The Sun.
London, England, 1844-07-31 00:00:00

1 agst Miss Miggs. A dead heat between Queen Mab
and Quebec, Naworth third, and Elemi fourth. The de-
ciding heat was not run when our parcel was forwarded.
The Drawing Room Stakes of 25 sovs. each, &c. 3 yrs,
Bst 71h; fillies, Bst 21b. (28 Subs.) D.R.S.C.
Lord George Bentinck's Croton Oil (Rogers) 1
Colonel Anson's Joe Lovell 2
Duke of Beaufort's Claude Frollo 0

Lord Chesterfield's CoAfighter

Lord Exeter's Algernon 0
7to 4 on_Croton Oil, who NI on by half a length. A
fine race with all.
GOODWOOD STAKES.—Betting-9 to 2 agst Franchise,
6 to 1 agst Croton Oil, 7 to 1 agst Era, 9 to 1 agst Best
of Three, 10 to 1 agst Parthian, 13 to 1 agst Elegance
filly, 12 to 1 agst Murton Lordship, 14 to 1 agst Lucy
Banks. Red Deer declared not to start for this race, nor
in all probability for the Cup.
(RECEIVED THIS DAY.)
GOODWOOD RACES—(TUESDAY CONCLUDED.)
Deciding heat for the Goodwood Club Stakes.
Mr. Payne's Queen Mab, 5 yrs, lOst 111 b
Lord Eglinton's Quebec, 4 yrs, lOst I lib
6 to son Queen Mab. Won in a canter.
The Welter Stakes of 20 sous. each, 3 yrs old, lOst 121 b,
4 yrs 12st 41b, 5 yra 12st 121 b, 6 yrs and aged, 13st.
Craven Stakes Course. Gentlemen riders. (4 Subs.)
Duke of Richmond's Pastoral, 3 yrs

Mr. John Day's Ben-y-Ghlo, 4 yrs
Lord Caledon's Auld Lang Syne, 4 yrs
5t02 on Beu-y-Ghlo. Won in a canter by 20 lengths.
The Innkeepers' Plate of 501, added to a sweepstakes of
5 soya. each ; 2 year olds a feather, 3 yrs 7,st 41b, 4
yrs Bst, 5 yrs Bst 71b, 6 and aged Bst 101 b. The
winner to be sold for 501. T.Y.C. (7 Subs.)
Lord G. Bentinck's Ape, 2 yrs
Mr. 11. Stebbing's Mainstay, 2 yrs
Mr. Crofton's Palmmon, 6 yrs
Mr. Preston's Bosphorus, aged - 3
Sir W. Don's Oh Don't, 5 yrs!
Mr. Wreford's bg by Camel, out of Margellina 0 0 dr
A good race. The winner was claimed.
BETTING AT MANCHESTER.—TUESDAY.
GOODWOOD STAKES-
-9 to 2 agst Franchise 12 to 1 agst Parthian
6 to 1 agst Croton Oil—(t) 12 to I agst Lucy Banks
7 to 1 agst The Era—taken 13 to 1 agst Elegance filly
8 to 1 agst Best of Three—(t) 15 to 1 agst Murton Lordship
12 to 1 agst Canton
Red Deer is decla.
GOODWO(
6 to 5 on Alice
Red Deer, in all probe

Lred not to start.
OD CUP.
Hawthorn.
ability, will not run.

