The Sun.
London, England, 1853-05-27 00:00:00

MONEY MARKET AND COMMERCIAL
INTELLIGENCE-(THIS DAY.)

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 7,000 bales, including 500 Pernam and
Maruham taken for export, and 500 American
on speculation. The market was quiet, but
steady. The sales comprised 5,000 American ; 1,000
Pernam and Maranham, at 6id. to 7d. ; 100 Bahia,
at 60. ; 300 Egyptian, at 6/d. to Bd. ; and 500
Surat, at 3id. to 44d. Railway Shares were flat.
In the Produce Markets this week there has
been a moderate business done. Sugar has been
rather lower ; coffee has maintained full prices ;
cocoa has been cheaper ; rice at previous rates ;
cotton firm, and also tallow. In tea there have
been numerous speculative purchases.
The letters and papers to the 33d February from
Port Philip, brought by the Atrevida, furnish a
few interesting items of news. A Geelong letter

states :--
" The price of gold during the week has continued to
advance, and is likely to attain a higher figure still.
This change may be principally ascribed to the sudden
alteration in the exchange in favour of gold to theextent
of 5 per cent. The great event of last week. the finding
of the monster nugget in Canadian-gully, Ballarat, has
been eclipsed by a more brilliant discovery revealed to the
public on Monday last, viz., the finding of two enor-
mous masses of gold in quartz, weighing upwards of 176
pounds troy. These magnificent specimens of our mineral
wealth weighed as follows :—Larger mass, 93 lb. 2 oz.
5 dwts. ; smaller ditto, 83 lbs. 9 oz. 5 dwts ; total,
176 lbs. 11 oz. 10 dwts. They were found in Canadian-
gully, also within 30 yards of the spot where the first
large lump came from, at the depth of about 50 feet ;
and as other smaller nuggets were found in the same
holes, the Ballarat diggings have completely thrown
in the shade all the gold fields of modern days.
The two nuggets last found contain rather more
quartz than the first one, although in them
the proportion of metal is supposed to exceed seven-
eighths. The result of these discoveries has been
to attract diggers to Geelong and Ballarat from all
points of the compass. The intelligence from the other
fields in the locality of Ballarat is very cheering ; and
when thousands set to work, where there are at present
only tens,' the result of their labours cannot be even
guessed at. The Government appear at length inclined
to do a little to afford protection to the thousands of
travellers and diggers now engaged on our gold fields.
They have established a new police-station at Captain
Sutherland's station, on the Moorabool, under the charge
of Sergeant Lennox ; the force consisting of a corporal
and six troopers, besides a sergeant. We are also to
hare seven additional mounted troopers, and four extra
sergeants of police in Geelong. There is also a new
police force of mounted detectives, established for scour-
ing the different roads, &c. The late chief constable of
Bunningong being appointed inspector for that part of
the force to be engaged between Geelong and Bunnin- 1
gong."
Freights, Jsc., at Melbourne, are thus given :
Tallow, 40s. to- 50s. per ton, and 5 per cent. ; gold,
41d. per oz., delivered at the bullion office, ditto per
steamer, 61d. ; wool, greasy, Id. per lb. ; ditto, washed,
id. per lb. ; hides, 20s. to 255. per ton ; tallow, 11. 10s.
per ton, and 5 per cent. ; oil, 3/. per tun, and 5 per
cent.—Lighterage.-255. per ton from Hobson's Bay to
the Wharves, Melbourne ; ditto, 50s. per ton on bonded
goods, from ditto to ditto ; and 50 per cent. on above
charges, on ships moored below the lighthouse.—Cart-
age--- ss. to 9s. per load in town, and 20s. to Coiling-
wood.
The expectation we entertained when we yester-
day commented upon the proceedings at the South
Sea House, that the proprietors would elect to re-
ceive the money for the 405,0001. of Annuities •
which the company holds, proved correct, the vote
to that effect having been tolerably unanimous.
Many persons may draw erroneous conclusions
from this course, and it will be useful,
therefore, to enter upon some explanation of
the motives that have probably induced it. In
the first place, the directors of the South Sea Com-
pany have brought forward a proposal to form a
" Trust Company," much wanted in this country,
where private trusteeships are both unsatisfactory
and hazardous. The law has, undoubtedly, eased
the responsibility of trustees, by enabling them to
place their affairs under the control of a Chancery
Court, but this is an expensive and an indirect
procedure, which a wealthy association could ob-
viate. Besides this, a perpetual charter, such as
the South Sea Company enjoys, is most advan-
tageous, as offering an undying trusteeship. The
Company, over and above its capital stock of about
3,600,0001., possesses 610,0001. of surplus assets,
405,0001. of which are invested in the South Sea
Annuities, and the rest in other stocks. As
a decision to accept new stock or money
for these annuities must be come to before the
3d of next month, the proprietors have elected
to receive back their money. The reasons appear
simple enough. The money will be more easily
divisible, and as many will not join the new Trust
Company, and even disapprove it, they consider it
most advisable to have the assets in a tangible
form. As to the premises, they will hereafter be
subject to an equitable valuation, and the new
company, if formed, must pay out such of the
existing proprietors as desire to secede. It
is probable that for the same reasons the pro-
prietors will authorise the directors to claim the
money for their 3,600,000/. of stock ; but this is a
question that will be decided next month, and pro-
bably at a special meeting. These are lgiefly the
motives that have influenced the South Sea Com-
pany's proprietors, who, otherwise, from the tone
of yesterdays meeting, would evidently have taken
the New 24 per Cent. Stock.
The next point to consider is whether the Chan-
cellor of the Exchequer will be embarrassed by this
resolution. We should say, not in the least. He
has ample means at command, or plenty of facilities
for obtaining them, and the money cannot be
claimed for several months. When paid, the reci-
pients must invest it in some way, and the very
fact of their appearing as buyers will send up the
prices of whatever securities they select, and thus
indirectly assist the Government.
The English Stocks opened at about yesterday's
quotations, but have gone worse since, although
the most authentic advices from Constantinople dis-
prove the assertion that the Russian envoy has left.
Telegraphic accounts, with late dates from Singa-
pore, place the Chinese question in a more favour-
able light, the British representative not being
likely to interfere except to protect our country-
men. The outer wall of Nankin is said to have
been breached by the insurgents, but those who
look for the dissolution of obsolete prejudices rather
wish success to the revolutionists. Consols have
been quoted 1001 , and since 10011, for money
and time. Bank Stock is firm at 229 to 230.
South Sea Stock is at 115 to 116. Exchequer Bills
are par to ls. premium, and India Bonds are 30s.
prem.
Foreign Stocks are rather heavy again. !The
New Spanish Deferred Bonds realise 231. Mexican
Stock has been dull at 261 I. Dutch 21 per
Cents. are not higher than 65k. Russian 5 per
Cents. .are firmer at 120.
, The Gold Mine Shares are in limited request at
about previous rates.
The Land Companies' Shares are on the decline
again. Australian Joint-Stock Banks are dull.
The Railway Shares are rather worse, but the
alteration is not material. French Shares are firm.

