The Sun.
London, England, 1854-06-27 00:00:00

THE
,SUN, LONDON,. TUESDAY_EVENING, JUNE 27, 1854

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 10,000 bares, including 500
American, and 1,500 Surat, taken for export and
on speculation. The market closed with a harden-
ing tendency. Compared with Friday's rates,
prices of all kinds were a shade against the buyer.
I'he sales comprised about 7,500 American ; 170
Bahia, at Gad. ; 300 Egyptian, at 5/d. to Bd. ;
and 2,000 Surat, at 38d. to 4id. per lb. Railway
Shares were firm.

In reviewing the condition of the London pro-
duce markets during the past month, Messrs. H.
W. Jewesbury and Co. remark :--
"The chief characteristic of the foreign and colonial
produce markets during the past month has again been
one of extreme flatness ; importers have continued to
supply the markets largely, and have mostly been free
sellers, but both home dealers and foreign buyers confine
their purchases to actual requirements, consequently,
owing to the present limited demand, a large proportion
of the goods offered have been bought in, and, gene.
rally, where sales have been effected, lower rates have
been submitted to. The importations of produce have
b3en moder Ate, yet the stocks in most instances exceed
those of last year ; the deliveries from the warehouses
continue good, but are rather under those of the former
year, both for export and home use ; the present mode-
rate prices now ruling may, however, lead ,to an in-
creased demand for home consumption, if not for export.
The demand for dyes and dyeing materials has been
very limited, and prices have further given way for
safflower, lac dye, and cochineal ; for indigo prices are
nominally without alteration. Other articles are gene-
rally easier."

Prom a Parliamentary paper, containing parti-
culars of the Home accounts of the Hon. East
India Company, we find that the debts in England
of the Government of India on the Ist May, 1854,
were 6,170,2651., and the credits 4,712,9501.,
showing an excess in the debts of 1,457,3151.
At the annual meeting of the South Australian
Banking Company this day, a very satisfactory
report as to the financial and social condition of
the colony was read. The net profits of this year
were 46,2621. 13s. 61. The directors recommended
a dividend for the current year of 14 per cent. on
the paid-up capital. The reserve fund was
34,3571. Bs. 6d. After a short discussion the re-
port was adopted.
There are several arrivals from Australia, bring-
ing about the same dates as those lately to hand,
but a further supply of specie. The Windermere,
from Port Philip, has 25,000, or according to one
report, 35,000 ounces. The Marquis of Bute is
in the Downs, from the same colony, but is under-
stood to have only 766 oz. The Lord of the Isles,
from Sydney, has .1,052 ounces. The Royal Stuart,
from Sydney, is off the Scilly Islands, but it is not
known whether she has bullion on board.

Accounts from Belgium state that the applica-
tions for the 5,000,000 francs of the loan to be
openly subscribed, have amounted to as much as
would require allotments of 80 to 100 million of
francs.

Letters from France represent the wheat crops
as looking well, but the crops, it is asserted, would
be about a fortnight late, even if the weather
continues fine.

The market for English Stocks has been very
good again, and prices have met with fair support
at the highest range of yesterday afternoon. The
demand fur money is still rather active, the supply
of stock absorbing cash. Consols have been 94i f,
since 93k to 94, and are now again 94i I. There
have been sal s made to invest the proceeds in
Reduced 3 per Cents., which have been quoted
931 to 94i. Bank Stock has been firm at
205. The New 3i per Cents. have been 94 to
94g. Exchequer Bonds have been quoted 2s.
discount to 2s. premium, and the Bonds to vxpire
in 1858 at I premium. East India Bonds have
been at 2s. premium.
The Foreign Stock Market has been dull, and
prices are still, for the most part, nominal. Swe-
dish Four per Cents. have been quoted 85, and
Dutch Four per Cents. have been done at 90.
Brazi:ian Old Five per Cents. have realised par.
Equador Stock is at 31 to 31-, and Peruvian Three
per Cents. are at 50k.
Railway Shares have been buoyant generally,
considering that the amount of business done in
them has not been large. North-Western, Mid-
land, and North Stafford have been about ss.
better.

