The Sun.
London, England, 1853-04-09 00:00:00

MINING INTELLIGENCE.

(From the Mining Journal of this day.)
There has been a better market this week for shares
generally, and during the last day or two some very
heavy transactions have taken place—Alfred Consols,
West Providence, and Keswick having been the shares
most largely dealt in. Copper is not so firm, but we do
not anticipate any great fall at present ; for even with
the raking up of halvans and refuse at the different
mines, to swell the number of tons offered at the weekly
ticketings, the supply is very small, and would be much
more reduced were the price lessened, so as to render
the halvans valueless. The quantity of this refuse ore
being sold is very considerable, and the supply of
copper is very far short of the demand Lead is
not quite so firm. The new project of the
Chancellor of the Exchequer for issuing Treasury
Bonds at 24 per cent., and which it is generally
supposed will, sooner or later end in a reduction of the
rate of interest in consols, is likely to have its influence
on the mining market, as some of the most influential
members of the Stock Exchange. we are informed, have
determinol, if they can, to introduce and make a market
for dividend mines in the house. This, if carried out,
will have the effect of bringing more capitalists into the
market, and consequently of raising the price of shares.
We are glad to see this move in the right direction ;
for the conduct of the Stock Exchange in regard to
mining has always appeared to us somewhat anomalous.
They have for years admitted (not their "
List") foreign scherhes of questionable character, and
the veriest bubbles of mining, but have seemed to ignore
the existence of the bond fide companies—such as
Devon Great Consols, Basset, Buller, and others, pay-
ing the highest rate of interest of any known investment,
To judge of the effect likely to be produced on mining
property by this contemplated movement, we must look
at the present state and number of dividend mines, and,
the manner in which shares are held ; and in doing so
we are disposed to think that it will be almost impossible
to get a regular market, such as we have for stocks and
and railway shares ; and for this reason,—in the latter
description of property there are always jobbers and
dealers, holding a large stock, and always ready to
t`i`make prices" with the brokers, and having no object-
on, as occasion may serve, to "bull" or " bear" a
little. Now, in dividend mines, having only 256 shares,
how is it possible to do this ? We can fancy the condi-
tion of the poor stockbroker, or jobber, with the temerity
to " bear" a Buller share, when at 1,300/. ! In the divi-
dend mine share-list, we have about 90 mines—of which
some 70 are paying dividends, bi-monthly or quarterly.
The dividends on 15 of them for the month of March
amounted to 42,1851. The majority of these mines are
in 256, 512, and 1,024 shares, and held principally at
low prices, by private capitalists and country gentle.
men, who know little of mining, but purchased through
the recommendations of the principal mining agents,
and through whom only it is but fair to assume will the
shares be obtainable, should any great demand arise.
It appears to us, therefore, that now is the time that an
arrangement, such as we advocated many months since,
should be come to between the leading dealers in the
mining market and the members of the Stock Exchange
—an arrangement which would facilitate business, ex-
tend the area of mining operations, and tend to encour
rage truly legitimate speculation.
In the Bullion Market,—Dollars, 4s. llid. per oz.
Bar silver, ss. 11d. per oz. standard. Bar silver holding
5 grs. gold, ss. 11d. per oz. standard. Bar gold, 775. 9d.
per oz. standard. Fine cake silver, ss. 4i. per oz.
In the Metal Market, during the week prices have
generally retrograded, as we intimated likely to be the
case in the Journal of the 26th March. Still there
is no occasion for alarm, should even a further re-
duction take place, for the advance has been so unpre-
cedently quick, that a reaction ought to be anticipated,
and the sooner we arrive at a steady market and
remunerative price, the better it will be for the miner,
manufacturer, and consumer. Copper ore at the Swan-
sea sale, on uesday last, sustained a fall of 7 per cent.
in the standard, and we hear of business doing at less
than the quoted rates, the demand for it at present being
considerably lessened. Tin and tin plates are also to be
purchased at a reduced price, probably from the approach
of the Dutch sale in August next—about the quantity
then to be brought forward there are very conflicting
statements. Transactions in lead and spelter are not
quite so numerous as they were—the latter article has
fallen 10s. per ton. Scotch pig-iron is ls. 6d. per ton
less than last week.

GOLD MlNES.—There has been a re-action this week
in gold mines; and, altogether, this description of stock
is regarded more favourably than for some period since.
Early in the week, Peel River Shares were flat, owing
to the large number which were in the market. The
supply of Great Nugget Vein Shares, combined with the
unfavourable news from the Port Philip Company, on
Monday, caused a general flatness in all stock—the only
exception being Anglo-Californians, which were better.
On the following day, Yuba River and Great Nugget
Vein were in favour, and an improvement was decidedly
felt throughout the market. This was further increased
on Wednesday, owing to the improved appearance of
other speculations in the,Stock Exchange. Great Nug-
get Vein was up to 2i prem. ; Colonial Gold, 21 to 24
prem. ; and Peel River, 61 to 64 prem.

THE WOOLLEN TRADE.

(From the Leeds Mercury of this_day.)

