The Sun.
London, England, 1853-04-16 00:00:00

MINING INTELLIGENCE.

(From the Mining Journal of this day.)

MINES.—The smelters, for reasons best known to
themselves, have this week lowered the price of copper
2d. per lb., or about 181. per ton. We may, therefore,
we presume, look for rather more than a corresponding
fall in the standard for copper ores. In the absence of
any falling off in the demand for copper, and of any in-
crease in the supply of ores, it is difficult to account for
this sudden and unexpected move on the part of the
smelters ; and, as it would be in vain to attempt to
penetrate the mysteries of their craft, we must content
ourselves with considering the effect the decrease in the
price of copper may have upon the interests of mining.
The general share market has not been by any means
brisk, and the tendency of prices is decidedly down-
wards.
In the Bullion Market,—Mexican and South Ameri-
can dollars, 4s. 111 d. per oz. Bar silver containing
gold, all gold above 5 grains in the pound to be paid
for, ss. 18d. per oz. standard. ' Bar silver without gold,
ss. Ig-d. per oz. standard. Bar gold, 775. 9d. per oz.
standard. Fine cake silver, ss. 51d. per oz.
In the Metal Market the retrogade movement con-
tinues, and we regret to announce a fall of 2d. per lb.
on Sheathing Copper, and 181. per ton on Tough Cake
and Tile ; the respective prices now ruling are, there-
fore, is. ld. per lb., and 1171b.—Tin also, British and
foreign, is lowered to Si. 12s. ; Plates full 6d. per box
reduced in price, and scarcely any sales making in the
article.—Spelter has sustained a further drop of 10s. per
ton. —Lead and Manufactured Iron alone maintain their
position ; Scotch Pig-Iron is down again to 545. per
ton.
The gold mining share market this week has been
quiet. The inquiries have been chiefly for the Califor-
nian adventurers, especially for Nouveau Monde, Agua
Fria, Anglo-Californian, Quartz Rock, and Yuba River,
the accounts recently received by some of these com-
panies being very favourably interpeted ; on the other
hand, the Australian mines are comparatively neglected,
and, consequently, to some extent have suffered in price.
On Thursday, however, they again rallied, shares were
inquired after, and they have since maintained their po-
sition, and Great Nugget Vein considerably improved.
The news received from California has been of great
interest. The weather was fine, the roads to the mining
districts were good, and business was improving. At
Campo Seco, two Mexicans had struck a pocket, from
which in five days they took out 0,700 worth of gold,
one piece weighing 81bs., washing in their battais in one
hour 200 ounces. At Curtisville, three Mexicans had taken
upwards of $30,000 out of one claim in three days.
A traveller states that he saw three lumps picked out,
the largest as big as a brick. A piece of gold-bearing
quartz, weighing 250 ozs., and not containing more than
20 per cent. of quartz, had been sent from Sonora: At
Poor Man's Creek, another lump had been taken out,
weighing over 23 lbs., and valued at 300 dollars. At
Negro Point, the average gold found by each individual
was from 6 dollars to 8 dollars per diem.
A report has lately been spread that the value of the
100 dollars shares in the Rocky Bar Mining Company
were only of the value of 5 dollars in New York. It
appears that it was determined at the last annual meet-
ing that the denomination of the shares should be
changed from 100 dollars to 5 dollars. The old certi-
ficates have, consequently, been called in, and new will
be granted in the pioportion of 20 shares of 5 dollars
each for every old one of 100 dollars. The Agua Fria
Company have received advices from Mr. Hepburn,
their superintendent, informing them that Mr. Attwood,
the agent, had transmitted to him 1214 ozs. of retorted
gold, part of the yield of 160 tons of veinstone from
Gold Hill ; not being able to clear out the mortars, he
calculated about one-fourth yet remained in them.

THE WOOLLEN TRADE.

(From the Leeds Mercury of this day.)

