The Sun.
London, England, 1852-10-15 00:00:00

FRIDAY

EVENING,

eonsequenea of the great demand for shares the capital
was afterwardsfixed at 524 and this is too large
in proportion to tile liabilities. The average total
BAC:ties is only 56 lakhs, and it ia, generally considered
that the paid-up capital of a bank should be about one-
third the amount of the total liabilities. Judging, there-
fore, by this standard, the capital of the Bank of Bombay
should be only nineteen lakha, hut the directors now
propose to reduce it to rupees 26,12,500, 11°,i.g one-half
the present amount.

By order of the Board of Directors,
JOHN STUART, Secretary and Treasurer.
Bank of Bombay, Sept. 2, 1852.
The following propositions were then brought for-
ward:

Proposed by J. WARDEN, Esq ; seconded by Colonel
WADDINGTON, C.B.:—.' That an application be made to
the Government for a modification of the present charter,
as specified in the report now read to the meeting."—
Carried unanimously.
A slight conversational discussion here took place
principally between Messrs. Warden, Le Messurier, and
bttiart.

Proposed by A. S. LE MESSUDIER. Esq,, wconded by
Dr. M•LENNAN :-" That the thanks of this meeting
be offtred to the directors for bringing the state of the
bank to the notice of the proprietors, and for their very
clear report."—Carried unanimously.
The Chairman returned thanks on behalf of himself
and his brother directors, in a neat and appropriate
speech.

Great unanimity prevailed throughout the proceed-
ings, and the meeting separated shortly after twelve
o'clock.

Casualties by death in the armies of India since
the departure of the mail on the Ist of September :
Her Majesty's Troops—Ensign F. NlTherson, Bth
King's, at sea, on board the ship Herefordshire, on the
Ist of April.

Madras—Mejor C. 0. Fothergill, Ist N. V.
lica, at Cudderlore, on the 26th of August.
Bengal—Lieutenant H. Russell. 7th Regiment, N. 1.,
at Feruzepore, on the 21st ult., Major H. C. Bpileau, 28th
N. 1., at Dinapore, on the 22d ult.
BOMBAY MARKETS.
(From the Telegraph and Courier.)
BOMBAY, SEPT. 15.—There hae been a considerable
amount of business transacted in piece goods since the
departure of the last mail, but we regret to state that
owing to the large stocks held, prices have not improved,
and we look for no permanent rise in the value of im-
ports till after the Dewallee holidays, which commence
on the 10th of November.

