The Sun.
London, England, 1854-08-08 00:00:00

THE OVERLAND MAIL.

_
We have received, by express, a Calcutta paper
of the 29th June, and a China paper of the 22d
June.

(Prom the Bengal Harkara of 29th June.)
We hardly remember a period at which we have
had so little news to send home as the past fort-
night offers. There is absolutely nothing to record
that would prove of any interest to the English
reader. In Burmah all is quiet ' • the Russophobia
in the north-west is confined to the reports which
reach from Cabul, and of local events we have none
to chronicle. We therefore must beg reference to
the subjoined extracts.

COMMERCIAL REPORT.
Bengal Hurkaru Office, Calcutta, June 29.
GENERAL REMARKS.

Since our last issue we have received the London mail of
the Bth ult., but the commercial accounts being rather of
a discouraging nature all speculation has been checked for
the present, and shippers here have become very circum-
spect and cautious. Owing to this state of affairs, and the
unwillingness displayed by shippers to operate beyond
what they had already contracted for, combined with the
scarcity of produce in our market, our rates of freights,
especially to Great Britain, have taken a downward ten-
dency. This circumstance might enhance the value of
produce, but we do not suppose anything will be done be-
fore the receipt of further accounts from Europe, daily ex-
pected from Bombay by electric telegraph.
We have been for some days past constantly receiving
complaints from several districts in Lower Bengal and
other parts about the injuries which the plant has suf-
fered by £he excessive heavy rains, which do not appear
to have ceased altogether. Jessore seems to have suffered
more than the others, while Kishnaghur and Baraset
have also had their hare of the effects produced by
the late heavy rains. In the Dacca and Mymensing
districts, where manufacturing has commenced, the
produce has been very low and unsatisfactory. Unless
the weather changes for the better and continues till the
end of the season, we are apprehensive that the indigo
crop will fall short of an average. The rivers also com-
menced to rise very quickly, which will force planters to
cut and remove the plants likely to suffer from the rise.
In our market there is almost nothing doing now. By our
last accounts from London, the quarterly sales had com-
menced, but the biddings had been exceedingly slow, and
a reduction of 4d. to 6d. had to be submitted to. Both
raw silk and silk piece goods markets are very quiet, and
nothing doing in them since the mail of the Bth May last
came in, at the same time there is no supply of finer de-
scriptions of native filature silk, or sound and heavy corahs
in the market. The result of the public sale of piece goods
in London is very unsatisfactory and bad for low corahs,
and the immense stock of such quality which is in the
market here does not attract any buyers, and is almost un-
saleable. The exports, moreover, of both raw silk and silk
piece goods continue very small. In sugar, purchases have
been very moderate, but prices have continued steady, the
exports consisting principally of purchases made before
the arrival of the last mail. Saltpetre is now cautiously
touched, and prices have given way; in some instances we
notice a fall of about Ito rupees a maund. The business
done in this staple, moreover, for America has been rather
limited. Jute has been in less demand than it was a fort-
night ago, though the supply in the market is very small.
There is no desire to operate in rice, though freights are
much lower now, as the accounts from home are rather of
a discouraging nature. We have had almost nothing doing
either in lac dye or shell lac, both which articles do not
seem to attract attention for the present. Safflower is not
much inquired for; the market is now well supplied, but
a moderate business only has been done to this day. Cutch
is not wanted for Great Britain, but it is saleable in small
quantities at a slight advance. The demand for hides has
been partially checked since the receipt of the last London
mail, and but few parcels have found purchasers of late.
Castor oil has been in fair demand, and higher prices have
been paid.
But a moderate amaunt of business has been done as far
as our import market is concerned. For British piece
goods the demand is very slack, dealers keeping themselves
back and offering much lower prices than holders are in-
