The Sun.
London, England, 1853-03-23 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY; TWO O'CLOCK.

The sales of Cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,500 American
were taken for export and on speculation. The
market closed heavily, with prices of all kinds much
the same. The sales comprised 4,750 American,
300 Pernam and Maranham at 6id. to Bd., 20
Bahia a'z, 6d., 300 Egyptian at 7d. to Is. 2d., 400
Surat 341. to 40., and 150 Sea Island at ls. 9d.
to 2s. ad. per lb. Railway Shares were rather
firmer.

Bills of Exchange upon the principal cities of the
Continent were taken yesterday afternoon at fuller
rates. Paris, 90 days, 25 25 to 30 ; Amsterdam,
11 19 to 19i ; Hamburgh, 13 81. to ; and Trieste,
11 10 to 14.

The ship President Ram, from London to Ade-
laide, has put back to Plymouth very leaky.
There seems to be a very marked difference in
the success attending the operations of the gold
companies. One or two have been subjected to
great disappointment and some loss, while others
have been, much more fortunate, and have excel-
lent prospects. The Colonial Gold Company has
received advices to the effect that there woulb be an
excellent locality selected, and that the men were
steady, and inclined to observe their engagements,
with one or two exceptions. The Port Philip
Company bas news of exactly the opposite cha-
racter. The locality selected, Forest Creek, is
either a bad one, or the Cornish miners are pocket-
ing the " big lumps" themselves, the resident
manager being of opinion that the latter is the
case. While such proceedings on the, part of the
men appear to us peculiarly ungrateful, they
at the same time stand as a beacon to guide the
future course of all Australian undertakings.
The Port Philip Company incurred a great expense,
and exercised the greatest care in the selection of
its miners, principally from Cornwall, taking all
possible measures to render it their interest, as it
was their duty, to respect the engagements entered
into. So great was the solicitud shown in this
respect, that the wives and families left behind
were confided to the company ; we believe, in some
instances, a certain amount of the husband's pay
being handed to them. Mr. Evans Hopkins,
the colonial manager, is a gentleman long
and well known in the mining world, and has
had experience in South America, where gold min-
ing is conducted, but despairing of making the men
work, he enters into the extraordinary contract of
allowing them two-thirds of all the gold picked up,
and defraying out of the other third all the heavy
expense of their maintenance. To suppose such a
system could endure, would be to suppose an absur-
dity, and according the local director has stopped
it, and discharged the men ; the wisest course he
could take. The conclusion we arrive at, there-
fore, looking at these facts, and comparing data
which other companies possess, is that the staff
alone should be sent to the colonies. A few super-
intendents, highly paid, and having scientific as
well as practical experience, would not have the
temptation of digging for themselves, because it
would be very unlikely they could earn more
than the company might well afford to pay
them, but the sturdy English miner, newly arrived,
forms such extravagant notions that he becomes
far more untractable than the equally hard-working
labourer, some time in the colony, and capable,
under instruction, of doing quite as well at gold-
mining as the practised man left without scientific
direction. There is proof already that no difficulty
any longer exists in obtaining labour in the colony.
The number of disappointed diggers is so
large, and the influx of respectable men who
have no immediate resource is so continous,
that we fully expect, ere long, to hear of the com-
panies obtaining hands almost on their own terms,
seeing the comforts and the certainty that they can
offer, and the appliances of skill and machinery
that will make it pay to work fields valueless to the
unaided miner. A few months may yet elapse be-
fore the amount of profit obtainable by companies
can be tested, but that under proper management .
and with adequate capital they can afford a satis-
factory return, we entertain very little doubt.
A new project, the Royal Danish Railway, is
about to be brought out under a six per cent gua-
rantee from Messrs. Brassey, Peto, and Betts, with
division of profits above that sum. The Danish
Government has granted ample privileges and full
powers, and the line is expected to be completed in
fifteen months.

