The Sun.
London, England, 1842-03-29 00:00:00

MEXICO AND TEXAS.

The relations between these countries are still in a
very unsettled state. A report by way of New
Orleans, states that the Texians had had an engage-
ment with the Mexican forces in Rio Grande, and
had slaughtered or captured about 500 men. But
this resting on report only seems questionable.
REPORTED SLAUGHTER OR CAPTURE OF 500 MEXl-
CANS.—Captains Andrews, of the schooner C.C. Za-
briskie, from Matamoras, reports thus :—Having cleared
and dropped down from the town, was detained, and
some Mexican passengers returned to stay at home over
night. On coming on board the next day, they reported
that official ne Ns had been reported that‘there had been
a fight somewhere up the Rio grande between the
Texians and Mexicans, in which the latter lost 500 men,
except two out of that number, who escaped and brought
the news down. There may be something in this, and
probably is ; but we had not been previously advised
that there was any considerable number of troops, either
Texian or Mexican, congregated near the Rio Grande of
the plain.—N. C. Bulletin.
MOBILE, FEB. 22, 1842.—The Texas Navy which is
composed of one ship, two brigs, and a schooner, is
commanded by Capt. Brown, who in fact is the owner of
the whole, (the Texas Government not having paid for
them.) Captain Brown sailed from Galveston about
November, under the orders of President Houston, to
Sisal ; Commissioners from Yucatan having invited the
visit, ter concert a project in order to obtain from
Mexico the recognition of the independence of both
states. On the arrival of Captain Brown at Sisal, he
found it necessary to proceed himself to Merida, in the
interior, and prudence pcompted him to seize the Alcade '
of Sisal and four other distinguished persons, and send
them on board his ship, as hostages for his personal
safe return. He, however, found that ho had been
duped, and that his hostages alone secured his personal
safety and return to Sisal, where he filially sent on shore
the prisoners, and took possession of four Spanish ves-
sels then in port, with two armed schooners, belonging
to Yucatan, and departed. More recently he has, with
his squadron, visited Tobasco, where he captured two
more schooners, and was finally off Vera Cruz, and
had there also taken two schooners, the four latter be-
longing to the Spaniards. Thus it appears that he is
making war on Mexico, with questionable authority, if:
not on his own hook.
COMMERCIAL NEWS.

NEW YORK MONEY MARKET.—MARCH 7.
The Treasury notes of the Federal Government were
protested to-day to a large amount: Several thousand
dollars were presented by different holders at the Bank
of Commerce and also at the Bank of America, and the
fact that no provision had been made to meet them, was
the subject of much conversation and excitement. The
Treasurer of the United States, Mr. Selden, is reported
to be in the city attempting to make a provision against
further protests, and to save the credit of the Govern-
ment, but in this we fear heis rather too late, as the pro-
test of these notes must lessen the credit of those already
coming into market, and raise the rate of discount.
Treasury notes already being below par, Custom House
dues are paid altogether in such notes, and thus the Go-
vernment can collect here no means of redeeminF them.
There is no other remedy for all this, but the raising of
a sufficient revenue. There must be higher duties, and
these laid on soon, or the Treasury must soon be utterly
bankrupt. It is, therefore, hardly worth the while for
Members of Congress to be debating about the princi-
ples of " protection," when the most pressing necessities
of the country compel that amount of duties, which is
generally adequate protection. "
" Resumption " does not turn out to be so bad a busi-
ness for the Banks in Cincinnati as they expected. On
the Ist inst. all the Banks there were paying specie.
Previous to this they began to check upon New York at
a low rate, and on the 26th ult. the rate was 7 for funds
taken on deposit by the City Banks, and 5 to 4 for City
Bank paper. Later, the City Banks were checking
liberally at from 2 to 3 per cent. below their own paper.
The resumption law does not oblige the Banks to pay
specie on their deposit's, and the opinion prevailed that
they would continue to do business on Kentucky and
Indiana paper.

