The Sun.
London, England, 1842-12-17 00:00:00

Ztt ,§un.

LONDON :
SATURDA.Y MORNING. DECEMBER 17, 1842.

--...---
An excellent address appears in another part
of our journal from -the National Anti-Corn-law
League to the inhabitants of the metropolis, who,
we have good reason to believe,
will respond to
the call. Never since the days of the Common-
wealth till now was London backward in the
cause of freedom. She did, with a glorious pri-
vilege, for many years, both shield the oppressed
and head the onset against oppression. To her
evep is due the first serious attempt to establish
free trade, and the words used by her princely

Though London have been backward, it is not
dead. Twice has the Common Council spoken
out nobly. All the districts round about have
had their meetings, and have declared for free-
trade. But that great, wealthy, influential, and
powerful body, the merchants and bankers of
London, have been silent. They are as dead
men to thiS question, which is vital to their
greatness. Their interests are bound up with
the welfare of trade, and not a little manufac-
ture of worsted caps in a remote town ofScotland
can fall to decay, but some of them will feel
it. As men of sense and men of busi-
ness it is impossible that they can allow
an intriguing, Tory electioneering clique, or
their own Tory partialities, to keep them from
making a strong declaration in favour of the
freedom of that commerce by which they live
and thrive. For them to sit still, when all
around them demands freedom, is to betray a
consciousness of not deserving it. For them to
stretch forth their hands to the landlords' fet-
ters, is humbly to solicit Parliament to become
their guardian, as if they were insane or under
age, and unable to manage their own affairs.
For them not sturdily to demand the abolition
of legislative restrictions on the ?Teat limbs of
trade, is to acknowledge that Parliament knows
their business better than they do themselves.
Such a spirit did not establish the commercial
greatness of London, and if her merchants now en-
tertain such grovelling opinions of themselvesand
their calling, they will soon be surpassed by other
merchants in all the markets of the world.
They must remember that the United States
supply free men as competitors, over whom they
cannot triumph as they have triumphed over the
slow and hampered slaves of the Continent. But
they will not, we are sure, submit to be surpassed;
they will rouse themselves, and at once declare
that for commerce to flourish, commerce must
be free. They will begin to carry that great
principle into practice, by supporting the
abolition of the Corn-laws, the largest and most
intolerable restriction that ever the avarice of
monopolists placed on the healthy industry of a
• great nation.

AMERICAN NEWS

LIVERPOOL, DEC. 16.

The Acadia, steamer, commanded by Captain
Ryrie, reached the Mersey this morning, with her
Majesty's mails from Halifax and Boston; she also
brought twenty-three passengers. In the face of ex-
tremely boisterous weather, she has made the voyage
from Boston in 13,1- days and 5 hours. The papers
which she brings include dates from New York to
the 30th ultimo ; Boston to the 2d, and Halifax to the
4th instant. Their contents are not very interesting.
A destructive storm was experienced at Boston on
the night of the 30th of November, accompanied by
snow and rain (many signs were blown down, and
the roofs and chimneys of a number of buildings were
injured; but the most important part of the damage
took place among the shipping and the wharves in the
harbour.

Colonel Webb, as was expected, had been pardoned.
The following are extracts
MUTINY.—The New Orleans Picayune of the 17th
inst. has the following :—lt will be recollected that
the late English papers spoke of a party of one hun-
dred and sixty eight English Mormons being on their
way out to this country, with the design of colonizing
with Joe Smith, at Nauvoo. A letter from Captain
Taylor, the boarding officer at the Belize, gives us
the next notice of their whereabouts. Captain Taylor,
in one of his cruises, on the 14th inst., at the bar of
the N.E. Pass, was hailed by Captain Pierce, of the
ship Henry, on board of which the Mormons were.
Captain Taylor boarded the ship, when he was in-
formed by Captain Pierce that the passengers were
then, and had been, in a state of mutiny, from the
time they were three days out from Liverpool. At
the request of Captain Pierce, and on his affidavit,
Captain Taylor made prisoners of the Rev. John Sny-
der and two others, whom Pierce pointed out as the
ringleaders. Captain Taylor took the prisoners ashore
with him. They have been since brought up to the
city by the tow-boat Swan.