clined to accept. An improvement, however, is looked
for shortly, unless the present stocks increase by heavy
arrivals. Grey and white shirtings, though selling in
moderate quantity, have given way in prices from 2 to 4
annas, and in some instances a reduction of 6 annas has
been submitted to for low descriptions. Jaconets are
neglected, and dealers would not take them unless at heavy
reductions, which holders do not seem inclined to accede
to. Madapollams are a shade lower and in moderate en-
quiry. Lappets have declined considerably, yet there does
not appear to be a good demand for these, as also for grey
and white mulls. Very little has been done in book mus-
lins, and as to printed and coloured goods little demand
exists. Mule twists, however, have been improving, and
a fair business has been done at full prices both in these
and in coloured yarns, which are looking up.
We have no improvement to notice in metals, with the
exception of copper, which has advanced a little. Holders
are firm, and the stock is not large.
Our Money Market continues unaltered, but Government
Securities are looking down. The following are the exist-
ing rates :
Transfer Five per Cents., re. 3 12 prem. ; Old Sicca
ditto, rs. 2 8 per cent. to rs. 3 clis. ; Company's rupees,
Four per Cent., rs. 1 8 per cent. to re. 1 12 dis. The share
market stands as follows :—Bank of Bengal Shares, rs.
6,475 each • Agra and United States Bank, rs. 690 each ;
North-Western Bank, rs. 300 to 305 each ; India General
Steam, rs. 995 to rs. 1,000 each ; Assam Company, rs. 190
to rs. 200 each; Bengal Coal Company, rs. 1,550 each;
Bonded Warehouse, rs. 315 to re. 325 each ; Calcutta Steam
Tug Association, rs. 1,000 each.
Opium.—The market has been rather steady during the
past fortnight, and a great number of chests were sold out
of the bazaar to the shippers, large shipments have been
going on and the stock of sold opium left in the warhouse
is not large.
Exchange has a downward tendency. We quote six
months' sight paper :—Bank bills at is. 11d. to 2s. per
Co.'s R. ; first-class credits at 2s. id. ditto ; documents at
2s. id. to 2s. 6d. ditto. On China business was done after
the sale at 245 Rs. per 100 dole. per 60 days' sight Opium
documents. No transactions on Singapore.
Freights—Since ethe arrival of the last mail the rates
have been gradually declining, owing to the inactivity dis-
played by shippers, who appear in a manner paralysed by
the unfavourable accounts received from home, and, more-
over, in consequence of the scarcity of produce in the ba-
zaar. There is now a fair supply of tonnage in our port,
but the demand has given way considerably. Our rates
to London and Liverpool are much lower than those ruling
a fortnight ago. Those, therefore, who have been char-
tering ships to arrive at 71. 10s. to Si. per ton, with the
hope of realising a profit will no doubt feel very anxious
at this moment as to the result of their speculations, since
it is almost certain that we will have a fair influx of ship-
ping during the next three months, it being expected that
ships from different parts of the world, induced by the
high rates of freights which have been prevailing here for
some time past, will direct their course towards our port
in the hope of finding a profitable employment. It is diffi-
cult to calculate, with any degree of certainty, as to the
changes that will take place here, but we do not hope to
see again this year freights ruling as high as 101. for Lon-
don. For Mauritius the rates have not decline much, but
shippers appear unwilling to offer more than rs. 2-14 to 3
a bag, and it is a question if these quotations even will be
maintained

Indigo.—We have had almost nothing doing here, and
our exportlist shows but a small quantity cleared for ship-
ment during the fortnight. The prospects of the coming
season are growing more and more unfavourable, caused
by the unusually heavy rains with which Lower Bengal
has been visited this year.

CHINA MARKETS.
(From the Overland China Mail of 22d June.)
CANTON MARKET.
IMPORTS.

Cotton—Raw.—Considerable arrivals having taken place,
holders have accepted lower prices, and the sales have been
6,000 bales Bombay and 400 Bengal. The following are the
quotations :—Bombay 5.0 to 5.2, 5.4 to 5.9, 6.2 to 6.4 ;
Bengal 4.9 to 5.2, 5.4 to 5.8, 6.1 to 6.4 ; Madras 5.3 to 5.5,
5.7 to 62, 6.4 to 6.6. Stock of all kinds 47,300 bales,
against 74,600 last year.