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 1,5C0 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 60. to &id., 300 Egyp-
tian at 6/d. to 7d., and 500 Surat at 3d. to
411, 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 bas
been very dull. Tea has an up ,vard 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 reavons. Firstly, the expense incurred
up to the present time is but trifling ; secondly,
the colonists show great jealousy of new 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 aLsistance iu
Australia ; and, fourthly, two new banks are al-
ready charteral, and the Oriental having sub-
scribed a capital to the amount of 100,600/.
to open a branch, at Melbourne, there is ample
banking accommo lation for the colonies, and no
room for neri associations of the kind for several
years to come, for it must be borne in.mind that
the local banks are increasing their capita].
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 ci_e.lred 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 succees 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. Wil'iamson,
he might organise arrangements for obtaining a steady
supply of labour.
"In the meantime, we have great satisfaction in
reporting to you that. our ;•aformation of the state of
our plantations is most satisfactory, and that the
which it has e;..ablish3,l in the trade. The crop of tea,
quality of our produce sustains the high character
manufactured 77-1 the past season, amounted to 271,427
lb , showing an incree e of about 18,000 lbs. over that
of the pre‘:ous year, and its sale has iaa'ised a nett total
of 22,1521. sterling, showing an average price of ls. 84d.
teonrfieleinntg,tahsatththeye
fpmoelurlosltwbbi nendte satisfacd
tory
of our under-
taking since the year 1847.
yi
progressnbuershedo:nwrseiinctdgeortri2esdeaargeinc
The produce of 1847 real-
ised 9,7281. nest ' • that of 18'8 12,5521.; that of 1849
16,6281.; that of 1f.,50 18,1531.; and that of 1851, as
above 22,1511. rine .ret::, ave.-age pi.ce per
pound in those years was, for 18e.7, ls. 4d. ; 1848, ls.
5 1-16 d. ; 1848, ls. 6 IC-16d. ; 1850, ls. 6 2-16 d. ; and
1851, is. Bid.
All the produce a the past year, which
has come to hand, leads us to expect equally satisfactory
results in the re.lisation of the crop of 1852, of which
a poriion has already been sold, and a large quantity is
now in warehorse about to be brought to sale.
"In our lay;; report we expressed our hope, that,
allowing for extensive ade'tiors to 0u...• 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 pe • cent. upon .I,A paid-up capita
out of the profits of the past year, and we see no
reason why we should not rep-at the expression:,
contained in our last report, and state that we hope an.;
belleve that the (141dend will still be capable of gradual
inerP%se, and we feel confident that you Cll consider on
this occasion as- dividend, with eve.' reason to ex-
pect its gradual increase year by year, more satisfactory
than a larger dividend v nr, R ith the risk of its diminu-
Von 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 a to 7, for Transfer, and 100
for Account. Bank Stock is firm at 228, and India
Stock at 262. Exchequer Bills are at par to 2s.
preen. South Sea Stock is at 1151.
The Foreign Securities have been without any
particular feature. Brazilian Old Bonds are at
mai to I. Mexican have been nominally at pre-
vious rates, but are, perhaps, rather weaker.
Spanish Certificates are as low as S. Dutch Two-
and-a-Half per Cents, have been rather largely
dealt in at 651 to 661.
Railway Shares have been rather weaker, say to
the extent of fto N. French Shares are steady.
The Gold Mine Shares are drooping, and about
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/ pram. Port Royal 1/ to
2 prem.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY
( From the Official List!)
Business done.
Bank Stock
3 per Cent,. Reduced Annuities lG3h 99,1
3 per Cont. Consols Annuities
New 31 per Cent. Annuities
India Stock 262 .
India Bonds, £l000
Ditto, under £lOOO 27 31
South Sea Stock .... ....... .. ....
South Sea Old Annuities lOO4
South Sea New Annuities
Consols for Account
Exchequer Bills lid. June. March.
£lOOO par 2 p par 2p 2d 2p
£5OO 2 p 2 p
Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.

Braz;lian Bonds, 5 per Cent. lO3l
Ditto New, 1852, 4 per Cent ~ 101 1001
Ditto New Bonds,1182:: tit 39, 5 per Cent. 103
BMW') A3.C3 Bonds, 6 per Cent 67
Grenada Bonds, Deferred
Perms :an Bonds, 41 par Cent. BBi
Portuguese Bonds, 4 -per Cent.
Russian Bonds, 5 per Cent.
Ditto 41 per Cent
DiLto Small
Sardinian Bonds, 5 per Cem. 9B
..).o...nish Bonds 3 per Cent 4Ba
Ditto Passive (Converted)
Venezuela Bonds, 3; per Cent. 39
Dividends on the above payable in London.
Dutch Exchange, 2i per Cont. 12 Guil.
Ditto 4 per Cent. Certificates... 96g A 6