The Sun.
London, England, 1848-10-03 00:00:00

4?"4 • --
/71g) Jr
7 OCTOBER, 3 1848.

OVER LAND Mal

INDIA.

Letters and papers in anticipation of the Overland
mail of the 31st of August have been received. The
dates are from Calcutta to the 20th, Madras the 25th,
and Ronbay the 31st of August.
The troops under Edwardes were still in expectancy
before Mooltan. The Feroz-pore force, of about
7,000 or 8,000 men, which the last mail mentioned
as having been dispatched to their relief,- was hourly
expected to juin them, compri-ing two brigades 01
infantry, some cavalry, sappers, and a siege train,
Heavy firing had been heard in the direction of
Mooltan in the line of one of the columns.
A Seikh auxiliary force was also on the march from
Lahore.
The Bombay Government had countermanded the
progress of the troops previously ordered to proceed
up the Indus to Mooltan, on the ground that they
would not be required or would arrive too late.
Native intelligence from the scene of insurrection,
early it August, states that the inhabitants of Moot-
tan, having heard of the approach of the Briti-h
- troops, were quitting the place, and that the Dewan
had in consequence built up the gates.
The Overland Bombay Telegraph and Courier con •
tains the following intelligence respecting the move-
ments of the auxiliary column:—
" The Ferozepore land column of the Mooltan
force crossed the river to Gunda•Singwalla on the
231 ult., and halted there on the two following days.
This'delay led to the report that probably the whole
force would be recalled; but - the rumour happily
proved incorrect. The Lahore column (consisting
of the 7th Irregular Cavalry, a troop of Horse
Artillery, and the 52d and Bth Native Infantry)
marched on the 21st, and proceeded onwards
without any protracted halt, expecting to effect a
junction with her Majesty's 10th Foot, on the 7th of
August, and with the Ferozepore column and siege
train at a later date. The particulars of the marches
of the troops would possess little interest far our
readers ; suffice it to say that the progress of both
columns appears to have been favourable, and that,
so far as we have heard, they encountered no moles-
tation by the way. In the Lahore column several
sepoys died of apoplexy, and her Majesty's 10th
sustained a severe loss in the death of Colonel Strick-
land. The Ferozepore Brigade enjoyed almost total
immunity from loss or from serious illness. The
Sappers and Miners reached Bhawulpore in seven
days and a half from Ferozepore. The Delhi
Gazette of the 16th instant says Although we
have no details to give in our present issue, we are
happy to say that the progress of the troops towards
Mooltan continues very favourable. No additional
deaths had occurred, and a considerale portion
expected to be before the place this day or to-morrow."
We regret to add that there is news by this mail of
an insurrection, or something very like it, of the
Seikh troops in the mountain districts of the Hazerah,
a province of the Punjaub, where it appears an out-
break had occurred, following but too closely the
example set at Mooltan, since the first act was the
murder of Colonel Canara, an European officer in
the Seikh service. The Delhi Gazette observes, in
reference to this intelligence, that the impolitic delay
which had occurred in marching troops to Mooltan,
no doubt had led the insurgents to presume upon our
weakness, under the belief that we were not in a
position immediately to put.down rebellion.
A circular letter from the editor of the Delhi Ga-
zette to a correspondent at Bombay, dated the 20th
of August, states that the insurrection in the Ha-
zerah country was orie of the Seikh troops, and not
of the people ; that it had been instigated by the
Seikh Governor Sirdar Chuttur Singh, Attareewallah,
father of Raja Shere Sing, and that an attempt to
seize the fort of Attok was frustrated by the vigilance
of Major Lawrence, who dispatched 450 men to
overawe the garrison. Lieutenant Nicolson had been
sent from Peshawur to Hussun Abdall. There was
no truth in the report circulated that two of the as
sistants were in durance.

The outbreak at Kandy, in the island of Ceylon,
happily occasioning m )re alarm than actull dam age,
had been completely suppressed by the Local G.
vernment. Our advices from Western India affirm
that the authorities there did not consider it pro-
bable any troops would be required to be dispatched
from Bombay to the assistance of the Ceylon Govern-
ment.

