered, 121 ; Do., Perpetual, 15s. premium ; "tal • ,
burgh;and Glasgow, 59 :I; Manchester and Birinine,n(l
39i ; Manchester and Leeds, Half, 49 ; bheftiela "-
Manchester, 61.

CLOSING PRICES.
BRITISH FUNDS.
.$79 P.
Rank Stock
3 per Cent. Red.
3 per Cent. Cons 97i Ditto Old Annuities... 1f
3i per Cent. Red lO2l Ditto New Annuities.. 9es
New 31, per Cent 101; Ex. Bills, 1,000/. lid.' 40 „ii
New 5 per Cent.
Long Annuities to expire Ditto Small ..... "'",,,
Jan. 1860
Oct. 1859
Jan. 1860 ......

FOREIG
A utrzan, 5 per cent. —
13elgian, b - - cent

FUNDS.
Portupese, b per ern.-
Ditto, N - Dir

-eigan, o per Atte, New . Ditto ......•••
Brazilian Bonds IPrussian, 5 per cent.
Bianos Ayres 6 per cent 331 I Russian, 5 per eent.....•
Dalian, 6 per cent. — 'Ditto, Metiae . . ... •"'
Colombian, 6 per cent Spanish, 5 per cent. ....• .1
Ditto, 1824 — Ditto, 3 per cent ........ {db
Cuba Bonds, 6 per cent lll Ditto, Deferred.... •.;
Danish, 3 per :eat. — French, 5 per cent. -1
Greek, 1825, 5 per cent. Exchange ......
Mealear, 5 per cent.
Ditto, 6 per cent. 1837 , Dutch, 21 per Cent. .%I'4,
Peruvi an, 1825,6 per et. Ditto, to per cent.... iv'',
SHARES.
Birmingham and Derby (100 paid) ..........64
Bristol and Exeter (70 paid) .. . lOl •
Eastern Counties (23 paid)
Ditto New Shares (25 paid) ..... ......
Edinburgh D it Ditto 12
013ws(4bod ppaaiidd))...
......... 60:
El
atzeidn'Gilnasg(
Gravesend, Rochester, and Chatham (21 p) 19
Great Western (75 paid) '" 711
Ditto Half Shares (50 paid)
Harwich Exiensipu (2 paid) ... ........... • 461
London and Brighton (50 pa d) ........
London and Blackwell (161 13s 4d paid) ,14
London and Birmingham ( —paid)........
Ditto New Thirds ( 2 paid) ...... . 77
London and South Western (4116. iodpd) 2
Dit to Eighths (15s. paid)
London and Croydon Railway (Trunk) 01 •
Lancaster and Carlisle (5
Manchester and Leeds (70 paid)
Manchester and Birmingham (40 paid)
New( astle and Darlington Junction(ls pair ssi
Paris and Orleans (20 paid) .. ........... 111
( Rouen and Han* 6 paid) .........
South Eastern and Dover (50 paid) ....•• 37
Ditto Scrip (25 paid)
York and Scarboro' Branch (21 paid)
is witb di °I
LATI DEATH or LORD DOXYGLAII.--It
es the deli vell
and sincere feeling of regret that we Willoun-- Ditto
this excellent and much esteemed Nobleman. his _
Castle, Hamilton. For a considerable tune Pa_B7ind deTtedL
ship has been in delicate health, and the diee,3s:hie oto_'7.ll
gradually increased until halfpast one o'clock
when his Lordship breathed his last. Lord Y°°.6.„'"-ef
in 1773, and was, consequently, in the 710._ IZ-rev, !,ibe
He succeeded his father, Archibald, the firs.l,i_f,. brethe4.of
The heir to the title and estates is his Lordship Aso'
lion. Charles Douglas, who has long been in r'"
health.---Glasgow Constitutional of Saturday
tar banquet ttfo„
Sir Robert Peel's grand Parliarnen..i e given °loot
morrow evening, in Whitehall-gardens, ,arty 01 the
picture gallery at his splendid mansion, riucludiltr (of
thirty members of the House of Commons, Dfep.r_„a),
mover and seconder of the address (Lord tdi""
ber for Cliteerer,
North Shropshire, and Mr. Cardwe:l, Mercier the Spfrio
Sir Edward Knatchbull (Paymaster-Gen t.i,Ltain
Right Hon. H. T. L. Corry, and the HnoTiritigi'lrti 13. Pirciehv
Gordon (Lords of the Admiralty), ll° • vLrdnartrionY•
Colonel Peel (Surveyor-General of the 11, Right k (S
Hon. Sir H. Hardinge, Mr. Milner K
Gas de sir G.
E. Gladstone, Sir Thomas Fremantle, aZ. Idrs:torneY
cretaries to the Treasury), Mr. Gr• "
Sutton, tbc•
ibr,lre"
tinting, Sir. A. I rn4,le,
)• , - f. ral root
uene
and Solicitor Generals, &c. AttqueLA by Wry
land (Mr. Smith) being detained in ise"'""
official bawls, =not attend. Clerk 13.