The Sun.
London, England, 1844-04-13 00:00:00

NAVAL INTELLIGENCE.

PORTSMOUTH, APRIL 10.—The British Sovereign
freight ship, with stores and troops, for the Cape of
Good Hope, arrived on Sunday from the river, and
embarked upwards of I'2o soldiers from Parkhurst
barracks, Isle of Wight, being detachments to join
regiments serving in the east. She sailed this day
for the Cape of Good Hope, Mauritius, and Ceylon.
The Admiralty yacht Black Eagle, Mr. S. B. Cook,
Master commanding-, arrived from ork on Tuesday
evening, came into harbour, where she will await„,fur-
ther orders.

It is reported here that the Malabar, 72, Captain
Sir G. Sartorius, has arrived at Plymouth from the
Mediterranean, but instead of coming to this port to
he paid off, as was expected, has been ordered to Cork,
having, like the Vernon, taken in a reinforcement of
Marines, to join the squadron of Rear-Admiral Bowles.
A detachment of Marines is also ordered frEm Chat-
ham, for the same destination.
NAVAL BOAT PRACTICE.—This afternoon, the
weather being delightfully fine, and the water smooth,
the inhabitants of this famed port were gratified by
the exhibition of a mimic engagement at the mouth
of the harbour. Seven boats, well manned and armed,
belonging to the flag. ship St. Vincent, came out of
the harbour about 2 P.M., and when abreast of the
Platform battery, opened a sharp and vigorous fire
upon each other. The launch and the pinnace, the
former-commanded by the flag- captain of the port (R.
F. Rowley), mounted large guns in the bow and
stern, apparently 12 •pounders, which, together with
the musketry, gave the practice the appearance of
reality. The large guns are adapted to these boats
upon a new principle. They
are made to ship and un-
ship in a way heretofore, we are informed, unpractised.
Thus they are fitted with the improved slides, by which
with the use of an inclined plane, the guns can, in a
few moments and with less trouble and labour than
in any way before experienced, be converted into
ballast by removal into the bottom of the boat, and
can be as quickly remounted. Such an unusual sight
drew some hundred, of persons to the ramparts of the
town, who were highly gratified spectators of the mock
gallantry of our modern tars. This kind of practice
is admirably adapted to bring seamen forward in this
mode of naval warfare, and infinitely preferable and
better calculated to inspire an ambition to enter
the service than the dull monotony of the daily avo-
cations in a guard-ship. The tars themselves seemed
much invigorated by their exercise. The squadron
having tacked about for upwards of half an hour,
much to the delight of th- assembled multitude, pulled
into harbour, and returned to their ship. The exercise
w:11 be frequently repeated.

Lord and Lady Hamilton Chichester left Farrance's
Hotel, Belgrave-street, yesterday for Malta.

MONEY AND COMMERCIAL NEWS.
_ _
__ CITY, FRIDAY EVENING.

The Funds leave off steadily, Consols being at 1001
to both for Transfer and Account. Exchequer Bills
maintain the rise to 765. premium. The New Three
and-a-Half per Cents. were 104 to I.
Spanish Bonds left off at 261 for the Five per Cents.,
and 371- for the Three per Cents. Portuguese Con-
verted were done at 46k ' • Mexican were fiat at 35.;,3;
Belgian impruved to 104 f; Danish to 884 i; and Dutch
Two-and-a-Half per Cents. to 618.
The additional transactions in Railway Shares have
been these :—Bristol and Exeter were 4; Caledonian, i;
Chester and Holyhead, 24 ; Great Western, 35 ;
Harwich, 8 to 1; Birmingham, 135 to 134 ; Brighton
Loan Notes, 11 to 1; Manchester and Leeds, Half, 183-;
ditto and Birmingham, Bto I; Newbury, to 1; North
British, II; Northern and Eastern, 131; South-Eastern,
28 to i; Yarmouth and Norwich, 6 to i; and Rouen
and Havre, 178 to premium. Eastern Counties have
been 108; and Strasbourg and Bale, 24 discount.
The rate of exchange on Frankfort was rather lower
this afternoon, but on the other cities it was about the
same.

(From The Sun of Last Night.)
There was a dull market for cotton at Liverpool yes-
terday, and the light advance of Monday was entirely
lost. Sales 3,000 bales—viz., 200 Surat, at 3id. to 4d. ;
100 Maranham, at sj-d. to 6d. ; 100 Pernanas, at sid. to
61d. ; 20 Egyptian, at 71d. ; 100 Bahia, at 64-d. ; and
the rest American, at sd. to 7d. for Orleans. Shares
were firm.—Birmingham and Derby, 62 ; Caledonian,
51. Bs. 6d. ; Chester and Holyhead, ; Dublin and
Cashel, 5-1 ; Edinburgh and Glasgow, Quarter, 161 ;
Eastern Counties, 121 •, Grand Junction, 234 ; Paris and
Lyons, 34 ; Paris and Orleans, 36i ; South Eastern,
New, 5i ; Paris and Strasburg, 2/._ 16s.

