The Sun.
London, England, 1853-02-19 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday, were
estimated at 5,000 bales. The market was quiet,
but closed heavily at previous rates. Railway
shares were firmer.

The Indigo auctions went off well again yester-
day afternoon. The quantity passed is now 10,306
chests, of which-6,477.have been sold. The sales
will be resumed on Monday, with the remainder of
catalogue B.'
The balance-sheet of the Bank of England, made
up to the 12th instant, shows by the changes in its
various items that the demand for money continued
steady, for although there was but a trifling increase
in the loans and discounts, the withdrawal of pri-
vate balances_showed that parties were able to ob-
tain better employment for their surpluses. The
sum of the precious metals was diminished nearly
300,0001., as stated under this head a day or two
since, and this necessitated a curtailment of the
issues, and an addition to the notes reserved.' The
smaller amount of the GO.ve,rnment securities shows
either sales by the Bank, or a return of advances
that had been made thereon. Compared with the
previous week, the changes are as follows :--

Active circulation
. Decrease
BulliOn
Decrease__
Rest

Increase
Public Deposits
Increase
Other deposits.
Decrease
Seven day and other Bills
Decrease
Government securities
Decrease
Other securities
Increase
Notes unemployed - •

InCrease...

£22,305,085
390,325
18,402,360
298,452
3,313,924
5,492
6,239,297
671,092
12,012,578
593,652
1,417,834
22,164
13,648,600
116,051
13,790,758
84,946
9,494,625

155,805

The rates at which Bills of Exchange were nego-
tiated yesterday afternoon on the principal conti-
nental cities were higher on Paris, viz., 25 27i to
32i, and up to 13 7,1 and 8 on Hamburgh, and
120 i on Frankfort. Amsterdam was scarcely so
good, being 11 18{ to 19. Trieste about the
same. All these prices are for 90 days' bills.
From what transpired at the meeting yesterday
of the shareholders in the East India Railway Com-
pany, it would appear that there are some parties
who still affect to believe that the formation of the
entire railway communication, not only in the
Bengal presidency, but also in the north-west pro-
vinces, ought by gbod right to be entrusted to that
company, notwithstanding the immense contracts
it has on hand, and the importance of other lines
being formed simultaneously. Neither the Board of
Control nor the honourable Directors in Leadenhall-
street, will be disposed, we apprehend, to favour
in the least such unreasonable pretensions, damag-
ing as they would prove to the public weal, and
objectionable as they would be upon principle.
The Upper India Railway Company has a prelimi-
nary capital subscribed by first-rate parties, willing
forthwith to commence the construction of the
great trunk line, of about 400 miles, from Allaha-
bad to Delhi. The directors are practical men,
either here or in India, and Mr. Robert Stephenson,
the eminent engineer, is their adviser. There
never was a time when it was more expedient for
Government to adopt a well-organised plan, such
as is here presented ; and if Sir Charles desires the
welfare of our vast Eastern territories, he will
without delay secure the necessary capital offered
by this public and responsible company, and anti-
pate the period when, money being scarcer, the
same facilities would not exist. A very moderate
guaranteed interest would be an adequate induce-
ment, because the proposed line has all the ele-
ments of success within itself. It passes along a
level country and populous cities, and replaces a
miserably tedious system of travelling. It cen-
tralises the governing power, while it developer
the popular resources ; and the following state-
ments, so far from being exaggerated, are, as the
Indian press hai testified, much subdued in com-
parison to ascertained recent data :

" There is, both by steamers and country craft, a
continuous permanent water communication between
Calcutta and Allahabad. The yearly tonnage of the
Lower Ganges is 1,500,000 by the country craft alone.
The number of passengers is also very great. Deep
water ceases at Allahabad, and consequently it is at this
important city that the real difficulty and expense of
transit begin. The sandbanks of the Upper Ganges,
and the sharp ledges of rock of the Jumna, render
the navigation by even the . smaller country craft slow
and precarious. The instusitce of merchandise and pro-
perty from Agra, to Allah*Wkd, by the river route, in con-
sequence. of the danger antl difficulty of the navigation,
is as higt as from Calcutta to England, the distance in
the one case being. 300, in the latter 15,000 miles.
Above Allahabad, notwithstanding the defective river
navigation, and. the rude and expensive land carriage,
which costs from 4d. to 8d per ton per mile, moving at
the slow rate of 10 miles in 24 hours, there is an officially
ascertained traffic of above 1,000,000 tons, and a land
passenger traffic, by various conveyances, exceeding
100,000 per annum, besides passengers by boats, and
about 300,000 travellers on foot. Having a great and
navigable river connecting Calcutta and Allahabad, a
railroad would, by beginning at the latter city, and pro-
ceeding by Agra and Delhi to Lahore, establish a steam
communication from Calcutta through the fertile and
populous Dooab, in the North-West Provinces; " occu-
Tying the great 'line of Indian traffic with Central and
Upper Asia." This is the great line of military as well
as of commercial intercourse, more than three-fourths
of the Bengal army being cantoned above Allahabad,
and almost all emergent movements of troops and stores
taking place to the north-west, or in advance of that
town. One of the directors of this company, so far
back as 1846, in a work of his on Indian railways
(" Indian Railways," by an Old Indian Postmaster),
stated that he had seen no large portion of territory
present' the like facilities for the introduction of a rail-
way, as from Allahabad to Delhi.' "

