The Sun.
London, England, 1854-01-26 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 500 American,
and 1,000 Surat were taken on speculation. The
market closed heavily at previous rates. The sales
comprised 4,000 American, 300 Egyptian at 6d. to
11d., 1,500 Surat at 3d. to 4id., and 70 Sea Island
at ls. sd. to 2s per lb. Railway shares were firmer.
A meeting of an important character is now being
held, viz., for a semi-monthly postal steam com-
munication with Australia. The subject is of great
importance, and meets with general approval and
strenuous support. A large number of persons
recently from the colony are in attendance. The
precise objects will be understood by the following
circular :

" I am requested by the committee of this association
to forward you herewith a copy of a letter addressed by
them to his Grace the Duke of Newcastle, on the subject
of postal communication with Australia. Should you
coincide with the views expressed in the above letter,
may I solicit the favour of your co-operating with the
committee in their endeavours to induce her Majesty's
Government to abrogate the present anomalous postal
arrangements, and substitute others more in unison with
the growing requirements of our great colonies of the
South and the mother country. For this purpose, it
appears to the committee that the establishment of a
semi-monthly communication at a speed equal to that
maintained on other great postal lines is essentially
required."
The letters by the ship Hurricane, which brings
54,000 ounces of gold, are of so late a date as Oct.
The following is a statement concerning the mar-
kets at Melbourne
During the present week business generally in
Melbourne has been pretty brisk, especially in connec-
tion with the diggings, though some of the retailers still
complain of dullness, as compared with last year. Many
storekeepers have visited town, but have given orders
only for temporary supplies. This course they adopt in
consequence of their confident expectation that the
charge for carriage will shortly fall. When this takes
place, stores will be ordered in bulk. Provisions, bottled
fruits, preserves, and oilmen's stores, of which latter the
supply is not great, are all now in demand, and higher
prices are given.
"There has been a considerable trade in beer during
the week, but the stocks are very large, and the scarcity
and high price of store-room cause it to be forced on the
market. It is likely, however, to keep firm. A num-
ber of merchants are holding firmly till the duty is
decided ; but it is offered very freely by others, and it is
more likely to fall than to rise. Rum is firm, and case
gin is in demand. Whisky is not inquired for. There
is no change in the price of flour, but it is held firmly,
and a rise is expected. In sugar there is also an upward
tendency."
The Gold report is encouraging. Mr. Edward
Khull, bullion broker, states—

"Gold has steadily continued at 765. since the lower-
ing of the exchange, and a good amount of business has
been done during the week, principally for shipment
by the Hurricane. The fall in price here has had a
like effect on the Sydney market. The latest intelli-
gence quotes the sellingjprice at 765. 6d. We would
notice that the apparent difference in the quoted price
of:gold here and in Sydney may arise from the fact,
that in the latter place the gold is generally sold by
auction to shippers, while here the business is trans-
acted by brokers, who buy from the diggers direct ;
and it is the price paid to them that is always quoted,
instead of the selling price to the shipper. This expla-
nation is rendered necessary, from inquiries having
been made by the home correspondents of some of our
commercial friends as to the discrepancy between the
price charged to them and that quoted in the journals
of the day.
"The quantity of gold from Mount Alexander and
Bendigo is again on the increase ; while that from all
the other fields is decreasing. A rush has taken place
at the Goulburn, to a new gully, which is reported
as turning out well. Some extravagant reports have
been circulated regarding the success of some diggers at
Ballarat, which, but for the inundation of the hole,
would have been rich beyond belief. It is stated that
steam-power is to be had recourse to for pumping out
the water, which perhaps will be more economical than
waiting its subsidence, seeing that such tempting prizes
are to be obtained as forty pounds weight to the bucket-
ful. When the steam-engine is in operation, and such
results realised, then will be the time for others to
follow the example.
Number of persons who have arrived in the
colony during the week
Number who have left 289

Addition to our population 7lB

The Escorts brought from Mount Alexander
and Bendigo
Ballarat, including Geelong
M'lvor and Goulburn