The meeting of the proprietors of the North
Stafford Company is considered .very favourable,
but many entertain the • opinion that with the in-
creasing traffic an amalgamation is not desirable,
and that the line, unless still better terms are ob-
tained, should depend upon its own resources. Were
the meetings held at more c uvenient places, and
the opinion of the•shareholders at large taken upon
this point, it is considered that there would be a
majority to vote against amalgamation. The North
Stafford line ultimately will pay 6 per cent. if well
managed, and certainly ought not to be leased for
4. Many of the small lines will be benefited by
the throwing out of their amalgamation bills, and
not be pushed into hasty agreements. The Luxem-
bourg shares are not quite so good, and the French
are slightly weaker.

The Colonial and Foreign Gold Mining Market
is not brisk, and low prices are still accepted for
the Californian schemes. The Linares Mine is
higher, and the St. John del Rey are good.
The Joint-stock Bank shares have been quieter,
but the Colonial Bank are up 1.1. English, Scot-
tish, and Australian are cheaper.
The Crystal Palace shares are heavy. Canada
Government Debentures are steady.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
( From the Otkcial List. j

Rnsiness done.
Bank Stock ............ 205
4 per Cent. Reduced Annuities 94 A 31
34 per Cent. Annuities
India Bowls, 33000
Ditto, under £lOOO 2 p
Consols for Opening 19th July
Exchequer Bills, 24d.
£l000
£5OO 2 p 2 d
Small
Exchequer Bonds Scrip, 1853....... i p
PRICE OF FOREIGN FUNDS THIS DAY.
rraz:fian Bonds, 5 per Cent.
Ditto Small ...... • 99
Ditto New, 1652, 4A per Cent 93
Equador Bonds
• ~ica:l :3 per rent.
Peruvian 3 per Cent.
Spanish New Deferred, 3 per Cent —
Ditto for the Account l9,f
Swedish 4 per Cent... ..... ............
~iv,denls on tho]q.bove paya.ple in London.
Belgian Bonds 43 per Cent. ex. 25 fr -
Dutch Exchange, 2.1 per (lent. 12 Guil
Ditto 4 per Cent. Curtifleates ..,~
THREE O'CLOCir.
Consols far Opening 19th July ... 93' 4x d

The Duke of Devonshire has left Devonshire House
for Brighton, where the noble duke, who continues
slowly to improve in health, intends to remain until the
secsnd week in the ensuing month. His grace, we un-
derstand, contemplated giving a series of fetes at his
splendid seat, Chatsworth, in honour of his youthful re
lstive, Lord Cavend►sh, attaining his majority on the
23d of July, but in consequence of his rather delicate
state of health the festivities will take place at the Ear
of Bur'ington's, Holkar Hall, Lancashire.
THE DUKE OF BEDFORD.—The Duke of Bedford
arrived at Galway on Tuesday, on his way to visit his
estates in Dallagan.
Lady Molesworth has issued cards for a grand ban-
quet and evening pary on Saturday. Viscountess Pal-
merston will not have any soirée on that evening, having
given up the night to Lady Molesworth.
GRAND CONCERT AT LANSDOWNE HOUSE.—The
Marquis of Lansdowne (his lordship's daughter-in-law,
the Countess of Shelburne, doing the honours) gave a
grand concert la.st evening, at Lansdowne House. The
artistes were selected from the Italian Opera, and sang
some choice morceaux from popular operas. The splendid
suite of rooms were thrown open on the occasion. Her
Royal Highness the Duchess of Cambridge and the
Princess Mary, attended by Lady Suffield and Major l
Home Purves, arrived at ten o'clock, and were received
by the noble and venerable Marquis and Lord and Lady
Shelburne, and conducted to the principal saloon. There
were present the whole of the foreign corps diploinatique
and the elite of the rank and fashion in London, includ-
ing the Duchesses of Somerset and Inverness, the Coun-
tess of Kerry, the Lady Mary Fitzrnaurice, and the
Hon. Charles Gore, the Marquis and Marchioness of
Ahercorn and the Ladies Hamilton, the Countess of
Chesterfield and Lady Evelyn Stanley, Lord Ward, the
Marchioness of Ailesbury, the Earl of Powis and the
Ladies Herbert, the Earl and Countess of Besaborough,
the Earl and Countess of Clarendon, the Earl of Dal-
keith, the Duke of Newcastle, the Countess of Jersey
and Lady Clementina Villiers, Lord and Lady Stanley
of Alderley, the Marquis of Bath, Scc.
THE FRENCH COURT —lt is believed that the Emperor
and Empress will leave Paris on the 20th July for the
Pyreaees, or perhaps on the visit which his Majesty pro-
ssised to pay to the camp at Marseilles. The Empress,
whose health is, it appears, by no means robust, will
pars some time in the Pyrenees, which she so often
visited in other times, and preparations are already
making at Biavritz, which is only distant about half an
hour from Bayonne:
DEATH OF A DISTINGUISHED OFFICER.—The late
Licut.-Co'onel Augustus West, formerly of the 3d Foot
Guards, was Governor of Landguard Fort, since 1311.
The value of this appointment was but 1731. 7s. fid. It
will not be filled up.
AMSTERDAM AND ROTTERDAM PRODUCE MARKETS.—
The weekly reviews from these markets state that busi-
ne::s had increased, and that there was greater firmness .
in prices. A demand for coffee bad caused a slight ad.
vanee, but the orders were principally for exportation.
There had been material -variation in sugar, and quota-
tions continued to be: fairly maintained. The operations
in rice and indigo were rather more tatiensiveo at ,UP j
proved rates.

