The Sun.
London, England, 1864-06-16 00:00:00

;iation,

At the weekly meeting of the Executive Com-
mittee on Tuesday, a letter was read stating that a
missionary of Tobago, We3t Indies, has been sue.
cessfnl in growing cotton, and inducing the natives
to enter into the cultivation. Some samples of fair
West Indian have been'forwarded, worth from 28c1.
to 30d. per lb. A considerable extent of land has
been prepared, and application for seed was
granted, including Sea Island, which, it is ex-
pected, will yield good results. A letter was
received from the British Consulate, Islay, Peru,
reporting that a great desire prevails to
plant cotton, and that the valleys cn the coast,
Where there is a vast amount of land lying
Nertv.e, are admirably suited for its growth. Appli-
cati)ns for seed aro frequent and urges'. An agri-
culturist in the Valley of Lmb', about eighteen
leagues from Islay, has already planted a consider-
able qaintity of land, and wou!d greatly increlse
hie operations if he could obtain seed. Another
applicant hcs 250 acres prepared for sowing; and
_ll.e 00E81119 in transmitting this rep )rt, expresses
his willingness to aid, in every possible way, in
extending the cultivation of cotton in his district.
A letter was read, enclosing two samples of good
,!seftli cotton from Liberia, worth 2e. 2d. and
,zs: 4d. per lb. respectively. The writer expresses
his desire to extend his operations, and a supply
9f seed was granted to him for the pur-
Pose. Letters were received from Cape Coast,
Africa, stating that the growth of cotton is extend-
and that the results, so far, have been most
satisfactory. A copy of the Portuguese decree, for-
Warded by the Board of Trade, was received, which
grants various bounties to the cultivators of cotton
cithe province of Angola, to be claimed and re-
ved annually until 1872. A letter from Salonica
reports that the cotton crop presents a promising
IPPearance, and the most energetic measures have
been adopted to prevent the devastation of the
~,118ts. His Excellency, Akif Pasha, Governor of
i7seedonis, has himself been living in tents and
huts, to encourage the villagers to collect the
locusts. Upwards of 10,000 okes have thus been
gathered, and es many more destroyed in the nearest
tisinities of Salonica. A despatch forwarded by
the Foreign Office was received from her Majesty's
consul at Janina, together with a sample
of cotton grown from the Xeres seed. The desire
to Cultivate cotton is rapidly extending in this con•
sUlar district among both landowners and,villagers ;
nothing but experience is wanting to ensure corn-
Plate success, and to render cotton one of the staples
Of the country. In the plain of Arta, there has
been
great activity. Early in the spring Mustafa
481141 the owner of a vast extent of prime land,
sent to his agent 5,5001 b of seed procured at Xeres,
Which was distributed to fonr or five villages, in
parts of the plain most suitable for cotton. Feime
Bar, another landed proprietor of Arta, has also
procured from Xeres 5,5001 b of seed, which has
°een distributed with a careful choice of locality.
01. 3,200 okes of seed supplied this year by
Government to ,Epirus, 1,000 okes, or 2,7501 b,
have been sent to Arta, and distributed in small
rantities amongst 25 villages. The late Mudir of
Preview, before leaving, had also made experiments
With Xeres seed, which he had sown on different
descriptions of land. Everywhere throughout the
Arta district there is readiness and desire on the
Part Of all Classes to embark in cotton cultivation,
Which is the more remarkable as the people of Epirus
are to a proverb opposed to innovations. A letter
Was read from New York, presenting a gin to the
Association, which the maker thinks is well adapted
for long staple cotton. A sample was submitted
for inspection, showing the manner in which East
Indian cotton is so often adulterated, and which it
ae hoped will be effectually checked by recent
Legislation on the subject. There was no other
basilicas.

MONEY MARKET

AND

COMMOIAL INTELLIGENCE,

------~o --- -

CITY, TWELVE O'CLOCK.
REDUCTION IN THE BANK OF ENGLAND

RATE OF DISCOUNT.