THE BOMBAY MONEY MARKET.
There is still a vast amount of unemployed capital in
Bombay, and little or no demand for money. At the
opening of the fair season the banks usually raise their
rates, but this year the operation has been reversed for
the first time within the last twelve years. On the 26th
of August the Bank of Bombay lowered their rates one
per cent., and were followed, as a matter of course, by
the minor establishments. Advances are now being made
on the security of Government paper at three per cent.
per annum, on loans for three months. Government
and private bills are done at three and five per cent. re-
spectively; and large amounts at even a lower figure.
A few lakhs are being exported to Ceylon and the coast,
but our imports of bullion have far exceeded exports for
some time past. Actual monetary transactions are very
limited; our money market is extremely dull for the
season of the year, and likely to continue so.
Government Securities remained stationary during the
past fortnight, until the close of lest week: within the
last four days the Company's Four per Cents, have ad •
vanced from 92 to 924, and are now hardly procurable
at the latter figure. A further and considerable rise in
the price of paper of this loan, especially of the notes
issued in 1835.36, is expected. There being no outlet
for money, Government securities of all descriptions are
firm ae our quotations.
Bank Stock is in fair demand, and commands very fair
premiums, as will be seen by our quotations. Since our
last report the Bank of Bombay has made an important
move in the right direction, as will be seen by the
directors' report, which we publish elsewhere. It is to
be regretted that the original founders of the bank ever
accepted of a charter trammelled with such restrictions
as the then Government of India and Court of Directors
saw fit at that time to impose. Those restrictions will
now, no doubt, be removed, to the infinite satisfaction
and mutual benefit of all parties concerned.
EXCHANGE.—The unaccountable proceedings of the
Emit India Company in regard to their Exchange opera-
tions, have been severely felt throughout the whole of
India. We were just in the midst of the disorganixelion
into which their lowering a penny in the rupee, or nearly
en the 10th July, had thrown us, when, to
the consternation cent.,
and disgust of the whole Indian mer-
cantile community, the second July mail brought us
word that the Exchange had again been raised to 2s.
Some of our contemporaries suspect that there has been
a good deal of method in this madness; and that some
parties at home have had more than their fair share of
profit by those speculations. If the Manchester Asso-
ciation could procure and publish a list of the names of
parties who purchased bills from the 10th to the 24th of
July inclusive, they may by this means be able to esta-
blish grounds for a strong representation to her Maj esty's
Government. Hero, no merchant or banking establish-
ment can calculate with any degree of certainty upon the
issue of their transactions with England. If the East
India Company are to continue to rule the exchange
operations of India, they should be compelled to base
their operations upon sound mercantile principles. As
matters now stand we are at the entire mercy of a system
of jobbery which we trust ere long will be put a final
stop to.
Freights—There are, we hear, vessels in harbour
averaging 10,000 tone disengaged, and as there is a scarcity
of exports, freights continuo low. Our quotations are
21. ss. to Liverpool, and 21. 10s. to London. To China
we cannot quote higher than rupees 6i to 7 per candy.
Grey shirtings, 40-inch, maintain
improvednta i n their e ivra value;lue totheindeedx..
e
the lighter qualities havech'
tent of 2to 3 annas per piece. About 8,000 'pieces of
71b. cloth have been :field at Rs. 4 1 to Rs. 4 2; 45-inch
cloth has not changed in value, and the sales we observe
amount to about 9,000 pieces at Rs. 4 7 to Rs. 6 0.
Grey Long Cloths, 40-inch—We regret to say
.that
the market ter this article is yerydull. 15,000 pieces
have been sold at Rs. 3 14 to Rs II 2, the former at 81b.,
and the latter price indicating a .13f lbs. cloth.
Grey T. cloths have been sold toe large
extent at
formerly very low and unremunera r ing rates. About
20,000
pieces have been sold at Its. 2i to _
~, per
piece.
Grey Domestics--In the
Its. 14, and 1,000 pieces,
transactions. 100 pieces,have sold at
70 by 36, beena
630 e
bwye23, havea
thßeaer.dsf. very few
Grey madapolla sinare in rather better recpadesntit 3,000
low rates of Rs. 1*
pieces of 30 and 32ca at the
to Re.
2h7aviepebreeptledoies.pose
Grey j
improved aieneveate2o,
5f
000
tcle thei descriptions have de-
clined in price. nfefirnioerr qualities.have rather
at
pieces 4 O-inch have been sold
Rs. 12i to Rs.'l 14,0 f 45-inch have
deen disposed of at inldll,looo piecese
Grey drills and twills. 54 perpi e:
have declined. in price, but the
few sales made are not worth reporting.
Bleached shirtings and made. ollams are somewhat
scarce, and their value has Pd to the extent of 2
improve
to 3 annex.
Bleached cambrics have been sold to a limited extent.
at from Rs. 2 to Rs 3
per piece.
Bleached j
cconets, although they have improved iR_
value, are still sold at a loss, but we think that an ad-
vance may be yet secured.
Bleached Lappets-1,000 pieces 10 by 40 have been
dispoeccl of at Rs 1 10i to Its. 3 10.
In other dmriptious of bleached goods we hear of
very few transactions.
In coloured goods we have no sales to describe.
Cotton Yarn—ln twist the sales during the fortnight
have been very limited, and prices have receded. 360
bales water and 30 bales mule yarn have been sold at
our quotations. In coloured yarn we have heard of no
sales.

Metals—Very little has been done in these since the
last mail left.

Copper has been neglected, but at our quotation
prices are firm.
Iron has again advanced 2 Rs,
per candy in price.
130 tons English bar have been sold at Rs. 2.5 f ; 130
candies square nail rod, at 23 R. ; 700 cwt sheet, at
Rs. 41 per cwt. ; 1,200 cwt. hoop, at R. 4. Our
quotations for other descriptions of metals will be found
below.

Cochineal-200 lbs. have been sold at Rs. 2 4.
Saflron-175 lbs. have changed hands at Es. 134
per lb.

- Beer—There is none of Allsopp's and Bass's in the
market.

Cotton—There is very lhtle now for sale, and what
is now in the market is of inferior quality. The new
cotton is arriving very slowly, and the purchases which
havo been made are at the rates quoted below.
Iu other articles of produce we have nothing to note.