The Sun.
London, England, 1845-03-25 00:00:00

1 Caning t .*41114

LONDON, TUESDAY, MARCII 25, 1845.

We have been favoured with a copy of one of the
ablest pamphlets which has yet appeared on the ex-
tensive subject of " Commercial and Financial Legis-
lation." It has been printed, we believe, for private
circulation only ; but its merits—the importance of
the statistical contents which it embodies and the
cleverness of their arrangement—will not long, we
apprehend, withhold it from an extensive diffusion to
the public. It does not often happen to us to fall
upon authors in any department of economic know-
ledge who sufficiently attend to the cogent necessity for
a clear statement of the elementary principles which
it is necessary for those, in the first place, to become
thoroughly conversant with whom it is proposed to
initiate into the infinite field of deductions and con-
clusions which lies beyond them. Those deductions
and conclusions are indispensable stepping-stones to
all progress in these branches of political knowledge.
They are carefully ascertained and repeatedly-tested
facts or quantities, which we must assume in eco-
nomics, as we reason upon axioms in philosophy.
It is, therefore, of the highest moment that as the
mass of facts, quantities, and results, to be digested
and classified, accumulates, the rules or course to be
established for the order in which they should be dis -
cussed and arranged, be of the soundest possible cha-
racter. For, otherwise, either it will be impossible to
embrace the extensive scope of the matters to be cal-
culated and recorded; or operations, which have been
pushed through many series, will require to be
renewed and recast on account of not having been
properly commenced, or of having been irregularly
and intermittingly pursued. Entertaining these views,
we have been struck by the philosophy of an opening
passage in the introduction in the very clever paper
before us. We cannot do better than commend it thus
at length to the favourable attention of our readers :
"In estimating the elements of just commercial and
financial legislation, we should not only be well ac-
quainted with the physical power and resources of our
own, but also with those of other nations, as regards their
geographical position, configuration, natural produc-
tions, and population. An able legislator should also
understand the political and moral power of nations,
so far as their respective Governments may, in a corn
parative view, be considered as advancing or retarding
national prosperity, or as limiting or extending public
liberty and individual happiness. Then, and not be-
fore, in the present age of the world, can he com-
prehend in legislative usefulness the wise adaptation of
those elements of national power which comprehend
the income and expenditure, the occupations of the
people, and the productions of labour.
" This division of legislation embraces the following
sub-divisions :

"I. Finance, or Revenue and Expenditure.
" 11. Occupations of the People, whether in agricul-
ture, manufactures, or in any other way connected with
the productive operations.
" 111. Commodities, whether they be of the growth of
the soil, of the productions of mines, of fisheries, and of
manufactures, or as regards the arts, of wild and do-
mestic animals, for their skins, ivory, horns, bones, flesh,
oil, tallow, and fur,—and

;‘ IV. Commerce, or the interchange of raw and ma•
nufactured commodities.

" The three last can only be made equitably subser-
vient to the first, so far as the obligations of the State
justifies taxation; no one of the three, ♦iz., the occupa-
tions of the people, commodities, and commerce, should
be taxed at the expense of the other."
The paper then divides itself, after a sort of natural
order, into various sections, which are thus headed :
--Interchange of Commodities; Taxes upon Con-
sumption ; Financial Revision ; Stamp Duties ; Post-
office ; Excise Duties ; Revision of the Customs
Duties. These are illustrated by tables of the arti-
cles, and quantities thereof charged with duties of
Excise for 1632, and of the net annual Customs for
the two years before and following the Tariff of 1842.
These are succeeded by an article entitled a pro forma
Scheme of Finance.

Under the section entitled "Interchange of Com-
modities," a clever, though rapid, sketch is given of
the origin of municipal inland and transit duties
levied at frontier stations of independent kingdoms
and territories, and of Customs taken on foreign
goods at the outports. 'We may conclude our present
notice with the following extracts applicable to the
principles of free-trade, the history of their develop-
ment, and of tariffs in modern Europe; and espe-
cially to the operation of wars upon countries, re-
spectively maintaining them under different circum-
stances, associations, or exigencies :