BRITISH FUNDS THIS DAY.
(.From the Official Lidt.)

Business done.
Bank Stock 229 30
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 5 per Cent. Annuities 126
New 3i per Cent. Annuities
Long Annuities, Expire sth Jan., 1860 5 15-16
India Stock 264
India Bonds, under 10001.
South Sea Stock ll6 15

... 99'
... 100 i i
... 100$
... 100 i i g B

South Sea Old Annuities
South Sea New Annuities
3 per Cent. Annities, 1751
Consols for Account, lst June
Exchequer Bills lid.
£lOOO
£500
1 p par
Small
Ditto Advertised 1 p par
3 d par
PRICE OF FOREIGN FUNDS THIS DAY.
Austrian Bonds, 5 per Cent. .........
Danish Bonds, 1825, 3 per Cent B4
Mexican 3 per Cent.
Russian Bonds, 5 per Cent l2O
Ditto 46 per Cent..... 1046
Sardinian Bonds, 5 per Cent
Spanish Bonds, 3 per Cent 4Bi
Ditto for the Account 49
Ditto New Deferred, 3 per Cent. 23s i 3
Ditto Passive (Converted)
Swedish Loan
98
Dutchßelgia Belgian 4x!
Exchange,
eC,en2tl.
per
Cent. ...... 651
Dutch Exchange 4 per Cent. Certificates 97

THREE O'CLOCK,
1001. E
1001 it

Consols
Ditto June Account

ANCIENT STONE COFFIN. —On Tuesday evening last,
while workmen were excavating some ground in Hay.
don-square Minories, they came upon a stone coffin at
a considerable depth below the surface. It was five feet
in length by two feet one inch in width, and 20 inches
deep. The outer coffin of stone inclosed an inner one of
lead, which contained dust and the upper part of the
skeleton of a human being, supposed to be that of a
female, and about four feet nine inches in length. The
body is conjectured to have lain there for several centu-
ries past, especially as on the ground where the dis-
covery was made the monastery of St. Clair formerly
stood, but has been removed upwards of 400 years. it
is said that on the very spot, that portion of the moans-
' tery denominated "The priory for minor nuns" stood,
and from which the Minories derived its name.