The Sun.
London, England, 1853-04-05 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, TWO O'CLOCIt.
The sales of cotton at Liverpool yesterday
were estimated at 8,000 bales, of which 2,000
American were taken for export and on specula-
tion. The market closed tamely but firmly. The
sales comprised 7,000 American, 250 Pernani and
Maranham, at 6d. to 71. d. ; 1,000 Egyptian at
6d. to 10d. ; 300 Surat, at 3d. to 41d. ; and 20 Sea
Island, at ls. 9d. to 2s. per lb.
Railway Shares were dull at
.steady p ices.
The railway meetings announced are the fol-
lowing :

Company.

Aberdeen
Dijon to Besancon
Grand Junction of France
Lyons and Mediterranean,
Manch., Sheff., and Line ,
North of France
Paris and Lyons
Paris and Strasbourg
Redruth and Chasewater

Date. Place.
April 19, Aberdeen.
April 18, Paris.
April 30, Paris.
April 30, Paris.
April 13, Manchester.
April 30, Paris.
April 7, Paris.
April 28, Paris.
April 9,6, Queen's-st.-pl.,
U. Thames-st.
April 30, Jardines.
May 12, London Tavern.
April 7, 61, Moorgate st.
April 19, Bruges.
_ _

Sambre and Meuse
South Yorkshire
West Flanders
Ditto ...... -

One of the questions that of late has excited con-
siderable interest, is the probable supply of food to
our Australian possessions, and perhaps some idea
may be formed of the probable course which the
supply and demand will take by what has occurred
in California. For a considerable period provisions
in the latter country were rather scarce and dear,
and great fears were entertained lest there should
be serious inconvenience felt. High prices, how-
ever, have had the usual effect of bringing forward
larger quantities for disposal, and at the latest date
in February the imports of flour and grain at San
Francisco had been very large. This was bringing
the rates down a little more than the average pre-
vious to the speculations and advances of last June,
and in no other similar period, since the country
was ceded to the United States, has the fall in the
prices of the staple article been so great as in flour
during the first fortnight in February. Perhaps
this arises not so much from the low prices in-
variably resulting from the other extreme. The
result, in any case, must prove beneficial to the bulk
of the community who have been distressed by the
scarcity and dearness of the necessaries of life.
Barrelled flour was 'selling at 12 to 13 dollars for
choice brands. The stock of domestic barley was
abundant, both for seed and consumption, and
large arrivals were expected from South American
ports. Oft:s were being also regularly intro-
duced in almost e Tery vessel, either in direct ship-
ment or as packing material.
The strong feeling of disappointment which
some partiet express at the delay in the granting
of Charters to Australian Companies, requires to
be met by a few remarks in explanation. Every
letter from the Colonies shows us that there is a
determination to have the full control of financial
matters, and to as great an extent as possible
the administration of political affaila also. The
colonies feel their power and /o-adly complain of being
ruled at a distance of 16,000 miles upon even their
local matters. It could not be expected, there-
fore, that they would view with favour the indis-
criminate granting of charters to every company
that applies for them. Accordingly, the Select
Committee of the Legislative Council of New South
Wales in its report upon currency and banking,
emphatically request the Home Government not to
grant any more charters. It would appear that
some general banking law is contemplated, and that
the manner in which the older establishments have
realised their enormous profits, has given occasion
for jealousy and opposition. It does not follow,
however, that new banks cannot on this account
be established by English capitalists. The only
drawback is, that reference must be made to the
Colonies, and this is fully expiessed in the follow-
ing official communication from the Board of
Trade

k" Office of Committee of Privy Council for Trade,
Whitehall, Ist April, 1853.

"Gentlemen,—With reference to the petition for a
charter incorporating the —, and which petition has
been referred by her Majesty to the lords of this com-
mittee for their consideration and report, I am directed
by the Lords of Privy Council for Trade to state to you
that my lords have forwarded the petition and draft
charter to the Colonial Department for the consideration
of the Duke of Newcastle, in order that, if he should
think fit, his Grace may communicate with the governor
of the colony to which the charter relates with reference
to the incorporation of the proposed company ; and I
am to suggest to you that the promoters of the
company should address to the Colonial Department any
communication which they may be desirous to make
upol the subject, and any observations which they may
desire to Lave forwarded with the draft charter, for
the considelat'on of the Governor of the colony.—l am,
gentlemen, your obedient servant," &c. &c.

