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

THE SUN, LONDON. TUESDAY EVENING, JUNE 6, 1854

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 15,000 bales, including 5,000 taken
for export and on speculation. The market closed
with an upward tendency at an advance of 1-16 d.
for American ; other sorts without alteration. The
sales comprised 12,500 American, 250 Pernam and
Maranham at 6d. to 7/d., 320 Bahia at 6d. to 6/d.,
200 Egyptian at 6d. to 7/d., 800 Surat at 21d. to
3id., and 40 Sea Island at 10d. to ls. 4d. per lb.
Railway shares were steady.
In reference to the Tallow market, it is stated
by Messrs. P. J. Smith and Charles that the trade
are now buying
conjointly with the bears, and
higher prices than those from which the market
was precipitated may therefore be expected. Poli-
tical facts remain much as they were when we were
705.; and, the difficulties of getting tallow overland
are beg-inning
doing this has actually arrived. St. Petersburg,
to be felt, now that the time for
15th (27th) May—Exchange, 36. No business
doing, because conveyance cannot be procured.
Accounts from Antwerp state that there were
four American vessels of 3,741 tons, besides
Belgian ships,
grants. Complaints are made of the town having
preparing to leave with 3,700 emi-
been inundated with the circulars of a Banking-
house, at Frankfort, announcing the sale of lottery
tickets at Frankfort on the Maine. These being
posted unpaid, are charged 20 centimes, and have
occasioned great annoyance to the recipients. At
Ghent the same proceedings have been adopted.
.Accounts from Thielt state that there had been
a fair sale for cloth goods at that place on the Ist.
inst. The railway between Erquelines and Ham-
mont is expected to be opened 16 kilometres before
the end of the present year.
It is stated in accounts from Canada that Sir
George Simpson, Governor of the Hudson's Bay
Company, has concluded a treaty with the autho-
rities at Saha in charge of the Russian fur trading
posts on the Pacific side of the Rocky mountains,
Iby which both parties agree not to allow hostile
depredations between their respective subjects.
This convention is not to prevent the belligerent
nations from attacking either settlement—indeed,
the British Government has already notified to the
American Minister of the intention of the allied
powers to blockade all. the Russian ports in the
Pacific.

The value of the goods paying duty imported at
the Port of Toronto during the quarter ended sth
April was 157,121/. 6s. 10c1. The value of free
goods imported during the same time were 1,4731.
2s. ld., rzad of the exports, 28,0461. 15s.
From the Bahamas islands we learn that marine
disasters were very frequent along the coast during
the late severe gales, and it was estimated that in
the space of a fortnight ending in the middle of
April, about 000,000 dollars worth of wrecked pro-
perty had been cast on shore, and that at least 200
wrecked seamen had been located atNassau during
the disastrous period.
The appearance of the Money Market within the
last two or three days is more reassuring, and the
anxioc/ respecting the renewal oF the Exchequer
Bills-now due is set at rest, as the amount for
which money has been demanded, cannot, under
' 61,0 circumstances, exceed a few hundred thousand
pounds, and, with the existing buoyancy in stocks,
this can be speedily replaced by sales in the open
market. It would be too much to assort, however,
that cash will become abundant or cheap, since the
activity of our war movements and the continued
large imports of grain must have the effect of draw-
ing away a good deal of specie. The rate of ex-
change iu China is still so far against us that
we send away silver freely, and the favourable set-
offs will, perhaps, merely suffice to keep our bullion
tolerably ilk equilibrium. Large sums, for example,
$t owning over from -the United States, and the
nlPortatian iesiterclay yon that country and the
jaPitnith American Colonies, was equal to 500,0001.
With upwards of 1,200,0001. known to be on the
way from Australia, we shall be prepared to meet
some of our liabilities, and yet be none the poorer
thau Atc.vresen,t, but it will be of still greater im-
PertaLice:that the rates for foreign Bills of Exchange
should be maintained as they have been of late,
and that our large expenditure in Turkey should
induce the Ottoman merchants availing themselves
of English Commissariat Bills, to extend their
purchases of Manchester goods. The Ottoman
army must require these, and the facilities
for their obtainment are greater than ever,
now the inhabitants are receiving large sums in
ready money for grain and cattle furnished to the
allied armies.
There has been a further important rise in public
securities, the market being completely wild, and
the Bear party in a state of panic, owing to a large
failure. Consols opened at 93 to 931- for money,
and have since been done at 94, from the cause
stated. For the account, the 19th of July, they
have been 93* and subsequently 93 and 92g.
These quotations will, without a word of comment,
sufficiently illustrate the perturbed state of the
market. Such a heavy account for the Bears
has not been settled for many years, and
to this, quite as much as to any chango
iu the money market or any improvement
in the aspect of political affairs, must we attribute
the constant advance. The price of Consols at one
period yesterday afternoon, had sunk to 92g, and
they rallied to 92i and 93, although the Bank of
England lent a considerable amount of stock. The
New Si per Cents. have been 93 and 92, and flint 3 per Cents. 921 and 91i. When the account 'is
fairly settled, we should not be surprised if a fur-
ther decline occurred. Bank Stock is worth.. 204
to 206. Exchequer Bills are Is. to ss. premium.
The Committee of Mexican Bondholders, have,
by the Avon, received advices from Mexico of the
24, and from Vera Cruz of the sth ult.. The re-
mittance for account of the dividend. from Vera
Cruz is $45,000, and at Tampico, on the 29th of
April, $lB,OOO were waiting for shipment. From
Mazatlan $3,241 had, on the 13th of April, been
sent on to Panama,.

