The Sun.
London, England, 1852-09-29 00:00:00

4 - 5

18% - 19%
32 - 33%
44 -46

183% 20
38 —39 x,d
46% 47
16%8 17%

1 -1%
49% - 50%
6 -6%
17 -18

ICELLANEOI7I
3 - 4
50 -51

30 - 30%

••• -.••
4%8 -51,4

iii,i = 29%

2 - 2,4
85 - 86%
35% - 36%
78 -80

3%1 %

MONEY and COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
_ _ _

The sales of Cotton at Liverpool, yesterday, were
estimated at from 8,000 to 9,000 bales, of which 2,560
American were taken on speculation. The market
closed firmly, and, as compared with Friday's rates,
American at sd. to 51c1. were up. Other kinds were
also higher. The sales comprised 6,500 American,
1,500 Egyptian, at 6d. to 11d., and 200 Surat, at 32d.
to 44d. per lb.—Railway Shares continuo dull at lower
prices.
The many new companies that are being brought be-
fore the public present different claims for support;
some fair, others doubtful. Banks, established on
a sound basis, with an adequate and not excessive
capital at the outset, but yet with the power
of calling fur increased subscriptions, must act as a
powerful lever in our colonies. Judiciously ma-
naged they bring out the latent resources of
the different possessions, and stimulate pro-
duction. At the outset, however, it is inex-
pedient to have too large a capital paid up, for this
necessarily leads the managers to the precipitate ex-
tension of business, and to consequent risk. By a libe-
ral, yet firm course, the most severe periods of commercial
reaction may be happily got through. The Colonial
Bank is probably the most striking recent example of
Ole, having lost enormously by the revulsion in the
West Indies, and yet by dint of extreme vigilance, by
cessation of dividends, and with the support of a
handsome reserve fund, the lost capital has
been to a great extent restored, and with the
experience so dearly bought the Bank may henceforth
enjoy a comparatively prosperous career. The now
Australian banks may probably answer well, but it
should be rather by the extension of monetary facilities
in fresh channels than by unwholesome com-
petition with the existing institutions. In the
common course, Australia, grown suddenly rich, must
need larger banking accommodation, but she wants no
lavish advances to her settlers in the time of their ease,
to be withdrawn upon the day of pressure. It is not
many years since that sheep, cattle, and wool were
driven up to enormous prices, and imports were
extraordinarily increased from England, until the
memorable Australian panic ensued, that brought down
the price of live stock to a ruinously low point, forcing
the owners to boil down their stock for the sake of the
tallow, and beggaring men who for years had believed
themselves to be men of substance. This trying ordeal
at length got through, though a weary time
it has been for Australia, we are now lighting upon a
new era, and it will depend upon the policy of the banks
whether they enhance or retard the prosperity of the
colonists. We have seen already one or two important
banks started upon British capital run aground or dragged
through the mire of our chancery courts. First in im-
portance will be the duty of keeping up an adequate
supply of coin, and offering convenient arrangements for
the transmission of bullion, nor will even the establish-
ment of local mints altogether relieve the banks from
this task. What has been done in South Australia should
teach us the importance of adaptation to circum-
stances, and it is surprising, in the face of
such practical evidence, to hear objections started
to the course pursued at Adelaide, in stamping
gold ingots to pass current there at 31. 1 ls.
per ounce. If it could be shown that gold was
not worth 31. Hs., or if there were no mother country
with a fixed standard, open as a last resource, we could
understand the cavilling. What is now predicted by
some, concerning the probable future embarrassment
of South Australia, because she is buying gold beyond
the value it may hereafter command, would apply
correctly enough to England, which has no neighbour
so simple as to relieve it at even 31. 18s., of the metal
for which it has allowed without the slightest re-
ference to supply or demand, the unvarying price of
31. 17s. 104 d. When we alter our standard, then will be
time for the Government at Adelaide to lower its terms.
The projected Bank of India requires a passing notice
now we are treating upon an analogous subject. India
is a country which suffers frequently from temporary
fluctuations in the exchanges, and large shipments of silver
have alternately to be made from this side or the other,
while the demand upon the Hon. East India Company
for bills alternately flags or rises in a ratio anything
but satisfactory to steady-going men of business. If a
new bank can assist in this respect it will be really a
boon, and it has an especial field among the native
population.
The value of Bills of Exchange upon the rairninc,ip9aol
Continental cities was enhanced yesterday.
days, was taken at 25 47i to 52i, Amsterdam
01426.0 t°
liamburgh 13 8i to 94, and Trieste 11
42c1 there have
Public Securities are quiet but firmer,
WO to are
been some money purchases in Consols art:hat
up the price to 1004 ; just now, hover"ces are 10041.
the nearer values. For Account the p
- and India Bonds
Exchequer-bills of March bring have sent
is at
but Grenada
87s. premium. South Sea Stocill
Foreign Stocks have been du
freely brought to mar-
Deferred Bonds have been more
and The Turkish
124
7911:t.'111 to
ket, and have receded to
and
gi premium. Peruvian
Loan has improved to 91"
Deferred have rallied to 64 and 65. Mexican Bonds are
25i to day," and some Railway Shares are
worse, according to the course
aasde
taken. Generally they tend up-
that speculationbetter,
keohtli
shares are risieg and Belgian are higher.
wards. North-Western suffer by Mr. Glyn's resigna-
tion. French - '
premium.
India are -.7s -a
Upper In
Gold Mines are steady, but net brisk. United
Mexican much the same. ChArtera Bank of Australia
tin lower.

