The Sun.
London, England, 1848-02-02 00:00:00

INDIA.
COMMERCIAL NEWS.
(From the Bengal Hurharn Price Current.)
CALCUTTA, TUESDAY, DEC. 21.
The arrival of the Haddington, with the mail of the
24th of October, was announced on the evening of
the 6th inst. The letters were delivered during the
following day, the news, however, having been anti-
cipated by the Bombay express, which came in on the

same morning.
The news again proved of the most disastrous na-
ture. The distrust and depression previously pre-
vailing among all classes of our commercial commu-
nity was greatly increased, and a general feeling of
despondency succeeded the slight approach to a re•
newel of business previously noticeable. Two more
commercial firms were compelled to suspend payment,
one of old standing, and much respected.
It is needless to state that all business has since
been plunged into further and more serious confusion.
Depression and uncertainty are everywhere apparent,
nor has business any tendency to assume a more set-
tlad character. The consequences have been, lowering
rn 4rkets both for imports and exports. Native dealers
in produce, and in some instances European holders
of British goods, have been desirous to proceed with
the realisation of their stocks.
It is satisfactory to be able to report that, with the
exception of the two instances above noticed, no
further suspensions during the last ten days have
occurred among our mercantile community. At the
same time there is no abatement of distrust or removal
of confidence even in the most remote degree.
In produce a general decline has taken place, and,
combined with the low exchange and reduced cost of
freight, there has latterly been a slight tendency to-
wards a renewal of operations in some staples. Prices,
however, are still hardly on a par with those reported
in last mail. Buyers are few, and their transactions
unimportant. In sugar a decline of nearly Ir. per
md. has attracted rather more inquiry. Silk is still
without a buyer. Corahs are now offered at more
reasonable rates, and there have been a few inquiries,
though no sales as yet. Saltpetre is again lower
and a moderate business is in progress. Rice of all
kinds is to be had cheap, and new table for England
is in slight inquiry. Jute continues in demand, and
in other of the minor staples there is nothing of im-
portance to record, those suited for America being
generally in moderate request for that quarter.
Opium has again declined 40 rs. per chest, and is
now 980 rs. for Patna, with a stock of 80 chests of
that kind only.
In the import trade there have been no symptoms
of improved demand. Indeed, the depression
has been almost greater than at any period
since the commencement of the present
troubles. The destruction of confidence, and im-
possibility of obtaining discounts on any acceptances
European or native, or of selling Hoondees against
missions to the interior, take away from the usual
classes of buyers the ability, as well as the inclination
to purchase. Goods are now, however, beginning to
be sold off, and the general market during the last
week is decidedly lower. Until the system of inter-
nal trade is placed upon some other and more secure
footing, even the great reduction in the extent of all
shipinent to this country must fail to produce any
effect upon prices. Cotton goods, twist, and metals,
with scarce an exception, are only saleable at prices
under previous transactions.
Money is tight but not scarce. The Bank of
Bengal is known to have a full treasury, and in the
Bazaar there is no lack of funds, but little disposition
to employ them, except in such a manner that they
can be securely and easily made realisable. Com-
pany's paper has advanced considerably, chiefly from
rumours current of the long-talked-of closing of the
Five per Cent. Loan. Prices may now be quoted—
New Fives, 2 rs. to 8 re. ; Sicca -Fives, 2 12 rs. to
3 12 rs. ; Company's Fours, 12 8 rs. to 13 8 rs. dis.
Exchange became most unsettled on the arrival of
the steamer, and any bills offering, still considered
good, were taken at enhanced rates—document bills
with good security have been scarce, and in much
demand. The rates have since been stationary, and
no great amount of business has been done.
Present quotations are 6 m. s. with documents,
Is. 100. ; 6 m. s. Baring's credit, Is. 104 d. to Is. 11d.;
6 in. s. private bills, Is. 11d. to ls.
Freights to England have been gradually on the
decline, arrivals, though still much delayed, having
been rather more numerous, and from the present in-
action in the export market, there has been rather
more firmness latterly in the market, and Si. 15s. to
61. per ton are present quotations for sugar to London.
Indigo—The indigo season could not have
opened under more unfavourable auspices.
The miserable result of the London October
sales, and the crippled position of our general
trade, have produced a general inaction in the
market. There appears no inclination either among
English or French buyers to commence the opera-
tions of the season, and almost the only transactions
are for America. These are by private contract :
DC 77 chests Hurrah, Kishnagur, at Co.'s rs. 135
per f. md. ; DC 21 chests Native, Kishnagur, at
Co.'s rs. 112-8 per f. md.
A small public sale was held on the 17th instant,
which passed off with much flatness, prices ruling
about rs. 25 below those of last season.
Sugar—At the date of our last there was a fair
inquiry for the good and fine qualites of Benares.
The accounts by the steamer produced a complete
stoppage of demand, and holders being anxious
sellers, the market is now fully 1 r. per md. lower for
the better sorts. In the lover qualities the reduction
in value is even still greater, particularly for the in-
ferior Benares and Dumma sugars, of which a large
stock exists.
There has been during the last week a recom-
mencement of business in good and fine Benares,
though on a much reduced scale.
For brown sugar of all sorts, with Tirhoot kinds,
there is a complete stagnation of demand.
Exports from the Ist to the 16th of December,
1847 :—Great Britain, 62,720 mds.
Raw Silk—The silk market continues completely
inactive, and we believe that not a single maund has
changed hands for homeward shipment. The Novem-
ber bund has not been received in any quantity, and
present stocks here are chiefly ordinary Radanagore
and Bauleah sorts.
The large shipments in progress from China, and
the unremunerative state of the London market for
Bengal silks for so long a time prevent any approach
to a renewal of demand.
Prices are—Radanagore, Company's rs. 6 0 to 6 12
per b seer ; Hurripal, none ; Bauleah, Company's rs.
5 4 to 6 0 per f seer ; Cossimbazar, none ; Gonatea,
none ; Jungypore, none ; Commercelly, none.
Exports as above—Great Britain, 85 maunds.
Silk Piece C-oods—Corahs are now offered at re-
duced prices, and one or two parcels have been
taken in for inspection ; though as yet no actual sales
have taken place. Middling to good native Cossim-
bazar may be had at 100 to 110 company's rupees