There is very little business doing in English
Stocks, and prices remain about the same as yester-
day. Nothing in the foreign news seems to alter
the impression which prevailed yesterday, viz.,
that, however lowering and complicated 'the
Eastern question is, there is strong ground for the
presumption that negotiation will gradually smooth
away all difficulties. Consols have been 993/4 for
Transfer, and 991 4 for Account. The New
3i per Cents. have been at 99i- for special transfer.
The only bargain in Exchequer Bills has been at
Bs. to 12s. premium for the small. East India
Bonds have been quoted at 425.
Extensive dealings have been entered into in the
Foreign Securities, and prices have been more
buoyant. The fall in values, which occurred by
sympathy with our own funds, has now been nearly
recovered. Mexican have been firmer, at 252
Grenada active Bonds have been marked 22i
and Equador hare risen to 5k Buenos Ayres
Stock is dull at 60i. Peruvian Deferred Bonds
are about 63k to 643/4, and the Scrip is 33/4 to 4 pre-
mium. Venezuela is quiet at 38k. Spanish New
Deferred Bonds have been better, realising 241
and the Certificates are up to 8k f. Greek Bonds
fully maintain the previous quotations, and are in-
deed a shade higher, having been done at 82. Rus-
sian 4k per Cents: are worth 1032. French 43/4 per
Cents., 103 50 ; and Dutch 4 per Cents. 982.
In the Railway Share market there has been
scarcely any business done. Caledonian are better,
and there is a slight advance in Great Northern,
Lancashire and Yorkshire, South Western, Mid-
land, and South Eastern. The French lines,
though dull, are held very firmly.
The Gold Mine Shares have been quiet. Port
Philip have been done as low as par, but Colonial
keep up. Nouveau Monde are firm, and Austra-
lasian are higher by to 1.
The Land Companies' shares are stronger, with
more doing.
The Joint Stock Bank shares of Australia are in
fair request, and the South Australia are attracting
attention.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY.
(From the Official List.)
Rumness done.
3 per Cent. Consols Annuities
New 34 per Cent. Annuities.. ...........
Long Annuities, Expire sth Jan., 1860 . .
Ditto 30 Years, Expire sth Jan., 1860 64
India Bonds, £lOOO —
Ditto, under £l000
Consols for Account 13th April
Exchequer Bills, 1/d. June. March.
5ma11.............. • ........................ 812
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cent 6Ol
Equador Bonds`
Grenada Bonds, Deferred,
Ditto Ex. Dec., 1849, Coupon.
Greek ex over-due Coupons
Mexican 3 per Cent 2si
Ditto for the Account.. 2si i
Peruvian Scrip .. .... .
Portuguese 5 per Cent. 3B
Russian. Bonds, 5 per Cent.
Ditto, 4i per cent lO3l
Sardinian Bonds, 5 per Cent.
Spanish Bonds, 3 per Cent 49 1
Spanish New Deferred, 3 per Cent 248 i
Spanish Passive (Converted) si
Spanish Committee Cert. of Coup. not fun B4 1 p e
Venezuela Bonds 3i per Cent.
Ditto Deterred, 1 per Cent l6
French Routes, 44 per Cent
Dutch Exchange ffi per Cent 664
Ditto 4 per Cent. Certificates..

Consols
Ditto April Account

HALF-PAST TWO.
994
99A

THE MADIAI have arrived at Marseilles from Leghorn
in the French mail steamer Hellespont.
LONDON SACRED HARMONIC SOCIETY. Handel's
sublime oratorio " Messiah" will be performed . to-
morrow, Thursday evening, by the London Sacred
Harmonic Society, Exeter Hall, under the direc-
tion. of Mr. Surman, its founder, and conductor of the
oratorios for twenty years. Principals—Miss L. Pyne,
Miss M. Williams, Miss Stabbach, Miss C. Henderson,
Mr. Lockey, and' Mr. Lawler. The band and chorus
will consist of nearly 800 performers, and will be corn
plete in every department.
The suspension was announced yesterday of Mr. Le-
muel Goddard, engaged in the iron trade. The amount
of his liabilities is not stated; but it is supposed they are
rather considerable, and chiefly held in the north.
THE THEATRICAL FUND.—Amongst the donations to
this fund which were announced at the dinner on Mon-
day, was one of five guineas from Mr. Tegg, the well-
known publisher.
PRICE OF GOLD.—The quotation of gold at Paris is
about at par (according to the last tariff), which, at the
English Mint price of 3/. 17s. 104 d. per ounce for stan-
dard gold, gives an exchange of 25.17 ; and the exchange
at Paris on London at short being 25.05, it follows that
gold is, about 0.48 per cent. dearer in Paris than in Lon-
don. By advices from Hamburgh the price of gold is
429 per mark, which, at the English Mint price of 31.
17s. 10tid. per ounce for standard gold, gives an exchange
of 13.7 ; and the exchange at Hamburgh on London at
short being 13.61, it follows that gold is 0.35 per cent.
dearer in Hamburgh than in London.
MONEY-MARKET AT VIENNA.—The telegraphic quota-
tions from Vienna show a very unfavourable movement
i« the nion..,y-market, the exchange on London havinT
arlvancell to 10.58. was probably eaused;-howeve, ,
by the prevailing apprehensions regarding the Turkish
question, and the absence of intelligence as to its antici-
pated settlement.