At their weekly court to-day the Bank of Eng.
land directors have notified that the minimum
Quotation for interest and discount had been reduced
from 7 to 6 per cent.
This announcement was not generally expected,
as a reduction was considered improbalA till after
the distribution of the July dividends. The corn-
raercial classes have therefore been very agreeably
surprised to find themselves enabled to discount
their bills nearly one per cent. cheaper than they
Thad any right: to' anticipate for a few ,weeks.
litithorities have been for some time recuper-
tiug their reserevee, and as it was very generally
known that the position of the establishment justi.
lied the measure. now adopted, it has not excited
!Quell astonishment. During the past fortnight
the available be lances of the banking and other
discount establishments have also shown a gradual
Increase, and if account be taken of the further
additions that will most probably be made to the
dividends hay a been paid, is may be presumed that
the authorities have only now discharged a duty
that would ulctimately have been forced upon them.
The direct.c,rs of the Chartered Mercantile Bank
of India, idon, and China have declared a divi-
dend at the r ate of 10 per cent„ and have announced
a call of £7 10s on the new shares, payable on the
ist
Negotiations are in progress for the transfer or
the business of the British and American Exchange
t 0 the London and Colonial Bank.
The South Eastern Banking Company have taken
Prettliees arid arranged for immediately opening
four additir,ual branches, viz., at Hastings, Graves-
end, Blecleheath, and Clapham.
Great
It has loeen announced that the share list of the
"reat Wt teal Metal Tin Mining Company will close
" &ter day next, the 18th inst., for London appli-
efal°lls, and on the following Monday for those
41.41 thr j country.
EThe b iddipgs of 30,000,000 rupees (X 300,000) in
lla on _lndia took place yesterday at the Bank of
'iogland.. The proportions allotted were :—To
eSloutta, 16,60,0000 rupees ; to Bombay, 12,00,000
taPees ; and to Madras, 1,40,000 rupees. The mini-
pr ice was as before, viz., is Hid per rupee on
441eutt a and Madras; and is 111-d on Bombay.
tin applications within the limits amounted to 183
'renders on Calcutta and Madras, at Is Hid
dill receive about 26 per cent. ; on Bombay, at 2s,
fts
1314 14 per cent.; and all above these prices in
prlt Will be noticed that the applications within
e limits have amounted to £1,830,000; on the
th,f"uus occasion they were £2,140,000; and before
£1,240,000.
c 041,, prospectus of the Great North Vor Tin and
preePer Mining Company has been issued, with a
. each Nei capital of £25,000, in 5,000 shares of £5
feat,deposit, £1 on application, and £1 on allot-
This company is formed for working the
Voll—,,nlneluded under the name of the Great North
is :I. 411 a Property which it is proposed to purchase
tre"uate in the midst of the valuable and produetice
lee„ge and Crowan mines, and is to be held on
11.61; for twenty-one years. The reports which
the been published concerning this mine aro of
avelnost satisfactory character. Captain Symons
into the Great Vor flacan intersects and divides
or !WC) equal parts the large and productive basin
etalliferous killas lying on and between the
eoti„,gtaaite
is dof Godolphin and Crowan, and everywhere
ie es the lodes which it disturbs. Captain Pascoe
th:ls report says," one point of great interest in
great uture development of this mine, is the
sett °ln which runs through the centre of this
triet und also through the richest mines in this dis-
Polic,ananlelY, Alfred Consols, Wheal Tremayne,
and Great Wheal Vor and Great Wheal
to btu". This flucan is considered by all miners
we 8 the prin,:ipal feature of all their mineral
thaalth." The property, however, cannot be other
is °f tto I.che,s` end mostvs:u:ble kind; wtGich
ilrth confirmed by the fact that, treal the
Great wheal Vor Mine which immediately abuts