It is affirmed that the Governor-General no longer
contemplates proceeding to the north west provinces
at the close of the year. and that any extraordinary
powers necessary for the conduct of military opera-
tions will be assumed by the Resident of Lahore.
Another remittance of .50 lakhs had, we learn, been
ordered for the account of the India Company, of
which 30 lakhs are said to be from Bengal, and the
remainder from Madras and Bombay. The exchange
on bills in Bengal is said to be at a lower rate than
ever was known before, and the Company's terms of
exchange being considerably higher than that of the
banks had almost stopped offers for hypothecation.
A large amount of specie had been shipped by private
parties at Bombay for England by the overland
route.

The Callian Railway project has been taken up
very warmly in the Western Presidency, and there
seems little doubt from the demand of shares that the
project will ultimately be carried into operation. The
applications for shares (Si. each) up to the 29th of
July amounted to 7,319, in addition to the 7,741
originally allotted in Bombay. A list of the sub-
scribers has arrived by this mail.

COMMERCIAL AND MARKETS.
(From the Telegraph and Courier.)
Bosin IT, AUG. 31—The present report extends
over a period of six weeks, and the sales have been to
a considerable extent, although the bulk of them have
been made in the last fortnight. During the first
two weeks scarcely any business was done, dealers
apprehending an unpropitious harvest, owing to the
prevalence of hot, dry, and unseasonable weather.
About the 10th of August better accounts were
received from the Mofussil of the state of the weather
and crops, and dealers entered the market, evidently
disposed to lay in stocks for the season. Prices have
not, however, improved; indeed, making allowances
for the decline in the rates of exchange, the. prices
obtained for nearly all descriptions of imports, as yet,
will prove anything but remunerating.
Cotton Piece Goods—The inquiry for_ piece goods
has been to a fair extent; but the stocks have been
large enough to meet the demand. 40-inch grey
shirtings of low quality have been in most request.
45-inch have also been in demand, but the stock of
these being moderate the prices obtained have been,
in some instances, in advance of the highest rates
ruling at the close of the last season. Grey Mada-
pollarns, of inferior quality, have been sold at tolerably
fair rates. Latterly, however, the demand has
not been met by holders in proportion to the appa-
rent requirements of dealers, owing to the most un-
precedented low rates of exchange. The market
being but scantily supplied with grey mulls, the
transactions in them have been limited; and if stocks
continue light, improvements in price may be soon
anticipated. Grey jacconets, which have been sold in
considerable quantities, have scarcely realised pro-
fitable returns. Very few sales have as yet taken
place in grey domestics, the season being scarcely
sufficiently far advanced for large transactions in
them ; we think, upon the whole, that the market for
grey manufactured goods is in a healthier state, but
transactions have been more limited than at the cor-
responding period of any year for many past seasons.
The above remarks are, to some extent, applicable
to this market for bleached goods. The demand for
white piece goods is ev:ry year diminishing,
.and it
may be generally remarked that, excepting in low
qualities of shirtings, jacconets, and twills, the rates
realised prove very unremunerating to importers.
Cotton Yarn—The transactions have been to a
considerable extent; prices have not fluctuated much.
Stocks are very moderate, and the supplies on the
way will, we think, meet with a good market.
Cochineal—During the month there has been some
inquiry for the article from dealers in Guzerat. The
sales reported are 11,0001bs, at 2r 13a ; 6501b5, at
3r Ba.
Metals—The demand for English bar-iron has
been to a small extent. Square nail•rod has been
sold at a reduction on previous rates. Of Swedish
iron there is but little in the market. Spelter has
experienced a slight improvement in value. Copper
of all kinds is unchanged in value.
Beer-275 hhds Bass at Rs 70 per hhd ; 275 All-
sopp's, 70 do ; 50 do, 70 do ; 4.0 Hodgson's, 60 do ;
13 Allsopp s, 70 do; 20_ Worthington's and Robert's,
55 do; 20 Stevens's, 53 do; 100 Tennent's, 50 do;
20 do (porter), 40 do. The stock of Allsopp and
Bass is very moderate.
Cottons—The purchases have been made chiefly for
the China market. Prices have been well maintained,
owing to the dealers being induced to hold out by the
low rates of freight and exchange. The exports to
Great Britain are 145,000 bales, and to China
109,000 bales, from the Ist of' January last, against
151,700 bales and 139,400 respectively to to the cor-

