The Sun.
London, England, 1848-01-03 00:00:00

TTIE SUN, LONDON,

COMMERCIAL INTELLIGENCE.

REPORT ON THE STATE OF THE BOMBAY MARKETS, FROM
THE 15TH TO THE 30TII of NOVEMBER INCLUSIVE.

TIiESDAY AFTERNOON, FIVE O'CLOCK, Nov. 30.
Since our report per last mail, our market for im-
ports generally has been very steady, while that for
exports has been quiet, pending the arrival of the
overland mail from London of the 25th of October.
This reached us only yesterday, and the accounts
brought by it have .realised the worst apprehensions
that were created by the intelligence received by
the two preceding mails. A confident hope is, how-
ever indulged in that the ensuing one will be the
messenger of more welcome tidings, i❑ consequence of
the measure that was resolved upon being adopted by the
Bank of England, at the recommendation of Government,
for alleviating the commercial distress of the country, and
restoring confidence, by discounts and advances upon
approved securities. Bombay has escaped in a most
wonderful manner the conseauences of the fearful crisis
at home, for, with the exception of one firm, which has
been under the necessity of suspending its payments. we
do not hear that our mercantile community have suffered.
losses to any serious extent. Our market fur imports is
not likely to be much, if at all, prejudicially affected by
the intelligence received, as most descriptions of
British manufactured stocks are now low, and, as far as
we ca❑ ascertain, in the hands of parties not disposed to
realise hastily, except at paying prices. On the other
hand, the effect of the home accounts upon our export
market, and upon freights, must be of a very depressing
nature, but it is yet too soon for its development. The
exchange upon London has experienced a decline, ap-
proved bills having become muck dearer since the arrival
of the mail yesterday.
Cotton Piece Goods—The demand has been steady,
but scarcely so general or brisk as in the first week after
the Dewallee. Holders, however, have shown great
firmness, and the sales made have been at full, and for
some kinds of grey goods slightly improved, prices : the
inquiry has continued to run upon 40-inch shirting of
low quality, Madapollam, low to middling, and jaeconet,
all in the grey, and for the two first named a further
sdvance has been established—say, for shirting two
annas, and for Madapollam one to two annas per piece,
the same being scarce. Coarse heavy domestic 40-inch
is still wanted by the Arabs, but 36-inch width does not
participate in the demand, nor do the finer makes,
owing to the continued absence of the Persian dealers
from the market. Longcloth for dying is also inquired
for, and prices are well supported. In bleached goods
there is a good inquiry for low shirting and Madapor-
lam, but without improvement in prices, and the offers
being low and unremunerative, holders are very tena-
cious of selling, so that sales of these are limited, as in-
deed they are of all kinds of bleached goods from the
same cause. For low to middling Jacconet there is a
fair demand. but at low prices. All descriptions of fancy
goods are as before reported. Dyed twill cloth in
Turkey red of all widths is much wanted, and would
command higher prices. Plain cloth is without change,
the range of prices for current qualities of 23 124 inch
28 yards, being 8i rs. to 84 rs. per piece. Prints of all
kinds are very dull, and difficult of sale.

Cotton Yarn—The large sales made on the eve of the
last mail's departure has given a quiet tone to the market
since, and the transactions reported for the present one
are limited, but at prices similar to last quotations.
Dyed—Orange is again inquired for, and some of
good quality is reported as sold at from annas 11i to 12
per lb., for an average of 405., say 100 hales containing
40,000 lbs. at the former, and 12 bales containing
2,200 lbs. at the latter price. Turkey red of the hest
quality, in 12i1b. bundles, has also been sold to the ex-
tent of 55 hales, at 1 r. 9 as. per lb. ; but inferior con-
tinue unusually depressed.
Woollens—Since last mail there has been no transac-
tions, but in the early part of the month a somewhat
large sale of cloth was effected, say 250 pieces scarlet, at
I r. per yard ; 250 pieces ditto at i r. per yard ; 300
pieces ditto at r. per yard, which prices are rather
under previous ones for smiliar qualities.
Metals—There has been a demand for Swedish bar
iron, and sales to the extent of 2,000 candies have been
effected at 49 rs. per candy. British is dull and not in-
quired for at present. Nail rod, both round and square, is
steady, but only a sale of 150 candies of the former re-
ported at 46 rs. per candy. Of sheet, 600 bundles have
been sold at rs. 3 as. per cwt —this description is rather
dull just now. Hoop is steady, as are also nails, but in
neither have we heard of any transactions. Swedish
steel is very dull, and has further receded in value,
900 cwt. tub with 100 cwt. Faggot having been sold at
8 rs. 13 as. per cwt. Spelter has been sold to the
extent of 2,500 cwt. at rs. 121, and 250 at rupees 12 rs.
5 as. per cwt. There is some disposition on the part of
dealers to ship this article to Calcutta, where the price
is much in advance of our quotations. Lead in de-
mand, but no sales. Copper—Nothing has been done
in it, and the market looks somewhat dull for it just
now. _ .

