The Sun.
London, England, 1852-12-27 00:00:00

MONEY AND COMMERCIAL NEWS.

We extract the following from the monthly cir-
cular of Messrs. Smith, Campbell, and Co., of
Sydney, dated the end of August, which confirms
our remarks, made some weeks ago, as to the proba-
bility of the immense profits hitherto realised from
the exportation of sovereigns being, materially re-
duced :

" GOLD.—The profits which have been reaped from
investment in our now principal product, ' must
no longer be looked for. The arrival of the
Chusan steamer with confirmation of previous reports
of its unusual purity, and a simultaneous receipt of con-
siderable quantities of specie, have given impetus to the
market, and raised prices to a figure, which, considering
the position of the Exchange, is very close to its full
commercial value. Mount Alexander, by which (being
the purest and most plentiful) the values are regu-
lated, is now selling at 675. 9d. per ounce. The yield from
the Victoria mines still far surpasses that from
our diggings, but there is reason to hope that we shall
yet be enabled to come up to our southern neighbours
in production. An auriferous field has recently been
found in the Northern District, on the Begara, or
creek flowing into the Gwydir river, which the Com-
missioner describes as " likely to be inferior to none
hitherto discovered." We do not mean to say
that a Gold Field, so distant as this is from
our city, even if the Commissioner's opinion
should be not incorrect regarding its richness, can afford
equal advantages as do the more easily approachable
mines in the neighbourhood of Melbourne ; but the dis-
covery allows an inference that in the intervening large
space of country (which includes the Peel River and
Hunter River districts) there are many equally pro-
lific spots much more accessible, whence considerable
supplies of the metal may be drawn. The crushing
of auriferous quartz has been resorted to as yet only on
a very small scale ; but various companies have been
formed for the purpose, and one or two have already im-
ported the required machinery. It is hoped, therefore,
that we shall not have to wait long before the treasures
supposed to be embedded in the ridges of the Western
district are disclosed. We must not forget to mention
that it is intended to establish a branch of the Royal
Mint at Sydney ; when this has been accomplished, the
price of Gold in this colony will be little short of the
London value."

The English Funds maintain fully the buoyant
tone that prevailed prior to Christmas-day, and
Consols are apparently going higher, being 100 i to
101. The New 32 Per Cents. have been 1041 to
105, and the Three Per Cent. Reduced Annuities
1011 to Bank Stock has been up to 224 and
2242. The promised continuance of large remit-
tances of gold from Australia is calculated to in-
spire confidence, and the formation of the Ministry
likewise has its influence. The premium on the
March Exchequer Bills is 695.
Foreign Securities generally are depressed, but
the most essential change is in Mexican Bonds,
which have dropped about 1 per Cent., having
been 231, and since 232. Grenada Active Stock is
122. Equador realises 52. Brazilian New have
been 88 to 89, and Buenos Ayres 74. Peruvian
Deferred Bonds are steady at 642. Spanish Pas-
sive Stock is si, and the Turkish loan has declined
to premium. Sardinian Bonds are 951. Nothing
has been done in Dutch, Danish, or Russian.
Spanish Deferred are nominally 24 to 2.
There is no uniform movement in the Railway
Share Market, but prices, in several instances, are
higher. Great Western, Lancashire and Yorkshire,
North-Eastern, Midland, South-Eastern, and York
and Berwick have risen.
The Gold Mine Share Market has been firm,
though by no means so active as it was a few days
since. Colonial Gold have touched 4i, and Port
Philip 3i. West Mariposa are better. British Iron
are in request.
Australian Agricultural have touched 283; South
Australian are firmer at 50 to 52 ; Peel River 15
to 16 prem.
BR

ITISH FUNDS AT ONE O'CLOCK THIS DAY.

(From the Official List,)

- Business done.
Bank Stock
3 per Cent. Reduced Annuities lOl4 i i
3 per Cent. Consols Annuities
New 31 per Cent. Annuities lO4l 5 41
Long Annuities, Expire sth Jan., 1860 6 7-16
Consols for Account lOl 1001
Exchequer Bills lid. March. Juno.
£lOOO
£5OO
Small _
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds.. lo2i
Ditto New, 1852, 4i per Cent 99 8i
Buenos Ayres Bonds, 6 per Cent 74
Equador Bonds bg 4
Grenada Bonds, Deferred,
Mexican 3 per Cent
Peruvian Deferred 3 per Cent 64. 54 4,1,
Sardinian Bonds, 5 per Cent.
Spanish Passive (Converted) si
Ditto New Deferred, 3 per Cent 244
Spanish Committee Cert. of Coup. not fun 4l p e
Turkish Loan, 6 per Cent., 1852.
Dutch Bonds 4 3

Consols for Opening 18th January TH. REE OLOCK.
100/ to'
ICOOi ex d.