MONEY MARKET and CITY NEWS.
FROM THE MORNING PAPERS OF THIS DAY.
CITY, TUESDAY EVENING.
TIMES.—The premium on gold at Paris is 9i per mille,
which, at the English Mint price of 31. 17s. 1040. per
ounce for standard gold, gives an exchange of 25
39 ; and the exchange at Paris on London at short
being 25 47k, it follows that gold is 0.33 per cent.
dearer in London than in Paris.
By advices from Hamburgh the price of gold is 433
per mark, which, at the English Mint price of 3/. 17s. 10id.
per ounce for standard gold, gives an exchange of 13 9 ;
and the exchange at Hamburgh on London at short
being 13 9, it follows that the price of gold is the same
at Hamburgh as in London.
The course of exchange at New York on London Li
1091 per cent., and the par of exchange between Eng-
land and America being 109 23-40 per cent., it follows
that the exchange is 0.08 per cent. against England.
But the quoted exchange at New York being fur bills
at 60 days' sight, the interest must be deducted fron
the above difference.
The English market has been rather languid to-day,
speculators selling on the news of the Otaheite affair,
published at length in the Times of this morning, which,
considering present high prices, was natural enough ;
but although a correspondence between the two Govern-
ments may follow, there is a general belief that Sir
Robert Peel and M. Guizot are too wise to allow the
matter to betray them into a compromise of peace by
disturbing existing friendly relations.
The Shareholders of the New British Iron Company
held a meeting to-day, at which a report from the pro-
visional Committee was presented, giving a satisfactory
statement of the progress of the works under recent ma-
nagement. In fact, it appears, as was observed by the
Chairman in the course of the business, that every en-
deavour has been made to put the concern in a profitable
train, means having been taken to get rid of the pro-
perty which did not seem likely to promise a return,
and the money laid out in improving that which would.
During the last half-year the manufacture of pig iron
at Rhuabon was 5,135 tons, in Staffordshire 8,329 tons,
and at Abersychan 2,865 tons, making a total of 16,329
tons, which was an average of 628 tons per week. About
800 tons per week was now the average of manufacture ;
before long it was expected it would reach 1,000 tons
per week. No accounts were laid before the meeting,
the terms of the deed of settlement stipulating that
they should be made up on the 30th of September in
each year, but when they are presented the Directors
say they hope to be enabled to declare a dividend. As
far as present prospects are concerned, they regard the
progress of affairs as encouraging, because with the ar-
rangements they have made in Wales, and the neigh-
bourhood of their other properties, they can compete
with the iron masters, and secure a profit even at the
current reduced prices. The works not yet being in
full operation, and the past duties of the Committee
having in a great degree been devoted to inspection and
improvement, the next meeting appears to be looked
forward to in the belief that it will show a very im-
proved condition of affairs. It was stated that the pre-
sent amount of capital agreed to be called would, under
the terms settled with the old Company, be amply suffi-
cient for the purchase of the property, as well as furnish
funds to carry on operations.
The meeting of the Proprietors of South Sea Stock
will be held to-morrow (this day), to take into conside-
ration the terms offered by the Chancellor of the Exche-
quer. At this meeting it is expected there will be a
contest between the Directors on the one hand, and a
portion of the Proprietors on the other, the former re-
commending that the Company should continue working
on, as at present, after the concessions have been made
to the Government, and the latter being for a dissolution
of the Company altogether. We have yet to learn what
will be the arguments in favour of continuance, but the
wishes of the other party have often been expressed.
These would petition Government to incorporate the
Old South Sea Annuities into Reduced Annuities, and
the New South Sea Annuities and the "Annuities,
1751," into Consols, 100/. Consols to be given for 1001.
South Sea Stock, which, with the guarantee fund, would
be 1161. 13s. 4d. Consols for every 100/. South Sea
Stock. There would then, they say, remain the balance
arising from surplus capital, &c., to be divided among
the Proprietors, which would be above 5 per cent. bonus
on the stock, after an allowance to the clerks now em-
ployed. These points, together with the consideration
of the Government proposition, will, from what we learn
out of doors, be discussed at the meeting.
The advantages that would be afforded to commerce
by connecting the Atlantic and Pacific Oceans by n
canal that might be navigated by the largest ships are
obvious to all ; and it is the supposition that all scheme;
for such connexion are impracticable that causes them
to be less generally regarded than the benefits they pro-
mise would seem to demand. A passage through Cen-
tral America would throw open an easy and compara-
tively short communication with the north-western coast
of the southern continent, would facilitate the approach
to the Australian colonies, and allow of a new route to
China. However, such appears to be the magnitude of
the undertaking, that there is a general disposition to
look upon all projects for connecting the oceans with
distrust.
Setting aside, however, the general doubt, and ad-
mitting the scheme of communication to be practi-
cable in some shape or other, opinions seem to be di-
vided among three plans—the Panama passage, that
by the' hake of Nicaragua, and that by the Isthmus of
'Tehuantepec, in the Mexican territory. To this last
plan attention has lately been called by Don Jose de
Garay, who has published a pamphlet containing the
results of a survey, undertaken under the auspices
of the Mexican Government, and setting forth his pro-
ject in very full detail. As to the feasibility of the
scheme, on that, of course, we can offer no opinion, but
the pamphlet itself, which is fully illustrated•by maps, is
entitled to commendation, as being one of the completest
things of the kind, The foundation of Don Garay's
project is the cessation of the cordillera of mountains
near the solarce of the Chicane, and a number of neigh-
bouring riv ers. This leaves a table-land about Tarifa,
composed o f a soil which is easily- excavated, and densely
inhabited b: y an active population, whose labour can be
obtained at a trifling outlay. Don Garay would cut two
trenches—ome from the Ostula to the Chicapa ; another
which, beg inning a little above the " Ultimo Rancho,"
would dire ect the waters to the immediate vicinity of
Tarifa. 'I 'o explain the workings of the scheme fully
is impossible without reference to accurate maps of the
spot, such as those which accompany the pamphlet, but
the genera I object is to connect the great river of Coat-
zacoalcos, which flows into the Gulf of Mexico, with
the Chical which flows into the lagunes adjoining the
Pacific, an d affording the advantage of an excellent har-
bour. Th e total cost of the work Don Garay estimates
at 85,000,1)00E, or upwards of 3,000,000/. sterling.
The ath ,antages which, according to this "survey,
are offerer l by Tehuantepec over Panama and Nicaragua,
consist in the nature of the soil, which allows of easy
working, : and the healthiness of the place. Panama is
considered almost as a charnel-house, so dangerous is its
climate; while Nicaragua, although fertile, healthy, and
not defioient of population, would require the excava-
tion of ,the hardest rock. The pamphlet is worth read-
ing, not only with a view to the examination of the
scheme, but for the local information which it contains.
The !following correspondence between the Committee
of Spat ash American bondholders and Senor Mosquera,
the Minister for New Granada, contains nothing what-
ever to satisfy the creditors of Colombia. All that they
can lea rn is, that at present there is no information to
be obtained from Senor Mosquera:—
" 13, Austin-friars, July 25.
" Sir, —The Committee of Spanish American bond-
holders having received numerous applications in re-
spect to the claims of the British creditors of your Go-
vernmeiat, I request you will inform me whether any and
what s teps have been taken to carry into effect the
agreement which the agents of the bondholders con-
cluded with the Government in March, 1842.
" The agents of the bondholders wrote to the Com-
mittee under date of the 24th of March, 1843, stating
that a project of law was then before Congress to em-
power the Executive to arrange the settlement of the
foreign, debt.
" Si;ace then the Committee have received no official
comm enication from their agents ; and they are there-
fore anxious to learn, for the satisfaction of the bond-
holders, what measures have been taken, either by the
Legislature or the Executive, with a view to the adjust-
ment of this long-pending negotiation.
" The Committee take this opportunity of requesting
that you will also inform them what is the total amount
of the maittAnce* received by you towitrds the payment