Mr. Falconnet -writes, on the 2d of May, that
they had no official intelligence from the President
since the 19th of April, but the Charleston Courier
has advices from Mexico of a later date, stating
that the President had taken Acapulco and restored
the commrmication between his army and the
capital.
Foreign Securities have been nearly all at full-
rates. Spanish Threes 41 to 414, and Portugue:s.e
4 per Cents. 42: Mexican Bonds are at 24i, 'and
Grenada Deferred at 61
Railway Shares have been generally higlyer, with
moderate transactions.

The annual meeting of the Bank of British North
America took place this day, at which a very en-
couraging report was read, showing the profits of
the year 1853 to have increased 45 per cent. over
those of 1852. All the reports stated the colony
to be in a very nourishing state. The nett profit of
the year was 100,650/. 17s: 10d. From the undi-
vided nett profit of 125,3491.105. the directors now
declared a dividend for the half-year at the rate of
6 per cent. per annum, with a bonus of 255. per
share in July next. The report was adopted.
Crystal Palace shares are a shade better.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( Prom the Oirceica List.)
Rosiness done.
Bank Stock

3 per Cent. Reduced Annuities 9ll 21 1 22
3 per Cont. Consols Annuities 932 3 4 3i 4 3i
New 31 per Cent. Annuities 921 h 3 21 1 2 k 2
Long Annuities, Expire sth Jan., 1860 ... 4 9-16 1146
Ditto 30 Years, Expire 10th Oct., 1859.... 4 6-16
India Bonds, £lOOO

Ditto' under £lOOO
Consols for Opening 19th July
Exchequer Bills, 24d.
£lOOO

£5OO 1 5 p
Small
Exchequer Bonds-Scrip
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Danish Bonds, 1825, 3 per Cent
Ditto 5 per Cent ....

Grenada gouda, Deferred
moxican 3 per Cent.
Peruvian
51. Bonds, 4} per Cent. 6B
Ditto 3 per ent
Portuguese Bonds, 4 per Cent 42
Spanish Bonds, 3 per Cent 4 i A 1
Spanish New Deferred, 3 per Cent,. 2Ol i
Ditto Passive (Converted)
Venezuela Bonds, 3A por Cent. .........
Dividends on the shove payable in London.
Dutch Exchange, 2i per Ccut. 12 Guil
Ditto 4 per Cont. Certificates ....

.4tA ZP-P AST TWO,
consols 934 a
Consols for Opening 19th July

14 AT EST FOREIGN NEWS.

THE WAR.

THE LAST DESPATCH FROM VIENNA.
VIENNA, Tuesday Morning, 10 o'clock.—The
telegraphic despatches from the Danube are con-
tradictory. The following is probably correct :
Towards the end of May, 5,000 Turkish horse
took the Russians by surprise at Turnu.

Only 107 of the latter escaped to the left bank of
the, Aluta.

General of Division Baumgarten has been miss-
ing ever since the affair.
In the attack on Silistria on the 29th Lieutenant-
General Sylvan was killed, and Count Orloff shot
in the eye.

On the 30th, at 4 in the morning, the Turks
made a sally, and a fearful massacre took place in
the Russian entrenchments. Many of the be-
siegers' guns were spiked.

It is calculated that the Russians have lost 8,000
mon on the Danube since the 20th of May.

SIEGE OF SILISTRIA.

Russian accounts received in Vienna describe
the engagement at Silistria on the 29th as " a
fresh and vigorous attack by 30,000 Russians," but
they admit that the assailants were repulsed with
a loss of 3,000 men. The eldest son of Count
Orloff was among the slain.

