The Sun.
London, England, 1842-12-02 00:00:00

MONEY MARKET and CiVY Atihrg

FROM THE MORNING PAPERS OF IRIS DAY.

CITY, THURSDAY EVRIiIN. G.

TIMES.—The following notice was posted at the
Bank of England to-day, and does not differ in any
particular from that last issued :--
•' The Governor and Company of the Bank of Eng-
land are ready, until further notice, to receive appli-
cations for loans, on the deposit of approved bills of
exchange not having more than six monthfi to run,
Exchequer Bills, and East India Bonds, such loans to
be repaid on or before the 17th of January, 1843,
with interest at the rate of 3-i per cent. per annum ,
and to be for sums of not less than 2,0001. each.

"Bank of England, December 1, 1842."
Consols shut to-day prior to the payment of the
half-yearly dividends. To-morrow, therefore, quo -
tations will be marked ex-dividend, and show a differ-
ence of lf per cent. compared with present currency.
The English market was active to-day, and tile
Bank broker is understood to be a considerable taker
of Reduced and New Three:-and-a-Half per Cent.
stock, which gave prices, towards the close of busi-
ness, a much better and firmer position than they
before exhibited. Exchequer bills are now quoted at
the lower premium of 48s. to 50s. The anticipated
reduction of the interest to 2d. on these securities
appears to induce holders to sell at present prices.
The Baltimore papers contain a table of exports of
produce from that section of the States for the three
quarters of the year ending the 30th of September,
1842, from which it appears that the flour shipped for
foreign parts was 172,495 barrels, valued at 962,896
dollars, when up to the same period last year it was
216,628 barrels, or 1,118,958 dollars. This showed
a decline of 44,133 barrels, or 156,062 dollars. The
total export of flour, tobacco, fish, for domestic use,
bacon, &c., was valued at 3,267,452 dollars, and in
1841 at 3,261,055 dollars, giving an increase in favour
of the present year of 6,477. The total export of
produce to foreign parts during the same period, was
worth 85,687 dollars, while last year it was 147,770
dollars, showing a falling off of 62,083 dollars. The
entire total of domestic and foreign exports showed
a decrease of 55,606 dollars as compared with the
three first quarters of 1841.
The Shareholders of the National Floating Break'.
water and Refuge Harbour Company held their first
general meeting yesterday. The invention, which is
identified with protection to the shipping and sea-
faring portion of the public, appears to have at-
tracted att ution. Several ports round our coast are
already supplied with the apparatus, and the French
Government, it is stated, have taken the project under
their especial patronage, Captain Tayler, the ink-
ventor, being now employed to construct a harbour on
an extensive scale at Marseilles. The accounts of
the Company were presented, and the Directors re-
ceived the thanks of the proprietary for their attention
to their interests.

CHRONICLE.—The advices received by the
Great Western steamer from British North America,
state that the trade of Canada has fallen off -very
seriously during the present season, the tonnage
being 117,281 less than up to the same period last
year, and 400 fewer ships. A Special Committee of
the Legislative Assembly of Canada, appointed to
consider the subject of a free trade with Great Bri-
tain in the agricultural productions of British North
America, states that the cost of conveying a barrel
of flour from the 'Welland Canal to any port in the
United Kingdom, by way of the St. Lawrence, is
14s. 6d.; but that after the completion of their com-
munications, a reduction will be made in the transit
of 2s. 6d. per barrel. As respects the admission into
Canada of Americadproducts from the Western States,
the Report says that the freight of a barrel of flour
from Cleveland, Ohio, to Lake Ontario is ls. 6c1.,
which, with the duty and -other charges will, in their
opinion, "be a sufficient protection to the home pro-
ducer against American competition from their quarter
through the St. Lawrence." the Report is very minute
in its calculations, which are most laboriously framed
to show that grain cannot be exported from
Canada to England at a profit to the grower unless
the home price for flour be equal to 335. per barrel,
and wheat from 60s. to 61s. per quarter. They then
refer to Lord Stanley's famous dispatch of the 2d.of
March last, as a proof that the Imperial Government
never contemplated this state of the relative prices,
and suggest as the only effectual remedy to guard
against the danger to which the trade is exposed, that
their Legislature should allow a drawback at Quebec
or Montreal, whenever the price at these ports shall
exceed 30s. per barrel. They then suggest resolu-
tions, expressing confidence that the public declara-
tion of the enlightened statesman who presides over
the councils of the mother country will be carried
into effect, and that Canada will be treated as an in-
tegral part of the empire; which desirable object,
they observe, can be only attained by removing " all
duties on the products of Canada, particularly on all
descriptions of grain and meal when admitted to the
ports of the mother country, in return for which the
Legislative Assembly is recommended to remove all
duties on the manufactures of the mother country,
when admitted into the ports of Canada from sea,
which they expect the finances of the province will
render safe and practicable within a few years. after
their great leading communications to the ocean
are opened.
A circular addressed by a house established at St.
Louis, to the farmers, millers, and merchants of
Illinois, Missouri, and Wisconsin, estimates the
wheat crop of the United States for 1842 at
110,269,000 bushels, and the estimate of consump-
tion in the United States at four bushels, or a frac-
tion over four-fifths of a barrel of flour per annum to
every inhabitant, allowing for the quantity used in
manufacturing and other purposes, so that with a
population of 18,500,000, the gross consumption will
be 74,000,000 bushels. On account of the lowness
of price, the consumption this year is calculated at
41 bushels per head, making an aggregate consump-
tion of 83,250,000 bushels, leaving a surplus of
27,019,000 bushels to supply foreign demand. The
yield of Ohio is stated at not less than 21,000,000
bushels ; Illinois, which in 1839 yielded 3,335,000
bushels, is expected to yield 5,847,000 bushels; Mis-
souri, which in 1839 yielded 1,037,000 bushels, is
estimated at 2,064,000 bushels ; Wisconsin, which in
1839 yielded 212,000 bushels, is expected to give
636,000 bushels. These calculations, however, are
considered by well-informed persons to be rather
overstated in respect of the surplus yield of the United
States. Letters from New York refer to the elections
as being decidedly favourable to the democratic party,
or low tariff men, and observe that if the Government
of this country were disposed to make suitable ar-
rangements to place the trade between America and
Great Britain on a free and permanent basis, the pre-
sent is the most fitting opportunity that could be
selected for the adoption of measures to carry out that
important object, so eminently calculated to promote
the prosperity of both nations.
_ _

