The Sun.
London, England, 1853-07-19 00:00:00

AUSTRALIA.

By the Woolloomooloo we have received advices from
Sydney to the 21st of April.
The position of the colony of New South Wales is
described by the papers as being most satisfactory. The
yield of gold was steady, and the average earnings of
each man are quoted at an ounce a day. With regard to
agriculture the prospects of the farmers wero excellent.
The steamer Cleopatra had arrived at Sydney with
advices from Melbourne of- the 16th of April, at which
time neither the Harbinger nor the Adelaide steamer
had arrived. 14,000 ounces of gold dust was brought
into Melbourne by escort on the 13th of April.
Gold had fallen rapidly in pride at Melbourne, and
was quoted by the Argus, on the 16th April, at 3/. 15s.
an ounce.

The markets both at Sydney and Melbourne wen
almost bare of goods, and enormous profits were bein
realised on some articles of import.
The Woolloomooloo has upwards of 50,000 ounces o:
gold on freight.
The following is from the Sydney Empire of Apri
20 :

The commercial ;condition of Sydney is, as it has
been for some considerable time past, characterised by
uncertainty, high prices, and exhausted stocks. The
circumstance of so few arrivals with supplies, either
from Great Britain or from foreign ports, is very re-
markable ; and this untoward circumstance—so contrary
to general expectation—has given to transactions an
excited character, which, in many instances, has the
appearance of unwarranted extravagance. Goods are
run up to prices which are scarcely justified by any state
of the import market at which we have yet arrived, the
competition being stimulated by the immediate urgency
of particular demands, rather than produced by anything
like permanent scarcity. But if busir E'l3 were conducted
in the most sober spirit, high prices for all manufactured
goods would ;still range, in consequence of the positive
insufficiency of present imports. This state of things is
experienced without any rapid augmentation of our po-
pulation as was anticipated—for during the last few
weeks, the passenger traffic inwards has barely kept
even with our outward drain.
Since the 1s;; of April 57 vessels have arrived from
various ports, inclusive of Moreton-bay, bringing 1,186
passengers ; and the departures have been 60, with 1,191
passengers. Of the arrivals, 3 vessels and 39 passengers
were from London ; 2 vessels and 45 passengers were
from Liverpool ; 1 vessel and 32 passengers were from
Bristol ; 1 vessel was from Scotland ; 4 vessels and 242
passengers were from California ; 1 vessel and 8 passen-
gers were from China ; 1 vessel, a man-of-war, was
from King George's Sound ; 2 vessels and 7 passen-
gers were from a whaling voyage ; 1 vessel was
from the South Sea Islands ; 1 vessel was from
New Zealand ; 3 vessels and 11 passsengers were
from Van Diemen's Land ; 3 vessels and 53 passengers
were from Moreton-bay ; 2 vessels were from Newcastle ;
and 32 vessels and 724 passengers were from Victoria.
The departures were-3 vessels and 10 -enger3 to
London ; 1 vessel and 57 passengers to California ; 2
vessels to Singapore ; 2 vessels to India ; 2 vessels and
3 passengers to South Sea Islands ; 1 vessel and 16 pas-
sengers to Van Diemen's Land ; 1 vessel and 10 passen-
gers to South Australia ; 4 vessels and 7 passengers to
Guam ; 8 vessels and 52 passengers to New Zealand ; 9
vessels and 87 passengers to Moreton-bay, Newcastle,
and Twofold-bay ; and 27 vessels and 940 passengers to
Victoria. In the last item the steamer Chusan is in-
cluded, .ilough many of her passengers would proceed
ou from Melbourne (the first port of call) to Adelaide
and to Singapore. By these figures—which, however,
must be regarded only as approximations—it appears
that for the last twenty days the excess of depart-
ing passengers over arrivals has been 5, of which the
number of departures for Victoria has exceeded the ar-
rivals from that colony by 216. Besides this flowing
and counter-flowing of population, by water, between
the two gold colonies, there is a constant intermigration
overland, which to a large extent confounds any calcu-
lations as to the fluctuations of the social stream in either
colony. In the present estimate some reduction has to
be made in the case of the Chusan for the passengers
proceeding to other ports, and it may also be mentioned
that the steam-ship Cleopatra is hourly expected from
Melbourne, with probably 200 pasengers, which will
about balance the account.
In Sydney a strong disposition prevails to speculate
in the formation of companies for working the mineral
lands of the colony ; but these projects are at present
almost wholly confined to men of substantial means and
established character ; and with the facts before the pub-
lic which have already been disclosed as to the undoubted
richness of many districts in capper, lead, and iron, as
well as the precious metals, and with the shares of
only copper mining company at 100 per cent. premium,
it is not surprising that the attention of cloie thinking
and observant men should be directed to more important
developments of these yet concealed sources of our
natural wealth. Among the remarkable changes which
the present year will bring about none will be greater or
more valuable to society than the extended results of in-
dustrial enterprise.
By. the escorts from the Ovens and the Northern
Diggings to-day about 8,000 ounces of gold were re-
ceived in Sydney. It is expected that the Woolloomoo-
loo, sailing for London to-morrow morning, will take
away nearly 50,000 ounces. The price now rules at 775.
3d. to 6d. for Victoria, and 745. 3d. to 6d. for New South
Wales.