" The sound principle of unrestricted international trade,
although laid down long since by Adam Smith, in oppo-
sition to the more specious theory of Colbert, has in
British legislation only been practically attempted by the
Government, during the first four years of Mr. Pitt's
Administration, and during the time Mr. Iluskisson was
in power, and, afterwards, to a limited extent, by Lord
Sydenham. The most extensive and liberal reform in
the British Customs duties, since Mr. Pitt's tariff in
1787, is the tariff of 1842.
"In France, neither the Government nor the Legislature
have admitted even the principle of free-trade. Hence
the limited commerce of that country with other nations,
which, in regard to imports, is restricted, except by
smuggling, nearly altogether to raw materials of the first
necessity to her manufactures, as cotton, wool, raw silk,
dyestuffs, &c. There was one remarkable, but brief, ex-
ception to the generally unsound commercial legislation
of France. That exception consisted of the moderate
duties on imports into France from England, as embodied
on Mr. Pitt's celebrated treaty signed at Versailles on
the 26th of September, 1786.*
" A war of material interests, or, more properly
speaking, of material injuries—that is, a war of custom-
houses or fiscal forts, with their garrisons of revenue
officers and servants, has long been declared and carried
on between most European nations. This warfare of
interests, or injuries, has not ceased with the wars of
bloodshed, and if we may ever expect security against
a recurrence of the calamities attendant on, and conse-
quent to the latter, it will be in destroying the elements
of the former—in short, by the extension of free-trade
between all nations."

" *The Revolution annulled, at the same time, this
treaty and its liberal principles of commerce and naviga-
tion. It is by far the most remarkable commercial treaty
on record. According to its stipulations, the subjects
and inhabitants of the respective dominions of the two
sovereigns shall have liberty freely and securely without
license or passport, general or special, by land or by sea,
or in any other way, to enter into the kingdoms, domi-
nions, provinces, counties, islands, cities, villages, towns
walled or unvvalled, fortified or unfortified, ports or terri-
tories whatsoever, situated in Europe, of the two sove-
reigns, and to return from thence, remain there, or pass
through the same, and therein to buy and purchase all
things necessary for their subsistence or use, and they
shall mutually be treated with all kindness and favour.
Provided, however, that in all these matters they con-
form themselves to the laws and statutes.' The same
freedom was extended to ships and merchandise. The
duties to be paid on French commodities in England
were rated as follows :—Wines, no higher duties than on
those of Portugal. (In Ireland no more than the no-
minal duties then paid on foreign wines.) Vinegar, less
than half the previous duty. Olive oil, the lowest duty
paid by the most favoured nation. Brandy, seven shit -
lings per gallon. The following duties were to be levied
reciprocally in both kingdoms: viz.—Hardwares and
cutlery of all kinds, and of whatever metals, cabinet
wares, furniture, turnery, &c., not higher than 10 per
cent. ad valorem. Cotton and woollen manufactures of
all kinds (except mixed with silk) 12 per cent. Gauzes
of all sorts 10 per cent. Linens, same duties as linens
from Holland. Saddlery, 15 per cent. Millinery,
12 per cent. Plate and glasovares, porcelain and
earthenware, 12 per cent."

The latest accounts from Switzerland are to the 19th
inst., and not very satisfactory. The Diet cannot agree
on the course which should be pursued with regard to
the three questions at issue. The Diet met on the
18th, and continued the debates for nine hours. A
majority declared for the expulsion of the Jesuits,
while the minority said their cantons would resist
any summons to remove the Jesuits from their terri-
tories. The proposition of the majority, declaring the
total expulsion of the Jesuits, was adopted by ten and
two half-states, namely, Berne, Soleure, Ticino,
Schaffhausen, Argau, Vaud, Thurgovia, Grisons,
Glaris, Zurich, Exterior Appenzell, and Biisle
country. The cantons which declared against
entertaining the Jesuit question at all are—Uri,
Schweitz, Unterwald, Zug, Lucerne, Friburg, Inte-
rior Appenzell, Valais, and Neufchatel (eight and
a half states). This division, it appears, will lead to
no result, as it requires twelve votes to make the de-
cision valid. On the 19th the Diet again met, but