The Cologne Gazette gives a letter from Vienna
of the 31st ult., of which the substance is as fol-
lows :—" The brave Mussa Pacha of Silistria has
found a disinterested ally in the Danube. The
river has inundated the islets occupied by the
Russians, compelling them to decamp without
their guns, which are now under water. The same
generous ally has invaded all the mines made by
that skilful engineer officer General Luders, and
it has swept away the bridge of boats they had
formed at Kalarash. The siege is therefore raised
on the river side ; and as the mud made or left•by
the stream will take time to harden when the
waters go down, it. will be more than three weeks
before operations from those islands can be recom-
menced."

The correspondent of the Vienna Wanderer, who
was at Kalaraseh on the 21st, writes :
" About noon the Russians crossed the Danube half
an hour (an English mile and a half) below Kalarasch,
and immediately began to construct entrenchments and
mines. After having fruitlessly bombarded Silistria
during five weeks,
Prince Paskewitsch has convinced
himself that the fortress cannot be taken by storm with-
out a sacrifice of 20,000 or 25,000 men. As a conse-
quence of this General Schilder's plan for destroying
the fortress by means of mines has been adopted
7iilistria has not high walls, but between their double
lines there is a space completely filled with earth, as is
the case at Vienna. The outer trenches are very
sleep, and at a distance of 200 or 300 paces from them
flows the Danube. At this spot the river is extremely
deep, and the current so strong that the formation
of a bridge is entirely out of the question ; besides this,
everything that time Russians might construct here
could easily be destroyed by the guns of the fortress.
Nothing is, therefore, to bo doe; but to carry on the
siege from the south-east side of Silistria but even that
position is commanded by tle^ guns of the new citadel,
at which the Turks have been building these seven
years, and of the batteries which are placed below the
coffee-house. Prince Gortschakoff is regularly en-
camped on the right bank of the river, but the Prince
of Warsaw returns at night to ICalarasch. Lieut.-
General Luders, who came here two days ago, is sick.
It is not known whether Grothenhjelm or Engelhardt
will take the command in the Dobrudscha, during his
absence. I have counted 56 Russian generals in Kala-
rasch, and can, without the least exaggeration, say,
that 100,000 men are encamped there,"

The report that Mussa, Pasha had yielded to the
"persuasion" of Russia, was a vile calumny, for
the gallant soldier is resole ed to hold out to the
last. If the fortress does fall, the victory will
have been so dearly bought that the Russian army
will have no cause to congratulate itself. It is con-
sidered good policy to let the Russians exhaust
their strength and energy before the walls of
Silistria. The present position of Omer Pasha
is the best he can have both in a strategical and
political point of view. If Silistria falls, and the
Russians should advance towards the Balkan, they
have no chance of success. The Court ofBt.Petersburg
is, however, now only intent on saving its honour,
and, therefore, when the fortress is taken, we shall
probably hear that it will propose to evacuate the
Turkish provinces on certain conditions. If, on
the contrary, Silistria should not fall, Russia can-
not make a retrograde movement without leaving
an irradicable stain on its military reputation. As
to the negotiations for a capitulation, they appear
to have been neither more nor less than a demand
on the part of Mussa Pasha, that the unarmed in-
habitants and the irregular troops might be per-
mitted to quit the fortress without molestation.
From the preparations made by Mussa Pasha and
Meheined Bey, the chief of the engineering de-
partment, it is evident they have no idea of sur-
rendering.

vented our operations on a grand scale. These
winds and fogs furnish a ready reply to any ques-
tions that may be asked in Parliament.

RUPTURE BETWEEN SWEDEN AND
RUSSIA.

There was a report in Paris about the Court that
the Swedish squadron had received orders to com-
bine its force with the allied fleets in the Baltic,
and that tho Swedish Minister at St. Petersburg
had demanded his passports.

LOSSES SUSTAINED BY THE RUSSIAN
ARMY OF OCCUPATION.

" The Russian army," says the Moniteur de
Armee,—
" Has suffered considerable losses since the opening
of the campaign, not only on the field of battle, but also
by disease. Wo long predicted tnat unavoidable result
of the sojourn of that army in a damp and marshy
country. Some journals have described the plan of
operations agreed upon by the Generals and Admirals of
the allied land and sea forces. They even assign to each
the post which he is to occupy. We doubt the correct-
ness of their information. Such decisions generally re-
main secret, and it is only by accomplished facts that
they become known to the public. The only inference
we can draw from the relative position of the armies is,
that the situation of the Russians is by no means re-
assuring for the General in command of them, and that
we are on the eve of important events. The co-opera-
tion of the European Powers most interested in the
question, and the moral support of those which are
either unwilling or unable to take an active part in the
conflict, are secured to England and France, and it is
accordingly to be hoped that the struggle will be prompt,
vigorous, and decisive."

CONVEYANCE OF TROOPS TO VARNA.

