The Sun.
London, England, 1852-12-02 00:00:00

COMMERCIAL INTELLIGENCE,

BOMBAY, Nov. 2.—The money market remains wi

The money market is still superabundantly supplied,
and capitalists find much difficulty in obtaining good
investments for their funds. All kinds of respectable
joint-stock shares are growing dearer, and less obtain-
able at current rates. Company's paper has maintained
the improved value noticed in our last report.
Exchange with London remained at 2.0$ and 2.0 k
for first-class credits until the close of last week, when
the rate suddenly rose to 2.04. It afterwards receded
to 2.0 a, where it stood when we went to press, but no
great desire was displayed by either buyers or sellers to
operate at that rate. 90 days' sight bank bills from
China were offering at 2.0 k.
Owing to an accesion of tonnage, and the anxiety of
commanders to get away before the commencement of
the holydays, the rates of freights have further declined.
Our quotations now are 31. for saltpetre, and 3/. 2s. 6d.
to 3/. ss. for sugar, for London.

LAW INTELLIGENCE.

EQUITY COURTS—DEC. 1.
(Before Vice-Chancellor Stuart.)

BILL TRANSACTIONS WITH AN UNDERGRADUATE.-IN•
JUNCTION GRANTED.

• Mr. Anderson and Mr. C. Hall appeared in support
of a motion (they made ex parte after an ineffectual at-
tempt to serve the defendant, Mr. Benjamin Collett, of
Sise-lane, London, with notice of making the motion)
that the defendant Collett might be restrained from
indorsing or parting with an acceptance which the plain-
tiff had signed in blank, and that certain proceedings
which had been taken in Scotland for execution against
the plaintiff, or as it is there called diligence, and the
warrants thereon and all other proceedings in relation to
that acceptance, might be restrained. The following are
the principal circumstances under which the motion was
made : The plaintiff, Lord , was on the 21st Feb.,
1851, a minor, and a fellow commoner of one of the Uni-
versities, and he on that day received a letter of which the
following is a copy :—" 26, County-terrace, New Kent-
road, Feb. 19, 1851.—My Lord,—Being in the habit of
raising money for noblemen and gentlemen, and thinking
that your lordship might require the loan of a few
thousands during your minority, I have taken the liberty
of writing to you to say that your lordship can be accom-
modated with any amount you require upon your note
of hand, the principal and interest to be repaid within
three months after you attain your majority. Should
your lordship wish to avail yourself of this offer, a note
addressed to me as above will receive immediate atten-
tion, and the same will be considered strictly confiden-
tial. I have the honour to remain, my lord, your lord-
ship's most obedient servant, H. WILSON. The Right
Honourable The plaintiff replied to this letter
soon after he received it, and requested to know the
terms on which money would be advanced, and received
a reply as follows :—" 26, County-terrace, New Kent-
road, 24th February, 1851.—My Lord,—ln answer to
your lordship's note, I beg to say, that as the term for
which the money would be advanced is rather a long
one, and any document your lordship may sign is not in
the eyes of the law considered binding, a larger interest
than usual would be expected. Your lordship can
have 1,0001. by signing a note of hand, in blank,
for 1,2001. The said note of hand to be filled up when
your lordship attains your majority at any date most
convenient to yourself (that is to say) your lordship can
then fix the time of payment yourself. If this will suit
yourself I can if more convenient to you than coming to
London send the document for your signature by post, and
remit the money through your lordship's London bankers,
if you will favour me with their names. Your lordship
can have a larger amount if necessary. Waiting your
lordship's reply, —I remain,, my lord, your lordship's
most obedient el ervant,—E. ILSON. —To the Right Hon.
The plaintiff -wrote in reply agreeing to borrow
1,000/. on the terms offered. In answer to his letter he
:—" 26, County Terrace, New
Kent-road, March 1, 1851. "My Lord,—Be kind
received the following
enough to write across the enclosed stamp the words I
have written in pencil, and a copy of which I send you
on the other side and return it to me by post, when I will
pay into Messrs. bank 1,0001. to be paid to you
through Messrs. The said document will be
locked up until you attain your majority, and will then
be filled up at such a date as may suit your convenience
to pay it, of which
you can give me due notice by letter
or otherwise. On
,
receipt of the money your lordship will
be kind enough perhaps to send me an acknowledgment.
I have the honour to remain, my lord, your lordship's
most obedient servant H. WILSON. Right Hon. —."
The words referred to as having been written in pencil on
the other side of the bill, were as follows :—" Accepted.
Payable at Messrs. and Co., bankers, London. Signed
" In this last letter a bill stamp was enclosed in
blank, except that on it was written "1,200/." This bill
the plaintiff accepted as desired, but he added the date
"2d of March 1851," and returned it enclosed in a letter
to Wilson, desiring that the 1,000/. might be paid in a
specified manner. On receipt of this letter Wilson wrote
to the plaintiff, enclosing a bill stamp similar to that
contained in the former letter, and stated that as the
plaintiff was a minor the acceptance with the date was
useless, and asking for an acceptance without any date.
The plaintiff returned the bill stamp accepted without
date, as desired. He asked for the money to be paid to
him, but he stated that he never received any considera-
tion for either of the two acceptances for 1,2001. The
plaintiff on the 14th of March,
1851, received the follow.
ing letter :—" My Lord —I have been applied to by a
person to cash an acceptance of your lordship's ; but, as
I prefer dealing with principals, I take the liberty of
writing to your lordship to say, that if you will get a
friend to join you who is of age, I shall be most happy
to cash your bill to any amount. The person who
offered me your lordship's bill I cannot, for certain
reasons, negotiate with, and would, with due deference,
suggest to your lordship the propriety of clearing your
transactions with the parties.—l have the honour to be,
your humble servant, HENRY THOMPSON.—To the
Right Hon. The plaintiff's suspicions hav-
ing been aroused, he instructed his solicitors to act for
him in the matter. On an application by them at the
informed that a person oft hat name had lodged
Wilson had given, the solicitors were
tandedir•ee,ssbuwthitch that he had left, and , his residence was
not known. An application Was made at Thompson's
address for an interview, but none could be obtained.
On the plaintiff attaininghis majority a short time 'MI6,

