The Sun.
London, England, 1853-12-13 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK,

The sales of cotton at Liverpool yesterday were
estimated at from 7,000 to 8,000 bales, of which
2,000 Surat were taken on speculation. The market
closed firmly, with prices of all kinds fully main-
tained. The sales comprised 150 Pernam and
Maranham at 6d. to 7id., 200 Bahia at 61d., 300
Egyptian at 6d. to 71d., 3,000 Surat at 21d. to 4d.,
50 Sea Island at is. sd. to ls. 9d., and the remain-
der nearly all American. In railway shares a large
business was done at advanced prices.
The letters by the Victoria steamer add a few
items to our previous news, and confirm fully the
favourable impression excited by the items which
were yesterday given. Among the satisfactory
changes is the diminished cost of lighterage. One
report states :

"The present high rates of cartage have the effect of
deterring shopkeepers at the diggings from making
large purchases, and an improvement in the state of
the roads is anxiously looked for by all parties interested.
We may remark that the rates of lighterage are still
falling-10s. to 15s. per ton from Hobson's Bay to the
wharves, Melbourne, being the general charge. This
branch of business seems likely to be overdone, for
everything that could be made to float has lately been
in requisition for lightering purposes, and now it
appears that several lighters are at the wharves, unable
to procure employment."

The Ballarat " diggins" maintain their reputa-
tion. It is stated by a party writing at Geelong :
" The prosperity of the Ballarat side is best told by its
greatly increasing yield, the amount by escort this week
being nearly double that of the previous week. The ex-
traordinary finds there lately have induced a large num-
ber thither, hundreds are thronging the road—in fact, a
regular rush has set in for that quarter ; but although
the individual success there has not had its equal in the
world, still the very deep sinking and hard labour re-
quired on the present field must make success but par-
tial, and these diggings only fitted for the veteran
hands. However, the numbers congregating there now
have a large scope of country proved auriferous, and
which, without doubt, will be found remunerative.
"Trade in all its branches has received a decided im-
petus from the improvement of our gold-fields, and
there is the prospect of a stirring season."

There were numerous public companies starting
at Melbourne, and enterprise was stimulated by the
abundance of money.

The Turon " diggins " are highly spoken of. We
are told in an account from Bathurst :
" Considerable excitement has prevailed at Sofala,
during the past few days, from intelligence that rich
dry diggings had been discovered somewhere at the head
of Big Oakey Creek. The river is quite deserted in some
parts, all the diggers having left for the newly discovered
locality, and at the present time there are not less than
four t• five hundred diggers at work, all engaged in sinking
shafts. Two West Indian blacks have been working at
the spot for some time, and have amassed together about
twp thousand eight hundred pounds ! A party of Germans
have also been doing remarkably well, and it was owing
to a dispute between the two parties, respecting the
boundaries of their respective claims, which was even-
tually decided by the commissioner, that the secret was
divulged. The new diggings are progressing favour-
ably. A number of parties are procuring their two,
three, four, and six ounces per day. Many, however,
who have sunk holes have obtained nothing. The report
of I:,,,rties making their ten ounces per day turns out to
be incorrect. The owners of claims in Sofala Reach are
about to commence to cut a race, but they will be un-
able
to work their claims on account of the large body
of water which is hid in the shingle of the river."
Business in the English Stock Market has been
very restricted, but the quotations are lower by
nearly per cent., owing to the confirmation of
the news as to the destruction of the Turkish ves-
sels. For Account the quotations have been 961 to
974. The Three per Cent. Reduced Annuities are
95 to i. Bank Stock has been at 220 to Ex-
chequer Bills are 7s. to 9s. premium.
Rather a limited business is doing in Foreign
Stocks. Mexican are per cent. worse, being
241 ; and Grenada Deferred flatter, at 8i- ; but
Equador are 54, being firmer. Russian Bonds are
rather depressed, the Five per Cents. being 1121
and the Four-and-a-Half per Cents. 984 to 983/4.
Sardinian are heavy at 902, ex dividend. Spanish
Bonds are weaker, the Three per Cents. being done
at 47, and the New Deferred at 223/4. Dutch Four
per Cents. are 96.

There has not been a large business doing in
English railways, but prices generally have been
steady. Great Northern have been very firm, and
also Midland, but Caledonian are not quito so good.
In French shares there has been scarcely any deal-
ing, but the quotations are supported.

