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

Clottcpn Supply Association.

Al the weekly meeting of the Executive Com-
iii!ttee nn Tuesday, a letter was read stating that a
Missionary of Tobago, West Indies, has been sue-
e,eesitil in growing cotton, and inducing the natives
to enter into the cultivation. Some samples of fair
Nest Indian have been forwarded, worth from 283,
t ° 3°d• per lb. A considerable extent of land has
ibeen Prepared, and application for seed was
~,i'rariteci, including Sea Island, which, it is ex-
'ected) will yield good results. A letter was
rceelved from the British Consulate, Islay, Peru,
,tePacting that a great desire prevails to
ent cotton, and that the valleys on the coast,
'Where there is a vast amount of land lying
are admirably suited for its growth. Appli-
cations for seed are frequent and urgent. An agri-
lealturist in the Valley of lambo, about eighteen
leagues from Islay, has already planted a consider-
able quantity of land, and would greatly increase
:la operations if he could obtain seed. Another
trhcant has 250 acres prepared for sowing ; and
his
Consul, in transmitting this repirt, expresses
.18 Willingness to aid, in every possible way, in
txteeding the cultivation of cotton in his district.
4 letter was read, enclosing two samples of good
:40'41 cotton from Liberia, worth 2s. 2d. and
,44• 4d. per lb. respectively. The writer expresses
alB desire to extend his operations, and a supply
of • aeed was granted to him for the par-
P2se. Letters were received from Cape Coast,
rise% stating that the growth of cotton is extend-
ng, pad that the results, so far, have been most
Eatiefactory. A copy of the Portuguese decree, for-
/verded by the Board of Trade, was received, which
Friinti 'Various bounties to the cultivators of cotton
14. the province of Angola, to be claimed and re-
ceived annually until 1872. A letter from Salonica
treports that the cotton crop presents a promising
PPearance, and the most energetic measures have
been
adopted to prevent the devastation of the
Macedonia,
His Excellency, Akif Pasha, Governor of
17acedonia, has himself been living in tents and
igiltB) to encourage the villagers to collect the
4ceasts. Upwards of 10,000 okes have thus been
gathered and as many more destroyed in the nearest
thePoreign Office was received from her Majesty's
ou
Peal at Janina, together with a sample
cotton grown from tha Xeres seed. The desire
tO cultivate cotton is rapidly extending in this cons
%flier district among both landowners and villagers ;
11,ething but experience is wanting to ensure com-
plete success, and to render cotton one of the staples
tr
the country. In the plain of Arta, there has
)been great activity. Early in the spring Mustafa
Pasha, the owner of a vast extent of prime land,
rent to his agent 5,5001 h of seed procured at Xeres,
'Which was distributed to four or five villages, in
rile of the plain most suitable for cotton, Rime
cY, another landed proprietor of Arta, has also
Pcented from Xeres 5,50011) of seed, which has
been distributed with a carefnl choice of locality.
Of 3,200 okes of seed supplied this year by
tl"ernment to :Epirus, 1,000 okes, or 2,7501 b,
have been sent to Arta, and distributed in small
rrtntities amongst 25 villages. The late Mudir of
~c,vieat before leaving, had also made experiments
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 alt 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
""ticlian cotton is se often adulterated, and which it
la hoped will be effectually checked by recent
legislation on the subject. There was no other
basin etas.

lONEY ARK ET

AND

C01111;2EZIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.
REDUCTION IN THE DANIi. ur .L:NUL/11ND

RATE OF DISCOUNr.

At their weekly court today the Bank of Eng•
land dire eters have notified that the minimum
quotation for interest and discount had been reduced
tr°lll 7 to t 5 per cent.
This ant touncement was not generally expected,
as a reduction was considered improbab'e till after
the distribution of the July dividends. The coin-
kereial ctaoses have therefore been very agreeably
.atirprised to) find themselves enabled to discount
heir bills n early one per cent. cheaper than they
Tt:(1 any right to' anticipate for a few weeks.
he.authorit ies have been for some time recnper-
k"ing their reserves, anl as it was very generally
,111°Wo that ;he position of the establishment justi.
finchd the rneenure now adopted, it has not ezcited
the astoni 'lament. During the past fortnight
availablo) balances of the banking and other
'lseount establishments have also shown a gradual
, aocre
se, and if account be taken of the farther
additions that will most probably be made to the
8
ti?PPIY of capital in the open market after the
17ldends ha.re been paid, it may be presumed that
tue authorities have only now discharged a duty
that would ultimately have been forced upon them.
The directors of the Chartered Mercantile Bank
°f India, London, and China have declared a divi-
dend at the rate of 10 per cent,, and have announced
4 call of £7 lOs on the new shares, payable on the
let July.
Negotiati ens are in progress for the transfer of
the of the British and American Exchange
to
the London and Colonial Bank.
r..
Sent h Eastern Banking Company have taken
foetnieea ad arranged for immediately opening
uu- additional branches, viz., at Hastings, Graves-
"d' Blackheath, and Clapham.
It has been announced that the share list of the
koireat Wheal Metal Tin Mining Company will close
Saturday next, the 18th inst., far London appii-
fra;ionB, end on the following Monday for those
°l3l the country.
The bicldings of 30,000,000 rupees (X 300,000) in
bills 01 India took place yesterday at the Bank of
b ringlanci, The proportions allotted were:—To
r'4luatta, 16,60,0000 rupees ; to Bombay, 12,00,000
Threes ; and to Madras, 1,49,000 rupees. The mini-
-'price was as before, viz., is 111 d per rupee on
I:h°'utta and Madras; and is Hid on Bombay.
ja:4s el)piications within the limits amounted to 183
I,;',El* Tenders on Calcutta and Madras, at is 114 1d
l receive about 26 per cent. ; on Bombay, at 2e,
411 "t 15 per cent.; and all above these prices in
..