Cochineal— There is none in first hands, and the price
is nominally, 41 rs. per lb. Further sales to arrive have
been effected at 4i rs. at 3-16ths per lb. deliverable in
two months.
Saffron continues saleable at 13 rs. per lb.. at which
2001bs. are reported sold.
Spirits—The inquiry for brandy is still limited, and
the sales made show a further decline in price.
Beer—The stocks of all kinds in importers hands
are exhausted, and until the new makes its appear •
ante in April next, no further supplies can be looked for.
Marine Stores—We have heard of no doings under
this head, but prices may be considered as quoted.
Sundries—Red Lead has been sold to the extent of 300
cwt. at rupees 13i, and 200 at rupees per cwt., at
which the market is steady. Of Lametta, 25,000 corges
have been parted with in one sale at 2 rs. 9 as. per
corge, for silver and gold, which price is a slight im-
provement upon the last sale.

EXPORTS.

Cotton Wool The market has been very dull

throughout the fortnight, with gradually declining
prices; and the accounts to hand yesterday, by the
Overland Mail, cannot fail to accelerate their downward
course. To-day prices are nominally as quoted, but
there is nothing doing. A few days previous to the
mail's arrival a purchase of about 6,000 bales was re-
ported, say 3,000 Omrawutty at rs. 90 per candy, 2,500
Compta at rs. 85 to 86. With another of 1,700 bales
Broach at rs. 90 per candy. And which, with a few
trifling lots of various descriptions, comprise the
transactions since our last. The stock is now fast ac-
cumulating.
Opium—The last accounts from China have kept the
market depressed, and we quote the value of the
drug nominally, at from, rs. 800 to rs. 950 per chest,
according to quality. None of the new crop has yet
appeared.
Sheep's Wool—Khorassan arrives very slowly ; as
does also Mekran, the quality of which is very much
mixed, and is selling at from rs. 70 to 90 per candy.
What there is of Persian at market is also very inferior,
and we have not heard of any sales in it.
Tonnage—Although the small quantity of shipping
that was in port at the date of our last has not been in-
creased by a single arrival, the rate of freight to Great
Britain has continued to decline. Shortly after the
departure of the last mail an engagement for 1,000 bales
sheep's wool to Liverpool was made at 51. per ton, and
within the last few days 41. 10s. has been accepted for a
few hundred bales of cotton. For London there is no
vessel on the berth. We quote the rate to-day to Great
Britain nominally at 41. ss. per ton.
To China present quotation is 171 rs. per candy. The
attempt to introduce the system of freight per measure-
niit, as noticed in our last, has been unsuccessful, the
native merchants being generally averse to it.
Exchanges—On the arrival of the mail from China
with a good supply of bills, large transactions were done
at Is, Ild. for Bank, and is. 1 lid. for Baring's paper,
six months' sight ; but since the arrival of the mail from
England the rate has considerably receded, with an in-
creased demand for bank bills, owing to the increased
want of confidence in mercantile paper, and to-day the
rates cannot be quoted over ls. 10d. to ls. 101,1. for the
former, at six months' sight, and Is. 9}d. to Is. 91d. at
three months' sight—whilst Baring's bias are obtainable
with first rate local endorsements at Is. lOid. to Is. I Id.
six months' sight, at which a large amount has been ne-
gotiated.