The Australian Mining Shares are very quiet,
but full prices are current. Santiago de Cuba have
risen fully 1/. to 1/. 10s. Cobre copper are flatter.
Joint Stock Banks are neglected.
Land Companies' are at steady prices. British
American are fully 5/. higher.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(Prom the Official List.)

Business done.
Bank Stock
i per Cent. Reduced Annuities .. 95A i i
3 per Cent, Consols Annuities shut 06
New 31 per Cent. Annuities 97 64 74 i
Long Annuities, Expire sth Jan., 1860
India Stock
South Sea Stock
South Sea New Annuities
3 per Cent. Annuities, 1751 shut
Consols for Opening 18th Jan. 941 i 5
Exchequer Bills, ld.

£l000
Small 6 p

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Equador Bonds
Grenada Bonds, Deferred
Mexican 3 per Cent.
Diao for the Account 244
Russian Bonds, 1822, 5 per Cent. £St ll2} i
Ditto 4i per Cent 9BA 1
Sardinian Bonds, 5 per Cent.. ..... ..... .
Spanish Bonds, 3 per Cent 47
Spanish New Deferred, 3 per Cent. 22i

Dividends on the above payable in London
Dutch Exchange, 2i per Cent. 12 Guil .....
Ditto 4 ptr Cea:;. Coi;-,ifieates ..,„.
Ditto Bonds

96
95i
HALF-PAST TWO.
Consols for Opening 18th January 94il 5 x d

THE OVERLAND MAIL.—The commercial accounts
from India, China, and Australia yesterday are satisfac-
tory, especially in the latter case, inasmuch as an in-
crease in the previously unfavourable character of the
markets was generally anticipated. At Melbourne,
although trade could not be pronounced active, there
was a decided tendency towards improvement, and, in-
stead of sales of imported goods being impracticable un-
less forced, there was a strong disposition on the part of
dealers to do business at moderate prices. The extraor-
dinary nature of the new discoveries at Ballarat seems to
have been among the principal causes of the improved
feeling. In the quotation of gold a decline had occurred
of is. per ounce, owing to the announcement that the
local Government, in an intended re-arrangement of the
tariff, were about to abandon the license system, and to
substitute an export duty—a measure which seemed
likely to meet great opposition. The plan in question
had not yet made its appearance, but it was generally
surmised that all existing duties would be increased, and
that a new one would be placed on sugar. During the
dullness of trade consequent on the winter season now
ended many projects of internal improvement had been
organized, including two railways from Melbourne to
Hobson's Bay, a ship dock and canal, and also a patent
slip, all of which were likely to be carried out at an
early date. The total amount of gold brought into
Melbourne by escort during the month had reached
197,054 ounces, or at the rate of nearly 200,0001. ster-
ling per week, or more than 10,000,0001. per annum.
With regard to the several gold mining companies, the
information at present received is scanty, owing to the
newspapers and some of the despatches by the present
packet not having come to hand. At the Stock-Ex-
change yesterday the shares of the Peel River Company
receded, owing to a paragraph in the general news that
it had been especially unsuccessful in consequence of the
heavy expenses incurred. In this, however, there must
be some mistake, since the company had not yet com-
menced operations, Mr. Odernheimer having been de-
spatched by them from London only in June last to
make a mineral survey and to communicate the results.
Possibly the report may have intended to refer to the
Cordillera Company, by whom a small portion of the
Peel lands were leased, and whose operations were
checked by the wreck of the vessel that took out their
men and machinery ; or the company in question may
be one which was started in 1852 with the imitative
name of the Peel River Gold Mining Company of Aus-
tralia, but of which little has since been heard.

Trn AUSTRALIAN MAILS.—The mail steam-packet,
Victoria, which arrived from Sydney, Australia, and
the Cape of Good Hope, brought over the largest number
of letters that has been received for a considerable time,
amounting to 140 bags. The employes at the General
Post-office yesterday were actively engaged in assorting
them, and a great portion were not delivered in town
till late in the afternoon, having met with some delay
en route, having been landed at Falmouth, instead of
Plymouth, in consequence of the very boisterous state
of the weather.

CAPTAIN CODDINGTON.—We regret to state that Capt.
Coddington, who was for some years manager of the
Caledonian Railway Company, died at Chester on Thurs-
day. He had been for some time labouring under a
painful disease, for which an operation was recently per-
formed upon him, but from which he never recovered.
—Nora Britiok