The Sun.
London, England, 1842-08-01 00:00:00

MONEY and COMMERCIAL NEWS-

CITY, -SATURDAY ETZNI G.
The steadiness in the funds mentioned this morning, s owed
itself to have increased by an advance in prices at the c ose of
business, when Consols were 91% for'illoney, and 9114 91% for
the Account; Bank Stock, 169 170; India Stock, 249 250;
Exchequer Bills, Old, 51 53, New 49 51 prem.
A report has been prevalent this day and yesterday, and is
now so current as to require notice, that an alteration in the
rate of interest in some of the Stocks is contemplated by the I ,
Chancellor of the Exchequer. The small value of meney. the
high premium of our Exchequer Bills, and the present prices of
the funds certainly offer a favourable opportunity for such a
proceeding, and give a degree of credibility to the rumour.
But the policy of such an attempt at this immediate period,
would almost appear so doubtful as at once to refute it ;
any discussion, therefore, would just now be premature.
The prices of Foreign Securities were—llelgian, 101% l 02%;
Dutch 'Two-and-a-Half per Cents., 51% 51%; the Five per
Cents., 101% 1014 ; Danish, 81% 82%; and Brazilian, 63 65.
The expectation that the late fire at Hamburgh would ren-
der it necessary to raise a loan for the purpose of restoring the
c ty, has been realised in the announcement, that one to the
extent of twenty millions marks banco, or about one million
and a half steAing, has been contracted with Rothschild of
Frankfort, the See Hundling of I3erling, and Heine and Te-
nisch of Hamburgh. The price given for the stock, which is
to bear au interest of 314 per cent., was 94, with a deduction
of 1 per cent. for commission.
It is believed that the first application of a patent lately
granted to one of our own countrymen will be made in re-
building this city. If it be carrier( into effect, the advantages
will be immense, and attendance at some experiments a short
time since leaves but this inference to be drawn. It is a well-
known principle that a vacuum cannot exist, ar d a party taking
advantage of this, has discovored a method by which the air
can be exhausted frem the fibres of won-d; animal substances,
&c.., and by supplying its place with metals, and even stones in
a state of solution, it becomes completely saturated with the new
introduction. Thus, in the case in• question, two p eces
of Canadian timber were experimented upon, the one having
undergone the process and the other not, both having
been cut from the same log. The impregnation consts•ed of a
solution of iron, arid such had been tne force with which it
had been impelled, that upon examination by a microscope,
each air cell was found to be completely filled with iron, in
consequence of the fluid in which it had been dissolved having
been evaporated by the heat of an oven. Both pieces were
placed on a large coke fire ; the one in the natural state was
quickly consumed, while the other remained untouched,
save a charring to the extent of perhaps the eighth of an inch,
anddeadened the coke upon which it had been laid. Buildings,
in which wood thus charged is used, would, to an immense ex-
tent, be unintlammable, and the process being exceedingly easy
of performance, and of but little expense, it is supposed
that the Syndicate at Hamburgh will oblige it to be used in
all the new erections. It is stated, that copper in solution can
be equally as efficiently applied in preparing timber for ship-
building, and stone, in a similar state for wood pavement, as
well as iron far resisting the action of fire.
The Share Market was rather better :—London and Bir-
minghamwere 180 182; Birmingham and Gloucester, 48 50 •
Great Western, 88 89; the Half-Shares, 63% d 34; South
Western, 61% 62%; North Midland, 59 60; the New Shares,
29 30 ; South Eastern anti Dover. 23 23%; Eastern Counties,
84 9%; Northern and Eastern, 40 41 ; Blackwell, 9 9% ; and
Brighton, 33% 33% per share.
The quotations for the Bonds were, Colombian, 20% 21%;
Peruvian, 15% 16%; Portuguese Five per Cents. 33 33%; the
Three per Cents., 19% 19% ; Spanish Five per Cents. 20/ 21 ;
the Three per Cents 20% 20%.
An ingenious German has proposed a_plan for forming a
fund for the purposes of emigration, th principles of which,
if they could be brought into practical operation, appear to be
such as would be productive of great benefit to the poorer
classes, who might feel inclined to endeavour to improve their
condition by proceeding to the colonies. The short account is
this :—For a competent board to engage proper vessels, in
which parties to he nominated are to receive a free passage,
and a small sum on landing for immediate wants, until pro-
vided with situations, &c. The funds to be raised by a perio-