POST.—The private letters received yesterday by
the steamer Caledonia, from New York, hold out
more cheering prospects to the creditors of the North
American States which have failed to provide the in-
terest due upon the loans raised in their behalf.
Meetings were about to take place, at which it was
the intention of parties possessing a competent in-
fluence in the insolvent States to endeavour to incul-
cate in the minds of those who have been led astray
by the shameful doctrine of repudiation sentiments
more worthy of a great and aspiring people. The
first demonstration will probably be made in the
State of Illinois. Gentlemen whose interests are
closely identified with those of the State were arming
themselves with the requisite materials for the com-
mencement of a series of appeals in the cause of na-
tional integrity and good faith. The names of some
of the individuals who propose to distinguish them-
selves as leaders in the performance of this honourable
duty will no doubt be shortly made public. It seems
desirable, in the meanwhi e, that the holders of
American securities should meet in London, and by
a judicious mode of proceeding give what moral sup-
port they may be able to the friends who are prepared
to advocate their claims beyond the Atlantic.
The financial exposition of Senor Calatrava con-
tains no distinct reference to the case of the T
bondholders. The Committee of the Stock Ereasury
afford no assistance to the sufferers, and while they
are in dudgeon at the refusal of Messrs. Lzar d 1 and
Co. to confer with them, they have clearly no disposi-
tion to set the example of courtesy towards others.
SUN.—Stock was in rewst as the opening for in
vestments will be limited to fewer of the English se-
curities until the 17th January, this being the day
for the closing of the transfer books. The Bank of
England has given notice that Bills of Exchange, &c.,
will be taken in till then at 31 per cent., per annum,
in amounts of 2,000/. and over. Consols for imme-
diate transfer touched 941 3, closing at 944 4 ; and
for Account, 953' the latest bargains being at 954
sellers ; Exchequer Bills were at 48s. to 525. prem.
and India Bonds at 48s. premium. Money is now
dearer both in the Stock Exchange and in the Dis-
count Market. Bank Stock was quiet at 1714, and
India Stock ranged from 2641 to 266. The New
Three-and-a-Half per Cents. were worth 101 i to
1013, and the Three per Cents. 933 to 941.
There was an improvement in Mexican Stock,
both Active and Deferred, the former closing at 30,;.:
to 303, and the latter at 84 to 83. The Texian news
had no effect, being considered as exaggerated.
Spanish Bonds were a shade better, closing at 181 for
the Active, and 223 to 234 for the Three per Cents.
Portuguese Converted Stock remained at 321, Chilian
receded to 88, and Brazilian touched 66 to 661,
Dutch Two-and-a-Half per Cents. were at 523, and
the Five per Cents. at 101 to 101/.
The Share Market was again quiet this afternoon,
the operations since the morning being these :
Eastern Counties 14, Edinburgh and Glasgovv
Brighton 15, Manchester and Leeds 13, and Sou
Eastern Scrip 2 discount. Northern and Easters
Scrip were 44 to 1, and Paris and Rouen 43 premium:
British North American Bank Shares were 73, dis-
count,and National Provincial Bank of Englas. 1 New
premium.