The Sun.
London, England, 1848-03-22 00:00:00

8V44 N iikra cis NI A VI

OVERLAND MAIL

1 N 11 1 A.

The intelligence brought by the Bombay mails of
the 15th of February is not of great importance.
The mercantile affairs of Calcutta and Bombay appear
to engross lunch of the attention of the newspapers.
The exposures effected of the proceedings of the
Union Bank of Calcutta, during the last year, are
absolutely appalling. The shareholders, who see
ruin staring them in the face, have made some efforts,
and a contribution of 20 per cent. is to be levied on
the shares. The Laudable Assurance Company is
involved, from having invested their funds in the
securitii-s of that bank. The state of commerce in
the east of India is affected by those important pro-

ceedings.
In Bombay another subject of discussion has arisen
in the new Act for improving the Small Cause Court,
which was proposed to the Legislative Council at
Calcutta by the Chief Justice of Bombay, Sir Erskine
Perry. This is looked upon by all enlightened men
as a vast improvement. As it will simplify many of
the suits, and enable the suitors to obtain speedy
justice, a sort of hole and corner opposition has been
got up against it in Bombay. Misrepresentations and
abuse are abundantly scattered on the subject. Sir
E. Perry, who went to Calcutta in the month of
January, has explained the matter to the Legislative
Council, and the Act was to have been passed in the
beginning of March.
The opposition which was raised against it had
become divided, and there was everyprobability of this
vast improvement being carried forward. The parties
most opposed to it were the attorneys and lawyers,
who united to perpetuate their old system of plucking
the natives.

The Governor of Bombay went to Sinde on the
10th of February ; he was accompanied by two
secretaries, and was not expected to return from the
banks of the Indus until the end of March, when the
great heats are felt there.
From the Punjaub there is not much news. The
settlement of that country is going forward. A quan-
tity of treasure, amounting to 250,000/., was found
buried in a house once the property of Lall Singh ;
half of the money has been handed into the British
Treasury in payment of the Sheik liabilities.
Sinde presents nothing remarkable, except the
news of an unusual fall of rain in the northern part,
and the loss of another steamer, by carelessness, in
the Indus, where she struck on the anchor of the
Satellite, and soon filled. She had a part of the 9th
Regiment of Native Infantry on board, who, with
their kit, &c., and the engines of the steamer, were
saved.

Several courts-martial have been held in Bombay
on officers and men of the Indian navy, and severe
sentences have been passed. One young officer, who
was publicly addressed in unbecoming and irregular
language by a junior lieutenant, replied, " That he
would be d—d if he should stand such ;" and asked
to be reported. He then threatened to send in
charges against the lieutenant, who, on overhearing
the threat, got first to the captain, and lodged his

complaint. The young mate was tried for insubordi-
nation, from his having resisted the opprobrious ex-
pressions, and has been dismissed the service. Other
trials of as odd a nature are going forward.
Her Majesty's ships Vernon and Cambrian were in
Bombay harbour ; the former, requiring repairs, was
about to be docked.

From Madras the news is scant. The Marquis of
Tweeddale was to remain there until the arrival of
Sir Henry Pottinger, who was expected from the
Cape about the middle of March. The old question
of the discussions with the natives respecting their re-

ligiJus feelings, &c., is still alive, and likely to excite
dissatisfaction unless Sir H. Pottinger finds means to
pacify it.
The district of Shornpore, which during the last
five years was under the management of Captain
Meadows Taylor, was slightly disturbed by an attempt
of the Ranee, or Queen-Mother, who sought to create
a rebellion amongst the peaceable inhabitants. The
attempts failed; the principal leaders of the Ranee's
party have been imprisoned, and she herself removed
from the district. Order and quiet prevail as before,
thanks to the prompt measures of Captain Meadows
Taylor.
The new Governor• General remained at Calcutta,
where he was employed in learning all the details.
He has a wide field. His approval of the Small Cause
Court Act of Sir E. Perry has raised hopes of the
willingness of his Lordship to effect salutary reforms
in India. The departure of Lord llardinge has been
the occasion of raany compliments having been paid
to him.

India was tranquil and healthful. A slight com-
plaint, called the English cholera, prevailed in
Poonah and its neighbourhood. The weather at
Bombay in the beginning of February had been cold,
but towards the middle it was pleasant.