dical lottery, the tickets for which are to be fixed at prices
varying from ss. to 109. each, soil-Me airnount distributed in
prizes, consisting of from one to fifty passages, no profit being
made out of the concern, but the whole, beyond the necessary
expenses, being applied• to the specific purpose. The great
objection appears to be the difficulty of inducing those for whose
benefit it is intended, to subscribe upon an uncertainty ; or
oilers, unless they may particular persons whom they may
wish to assist. From the accounts of the want of labour
received from all our colonies, and from the state of the coun-
try, any plan for giving the poor an opportunity to emigrate,
appears to be worthy of consideration.
(From The Sun of Saturday.)

Business in the Funds has been very trifling to-Jay, and the
intelligence from America of there being a difficulty in the ad-
justment of the Boundary Question has given a flatness to the
market. Private accounts, however, do not appear to view the
obstable, whatever it may be, as serious, but
rather that the delay arises from Lord Ashburton
having to wait for instructions from home, and that the whole
matter will, upon their arrival, be amicably and speedily ar-
ranged. Consols are 914 91% for Money, and for the Ac-
count ; Three per Cents. Reduced 911; Three-and-a-
Half per Cents. Reduced, 100 11;04; New 1 hree-and-
a-Half per Cents., 100%; Bank Stock, 169 170 ; India
Stock, 249 251 ; India Bonds, 31 33 ; Exchequer Bills, Old,
51 53 ; New, 49 51 prem.
Transactions in Foreign Securities have been confined to
Dutch Two-and-a- Half per Cents., 51% 514; the Five per
Cents., 1014 1011 ; and Chilian, 85 87.
The speculative operators in Mexican Bonds have taken ad-
vantage of the circumstance of Santa Ai.na remonstrating
against assistance being afforded to the Texians from the United
States, to depress the quotations of the Bonds. It
has been known ever since „ hostilities were first
talked of, that numbers of restless individuals would
join the Texians in their private capacity, and that Pre-
sident Tyler could not hinder them '1 his document is then,
in reality, of no value; but having for the present answered the
purpose of dealers for a time, and lowered the quotation one
per cent., the 1 rice is again suffered to rise, sod is marked
36 to-day.
In Railroad Shares, the only purchases havebeen London and
Birmingham ISt, Quarter shares, 4.1*,_ and South Western 62.
The letters from the United States by the Caledonia, give
very unsatisfactory accounts of the condition of trade in
America. The usual interval between spring and autumn
having commenced, but little business is expected at this season,
but it is stated that less had been done during the early part of
the year than had been anticipated, and no more favourable
prospect is held out for the fall. In addition to the depression
caused by monetary affairs, the controversy on the subject of
the Tariff had considerably increased it, arid until the question
be settled, merchants avoided forwarding orders for goods for
import.
The repudiation system having been virtually recognised by
Congress, in the discussion upon, and rejection of, the measure
for the adoption of the debts of individual States by the Fede-
ral Union, and the refusal of the Legislature of Pennsylvania
to adopt means for meeting the interest due on the Ist of
August, have given another shock to' the finances, and a con-
siderable fall had taken place in the prices of the various
stocks. Of the whole debt of Pennsylvania, upwards of five
millions sterling is held its this country: By the last arrival it
was announced that Arkansas had failed in its engagements,

and that an agent was about to visit Europe for the purpose of
negotiating the new State loan. By this vessel intelligence is
received of another loss about to be inflicted upon our
capitalists by repudiation of the State in question. These
facts are mentioned as a caution against making any further
advances to I-.merica, since, as has been before stated, no gua-
rantee can be given that either the interest or principal will
ever be paid, if it shall please the several Legislative Assem-
blies to refuse. It will doubtless be attompled to raise money
here, which efforts may be expected to be furthered by some
of the large holders in this country and on the Continent, in the
hope that if they should succeed, some arrangement may be
entered into with Indiana, Illinois, &c., by which the prices of
their bonds may be temporarily raised, and so allow those par-
ties to get rid of them on better terms, but at the expense of
their own countrymen.
The Exchange on England at New York was 107 107 i.
PRICES OF IRISH STOCKS, DUBLIN, JULY 28.
3 per Cent. Consols
Three and Half Stock 99ii Grand Canal 5t0ck......... 5t0ck..........
Ditto Reduced ...... Ditto Deb,. 6 per cent...