nothing decisive was done. It was understood that
the question relative to the Jesuits would be ad-
journed till the Deputies could receive fresh instruc-
tions from the different cantons. At the meeting of
the Diet on the 18th the President made the following
announcement respecting M. GUIZOT'S note :
" When the French Ambassador waited upon me to
present his dispatch he declared to me at the same time,
that France had no intention to meddle in the affairs of
Switzerland—that she would always respect her inde-
pendence, and that the step he then took was dictated by
friendly motives. I replied, that I accepted his declara-
tions with pleasure, and that it was on that condition only
I could consent to receive the copy of the dispatch of the
French Cabinet. In compliance with the wishes of the
Committee of the Diet, I have thought proper to address
to the Swiss Charge d'Affaires, at Paris, a dispatch con-
taining a vindication of the rights of Switzerland as an
independent power, and a reply to the note of M. Guizot.
A copy of it will be given to the Ambassador of France,
and the document afterwards communicated to the Con-
federated States."

Madrid journals of the 16th have been received.
The Chamber of Deputies was engaged in discuss-
ing the Bill for restoring the unsold Church
property. Little opposition is made to the measure,
and as it is regarded as a peace-offering to the PorE,
it will pass without modification. The Committee,
to whom the new electoral Bill had been referred,
were favourable to the principle, and that also will
become a law. Generals ARISTIZAISAL and JUAN
AMETTLER have been permitted to return to Madrid.
The Three per Cents. closed on the 15th at 35],
at 60 days ; the Four Cents. at 24 at 60 days, with
1 per cent. premium; the Five per Cents. at 261 at
60 days; the Coupons at 281 at 40 days; and the
Debt without Interest at 7 11-16 for cash, and 7i
at 60 days.

The Journal des Debats contains a❑ article on the
Bill for preventing gambling in railway schemes
which embodies just observations, not only on that
measure but many others, which from some accident
or whim on the part of a few Members give rise to
unnecessary legislation. This is one of the besetting
sins of the House of Commons, for while the existing
laws are sufficiently stringent and even applicable in
most cases, meddling persons bring in new Bills as if
their only object were to obtain notoriety and in-
crease the severity of the law against the unrepre-
sented portion of the community. According to this
able French journal the law now provides for the
punishment of fraudulent schemes, which applies to
railway companies as well as others. "It is incum-
bent upon the Legislature," it says, "to apply
itself to reform, and even to prevent, abuses.
It is, therefore, right that the commercial
and penal codes should provide against the con-
sequences of jobbing, and restrain the practice. This
is what has made the authors of our codes immortal.
They have nullified all time bargains, because they
are a cloak in which gambling loves to clothe itself.
They have inflicted pains and penalties on all such
tricks on the Stock-Exchange as tend to create a fac-
titious rise or fall. They have stopped there, and not
without having well considered the question, because
they have been afraid to confine the freedom of
money transactions, of restricting the circulation of
capital, which is the essence ofcommerce. They have
moreover believed that the public ministers of justice
would be vigilant, and take care that all violations of
the law should be punished, and the public ministers
have done their best. They have in like manner
given to these laws a general character, guard-
ing themselves against legislating upon each
species of jobbing, because they have felt
that by attempting to do this they would make
the code an endless volume. These, if we do not de-
ceive ourselves, are good precedents which should never
be departed from. Have a holy indignation against
jobbing, and the world will applaud you; but do not
make laws ab irato, for they would be at best inap-
plicable, which is always an evil. Now, it appears
to us that the Hon. Proposer of the Bill in the
Chamber of Peers, and the Minister of Public Works,
who rivalled Count DARu in zeal, and the wise Com-
mittee which has laid both the propositions of the
Minister and of the Count upon the slips in order to
fit them together into one only, have listened too
much to the counsels of their own generous indigna-
tion, and, under the influence of this noble rage, have
lost sight of the excellent examples given by the
illustrious authors of the codes, and the prescriptions
introduced by them into our monuments of legisla-
tion. They have forgotten that there have been
vigilant Procureurs du Roi attached to the tribunals,
who knew how to be strict ; they have lost sight of
the Council of State and the Ministers, whose duty it
is to scrutinise, article by article, the statutes of com-
panies ; they have, in fine, acted as if there were no
other jobbing than in railroad shares, and that job-
bing attacked in that point must of necessity sur-
render at discretion."

