The Sun.
London, England, 1853-05-06 00:00:00

MONEY MARKET AND COMMERCIAL
INTELLIGENCE-(THIS DAY.)

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,500 American
were taken for export and on speculation. The
market closed very firmly with prices of American
nearly id. per lb. above the rates of Friday last.
The sales comprised 5,000 American, 130 Per-
nam and Maranham at fiid. to 6d., 300 Egyp-
tian at 6/d. to 7id., and 500 Surat at 3id. to
4id, per lb. Railway Shares were dull and prices
were a shade lower.

During the present week there has been some
dullness in the markets, owing to the determina-
tion to assist the passing of the budget. Sugars,
however, have been well supported. Coffee has
been very dull. Tea has an upward tendency.
Tallow has become depressed. Cotton is firmer.
There are no late colonial or foreign arrivals to-
day.
There is at length an entire removal of doubt, if
any were previously entertained, as to the inten-
tions of the Home Government with respect to the
new banks formed for the purpose of extending
monetary facilities to Australia. Efforts have been
made to induce the Colonial Secretary to give a
home charter limiting the liability, but these
have proved unsuccessful— an official reply
having been this day received, it is reported,
which extinguishes all hope. The sharehold-
ers now, we imagine, will have no course open
but to call upon their directors either to break up,
or give them the option of considering whether
they will wait a reply from the colonies. In our
own opinion the former would be the wiser course
for various reasons. Firstly, the expense incurred
up to the present time is but trifling ; secondly,
the colonists show great jealousy of now English
Banks, and would exact onerous terms before giv-
ing a charter, even if they consented so to do ;
thirdly, the mere attempt would involve a large
outlay for agents' salaries and legal assistance in.
Australia ; and, fourthly, two new banks are al-
ready chartered, and the Oriental having sub-
scribed a capital to the amount of 100,0001.
to open a branch at Melbourne, there is ample
banking accommodation for the colonies, and no
room for new associations of the kind for several
years to come, for it must be borne in mind that
the local banks are increasing their capital.
At the Assam Company's meeting, just held, a
most favourable report has been presented to the
shareholders. The directors state :
"You will not have failed to have noticed the large
increase which had been made in the area of our cultiva-
tion by the addition of 242 poorahs of land cleared and
formed into seedling gardens, all the land so cleared and
cultivated being extensions of our best and most pro-
mising plantations. This extension of our cultivation
we hope to be able to carry on year by year ; but the
extent to which we May be enabled to accomplish it will
depend on our success in meeting our great difficulty—
the paucity of Labour. We are sensible that, as our
plantations and produce increase, this difficulty will be
more felt, and will require additional care. It is now
engaging the serious attention of the local board,
who, with a view to meet it, have lately appointed an
assistant, who has resided in, and is well acquainted
with, the district whence labourers may be obtained, to
be specially employed in this department of the service.
They had also sent Mr. Henry Moram to Assam, whose
former missions to the province had been of great ser-
vice, in order that, in conjunction with Mr. Williamson,
he might organise arrangements for obtaining a steady
supply of labour.
"In the meantime, we have great satisfaction in
reporting to you that our information of the state of
our plantations is most satisfactory, and that the
which
quality
it o u
tif a
so
established
p
nsustains the
trade.
Thhiegh
crop
o f charactertea,
manufactured in the past season, amounted to 271,427
lbs., showing an increase of about 18,000 lbs. over that
of the previous year, and its sale has realised a nett total
of 22,1521. sterling, showing an average price of ls. Bid.
t
o
must be satisfactory in showing the progress of our under-
taking rl
ol wb nnget detailsa n
wi i yl
bur e cod ni rseicdteorresd aarsei
nc
toenrfieds
teinntg, t
ahsa ttht
ehye
since the year 1847. The produce of 1847 real-
ised 9,7281. nett ' • that of 1848 12,5521.; that of 1849
16,6281.; that of 1850 18,1531.; and that of 1851, as
above stated, 22,151/. The nett average price per
pound in those years was, for 1847, is. 4d. ; 1848, ls.
5 1-16 d. ; 1848, ls. 6 13-16 d. ; 1850, ls. 6 2-16 d. ; and
1851, is. 81d. All the produce of the past year, which
has come to hand, leads us to expect equally satisfactory
results in the realisation of the crop of 1852, of which
a portion has already been sold, and a large quantity is
now in warehouse about to be brought to sale.
"In our last report we expressed our hope, that,
allowing for extensive additions to our cultivation,
and for works necessary for the permanent security
of our establishments, the amount of dividend then
declared might be capable of gradual increase. We
have now the satisfaction of being able to declare a
dividend of three per cent, upon the] paid-up capital
out of the profits of the past year, and we see no
reason why we should not repeat the expressions
contained in our last report, and state that we hope and
believe that the dividend will still be capable of gradual
increase, and we feel confident that you Rill consider on
this occasion a safe dividend, with every reason to ex-
pect its gradual increase year by year, more satisfactory
than a larger dividend wow, with the risk of its diminu-
tion, or even without the probability of its increase
hereafter."

Public Securities have been rather heavy again,
money being still in demand. Bills are coming up
from the country rather freely for discount. Con-
sols have been 100 ft to for Transfer, and 1001
for Account. Bank Stock is firm at 228, and India
Stock at 262. Exchequer Bills are at par to 2s.
prem. South Sea Stock is at 1151-.
The Foreign Securities have been without any
particular feature. Brazilian Old Bonds are at
100/ to Mexican have been nominally at pre-
vious rates, but are, perhaps, rather weaker.
Spanish Certificates are as low as 51. Dutch Two-
and-a-Half per Cents. have been rather largely
dealt in at 65-6 to 661.
Railway Shares have been rather weaker, say to
the extent of Ito 1. French Shares are steady.
The Gold Mine Shares are drooping, and about
I lower.

The Metcalfe Mine Shares, upon bad news from
the Pembroke Mine, are down to 11 to 12 prem.
Sue River are 1 to 1/ prem. Port Royal 1/ to
2 prem.

BRITISH FUNDS THIS DAY.
( From the Mid List.)
Business done.
Bank Stock
3 per Cemt. Reduced Annuities l63h 99i
3 per Cent. Consols Annuities , EN i g
New 3,1 per Cent. Annuities
India Stock
India Bonds, £l000
Ditto, under £lO9O 27 31
South Sea Stock .... ... ......
South Sea Old Annuities Doi
South Sea New Annuities
Consols for Account
Exchequer Bills lid. June. March.
£lOOO.. par 2 p par 2p2 d 2 p
£5OO 2 p 2 p
Small 2 p 2 p
PRICE OF FOREIGN FUNDS THIS DAY.

Brazilian Bonds, 5 per Cent. lO9l i
Ditto New, 1852, 4* per Cent lOl 1004
Ditto New 80nd5,11829 dg 39, 5 per Cent lO3
Buenos Ayres Bonds, 6 per. Cent 67
Grenada Bonds, Deferred
Mexico." 3 per Cent.
Peruvian Bonds, 4* per Cent. BB4
Portuguese Bonds, 4 per Cent.
Russian Bonds, 5 per Cent.
Ditto 4k per Cent f
Ditto Small
--4
Sardinian Bonds, 5 per Cent. 9B
Spanish Bonds 3 per Cent
Spanish 3 per Cent., New Deferred 24
Di'Ao Passive (Conver;,ed) .' ss
Swedish Loan ..... ................. ..........
Venezuela Bonds, 34 per Cent.
Dividends on the above payable In London.
Dutch Exchange, 2k per Cent. 12 Guil.
Ditto 4 per Cent. Certificates...