The Sun.
London, England, 1855-04-16 00:00:00

Qqr. nt 20 nrirl nn

Ceeiee,
We have London letters to the 25th of January. The I
continued uncertainty as to the dtuation of war is not
favourable to the active resumption of business.
\V have no later dates from China or Australia.
Our produce market remains in the :aene inactive
state it has been in for some time past. Indigo is less
brisk, but the bulk of the crop of good descrintion is pro-
vided for. Rice is still going forward, but everything
else is dull.
We at last have the pleasure to announce a ore
healthy appearance in the piece goods market ; ad mvices
from up-country assume a better colour ; the money-
markets are easier, and although sales were being made
at a sacrifice on the cost, still goods are being moved off,
and godowns require to be replenished at the lower
rate; ruling here ; we consequently look for considerable
activity in our import market, althouli, except in some
few articles, at no advance in values, for the lower cost
at which ;sonde are now being shipped at herne will en-
able importers to sell them off on arrival, so that no
good can result from holding Off for higher prices.
Our in enee -market also shows continued improvement,
and, although the Bank rates keep interest high, still
money is of,tainaele on easier terms in regard to security.
It was thought by the native community that the Bank
of Bengal would reduce its rates of discount at the
weekly meeting of the directors on Thursday last, but
such a step would have been premature ; we know that
the stock of bullion is fast increasing in the Bank's
coffers, but it will be desirable for the amount of ad-
vances on Company's paper to be considerably reduced
before the screw, once put on, is taken off attain ; and it
is very gratifying to be able to hope that this step will
be secured at a far less sacrifice than at one time was to
be feared ; for, owing to the improved state of the money-
market, Government securities advanced in value cen-
siderably during the past week. Company's Fours
having been freely taken at rates varying from 5.8 to
4.4, or even 4 discount, but within the last two days
there has been less confidence, and at closing we quote
4-14 to 5 ; :iccas have also improved to 7 to 7-8 discount.
Joint Stock shares have not yet partaken of this im-
provement, but, unless holders press upon the market,
we think the large accumulations of capital and the
saving., of the services will sustain these undertakings at
nearly their late (-potations. The only transactions we
have heard of have been a few India generals at about
1,000r5., some Bengal coals at 1,650r5., with the right
to the new shares, which makes the present price of
shares 2,320 re. ; and about 50 shares in the Gloster Mills
Company, at I,ooors. per share, a rate which the divi-
dends on stock fully justify as their value in the market.
Bank of Bengal shares have been offering at 6,350r5. to
6,400r5.
Exchange.—At one period there was an expectation that
our rates for the present mail would have opened at an ad-
vance on last quotations, but such did not prove to be
the case; the supply of bills has not been large, and
although present piece goods collections must partly go
to repay the banks for bills previously given out on credit,
still a large portion is available for remittance ; and Ba-
nians, getting in their money more freely, are enabled to
discount for the merchant the sales now making ; conse-
quently the demand for bills is fully equal to the supply ;
the state of the home markets will not tend to increase
our drawings for some time to come, and it is not
thought that we shall have any large amount from
Cuina at the low rate of 4s. 70. last ruling ; so that if
the activity in imports shall continue, and our busy sea-
son for the up-country marts is at hand, we confess that
we concur in the opinion that lower rates must shortly
be looked for, unless under any peculiar operations of
the banks, which cannot be anticipated. Quotations for
the present mail may be taken as at 2a. 04d. to 2s. ld.
for credits, and 2.. Id. to 2s. lid. for document bills ;
the Oriental Bank is drawing at 2s. Oid., but some of
the other banks have drawn at from 2s. 0 1. to 2s. Old.
at 6 mouths' sight ; at close for this mail the rate is
rather looking downward ; Tie:ashy and bank post bills
are quoted at ls. 11p. to
Freights have shown a constant downward tendency
since cur last, but on the whole have been better Sup-
ported than, und,r former home advices and the ad-
eanced rate of exchange, could have been anticipated ;
the tendency of last news is thought to be in favour of
a rise, the demand for tonnage for rice and seeds con-
tinuir g ; Si 2e. 6d. all round has been offered an
American ship to load to London. Rates may now be
quete,l for London as follows :—Sugar and saltpetre,
4/. ; rice, 4/ lss. to Si, ; indigo, 5
61.
; jute,
4/. ; hides, 51. ; silk and fndigo, 61. to 71.; other goods
in like proportion. For Liverpool.—Rice 4/. 10e. ;
jute, 3/. 15s ; seeds, 51. 10,. ; other goods nominal.
For Mauri ins we now quote 2r. Is. per bag. To Ame-
rica the rates are from 16 doll. to 18 dole., or 15 dole. all
( round.