The Express.
London, England, 1848-03-22 00:00:00

OVERLAND INDIA MAIL.

We this morning received our despatches with files
of newspapers from India and China, in anticipa-
tion of the Overland Calcutta Mail. The dates are :
Calcutta, Feb. 7 ; Madras, Feb. 12 ; Bombay, Feb. 13-
The Bombay Times states that the successive exposures of
the villany of the proceedings of those connected with the
Calcutta Union Bank continue to engross public attention.
The concern had been pronounced utterly bankrupt, and
a contribution of 20/. was to be levied on e:ch share—
the wealthier shareholders to be compelled to advance loans
in proportion to their means. Further disclosures show that
bank bills had frequently been granted to parties without
any value whatever having been received in teturn. Some
six weeks since, when one of the earlier meetings oc-
curred at which the circumstances of the bank were die-
cussed, it was stated that indigo to the value of 220,0001.
was in their stores or on its way to them on the river ,•
and, this, it was resolved, should be sent home, and
sold on account of the bank. The astounding fact
now appears that it had all been disposed of before—
indigo warrants to within a trifle of the whole amount
having been hawked about to raise the wind; and
the goods were taken posserion of by the purchasen as
they ;arrived. The balance still realisable on the indigo,
reckoned at nearly a quarter of a million sterling, is just
12,0001. It now appears that there was wont to be in
existence an association organised for the purpose of
purchasing in Union Bank shares, so as to prevent their
value from becoming depreciated in the market, and that
1,100 have in the course of a few Years been thus purchased in,
Of course this was done by those who had access to the till
of the bank, and bad themselves nothing to lose; the
object was to keep up the share market, to maintain the
credit of the bank, and induce the unsuspecting to
purchase and become involved. How could an establish-
ment be insecure the shares of which were selling at par or
premium, whose lowest dividend never fell below seven
per cent./ Within six months of the declaration of its
insolvency, and years after it had been is reality insolvent,
men of subetance were deluded so as to purchase stock—
and now are ruined. The Laudable Assurance Company it
seems invested their funds for the convenience of individual
borrowers, on the security of bank post bills and other docu-
ments now become worthless, and though the 50,0001,
formerly spoken of as sacrificed in this way may not he
altogether lest, a fraction of it only will be realised.
Banking affairs on this side of India are looking up again.
The Agra Bank has just published a statement of its affairs,
and declared a dividend, which must be most gratifying to
its shareholders. Much dismssion has been excited by the
publication of Calcutta of a draft act for Bombay,
which virtually excludes agents and counsel from the Small
Cause Court in cases of sums sued for not exceeding 100!.
The clients are themselves to appear in court, and manage
their own business, the judge virtually becoming counsel
and attorney. The author of the measure is Chief Justice
Sir Erskine Perry. An attempt to introduce a kindred
one was formerly condemned by the Supreme Court of
Calcutta and the home authorities; it is said now to
be in the way of being hurried through to take us by stir.
prise. It has met with almost unanimous condemnation,
and a strong memorial against it is in process of signature at
Bombay. The Chief Justice bad gone round in person, to the
capital, it is said for the sake of getting it accepted by the
Legislative Council. The Punjaub scarcely affords a line
of news. Sir John Littler and staff left the capital
on the 21st of January for Julluudhur, from whence he
would proceed for Calcutta on the arrival of Sir Frederick
Carrie. An ~mute, attended with trifling loos of life, had
occurred in the gaol amongst the prisoners. The escape of
a number of the convicts is reported. Major 111.0regor had
left Lahore for his new appointment at Bewares. Official
notice has been given that no officers are to proceed to
Cashmere without the especial sanction of the government
of India. • . _ .

Great preparations were making for the reception of Mr.
Clerk in Scinde. Mr. Pringle and his staff were to proceed
to Tette, to meetithe governor and accompany him to:Hydra-
bad. The commissioner is said to he about visiting all our
posts up to Janeedera. The country was healthy and quiet,
but in some parts fears had began to be entertained of a
sanity of water. The lieutenant-governor of the north-
west provinces arrived at Delhi on the 11th instant. The
Marquis of Tweddale has not yet quitted Madras, nor is it
known for certain when he intends doing so. Sir H. Pot-
finger is expected to arrive from the Cape by.the middle of
Merck. The Right Hon. Earl Gifford was at Simlairehen II
last heard from, accompanied by Lord W. M. Hay.
The King of Ouoh is said to be in a state of considerable
alarm cou,quent on the reforms in his government pro-
mised to Lord Ilardinge to he effected not having as yet
been begun by him. The Atlas Insurance Office of Calcutta
has been recommended to bo closed, and a call of 1001. per
share has been made on the shareholders to meet the liabi-
lities of the concern. Messrs. Cockerell and Co. were
the Indian secretaries, and Messrs. Cockerell, Larpent,
and Co., the London agents of the company. The use of
chloroform is now becOming general throughout India.in•l
surgical operations, and is invariably attended with the
happiest results, The convicts Fitzsimons and ,Living-
stone have lett Bombay for New South Wales. The
ship Vernon, and frigate Cambrian, bearing the flags
Rear-Admiral Inglefield and Commodore, Plamsidge re-
spectively, have arrived at Bombay. The Bishop of Bom-
bay is at Deesa, where Major. General Barr was-expected
about the 20:h, toinspect the brigade, .when he would„prio-.
ceed to Mount Aboo for the hot season. Trade at all the
presidencies is dull, and the scarcity of money much com-
plained of. Very little sickness is heard of, and the weather,
which from the 2nd to the 9th was unpleasantly cold, is very
amicable.

CO/lIMERCIALsINTELLIOENCE.
CALLT9TA, Feb. 7.--Our markets here, since the date of
ccr ion report have been in rather an unsettled state. Distrust and
want of confidence bare increased, and are extending among the
lade portion of the merrantilecommimity. We hare, happily, no
leircasualties to report among the European houses; but mend
Sieve firms bare suspended payment.
Our'export market has been inactive, and prices of produce are
Mtleraily lower. The very discouraging advices reeshedot theism*
am4le, and the kigh rates of freight hate induced buyers to gents
Moolitym,_,_l -.Me and with great eaution. Supra are preered'on ths market
pee boa increased the declininctendency. There has
ano, an animated inquiry for saltpetre, bui the want of tonnage bad
lastricted openitions. There Is nothing doing in silk, and silk pee
IMM2OIII remain neglected_ Rice bas attracted a good del of
_
Oati, and a fair amount of business has been dons In it.
ta °err iMPOrip a t market good demand has existed for Cotton
arm goods, which have been moving off freely, but generally at
such leer; rate, holden being more ready to meet the Mews of
M7ers. _
'Mule mid bas continued dull,and for the same the
*Ms been moderate. Metals remain without alteration.
_„ eke .ne Money.market has become more tight, and the wants
toemantile community mere urgent. re, the =Mrs df
Ronk a Bengal remain full. for want o approved lavas--
,'""rtm. A considerable decline has taken place in Doren:trent
"'WWI- The following are our present quotations :—New Fire
rOll4. 1.2 to 1.9 discount Old 6ime Rupees, dine, Ad to 6
, ; sea rs., 4 prr cent. 19-6 ditto; Com Pants re,ditte. to
Ilto• Bank of Bengal shares are 2,190 r. 2,WOr. premium,
te,,,Lag 9
airs
4pOr. lower than our laid quotidian.
...ex* aof the Union Bank rue in train of liqttidation, under
IBBOrrteekt el • ccomiemb ocomieting of oda /a has tie