POLITICAL ABOLITION.—The number of Abolition
votes polled m the recent election in the State of

Abolition. Total votes.
New York was
Massachusetts 6,179 114,339
Michigan, about 1,500... say 45,000
Ohio
Vermont 2,093 53,426

22,437

874,272

In these five States, which are the strongholds of
the Abolitionists, their votes amount to about 24
per cent. of the whole number of votes. In the
country at large not more than one per cent. This is
the result of some eight or ten years' hard work.
And what is more, the labourers appear to be greatly
encouraged by their success.

merchants in 1820, are appropriately quoted by i Genesee Flour is 5 dol., with small sales: Ohio is 1
the League to excite the men of the present day I worth just about as much.. Georgetown is 4 dol. 871 c.
worthily to follow the course then adopted. We I witho ht
somei.Ry
sales
e. sold to go East at 65 or 66 cents. No
trust that the League will be listened to, that the
sale of Corn. -Oats are worth 39c. 2,500 bu. Barley
metropolis will be organised, as we believe it sold at 49c.
will, into districts and sections, and by adding its Sterling bills are 61 to 6i, and sometimes 7 prem.
weight to that of the other large towns, give an Francs have been drawn freely at 5,42 per dollar.
overwhelming force to public opinion. Mobile funds are 13 to 14 dis.
We must openly state, for the information of P.S.—EvEmso.—The sales of Cotton are 400
our fellow-citizens, that the cause advocated by bales. The advance in freights embarrasses the sales.
The price demanded for Liverpool to-day is ld. lb.
the League, so irresistible is the power of jus-
The stGek of Cotton here is but 5,000 bales, and would
tice, when once it has seized hold of the heart of have been soon cleared off,but for the charge in freights.
man, must be successful. The Corn-laws must There are some sales of 'Ashes at 5,37 dollars for
be and will be abolished. It would be for ever Pots and 5,75 to 31 dollars for Pearls.
discreditable to the metropolis, were it not to EXCHANGES INCLUDING CERTIFICATES AND
CHECKS.
take an active part in such a great nations Boston par to ---i- Savannah ll to 11
w Philadel movement. The success of the League ill 4
phia ...... par to --71 Mobile 14 to
hereafter designate an epoch in the history of Baltimore par to iN. Orleans
our country, similar to the Reformation or the Washington,D.C. 71 disct. St. Louis `).- to 3
Revolution of 1658. It is the establishment of Richmond ll to 1
Raleigh - to
Cincinnati
the great principle, that honest industry is to be wiinii„o„ —to Nashville
perfectly free. It will be more than that—it Charleston -.} to 7-- Apalachicola -1 to 2
will be all that ; but it will be, in addition, the Augusta
31 to Bills on London ... 6+ to .7
triumphant assertion of that right, in spite of Macon
Columbus
banded monopolists in possession of the Legis-
lature. It will be at once the triumph of indus-
try, of the- people, and of justice. It will con-
secrate for ever that individual freedom which
was slowly and gradually asserted many cen-
turies ago by the conversion of feudal slaves
into free and chartered citizens.

MONEY MARKET and LiTY NEWS.

FROM TAB MORNING PAPAW! OF THIS DAY. •
CITY, FRIDAY EVENING.