COMMERCIAL INTELLIGENCE.
THE BOMBAY MARKET.
(From the Bombay Times of Feb. 14.)
Since the dispatch of the last mail the state of our
market has remained much the same as for the fortnight
before it had done. No improvement has made its ap-
pearance in prices, either for import or export goods,
owing to the great pressure on the money market; and
cash continues very scarce. Business, however, has
been done during the fortnight to some extent, but at
lower rates than during last month, for cotton goods and
cotton wool; while for metals full prices have been
obtained us formerly, and rennin steady. Since the
dispatch of last snail the prices of Oriental and Com-
mercial Bank shares have fallen off per cent. We
quote to-day the former at 3 per cent. premium, and the
latter at 9 per cent. discount. We can hardly expect a
better demand for these or any other stocks in trade
until the money market becomes easier. The steamer
with the London mail of the 7th of January, which
arrived on the evening of the 9th instant, having brought
accounts of a better demand for cotton wool existing at
home, has produced some effect on our market for this
staple, and also on tonnage.
Cotton yarn and woollens continue to be neglected
and dull. Nothing has been done in them.
Metals Copper There is a steady demand for
sheathing, braziers, and raised bottoms, and they have
advanced 1 rupee per cwt. The following sales have
taken place during the fortnight, and the stock is nearly
exhausted. The price of tiles and American remains at
our former quotations : Rs. A.
500 cwt tile copper
300 ditto -
300 ditto
200 ditto
Bolt Copper—None in the market, and a good in-
quiry after it.
Swedish and English iron, nail rod (round and
square), sheets, hoops, nails, steel, lead, spotter, quick-
silver, tin plates, red and white lead, remain much the
same as at our last report.
Cochineal.—We have heard of no sales to report, and
the prices to-day may be quoted at 41r. per lb.
Saffron—We have heard of no sales since our last,
and the price is nominally 14r. to 16r. per lb.
Spirits—Holland gin is scarce in the market. Tho
supply in the importer's hands we have heard of is
very trifling, and the article will command a higher price
than brandy.
Marine Stores—We have heard of nothing doing
under this head; the prices may be considered as quoted.
Of tar, coal, and Stockholm there is none in market,
and the first small parcel that comes to hand will com-
mand a pretty high price.
Sugar—A sale of 6,000 piculs of No. 2 China sugar
has taken place, at 3r. Ba. 3p. per Surat maund.
EXPORTS.—Cotton Wool—Since the dispatch of last
mail the prices have somewhat fallen off, and business of
the fortnight was limited in amount, until the evening
of the 12th. Since then they have risen 2r. per candy.
We have heard of purchases of some parcels of this
staple being made within these three days—of Broach
and Jumbooter at from 70r. to 72r., and of Dhollera at
64r. to 74r.; and 300 candies Ooramwuttee at 70r. to
71r., by native shippers.
Sheep's Wool—We have heard of no purchase to
report, and the prices may be considered as quoted.
Opium—A slight alteration has taken place since our
last. We have heard of purchases having been made
during the fortnight of upwards of 100 chests, at from
870 r. to 880 r. per chest.
TONNAGE.
Freight to Great Britain has advanced since our last
to 41., at which rate engagements have been freely made;
and to China 15r. per candy.
Excmarrovs.
Exchanges on England, six months' sight, ls. 91d. ;
three months, Is. 9d. one month, Is. Bid., these are
the Banks' rates ; and for bills secured by shipping
documents we quote Is. 10d., at which rate some trans-
actions have been done. On China, 210 r. per 100 dolls.
The rate on Calcutta has advanced since our last for
Company's draught—say eight, per cent. premium
thirty days, Dir. ; and sixty days, 98r. for private bills.
THE CALCUTTA MARKET.
(From the Calcutta Englishman of Feb. 7.)
Our markets here, since the date of our last report,
have been in rather an unsettled state. Distrust and
want of confidence have increased, and are extending
among the native portion of the mercantile community.
We have, happily, no new casualties to report among
the European houses ; but several native firms have
suspended payment, and the firm referred to in our
Price Current of the: 21st of January, after a short and

vain struggle to maintain Its position, was compelled
finally to close business.
Our export market has been inactive, and prices of
produce are generally lower. The very discouraging
advices received of the home markets, and the high
rates of freight have induced buyers to operate sparingly
and with great caution. Sugars are pressed on the
market by holders, which has increased the declining
tendency. There has been an animated inquiry for
saltpetre, but the want of tonnage had restricted opera-
tions. There is nothing doing in silk, and silk piece
goods still remain neglected. Rice has attracted a good
deal of attention, and a fair amount of business has
been done iu it.