out change. Considerable difficulty is experienced in
employing capital, but as the new crop begins to arrive
at market, we may shortly look for a slightly altered
state of things. Government securities and shares con-
tinue in fair request.
Exchanges.—On London, at six months' sight, per r.,
2s. ld. for document bills ; six months' sight, per r., 2s.
Oid. to 2s. 15-16 d. for ct. bills. On Calcutta, at 60 days'
sight, per 100 rs., 100; 30 days' sight, per do., loog. ; at
sight, per do., 1001. On Madras, at 80 days' sight, per
do., 100; at sight, per do., 100 i. On China, at 60 days'
sight, per 100 dols., 224 r. to 225 r.
Freights.—To London, 21. 12s. 6d. per ton ;to Liver-
pool, 2/. 12s. 6d. per ton ; to Calcutta, nominal per rass;
to China, Hrs. per candy.
Pepper.—Bhutcol arrives in very small quantities.
We quote at Rs. 66, and Tellicherry arrives in moderate
quantity, and prices have declined.
Linseed.—Candeish, Rs. 3 10-16, and Sholapore, Rs.
3 9-16. Stock of both very small.
Opium.—The market has been pretty steady. We
quote Rs. 1,070 for new. The quantity of old remain-
ing is inferior. The nominal quotation is Rs. 1,085.
CALCUTTA MARKETS, Oct. 6.—The Pottinger, with
London dates to the 24th August last, arrived on the 29th
ult., and the mails were delivered on the evening of that
day. The commercial intelligence is not of an encourag-
ing character. Little animation existed in the markets
for colonial produce, and several important articles were
flat, and had declined in value.
In our export market the above news had the effect
of discouraging shippers of sugar, and notwithstand-
ing the limited stock of Benares and the decline
in freights, the grainy sorts have given way 8 annas
on the lower, and 8 to 6 annas on the better quali-
ties. The demand for saltpetre has revived, with
an advance of 4 to 6 annas per mid, on the finer re-
fractions. Rice is again going forward to Great Britain.
The market is bare of safflower. The rainy silk bund
has proved a failure, and very little is expected from the
October one ; there is no demand, however, and prices
are somewhat easier. Corahs have been taken more
freely at full value. Lac dye has been in good request,
and largely shipped. Shell lac has also been in good
demand ; the coming twelvemonths' supply of the D C
mark has been contracted for at 12-2 per md. More in-
clination to operate in hides has been evinced during the
last few days, but the supply in the bazaar is small.
Linseed has been liberally taken for Great Britain and
America ; the supplies are moderate, and prices have
improved. Rape Seed has been more inquired for, and
has advanced a little in value also.
In our Import market rather less business has been
done during the past fortnight than for some weeks
previously. The market for cotton goods, however,
is generally healthy and firm, and the local trade
sound, while our advices from the upper Pro-
vinces continue favourable. Operations in cotton
piece goods have been checked by the difficulty
experienced in forwarding them per river steamers.
The boats of the two River Steam Companies are inade-
quate to meet the requirements of the trade, and the
Government boats, owing to the exigencies of the State,
are not at present available to the public. The near
approach of the Doorga Pooja holidays, which com-
mence on the 17th inst., had also had the effect of
causing dealers to curtail their operations. Grey shirt-
ings have been placed to considerable extent at an ad-
vance of 1 anna per piece. A fair inquiry was obtained
for the lower qualities of shirtings. Large quantities of
the lower qualities of jaconets have found purchasers at
full prices. Book muslins are quiet, but holders firm.
Mull-mulls are in demand at slightly improved rates.
The business done in mule twist has been comparatively
small, with a decline of 1 to 2 pies on Nos. 40 to 100 ;
stocks, however, are moderate, and the principal
holders firm. German turkey red yarn is in good
demand at better prices ; British dye is inactive,
but holders confidently adhere to recent advanced
prices. The demand for copper has subsided,
and the value of the sheathings has receded rs.
3 to 3.4 per md. An active demand exists for
sheet iron to supply the wants of the upper provinces
at an advance of 6 annas per md., and this metal
generally is in a good and improving position, with mo-
derate stocks. Spelter is at present without inquiry,
and its price has gone back to 8-4. Lead is in fair re-
quest.