A DEAR EMBRACE.—On Wednesday afternoon a gen-
tleman went down in a boat to see a lady—we under-
stand a sister—a passenger on board the Orinoco, then
in the river. The boat went alongside the ship, and the
lady, on recognising her brother, ran down the ladder to
embrace him. The lady, after the hearty greetings were
over, returned to the vessel, and the gentleman was
about to return to Southampton, when, to his utter
amazement, he was ordered to be detained and put in
quarantine on board the ship for having contact with
one of the passengers ! 'Whether a step of this kind was
requisite, when Mr. Wiblin, the quarantine officer him-
self, is constantly going to, and returning from, the
Orinoco to Southampton, we leave the public and the
medical profession to determine.
THE MINISTRY AND THE IRISH BRIGADE. Mr.
Frederick Lucas assures his readers that, up to Thurs-
day evening, the Parliamentary party with which he is
connected had not been consulted as to the Irish ap-
pointments consequent upon the change of hands in
Downing-street ; and more, he in a manner promises
that, when the new Ministers are fully installed in their
places, the brass band will, as usual, be found ranged
in hostile array on the Opposition benches. It is clear
from this, that nothing short of a Cabinet chosen from
the leaders of the brigade will ever induce that respect-
able cabal to abandon their factious and disreputable
course of tactics. There are, however, limits of endur-
ance beyond which it might not be safe or politic to go.
IRON SHIP-BUILDING—GREAT ADVANCE OF WAGES.—
In consequence of the unparalleled briskness of iron
ship-buildinc, in Dumbarton at the present time, we un-
derstand that a very large increase has just been made
to the wages of the workmen connected with the princi-
pal branches of the trade. We believe that a similar ad-
vance has also been given in the other yards on the
Leven,—.Dumbarton Herald.

CITY, Two o'CLooK.
There was no Cotton market at Liverpool on
Christmas-day.
The American advices per Baltic and Europa
steamers are favourable in respect to trade, and
there was again a large quantity of gold coming
forward from California.
The Mexican political news is worse than ever :
the revolutionists proving successful, and the whole
country being apparently discontented.
The following concerns the Californian mines :
"The whole of the well-known Feather River estate,
of Thomas 0. Larkin, Esq., of California, has been
bought by some gentlemen of this city, with the inten-
tion of forming a company for mining and agricultural
purposes. Mr. Larkin, it will be remembered, was a re-
sident of California for some fifteen years previous to
the cession of that country by the Mexican to the Ame-
rican Government. During that time he became pos-
sessor, at low rates, of immense tracts of agricultural
and grazing land in different parts of California, of
which the Feather River property his only tract in
the gold region, forms a valuable portion. As an evi-
dence of his good judgment in the selection of his in-
vestments it may be mentioned that, many years ago,
he purchased a large extent of town property in the
city of San Francisco, which now pays him a rental
of 12,000/. per annum.
" It is certain that the resources of so large an estate,
in the working of the auriferous soil, can be better de-
veloped by a combination of interests, under the direc-
tion of a well-organised and powerful association, than
by the enterprise of any single individual however
wealthy, and this consideration has led to the sale.
During the year 1850, upwards of two millions of
dollars' worth of gold (400,000/.) was taken from a small
portion of the property, and there are now in operation
upon it six steam and water-power mills for the extrac-
tion of the precious metal."
The clipper ship Marco Paulo brings advices to
the middle of October from Port Philip. The
steamer Australia had left several days previously,
with nearly half a million sterling on board, but
we have as yet no tidings of her. Several letters
and papers of September have also been received
from Australia, brought to Singapore by the Chusan,
and thence to India and overland. This is a grati-
fying example of the benefit already derived from
steam navigation in insuring regular and prompt
communication. The advices concerning the " dig-
gins" are as exciting as any yet received. New
discoveries continued, and the production was
extraordinary. Some early measures for the supply
of grain will, however, be essential, as the large
number of immigrants arriving had caused a mate-
rial advance in all provisions. The difficulty of
getting ships away was as serious as ever, and
this is a reason why the supplies of food
thrown in may be temporarily smaller than is
required, not much room for cargo existing, so
long as passengers proceed freely and pay well, as
they must do. Our ship-owners trust that, when
an adequate police force arrives out and an increase
of military, sailors deserting will be brought to
punishment more surely when they engage for the
voyage out and home. Some compensation to the
charterers of vessels is afforded where the men ab-
scond, because they forfeit the balance of wages
due. House accommodation being scarce, many
of the ships are turned into hotels, and, there
were a harbour at Melbourne, this could be done
to a much greater extent.