The Sun.
London, England, 1854-02-15 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday
were estimated at 8,000 bales, of which 1,000
American and 1,500 Surat were taken for export
and on speculation. The market closed without
animation, especially for Surat. American and
Surat were a point against the buyer. All other
kinds firm. The sales comprised 4,000 American ;
100 Bahia, at 6d. ; 300 Egyptian, at 61c1. to 10id. ;
and 3,000 Surat, at 2d. to W. per lb. Railway

Shares were firm.
The progress of the indigo auction up to last
evening is described by Messrs. H. W. Jewesbury

and Co., as follows :
" The sale went with rather more spirit to-day for
middling to good quality Bengal; but there is no
alteration to notice in ordinary sorts. Madras and Kur-
pah also remain without change. 1,415 lots have passed
to-day, of which 761 have been withdrawn, 214 bought
in, and 440 sold. Last lot, 6464.'
The letters and papers by the steamer Great
Britain have been in course of delivery throughout
the morning, the mail being exceedingly heavy.
The following is an extract from the account of the
Melbourne markets, as furnished by Messrs. Rucker
and Co.:—

" We have now enjoyed five to six weeks of fine wea.
ther and the roads into the interior having become practic
ableagain, in consequence large quantities of goods ofevery
description are leaving Melbourne daily for the gold-
fields and other parts of the country—an indication of
considerable business ; and the effect upon our accumu-
lated stocks being a corresponding reduction. There
are still numerous complaints of dulness to be met with,
but they must be ascribed rather to the vast number of
persons engaged in and dividing the trade of this city,
and to the fact that a large proportion of our stocks are
goods of inferior quality, or otherwise unsuitable to the
market, than to any want of buyers of goods judi-
ciously assorted. We have ourselves placed goods
to a heavy amount, during the last month or two,
at from 35 to 50 per cent, advance on invoice prices,
according to the bulk of the articles, which our friends
will agree with us in regarding as tolerably satisfactory
rates ; and we have hitherto felt assured of a brisk sum-
mer trade on yet better terms. With a feeling of pro-
portionate disappointment, therefore, we gather from
our last advices the possibility of a fresh inundation of
goods on the strength of the May accounts, which ap-
pear to have reached England from this colony in August.
It is much to be regretted that the majority of shippers
to this colony, when receiving advices of a scarcity here,
appears so completely to neglect a reference to their
shipping lists for the preceding three to six months, as it
would in all probability show them, that a more than
sufficient supply was at that moment already on its way
to us. We now only hope, that the Juno and July
advices from this colony will have had the effect of allay-
ing the excitement reported to us by the Overland mail
in time to prevent any great excess of shipments."
We may add to the above instructive particulars,
what has come to our own knowledge, viz., that
there is a great loss upon a large quantity of goods
which even reached Melbourne and were sold there
as early as June last, when prices were much
higher than they have been since, owing to the
enormous rates of freight .and charges, and the
dearness of the articles at first cost in England.
The following from a Sydney journal throws a
fresh light upon the motives of the French govern-
ment in taking possession of New Caledonia :
" New Caledonia is about 900 miles east of Australia.
It was discovered by Cook, in 1774. It is 260 miles
lone. and 70 miles wide. Its chief productions are yams
and The natives are mild, and very skilful in the
cultivation of the soil.
" We have reason to believe that the immediate ob-
ject of the French Government is to establish a penal
settlement on the island ; but coupled with the sys-
tematic extension of French influence over the So-
ciety Islands, the Pomotou Group, and the Mar-
quesas, this occurrence assumes a great importance
in a political point of view, and is indicative of well-
considered designs on the part of the French Empe-
ror. We shall return to the subject more at length
to-morrow, but we cannot refrain from expressing our
deep regret that, by the laxity of the British Govern-
ment, notwithstanding the repeated and earnest repre-
sentations which have been made to it, both from the
Government of the colony and from commanders of her
Majesty's vessels who have visited and explored the
islands of the Western Pacific during the last few years,
as to the immense importance of New Caledonia in re-
ference to the Australasian dependencies, the opportu-
nity of colonising that fine group has been lost. That
regret is enhanced by the consideration that after all
our struggles to get rid of the withering curse of con-
victism, after the bitter differences which had arisen
between the colonies and the mother country have been