POST.—This was the day fixed upon by Govern-
ment for recceiving tenders for the first instalment of
the million and a half sterling Canada Four per Cent.
Loan, and some little curiosity was expressed in the
moneyed circles to know the result ; but a good deal
of secrecy, if not mystery, appears to have been
observed on the occasion. Nothing transpired re-
specting the biddings until a late hour in the after-
noon, and the particulars that were at length corn-
municated proved imperfect, and by no means such
as could be relied on. It was said, in the course of
the morning, that there were parties prepared to bid
as high as 115 per cent., the long period that will
elapse before the redemption of the 300,0001. capi-
tal can take place being the alleged inducement for
offering so liberal a price. For some 20,0001. there
was, in all probability, an actual tender at 109; so it
was affirmed; but the reports current regarding the
higher price noticed, do not seem to have been well
fbunded. The biddings are understood to have
ranged, with one or two exceptions, between 1021 and
108 per cent. The house of Maubert and Co. are re-
ported to have tendered, on behalf of themselves and
their friends for the entire sum, at the price of 1071.
l ls. per cent., and, with certain deductions, to have
been the successful candidates for the loan. The
amount tendered for at 109 per cent. would go in re-
duction of the portion allotted to Messrs. Maubert
and Co. There might possibly have been other ten-
ders for minor amounts somewhat exceeding theirs in
point of price, and, if so, these would have to be also
deducted ; but they will most likely be found to have
taken the whole of the remainder. It is stated that
Messrs. Rothschild and Co. presented tenders, but at
a rate that was quite out of the question, their figures
being among the very lowest that have been men-
tioned. _

