The Sun.
London, England, 1845-01-02 00:00:00

MONEY MARKET and CITY NEWS.

FROM THE PIORNING PAPERS OF THIS DAY.
CITY, WEDNESDAY EVENING.

TIMES.—This has been a day of some excitement in
the Share Market, on account of the notice issued by
the Board of Trade on the subject of the proposed rail-
way extensions. As far as feelings in the CUy can be
ascertained, they aro generally in favour of the Board's
decision, and the manner in which they have communi-
cated it, simply stating the results at which th y have
arrived, without entering into the particular merits of
the question as regards any particular undertaking.
The Commissioners appear to have acted on a distinct
principle, as their present announcement shows—viz.,
that of taking the country divided between the two great
lines of the Great Western and South-Western Rail-
ways. The decision in favour of the extensions pro-
posed by the Great Western in preference to those
proposed by the South-Western seems to be generally
considered favourable to the public at large, and to
maintain the best line of road. The consequence of the
announcement has been that the shares of the Great
Western Company have advanced, while, on the other
hand, those of the South-Western Company (espe-
cially those recently issued) have been depreciated.
It has had, moreover, the beneficial effect of check-
ing reckless speculation in many undertakings uncon
nected with these, since the parties interested are more
cautious in their operations now they see the prudent
and clear manner in which the counsels of the Board
are directed. From the sample of the business just
given it is now expected that the remaining sections of
the country through which railways are proposed to pass
will be disposed of in a similar manner, and there is
reason to hope that in the selection hereafter to be made
results equally judicious will be obtained.
Another feature in the act of the Board of Trade
that receives general commendation is its publicity.
A few days ago we pointed out the danger which would
ensue if the Board communicated its decisions to a few
individuals, who might be able to take advantage of their
exclusive information, instead of addressing the public
generally. By publishing their determinations in the
Gazette in the first instance, the information is obtained
at the same time by all to whom it is of interest.
The fluctuation of prices in the Share Market shows
a rise in the value of Great Western and Bristol and
Exeter, both of which have considerably improved, the
Board of Trade accepting the principal extensions of the
Great Western Company, and the rejection of the Yeovil
and Exeter line saving the Bristol and Exeter Company
from competition. '1 he shares of the Great Western
Company trom 74 to 76 premium have risen to 78 to 80
premium, and the shares of the Bristol and Exeter have
improved from 69 to 70, yesterday's price, to 73 to 75
to-day. Original South-Western shares have been pretty
well supported, though in the early part of the day they
were flat. The new 401. shares, however, from 81 have
Lot, back to 3to 6. their last price. Much business is
transacting in the Fr, uch lines of railway. A purchase
of 1,000 shares in the Great North of France line was
made to-day at 24 premium.
SUN.—The English Stock Market closes flatly, ou
account of the decline at Paris on Tuesday, owing
to the expected change in the Cabinet. Consols were
1004 4 ; New Three-and-a-Quarter per Cents., 1031 4;
and the Three per Cents., 10044. India Stock was rather
higher.
Spanish Bonds also receded, the Five per Cents. being
274 4, and the Three per Cents. 364 4. The Coupons
were 274 to 264. Brazilian New Bonds were 861, and
Portuguese Converted, ex divid-nd, 60 to 594. Mexican
were 354 4. French Scrip I.c-ceded to 14 premium.
The additional transactions in Railway Shares have
been these :—Birmingham and Gloucester were 5 ;
Bristol and Exeter, 5; Ditto and Gloucester, 124; Ches-
ter and Holyhead, 4 ' • Churnet Valley, 2to l ; Corn-
wall, I ; Dublin and Belfast, 24 to 24; Great Southern
and VVestern (Ireland), 54 ; Great estern, 80 ; Lan-
caster and Carlisle, 44 ; Birmingham, 129 ; Brighton,
21 4 ; South-Western, 334 ; Ditto, Eighths, 18 ; Ditto,
New, 3; London and York, 24 ; Lynn and Ely, 14 ;
North British, ; Norwich and Brandon, New, 34 ;
Richmond and West-end Junction, 14; Shrewsbury and
Birmingham, ; South-Eastern, 81 ; Trent Valley, 8
to 741; York and North Midland, 54 to 4; Ditto, Half,
264 ; Ditto, Selby Scrip, 484 Boulogne and Amiens,
3 to it • Lyons and Avignon, 4- ; Orleans and Bordeaux,
6to 4 ; Paris and Lyons, 14 ; Paris and Rouen
214 4 ; and Paris and Strasbourg, 14 to 1 premium.
Caledonian have been ; Eastern Counties, 91 to a ;
Blackwall, 94 to 84 ; and West London, 134 discount.

OCCUPATION of the NEW ROYAL

EXCHANGE BY THE MERCHANTS.

This interesting event occurred yesterday, and the
muster on 'Change, though the day was not a post-
day, was very considerable. In consequence of the
intended occupation, all the avenues were completely
opened. The only arrangement we noticed which
had any novelty about it, was that by which the ad-
vertisements and announcements of the sailing of
ships, which used to be affixed generally to the walls
of the old Exchange, are now pasted upon neat
boards, which are hung up in the recesses of the
merchants' area. These boards are all of one size
and character, and seem calculated to prevent the dis-
figurement which the old system involved.
The temporary Exchange in the court-yard of the
Excise-office will soon be dismantled of its roof and
other fittings; and we perceive, by an announcement
affixed to the posts supporting the roof, that the
materials are to be sold, and that the proceeds will
be devoted to the principal City charities.
The merchants generally seemed to be perfectly
satisfied with their new quarters, and quite ready to
join in the general congratulation to Mr. Tite, the
architect, on the very successful termination of his
labours. Some of the merchants still seem to think
that all the Exchange ought to have been roofed like
the Bourse at Paris ; but, as we have before observed,
that is a question the merchants determined them-
selves, by a large majority, before the Committee tiok
any step in the matter ; and tlf.) common opinion
appears to be that the majority were right, for though
a roofed hall might be convenient at this time of the
year, in the summer, and particularly in wet weather,
the heat and steam would be insufferable. Some of
the merchants complained of draughts of cold air, an
evil w hich, we are informed, it is intended to remedy
by the introduction of inner doors, should the incon-
venience be found to he important.

The Birmingham tin-plate and sheet-iron trade,
which gives employment to a large proportion of our
population, is in a very flourishing condition, if we may
lodge by the supply of orders and the scarcity of hands.
A stove manufacturer informed us yesterday that he
could not obtain a sufficient number of men to execute
his orders, and that, while last Christmas a written no-
tice in
his window would have brought a shoal of appli-
cants in a few hours, it is now next to impossible to ob-
tain workmen.—Birmingham Journa4 .