The Sun.
London, England, 1842-08-02 00:00:00

WRECK.

The Pearl, Lovering, frc;naCantes to Falmouth, was assisted
into Scilly, and ran on the Beach at St. Mary's, being very
leaky, having struck on a sunken rock, or wreck, about fifty
lmiles from Pambceuf, 1-ILetic Island, bearing N. E. half E.,
distant three miles.

PATENT HORSE SHOE.—We direct the attention of
Farriers and Blacksmiths to all advertisement in an-
other column, relative to a newly-invented horse shoe,
of which Mr. Rodway, of Holborn hill, is the patentee.
We do not consider ourselves qualified to express any
decided opinion about it, and merely call the attention
of those interested to the subject.
LORD LONDONDERRY'S NEW
oßN..—Nothing
can come more oppoi tunely for the wants of our summer and
autumn tourists than this lively and agreeable record of " A
Steam Voyage to Constantinople by the Rhine and Danube."
It not only marks out Gne of the most pleasant and inviting
tours that can well be accomplished, but forms as acceptable a
companion as can be desired on the way, pointing out and com-
menting on all the objects worthy of notice, marking the various
features that best claim attention, and, uniting the whole by
a thread of personal incident, which gives a consecutive interest
to the entire work. But as a book for home reading, this
journal will be found still more acceptable, on account of the
unusual advantages under which the writer travelled ; his rank,
and military and diplomatic reputation having given him access
to scenes and society which are closed to all ordinary travellers.
Lord Londonderry's interview wish the young Sultan, his pri-
vate conversations with Prince MAternich, his residence in the
Palace of Prince Esterhazy, and, above all, his accomplished
lady's introduction to the Harem of the Sultans Prime Min-
ister, afford descriptions, anecdotes, and personal traits, which
could scarcely have been looked for in the work of any English
traveller, and will (so far as we recollect) be found in no other
similar record.

COURT CIRCUI AR.
WiNpson., 111ONDAY.—Her Royal Highness the Duchess of
Gloucester, attended by her Lady in Waiting, paid a morning
visit to the Queen, and remained to lunch with her Majesty and
Prince Albert.

This morning the Queen and Prince Albert, and the Princess
of :FaxP Coburg Gotha, walked to Adelaide Cottage, in the
Honie Park ; afterwards Prince Albert and his brother, the
Hereditary Prince of Saxe Coburg, rode to Norfolk Farm, at-
tended by Viscount Sydney, Hon. C. A. Murray, Mr. George
E. Anson, and Colonel Bouverie.

The Prince of Wales and the Princess !loyal, were taken
out as usual to-day. In the afternoon her Majesty and her
Illusfrious Consort rode out into the Great Park, accompanied
by the Prime of Saxe Coburg, and attended by Viscount
Sydney, Hon. Colonel Grey, and Colonel Wylde. The Princess
of Saxe Coburg, the Viscountess Jocelyn, and the Hon. Miss
Devereux, were in a carriage.
The Duke of Cambridge and the Princesses Augusta and
Mary of Cambridge, attended by Lady Augusta Somerset and
Ba, on Knesebeek, arrived on a visit to the Queen.
Colonel Buckley has relieved the Hen. Colonel Grey in the
duties of Fquerry in Waiting on the Queen, and Colonel
Wylde has relieved Co:0nel Bouverie as the Equerry in Wait-
ing n Prince Albert.

The Marquis of Exeter arrived at the Castle to• day.
Her Royal Highi.ess the Duchess of Kent, attended by Lady
Char otte Dundas and Sir George Couper, Bart., will dine
with her 11L-jesty this evening.

His Royal Highness the Duke of Cambridge arrived in town
yesterday morning from his residence at Kew. His Royal
Highness attended by Baron Knesebeck, left Cambridge House
in the afternoen for the terminus, at Paddington, of the Great
Western Railway, and took his departure for Windsor Castle
on a visit to her Majesty.
Their Royal Highnesses the Princesses Augusta and Mary of
Cambridge left Kew yesterday on a visit to the Queen at
Windsor Castle.

