The Sun.
London, England, 1853-09-29 00:00:00

AUSTRALIA.

The Typhoon, from Port Philip, has brought
7,373 ounces of gold, valued at 29,4001. The Marl-
borough has also arrived with 72,000 ounces, valued
lat 288,0001. The Essex is likewise reported, but
hbeelrieamount foowevgeorl,d
tihs
ant t not yet
aassacetrtisntedb.roulgthits
about 10,000 ounces.
The dates brought by the Marlborough (Allen
W. Young) from Port Philip reach to the 4th of
July, this vessel having arrived off the Lizard in
83 days. Her advices, therefore, are nearly a
month later than those previously to hand, and,
together with those of a rather earlier date, which
have also been received to-day by other vessels,
are of an important character, since they will
increase the serious anticipations expressed re-
garding the probable fate of the consignments
lately made from this country to the colony.
The import market for goods was already over-
stocked, and a vast proportion of those which
consisted of unsuitable articles were apparently
being sacrificed at auction at little more than
nominal prices. With respect to provisions, a simi-
lar state of affairs seems to have approached.
Sales that had been made of malt liquors to
arrive had been disowned by the purchasers
on various pretexts, while, as regards flour,
it is said there were 50,000 barrels in the port, a
great portion of which, according to some accounts,
would be shipped to England. The Eagle, which
was to sail about the beginning of July, is said to
be bringing over 6,000 barrels, at a freight of about
Bs. per barrel. Three hundred ships, with cargoes
on board, were lying in the harbour, and mean-
while the charge for lighterage was becoming more
exorbitant, 355. per ton being demanded for free,
and 40s. to 455. for bonded goods. An impression
seems to have prevailed in the colony that after the
present arrivals future supplies might probably be
only moderate, and that hence some recovery in
prices might be looked for when the roads to the
mines, which had for some time been impassable,
should again be opened, more especially as the
accounts of the gold production were very favour-
able, and it was understood that goods were wanted
there. These hopes of a more satisfactory state
of affairs cannot, however, be trusted to the
same extent on this side, where the consign-
ments sent out are Laiown to have increased
week •by week uninterruptedly for more than
six months since the sailing of the latest vessels
that had yet reached the colony. The revenue of
Victoria for the quarter just ended again showed
an extraordinary augmentation, and the amount of
gold shipped from Port Philip alone from the Ist
of January to the 27th of June, valued at 41. per
oz., was 4,400,0001. The price of gold was 775. 6d.
per oz., and the rate of exchange on London was
2 premium, with an expectation that it might ad-
vance to 4 premium. In the latter case it would
be more profitable to send sovereigns than bills.
At the same time, large quantities of gold dust
were in course of transmission. Just before the
departure of the Marlborough, the Union Bank of
Australia had given notice of a robbery, which had
caused great excitement. It appears that a case of
note-forms belonging to the bank had been stolen
from a vessel in Hobson's-bay, and put into circu-
lation with false signatures. The forms comprised
12,000 of 11. each, 4,000 of 51., 1,000 of 501., and
an unspecified number of 10/. and 201. each. The
Cleopatra steamer was to leave Port Philip for
Liverpool on the 27th of July, and the Great
Britain some time during the same month. The
Marlborough has brought 60 passengers and a
heavy mail.
The subjoined letter by the Typhoon furnishes a
full and practical description of the general state
of business at Port Philip up to the 13th of June,
subsequently to which date the markets continued
to give way :
"The importations into this port from England and
America during the past few weeks have been unprece-
dentedly large, and have already begun to tell upon the
market. Most of the warehouses are crammed with
goods, provisions, &c., and the lack of storage is daily
forcing vast quantities of merchandise to hurried dis-
posal—generally by the hammer. By this means, how-
ever, the market is being gradually relieved of many
trumpery and unsuitable articles sent hither by
dabblers' or inexperienced beginners,' under the
c, 1
mis-
taken arid too prevalent notion that 'anythin will
do for the colonies'—a notion of which, it is ''to be
hoped, their present experience will rid them. None
but genuine and really useful articles are wanted
here. Meanwhile, the presence of the contrary has
an injurious influence upon the market. The very
large importation of American flour and breadstuffs,
and the accounts of large quantities yet to arrive, have
caused a very considerable decline in the prices of those
articles. Grain has been gradually falling for some time,
and a downward tendency is still manifest, though
oats are slightly recovering. In colonial flour the de-
cline is not so perceptible as in foreign, and with our
continually increasing population it is not probable that
in any article of general consumption any serious depres-
sion can long rule. Almost all the flour from England,
and very much of that from America, arrives soured ;
from what cause it is not easy to determine, but
very often it is attributable to bad packing and de-
ficiency of ventilation in the holds of the vessels. Several
large parcels have recently arrived in 501 b. tins, and all
in beautiful condition. American may be quoted at 181.
to 201. (tins), and colonial at 271. to 301. per ton. Pro-
visions are rather lower. Manufactured goods suitable
for the season find purchasers at fairly remunerative
rates, as also ale, porter, and spirits. Building mate-
rials continue in great demand ; but the profits of im-
porters are most materially lessened by the heavy ex-
penses to which their goods are subject. Besides the
high rates of freight and insurance, they have to sub-
mit to the charges of lighterage from the bay, at
the rate of 355. to 40s. per ton, and it is difficult
to obtain lighters even at these rates, and several ship
agents have recently publicly intimated that they
could not get then), and that consignees must engage
them themselves, and be prepared to pay the 101. per
day demurrage after the first ten days, of cartage in the
town at 7s. per one-horse load, and, those who have not
stores of their own, of storage at 2s. 6d. per ton per
week. In addition to all this, their goods, if not care-
fully looked after, are most unceremoniously precipitated
into a sea of mud, which is almost the chief constituent
part of the Queen's wharf.' New houses are springing
up every day, and the Americans are establishing them-
selves here in considerable numbers. Adams and Co.,
the great American carriers, have opened a branch here.
They carry' to every part of the world. Their opera-
tions in this quarter are likely to be very large. The
wool season is, strictly speaking, over' here, but a few
lots which have been delayed by the difficulty (still
existing) of obtaining carriage, keep dribbling in from
distant stations, where it is probable, parts of some few
clips' will be detained till after the winter. But, even
after all has been brought down and shipped, it is the
almost universal opinion that the export of last clip'
will show an actual decrease as compared with that of
the previous one, instead of what the English manu-
facturers require,—a positive increase. A very large
proportion, too, of the wool this year is sent home in
the grease. Prices are higher here than those which
ruled at the last February sales in London.
" There is little doing in tallow.
Gold is very firm at 775. per ounce, and is only to
be obtained in small quantities even at that price. The
various ' diggings' continue to yield largely, but appa-
rently not more than the colony requires for remittance
in return for imports of goods and specie.
" The banks are charging 2 per cent. premium for
bills on London. They purchase draught against hypo-
thecated gold or produce at par.
" Rents are very high. A moderate-sized store lets
readily at 2,0001. per annum, a respectable family house
at 7001., a four-roomed cottage at 1501, to 2001.
" The cry is still for emigrants, but only for such as