The Sun.
London, England, 1848-09-25 00:00:00

S SEPTEMBER 25, 1818.
9

quiry, though transactions as yet, -in the native kinds,
are not large. Corahs have continued to be little wanted.
Saltpetre was lower, and in little request, -but more re-
cently the moderate freights, and now the warlike ac-
counts from France, have caused a briikermalicet. In
rice a little more business has been in progresP..• Shell
lac and lac dye sell freely for America. Safflower sells
slowly. Linseed is in request for both Englark3 and
America, and other oilseeds are also taken ior England.
Jute is wanted, but pending the arrival of the new croil;
little is to be had. Shipments to England of most ort,lie
minor staples live been increased by the decreased Ei3s,t
of toneage. With the United States of Americit'a
brisk business is iu progress.
There has b.en an extraordinary rise in the value Zf
opium during the past fortnight. The 9th sale was hell
on the llth of July, and the average of Patna was Co.''
rs. 899 67. The price in the bazaar has since heed'
1,240r5. and is now I,loOrs. per chest. There was a'
steady market for the drug at Co.'s rs. 915 to 925,"'
until the arrival, on July 23J, of the Anne—shortly
after which extensive purchases were made in the
bazaar—a report got abroad that this vessel had brou;ht
news from Penang, from the China steamer en route to
Galle, and that opium had advanced at Canton to 700
dolls, per chest—much excitement prevailed, the price
of Patna quickly rose to 1,140r5, and as no authentic ver-
sion of the news was known except to the fortunate re-
cipients, the China letters were anxiously awaited.
These arrived on the 22d instant, per Rob Roy, and the
report having been confirmed, another sudden rise took
place, and the highest point of 1,240r5. was reached. A
gradual decline has since ensued, and on Saturday quo•
Cations from the bazaar werel,loOrs. to 120 rs. per chest.
All accounts agree in stating that the rise in China is
purely the result of gambling operations. The impetus
given here to opium dealing and gambling has been
great. It is reviving all that latent spirit of speculation
in this drug which few mercantile natives are without, and
which has of late only been in abeyance from the effect
of the celebrated opium case of last season. There have
been few actual sales at these high rates, the tenth sale
of the season taking place on the 9th inst.
The position of the import market has been one of
sway and progressive Improvement. It can scarcely be
called a satisfactory one to the importer while exchange
is on the level of a bullion remittance. The internal
trade has, however, assumed a more healthy condition,
and a large amount of business has been done.
The demand for Manchester cottons has been large,
and though freely met by importers, the leading staples
are generally higher in value. Glasgow light goods
remain depressed, though the low prices current have
induced a few rather large purchases, chiefly of a spe-
culative nature.
Mule twist has been largely sold, and prices had ad-
vanced 2 to 3 pic per morah for the leading counts.
Latterly the quotations from the bazaar came rather
lower, but holders are firm. The sales of metals during
July have been unusually small. The long delay in the
setting in of the rains in the upper provinces, and conse-
quentfears of famine, made buyers afraid to come for-
ward. With accounts of rain a better inquiry has ap-
peared, and, in some instances, prices are higher. There
is still, however, no activity. Dealers are all aware of
the declining tendency of the prices of most metals in
England,and expectation of large shipments keeps
them from doing a large business.
The Money
irioney
Market in the bazaar, And so far as it ap-
plies to the native trade of the country, has gradually
assumed a more favourable appearance. Discounts of
native hoondees, or bills of exchange, are easy, and the
native bankers have relaxed their rules of business.
There can scarcely, howevere, be said to be any relaxa-
tion in favour of the European mercantile community,
or restoration of credit among them. There are few
whose acceptances, even at a short date, can be dis-
counted in the bazaar. Tho bank rate of interest for
loans on deposit of Company's paper is 6 per cent. Else-
where the accommodation can be had on more favourable
terms.

The easy position of monetary affairs has made Com-
pany's paper much more valuable. The New Fives were
on the Bth of July 1-Br. to 2r. discount, and are now,
Company's rs. 0.4 to 0.10 discount. The other loans
have also greatly improved, and should a further deduc-
tion of the rates of interest be made by the bank, a
considerable enhancement of value will probably take
place, particularly in the Fuur per Cents.
Quotations are—
New Fives, per cent. ... Rs. 0 4to Rs. 0 10 dis.
Sicca Fives, per cent. ... 2 Bto 3 0
Company's Fours, per cent. 13 8 14 0
Sicca Fours ... 14 8 15 0

There has been a great scarcity of good bills of ex-
change during the month, and a further decline has con-
sequently taken place. American credit bills have been
in much request, and holders have secured extreme rates.
Quotations for first-class six months' sight bills on Lon-
don are—
Documents ... ls. 9id. to ls. 91d. per rupee.