The observations made by Sir ROBERT PEEL in
the House of Commons, relative to the affairs of
Greece, have attracted the notice of the Opposition
journals, and it is curious, in reading their remarks,
to see how exactly they imitate certain London jour-
nals, in throwing the blame of any untoward act of
the Greek Government on their opponents. While
the French Minister at Athens is said to be plotting
against English interests, the Constitutionnel says the
only culpable foreign agent is Sir E. LYONS. That
journal quotes Sir ROBERT PEEL'S reply to Mr.
COCHRANE, and then adds :
" We shall not say that this little discussion is a
new attack on the entente codiale, for that is no longer,
though the happy invention of M. Guizot, anything
but a ridiculous obsoletism, and one can scarcely ven-
ture to speak of it even in mockery. But what appears
to us graver is the effect which Robert Peel's
words will produce at Athens. There Sir E. Lyons
has set himself up as the bitter and active enemy
of the French Legation, of the Colletti Ministry, of the
Greek King even. All that it is possible to do to thwart
M. Piscatory, to overturn the Ministry, or depreciate
King Otho, he does without hesitation, most perse-
veringly and vigorously. What will be said at Athens,
when it is known that Sir R. Peel approves of all that ?
It is, it cannot be dissembled, a serious embarrassment
for the Ministry, and a grave difficulty for M. Piscatory.
If we are well informed, Sir R. Peel is less satisfied with
Sir E. Lyons than he says. But in England all Cabi-
nets, Tory or Whig, hold it a principle not to abandon
their agents, even when in fault, except at the very last
extremity. This principle, when carried to excess, has its
inconveniences. It must be allowed, however, that the
contrary principle has still more. Sir E. Lyons, if he
belonged long ed to M. Guizot, would have been since re-
called. Admiral Dupetit Thouars, had he depended on
Sir R. Peel, would never have been disavowed."

The following paragraph, which has been copied
into most of the Paris journals, appeared first in the
official evening paper, the Messager of Friday :
"In 1841 the Ville de Bordeaux, French trading
vessel, was seized by the Customs in New South Wales.
This vessel was at the time on the point of taking on
board sheop for the island of Bourbon ; but whilst wait-
ing for her cargo she had been carrying on a coasting
trade in several parts of the colony. These operations
were considered illegal by the Customs of Port Adelaide,
and a prosecution was instituted. The captain of the
Ville de Bordeaux was acquitted on two charges of
the indictment, but was condemned on the third,
and the seizure was declared good. M. Joubert,
the owner of the vessel, then addressed a com-
plaint to the French Government. Thanks to
to the active steps of the King's ambassador in
London, the affair was laid before the Lords of tho
Treasury, and upon their decision the Governor of New
South Wales was ordered to restore the captured •essel
to her owner. The mere restitution was not accepted
by M. Joubert as a sufficient reparation. The vessel,
long exposed to the destructive action of the climate, was
unfit for sea, and the sale of her would have produced
very little. These observations having been made to
the Lords of the Treasury by the Count de Saint
Aulaire, the justice of them was acknowledged, and, by
a decision of the 28th ult., it was recommended that
M. Joubert should receive an indemnity of 4,0001.
(100,000 f.), and this has been granted."
This indemnity, however, by no means satisfies
the National and the Courrier Francais, and strangely
rouses their hostility to England. Galignani's
Messenger, in reply to their attacks, makes the
following just remarks :

" In their comments on these paragraphs we have
another instance of the want of liberality, not -to say
injustice, of what are called the anti-English journals, in
their notice of the conduct of the English Government.
If there be a deed done or a word said that can be con-
strued in an unfavourable sense as to the disposition of
England towards that country, there is no end of the
outcry about English ambition, tyranny, and intolerance.
If, on the other hand, there is a disposition on the part
of England to make concessions, if anything like a spirit
of justice and generosity be displayed, we are sure to
have the fact underrated or tho motive depreciated.
Thus they do not give any credit to England for the
decisions of her Government in the affair of indem-
nity for the capture of the Ville de Bourdeaux, and
the pension of the man who was accidently shot at
Newfoundland ; but, on the contrary, make the an-
nouncement a new occasion for attacking both the Eng-
lish and French Governments. The Courrier Francais
observes The French Ministry is so accustomed to
give way to England, that when, compelled by the force
of justice, the English consent to grant to France the
slightest reparation, the French Ministry celebrate the
victory with songs of triumph.' The National regards
the pension granted to the widow of the man killed off
Newfoundland as a miserable affair, compared with the

concession made by the French Government in favour of
Mr. Pritchard, and suppcsi..s that the reparation mado by
England is a trick to induce the French to believe that it
is the result of the exertions of the Duke de Broglie. The
idea of attributing the decisions in favour of the owner of
the Ville de Bordeaux and the widow of the man who
was killed to the influence of the Duke de Broglie in his
visit to London is absurd. The decisions were come to
long before the Dgte had left Paris."
THE BO SE—SATURDAY, MARCH 22.