The Banks that agreed at the Convention held at Co-
lumbus, to resume on the 4th March, were the Com-
mercial, Franklin, and Lafayette Banks or that city—
the Ohio Life Insurance and Trust Company having
never suspended—the Danko or Zenia, Dayton,. Clinton

Bank of Columbus, Circleville, Commercial Bank of
Scioto, Marietta, Muskingum, Zanesville, St. Clairsville,
Mount Pleasant, Farmers' and Mechanics' Steubenville,
Columbiana Bank of N. Lisbon, Western Reserve,
Geauga, Massillon, Wooster, Norwalk, and Sandusky.
The rate of Philadelphia is improving. Sales at only
xi per cent. diec. On Baltimore also the rato is better.
RATE OF SALES AT THE STOCK EXCHANGE.
1,000 Dole. Illinois Bonds s 3 181
6,000 Ditto New York Sixes, 1861 Bl
2,000 Ditto Indiana Bonds l9
60 Shares Delaware and Hudson
20 Ditto Auburn and Syracuse R.R.
20 Ditto Mechanics' Bank
.. 621
20 Ditto Union Batik
25 Ditto Bank of Commerce .. b 7 ds 86i
15 Ditto Erie Railroad ...
200 Ditto Phenix Bank . 65
20 Ditto State Bank .., 67
60 Ditto Farmers' Loan 213
5 Ditto Canton •••
60 Ditto Harlem Railroad
25 Ditto Boston and Providence Railroad ...s 60 82/
••• 25 Ditto New Jersey Railroad s6o 61
125 Ditto Patterson
50 Ditto Mohawk s6o ds 45
60 Ditto Long Island Railroad
SALES AT THE SECOND BOARD.
2,0000 Indians Bonds
10 Shares Mohawk Railroad
PHILADELPHIA SALES OF STOCK, MARCH 7.
2,600 Dols. States Fives, 1856 ... 493
1,200 Ditto States Fives, 1859...
4,000 Ditto United States Bank Notes ... 43
37 Shares United States Bank
10 Ditto Mechanics' Bank
20 Ditto Farmers' and Mechanics' Bank
Rro DE JANEIRO, JAN. 15.—The arrivals here since
the Ist are six, with 6,428 barrels Flour, 343 packs do-
mestics and sundries. The only cargo sale of Flour is
1,350 bbls New Orleans that proved very good at 1411.
Baltimore Is offered at 1311500. The offers by the large
buyers are still 1211 and 1011. An auction sale has been
made of 1,250 packs domestics at rather lower prices
than in November and December—some holders are de-
mantling higher rates. The market is so overstocked
with every article of import, that sales are difficult if
et ruinous prices. It is also difficult to find store room.
Coffee arrives slowly—superiors sell at 311800 a 411100,
--Good first dry at 311500 a 311700. Exchange, 29d.