Sir Robert and Lady Peel arrived in town yesterday from a
visit to the Marquis and Marchioness of Abercorn, at their
residence the Priory at Stanmnre.
Mr. Wickham, Chairman of the Stamps and Taxes, had an
interview with the Chancellor of the Exchequer, yesterday, at
his official residence in Downing-street.
The Duke of Buccleuch, the Earl of Aberdeen, and Lord
Stanley, arrived in town yeserday, from the Priory at Stanmore.
The Hon. Mrs. Goulburn left her residence in Downing-
street, yesterday, for Hyde, Isle of Wight.
Despatches; were received yesterday, at the Colonial-office,
from the Governor of Gibraltar.

MONEY and COMMERCIAL NEWS.

CITY' MONDAY EVENING.
The prices of the funds appear to have run up too rapidly
during the morning, and a slight reaction, as might have been
expected, took place towards the latter end of the day. The
market, however, left off very fairly, Consols being 913 91L for
Money, and for the Account ; Reduced, 92 92k ; Bank Stock,
1691 170/ ; India Stock, 249 250; Exchequer Bills, Old
52 54, New 50 52 prem.
In Foreign Securities the price of Belgian Stock was
1011 1021 ; Dutch Two-and-a- Half per Cents., .51i 511 ;
the Five per Cents., 1011 102; Danish, 80 82; and Brazilian,
63 65. The quotation for Mexican was 351 361/4.
London and Birmingham Railway Shares were 180 182;
Birmingham and Gloucester, 48 50 ; Great Western, 88 89 ;
the Half-Shares, 63% 6414 ; North Midland, 59 60; South
Eastern. 23 231 ; Eastern Counties, 81 9i ; Blackwell, 9 91 ;
and Brighton, 331 34; Manchester and Leeds, 78 per share.
The Bonds quoted to-day were Portuguese Five per Cents.,
33i 33/ ; the Spanish Three per Cents., 20 211 E ; and the
Five per Cents. 20 21.
The alteration in the law of " Merchant and Factor" was
noticed at the time it, was passed. The following circular,
issued by Messrs. Trueman and Cook, to whom. the monied
interest is indebted for the Act, is sufficiently important to be
given in ea-tenso:—
.' The Bill relative to advances to agents has now passed, and
it is deemed expedient that the mercantile public should be
generally apprised of the existing state of the law.
" The main principle of the new Act is that Validity is given
to advances bona fide made to an agent, who has been entrusted
with property, although known and dealt with as an agent in
the particular transaction.
" All questions, therefore, of notice of agency, and of the state
of the accounts between the principal and agent, which gave
rive to much doubt under the old Act, are now at an end.
"Independently of these questions, the old Law only gave
validity—
" Ist. To advances made to an agent abroad on consign-
ments to this country, where the agent was entrusted with the
property for consignment or for sale.
" This did not protect an advance made to an agent who was
only entrusted with the goods for safe custody and deposit.
The new Act makes it immaterial for what purpose the
consignor or agent is entrusted.
" 2d, To advances on Documents of Title. The new law
equally protects advances on the goods themselves.
"3d. The old Act did not give protection to exchanges of
property, that is, where property already pledged is given up to
an agent in exchange for other property which is pledged in
lieu.
" This transaction is protected by the new law.
" 4th. Under the old law the advance and delivery to the
lender of the document of title pledged required to be simulta-
neous, and very nice questions' were raised in each case as to
the agents being entrusted or in possession.
" Under the new law, it is sufficient if the transaction be bona
fide an advance on property entrusted to the agent, and
at the time subject to his control ; and it is not necessary
(provided there be an agreement in writing) that the pro-
perty or document should be handed over at the precise
time of the loan, though if it be delayed and the owner
shall come forward to claim it before it is handed over, he
is entitled to do so.
" On the whole, therefore, it is considered that as the law
now stands, any merchant or capitalist may bona fide and in
the usual course of business, advance his money to an agent on
the security of property which may since the passing of the Act
be entrusted to and in the control of the agent, provided there
are no circumstances in the particular transaction from which
the lender, as a reasonable man, could know or believe that the
agent is acting male fide to his principal and pledging his pro-
perty without his authority, and provided the lender takes care
to have the property or documents delivered to him by the agent.
" This law is confined to eases of agents entrusted with the
property ; a pledge for an advance to a man who has by stealth
or fraud acquired the property pledged still remains open to dis-
pute by the owner.
" The new Act does not refer to pledges for antecedent
debts ; they remain under the old law. A pledge by a known
agent for an antecedent debt is only good to the extent of any
lien which the agent may at the time have against his principal.
" The new Act only applies to goods entrusted to an agent
after the 30th June, 1842, when the Bill became law, and does
not apply to any previous transaction." '
(From The Sun of Last Night.)
The Funds have again improved to-day, and the business has
been very extensive, conducted chiefly by some of the most in-
fluential brokers. Consols have advanced to 911 914 for Aloney,
and for the Account ' • Three per Cents. Reduced 92 92k ;
Three-and-a-Hall per Cents. Reduced, 101 101/ ; New Three-
and- a-Ealf per Cents., IOOk 1001; Bank Stock, 1691/2 1701/ ;
India Stock, 249 251 ; India Bonds, 32 ; Exchequer Bills,
Old, 52 54 ; New, 50 52 premium.
Attention being chiefly drawn to our own market, Foreign
Securities have been comparatively neglected, transactions
have been, Dutch Two-and-a-Half per Cents., 511, ; the Five
per Cents., 10174.
Mexican bonds are quoted 361 for Money, and 36 for the
Account.