American credits I
Is. 9td. to ls. 9/1. per rupee.
Baring's or Brown's

Oriental Bank ls. 9d.
It has been rumoured that Government was about to
ship 30 lacs of silver to England, and the accounts-by
the mail are confirmatory, it being stated that 50 lacs
are ordered borne.
The supply of tonnage has continued abundant, and
shortly after the date of our last a material decline took
place. The rates to Liverpool sunk to 31. ss. to 3/. 10s.
for sugar, but from increased shipments and the firmness
of consignees, have again advanced, and wo quote 4/. per
ton as the present average rate to both London and Li-
verpool for sugar.
Istomo.—The weather during July has proved fa-
vourable for the manufacture of Indigo throughout the
chief producing districts of Bengal and Behar. The
rains have proved moderate, and the rivers have been
generally lower than usual at this season. There has
been little loss of plant from inundation, except from
the rise of the Ganges at Bheghulpore at the end of
June, and to a small extent in Tirhoot, and towards
Furreedpore and Daces. Some loss from blight has oc-
curred in Kishnaghur, but, generally speaking, a larger
proportion of the plant than usual has been cut in good
condition for manufacture. The average produce has
also been fair, except in Tirhoot, where the rain was
generally heavy during the first half of July.
Up to this time the progress of the season has cer-
tainly been fortunate, and the quantity of indigo made,
in excess of last year at this time. It is ascertained that
there will be a large deficiency in the outturn of the dis •
tricts above Allahabad, and with some reduction in
other districts from financial causes, it is the opinion of
those well-informed on the subject, that the total crop
cannot, with average weather in August, exceed
1,10,000 maunds.
Exports from the Ist of November, 1847, to the 3d of
August, 1848, are—

Chests. Fy Mds.
Great Britain ... ... 20,363 78,195
France ... ... ... 2,933 10,532
North America ... ... 1,116 3.551
Red Sea and Persian Gulf... 1,711 5,784
Other places 56 214

26,179 98,276
Sugar—The inquiry for sugar has been good through-
out the past month, and sales of all qualities have been
large.

The supply of BQnares has come in freely, and dealers
have met demand, by realizing steadily on arrival. The
value of this description differs little from what it was at
the date of our last, Co's. rs. 8 to 8-8 per md. being paid
fur good first quality.
Refined vacuum sorts have been in much request, and
refiners have found a ready market for their production,
higher prices having latterly been given.
Gurpatta date, and other second rate white kinds have
been shipped, though somewhat sparingly, to England.
All low sugars, browns, common Tirhoot sorts, and
Khaurs, have found a ready sale to the refiners at full
prices.
No change in the market has as yet been produced by
the account of the alteration proposed in the duty scale
by the home Ministry.

Prices are—
Benares firstquality,newCo.'srs. 7 12 to 8 8 per b. end.
Gurpatta date, old Co.'s rs ... 5 0— 6 0 do.
Khaurs, do. ... 3 0— 3 8 do.
Exports from August Ist to 3d—
Great Britain ... 18,955 maunds
Raw Silk—The new silk has been latterly in course of
arrival, though not in quantity. There has been a fair
inquiry for clean qualities of native silk, but transac-
tions have no: as yet bt en large. The reported sales are
rather under our quotations of's the Bth
Cult., viz.—
Co. R. o.'s R.
Radnagoro „,. 68to 7 0 per p. seer
Hurrip Ll •.. •.• 7 4—7 12 „
Cossical-,ar.ar ......7 0— 0 0 per p. f. sr.
Bauleah ... • ... 5 4 5 8
Silk Piece Goods—There hare been few sales of
corabs, particularly since the arrival of the mail of the
7th of June. Lower prices would now be taken by
holders.
We quote prices of corahs—
Cossimbazar native, Ist quality, Co.'s rs. 95 to 105 per corge.
Ditto 2d ditto, 81) to 90 ditto.
Saltpetre—The demand for England has experienced
some little fluctuation. Previous to the arrival of the
mail of the 7th of June there was a moderate inquiry
for good kinds, but the accounts of a fall of 10s. per cwt.,
brought by that mail, stopped operations altogether for a
time. The low freights afterwards current produced a
moderate inquiry, and during the last week a good deal
of business was done.
The Americans have been free buyers throughout.
an stock is getting very moderate.
The quotations are— Company's Rupees.
Gudna 6 to 6 12 per fy. and
Chuprah ... 5 6t05 12 „
Allygungo 6 oto 6 6 „