Bombay Times office, Tuesday, Nov. 30.
Freighta,—To London and Liverpool, per ton, 41. ss.
nominal; to Clyde, —; to China, per candy, rs. 17k.
Exchanges—London, at 6 months' sight, is 10d to
Is 11d., at 3 months' sight, ls. 91d. per rupee. China,
at 60 days' sight, 212 rs. Madras, at 30 days' sight,
98 rs. per 100 Spanish dollars. Calcutta, at 60 days'
sight, 9S rs.; 30 days' sight, 99i rs. per 100 rs. Cal-
cutta, at sight, par.
Prices of Bullion—Sovereigns, each, 11 rs. anna;
dragons, each, 11 rs. 2 annas; Bank of England notes,
per £, 10 rs. 14 annas; Spanish dollars, per 100, 222}
rs.; German crowns, per 100, 216 rs.; Syce silver, per
100 tolas, 1031 rs. to 104 ri.; geld leaf, per tola (range
of quality), 161 to 17+.
Bank Shares—Bombay Bank Rs. 36 per cent. prem.;
Oriental Bank, Rs. 1,000 each (500 paid up) Rs. 20
ditto; Commercial Bank Rs. 5k ditto; Agra Bank (Rs.
500) Rs. 30 ditto; Bank of Madras (Rs. 1,000) R. 15
ditto.

Government Securities Five per Cent. Transfer
Loan, 100 rs. per Sicca nl. ; Fire per Cent. Loan 1825 •
26, 121 rs. per 100 Sicca; Five per Cent. Loan 1829-30,
103 rs. per 100 Sicca; Four per Cent. Loan 1832 33,
89 rs. per 100 Sicca; Four per Cent. Loan 1835-36, 66
rs. per 100 Co.'s; Five per Cent. Loan 1841-42, 991 S.
per 100 Co.'s; Four per Cent. Loan 1842.43, 861 rs.
per 100 Co.'s.

passing events, can regain its usual calmness, so as to
admit of business proceeding with customary regularity
and in the usual channels, and the immediate effect
of the precnt unfortunate state of affairs will doubtless
be a severe tightness of money and a general fall in
prices.
The Import Market has been less brisk than its active
opening after the holidays promised. This lessened
animation may perhaps be attributed partly to the
occasional holidays which have interrupted business,
and partly to the disorganised state of credit and want
of confidence which has prevailed. Towards the end of
the past week, however, a good deal of business was done
in cotton goods and mule twist, generally at previous,
but in some instances, at slightly advanced rates. Metals
have maintained their position.
In our Money Market there is but little change to
notice ; accommodation has been readily available on
undoubted security, and in the Bazaar advances could be
procured on Government securities at 6i to 7 per cent.
The news by the mail will have a very unfavourable
influence in the Money Market, which for some time
may be expected to continue tight and unsettled, there
being a considerable amount of acceptances now consi-
dered bad or doubtful, floating in the Bazaar. A further
decline of 8 annas per cent. has taken place on 2d 5 per
cent., 3d 5 per cent.. and on Company's and sicca rupees
4 per cent. The Bengal Coal Company have announced
a profit at the rate of 17 per cent. per annum, one half
of which is to be divided, and the remaining moiety
retained by the directors as a working fund, an equiva-
lent for which will be given in newly created shares. A
dividend at the rate of 12 per cent. per annum for the
past half-year is now in course of payment by the
North-Western Bank. For the current half-year 16 per
cent. is expected, 5 of which will be carried to the re-
serve fund, in conformity with the resolutions passed
some time ago, and under the operations of which the
reserve fund, already existing and invested in Govern-
ment stock, amounts to nearly 8 per cent. on the paid-up
capital of 40 lace. The Bank of Bengal's profits for the
past four months are equal to rs. 10-11.31 per cent. per
annum on stock.

Exchange has been in a most anomalous state, and
we can quote no ruling rates. Uncovered mercantile
paper is quite neglected,:and bills of the Agra, Oriental,
and North-Western Banks are much sought after.
Transactions have taken place in this kind of paper at
1-15 to 1-10 k for six months' sight. Bills covered by
shipping documents are inquired for, and at six months'
sight would command 1-11 to 1-11 k.
Freights have been firm, and tonnage has been in
good demand; a slight fall took place after the arrival
of the last mail, but afterwards rates regained their for-
mer level, and have continued firm at our quotations.
Indigo—The new indigo has begun to arrive. There
is!nothing to add to our previous reports as to the ex-
tent of the general crop, which we are still inclined to
think will be rather under than over 113,000 reds. We
have to report a sale by private contract of 100 chests
Boogie W.W., at rs. 125 per md. It is understood that
this sale was made in connexion with a bill transaction,
which may perhaps have had some influence in fixing
the price. A public sale of 26C chests was announced
to take place yesterday. The news by the mail, how •
ever, induced the proprietors to withdraw them ; 2OO
chests of this parcel were from the new crop, and con-
sisted of Kishnagur K.D. The quality of this parcel is
so far promising, that it possesses a mellow paste, but is
wanting in brightness and richness of colour. The re-
maining 60 chests were from last year's crop.
Exports from Ist instant up to date:—
Chests.