responding period of 1847. The stock at market is
of inferior quality.
Opium—ln the opium market there has been con-
siderable excitement for some time past, consequent
upon the receipt of favourable intelligence of the de-
, mind for the drug in China. Present quotations are
1,525 rs to 1,570 rs.
h'reights—O.ving to the prices of cotton continuing
too high to give inducement to shippers to engage ton-
nage, the rates of freight have been, and are still, very
low. 21 I.os may be considered the rate for Great
Britain, arid rupees 61 to 6 for China. There is
scarcely any prospect of an improvement taking
place i❑ the rates of freight, as tonnage is superabun-
dant.

MONEY MARK2T.—Money remains very easy, and
interest low. Exchange has slightly advanced since
last mail fur Baring's bills, which have sold during
the month at is 911 to 4d. Document bills have
been sold at is 91,1 and is 9:11, but there are not
many shipment to be drawn against. The batiks still
keep their rate at six months' sight at Is 9d; but
there i 3 not any great demand at their rates, except
for small sums. Owing to the prevailing low rates of
exchange about 7i lakhs of specie have been shipped
to England.
BANK SHARES.—The Bank of Bombay shares may
be quoted at 321 per cent premium, at which figure,
however, few are to be had. Oriental Bank shares
have advanced to 93 per cent, or 7 per cent discount,
and few sellers. Commercial Bank shares at 8.5 or 15
per cent discount. Agra Bank shares have been quoted
at 19 to 20 per cent premium.
Government Securities: remain much the same as
they were last month, and may now be quoted :
Five per Cent. Company's, 994 at par; Five per Cent.
Sicca s, 104 Co:'s rs ; Four per Cent. Sicca's, 89 Co.'s
rs. ; Four per Cent. Company's, 85k.
ORIENTAL BANK—RATES OF EXCHANGE.
Draughts-cm Loodonot6 months' sight, above
504
Ditto at 3 month's sight, above 201.
Ditto at 1 month's sight, above 20/.
Ditto at 1 day's sight, above 51. • ... 1 8
Circular notes payable throughout Europe, and
Draughts on Ireland and Scotland at 1 day's
sight .. . lB

Rates of Interest Allowed.—On current accounts,
subject to a commission of per cent, 5 per cent. ;
ditto, without commission, 2i ; deposit notes repay •
able on one month's notice, 3 ; ditto, ditto, three
months'ditto, 4; ditto, ditto, six months' ditto 5.

Rates of Interest and Discount Charged—On cash
credits on securities, 8 per cent. ; on loins govern-
ment securities, 6 ; on private bills without rebate,
not exceeding 2 months, 7; ditto ditto,: 3 months,
7 ; ditto ditto, 4 months, 8 ; commission on purchase
and sales of securities,
CALCUTTA, AUG. 16.—Exports—Sugar continues
in demand. Silk is in no better inquiry. Saltpetre
is in fair request. Rice, for England but little is
doing. Oilseeds are taken freely. Jute unobtainable.
Opium—A remarkable chang►e took place in the
price of this drug, at the sale of the 9th inst. Patna

(Ist lots) sold ii. 1,175 to 1,045 rupees. The value
has since lowered to 1,030, and yesterday came up to
1,070 per chest.
Indigo—Accounts from the districts continue fa-
vourable.

Imports—Cotton--Manchester manufacture brisk,
particularly for bleached, leading staples. Glasgow
fabrics sell at low prices and little inquiry. Mule
twist dull.

Metals—Copper, brisk. Sheathing has risen 2rs
per maund. Spelter is gradually on the rise. Arri-
vals of imports have been large, and a change is pos-
sible to disadvantage.
The money market continues to show progressive
ease. First-class bills, ls 9id at 6 months' sight.
Freights are well sustained. Sugar to Liverpool,
31 15s to 4/ ; to London, 4/ to 4/ 153 per ton, by first
class vessels.