Our latest ;date from England is December 24,
brought by the'steamer Chusan, which arrived on the
19th of March, Just a month ago. The sailing ships to
leave London and Liverpool in all December and Janu-
aryn have all to arrive. By an American schooner on
the 10th inst., we received intelligence from San Fran-
cisco to February 16 ; Valparaiso, January 30 ; New
York, January 6.
The following brief report will pr.esenatrtthelelatest prices
articles which can be safely quoted for leading
may
be quoted re-
spectively skins and Congous
at 102 s 6d to 110s,an
Sugar—Pampanga, 20/ to
6d to 17s per gallon, in
and 92s
Spirits—Martell's brandy, 16s 6d to 100 s.
301
bond ; B.P. Rum, 10 0.1
Bottled Ale—A sale of 500
3s 10d.
00hdowozoevner(,Bbaosso'os)nswidaesremdaadne
to-day at 18s 3d, which may,

extreme rate.
Wines—Stocks very low, and in go)d demand.
Oilman's Stores—In demand, at 50 per cent. on E9g-
lish cost.
Cheese—A parcel of good Dutch sold to-thy at is
per lb • English 25 per cent. higher.
Earthenware—A large sale this morning realised on
good assortments 120 per cent.
Canvass—White and brown navy, is to is 3d all Nos.,
and rising.
Boots and Shoes-111r. Newton sold this morning an
American invoice, very superior, averaging about 50 per
cent. ; common English assortments, 150 per cent. on
invoice.

Drapery, of all descriptions, commands high prices.
Salt—Liverpool. 51. 15s to 6/. per ton.
Flour--Fiore, 271. • seconds, 20/.
_ ;

UNION BANK OF AUSTRALIA.

Yesterday the annual general meeting of the share'
holders of this bank was held at the offices, Old Broad-
street—Mr. J. J. Cummins in the chair.
The SECRETARY read a report, which contained the
following passages :
" The letters received from the branches come down te
th• beginning of April, and are without exception of the
most satisfactory character.
" The agricultural districts of New South Wales and
Victoria, as well as the colonies of South Australia, Vet'
Diemen's Land, and New Zealand, in which no impertwl,
,
discoveries of gold have yet been made, have all largely
participated in the advantages arising out of the newly'
obtained wealth of the other districts, and the increase"
demand for all the produce of labour at very remunerative
prices cannot fail to result in their permanent prosperity
and advancement. That under such circumstances there
should have been a great expansion of banking transact"
lions, was fairly to be expected, and the directors are
happy to say that this bank has enjoyed its full proportieu
of the increase.
" The inspector, acting upon the discretion vested in
him, and under a conviction of its increased importances
has opened a branch at Goulbourn, in New South Wales,
120 miles south of Sydney, to which Mr. George Fergusson
has been appointed manager. This gentleman has been
for many years in the bank's servicerand has fully entitled
himself to the confidence of the directors.
" The accounts present an amount of profit for the sit
months now reported on of 165,2331. 9s. 11d. This profit
admits of 164,0001. being appropriated for the purpose °f
Las I dividend, which the directors have determined to apply
' interest on the paid-up capital. This amount will fannef
a dividend by way of interest at the rate of 20 per cent'
(for the half-year) on the amount paid up in respect of
each share in the capital of the company, payable in Lon;
don, free of income tax, on Tuesday, the 2d of August, and
in the colonies, with the addition of 7d. in the pound,
soon as the inspector shall fix after the receipt of advicee•
The CHAIRMAN observed that after the report whic‘i
had been read be need only call their attention to one
or two circumstances of a supplemental character, which
would not be unpleasing to them. Early in October
'ast the directors, considering the operations arising
from so large an amount of coin being shipped from this
country, anticipated the probability of a very consider-
able change in the rate of exchanges abroad, and had
therefore determined to ship only so much as was aloe'
lutely necessary to meet the requirements of the tire°.
The state of things in the colony had naturally led to
very large expenses, and there was a claim of nearli,
14,0001. to be provided for as the cost of freight and
ir insurance upon all the gold shipped out after the
date of the last advices from the branch s. Towarcls,
that, however, the directors bad made a reserve 01
13,0001., and had since cleared off all claims upon that
account. But there was another point of still greater
importance, viz., the discount allowed on their bills 10
the colonies between the Ist Jan. and the 18th Feb.,
when the exchange got up to par. The amount of di°:
count paid during that period was so large as to amour'
to 20,0001. This arose from profits accruing before the
alteration in the rate of exchange, and the direatora
therefore thought it their duty, in order that in future
each year should properly bear its own charges, to
write off this amount ; so that they would see that"
by the reserve made for freight and insurance, and by
the discounts which had fairly accrued before the alter'
ation in the rate of exchange written off, futtire pr(r
fits would be relieved to the extent of nearly 33,000/-
(Hear, hear.) They had received accounts up to the 34
April from the various branches, and he might faia
say that from the character and enlargement of the
business, and, in fact, the general character of the er
changes, those accounts fairly represented the balanes
of trade between the mother country and the colonfi
and had given to the directors a degree of satisfaction
which they could scarcely have anticipated. 111,8
remittances which had been sent home from parties 1n
the colony to their families in this country bad attracted
his attention, and he found that since the Ist of January
there had been over 1,200 bills remitted for sums n°'
exceeding 251., and the number still continued to
crease. In the month of July the total number of OP
drawn on this bank for sums not exceeding 25/1
amounted to 4981., and the money to 7,007/. Some °f
the bills boi • very singular endorsements, one of the°
being in these terms : " Pay this to my old mother, ~.
I intend coming home in another ship ;" and there coil
be no doubt that the money remitted
mothers,had been receive,'
:,
by th the sisters, the wives, or the swee;
hearts of people in the colonies. (Hear, and laughter.;
After a very brief discussion the report, upon th
motion of Mr. Thos. Smith, seconded by Capt. Lawson'
was unanimously adopted ; and a dividend declared of
20 per cent, for the half year.
Mr. Benjamin E. Lindo and Mr. Jas. Bogle Slei al
were then re-elected directors, and the business tern,'
nated with a vote of thanks to the chairman.