NEW YORK BOARD OF BROKERS.
(From the New York Herald.)
We displace and omit several articles which we had
prepared for to-day's paper, is order to give place to
the following novel, interesting, important, amusing,
serious, and singular document, which was yesterday
presented! to the Court of Sessions by the Grand Jury.
At the close of their arduous and valuable labours
during the past term, the highly respectable mem-
bers• of the Grand Inquest of the City and County of
New 'York, came into Court and presented to his
Honour the Recorder the following singular but im-
portant document : -
TO THE HONOURABLE THE COURT OF SESSIONS OP
THE CITY AND COUNTY OF NEW YORK.
The Grand Inquest for the City and County of
New York, respectfully present ;
That they have, as instructed by his Honour the
Recorder, in his charge, proceeded to inquire into
and -investigate the transactions of the Board of
Brokers,•and upon such information as they have been
able to obtain, make the following representations and
suFgaetions relating thereto :
That the reported sales of stocks, as published in
the newspapers, are generally correct as made at the
Board ; but that they do not always indicate the true
value of the stocks.
That the transactions of the Board are orderly, and
that a correct record is kept of them by the Clerk of
the Board.
That heavy operations are frequently made at the
Board for persons out of the city, and that a large por-
tion of these are of a mere speculative character.
That most of the members of the Board buy and sell
for their own account, both on time and for cash ;
that some, however, do not, and are opposed to both
time sales and transactions for their own account ; and
that some even refuse orders from strangers, unless
good reference be given—always orders from known
speculators.
That the most ready time operators are those of
doubtful credit.
That by a law of the State contracts are not bind-
ing unless the party making the sale has the stock in
his possession at the time the contract is made.
That it is a rare thing for the party making the
time sales, to be in possession of the stock at the time.
That a large portion of the stocks reported sold,
are never transferred on the books of the respec-
tive institutions to which they are said to pertain.
The difference in price being settled between the par-
ties by due bills.
That time sales are made for citizens who are not
members of the Board, and that brokers frequently
suffer by the failure of their principals. Cases have
been instanced where some have been ruined in their
business and others have lost immense fortunes.
The Grand Inquest have been informed that there
are systematic operations among speculators in stocks
termed " hammering," calculated to injure and de-
ceive innocent holders and purchasers. This busi-
ness is originated and consummated by a combina-
tion formed and associated to depreciate some par-
ticular stocks in market. To instance the process
and its effect, we will suppose that the intrinsic
value of the particular stock to be one hundred
dollars per share. A real holder, necessitated to
realise, directs his broker to offer it at the Board
at this price. Then commences the " hammering"
operation. Immediately the same stock is offered on,
time at 98, and at six months at 91. This same pro-
cess is repeated day after day, and the quoted price
appears on the stock list as low as 80 or less. Trans-
actions of this kind often commit members of the
Board for Stocks to an immense amount, and thus
their feelings become naturally enlisted with those
who are technically termed BEARS. Efforts to pro-
duce this artificial depreciation are at times, it is said,
continued with untiring industry for month after
month, until stockholders are alarmed, and the com-
munity give credence to statements having no founda-
tion in facts. Thus the innocent and uninitiated are
prompted to sacrifice their property at severe losses.
Sales of this and similar character are confined to, and
so much with the brokers, that fifty and sometimes
twenty-five, suffice for a whole day's transaction, in
which there are actually transferred some five or six
hundred shares of stock ; and finally, at the end of
the day, the stock is found in the name of the same
broker by whom it was started on its circuitous jour-
ney in the morning.
The Grand Inquest have also been informed that
there is an operation technically termed "cornering,"
frequently practised among those who deal in stocks.
This is elected by a combination, possessing itself of
the entire stock of an institution, while the same
combination, has heavy time contracts coming due ;
thus having, in fact, due from others, that which is
not in market, and which can only be supplied by the
party making the purchase. This results in enhancing
the price much above its real value, and at this en-
hanced price the stock reposes ordinarily in the hands
of innocent purchasers who are duped by the strata-
gem. The directors of such transactions are termed
BULLS.
The Grand Inquest are fully aware of the inefficacy
of additional legislation in restraining the speculative
disposition of those concerned in the mere exchange
of marketable commodities. So long as there are
stocks to buy and sell, so long will abuses, to a
greater or less extent, exist. The very nature of
the article termed stocks has produced in all coun-
tries assemblages of persons, surprisingly shrewd
and active, and stimulated by an ever rest-
less desire to gain by fluctuations, to which
that species of property is always liable. And to
the thing itself, rather than the Board of Brokers,
must the community look for the cause of our demo-
ralisation, the chicanery, the artifices incident to the
traffic in stock and other paper securities. The ef-
fectual remedy for the evils to which his Honour
the Recorder so properly referred, is, in the opi-
nion of the Grand Inquest, the purification of the
moral sentiment which has become diseased by the
feverish and deceased nutrition incident to the u-n-
-due quantity of stocks of all descriptions which
has of late years been created. In addition to this,
the Grand Inquest with earnestness recommend, and
in their recommendation they are sustained by the
opinions of practical men, that the Board of Brokers,
in obedience to the popular will, discourage the prac-
tice of the purchase and sale of stocks on time ; and
that the Legislature repeal the law rendering time
sales null and void, believing the repeal would have a
most salutary tendency. The Grand Inquest would
further state, that while the Board of Brokers are not
a chartered body, so far as their transactions par-
take of the character of auction sales, they enjoy pri-
vileges and immunities incident to bodies corpo •
rate alone. In their sales at the Board, so far as
those sales partake of the auction character, they are
subject to no State tax, while auctioneers pay 1 per
cent. The withdrawal of this indirect protection,
should the authorities deem it expedient, by reducing
the tax on stocks sold at auction as low as one-tenth
of one per cent. would, in the opinion of the Grand
Inqueit, prove most beneficial. We feel bound to say
that the Board of Brokers has freely offered us every