The exports of gold coin from London direct
during the week to Thursday last, were only
1,800 oz. to Belgium, and 10,0001. to Port Philip,
and of silver 5,409 oz. to the Continent.
_. _

The English Stocks are flatter, upon the news of
a collision between the Turkish and Austrian
troops, and the.discovery of a conspiracy in Hun-
gary ; but very little business has been done.
Consols have been 9 for transfer, and 991 for
account. The New Three-and-a-quarter per Cents.
have been marked 1031 Bank Stock is firm, at
224 to 228. The advertised Exchequer Sills
have dropped to 10s. premium and par.
Foreign Securities have been very dull. Spanish
New Deferred are firm at 23g, and Mexican at 23i.
Buenos Ayres have been done at 62. Dutch Four
per Cents. are 98k, and Belgian Four-and-a-Half
per Cents. 99.

- Railway Shares have .been tolerably firm, and
in Aberdeen there is a further rise. French shares
have been much the same.

The Gold Mines are very steady.
The Land Companies' Shares are still rising.
Australian Agricultural are up 51. to 10/. ; and
South Australian about 21.

The Joint Stock Bank Shares are very firm.

BRITISH FUNDS THIS DAY.
(Front the Official List.) _

Busfness aons.
Bank Stock
3 per Cent. Reduced Annuities lOOl 6
3 per Ceut. Consols Annuities
3 per Cent. Annuities, 1726.;
New 31 per Cent.. Annuities..... ........... 103 a
Long Annuities, Expire-sth Jan., 1860 6s
Consols for Account 10th March
Exchequer Bills Id. March. 99
?,June.
£1000........... lO 5
£5OO
Small
Ditto Advertised

5 12
10 par

PRICE OF FOREIGN FUNDS THIS DAY.
Buenos Ayres Bonds, 6 per Cent 62
Mexican 3 per Cent.
Russian Bonds, 5 per Cent.
Ditto, 4i per cent lO3l
Spanish Bonds _3 por Cent •
•
Spanish New Deferred, 3 per Cent 23a i
Spanish Committee Cert. of Coup. not fun 5 p a
Belgian Bonds, 4i per Cent. Ex. 25fr. . 99
Dutch Exchange 24 per Cent —
Ditto 4 per Cent. Certificates... .... .
TWO O'CLOCK.
994
99i a

Consols
Ditto March Account

LLOYD'S SHIPPING-(THIS DA Y.)

LONDON, Feb. 19.—Wind at Noon, N.E., light breeze,
and fine clear frosty weather.
PORTSMOUTH, Feb. 18.—Wind, N. to N.N.W. Sailed
—H.M.'s ship Medea, Havannah ; do., Furious, cruising.
DEAL, Feb. 18.—Wind, N.N.W., strong and squally.
Arrived—Resolution, Lines. Arrived from the River,
and sailed—Kath. Stewart, for Forbes, N.S.W. ; Glori-
ossa, Calcutta ; Emperor, Algoa Bay ; Claudia, Demerara.
OFF FALMOUTH.—Thomas Snook, Loudon, for Cape
Coast Castle.

LIVERPOOL, Feb. 18. Wind, N. Arrived—Baltic (s),
New York, loft on tho 7th of February, on freight 150,000
dollars of specie. Sailed—Sir John Falstaff, Jamaica ;
William Mills, Savannah.
PARIS, Feb. 18.—The Fanny of Nantes has been
wrecked ; crew saved.
GLioN, Feb. 11•—The Jessie of Liverpool went down off
Luanes on the 9th inst. ; crew saved.
GIBRALTAR, Feb. 9.—The Omonia, Greek brig, for
Queenstown, put in here, January 31, leaky, and will dis-
charge.
YARMOUTH, Feb. 18.—The Econcmy of Goole foundered
off Cromer ; crew saved.
LYNN, Feb. 18.—The Blassorn, which grounded, came
off without damage.
BELFAST, Feb. IL—Wind, N.B. Sailed—John Thom-
son, New Orleans.
BURNTISLAND, Feb. 19.—The Samuel Whitbread,
which grounded at the entrance of this harbour, has come
in leaky, and will require caulking.