The Sun.
London, England, 1842-10-08 00:00:00

MONEY 114ARKET and CITY Nt,ll.'js,

FROM THE MORNING PAPERS OF YES7ERDAy.
TDIES.—The proposition for limit'aig the hours of
business, at the City banking-hottses to four instead of
five o'clock, is the less liked the more it is considered
by the trading community in general. Many per-
sons think the present limit sufficiently hard upon
those, undoubtedly a numerous class, who require the
greatest exertion up to the latest moment to provide
for their acceptances, and sustain their credit; and.
the agitation of this subject revives the discuss; Alt
frequently raised in the City in periods of pectrAiary
difficulty, whether, in point of fact, the adher,nce by
duced for' 'be legally
the bankers to the hours
pwa•l3la.inierheennetauostet(oil
bale, like all
sustained,tahnedremg.uhleatthiloern ofa they
other debtors, to the consequences of a refusal to pay
at whatever period of the day the demand may bb
made. This is probably an erroneous notion, the
universal custom in this case acquiring the fore of
law ; but it is nevertheless true, we believe, that it
is not rigidly adhered to by the bankers in zene.
ral, provided that the time is not materially en-
croached upon, and that some urgent necessity for
the payment is shown to exist. In illustration
of this part of the subject, an old and well-
known anecdote in the City is repeater'. of the conse-
quences of a too critical enforcemtmt of the rule by
ono of the wealthiest banker. of that period. A ,
draught, of some importane'e to the holder, was pre-
sented as the clock wee striking five, and refused as
out of time. The 'party who was proceeding on a
journey to the Continent, and to whom the possession
happenedapi a'sts to. be
at
of the inouPy was indispensable, reported this refusal,
and the cause assigned for it, to the merchant who
thhaed
hpeaaidd
or
rinni
etahrel
ydraught,
eanLondo
dmtho n
c
instantly repaired in person to the banking-house
nine
question, and presenting a draught for the balance of
his account, which he had previously drawn out, de-
mil)n,,auitAsdieoeadhtaii nodns tstathonept
pipie(a,dyx.tmlientioi
xtrl,n,
al:nig:
.hhi
ont.uhgue
huttht
phr ere auptda,
epinfetr
art: ftubpsaaeytdtt,
the
money, and the account was removed to another house
on the day following. Another incident, also well
known, is mentioned of a nobleman who presented a
large draught at one of the banker's at the west-'end
of the, town a few minutes before nine o'clock:, but
was refused payment until the clock had 'struck.
This, however, was of less consequence, as the day
was all before him, and the utility even to ale publie
of limiting the hour flat the commencement of busi-
ness is obvtoti,;,,.as many draughts fraudulently ob-
tained, or erroneously drawn, have been stopped by
that limitation. Nor can any persons now complain
of the long-established rule of ceasing pay at fill,
to
o'clock in the afternoon, which is so universally
known that an instance could very rarely indeed
occur of any person suffering by it, unless through
his own fault. But a new limitation to four o'clock, •
or even earlier, for innovation once begun, there is
with the most serious
who have been, •
matter,
th r, saying
and wheremight
visatttoendsedto_p, is a very different
consequences to a large class of persons engaged in,
to lend their sanction to this in
represenntaetcitenr, thong
trade.On the whole,rofpornatitsne
willand otherpe rresaeosvofeirtihse,de ibtianisn.kninlotta
the Bank Directors,
silaitkrnoenili)gd•
thateltyrhsaptotre4odtheed
ehastuh:;
and tn interest which proved a-
ti ee rl
dm
to
r any
yo
joint`
0 i remainingnt
exist radius adoption. Of this there •
-is 1*
general desire to
ittle
as to the foreign merchants it wo lit ' prospect ;
conveniense Osi at least two da -.ill he a decided in-
-3' of the week, and t`
hwaLelddye,
system of day mails recently brouoi into Ilet
the hour from four to five st'll , 4 use rend.ere
mokim
commercial men extensivel 1 portant to. all
As to the reguy engaged in business.
change, that rests lotion of time at the Stock Ex-
be settled by the members different grounds, an?. may
themselves in the way they
deem best calculated to promote their own interests.
Under the t presen
the house an
_hour sooner would probably be of no
importance whatever ; but as they have to make rules
applicable to all times and seasons, they would have
to consider whether the only effect of a further limi-
tation of time during a political crisis might not be
that of extending the _gambling o: it of doors, in the
alley itself, 'which, under the pre sent limitation, is al-
ready so objectionable.. The lands are governed in
their value by political events,, and the arrivals have
become so much more freqy,ent, as well as later in the
day, since railroads have teen brought into use, corn-
.pared with the old srstem of mails, that many large
commissions dependent on the fluctuations of price,
might be left undone, or executed at a disadvantage to
the principal. Thus one of the most valid objections
to an alteration in banking hours will apply with
nearly equal force to the Stock Exchange.

We are sorry to learn that Major Muttlebury, of
sob, met with a serious accident while inspecting-
the Great Britain iron steam-ship, at Bristol, on Mon--
4iiy week. Through some mischance he fell from the
lower deck into the hold, coming in contact before be
reached the bottom with an iron beam. The Gal-
lant Major suffered no injury beyond being ldse-
verely bruised, and he is recovering as fast as could,
under the circumstances, be well anticipated•—n
vises Gazette.

DAVIDGE'S ROYAL SURREY THEATRE.
In consequence of the immense overflows,
THIS EVENING, OCTOBER
Will be acted Mr. Albert Smith's new Drama, called
BLANCHE HERIOT, which has met with most decided
success. :Seville Audely, Mr. H. Hughes ; Hugh Laneret,
Mr. N. T. Hicks; Herrick ETenden, Mr. J. Webster; Blanche
fierier, Mrs. R. !former.
After which, MY POLL AND MY PARTNER JOE.
Harry Hallyard, Mr. T. P. Cooke; Joe Tiller, Mr. R. Horner;
Mary Maybud, Mrs. R. Horner.
T; conclude with THE PLEDGE OF LOVE ; or, A
SISTER'S SACRIFICE, supported by Mr. N. T. Hicks,
Mr. W. Smith, Mrs. 'Vining, Miss Terry, &c.
Places and private Boxes to be had of -Air. J. Kerschner, at
63 Box-office, from eleven to four.

tv r• TER A'!' LONDON BRIDGE THIS DAY.
. Miniautes after 4 I Evening . 49 minutes after 4.

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