SPORTING.ofhe month ere the
To record the proceedings
month terminates, may appear a somewhat liibernian
measure. So accustomed are my sporting readers,
however, to Newmarket Heath on this day, Easter
Monday, that I fear many a murmur will escape over
the breakfast table at the legal postponement for a
fortnight of their hobby, the Craven Meeting being
the legitimate commencement of the racing season.
To fill up the vacuum, then, I, in some degree, an-
ticipate this day's Tattersall's (for on Thursday every
one will be at Croxton Park), and will endeavour to
command their attention about thirteen minutes and
a half.
Attila—On the first public day Attila fell from 7 to
9to 1, offered in every quarter of the room. On the
10th he was again in force. Very little was done
about him on the three succeeding days, for he was
neither backed or pounded (a phrase intelligible to all
I wish to understand me) ; but on Thursday last
symptoms of retirement were visible, and I calculate
8 to 1 might have been obtained to a very consider-
able sum. The wiseacres, Ido not mean horses, who
7 to 1 before Christmas, now see their folly ; the
winter just over, and 8 to lis easier to be obtained
now than 7 to 1 when I spoke of the audacity of the
takers.
The Lord of Holderness, brother to Hornsea, is
second favourite. At the beginning of the month no
person would take any odds you could offer. A
sporting bootmaker, as we read, got on a large stake
between the 7th and 14th inst. On this latter day he
was backed at Tattersall's to win 26,000 at 65 and 50
to 1. In my notes of the transactions at the corner
since, I observe against the name of this horse " all the
rage," " backed furiously," &c., the meaning of which
I need not, I believe, explain.
Auckland, the property of, and named by, the
Marquis of Westminster, came (for, like the Lord of
Holderness, he was for some period altogether absent)
again on the 7th. His enemies appeared alarmed,
but they were not absolutely astonished, until William
de Fortibus won at Warwick. Ho has even now a
strong party, but, in my humble opinion, he is much
too good a horse to back at present. Of his reported
trial I spoke in my last.
Chatham seems to have been foaled solely that there
might be one more instance of the misfortunes attend-
ing the Gallant Colonel's stable, as far as it is con-
nected with the Derby. Although backed heavily
at 20 to 1 about the middle of the month, his position
is far from enviable. That so good a horse should be
sick at such a period is sincerely regretted by your
correspondent, especially as he ventured to speak so
highly of him at the close of the last season.
Wiseacre was laid against very freely at 40 to 1
on the 3d, and backed quite as eagerly by the same
party at 30 to 1 on the 7th ; in very great force on
Monday last, when 5 to 1 was laid on him against
Chatham. His friends are sanguine, his enemies nu-
merous and powerful. The former evidently specu-
late on his winning the 2,000 guineas stakes, and with
good reason, the field being moderate, as far as they
can tell.
The Dirce colt, like the most of the horses trained
by John Scott, has seen 25 to 1 taken freely : it was
but for a day, and he now occupies his old✓ position.
I have never seen him, but he is reported to be a se-
cond Red Cow, such being the nickname of Mundig.
Dener was in force at 35 and 30 to 1 in the begin-
ning of the month, but Barrier has scarcely been
named, even to be coupled with one of the favourites,
as was his predilection throughout the month of Fe.. •
bruary.
Canadian, the horse that broke a small bone in his
leg last October, has been much fancied and heavily
backed by a gentleman considered by your excellent
reporter as an influential. On the 10th he was
booked to win 23,0001., at odds varying between 40
and 66 to 1 : on the next day such a price was not to
be had, and 40, and even less odds, were taken. This
horse is responsible for a very large stake of money,
and, foi the sake of the noble owner, I hope the small
bone in his leg will just forget to break again.
Palinurus was much talked of, and more backed in
October. Among the miscellaneous reports so indus-
triously circulated during the winter, one was that
this horse had broken his back. It would break his
back, and mine too, to carry all the money he has
been backed to win. I hear we shall see him run for
the column, and in the presumed absence of Chatham,
he has, apparently, only to beat—
The Acacia colt, the property of Mr. Batson, and
a remarkably fine colt he was, when I saw him at
Newmarket, in the Houghton meeting. lie is own
brother to Potentia, the mare that beat John
o'Gaunt in a canter across the flat. He has a select
party, including some first-rate judges, and most for-
tunate speculators.
Espartero' the property of Mr. Thornhill, has been