,
QUAI?7'EI? TO T
lighß•
ronsta ..„. ... , 100 i
Ditto Account. Oct. 13 —. .., 100 i lc
BRITISH FUNDS THIS DAY AT ONE O'CO
(From the Official List.)
q per Cent. Consols Anne.
New 5 per Cent. Annuities ............127
India Bonds under 1.000/..... ..........81 r 111
South Sea Stock 111%%
Consols for Account 100% June'
Exchequer Bills. I%cl. March.
1,000/.
5001.
Small
?RICE OF FOREIGN FUNDS AT ONE O'CLO
Grenada, 1% per Cent. -
Do. Ex Dec. Coupons 1849 22%
Ditto Deferred
DI izican Bonds, 1846, 3 per Cent
25 --
Ditto Account
.. -
Peruvian Bonds, 1849, 6 per Cent....
64 --
65
Do. Deferred 3 Cent.
Sardinian Bonds, 5 per Cent. 96
Turkish Loan, 6 per Cent.
1A
Dividends on the above payable is London.
Dutch 21.4 per Cent., 12 Guil.
Ditto, 4 per Cent. Certificates 99,14 '

HOP INTELLIGENCE.
offaready been discharged, the hops having
l MAIDSTONE.--In some grounds the pickers have
the poles ; but, generally speaking, hopping null
be expected to last to the middle of next week. So far
as we
have
been cleared
ave yet beard, accounts seem generally favour..
able, both as regards yield and quality. The quantity
is certainly equal to—in some places perhaps el'
ceeds—the original expectation of the planter ; in
quality th 9 hops are very good. The average betting is
from 255,0001. to 260,000/. ; whilst maul persons
have been heard to express an opinion that the dutY
will be still higher. No doubt can be entertained
that it will be, under any circumstances, if not the
least,
highest that has ever yet been pai—at
bars of Irish hoppers passed through second only to any previous year. Great nut"
on Sunday, on their way home from Farleigh, where
they were paid off on Saturday, from Mr. Ellie'
do
r. Green, of Boxlev, has also, we understan
finished his -
picking - . A 111111
THE WEALD. —A large quantity round
been cleared, notwithstanding that the picking has
been retarded by the late rains. We have no reasoa
to alter our opinion of the crop, which must be an'
gb Maidstone
usually heavy, the flower being so free from disease
and in such fine aromatic condition. During the
last week we have had rather foggy nights,
sun during the day has changed their colour a little,
and rendered it very desirable to secure tbe r;
mainder of the crop as soon as possible. W. is
hope the planter will not be too PreciPbe
Late in forcing his growth on the market; if
ti
does, a glut will ensue, which vvill cause an uanatt'
and a hot
ral depreciation of their value. Even if the d.u!
pays 50,000/. or 60,0001. more than the consumptiwo
ar
we must not forget that when hops are so well gro._.
as_ they are this year, and prices reasonable, an.__l.,,u
dthucement i held out for the speculator to come Jr,
e markets and if he does he will soon take 011:07
surplus over and above the consumption. In lour
the planter, by Judiciously
thus much, we are not disposed to quarrel with
present attainable prices ; we are only desirous
market,
supplying the we' for
every one knows that, if the supPl9
should render the present quotations permanent ; re,
ponderate over the demand, the buyer has the advance
tage on his • side. ar hig
will
CANTERBURY.—The hop•pickiug is 1:1'00 e5Ls 100
every way satisfactorily, and in many inste'coted
extend over a much longer period than was "P- late
someh are producing beautiful samples. The,
_.,,,
eav rains have not perceivably injured the
tnc
thoughthe
it has been rendered very unpeasan...t r
pickers. Some is made to pan.
very heavy growths vall;;:
produced from this neighbourhood, sucllnter.
has every
bury), C. Marten, Esq. (Chilham),
Hammond's (Pelham), H. Cooper, Esq. I& toe
(Selling), W. Carter's (Blean, who has fifty acres,
and
Messrs. e 9 a
not more, as the late picked hops weigh sole
several others. The duty will reach 260,000_00
__
appearance of growing as many tnne):,,, if
very unpleasant proceedings have taken pe 0.0 theo
well.
on
511
part of the Excise, relative to the growers iv
neighbourhood using the City arms on their P? to
—which would never have been noticed but IN _
bod
interference of some, most probably intersted, WAY
y. ~, i in foil
BouGuToN MONCHELSEA.--The pidio.B. -g ~. 00
operation. The quality for which tnis parish 17,bis
long been famed will be kept up by the
quality. This parish can, piant,erat.roste
year, as the present crop promises to be nt. Doffs one
very splendid growths of Goldinget but tir j.,ove
does not exceed the planters' expectations-410mb
Journal. as usual, boast _
crop

getup
(20 railes open
CORK AND BANDON RAILWAY.---
cIK 1852:'"'
of Traffic for the week ending Sept. 3 1-
Z 1" 0
Passengers, parcels, &c. 31 15
Merchandise, cattle ,&c.... •••
£152 18 11
Total ... "" en) :--
Corresponding week in 1851 (10 miles op 34 15 1
Passengers, parcels, &c. ••• 06 3
Merchandise, cattle, &c.... "'
05 1 4

NEWMARKET RACO.
(Tins DAY.)
EGRAPO.)
(BY ELECTRIC TEL

Total ••

..•
•••

1
"• 1

Handicap.

Match—Exeter beat Herbert.
Match—Gossip received from Tormen
ST. LEGER.—Stockwell is said to be a certain start"
Bobbie Noble arrived this morning.

Cuckoo filly
Molasses

1