happily reconciled by the total abandonment of transpor-
tation to these shores, a convict settlement should be
formed by a powerful foreign nation in our immediate
neighbourhood, and on the high road of communication
between Australia and the important marts of commerce
to our northward and eastward, China, California, and
the west coast of America.
"In a commercial point of view, the colonisation of
New Caledonia, even by the French, may appear at first
sight advantageous to the interests of this city ; but such
a consideration is entirely secondary in importance, and
sinks into insignificance by the side of the moral, social,
and political consequences attached to the occupation of
one of the most splendid islands in the Pacific by a rival
nation, whose aims and objects are so dissimilar, not to
say opposite, to those which have for many years been
earnestly contemplated by the most intelligent colonists
of Australia and of New Zealand."
The advices from the West Indies are of no par-
ticular interest. The parties appointed by Mr.
John Taylor and Mr. G. S. Airey, to inquire into
the Metcalfe Mine affair, had reported, at con-
siderable length, but it is impossible to say pre-
cisely whether it justifies former expectations, or
the reverse. There is mention of numerous copper
deposits, but the value of them seems scarcely to
be estimated, and the reporter chiefly describes
what he saw, rather than forms an opinion thereon.
There was a slight decline yesterday afternoon
in the rate of exchange on Trieste, but an advance
on Hamburgh.
The rest of the gold per Ballarat has been pur-
chased for shipment to the Continent.
At the meeting this day of the British Colonial
Bank and Loan Company, there was a dividend
declared at the rate of 2i per cent. on the whole
of the shares.
A very unsatisfactory change has come over the
English Stock Market, and the Speculators for a
fall having been enabled to carry over or close,
there is a want of support to prices. It would
now appear that the answer to the letter of the
Emperor of the French has been received, and
that it is unfavourable ; at least, report so states,
and Consols have felt the decline in the French
Funds, and are one per cent. under the highest
prices of yesterday, having been 91i f, and since
91 to 91i for the 16th March. The New 31 per
Cents. have been 94, and since 921. The 3 per
Cents. have been marked. 94, and are now 921.
East India Stock is worth 232. Exchequer Bills
are 17s. to 205., and India Bonds 7s. premium.
Foreign Securities have been inanimate. Mexi-
can Bonds have been dull at 25f, and Sardinian at
85k- to 1. French 41 per Cents. have been quoted
97 50, with the Exchange 25. Dutch 4 per Cents.
have been at 92k.
BRITISH MINES.--A fair amouit of business has
been done this day in the following mines :—Polti-
mores, 11; Alfred Consols, 24j 25 ; Great Alfred,
32 33 ; Molland, 9s. 6d., 10s. 6d. (all buyers) ;
Tremollett, 7s. 6d., Bs. 6d. ; North Pool, 195 200 ;
Arundell, 11 ; Great Crinnes, 30s. to 355.; East
Basoons, 1 # ; South Devon Great Cons., 20s. to
225. 6d. ; Kilbricken, 325. 6d. to 355. ; East Rus-
ton, 5 1.
The current prices for the Jamaica Mines not
officially quoted are as follows :—Metcalfe, g to
premium ; Sue River, k discount to par ; Port
Royal, # to # premium.
Ague, Fria Shares are a little firmer. In the
other Gold Mines there is nothing doing.
The Joint Stock Bank Shares have been sup-
ported at the previous rates, and Land Companies'
Shares rather tend upwards.
In the English Railways the decline is about
per cent. in some lines, but the market is buoyant
upon the whole, and in Great Northern A stock
there is a further rise of 11. North Western also
are good, but Midland lower, and Great Western
are cheaper. French Shares have been all flatter.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(From the Official List.)
Business done.
3 per Cent. Reduced Annuities 92' 1 i
3 per Cent. Consols Annuities 9ll *
New 3i per Cent. Annuities 93 WI 31 3
India Stock 232
India Bonds, £lOOO ... ...... .......
4/oitto, under £lOOO lO p
South Sea Old Annuities lOl
Consols for Account 16th, March
Exchequer Bills, ld.
£IOOO
£5OO l7 20 1 p
Small l7 20 1 p
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent. 99
Mexican 3 per Cent.
Peruvian Bonds, 4:1 per Cent. —
Ditto 3 per Cent
Sardinian Bonds, 5 per Cent.. ...... .... .
Spanish Committee Cert. of Coup. not fun 4 p c
Dividends onithe above payablelin London. -
French Rentes, 44 per Cent.
Match Exchange, 2k per Cent. 12 Gull
Ditto 4 per Cent. CortifleAtes .
TIIRR E O'CLOCK.

Consols 9ll '1
Ditto March Account 9li I

MR. FLEXMORE'S BENEFIT.—This celebrated panto-
mimic artist takes his benefit at the Strand Theatre to-
morrow (Thursday) 'evening, when his patrons are cer-
tain to muster in formidable array. As this is the final
week of the pantomime at that house, it will be all but
the last opportunity for smirk time to come of witnessing
the admirable performance of " the Clown of Clowns.",