First Highest Lowest Last
Price. Price. Price. Price.
French Five per Cents • ll7 60 .. 117 65 .. 117 60 .. 117 65
Three per Ceuta.— •• 85 GO .. 85 GO .. 85 50 .. 85 50
New Loan ••
Bank of France ..... 3205 ..3205 .. 3205 —3205
Gouln Bank, I,ooof. Shares • • 1090 —lO9O .. 1085 ..108.5
Belgian Bank..•• • • •• •• • • • • 655 •• 660 .. 652 50 .. 660
Belgian Fives, 1840 105••••••14 .. 105% .. 10514 .. 105 y,
1842•••••••• 107 .• 107 107 .• 107

Four-and-a-Halt' •• 103% .. 163% .. 103% .. 103%
Two-aud-a•Ilalf•• •• 62 50 .. 62 50 .. 62 50 .. 62 50
Spanish Active .• •• •• •••• •• 39% •• 39% .. 39% .. 39%
Threes•• •• •••• •• •• 41 .. 41 .. 41 .. 41
Passive .• •••••• .• •• 7 .. 7 7 7
Portuguese Five per Cents •• 69 .. 69 .. G 9 .. 69
Roman •. • •• •• •• ••••• •• •• 106 .. 106 .. 106 .. 106

.. 640
.. 405
..1150

RAILWAY SHARES.
Versa Wes, R. 8.•• .• •• .• •. .• 657 50 .. 657 50 .. 640
L. 8.•• •• •• •• •• •• 400 .. 405 .. 400
R0uen•...........
Rouen to Havre ••
_975 .. 975 .. 971 25 .. 971 25

THE itINI LONDON, TITESDA.Y MORNING; MARCH 23, 1646,

MOYEY and COMMERCIAL NEWS.
CITY, MONDAY EVENING.
Co-osols close well at 100 to for Money, and 1001,5 to M
for A,Tcnnt.

Spanish Bonds were dull. The Five per Cents. at 30 to
; and the Three per Cents. at 40% 3/4. Chilian were
firm at 104 ; and Colombian at 15.
The additional transactions in Railway Shares have been
these :---The Birmingham and Gloucester, Half, 1,4 ; Cale-
donian, 5; Cambridge and Lincoln, 51/2 ; Chester and Holy-
head, 3%; Dublin and Belfast, 3% to 4 ; Ditto and Gal-
way, %; Eastern Counties, 6% to 7 ; Perpetual, No. 2, 3/4 ;
Eastern Union Extension, 2; Ely and Bedford, N; Great
Western, 100; Ditto, Halt, 513/4 ; Hull and Selby, 48 ; Lon-
don and Birmingham, 133 to 134; Ditto, Thirds, 43 to 421 ;
Ditto, Quarter, 293/4 ; Brighton, 13 to 121/2 ; South-Western,
38%; Croydon, 4%3/4 ; London and York, % ; Lynn and
Ely 3% % ; Manchester and Birmingham, Quarter, 7 ; Mid-
land, 4%; Ditto, New, 12%; Newry and Enniskillen, par;
North British, New, 3% ; North sent, ; Norwich and
Brandon, 7 ; Ditto, New, 3%; Richmond and West-End
Junction, 2%; Sheffield and Lincoln, 1% ; Scottish Mid-
land, 114 ; Newark and Sheffield, 2% 14 ; Aberdeen, 3/4 to
1 ; Birmingham and Derby, 7to 8; Shrewsbury and Bir-
mingham, 214 ; South Devon, 11 ; South-Eastern, No. 1, 9 ;
Ditto, No. 3, 53/4 ; Selby, 47 %; Ditto, Extension, 13%;
Boulogne and Amiens, 81/R to 7% ; Great Northern of France,
2% ; Orleans and Vierzon, 161/2 to 16 ; Orleans and
Bordeaux, 9% ; Paris and Orleans, 32%; Paris and Rouen,
2514 ; and Tours and Nantes, 1% to% premium. Black-
wall have been at 914 discount. London and Westminster
Bank Shares are 7% J 8 ; and Commercial of London, 1%
premium.
(From The Sun of Last Night.)
There was no change in the prices of Cotton at Liver-
pool on Saturday, when only 3,000 bales were sold, the
demand being limited. Business closed quietly. The
Stock Exchange was to re-open to-day.
Among the many proposals for facilitating the great
objects of commerce, there is one which has been long
talked of as most essential ; but which, owing to various
obstacles, has not hitherto been so matured as to lead to
a probability of its completion. We allude to opening
a communication through the Isthmus of Panama.
Much has been said and written upon this subject,
and scarcely a dissentient voice for years past has been
heard among the mercantile interests as to its utility.
But somehow or another there have been conflicting in-
terests to consult. We understand now that all preli-
minary difficulties have been overcome, and that ere long
the works will be commenced and supported by a body
of influential individuals, who have the means at their
command for carrying out this long-desired and most
important undertaking.
The private advices received by the 'West India mail,
per Severn, are very satisfactory. It is alleged that
the prospect of the crops are so cheering that they were
expected to yield in Jamaica, Demerara, and Antigua, a
third, or, according to some accounts, a quarter more
than has been realised since the new system came into
operation. To use a homely phrase, the planters
have set " their wits to work," fearing the competition
of foreign produce in our markets, to improve as much
as possible the cultivation of the land, and various inno-
vations (at least the old stagers call them so), had been
introduced in working the soil and improving the pro.
cess of manufacturing sugar. In the present accounts
we do not find so many complaints of the measures of
Government as were prevalent at the date of the pre-
vious advices.