The imports of wool into Landon during the week
ending to-day are 5,351 bales, of which 2,659 are from
Pori; Philip, 719 from the Cape, 617 from Van Diemen's
Land, and the rest from Calcutta, Germany, &c. The
market is very firm. With regard to the foreign wool
trade, the opinion is rather generally entertained by
those connected with the trade, that German and Colo-
nial wools will be scarce both for clothing and combing
purposes, before the arrival of the new clip in the market.
Holders are, therefore, not eager to effect sales except
at rather improved rates. In the English wool market
the sales of combing and clothing wools continue steady,
and the consumption is very large. Prices are very
firm, and continue gradually to improve. Iu the Liver-
pool wool market there has been a steady demand for
wool at full prices. Imports for the past week :-183
East India, 51 Naples, ap Leghorn, 375 Buenos Ayres,
250 Sydney, and 131 Cape of Good Hope.
With reglird to the woollen trade of Leeds, we have
no material change to report this week in the state of the
woollen markets ; on Saturday there was a good business
done in both the cloth halls. The demand for goods is
middling, and good qualities were rather brisk, and they
generally sold well, as did nearly all other kinds of
goods of a seasonable character. There was about an
average business done on Tuesday in both the cloth
halls.

HUDDERSFIELD MARKET, April s.—Our market has
been a shade quieter to-day, and no doubt as the season
advances the demand will not be kept up as it has been
for the last two months. We have seldom seen the
trade here so well sustained in any year as it has been
in this up to the present time. Stocks are still very low,
and prices, considering everything, not at all out of the
way, and still likely to be well maintained.
ROCHDALE FLANNEL MARKET, Apiil 4.—The demand
for goods continues very brisk, and the manufacturers
are obtaining rather better prices for their pieces. Low
priced English wools are very scarce, and the dealers
are asking better prices for them. The stocks in the
hands of the dealers are very light at present.
BRADFORD, April 7.—Wools.—The great activity
manifested for some time past has, to some extent, met
the present requirements of the spinners, who are de-
terred from buying, except to assort their stocks, at the
extreme prices now demanded. There can be no doubt
but the consumpticn has been considerable, and that
the supplies in the dealers' and farmers' hands are com-
paratively light, and held for pikes high as they may be
here, beyond what can be given to bring to the seat of
consumption. Noils and brokes are produced only in
limited quantity, and the demand equal to what is offer-
ing. Yarns—The spinners are labouring under great
disadvantage, the raw material making leaps that it is
impossible to keep pace with the article in its progres-
sive stages of manufac:ure. The nature of the trade
being now entirely one of order, as spools are day by
day delivery, all orders previously taken can only be
completed at a loss ; it is quite out of bounds now to
place orders at a price at all approximating.l;-q., for mid-
dle wethers, and with hopes of any relief this side
shear day. In reeed yarns there is a good deal of inquiry,
but for first-rate spinning.s uls 6d is now sought for 30 s to
40's, with no disposition to take orders for distant delivery.
Pieces—The increased prices now demanded for goods
make the merchants chary in giving out orders ; but
where old prices are submitted to-the result of the con-
tracts of last year in yarns—there is no difficulty in
eC:eang sales. The goods made from all wool are greatly
increased in cost ; and as t!7:;s is too early in the season
at to buyai foral d
pt
during
use
irtfi
,tr
tadhee,the
March.
quantity
lmh ea en
oupnf art
it?cntd
uuurecederds increase areb nplaced
ut
hei
hne
diminishe
cost of fine double, as well as good single warps, is greatly
to the advantage of the manufacturer. Cotton warps
have again advanced in price, aud in the finerthey sortsare 6
very d .
per lb. They have now advanced not less than is. 9d.
wool-
len nrjjglEbolo.cdEs sfroTmEß.
than
usual TheretlLelOW
so early lowest
arestpe raicey,andatthis
more shippin,g orders for wool-
in the season, particularly
for shirt:, drawers, and fancy hosiery. The' home trade
is, as usual, dull at this period for worsted goods. The,
cotton demand continues in full activity, though the in-
creasing numbers of round frames has multiplied pro-
duction to an amazing extent. 'Notice of an increase
of wages was given out on Saturday by most of the
hosiers. We believe 3d. per dozen more will be given
on wrought hose, and 2d. per dozen up to sixty leads,
and 3d. per dozen upon straight downs. The still in-
creasing value of wools has produced another rise in the
yarn market. Spinners are busy with old orders, but
they state they cannot see a profit at the present price
of wools. The wool market has experienced another
impetus, we hear as much as 40s. per ted being talked
about for farmers' lots. Stocks on hand are everywhere
liglit,andskin combing and short sorts are both dear
and scarce.

FATAL ACCIDENT AT THE NINE ELMS STATION OF THE
SOUTH-WESTERN RAlLWAY.—Yesterday morning James
Bateman, a man about thirty-four years of age, a porter
on the above line of railway, died at St. Thomas's Hos-
pital, from injuries he received on Monday last at the
goods depot of the railway at Nine Elms. It appeared
from information obtained, that the deceased, with some
other porters, were engaged in loading a waggon with
crates by means of a crane, and had got one in a sling,
when it unfortunately broke away from the tackling, and
fell upon the deceased, who was just underneath, from
which he sustained most frightful injuries, and his head
soon swelled to twice its natural size. lie was picked
up and conveyed to St. Thomas's Hospital, where he
lingered until yesterday morning, when Heath terminated
his sufferings. He has left a wife and young family to
deplore 121.1