The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-20

d all The circumstances, the character Of the ship and
that ~ cost would f2t per ton bulder mea
surement, which be was informed was bos beyond the
usual ae and that four per cent had been allowed all
paid up calls they had not much reaon 70 complain He
moved the adoption Of the report
Mr.. CANPBEIL seconded the report.
PROPRIETOR trusted that everything that practical
BILE to be done to the ship before che was should
be performed.
which required would not only complete the
ship ready for sea, but give surplus OF fSooo 70 work
Mr. EHllmosr approved the course taken by the board
snd sad Aat Neo York ~as the proper place for TIE sAp to
Ths CHAIRMAN then proposed resolution susnorsing inc
borrowing Of sum mot exceeding flo0 eco
The s1s.1AaH in answer % sna,s @ said the ship
Municipal Rights OF London.
sner M., 81 n %son and dinner on 9Th
Lord Chief Justice Campbell returning thanks on behalf
Of their loydshps remarked There long iu
mate connection between the Judges Of the land and this
most illustrations corporation hope that that connection
There have been projects for extneushDg The corporation
Of the city of london must say that have always re-
earded such projects with adherence (Hear, hear)
The country in all periods Of IT. history, has been mainly
indebted for its liberty and for ts independence and for
iu power to the exertions Of the citizens of London
Cheers Your ancient institutions doubt may want and
wan impo tant amendments (hear ,hesr) and would
be the last to encourage you not TO amend he and MAKE
them suableto the progress Of iocey and to the wants OF
the present generation hope you prepared 70 do 60
but will never support any proposal for amen ting
the institutions of the city Of London which shall
Of the shers Of London and Middlesex. Much cheer
ing) Gentlemen, very splendid panegyric has been
pronounced from an honorable member (hr Under.
Sheriff Anderton upon the present Lord Mayor, which
have doubs he we'll deserves but sure that the
office Of sherifs of London and Mddlesex is filed in
manner to sasfy the public and to do credit TO those
(ChecrB elected fellOW-
ctizens-not appointed by the crown-and they we'll
merit the confidence that has been reposed In them.
The stock Exchange In Wall Street-An Eng
lish View of It's MODE Of Operating.
From the London Times, (city artcle) July
For time the accounts Of the operations In the
New York stock market have furnished increased usra
tons OF fact which, although Of great Importance
stimulus caution has been much noticed by Eu
ropean investors. The rules OF the London Stock Ex
change constitute model system for the maintenance Of
honorable dealing and capitalists who look in the Amer
can papers official price lists and other documents
emanating from the Board of Brokers in New York
apt suppose thai something like similar vigilance ex
no. only Is 1t fact that the managers OF the New York
Exchange age system Of business which has no
charge, instead Of acting man, like the London
deaere all occasions when IL may be necessary TO In
sist upon rigid maintenance Of public credit, usual
ly put forth their collective influence to OBJ
'an opposite result With rare exceptions
the policy of the New York dealers and
specutors is always to act against the market Whether
th. arises large portion of the stocks and bonds Of
companies being held by foreigners need not be
discussed Certain it Is that while in london he least
attempt at bad faith the part of public company is at
the Stock Elk ,hapge ii That would be
destructive business Of all kinds the tendency at New
specuations for fall is to give tsct not aca re
cement TO every proceeding thai can produce dis
trust Thus the case OF the New York and New Haven
Railway where the rsuds Of Schuyler In ssupg false
st ok analogous to hose Of Sadlier Recpah and
Robson London drec felt sufficient confidence in
public support repudaie the Of their officer, and 10
dTi v "a
the president Of q bank, alter borrowing money
in England pleads usury to avoid payment, or the
hesd Of q trust company-a leader in certain
section Of the reliRio world-ges control Of
It's funds order rquander them thr ugh years Of M
gait with shareholders this side; or Secretary or
State or emily himself the advocate Of repuda
ton and laughs the crocodile tears OF the sufferers
their popularity in the precincts OF .he New York Ex
change never seems for moment Influenced. the
Leading merchants OF the city fe the disgrace and loudly
condemn 1t, but SO long those Who gain by such prac
tees find themselves still admired in the sphere whr
their profits made the opinion Of other classes has Ut
tie weight II Gill be rightly said, however,, that for this
there remedy The managers of the Board Of Bro
bers, either individually collectively All that the
European investor has to do Is to recoect that the fact Of
these feelings being in many against him. shoai
be one element of bis calculations But there other
points with which is in the power Of An official body
10 deal The Board OF Brokers can at least decide
upon the character Of the trans actions they VIII
permit 10 appear In their authorized stock lists.
In London no operation is allowed 70 be marked un:
less IL Ia for q certain amount, and 10 be settled
within reasonable tmc-a fortnight In the case OF
shares and foreign stocks and month In the case OF
coils. In New Yorh, on the contrary, when has been
arranged to create panic OF the Avor< devices 10
cell about fourth OF their actual money price few
hundred dollars worth Of shares 70 be delivered s.eve
would feel little CONSIDERATION he were TO see in TO
morows list that several sales had been effected at 20
This Kind of tactics however, daily permitted In Ameri
O. Even where understood Il creates uneasipess,
and OF course upon the unnitiaed abroad the effect Is
ucrbaps oontr,ves 70 realize IS 900 on some immediate
transaction To ordinary men Of business such proceed
ipes NJ for the betting ring than for
financial body whose operations largely affect the interests
Of amost ali ivilzed communities. II Is for the Board,
however 10 decide cir methods. Tue only thing
necessary to take that those methods arc not
supposed 10 be such as prevail among ourselves.
The Sugar Market OF England
From rrueman and Roses (louaon) Circular July -
unsettled and prices have experienced series OF ucua
iops, but al no time exceeding d. per owl during the
PAST fortnight there has been general ndhpoeon on the
mart of The trade 10 sept tho supply OF I'm
mediate but tho other hand holders are for the
Ths bp,es sses OF baskets java are axed for The
go The market for home refined has, through
out the month been quiet and prices show decline OF L.
Cd the quotations OF the lst ult, brown Jumps
being quoted 1t COS per c~t The consumption OF raw
sugar In the United K'gdom In the Eve months ending
3lst Nay was according the Official returns, 1866 100
tons sranst las 400 in the period Of last year, and
returns issued there has been no actual
falling OF In the deliveries, although the comparison
with last year does not show 90 fsvorably,
because The deliveries in June, 1856, were ex
uemely heavv, as the trade has previously rus
themselves very bare OF The imports during the
past have been very large, particularly of British
plantation and Cuba and the stock Great Britain sho
an In rese since the LIST ult OF 3ico TONS but com
pared with the first half OF last year there In falling CT
IN the imports OF n 400 tons and In the next three months
may expect further decrease Of 1000 70 900 We
estimate present stock In the Ave ports at 90 100 TONS
against 90 200 last year and anc cations 70 future
imports prove correct the stock three months hence will
show a stiI greater comparative deficiency In the prin
cipal continental snpo the 3lst May the aggregate
stock o IONS assinst % 7o0 tons In 1855, and
40 SEQ In 1856 The louisiana crop ID estimated nj
400 600 hoesheads which great increase upon last
year but the production OF sugar new generally
admitted 10 be inadequate 10 the sords requirements,
and from no tropical source do yet hear OF any
important development OF the cultivation. On the other
hand considerable increase In the manufacture nom
bee, root NAV be expected 10 take paoe In 1s5T5s but
NOT this regard the present prices Of