the rill be noticed that the applications within
1,1,8 iiinits have amounted to £1,830,000; on the
that,
occasion they were £2,140,000; and before
$:1 , 2 4 0, 000.
eo
er prospectus of the Great North Vor Tin and
Prc)iT Mining Company has been issued, with a
elrilid capital of £25,000, in 5,000 shares of £5
nil 34 ; 'deposit, £1 on application, and £1 on allot-
41p at. Tie Company is formed for working the
voll4 included under the name of the Great North
le
is er:
~ The Property which it is proposed to purchase
114 to in the midst of the valuable and productive
lealsB and Crowan mines, and is to be held on
have ttr twenty-one years. The reports which
they been published concerning this mine are of
tricht satibLetory character. Captain Symons
4Jt 3 the Great Vor flucan intersects and divides
of Qtc/0 Equal parts the largo and productive basin
p ui etktliterous killas lying on and between the
of Godolphin and °rowan, and everywhere
in 1:134.the lodes which it disturbs. Captain Pascoe
the 18
I.°i
-inn Bays," one point of great interest in
Tutugrr re development of this mine, is the
e anoan which runs through the centre of this
trickll,A
"4 ithao through the richest mines inr this dis-
-1"011:,4 n4lnelY, Alfred Consols, Wheal rremayne,
too
earns, and Great Wheal Vor and Great Wheal
to tstline• This flucan is considered by all miners
the principal feature of all their mineral
th?lth." The property, however, cannot be oth©r
is -t1 of the richest and moat valuable kind; which
ther confirmed by the fact that, from the
r4lt Witeal Vor Mine which immediately Abuts

on it. Ore value £1,240,000 was obtained between
1825 and 1843. Captain Mark Reed, the late ma-
nager of the Great Wheal Vor Mine, bears his testi-
mony to the value of this project. This company,
therefore, with so fair a field before it, and a small
outlay have evident prospects of success. The clinic-
tors are gentlemen of standing and are eminently
practical men, hence, under such circumstances,
investors in its capital stock, the directors are
confident, may feel perfectly secure in realising re-
munerative dividends.

The Ivt week's r.--i,way receipts, mcertainod tip
to this day, are, in round figures, as under:—

1564. 1863.
Nor th-Wesf ern
South-Western
Brighton
Nlidland
North Eastern 61,042 51,154
Great Eas .ern
South Eastern
Bristol and Exeter

These returns when compared with those of the
same period of last year are of a very satisfactory
character. On the North Western there is an
increase of £9,917; South Western, £3,168;
Brighton, £1,769; Midland, £4.399; North
Eastern. 19,888; Great Eastern, £5,191 ; South
Eastern, £2,758; and on the Bristol and Exeter,
£92.

Two O'CLOCK.

At Paris this morning, according to Renter's
telegram, the Three per Cent. Mutes were 66f. We,
ex coupon.

There is an active demand for money in the open
market, and the rates are 51 per cent. for first-class
bills, and 5! per cent. for superior descriptions.

An alteration in the allowance of interest for
deposits has been made by Messrs. Overend, Gur-
ney, and Co., Messrs. Alexander and Co., and the
joint-stock establishments. The rate for money at
call is now 41 per cent., for seven days notice of
withdrawai 5 per cent., and for fourteen days 51-
per cent.

The market for the English Funds continues
dull, and quotations show a gradual downward
movement. The untavourable feeling regarding the
Danish question has been sufficient to counterbal-
ance what favourable effect should have been pro•
duced by cheaper money. Consols are now 894,
90k for money, and 90/ for the account. The New
Threes and; Reduced Annuities are 891; Red Sea
Telegraph, 20*; Exchequer Bills for March, Bs. to
3s. dis.; and for June, 43. dis.; India 5 per Cents.,
104} and the 4 per Cents., 991.
A general downward turn has been apparent in
the Foreign Stock Market and business is very dull.
Turkish 6 per Cents., 1862, are 77/ ; do., Con-
solid ea, 47i 484 ; Greek, 24 /; Mexican, 44* a ;
do. New Loan, dis. to prem.; Spanish Passive,
314 s ; Portuguese, 4811; Russian Scrip, 4 prem.;
Venszuslan Scrip 6 to 5* dis.; and the Confederate
Loan, 63 64.
Ba.,iness in the Railway Share Market has con-
tinued inactive, but in a few instances prices have
shown an upward movement. Gieat Western,
North Western, Metropolitan, and Midland have
each improved 53.; Great Northern A Stock, Lan-
cashire and Yorkshire, and Manchester, Sheffield,
and Lincoln, 10s.; and North Eastern (Berwick),
£l.

The Foreign and Colonial lines remain inactive
at about previous quotations.

Bank and Mi.icAlancous Shares are dull, and in
some instances are a shade flatter. Maritime Credit
Comp:ny are quoted lt• prem.; London and Vene-
zuela Bank, I, 11 prem.