LATEST FOREIGN NEWS.

THE WAR.

THE RUSSIANS TURN THEIR BACK ON

CONSTANTINOPLE.

CRONSTADT (in Transylvania), JUNE 19.—The
Russians are leaving Wallachia in all haste. They
take with them the horses, oxen, wheat, and every
thing moveable on which they can lay their bands,
leaving nothing but their wretched paper money.
BUCHAREST, JUNE 15.—The march of a British
detachment from Varna to Pravadi on the 12th
was announced on the same day to the commander
of the Russian corps of observation stationed below
Barsardshik, by Cossacks. The Russian corps at
once commenced a movement iu retreat.

The official roll of the Russian armyof the Danube
shows a loss of 50,000 men since the crossing of the
Pruth.

• SILISTRIA.

VIENNA, Monday. —Ad vices from Herm an s tad t,
of the 26th, state that the siege of Silistria wa,
raised on the 22d by the Czar's orders, and that
the Russians were retiring en masse. Their re-
treat was being effected from all parts of Wallachia,
in the direction of Fokshan and Birlat.
Giurgevo has been evacuated.

warded by sundry fine dishes of perch. Altogether,
the station is excellent, and as the commissariat is not
deficient in supplies of all the essentials of bread and
i)eef there is no need of complaint, though many of the
Sybarites walk into town and back again when they can
get time, to procure salt, pepper, tobacco, and vegeta-
riles. I much fear there will be a scarcity of legu-
minous food, and that the health of the men will
suffer in consequence. The fleet, which is close to
'is (in Baltschik Bay), has felt the evil effects of
such scarcity already, and the Britannia and several
other ships have been visited with scurvy. On Satur-
day last the Spitfire paid a visit to Bourgas, which is a
town of some importance south of Varna, in the Black
Sea, and brought up between 20 and 30 tons of onions
for the use of the fleet, and 50 head of country cattle,
but as some complaints have been made of these little
interferences of the sea service with the commissariat of
the land forces, Omer Pasha bad issued strict injunctions
all along the European coast of the Black Sea that no
ships be provided in future with such stores or provisions
under any pretence short of that of absolute want. Our
commissariat has a hard task to play here. It is so tied
lowa with orders, and so cramped by surveillance, that
its energies are greatly diminished. It treats and con-
tracts, where the French commissariat demands and takes,
and in no department bas the effect of our ill-judged eco-
nomy been so painfully manifested as in the operations of
that which is above all others essential to the progress
of an army, Mr. Commissary-General Filder has, I
understand, succeeded in entering into contracts with
certain Armenians, for a supply of 2,800 head of cattle
a month. These Armenians have given satisfactory
securities, but as their race is essentially Russiae in feel-
ings and sympathies, they will be required to he well
looked after in every way, for as•this country is situated
just now, it would be difficult to feed us should the con-
tractors fail in their undertaking. A great benefit has
been gained by this advance from the neighbourhood of
the town of Varna. The slough of the camp, the extra
weights, &c., are cast off, and, above all, the sunplies of
drink are cut off. Drunkenness at Gallipoli and at Scu
tars has been the bane of our men, French and English.
With us flogging seems the only cure, and even that is
not a good or certain one. Sir D. L. Evans is particu-
larly opposed to the practice of the lash, but something
must be done if the mischief continues. A " hell" has
been established near Scutari barracks by certain enter-
prising persons from the neighbourhood of St. James's-
street, but hitherto the worthies have been very un-
lucky and have met little custom, and none of it
lucrative. An Italian has erected a very comfortable
casino, an eating and smoking room, in the same place.
Our commissariat has got 40 days' bread in advance for
the army; the French have not got 20 days' bread.
The 74th Regiment of the line (French) has arrived at
Bourgas, to lay out camps and break ground fur the
French columns which are now marching up there. In
a week they expect to have 25,000 men in the place, but,
except in grain, the supplies are deficient. There has
been a serious scuffling fight at Gallipoli between the let
Royals and the 30th Regiment, in which all the men on
both sides were engaged. ' Only broken heads were the
result, and the combatants are now as good friends as
over. .