TIMES.—As it has usually been the practice in
receiving tenders for loans to declare the price and
amounts of the tenders, and the terms accepted, in the
presence of the parties making th In at the Treasury,
and that at the hour specified in the announcement,
the public were disappointed that a similar course had
not been pursued in the negotiation of the Canada de-
bentures to-day when the biddings were made. The
general expectation was, however, that an official
notification of the terms accepted by the Government
would be made through the medium of the Bank of
Englandlat 4 o'clock. It was afterwards understood
that 5 o'clock would be the hour, but even then no-
thing of an authorised character had transpired, and
the business of the day had closed before anything
was known for certain. The impression, however, of
the issue of the operation is pretty general, and Mr.
Maubert is named by the voice of opinion as the suc-
cessful bidder for a large portion, if not for the whole
of the stock, the Bank of England, Messrs. Rothschilds,
and some of the Scotch banks being mentioned among
the unsuccessful applicants. Report even goes so far
as to specify the price which Mr. Maubert tendered,
as being 1071. 1 ls., a high price, when it is reckoned
that the value of the stock to yield 31 per cent. is
107/. 2s. There are are rumours that as low as 1041.
was offered, and even 1021.
A most numerous meeting of the Shareholders of
the star Steam Packet Company was held yesterday
at the George and Vulture Tavern, and is described
as having been one of the most disorderly and up-
roarious assemblies of the sort ever witnessed in the
tCieitsy;eitiTiehreirhe
theirapp characters of Directorseared to be no respect paid to par-
tee-men, or Shareholders, but in one general Commit..
tee-men, mele
a discussion of the most personal, violent, and irre-
gular description ensued on the subject of a dissolu-
tion. The Shareholders seemed for the most part to
be individuals who could not well afford to lose the
money they had paid on their original subscription,
much less to be involved in debt, or perhaps in a
Chancery suit, if the running of the packets was con-
tinued, and were, therefore, most vehement in their
declamation against the Directors, who they alleged
were merely desirous of .carrying on the concern
to enable them to receive their salaries. This class
of Shareholders urged most strongly that an im-
mediate dissolution should take place, so that they
might be relieved from all future responsibility. On
a previous occasion a resolution, it appears, had passed
in favour of a dissolution of the Company, which fail-
ing, however, to be strictly in accordance with the
"
deed of settlement, increased the anxiety of the share-
holders that all the proceedings of the day should be
they termedperfectly
legal,
i in order that "no new quibble, as
might be raised to prevent so desirable
an object. This party took the prominent lead against
the Directors, and most severely criticised the ma-
nagement, and at once produced a scene of uproar
of a most intolerable nature. The opposition raised
against the Directors told from all corners of the
room. Some were for an immediate dissolution of
the Company, with an absolute sale of the vessels ;
others wished to see the concern wound up, but to
allow time for the sale of the packets to save a sacri-
fice ; while the friends of the Directors expressed
their confidence in seeing the business of the Com-
pany return to its former profitable paying point.
The history of the dispute between the Shareholders
and their Directors furnishes another instructive lesson
to the public of the necessity of looking well after the
management of joint-stock companies. Here the
Shareholders are evidently dissatisfied : they have re-
ceived, as is stated, for some years, a very high rate
of dividend, and now, suddenly finding that the Com-
pany, if allowed to proceed, is likely to involve them
in difficulties, they wish with all due caution to see it
wound up, that they may be quit of responsibility.
This is prudent, but it may be fairly questioned whe-
ther or not, long ago, the contingency that has now
arisen ought not to have been provided against by an
ample reserve fund, which could have been well spared
out of profits of the enormous amount asserted to have
been made in the first few years of the Company's
existence.
The result of this meeting is understood to have
been in favour of the Directors, who, with their
friends, holding the largest stake in the concern, out-
voted the resolution of their opponents, when a scru-
tiny was demanded.
CHRONICLE.- At the close of business nothing
definite had transpired regarding the offers for the
Canada Loan, and considerable dissatisfaction is ex-
pressed by the bidders that they should be left in
doubt. We hear that the Chancellor of the Exche-
quer did not think proper to attend, and was repre-
sented by a Secretary. It is said that biddings as
high as 1091. 2s. were made for 20,0001., and some at
102/. for the whole 300,0001. A party on the Stock
Exchange bid as much as 107/. 1 ls. for the lot.
SUN.—The Stock Market was very dull this after-
noon, and we have not the slightest alteration to re-
port in the quotations. Consols remained precisely
the same as yesterday-95 for Money, and 93i to 94
for the Account and ex dividend. Only the smaller
Exchequer Bills were dealt in, and these realised 50s.
to 525. premium. Reduced Three-and-a-Half per
Cents. brought 101 to 1011 ; and Bank Stock was
rather neglected at 172 i.
Speculators confined their attention chiefly to Spa-
nish Stock
decidedly the favourite, and this more especially in
which, judging by the prices paid, seems
reference to the Three per Cents. The Five per
Cents. brought 19 to 191, and the Three per Cents,
24;1 to 241 for the Account. Portuguese Bonds re-
main dull, but are a :little firmer. The Old Fives at
G 3; the Converted at 321 to 321; and the Three per
Cents. at 23 to 23' Mexican Stock has obtained 311
to 311 ; and
Buenos Ayres 231, being fall prices.
Dutch Two-and-a• Half per Cents. have been at
521 to 52i.
The Share Market was very dull, but there was
no depression in
prices. Great Western, New, were
141, and Manchester and Leeds 4 to 31 premium.
Brightons were 14-1- discount. Australasia Bank
Shares were 14, and London and Westminster,
2 premium.
Nothing transpired in the City this afternoon re-
lative to the small loan for Canada, for which tenders
were received at the Treasury, though it was under-
stood
r
public intimation of it Will be given in the
course of to-morrow.
rhe Foreign Exchanges were generally without
any material alteration.

TILE CORN TRADE.—We regret to hear that fur-
ther serious failures have taken place in the corn trade
in the West Riding of Yorkshire, but we do not feel
warranted at present in mentioning names. We un-
derstand that Mr. Fernandes, of Wakefield, is absent,
and it is rumoured that he has left the country, but
we merely know the thing as a rumour. His estate
is likely to yield a very small dividend.—Leeds Mer-
cury.

THE WEATHER.—SUN OFFICE, DEC. 17.
THERMOMETER, Lowest. 50 ; Highest, 57 : Noon, 51.
BAROMETER, 30.0 G.—WIND,.—WIND, W.