There are not any arrivals from Mexico or Vera
Cruz by the present opportunity.
We learn with regret that a most heavy failure has
occurred this morning in Mark-lane, said to be for from
40,0001. to 50,0001. Operations two or three years since
was said to be the caube of the event, which has caused
a strong sensation to-day in the corn-market. We for-
bear mentioning the name at present, as it might do
harm, and certainly not any good.
There were advises from Graham's Town to-day to
the 19th December, and from the Cape of Good Hope to
the 12th January. We do not find that any information
of importance is brought by this arrival. Affairs were
not in a settled state at Natal.

There has been a firm market to-day for those of the
British Securities now open. Consols for transfer to-
morrow have advanced to 100 k, and for the Account to
100 i. Exchequer-bills are on the decline, realising but
58s. The New South Sea Annuities have just been
quoted at 99k.
In the Foreign Stock Market a good deal of business
has been done. Spanish Five per Cents. have been sold
freely at 30, and the Passive Stock at 71 1. Brazilian
Bonds are on the advance, being quoted at 92, and the
New Stock at 89. The Portuguese Converted Bonds
are firm at 67; the Dutch Four per Cents. at 99} i;
and Colombian at a rise from 14* to 15.
In the English as well as in the foreign Railway
Shares a good deal of business has been transacted this
morning. The variations in prices are shown by the an-
nexed list:—

ONE CLOSING
PRICES OF BRITIS/1 FUNDS. O'CLOCK. PRICES.
3 per Cent. Consols
South Sea Stock
Ditto New Annuities ... 9912 99%
Consols for Account ..........
Exchequer Bills, 1,0001., I%d 6O 58 pm. 60
Ditto 500/. .
Ditto Small
Ditto Advertised — pm. -
CLOSING
PRICES.

ONE
PRICES OF FOREIGN FUNDS. O'CLOCK.
Brazilian Bonds
Ditto, New, 1829 and 1839•••••• 89
Ditto 1843 87% 88%
Chilian Bonds 6 per Cent — 104
I"."Ditto, Deferred
-a lumbian Bonds, ex Venezuela I4IA, 15 15
Mexican, 5 per Cent. 1837 —
Ditto. Account ..... ... ..... .....• 36 74
Ditto, Deferred
Peruvian Bonds, 6 per Cents 33
Portuguese Bonds, 5 per Cent
Ditto, Converted 67
Ditto, Account —