"News has reached us that the Military Governor of
Silistria was killed the other day by the bursting of a
shell into the mosque where ho was at prayer.
"In Varna-bay the London, 90, the Bellerophon, 78,
the Arethusa, 50, as well as the French Henri IV.,
with several steamers and transports of both nations,
are lying waiting for orders and assisting is any opera-
tions of debarkation which might be required. Admirals
Dundas and Hamelin had also come down to assist at
the conferences between the French and English officers.
A. new Pasha has arrived here, who is supposed to be
better fitted to the exigencies of the times than his pre-
decessor. He was received. with all honour:3 by the
Turkish garrison yesterday, but he landed without any
ostentation beyond that displayed in his numerous and
rather dilapidated followers of swordsmen and pipe-
bearers. By the Sank steamer Colonel Bohlen, of the
'United States army, arrived here, for the purpose of
attaching._ himself to the allied armies, so as to be pre-
sent during the operations of the war, and probably
with a view of reporting to his government. He has
served in the French ai my, and took a part in the Mexi-
can campaign. Mr. Lloyd arrived on Monday in the
Carnac, and proceeds at once on a secret mission to the
Caucasus. Mr. Tutnell, of the Medical Department,
Dublin, and several other gentlemen, came out by the
same vessel to take a glince at the s.lene of operations."

PROSPECTS OF THE CAMPAIGN IN THE

EAST.

