The Sun.
London, England, 1854-05-27 00:00:00

(Prone the Mining Journal of this day.) 20
During the past week the business done in our market has 10
been of a limited character ; and, as there appears to be a 126
very reserved feeling existing with regard to metals generally, St.
the demand is not likely to improve to any extent at present ; 50
indeed, it is not improbable we may continue to experience 40
an inactive market for some time. If the value of metals is 25
estimated in proportion to their consumption, it is evident 25
they have realised their highest point, for the supplies are St.
now becoming more than adequate to the demand, with the 812 s
exception of iron, for which a strong enquiry exists ; and St.
should our market be pressed with heavy stocks, holders St.
would be compelled to submit to some concession in price ; 50
and as gradual changes are always preferred to sudden iluctu- 25
ations, there would seem policy in making such alterations at 100
once, to meet, if possible, the views of buyers. t.
Although, during the week, information has been received 6:
that several of the Californian gold mining associations aro in 25
active operation, and making returns, yet no decided improve-
ment 50
can be said to have taken place in this stock. Quartz 20
Rocks have declined, Ague. Fria and Anglo-Californians have
been somewhat firmer ; but, on the whole, the market may
be considered quiescent, buyers and sellers showing little
tendency to operate. The several accounts which have
come to hand from California have been more than ordi-
narily favourable. Business was generally reviving in San
Francisco Coals from Vancouver's Island were selling at
$2O per ton ; and as the Hudson's Bay Company had largely
increased their facilities for working the mines on that
island, a full supply of coals could be depended upon from
the Pacific side, for both mining and domestic parposes. The
mines continued to increase in production : the last arrivals
at New York from San Francisco brought in $2,714,520 in
gold-dust. At Yankee Hill, near Columbia, a piece of
gold, weighing 271b5., had been dug out by a man who, the
previous day, was 53 poor that he had not sufficient funds to
prova. •le himself with the necessaries of life. As will be
seen from the reports of the several companies, quartz crush.
ing is progressing favourably. The Agua Fria Company have
received a remittance of gold, amounting to 3198 ozs. Sir
Henry Huntley, the superintendent of the Anglo-Californian
Company, reports that ou what has already been crushed a
profit from 41. 10s. to 51. per ton was made, and that remit-
tances would be forwarded by the next mail. The report of
Mr. J. A. Phillips to the Nouveau Monde Mining Company
is anxiously looked forward to, and now that the accredited
companies aro making returns, it is anticipated that
a reaction will take place, though it is at the same to be de-
sired that several of the associations which are now dragging
on a lingering existence should be wound up, as while they
continue in the market, even though at nominal prices, they
injure, with the less-informed portion of the public, other
stocks ; and if business in these descriptions is to regain a
healthy tone, those associations must be expunged from the
list. The Sydney Escort Company, it appears, at their last
meeting, had lost, on their year's transactions, 6,677/. ls. , and
had petitioned the Government for a grant of 5,0001.: this was
conceded them, on the condition that they resumed their useful
labours for another year ; but it would appear that they ima-
gined the grant should be-afforded them untrammelled with
any restrictions The Hobart Town journals state that rich
discoveries have been made in the Ben Lomond district. At
the Eureka diggings, a nugget, of the weight of 207 ozs. had
been found ; and it was reported that one at Ballarat had been
taken up, which, sinking the quartz, weighed 685 ozs. (?)
The gold-fields would seem to have no decrease in produce.
and the diggings were as brisk as at the first discovery.
The arrivals of bullion this week have been—Kangaroo,
from Melbourne, 10,111 ozs. ; Aberfoyle, from Geelong,
21,108 ozs. ; Constant, from Melbourne, 12,000 ozs. ; Kent,
from Port Philip, 63,735 ozs. ; Maidstone, from Sydney,
15,Y05 ozs. In addition to this, 127,6501. has been received
by the American steamers, Arabia and Pacific, as well as
1,2351. per the Tagus. The gold on board the wrecked
steamer Australian, 78,907 ozs. has been landed at the Cape
of Good Hope. The arrival has been announced of the Surrey,
from Melbourne, whence she sailed on the 27th Jan., but it is
not yet known if this vessel has any gold on board. In addition
to the imports already recorded, the Irene, from Adelaide, has
5,337 ozs. of gold on freight ; the Wellington, from Hobart
Town, 1,10 ozs. ; and the Derwentwater,from Hobart Town,
240 ozs. ; in all 6,677 ozs., worth 26,7001. The Mary Queen,
from Portland Bay ; the Francis Ridley, from Melbourne ;
and the Hero, from Launceston, have no gold on freight.
The Stirlingshire is also in from Launceston, but is not
known to bring any gold. The Ajax sailed from Melbourne
on the 20th of Feb. for London, with 10,000 ozs. of gold on
freight • and the Marquis of Bute, on the 25th of February,
with 766 ozs.
In Iron and Coal Companies during the week, business has
been remarkably dull ; in fact, there have been scarcely any
actual transactions