per corge.
We quote prices of corahs nominal at Cossimbazar,
native Ist sort, Company's rs. 105 to 113 per corge.
Ditto, 2d ditto, 95rs. to 100 per corge.
Exports as above— Great Britain, corahs, pcs.
4,704 ; Choppahs, &c., pcs. 100; to North America,
silk goods, pcs. 395.
Saltpetre—J-The market for saltpetre is again lower,
by 6 to 8 annas per maund, and at this reduction a
moderate business is in progress, chiefly for America.
The reduced freights have brought a few buyers into
the market also for England.
Jute—Sales to a fair extent continue to be made,
prices remaining Co.'s rs. 11 to 12-8 per bale for
middling to good picked quality. Our quotations
are :—Shell lac, Ist sort, Co.'s rs. 10 8 to 11 8 ; ditto,
2d ditto, 9 0 to 10 0; ditto, 3d ditto, 7 8 to 8 3 per
b. md. ; lac dye, Ist sort, Co.'s rs., 40 to 55 ; ditto
2(1, 23 to 35 ; ditto, 3d ditto, 14 to 22 per b. md.;
Jute, Ist quality, new, 11 8 to 12 8 ; ditto, 2d ditto,
10 8 to 11 per bale ; linseed, Ist cleaned, 1 14 to 2 1
per b. rad.; mustard seed, 1 12 to 1 14 per b. md.;
safflower, nominal.
Cotton—A sale of Nagpore cotton at Co.'s rs. 11 4
per f. md. is reported. Exports as above—Great Bri-
tain none. China, 4,379 Ind. mds.
Opium.—The market has remained drooping
throughout, and Patna has been quoted as low as
Co.'s rs. 975 per chest. The stock is now reduced to
an insignificant amount, and there is no business
doing in the drug.
Quotations yesterday were—Patna, Co.'s rs. 980
to 985 ; Benares, Co:.'s rs. 955 to 960 per chest.
Exports as above—China, 2,064 ; Singapore and
Penang, 443 ; other places, 2 chests.
Freights—The market for tonnage was
.unsettled
after the arrival of the steamer, and from the scarcity
cf produce offering, and firmness of shippers, the rates
of homeward freightage have gradually retrograded to
our present quotations.
For Liverpool and London—Saltpetre, 51. 10s. to
51.158., sugar, 51. 155. to 61., rice, 51. 15s. to 6/. 6s.
per ton of 20 cwt. ; hides, 6/. to 61. 10s. per ton of 14
cwt.; jute, Si. 2s. to 51. ss. per ton of 5 bales; raw
silk, 51. 15s. to 6/. 6s. per ton of 10 cwt. ; silk piece
goods and indigo, Si. 15s. to 61., shell lac and lac dye,
Si ss. to Si. 103. per ton of 50 c. ft.
For Mauritius.—Rice, 2.0 to 2.4 Co.'s rs. per bag
nominal.
For China.—Cotton, nominal ; opium 7 dolls. to 8
dolls. per chest.

IMPORTS.
Cotton Goods.—The market has relapsed into
settled dulness, and nothing else can be expected until
the usual operations of trade with the interior are
resumed, and confidence throughout the whole mer-
cantile community in some degree revived. There
has been a tendency on the part of some holders to
force sales, chicfly for cash, and prices of almost all
staples have in consequence given way, and have still
a further downward tendency.
Gray skirtings are still saleable, and the accounts
from liirzapore for these fabrics are favourable. In
some instances, however, they are offered here at a
reduction upon previous rates in exchange for cash,