backed a good deal, quietly, during the winter. On
Monday last the express had arrived, and 50, 40, and
35 to 1 were taken as long as layers could be found.
A mare in the same stable, Equation, has also been
backed in the course of the month to win some
30,0001. at 100 to 1. The public will not bare the
latter evidently, as the same people who lay the latter
odds against the mare are backers of the horse at the
odds above, and last quoted.
The Joanna colt---ye gods I low they back the
horses in Scot's lot. On the 7th, I should say that
this horse was backed to win at least 30,0001. at 50 to
1 ; and I do not forget the sums of money invested
about Christmas. I cannot pay Lord Jersey, or his
trainer, so ill a compliment as to accept this hors.
upon any terms whatever. The public may have him
if they will, I will not. •
Meteor, of course, comes again. Having never been
under 40 to 1, is quite sufficient reason why the
public should back him again; but where are the
Artful Dodger and William Le Gros ? horses backed
to win no mortal knows what, within the last eight
weeks. I have scarcely heard their names mentioned
since my last Monthly Report.
Ballinkeel, Robert de Gorham, and Moss Trooper,
have been in slight request. Among the very out-
siders that have been named, are Gobbo, the horse
that ran second at Warwick ; Sir Gibert's lot ; the
Frederica c., one of John Day's ; Mr. Allen's Bel-
coeur, beaten off at Doncaster ; and Lord George
Bentick's Tripoli, beaten off, carrying a feather, at
Newmarket. Fresh horses appear to spring up like
mushrooms, and not omitting to state that Forth's lot
have been at different times heavily, backed, I will
add that I am prepared to see great "and frightful
changes. If I was compelled at this moment to select
from the field the number of horses likely to see Ep-
som, rather to pass the judge's chair, I confess the
list wouldstartle you. The Craven Meeting will en-
lighten us wonderfully.
I believe I shall have occupied the time of the read-
er as long as I bargained for, if I add the
ENGAGEMENTS OF TIIE FAVOURITES AND OTHERS
BACKED TO WIN THIS BROBDIGNAG DERBY.
Attila is engaged in a 100 soy. sweepstakes on
Wednesday in the First Spring Meeting. Barrier,
Nuncio, Palladium, and six others are entered. Also
in the 113,7de Park Derby (Hippodrome) Meeting,
Misdeal, Mule, and ten others.
Auckland is in a produce stake at Chester. 'W
probably walk over, as the field is bad.
Wiseacre is in a 100 soy, stake on Thursday,
Craven Meeting, with Barrier, Defier, Canadian, Es-
partero, Chatham, and others. Also in the 2,000
Guineas Meeting, Robin, Meteor, Timoleon, and
some dozen or more that have never started. Also in
a produce stake at Bath, with Barrier, Defier, Nessus,
and others.
Chatham is in the Tuesday's Riddlesworth Meet-
ing, Gunter, Reversion, and Trampoline f. Also fol-
lowing day in the column with Palinurus, Acacia c.,
Eusebia, and a lot of others. Also the following day
in the 100 sovsistakes, vide 'Wiseacre. And in the
First Spring in the Newmarket Palace Stakes, with
Robert de Gorham (his only engagement), Gunter,
and others.
Palinurus is in the column only.
Espartero is in a 100 sovs. stake on Wednesday in
the Craven Meeting, with the Lass of Louton and
Edgeworth Bess. Also following day in a stake, vide
Wiseacre. Also same day in the Vacillation Stakes
with the Dirce colt and Tedworth.
Defier, vide Wiseacre.
Barrier, vide Attila and Wiseacre.
Canadian is in 100 soy. stake on Tuesday, in the
Craven Meeting, with Criterion, Observatory c., and
Adelgund. Also in the stake with Wiseacre. Also
in the Newmarket Stakes Meeting, Acacia c., Saros,
Guzelle, Jonny Faa, and others.
Meteor is in the 2,000 guineas only.
C. by Muley Moloch, out of Dirce, is in the Coffee-
room Stakes, Craven Meeting, with Acacia c., Robin,
and three others. Also vide Espartero.
C. by Plenipotentiary, out of Acacia, in the Coffee-
room column and Newmarket Stakes.
William de Fortibus is in the Dee Stakes at Ches-
ter, meeting Lord Miltown's two, Sir R. Bulkeley'a
two, Dr. Allen and Combermere, all in the Derby,
their only engagement previous. Also in the Palatine
Stakes, same meeting.
The following have no engagement before the
day :—The Lord of Holderness, Ballinkeele,
Moss
Trooper, the Joanna colt, Lasso, Sir Gilbert Heath-
cote's two, and Forth's five.
March 28.

JUDEX.

The only son of the unfortunate Frost, died at
Montpellier, Bristol, on the 22d inst
BRIGHTON ELECTION.—Saturday morning a requi-
sition to Somers Harford, Esq., the late member for
electors
ecroars-
j
this (Bion y) Lewes, was put in course of signature, and though no
measures were taken to make it known, upwards of 200
names were appended to it in a few hours, and there is
eovreirtyy.pro:fr. ahiiiiistyfoex
ofrd litsisberieengtedrettournadeddrbeys•sathlaer
da oreniDg.