35,563

Gold shipped from Victoria in 1852 1,942,491

Per Rockland to Callao

1,500

Per Ambrosine, from Geelong to London 49,291

1,993,282

Or 83 tons, 1 cwt. 6 lbs. 10 oz. at 75s £7,284,340

"Exchange on London : drafts against gold taken at
1 per cent. discount. The Banks advance from 50s. to
60s. per ounce. Freight of gold delivered at the Bullion
Office, London, 4&d. per ounce. Insurance, 2,1 guineas
per cent.
The estimates were occupying much attention,
and there ara just complaints of the largeness of
the expenditure compared to the efficiency of the
Government. The editor of the Argus very fairly
remarks, " we do not object to the expenditure,
only we say, let us have something like value for
the money.
At Fryer's Creek, Mount Alexander, the miners
were petitioning against the lease of land there,
worked by 500 persons, to the Port Philip and
Colonial Gold Company, while in summer as many
as 1,500 persons reside there for the benefit of the
water. It is to be feared the miners would offer
forcible opposition to the Company, and it is
evident the authorities will have to be on the
alert. _

From Adelaide the accounts of October 20 no-
tice return of the. Murray expedition, which had
been remarkably successful. On the sth October
there was a heavy fall of snow at Adelaide, al-
though in that month, usually, the hot weather
sets in.
The English. Securities have been better in the
absence of fresh important news. The New 31 per
Cents. have been 911 to 91L and the Three per
Cents. 901 to Bank Stock has been quiet at
215,
and South Sea Stock at 115. Exchequer Bills
are Bs. to 11s. premium.
In the Foreign Market the transactions have
been for a limited character, and there is no par-
ticular alteration in prices. Russian 5 per Cents.
have been firm at 1032, but the 4i per Cents. after
being done at 88k, have given way to 87k.
Dutch 21 per Cents. are marked 60/. Sardinian
Bonds have been at 86 Buenos Ayres at 57, and
Brazilian New 5 per Cents. at 961. Spanish 3
per Cents. have given way from 40, at which they
opened, to 381 the present value.
Railway Shares have been much quieter, and
there has been no uniform movement in the quo-
tations. Eastern Counties have been rather better,
catedonian are steady, Great Western, Midland,
and Nome others still rather heavy. In French
Shares there is still a want of buoyancy.
The last week's railway receipts ascertained up
to this day are in round figures as under :

1854. 1853.
Great Western
North-Western 47,201 44,033
South-Western
Brighton 8,618 8,602
South-Eastern
Caledonian, andldin. and Glasgow 13,110 11,983
Great Northern
Lancashire and Yorkshire 17,431 16,537

The current prices for the Jamaica Mines not
officially quoted as follows :—Jamaica, par to
prem. ; Metcalfe, 4 to A prem. ; Sue River, / dis-
count to par ; Port Royal, k to a prem.
The Gold Mine shares are firm generally ; the
Australian Banks have improved a little ; and the
Land Companies' are still rather depressed.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(Prom the Official List.)
Business done.
Bank Stock ........... .......... 215
1 per Cent. Reduced Anni“tics 9ok 1 k 1 90k
3 per Cent. Consols Annuities 9q I 3 i 3 i k 3
New 31 per Cent. Annuities 9li kiz i 4 21 11
Long Annuities, Expire sth Jan., 1860 ... 5 3-16
Ditto 30 Years, Expire sth Jan., 1860 4 15-16
south Sea Stock
Consols for Account 15th Feb. 9l 4 3 3 3 R
Exchequer Bills, ld.
£lOOO ... 9 P
£5OO 8 11 P
Small 8 11 p
PRICE OF FOREIGN FUNDS THIS DAY.
New Brazilianßonds, 1829 & 39, 5 per Cent 96A
Buenos Ayres Bonds, 6 per Cent 57
Danish Bonds, 1825, 3 per Cent
Ditto 5 per Cent 99
Grenada Bonds, Deferred
Mexican 3 per Cent.
Peruvian Bonds, 41 per Cent. 66
Russian Bonds, 1822, 5 per Cent. £St lO5l
Ditto 41 per Cent BBil 71 90
Sardinian Bonds, 5 per Cent B6l 74
Spanish Bonds, 3 per Cent 4O 381 91
Spanish New Deferred, 3 per Cent l9l
Dividends on the above payable in London.
Dutch Exchange, 21 per Cent. 12 Guil
Ditto 4 per Cent. Certificates......_.
THREE O'CLOCK.
Consols 9oi
Ditto February Account ~,, ..... ~, „, 90i