The Share Market has been firm, with but little doing.
Great Western have been sold at 89 ; the Half Shares, 63i ;
Brighton, 34; South Eastern and Dover Scrip, 8; Eastern
Counties, 6/. 9s. 2d.; the Debentures, 101. 9s. 2d. ; Northern
and Eastern. 17; Edinburgh and Glasgow, 4734 ; and Paris
and Rouen, 181.
Spanish Bonds only are quoted to-day ; the Five per Cents.
at 20L 21, and the Three per Cents. 20% 20g.
Letters from the manufacturing districts, received this morn.
ing, are of a more satisfactory nature than those of late. It is
stated, from Manchester especially, that some extensive orders
had been received, and that the execution of them will cause
the employment-of many men now out of work. It is admitted
that the prices are exceedingly low, but still sufficient to remu-
nerate them. A better feeling appears to prevail, and the
i masters, it is said, are now convinced that it is far
more to their interest to wait for orders, than to
manufacture en speculation. Much of the present dis-
tress may be traced to this system, encouraged at
first. by reckless advances from the Joint Stock Banks,
in the immediate neighbour hood and subsequently, when they
Were broken uir, by parties, who for the sake of the commission
continued the plan by drawing upon their connexions in other
countries. The result has been that foreign markets were
completely glutted with English goods, which could have been
purchased at a heavy d:scount, upon the cost prices. It being
impos•ible to effect sales in order to meet the bills when due,
numerous failures occurred, and the evil is now beginning to
work its own cure, and, from the intelligence received during
the last month, from most foreign ports, it appears
that speculative consignments having ceased, the heavy
stocks were being gradually diminished, and prices
consequently improving. 'lbis is more particularly to be
noticed at Rio and Australia, more especially at the
latter place. It is not twelve months since when cottons
were selling there at from 25, and in some instances 30 per
cent. below the invoice ; and it was calculated that there was
sufficient, which, if it were all taken off, would have required
twenty two pounds from every individual, whether convict or
free, of the whole population of the country. This state of af-
fairs is now happily at an end ; prices had risen to something
like, a remunerating point, and orders had been sent home, but
coupled with a strong injunction not to exceed the extent if
their improvement were to continue.
PR ICES OF IRISH STOCKS, DUBLIN, JULY 30.
3 per Cent. Consols
Three and Half Stock 99g Grand Canal 5t0ck.........
Ditto Reduced ...... Ditto Debs. 6 per cent...
Ditto New 1830 99i Ditto 4 per cent .. •
31 per Cent. Debs._