Spanish 5 per Cent. 1840.
Ditto Account
Ditto, Passive
Ditto Deferred ... —
Ditto 3 per Cent.' —
Ditto, Account — 403/
Dutch, 2% per Cent
Ditto, 4 per Cent., Certific 99%%
PRICES OF CLOSING
PAID. AT ONE O'CLOCK.
II A.ILWAY SHARES PRICES.
Aberdeen
Birmin;. and Gloucesterloo 134 133%
Ou. New
Ditto 1,4 Shares
Bristol and Exeter 7O
Ditto New
Caledonian
Cambridge and Lincoln 11,4...... 7 6% 71
Chester and Holyhead... 5
Cliurnet Valley
Diss, Beccles, Yarmouth 1% 23IA
Direct Northern
Dublin and Belfast June. 2% 6ll/__ 6
Dublin and Galway..... 2t 3
*astern Counties 25 ...... 21%ys
Ditto Perpetual, 5 per
Cent, No. 1—.41. 13s. 4d II,E
Ditto ditto, No. 2. l3s. 4d... 0%
Eastern Union lO .. ...
Ditto Extension
Edinburgh and Glasgow 50
Ely and Bedford
Great Grimsby and Shef-
field
Great South. and West.

67
3014,

31/2
82

10
7
8%

61,4
2%
213/4

03A
3%
1%

(Ireland)
Ditto Extension
Great North of England..loo 192
Ditto New
Ditto New
Great Western BO ......181
Guildford, Farn'in,Ports. 21/2..... 5
llull and Selby
Do. Half Shares
Kentish Coast l% 2% 1% —
Lancaster and-Carlisle... 15
Lincoln, York, and Leeds 1% l% —
London and Birminghm (5t0ck)...234
Do. New Thirds
Do. Quarters
London and Blackwall. 161. 13s. 4d —
London and Brighton... 50
London and Croydon, 131. 15s. 9d —
Do. Guaranteed 5 per
Cent.
London and Greenwich 12/ 1554 d...
Do. Preference ...18117s 2d 241,4 25
London and S. Western 4116 s 1041 80
Do. New
London and York 2l/2 .... 3%1/4%
Lynn and Ely
Manchester and Leeds... 73 1471/
Do. 1,4 Shares
Do. 4 Shares
Manchester and Birujin. 40 —
Do. Quarters ll
Midland 100 1411401/2 14114 140 1411/,
Do. New
Midland, Birm., Derby...loo 108
Newcastle and Darling-
ton Junction 24 ...... 473/4 47
Do. New Brandling... 10
Newcastle and Berwick 1% 14341/2
Newry and Eninskillen. 2% —
Newark and Sheffield ... 11,4. 3% 4% -
North British .. 10
Do. New
Northern and Eastern... 45
North Kent
North Wales
Norwich and Brandon... 10
Do., New ... ..... ..... 1
Preston and Wyre
Richmond and West End
Junction
Rugby, Worstr, & Tring 1
Scottish Midland 1%...... 23/4
Sheffield and Lincoln ... 114 —
Shrews., Wolverhamp.,
' Dudley, and Birm 2i2..... 414 5... ..... ..
South Devon... lO ... . 20
South Eastern & Dover 3312 s 4d...
Do., No. 1 8
Do., No. 2.
Do., No. 3
South Wales ..... ... 21/2 6l. 6 ......... ...
Trent Valley 2 .... . 171 % 17
Waterford and Kilkenny 1
West Cornwall ll/4... .. 4% ..... .
York and North Midland 50 lO2 101
Do. Extension ll/4 14% 14
FRENCH RAILWAYS.
Boulogne and A mien5... 4
Bordeaux; Toulouse, and
Cette ... ...... . ... ..... 2
Great North. of France.. 4
Lyons and Avignon
Orleans and Vierzon ... 2
Orleans and Bordeaux... 2
Paris & Lyons, Laffitte's 2
Paris and Lyons, Gan-
neron's, ... .. ............ 2
Paris and Orleans 2O
Paris and Rouen
Paris and Strasbourg ... 2
Sambre and Meuse
.... 2 ...... 61/4
Tours a id Nantes, Mac-
kenzie's
Ditto, ditto, Levevres... 2
JOINT STOCK BANKS.
London & Westminster. 20

793/1
.....
6%
3%

14%
2'/
3%

31
1
47/ii
21

8%
6%

.....
143 A

11%
2V)
64
3

11%
3

524
454