Fy. Aids.

To Great Britain ...
France ...
North America ...
Foreign Europe ...
Red Sea, Bombay, and China

••• 12

Total

Sugar—Transactions in this staple have been compa-
ratively of small amount. Prices have given way to the
extent of 4to 6 annas per maund. The market is bar©
of fine qualities, and the stocks of inferior sorts are in-
creasing by the accession of fresh arrivals.
Exports from Ist instant up to date:—
To Great Britain ... ... 107,730 mds.

Saltpetre—The stock of this article in the bazaar is
estimated, at present, at about 20,000 bags. The demand
for the North American market continues good, and
there has bees► some inquiry for French ports. There is
nothing doing fir the English market.
Export from Ist inst. up to.date :
To Great Britain ... 27,053 mds.
France 666 „
North America ... 12,557 „

Rice.—The shipments of rica consist of parcels pre-
viously contracted for, and there is nothing doing in the
way of purchases ; some of the recent failures in London
have disturbed the trade of the Mauritius, and there is
therefore but little hope of any amendment in our trade
with that island for the present.
Exports from Ist instant up to date :
To Great Britain ... ... 11,730 mds.
Mauritius ... ... 15,035 „
Mauritius, 15,525 ; and Bourbons, 23,000.
Raw Silk—The stock of the staple is unprecedent-
edly small. There is no transactions to report, and the
article is entirely neglected.
Exports from Ist instant up to date :
To Great Britain 70 mds. ; North America, 3 mds.
Silk Piece Goods—The stock of Combs goes on in-
creasing, while there is no outlet in the shape of sales,
of which we have none to report. Exports from Ist in-
stant up to date :—To Great Britain, Corahs, 9,332
pcs. ; Chappas and Bandanas, 1,014 pcs. North America
814 pcs.
Shell lac and lac dye—Shell lac is entirely neglected,
and the trifling shipments reported are for America.
The only demand for lac dye is for the same quarter.
Exports from Ist inst. up to date—Tol Great Britain,
33 u J.. shell lac., 396 mds. lac dye ; France, 23 mds.
lac dye ; N orth America, 298 mds. shell lac, 323 mids

lac dye.
Oil Seeds—The inquiry for America continues steady,
but freights are too high to admit of shipments being
made to England with any prospect of margin. For
the best cleaned rs. 2 to 24 can be obtained, and rs. 1 to
1-10 for uncleared.
Exports from Ist inst. up to date :
Linseed. Mustard Seed.
To Great Britain

France .
N. America -
Jute—The shipments of this article are going ou
briskly, and tonnage for it in eager request. The cur-
rent rates rs. 12 8 13 per bale.
Exports from Ist instant up to date :
To Great Britain, 16,106 mids.

Hides—There is still a disinclination to operate freely
for the British market, yet several good lots have been
placed since the last mail went out, such as the Ameri-
cans could not reach at. Fair to good quality slaugh-
tered have been purchased for 28 to 35 rs. per corge, but
as there are only a few parcels of that description come
yet into the market, the quantity procured is not con-
siderable. Several parcels have also been taken of dead
green, at rs. 12 to 20, but very few lots have yet arrived
of the better descriptions of this kind of hide. The
Americans are still considerable buyars; latterly, how-
ever, they have been operating with more caution. The
French are doing but little.
Exports from Ist inst. up to date:—
To Great Britain ... ... 29,282 pcs.
North America :... 30,734
Safflower—The market is quite bare of this vegetable
dye, and nothing can be done till the new crops arrive.
Exports from the Ist inst. up to date are—.
To Great Britain ... ... 36 mds.
Cotton—The late news from England has discouraged
operations in this wool, aed there is nothing doing. The
accounts received from the China market are rather
better, and some shipments are in progress for that
quarter.
Exports from Ist instant up to date are—
To Great Britain ... 248 bales 875 mds.
Singapore and China 1,560 5,688
Opium—The news from China, per Bintinck steamer,
via Grille, caused a fall of 20 to 30 rs. per chest, and the
tendency is still downwards. Stock in the Company's
Godowu on the evening of the 18th inst.i—Patna, new,
30 chests; old, 5 chests—Benares, new, 83 chests.