Accounts have been received from New York this
morning, but only one day later, in point of date, than
those before obtained. The " annexation of Texas"
question appears to be likely to create many divisions
among the various creeds of politicians ; indeed, almost
as general as the " factory question " has caused here.
.The following is a summary of the state of the commer-
cial markets in New York:—

" Within a few days there has been four arrivals of
packet-ships from London, Liverpool, and Havre, all of
which had very heavy and valuable cargoes. The
largest proportion of the cargoes coming in at this sea-
son is composed of dry goods, of foreign manufacture.
These goods come into the market before the trade of
the country has exhibited any evidence of its extent.
Before the jobbing hoases knew whether the trade will
be double or treble what it was last year, or that it will
only be to the same extent, they lay in large stocks of
goods at the first prices of the season. We notice a
great number of new names in the business section of
the City, most of which are young houses, composed
principally of those who have had but little experience
in the dangers arising from overtrading. There are
very few of the old houses in existence that weathered
the gale of 1837 and 1838 ; in fact, very few came
through those times unscathed. All were crippled and
cramped in their resources. The present race of dry
goods jobbers do not perfectly understand the ramifica-
tions of trade, that gradually lead that class particularly,
into the troubles and difficulties that assuredly lead to
ruin and bankruptcy.
" Competition is the life and soul of trade; without it
monopolies would eat up the substance of the consuming
classes, but rivalry in business often leads to extremes,
and all parties are made bankrupt together. The fever
is daily increasing. Our jobbing houses have adopted
the same extravagant system of securing customers that
was practised to so great an extent in 1836. Our hotels
are run down with drummers, who pounce upon a
country merchant with all the avidity of a bird of prey.
These drummers are supported at an immense expense;
they have the run of the city, and liberally supply their
customers with all kiwis of recre-ation and amusem.-ne
without any other charge than can be found at the foot
of their bills. These efforts to secure custom, rs lead to
large sale, and extenth.d credits. The aim is to do as
larce a busia-ss as potsiole, and outdo their neighbours.
The quantity sold appears to be more of an object than
.the standimt or the buyer."
It must be concrded that the recommencement of the
go-a-head" system is not very satisfactory to cautious
dealers.

Tile Proprietors of the West India Mail Steam Coln
pany were pleased, as Kell th.-y shoulttl be, with" the R.•-
port and proceedings at the meeting hell yesterday.
The perseverance of the Court of Directors, of the com-
manders of the steamers, and its other principal officers
(not forgetting the anxious and ut.remitting attention of
the Secretary, Mr. E. Chappe'l), have brought. this im-
portant enterprise into a safe harbour, after, at one
period, the probability of its being made a wreck.
Those who have watched the ,progress of the Company,
and its at one time manifold s, can otil) appre-
ciate its present position and future pi-, spects.
We have letters and papers from the Cape of Good
Hope this morning, to the 16th of February. It is
stated that Sir George Napier had determined to
retire from the duties of his office at the commencement
of the present month. The report at the Cape
was that Sir Cohn Campbell would take the office, and
that, ad interim, the Lieutenant-Governor would perform
official duty. The Etbers were about to meet to excite dis-
content against the British Government. The rising im-
portance of Nat al, now a British colony, is much dwelt upon.
In Colesburg, and other parts of the colony, very heavy
rains had fallen. Sergeant Mullin, of the 91,4 Regi-
ment, had lost his life in an attempt to cross a river ; his
leave of absence having nearly expired.
The purchases by the Commissioners this morning
were in the Three per Cents. Reduced, at 994. They
took from 20,000 t to 30,0001. The Consol market is very
firm, and the tendency is most decidedly to advance,
although the fluctuations have been rather frequent this
morning. Consols for Money have been done at 104
and i • for Account at 100 - and I. The New Three•
and-a:Half per Cents. at 104/ and 104 ; and the Re-
duced Three-and-a-Half per Cents. 1031 and If. Bank
Stock has receded from 2004 to 200; and Exchequer
Bills from 765. to 745.

The settlement in the Consol Account has gone off
very well to-day. The rise in prices since its commence.
ment has been full 31 per cent.
In the Foreign Funds not much business was done
to-day. Spanish Actives were firm, at 261 ; and the
Three per Cents., at 371 1. Dutch, Mexican, and the
other Bonds in which transactions have been reported,
are very nearly at yesterday's rates.
The dealings in the Railway Shares have been rather
numerous this morning, but the prices have not varied
to any extent requiring especial notice.
MANCHESTER STOCK EXCHANGE, APRIL IL--Our
market continues firm, and a good business was done.
Eastern Counties have been in considerable demand at
higher rates. Caledonian, si; Eastern Counties, 121;
Ditt), Registered, 141 ; Lancaster and Preston,
391; Manchester and B.rminghant, 494 ; North Union.
1.071; Paris and Rouen, 374; Sheffield and Manchester,
71; Ditto, Quarters, 81; Dublin and Cashel, 61. Is. 3d.
and 6/. Manchester Assurance, O.
CLOSING PRICES.