Ditto New 1830... 100 Ditto 4 per cent ..."
3i per Cent. Debs.
MANCHESTER STOCK EXCHANGE, JULY 29.—There has
been no material change in uur market to-day ; prices still re-
main firm. Manchester and Birmingham, 28174 ; Manchester
and Leeds, 77 to 77i ; Midland Counties, 69 to 69i ; North
Midland, 59 to 60 ; London and Sou.th Western, 62 to 63.
CLOSING PRICES.
BRITISH. FUNDS

Bank Stock
3 per Cent. Red. .... ... 911 Ditto Bonds . .. 33 pm
3 per Cent. Con.
34 per Cent. Red... 1004 \ Ditto New Annuities...
New 34 per Cent... looi Ex. Bills, 1,000/....2d. 51 pm
New 5 per Cen'.. — Ditto 500/...... 51 pm
Long Annuities to expire Ditto Small
Jan. 1860 ... l2 9-16!Bank Stock for Acct 169
Oct. 1859
Jan. 1860
FOREIGN FUNDS.
Austrian, 5 per cent.... Portuguese, 5 per cent.
Belgian, 5 per cent — Ditto, New Ditto
Brazilian Bonds... — Prussian, 5 per cent. .
BuenosAyres6 percent. 194 Russian, 5 per cent ..„ 115
Chilian, 6 per cent B5 Ditto, Metallic.. .... ....
Colombian, 6 per cent — , Spanish, 5 per cent..... 204
Ditto, 1824 — ;Ditto, Deferred.... . 91
Danish, 3 per cent — 'French, 5 per cent. —f. —e.
Greek, 1825, 5 per cent — !Exchange
Mexican; 5 per cent .36 'French, 3 per cent. —f. —c.
Ditto, 6 per cent. 1837 IDuteh, 2i iier cent. sli
Peruvian, 1825, 6 per et. Ditto, 5 per cent. .. ... 1014
SHARES.
Eastern Counties Railway (23 paid) . . —
Ditto New Shares ( paid) ...
Edinburgh and Glasgow (50 paid) ...... ... 471
Ditto New Shares ( 3 paid
London and Brighton (50 paid).. ' 334
London and Birmingham (90) . ... . .. 181
Ditto Quarter Shares (25 paid) 474
London and South Western (4116 s 10d pd) 624
Northern and Eastern (45 paid)
North Midland Railway (100)
South Eastern and Dover (50 paid) 23/1

SALUTING ETIQUETTE.—On Tuesday afternoon the
French 10-gun brig of war I ourvoyeur,. commanded by
the Lieutenant de vaisseau Villars, arrived in the road-
stead from Cherburg, on a cruise. She is fitted as a
school-ship, and has on board, besides the crew, about
sixty eleves de marine, some of whom are intended for
officers. M. Villars sent on shore to the Lieutenant-
Governor, to know whether, if he saluted the island,
such salute would be returned. His .Excellency de-
clined the salute, because, as we understand, by some
singular pretension of the Ordnance Department, pow-
der is denied to the Commanderin-Chief and repre-
sentative of her Majesty in this island, who is thus
prevented from receiving the compliments due to
the British flag, and returning the same to that of
the foreign nations whose ships of war arrive
among us. His Excellency, however, invited the offi-
cers to break!ast with hini yesterday (Wednesday)
morning, and at about two o'clock the General and his
family went on board, when the commander caused re-
freshments to be served, of which the party partook,
while the eleves de marine manned the. yards, &c. His
Excellency noticed the particularly clean and healthy ap-
pearance of the eleres, and the good order and discipline
of the vessel. On leaving the PourvOyeur, a salute was
fired out of compliment to his Excellency personally,
whose rank as Major-General entitles him,, according to
the regulations of the French service, tp a salute of seven
guns. The Pourvoyeur sailed this (Thursday) morning
for Cherburg. Her departure has been hastened in con-
sequence of the head professor of the dares hating been
suddenly attacked with brain fever and delirium, which
rendered it necessary to place him at once in the mili-
tary hospital at Cherburg. His Excellency having, we
understand, expressed his determination to return the sa-
lute fired yesterday (Wednesday), the Commandant
Villars fired another as a previous salute to the flag,
which was consequently returned from the shore.—
Guernsey Star.