The Sun.
London, England, 1842-12-10 00:00:00

bars, they are majestic records of by-gone ages • and
the general aspect of the country is lovely in the ex-
treme. The hill, or rather sloping bank, on which
our crescent stands, cleared of all but stately trees, is
strikingly beautiful.
" Although only two months have elapsed since I
gave out the town allotments 33 are already occupied,
and houses building; 101. and Si. per annunit ground
rent have been agreed for some on seven yearS leases;
others sold at 251. and upwards, and Clifton and Stirl-
ing offer 501. for one in Koombany-road. At present
the houses and stores constructing are only of ma-
hogany, but they are neat and comfortable. A mail
who came out in the Diadem, a Cambrigeshire
thatcher, is invaluable. His thatch with rushes a
foot in thickness, is really beautiful. I hope soon
to see storehouses begun. If we should have surplus
labour from the number of emigrants, I shall com-
mence quarrying for my house, for we have lime-
stone within half a mile from where it will stand.
The granite and quartz and other stone on the hills is
seven miles from the town only, and eventually no
doubt will be used. Clay for bricks and tiles we have
also in abundance. The soil on the flats of the river is
most excellent, and even the sand before my cottage
windovA g in a garden, having only Koombany-road
between it and the estuary, is exceedingly fertile. I
have now coming on in it the finest crop of potatoes
and peas I ever saw ; and I hope in three months to
see it covered with melons, and water-melons.
" The gardens reserved on the other side of Bruns-
wick-street, under the hill, I am getting cleared by
degrees. I have given the officers gardens in it, and
all are at work in leisure hours to bring it into culti-
vation. The houses building on the Brunswick
will have the most splendid garden-ground around
them. I hope, the moment I have a pair of oxen, to
clear the inclosure in Victoria-square and the flat at
the Brunswick end of the Park, and to get wheat next
season and potatoes for the general supply of the emi-
grants and the establishment. 251. seems the mini-
mum price of an allotment here."

MONEY MARKET and CITY NEWS::
FROM THE MORNING PAYERS OR THIS DAY.
CITY, FRIDAY EVENING.
TlMES.—lnquiries instituted into the late sales of
Exchequer Bills show that they were made with the
view to discharge a dividend declared in the estate of
Ross and Ogilvie, bankrupts, who failed in 1804. It
appears that this firm, who were engaged in business
as hankers and army agents, have not paid a dividend
to their creditors since 1817. At that date they paid
7s. Gd. in the pound, and since, under the operation of
the new law of bankruptcy, a dividend of 48. 6d. int
the pound has been declared, to pay which Exchequer
Bills to the extent of 77,0001. were sold by crier of
the Accountant-General in Bankruptcy. It is stated,
that under this estate the Government, for a compr.l-.
mise of a claim they make, receive 55,0001. to 60,0001.
From the general gossip of the market it had been
premised that these sales had been made with the ob-
ject of avoiding the fall which a reduction of the in-
terest on these securities was likely to cause in the
premium ; but it does not seem to be anticipated, in
well-informed quarters, that any change is likely to
take place in the rate paid upon them, unless it is on
the principle of assimilating the March issues to those
which are redeemable in the approaching month of
June.

The corn-trade was thrown into considerable con-
sternation to-day by the announcement of another of
those failures which of late have so repeatedly shown
the embarrassment which prevails in this branch of
business, but which seemed for a while to have paused.
Messrs. J. L. Fernandez and Sons,.who have long been
known as a firm carrying on a most respectable busi-
ness as corn-factors in Wakefield, have, it is under-
stood, suspended their payments. Of the fact there
seems to be no doubt, although an evening paper al
ludes to it as a " scandalous rumour."
The two actions brought by Messrs. Acraman and
Co., of Bristol, against the London and County Bank,
far a considerable sum of money in respect of securi-
ties deposited with that bank by Messrs. Coils,
Thompson, and Co., and which were specially ap-
pointed to he tried in the Court of Exchequer on
Tuesday next, have been withdrawn by the plain‘
tiffs. This affair is well known in the city, where it
has been a topic of frequent discussion. The turn it
has now taken may have legal consequences of a very
important description.
CHRONICLE.—The treaty of peace with China
induced some sales from the public funds in anticipa-
tion that money would increase in value to invest in
manufactures, but it is now the current opinion that
the monetary, mercantile, and manufacturing inter-
ests must lay their account with further changes in
our commercial system during next session of Par-
liament. The " sliding scale" of 1842 is already
looked upon as doomed. The sugar duties are also
on the hooks of reform, and thus all that has been done
by the new tariff was merely a step to further change,
a disturber of every thing, and a settler of nothing.
This state of transition, in which the country is placed,
not without fears, too, that the question of" currency"
may be involved in that of " corn," causes fresh
anxiety in the public mind, and must make men cau-
tious, or at least doubtful, in their dealings.
We never expected any permanency—any real re-
lief to trade from the legislation of last session, which
brought forth an odious Income-tax, an untenable at-
tempt to patch up the Corn-laws, and merely adopted
enough of free trade principles to expose the indus-
trious classes to competition with the cheap-labour
goods of the Continent, without giving them the be'
nefit of cheap food, and the increased demand for their
labour, with better prices, which would have been ex-
perienced by the practical application to our commer-
cial code, of the principles of free trade with foreign
nations, as respects the great leading articles of con-
sumption.
POST.—Some explanation is demanded of us on
the subject of the remittances made on account. of the
Mexican dividends. The state of the case is very
simple. The produce appropriated out of the receipts
of the Custom-houses at Tampico and Vera Cruz,
and transmitted to London for the month of Septem-
ber, has been 111,106 dollars, and, assuming that
the future appiopriations continue about the same,
month by month, it results that there will be more
than sufficient to cover the amount of dividends on
the whole of the active stock declared by the agents
to be now in circulation, which is 5,400,0001. The
half year's interest on this sum, at the rate
of five per cent. per annum, is 135,0001. The
Custom-house reservations, taken at the above
amount per month, give for the half year a
total: of 150,0001., leaving a surplus of 15,000/.
to be applied to the redemption of the debentures, or
to the payment of a future dividend, as the case may
be. The debenture holders will do right, however, to
keep their claims in view, and to insist upon a fair
and honest distribution of the funds, as authorised by
the stipulations of the last arrangement concluded
between the Mexican agency and the Committee of
Spanish American Bondholders. They gave a great
deal of money for their debentures, which they see
much cause to regret, as they are now a dead letter
in the stock lists, and from no other cause apparently
than an apprehended disposition on the part of the
Mexican authorities to give to all the active and more
numerous class of Bondholders, and nothing to them
so long as it can be by any possibility avoided.
SUN.—Stocks left offfirmly this afternoon, and a fur-
ther purchase was made in Exchequer Bills equal to
that of the morning—viz., 50,0001. The premium
was firm at 525. to 535. Consols remained at 931 to
94 ; Bank Stock was 172} ; and Reduced Three-and-
a-Half per Cents. brought 100 k.
The Foreign Market was quiet. In Mexican no-
thing further was done. Chilian left off at 91 to 92
Spanish sold at 1811 for the Five per Cents., and
touched 238 :is for the Three per Cents.
There was no falling off in the demand for Railway
Shares, which kept up their high prices.
Bills of Exchange were
.firm again, the alteration
from the quotations of last post-day being very slight.