MANCHESTER. STOCK EXCHANGE, 'JULY 30.—There is
no material change in prices, and not much stock offering, but
vt e do not consider our market to be firmer than yesterday :
North Midland, s`9i; Lancaster and Preston, Three-quarter
Shares, :fib ; Leeds, 77 to 78; ditto, Half-Shares, 33i to 34
Grand Junction, 184 to 185.
CLOSING PRICES.
BRITISH FUNDS

Ilan]; Stock
3 per Cent. Red. ....,... 92 Ditto Bonds
3 per Cent. Cons— 91% Ditto Old Annuities ...
3% per Cent. Red... 101 iDitto New Annuities...
New 3% per Cent... lOO% Ex. Bills, 1,000!....2d. 52 pm
Ditto 500/...... 52 pm
New 5 per Ceri'., —
Lone Annuities to expire Ditto Small ...... 52 pm
Jan. 1860 ... 12% Bank Stock for Acct.._
Oct. 1859
Jan. 1660 — Consols for Acct....... 91%
FOREIGN FUNDS.
Austrian, 5 per cent. ... Portuguese, 5 per cent. 55
Belgian, 5 per cent — Ditto, New Ditto 333
Brazilian Bondi
Prussian, 5 per cent..
Buenos Ayres6 per cent. Russian, 5 per cent..... 114/
Chaim), 6 per cent — 'Ditto, Metallic ...... . ....
Colombian, 6 per cent — Spanish, 5 per cent. 2og
Ditto, 1824 — Ditto, Deferred.... .
Danish, 3 per cent --i French, 5 per cent. —f. —e.
Greek, 1825, 5 per cent — Exchange —f —c.
Mexican, 5 per cent..... 3(54 i French, 3 per cent —f..—e.
I)itto, 6 per cent. 1837 IDutch, 2% per cent. 51%
Peruvian, 1825, 6 per et. i Ditto, 5 per .:!en:... .„ ..,. 101 i
SHARES.
Cheltenham and Creat Western (80 paid)... 27
East ern Counties Railway (23 raid)
...
Ditto New Shares ( paid)
Ditto Debentures .. .... .
Edinburgh and Glasgow (50 paid) ...... ... .174
Great Western Railway (65 paid)
Ditto New Shares (50 paid) 64
London and Brighton (50 paid) , 33
London and 131ackwall ( paid) 9%
Manchester and Leeds (70 paid) ......
Ditto New Shares ( 30 paid)..
Ditto Quarter Shares ( 2 paid) 5
Midland Counties Railway (100 paid)
Ditto Quarter Shares (15 paid)
North Midland Railway (100)
Paris and Rouen (18 paid)
South Eastern and Dover (50 paid) —
Ditto Scrip. (10 paid) . ........... ......- t3

ARE THE MINISTERS OR THE
PEOPLE MOST IGNORANT ?
FROM A CORRESPONDENT.)
No sooner had the report arrived in Manchester that Sii
James Graham had added insult to injury, by insinuating
that the 70,000 requisitionists to stop the supplies did not un-
derstand the subject, than large public meetings were held, one
in St. George's-road, at which were present from 6,000 to
7,000 persons, and a still more numerous une i❑ Oxford-road.
Both meetings were ably addressed by Messrs. Falvey and
Finigast, and a resolution passed repudiating the charge of igno-
rance made ngainst the people of Manchester by the Home
Secretary. The proceedings were characterised throughout
by the respectful, yet tirm determination, of those large assem-
blages of the people to obtain freedom of industry from the
Legislature.

The subject, too, was temperately, yet energetically handled
by the speakers, and the constitutional doctrine affecting. the
supplies, explained as well as if Sir James Graham himself had
written on the subject : and if we may judge from the previous
specimens of the worthy Baronet's pamphleteering, with much
more moderat:on.

It is intended to send a remonstrance to Sir James on his
cold-blooded sneer at the intelligence of the people. One
thing is certain, th:i men of England know that their supplies
are stopped by the Corn-laws, and they feel that there it no-
thing, either morally or constitutionally wrong, in stopping the
machinery of the Government that retains them.
Manchester, July 30.