_
Refined...
Exports as above—
Great Britain 9,518 maunds.
North America ... 2,791
RlCE.—Thero have bum few purchases in progress
'or England, and prices are a little higher. Good table
is Co.'s rs. 2-1 to 2.4 per md., Lut inferior qualities can
be had at lower rates.
Moonghy and Ballam have been in steady demand for
the Mauritius and Bourbon.
Prices may be quoted—
Table cleaned ... Co.'s rs. 1 14 to 2 4 per b. md.
Moonghy, ditto —. 1 4to 1 5
13allaw, ditto 1 3to 1 4 —^

. . 6 Bto 7 0 „

[PRICE SD.

Exports-as above—
creat-Aritain ... 3,139- maunds.
US ..• 10,016
'-.Bottrbon ••• ..• 5,000
Shell lac—The Americus have been free buyers, and
prices paid have ranged from Co.'s rs. 7 to 9 8 per maund.
Lac dye—Middling nati%o dye has also been in good
request for America, and s-les to some extent have be(n
made at Co.'s rs. 18.12 to 21 per maund.
Jute—The new crop is scarcely due, and pending its
receipt the only jute proeuralde is of very middling kind,
Selling at Company's rupees 8 12 to 9 per bale.
Linseed—The demand for both England and America
has been large, and prices are maintained, last sides be-
tag at Company's rupees 2 1 to 2 3 for good quality.
IMustard seed is being freely shipped to England, and
-prices have latterly advanced to Company s rupees 2 to
2 1 'per maund.
Lifilower—Holders have not been free sellers, and
,Ictrca,mnirantioy4neksruarreeensOti:i to 2
l.arge. Those 1
per au
Gingen-rtungpore has brought Company's rupees 4
fol 4-8 per Maud for America.
m reportednd. range from
Ni.pcal—Tliere has been some inquiry for England.
Sales are at-Compail's rupees 9 8 to 9 12 per =mid.
Prices current-. arc..--
• -

Co.'s rp. Co.'s rp.
Shell Laos; Ist sort... W 0 to 11 0 per b and
.2d
.12 9 6
3d do: ... 7 8 0
Lac Dye, Ist sort..: ... 40. 0 ••=1- 55, , 0 -
- 2d do. 1.. • • 23 0 .--35" • 0
3d do. 15 0 22 . 0 --
Jute 2d quality ... —8 12 9- '4 per.bale
Linseed Ist cleaned 2-'
0 2 3 per 'b rad.
Safflower ... 18' 0 0
Exports from Aug. 1 to 3:—
Great Britain.
Lac Dye Ind. mds.
Hides pieces 24 526
Linseed Ind. mds. 2,792
Mustard seed 3,248
Sallower 27
Rum . gallons 3,870 ...
Catch Ind. mds. 281 - -
Cotton—No transaction for shipment is reported in
cotton.
Opium—The 9th sale of the season was held on the
11th of July, when the following was the result.—
Chests. Highest. Lowest. Average. Proceed.
Patna 1.795 910 890 899 6 7 16,14.450
Benares 775 870 860 864 7 8 6,69,973
The competition was good among all classes of buyers
including the Marwaries, who took more than at any
previous sale this season.
After this sale the price of Patna rose to 925 r., and
continued to range at 915 r. to 925 r., until large pur-
chases made on the arrival of the Anne, and rumours
that the prices in China had gone up to 700 dolls., set
speculation and excitement on the qui vitae. Prices rose
1,100 Co: rs. to 1,140 Co.'s rs., and fluctuated hourly,
until the 11,)b Roy brought the confirmation of the pre-
vious report. Another upward start took place, until
over 1,200r5. was reached, but subsequently a rather
rapid decline has taken place, and wo now quote, as the
last rates on Saturday :
r
Patna s. 1,100 to 1,120 per chest.
Benares
The tenth sale takes place on Wednesday the 9 9th inst.
Exports as above—

North Amgrica.
457
•4.800
...

Chests.
China
Singapore and Penang ... 30
Freights—An abundant supply of tonnage has been
at market during the month, and freights appeared
likely to keep very low, but increased shipments of
produce being thereby induced, a reduction was es-
tablished.