In our import market a good demand has existed for
cotton piece goods, which have been moving off freely,
but generally at much lower rates, holders being more
ready to meet the views of buyers. Mule twist has
continued dull, and for the season the demand has been
moderate. Metals remain without alteration.
The money market has become more tight, and the
wants of the mercantile community more urgent, yet
the coffers of the Bank of Bengal remain full, for want
of approved investments. A considerable dechne has
taken place in Government securities. 'rho following
are our present quotations:—New Five per Cents., 1 2
to 1 8 discount; Old Sicca Rupees, ditto, 5-8 to 6 ditto;
sieca rs., 4 per cent., 19-8 ditto; Company's rs., ditto,
17 4 to 17 8 ditto; Bank of Bengal shares arc 2,190 r. to
2,200 r. premium, being 350 r. to 400 r. lower than our last
quotations.
Exchange is still at 1-11 to 1 111 for document bills
at six months' sight; Baring's credits, l-121 to 2. At
the export warehouses 420,000 r. have been advanced on
goods under hypothecation at 1 10i-. The amount
drawn by the East India Company on the Bengal
Treasury by this mail is 40,5,431.45. 3d.
Tonnage has been scarce, and eagerly taken up as it
offers.

Freights have -consequently advanced; our present
quotations are—to London, saltpetre and sugar, 6/. 10s.
to 61. 155.; rice, 6/. 15s. to 7L; indigo, 81.
Indigo—The buyers of this article have since our last
evinced a degree of reserve which diminished the com-
petition in the biddings, and caused the prices in most
instances to rule 2r. Ba. to 2r. lower, thereby bringing,
particularly.the good and fine qualities, and the middling
lower consumers, to a par with London October sales
value. The transactions since our last were confined to
public sales, at which 20.171 chests were put up, but
only 1,926 sold at the under-mentioned rates, the
proprietors partly refusing to submit to the reduced
offers.
Sugar—The demand has been falling off, and though
the best qualities are from their scarcity firmly main-
tained, buyers are less eager, whilst they decline trans-
actions in all the lower sorts, even when offered at easier
rates.
Saltpetre—A fair business has been doing in this
article, and no inconsiderable part of it for the British
markets, at fully previous rates for the better kinds in
low refractions and good colour, and a decline of 2a. for
the lower qualities.
Rice—The inquiry for this pulse remains unabated,
and fully previous prices are freely paid, and with the
large supply not less willingly accepted.
Safflower—The growing crop is represented to be less
forward than usual, but, notwithstanding, promising a
fair average outturn if the weather should be favourable
for another month. _ .

Raw Silk—Nothing worth notice has been done in
this article. The stocks remain small, and there i 3 no
disposition on the part of buyers to operate.
Cotton—Nothing has been doing here in this wool.
Prices in China had fallen 4 to 5 mace lower, Bengal
cotton being quoted at 7 taels 4 mace to 7 taels 6 mace.
Exports from the Ist to the 31st of January, 184$ :
Bales.
To Singapore ... 1,327
China ... 580
Rum—This spirit continues neglected; shipments
going forward being on account of distillers.
Exports from the Ist to the 31st of January, 1848:—
Gallons.
To Great Britain ... . . ... 57,309
Sidney ... ..• 2,356
Exports from the Ist of February up to date:—
To Great Britain ... ... 5,001
Opium—The third sale of the season took place on the
24th ult., and passed off languidly at reduced rates.
Since the receipt of the last advices from
China, where stocks are reported small, a slight ad-
vance has occurred, shippers feeling more confidence in
the drug.

AMERICAN NEWTS.

LIVERPOOL, TUBSDAY NIGHT.

By the arrival of the New York packet•ship
Ivanhoe, Captain Edwards, we have papers from
New York to the sth instant, four days later than
was received by the Sarah Sands. The news from
Mexico is unimportant. It is generally said at
Washington that the treaty entered into by Mr. Trist
with Mexico would not be ratified by the Congress
of the United States.
The steam-ship Britannia had reached Boston after
an extraordinary long passage of 21 days. She en•
countered very heavy weather.
Her advises had an immediate influence on the
markets for cotton, flour, grain, Indian corn, and
provisions, which:slightly advanced, with the'prospects
of a further improvement.