The Sun.
London, England, 1853-04-16 00:00:00

MINING INTELLIGENCE.

(From the Mining Journal of this day.)

MINES.—The smelters, for reasons best known to
themselves, have this week lowered the price of copper
2d. per lb., or about 181. per ton. We may, therefore,
we presume, look for rather more than a corresponding
fall in the standard for copper ores. In the absence of
any falling off in the demand for copper, and of any in-
crease in the supply of ores, it is difficult to account for
this sudden and unexpected move on the part of the
smelters ; and, as it would be in vain to attempt to
penetrate the mysteries of their craft, we must content
ourselves with considering the effect the decrease in the
price of copper may have upon the interests of mining.
The general share market has not been by any means
brisk, and the tendency of prices is decidedly down-
wards.
In the Bullion Market,—Mexican and South Ameri-
can dollars, 4s. llid. per oz. Bar silver containing
gold, all gold above 5 grains in the pound to be paid
for, ss. pgd. per oz. standard. Bar silver without gold,
ss. itd, per oz. standard. Bar gold, 775. 9d. per oz.
standard. Fine cake silver, ss. sd. per oz.
In the Metal Market the retrogade movement con-
tinues, and we regret to announce a fall of 2d. per lb.
on Sheathing Copper, and 181. per ton on Tough Cake
and Tile ; the respective prices now ruling are, there-
fore, is. id. per lb., and 1171b.—Tin also, British and
foreign, is lowered to Si. 12s. ; Plates full 6d. per box
reduced in price, and scarcely any sales making in the
article.—Spelter has sustained a further drop of 10s. per
ton. --Lead and Manufactured Iron alone maintain their
position ; Scotch Pig-Iron is down again to 545. per
ton.
The gold mining share market this week has been
quiet. The inquiries have been chiefly for the Califor-
nian adventurers, especially for Nouveau Monde, Ague
Fria, Anglo-Californian, Quartz Rock, and Yuba River,
the accounts recently received by some of these com-
panies being very favourably interpeted ; on the other
hand, the Australian mines are comparatively neglected,
and, consequently, to some extent have suffered in price.
On Thursday, however, they again rallied, shares were
inquired after, and they have since maintained their po-
sition, and Great Nugget Vein considerably improved.
The news received from California has been of great
interest. The weather was fine, the roads to the mining
districts were good, and business was improving. At
Campo Seco, two Mexicans had struck a pocket, from
which in five days they took out $5,700 worth of gold,
one piece weighing 81bs., washing in their battais in one
hour 200 ounces. At Curtisville, three Mexicans had taken
upwards of $30,000 out of one claim in three days.
A traveller states that he saw three lumps picked out,
the largest as big as a brick. A piece of gold-bearing
quartz, weighing 250 ozs., and not containing more than
20 per cent. of quartz, had been sent from Sonora. At
Poor Man's Creek, another lump had been taken out,
weighing over 23 lbs., and valued at 300 dollars. At
'Negro Point, the average gold found by each individual
was from 6 dollars to 8 dollars per diem.
A report has lately been spread that the value of the
100 dollars shares in the Rocky Bar Mining Company
were only of the value of 5 dollars in New York. It
appears that it was determined at the last annual meet-
ing that the denomination of the shares should be
changed from 100 dollars to 5 dollars. The old certi-
ficates have, consequently, been called in, and new will
be granted in the proportion of 20 shares of 5 dollies
each for every old one of 100 dollars. The Agua Fria
Company have received advices from Mr. Hepburn,
their superintendent, informing them that Mr. Attwood,
the agent, had transmitted to him 121 i ozs. of retorted
gold, part of the yield of 160 tons of veinstone from
Gold Hill ; not being able to clear out the mortars, he
calculated about one-fourth yet remained in them.

THE WOOLLEN TRADE.

(From the Leeds Mercury of this day.)