The terms here are sufficiently unequivocal, and
tally precisely with the declaration of our Colonial
Minister, made a short, time back in Parliament.
It has been industriously stated, however, that
there are exceptions to this refusal, but we may
mention, upon the best authority, that the circular
notice was forwarded to the three following banks
on Saturday last :—Chartered Bank of India,
Australia, and China ; London Chartered Bank of
Australia ; Royal Australian Banking and Gold
Importing Company.
It may be fin Cher stated that the Chartered
Bank of India, Australia, and China was refused
as far as India is concerned in tho month of Dec.
last, and that the application for the Australian
Charter was responded to in the negative, as above
mentioned.

The Australian Consols Mining Company intend
to remodel the concern, having introduced several
new directors, and contemplating a disposal of
their landed property to eligible patties. The capi-
tal hereafter will consist of the following :

Shares.
Original shares of 11
each 60,000
New shares of 1/ 40,000
Free 1/. shares to the

Shares.
To be .onverted into
new 51. shares 12,000
To be called CI. shares 8,000

original holders,
without further

payment 200,000

To be made 51. shares 40,000

'Total ofnew 51. shares 60,000

This represents a total capital of 300,0001., and
any bonus arising from the sale of the lands will
belong to the shareholders. As to the new issue
of shares (the 8,000), they, it is expected, will be
readily taken up by parties connected with the
company, and will not be issued before the free
shares are distributed to the holders of the original
shares'.

The English funds have been dull, and there has
been less buoyancy in prices. Some discussion has
arisen as to the meaning of the Chancellor of the
Exchequer in reference to the Consolidated An-
nuities Bill, and some imagine that the purchases
for the Sinking Fund will not hereafter be made
from the Commissioners' box. Exchequer Bills of
March are 7s. to lls. premium.
Foreign Stocks are well maintained still. Mex-
ican have been as high as 27i and 28. Grenada
are at 23k, and Peruvian Deferred at 63k. Spanish
New Deferred have been at 24/. The Turkish
Loan is 2 to 21 premium.
The Gold Mine Shares have been inactive,_ and

the order from Sydney to sell freely of the Great
Nuggett Vein, instead of sending them over for
the disposal of the shareholders, causes them to
idle very heavy. This is precisely what we anti-
cipated at the time these shares were introduced
into the London market, and every word we wrote
upon the subject has been confirmed. A more fal-
lacious and rotten system than that of issuing
Colonial shares at a high premium, cannot be con-
ceived. The accounts received by the Port Philip
Company are not very favourable, and the Colonial
Gold was dull.
In the Joint Stock tank Shares there is a further
decline, principally upon the Australian Companies,
whether those which have already got their char-
ters are subject to modification we cannot officially
state ; but it is so reported, and it really seems as
though some power of the sort would have been re-
served by Government.
The railways are quite neglected, but are rather
firmer in some instances. The foreign lines are in
more demand, and large purchases have been made
in Upper India at prem., on what precise ground
is not known.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY
(From the Official List.)
rinpincss done,
3 per Cent. Consols Annuities
India Bonds, £lOOO .. .
Ditto, under £lOO
Consols for Account
Exchequer Bills, 16d. June.
£lOOO .................................... II 7
£5OO ....................................... 11 7
Small .................. 11 7

March
11 7
11 7
11 7

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Grenada Bonds, Deferred,
Ditto Ex Dec., 1849, Coupon..
Greek cx over-due Coupons
Mexican 3 per Cent.... ...... .
Ditto Account April 15
Peruvian Bonds, 1849, 4; per Cent. ..
Ditto Deferred, 3 per Cent e3
Portuguese 5 per Cent.
Russian Bonds, 5 per Cent. .........
Sardinian Bonds, 5 per Cent..........
Spanish New Deferred, 3 per Cent 24.1
Turkish Loan, 6 per Cent., 1852 2 i p
Dutch Exchange 2i per Ceut 6si
Ditto 4 per Cent. Certificates... . 96i 7 ad

HALF-PAST TWO,

Conso15...
Ditto April Account