The Journal des Debate says :
" The number of transports of every kind col-
lected for some time past in the waters of the
Bosphorus of the Sea of Marmora, admits of no
doubt that a considerable body of troops can be
conveyed at once, and be landed at Varna in three
or four days after their departure. From that
place, eight or ten days' march. could, if required,
bring the troops to Silistria. It is not improbable
that before long we shall receive important news."
The following is an extract of a private letter
from a gentleman who accompanied Marshal de
St. Arnaud from Constantinople to Gallipoli, on
his return from Varna. It will be seen that
Marshal de St. Arnaud has gone to Gallipoli, to
hasten the march of the French army, and that
the utmost exertions are now being made to get
the whole of the allied armies up in time to re-
lieve Silistria, and to prevent that important
place from falling into the hands of the Russians
" Gallipoli, May 2d.—Marshal de St. Arnaud, who
left Yeni-Kioi last evening, on board the Berthollet
steamer, which was placed at hisdisposal by the Ottoman
Government, arrived here this morning. His object in
coming is to hasten by his presence the departure of the
troops for Varna. The squaron under the command of
Admiral Bruat, which is in the roads of Gallipoli, is imme-
diately to embark the first division of the French army,
under the command of General Canrobert ; and the second
division, which is under the command of General Bosqu,.l.
The third division, which, as you are aware, is under
the command of Prince Napoleon, is to proceed to Con-
stantinople by land. It will proceed by easy marches
along the banks of the Sea of Marmora. The orders
given are, that the troops shall not be over-fatigued, and
that their roaches shall not exceed four or five leagues
per day. It is thought they will arrive at Constanti-
nople on the sth of June ; but they will remain in the
capital only for a short time, as the intention is that they
shall follow their comrades by sea to Varna, as soon as
the necessary number of transports can be placed at
their disposal. The brigade of cavalry, under General
d'Allouville, the military equipments, the train of artil-
lery, and the medical stores, will take the route by
Adrianople towards the Balkans. They will not be able
to join the rest of the army before the 15th or 20th of
June."

Other letters state that since the visit of Mar-
shal de St. Arnaud to Schumla, he has expressed
great admiration of Omer Pacha, and confidence
in his talents and energy as a general ; but as
respects the Ottoman army, he found it in the
most deplorable condition, and wanting all the
necessaries for a campaign. A division of the
English army was to embark at Scutari on the 26th
of May for Varna, while the French army was to
proceed to the seat of war, partly by Adrianople,
and partly by Constantinople and Varna. Both.armies were still in great want of artillery ancr
cavalry. Up to the 25th the English and French
armies united could not muster between them more
than forty pieces of field artillery fully equipped,
iii
which would not be suffi ' ' or an army of 20,000
men. At Constantinop general feeling was
that Silistria must fall, at Omer Pacha could
not succour it, and the English and French armies
would arrive too late. #,,

CRIJSA DE AGAINST NEWSPAPERS IN THE

EAST.
It is understood, says a Constantinople letter, that
the commanders of the army have expressed their
determination to have no reporters in the camp.
The French have in a manner ousted the repre-
sentatives of their own press ; it is thought that
the English generals admire the practice, and think
it worthy of imitation. Vague assertions like these
give rise to the most malicious remarks. It is said
that our generals are afraid of publicity, and re-
solved to tolerate no reports of their doings, ex-
cept such accounts as it may suit them to send
home. These rumours we mention chiefly because
they have obtained a degree of credit which they
certainly do not merit. The officers who command
this expedition would ill-deserve, and certainly
forfeit, the confidence of the nation if, as chiefs
of a muzzled profession, they were to remove from
the scene of action the half-dozen gentlemen whom
the great journals of England have commissioned
to report the incidents and fortunes of the cam-
paign. There could be but one explanation
of such a measure. Its authors could plead
no colourable excuse in its favor. For to say
that reports sent from Adrianople and the Da-
nube, and published in the London journals,
would inform the Russians of our movements, is
a flagrant absurdity, of which none but the igno-
rant in military affairs can be guilty. It is quite
as absurd to say that the presence at head-quarters
of half-a-dozen civilians would impede the move-
ments or shorten the provisions of the soldier. Half-
a-dozen men neither occupy whole villages nor do I
they devour the substance of the provinces in
which they abide. But the half-dozen men whose
expulsion and removal from the scene of action is so
lightly talked of, represent, in the present instance,
the millions at home who with anxious hearts
watch the fortunes of the war. They represent
the failing hearts; the sick with hope and anxious
thought; the parents, brothers, sisters, wives, and
brides, whose hopes, whose wishes, and whose fears
hover over the broad expanse of the British camp.
To remove the public correspondents would be to
withdraw from these the most legitimate, the most
sacred subject of interest, and give them in its stead
the obscure phraseology and tardy and partial pub-
lication of an official despatch.