The imports of wool into London in the week ending

to-day have been 1,778 bales, of which 592 were frorii
Sydney, 453 from Bombay, 211 from the Cape of Good
Hope, 330 from Galatz, and the rest from Alexandria,
Germany, Belgium, &c. The market for English wools
is active at full prices, and foreign and colonial samples
are held at high rates, which check business.—Sales of
foreign and colonial wool have been effected only to a
limited extent during the past week. Prices, however,
firmlyfair amount
maintained,
continue- very firm.—ln the English wool market there
has
prices
are been asales
Nh an upward
ithis
of
with
—ln the Liverpool wool market wool is in good demand,
at rather higher prices, particularly for home-grown
descriptions. The public sales, next Wednesday and
Thursday, will comprise 200 bales Sydney, 1,500 East
India, 1,400 Peruvian, 400 Black Spanish and Italian,
and 1,000 Oporto, Buenos Ayres, Turkey, Egyptian,
&c. The imports during the past week have been 114
Oporto, 209 East India, and 287 Trieste, Leghorn, and
Egyptian.
The woollen cloth market of Leeds has fluctuated very
much this week. On Saturday, there was a brisk and
active business done in both the Cloth-halls ; nearly all
kinds of goods of a marketable character were eagerly
bought, and the stock of cloth in the market (which, for
a long time, has been exceedingly limited in quantity)
was nearly all cleared out. There has not been a better
market this year. On Tuesday very few fresh goods
were brought into the Cloth halls ; the assortment from
which the merchants had to select was, consequently,
in character and inconsiderable in quantity,
and a very flat and quiet market ensued. Considerable
deliveries of cloth are regularly taking place, by order,
direct at the merchants' warehouses, so that, on the
whole, there continues a very good trade in balk cloths.
There have been several buyers from London, Glasgow,
and other parts of the country in the town during the
week, which has caused more activity in the warehouses
for the home trade. Some of the shipping houses con-
tinue doing a brisk business, which, together with the
demand for own market, causes about an average trade
to be doing at present.
HUDDERSFIELD MARKET. -- Our market continues
without much alteration, and although the season is
pretty well over, the demand is kept up very well consi-
dering how firmly it has been sustained from the com-
mencement. In some cases prices are a shade easier.
ROCHDALE FLANNEL MARKET.—The flannel market
has been rather flatter to-day, and a more limited de-
mand for goods, but the prices have been fully main-
tained. The wool market has been quiet, with no change
worth mentioning.
BRADFORD MARKET.—The sales during the week have
been limited ; the prices demanded act as a barrier, and
the accounts from the country are quite contrary to
business being done. Noils and brokes are without
change. YARNS.—The business doing is not different
to that of many weeks past. The cost of producing
yarns is too high to enable the spinners to offer at prices
at all satisfactory to the manufacturers. PIECES.—The
difficulty of making goods to meet the prices offered is
not lessened, and the avocation of the manufacturers
continues cheerless and unremunerative. The fair at
Leipsic is well attended, but the advanced prices retard
operations.
HALIFAX MARKET.— There has been a fair call for
both yarn and piece goods, particularly the former, for
which higher prices are paid. In the wool market, too,
the business has been tolerably active, especially as re-
gards the bright Lincbln kinds, which are fully as dear.
Middle wethers are 171 d. to 171 d. per lb. Low and
middle short wools are much inquired for : they are
scarce, and prices a little tighter.
TRADE OF LEICESTER.—The high prices manufac-
turers require has checked the home demand for the
present. There is still a good business doing in the
foreign market. Worsted yarns have again advanced a
halfpenny per lb. Wools command high prices, and
there appears a full confidence they will continue at their
present rates, if not still go upwards.

NEW YORK MONEY MARKET.—The acnounts from
New York show a slow but steady course of recovery in
the money market, and after the next arrivals from Cali-
fornia the resumption of specie remittances to this coun-
try may probably be expected, the imports of foreign
goods having been continuously large. As compared
with the corresponding period of 1852, when the quan-
tities taken were unusually limited, the value of the
merchandise entered during the first 3 months of the pre-
sent year exhibits an increase of 3,500,0001. The im-
migration to New York during the same period had
experienced a considerable diminution, the arrivals
for the three months having been but 26,544, against
38,660 in 1852. This has been caused by the diver-
sion of the European tide to• Australia, and the
thinning of the Irish population from previous re-
movals, and already there were signs of a tendency
to
operators on
urestooo n k
an increase of wages. The New York Even-
ingt recentPo
t contains the following paragraphs regarding
thea banksnd otothers
e: r—s
f`:
eMI :
nettny
Exchangesome
eof
quite sure th
ties at the banks have got out of their difficul-
ties,on account of tl
have borrowed' the large sums they are known to
check on the' and this feeling supplies an important
have repeatedly tendency of the market. We
pressure, to the fact of
during the period of extreme
new, having borrowedefl some of the banks, old and
The case of the Hanover
to sustain themselves.
one publicly announced,erb Bank has been the only
excite-
ment is over, the real but now that the
has existed, we think, should
of the evil that
The Hanover Bank had to borrowould be made known.
Bank of the State of New York had $400,000, but the
sustain itself. This large sum Wasd to raise $900,000 to
Mr. A. Belmont and Messrs. Duncan,loaned to them by
The necessity to borrow seems to ilaSherman and Co.
directors having, with inexcusable reckvlee arisen by the
the Bank of Charleston, which had been buying allowed
ling exchange on speculation, to overdraw its account uP
ster-
the amount of $BOO,OOO. Of course, this large suns
to
from'the market limited the amount available to get te n
York merchants, at whose expense, therefore, the bank
relieved itself. Other banks borrowed largely, and the
Bank of Commerce re-discounted its paper to a very
large amount, while at the same time it was allowed to
avail itself of the large balances it held of the Ohio Life
and Trust Company. It seems of some [importance to
the mercantile community that they should know what
what a fragile reed banks are to rest upon for support."
PARIS BOURSE.—The advices from the Paris Bourse
mention a circumstance likely to have a favourable effect
both in its political and financial bearings, namely, that
the projected scheme for constructing a fleet of Transat-
lantic steamers to be stationed at the port of Cherbourg,
and which were expected to cost about 2,000,0001. ster-
ling, is reported to have been abandoned. From Odessa,
under date of the Ist of April, it is stated that much sa-
tisfaction had been occasioned by a confident impression
that orders had been received from St. Petersburgh for
disarming. • " The fear of a rupture in the East," it is
remarked, " has for two months past kept business in
suspense, and we may now hope to see again a httle
mote activity."