The imports of wool into London in the week ending
to-day have been 1,778 bales, of which 592 were from
Sydney, 453 from Bombay, 211 from the Cape of Good
Hope, 330 from Galatz, and the rest from Alexandria,
Germany, Belgium, &c. The market for English wools
is active at full prices, and foreign and colonial samples
phcfarelimitedoorains.prices
continue
foreign
nlueadnree
eaxaanytfitedefranrnhiy:reil
dgo
colonial
rni aagtl e
tsh,
ewphich
wool
past
t havewe check b u
week.
been
business.—ales
effectedne ss.
Prices,
h-
onlyoSal
weevtsoe of
r a,
yafimmr firm.—ln
maintained,
ets
dha,leewsi Englishtthhi
saweek,n
uw powo marketalanrdd
lates
last
dwetenhe :kyr, es.
—ln the Liverpool wool market wool is in good demand,
descriptions.
t rather higher prices,priusbeli 2c
()psi:a rlbteaisci ue
sl
na
erxl
Sydney,yt vo r
e dhnlo:mssdoeigy rEoaa
swn ndt
Thursday,eeerirtiee we ill Thecom
India, 1,400 Peruvian, 400 Black Spanish and Italian,
and 1,000 Oporto, uenos Ayres, Turkey, Egyptian,
&c. The imports during the past week have been 114
Oporto, 209 East India, and 287 Trieste, Leghorn, and
Egyptian.
The woollen cloth market of Leeds has fluctuated very
much this week. On Saturday, there was a brisk and
active business dine in both the Cloth-halls ; nearly all
kinds of goods of a marketable character were eagerly
bought, and the stock of cloth in the market (which, for
a long time, has been exceedingly limited in quantity)
was nearly all cleared out. There has not been a better
market this year. On Tuesday very few fresh goods
were brought into the Cloth halls ; the assortment from
which the merchants had to select was, consequently,
indifferent in character and inconsiderable in quantity,
and a very flat and quiet market ensued. Considerable
deliveries of cloth are regularly taking place, by order,
direct at the merchants' warehouses, so that, on the
eboro fra.tia
There have been several buyers from London, Glasgow,
and other parts of the country in the town during the
week, which has caused more activity in the warehouses
for the home trade. Some of the shipping houses con-
tinue doing a brisk business, which, together with the
demand for own market, causes about an average trade
to be doing at present.
HUDDERSFIELD MARKET. Our market continues
without much alteration, and although the season is
pretty well over, the demand is kept up very well consi-
dering how firmly it has been sustained from the com-
mencement. In some cases prices are a shade easier.
ROCHDALE FLANNEL MARKET.—The flannel market
has been rather flatter to-day, and a more limited de-
mand for goods, but the prices have been fully main-
tained. The wool market has been quiet, with no change
worth mentioning.
BRADFORD MARKET.—The sales during the week have
been limited ; the prices demanded act as a barrier, and
the accounts from the country are quite contrary to
business being done. Noils and broker are without
change. YARNS.—The business doing is not different
to that of many weeks past. The cost of producing
yarns is too high to enable the spinners to offer at prices
at all satisfactory to the manufacturers. PIECES.—The
difficulty of making goods to meet the prices offered is
not lessened, and the avocation of the manufacturers
continues cheerless and unremunerative. The fair at
Leipsic is well attended, but the advanced prices retard
operations.
HALIFAX MARKET.— There has been a fair call for
both yarn and piece goods, particularly the former, for
which higher prices are paid. In the wool market, too,
the business has been tolerably active, especially as re-
gards the bright Lincoln kinds, which are fully as dear.
Middle wethers are 171 d. to 170. per lb. Low and
middle short wools are much inquired for : they are
scarce, and prices a little tighter.
TRADE OF LEICESTER.—The high prices manufac-
turers require has checked the home demand for the
present. There is. still a good business doing in the
foreign market. Worsted yarns have again advanced a
halfpenny per lb. Wools command high prices, and
there appears a full confidence they will continue at their
present rates, if not still go upwards.

NEW YORK MONEY MARKET.—The avounts from
New York show a slow but steady course of recovery in
the money market, and after the next arrivals from Cali-
fornia the resumption of specie remittances to this coun-
try may probably be expected, the imports of foreign
goods having been continuously large. As compared
with the corresponding period of 1852, when the quan-
tities taken were unusually limited, the value of the
merchandise entered during the first 3 months of the pre-
sent year exhibits an increase of 3,500,000/. The im-
migration to New York during the same period had
experienced a considerable diminution, the arrivals
for the three months having been but 26,544, against
38,660 in 1852. This has been caused by the diver-
sion of the European tide to Australia, and the
thinning of the Irish population from previous re-
movals, and already there were signs of a tendency
to an increase of wages. The New York Even-
ing Post contains the following paragraphs regarding
the recent pressure on some of the banks :—" Many
operators on the Stock Exchange and others feel not
check
quite sure that the banks have got out of their difficul-
ties,Lave on account of the large sums they are known to
upward andarthistetnedeleinnegy soufpptlhiees
manarikmerrtlavnet
borrowed,the
have repeatedly alluded, during the period of extreme
e
pressure, t the fact of some of thel banks, old and
Thnewe,
eahasveingf
theborowed largely to sustain themselves.
, the real
but .
l
i
y announced,
Bank has been the only
one public
over
now that the excite-
ment s
has existed, we rineal extent of the evil that
The Hanover Ba thnk had
k, should be made known.
Bank of the State of New V borrow $400,000, but the
sustain sum itself. This large ork had to raise $900,000 to
Mr. A. Belmont and Messrs.D was loaned to them by
The necessity to borrow seems to
Sherman and Co.
directors having, with inexcusable recklessness,
have arisen by the
the Bank of Charleston, which had )e allowed
ster-
ling exchange on speculation, to overdrawen buying up
the amount of $BOO,OOO. Of course, this large its account to
from the market limited the amount availableae sum taken
to the New
York merchants, at whose expense, therefore the bank
relieved itself. Other banks borrowed largely,
Bank of Commerce re-discounted its paper to
and the
a v very
large amount, while at the same time it was alto xevy
d
to
avail itself of the large balances it held of the Ohio Lifee
and Trust Company. It seems of some ',importance to
the mercantile community that they should know what
what a fragile reed banks are to rest upon for support."
PARIS BOURSE.—The advices from the Paris Bourse
mention a circumstance likely to have a favourable effect
both in its political and financial bearings, namely, that
the projected scheme for constructing a fleet of Transat-
lantic steamers to be stationed at the port of Cherbourg,
and which were expected to cost about 2,000,0001. ster-
ling, is reported to have been abandoned. From Odessa,
under date of the Ist of April, it is stated that much sa-
tisfaction had been occasioned by a confident impression
that orders had been received from St. Petersburgh for
disarming. "The fear of a rupture in the East," it is
remarked, " has for two months past kept business in
suspense, and we may now hope to see again a little
more activity."