The following is from the Constantinople corres-
pondent of the Times :
" CONSTANTINOPLE, JUNE 13.—We are now in the
middle of June, in another week is the summer solstiCe,
and then shortening days and parched fields will an-
nounce that the summer of 1854 is drawing to a close,
and that the rains and mists of another winter are slowly
approaching. As the season advances the prospects of
the campaign become more definite, and it is easier to
see how far nature will limit the operations of armies.
Among a people like the English, long unacquainted
with war at home, and accustomed to turn their atten-
tion to Inc'ian campaigns only when the news of actual
strife arrives, it is natural that there should exist a no-
tion that the declaration of hostilities is always followed
by sharp and decisive encounters, and that if the Czar
be vulnerable at all, the blow can be struck at once.
But military men, and those who are brought into con-
nexion with them, are aware that for a war like the
present great preparations and consummate caution are
necessary. Residents in this couniry also know how
small is the portion of each year which can be devoted
to campaigns on the old battle field of the Turkish fron-
tier. Such a climate as that of the Danube, where in-
tense cold alternates with choking steamy heat, and
where armies are only delivered from the pestilences of
autumn, by the benumbing frost of the early winter,
only allows a few months of spring and summer for the
operations of an army opposed to•a resolute foe. Eng-
lish generals, also, like the English public, are careful
of human life, and dread to expose the troops they lead
to • such fatal enemies as fever and small-pox, unless
there be a certainty of a brilliant campaign and an en-
during peace. Should the Russians remain in their
defensive position behind the Danube, it is the opinion
of all that operations for their expulsion must be left
until the ensuing spring. If they persevere in their
attack on Silistrui, the allied troops will, no doubt, push
on and force them to raise the siege. In such an event
some encounter of a decided nature will probably
take place ; and the superiority of English and French
soldiers is too decided to leave a doubt as to
which side victory would incline to. But there is
every reason to believe that the presence of the allies in
force at Varna, and a successful resistance of the Turkish
garrison at Silistria, will be sufficient to cause the Rus-
sian General to give up this undertaking, and await the
attack of the three armies behind the barrier of the
Danube, or even to retire beyond the Pruth. It is in
such a case as this, with the foe in unknown strength
and positions in the rear of a, mighty river, that the trial
of generalship will begin ; and general consent seems to
allow that the enterprise of clearing the provinces can-
not be attempted in our present state of preparation,
and at so late a season of the year. A campaign on the
Danube should be begun with the first bud of spring. As
soon as the melted snow has sunk into the rich marshy
earth, and the roads are tolerably hard and firm, the
army should cross the stream, and its success must be
decided if it can hope to reach the Pruth victoriously
at so early a period as to look without anxiety to
the 500 miles it has - traversed and will have to
tread again. In April, if the season be ono of
average temperature, toe pontoons may be laid
across the streams, and in September the violent
rains descending like a flood make the roads im-
passable, and the invading force must be ready with
its supplies, and prepare to pass the winter on the
plains where it is encamped. Our army and that of the
French cannot hope for any such state of readiness as
will allow them to occupy Wallachia during the present
year. July must be far advanced before the allied troops
can be brought in force to the Danube. The fevers of
this month and of August are so deadly, that even
Russian generalship, prodigal as it is of human life, will
feel it necessary to abandon the swamps through which
the river flows, and concentrate at Bucharest, or in the
ridge which runs like a backbone along the Dobrudscha.
An offensive campaign, if commenced late next month,
could not be carried on for more than six or seven weeks;
it could lead to nothing but barren victories and pre-
cipitate retreat, and would be purchased by the de-
cimation of our ablest troops, the discontent of the
nation, and the discouragement of an army, acted
upon by that superstitious terror And that insane
recklessness which are the result of a pestilence. It
requires no great military skill to see that if the ex-
pulsion of the Russians is to be effected without the
aid of Austria it must be by the whole force of the
allied Powers, in their fullest state of prepara-
tion, with a better knowledge of the country than
exists at present, and with six months of favourable
weather before. them to carry on offensive operations.
Prudence therefore dictates that no rash enterprise
should be attempted, and it is to be hoped that no im-
patience on the part of the public at what may seem the
tardiness of those in command will urge on statesmen
or generals to attempts which are contrary to their bet-
ter judgment. - •
" Something similar are the position and prospects of
the fleet. Unless the enemy leaves Sebastopol, it is
difficult to see what can be done in that quarter, except
to watch the harbours closely and distress the empire by
the destruction of its maritime trade. Every means has
been used to draw the Russians from the security of
their batteries. First; the fleet approached, leaving be-
hind two of the three-deckers, which were stationed out
of sight of the Russians, but sufficiently near to come to
the assistance of the squadron in case of need. It was
thought that. the appearance of a diminished force would
tempt the enemy to a sortie, but the Muscovite Admi-
ral remained immoveable. Next the fleet lay off, and
two steamers -went in close to the .mouth of
the harbour, but with no better success. A
sailing frigate was next sent, which might inspire
a hope of a capture with a short chase. All these expe-
dients have been equally unavailing, and the Russian
fleet is no doubt furnished with explicit instructions not
to venture out, except in case of some great misfortune
befalling the allies. An attack on Sebastopol itself is no
doubt impracticable, except with the assistance of a land
force. The ships Must enter singly into the narrow
mouth of the harbour, where the fire of 800 pieces of
cannon can be directed on each in turn. Naval officers
say that even the smoke caused by so tremendous a fire
would be sufficient to make the entrance impossible, ex-
cept to those who know the harbour well. Many per-
sons here look to the Crimea as the vulnerable point of
Russia, and consider that its conquest should be the
first enterprise of- the war. There can be no doubt of
the -feasibility of such a plan if properly conducted.
3,Vhatever may be the Russian force hi this
,peninsula,,
it i 4 initaissiole that "it can long resist the•attacks.of
Memies, who hold the sea, and cau ?..1 all 9_?.327.