The Sun.
London, England, 1853-03-18 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, TWO O'CLOCK.
--The sales of cotton at Liverpool yesterday were
estimated at 10,000 bales, of which 1,000 American
were taken for export, and 2,000 on speculation.
The sales comprised 9,000 American, 250 Pernam
and Maranham at 6fd. to 6id., 250 Egyptian at
bid. to Bd., 400 Surat at 3d. to 4/d, and 80 Sea
Island, is. Bd. to Is. 104 d. per lb. The market
closed steadily, and, compared with Friday's rates,
prices of American under 6d. were generally *d.
per lb. dearer, and Surat id. per lb. higher. Rail-
way Shares were dull.
In the Colonial markets there has, this week, not
been much activity. Sugar has been at full rates,
and coffee scarcely so high. In spices there has
been a moderate business. Not much has been
done in rice ; saltpetre has maintained full prices ;
cochineal has advanced ; cotton has had rather a
better sale ; and tea has been in fair demand ;
tallow has been dull.

The letters and papers by the Sydney steamer
have been delivered this morning, and the mails
are so large that it is considered probable they will
occupy best part of the day in delivery. The dates
have all been anticipated by way of India, but few
letters having been transmitted through that me-
dium, there is much general information scattered
through our present advices. There is remarkable
unanimity in one respect—viz., the necessity of
extreme caution among shippers of goods in Eng-
land, the evidences of glut being stronger than
ever. Melbourne seems to be more inundated
than Sydney.
The inhabitants of Moreton Bay, a district north
of Sydney, have so largely developed its resources
(chiefly grazing), that they already entertain the
desire of separation ; and if Asiatic labour be ob-
tainable to any extent, the growth of cotton may
become extremely profitable, as well as that of the
sugar-cane.
The cost of cultivation per acre, and production,
is thus estimated by a local writer on the subject:—
Produce of an English acre after the separation of the
cotton seed by the gin,
8001bs. at 9d £3o 0 0

Expenses.
Preparing the land £2 0 0
For seed, planting, and attending
to weeding the crop . 2.10 0
Rent of land 2 0 0

Gathering the crop, forty women
and children, at 2s. Der day 4 0 0
Carriage to gin 1 10 0
Bagging for bales, &c 3 0 0

Profit f acre

£l5 0 0

Another party writes :

Xl5 0 0

"We have some cotton which we are about to send
to Lancashire for inspection, produced at Moreton Bay,
equal, if not superior, in quality to that sent by Messrs.
Gardiners, of Manchester, grown as Sea Island cotton.
This firm has engaged to purchase to the amount of
1,0001. worth of cotton produced in Moreton Bay, at a
price valued by brokers at home."
One of the Gold Commissioners had reported to
the Legislative Council at Sydney in favour of
granting " digging" licenses at ss. per annum--
compelling the miners, however, to sell all their
gold at 655. per oz. to the Government agents,
companies being allowed to smelt and refine. There
is very little probability, we conceive, of 'such a
regulation being assented to by the Legislature, or,
if so, that the miners would submit, and it is only
extraordinary that such an insane desire of inter
ference should exist in all Governments. How long,
one might fairly ask, would it be ere Australia was
supplied with coin, if Government had the task ?
and yet private, enterprise has already nearly met
the whole requirements of the colonies. The gold
diggers may be taxed moderately for revenue and
police, but will never submit to an onerous impost
or an undue interference.

The steamer Great Britain, according to the
Manifest received, has only 24,160 ounces on board.
The ship Barend Willem, from London to Mel-
bourne, is telegraphed as having arrived off Fal-
mouth in four days, from the Downs, and being
leaky. This vessel, we believe, had emigrants on
board.

The English Funds have been dull, but without
any further decline. Consols have realised 99/
for Transfer, and 99i to par for Account. There
has been a bargain in the New Five per Cents. at
126, and in the Three per Cents. of 1726 at 99.
Bank Stock for Account has been marked 2291.
Exchequer Bills of June are 13s. premium. The
Turkish news and the American President's Mes-
sage are partly causing the present dullness. •
Foreign Stocks have been neglected, and 'prices
have varied but little. The Spanish Committee's
Certificate is at 7. The 3 per Cent. Bonds are
worth 491 to 1, and the New Deferred 241 to 25i.
The market, consequently, is rather flatter. Greek
Bonds have been in demand at 81 to 9. Mexican
Stock is worth 26 to 1. Dutch 2 per Cent 4. have
realised. 66/, and Russian 5 per Cents. 120 to 4.
Sardinian Stock is worth 971._

The cause of the Upper India Railway seems to
be very popular in the localities which it is intend-
ed to benefit—a strong testimony of its merits.
The journals of the Presidency take up the matter
most warmly, and deplore even the smallest delay
on the part of the Government. No line, they
contend, would pay so certainly, so speedily, and
so richly. The possibility of making this railway
much cheaper than either the English lines or the
East India Railway is contended for, as it is said
to be unnecessary to have such expensive masonry
and general works.
Im Railway Shares scarcely any business is doing,
and prices are nominally much the same. French
Shares are fluctuating, but still in fair demand ;
and the Zealand have advanced.
The Gold Mine Shares have been drooping--
Australasian are decidedly lower. ti
The Cocaes Mine is rather higher.

The Ceylon Land and Mining Shares were or to
pm. to-day
The Land Companies' Shares are a little firmer.
The Joint Stock Bank Shares are very quiet,
but steady.
BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
Bank Stock

3 per Cent. Reduced Annuities... ......... 'shut 100 z .
3 per Cent. Consols Annuities
3 per Cent. Consols Annuities, 1726
New 3i per Cent. Annuities.:........ shut
New 5 per Cent.. Annuities
I adia7l3onds, £lOOO - 45

Ditto, under £lOOO
South Sea, Old Annuities

45
shut

229

ELECTION COMMITTEES-(THIS DAY.)

NEW WINDSOR.

At the meeting of this committee to-day, the exami-
nation of witnesses on behalf of Lord Charles Wellesley,
the sitting member, was continued.

Mr. Vonles deposed that, so far from having had any
connection with the system of open houses at the late
election, he had cautioned the publicans not to treat
any of the voters. Had seen the book containing the
account which Darling said he had against Lord
Charles Wellesley. Had made a copy of that
book. There never was a committee in Lord Charles
Wellesley's interest held at the Ship Hotel. Had particu-
larly ordered Mr. Darling not to give any refreshment
to any one at Lord Charles Wellesley's expense. Had
never taken any one into the Ship to have refreshment.
Distinctly denied having ordered any supper at the Ship
Hotel.
(This witness was under examination when our report
left.)