The Sun.
London, England, 1848-02-21 00:00:00

THE INDIGO TRADE.

At a meeting of the Union Bank of Calcutta, held
cn the 31st of December, the following resolution was
woposed.
" Resolved--That it is the opinion of the directors
that, in the present state of monetary affairs in Cal-
cutta, a much larger sum may be expected to bo re-
alised from the indigo belonging to the bank by sending
it to England for sale, than by selling it here, and that,
by drawing against the shipments, the bank would pro-
bably be put in possession of, funds to as great an amount
as it would be by sale here.,
Proposed by Sir T. E. TURTON, Bart. ; seconded by
W. P. GRANT, Esq.
Approved (Signed) JOHN STORM.
W. P. GRANT.
T. E. M. TURTON.
BURKINYOUNG.
M. RUSTOMJER.
T. CAIRD.
GEORGE SIIEARWOOD.
December 29, 1847. ADAM FREER SMITH.

After this was read, a great deal of discussion ensued,
when the following resolution was proposed by Mr. J.
JENKINS, and seconded by Mr. SUTHERLAND :
" That it is contrary to correct banking principles,
engaging in mercantile risk and speculating upon a
rising market, and therefore that the indigo be sold by
public auction in Calcutta."
To which Sir Tuomas TURTON proposed the follow-
ing amendment :
" Resolved—That it appears to this meeting that it
will be most for the advantage of the proprietors and
creditors of the Union Bank that the indigo of the bank
ba sent home for sale in the manner proposed by the
directors in their resolution of the 29th ultimo."

Seconded by G. SrLEAuwoon, Esq., and carriod.—
.1-iurkaru.

MESSRS. HODGKINSON AND CO.

At a meeting of creditors held at the office of Messrs.
liodgkin3on and Co., pursuant to advertisement, for the
purpose of considering who should be a fit and proper
person or persons to be recommended as assignee or
assignees of the estate of the insolvent firm, it was una-
nimously assented to that Mr. Itichurds do take the
chair.

Proposed by Mr. Robinson and seconded by Mr. Hun-
ter—" That it hying apparent no creoitor or creditors
of the firm is or are willing to act as assignee, and Mr.
William Limond, secretary to the Chamber of Com.
merce, having kindly consented to accept the trust, that
he be recommended to the Court as a fit person to be
appointed sole assignee of the estate of tho firm, as also
of the private estate."

From a statement hid on tho table, the following
appeared to be the aisets:—

Shipments on the way home .
Premium insurance on ditto
Estimated profit on 2,402 bales of jute
included in the above shipments

8,000

1,19,558

Estate of S. Phillip and Co., 12,2461.
ss. or
Assets in Calcutta

Total Rs. 2,83,490

Tho annexed are the Liabilities.
3. in! drawn on and accepted by Messrs.
S. Phillips and Co., 25,9811. 17s. Ild.
or
ills, ditto, returned unaccepted, 3,090/.

or
Ditto, ditto, on account of premium in-

surances, 2921. ss. 9d., or
Premium insurance unpaid

—lbid.

„ 30,000

2,922
2,817

Total Rs. 2,95,558

CANTON MARKETS.—DEc. 29.
EXPORTS.

Teas—Purchases for the English markets have been
comparatively small during the month ; this and the ap-
prehended difficulties have caused some reduction in the
rates current during the former part of the season. For
teas suitable for the American market the demand has
been very active throughout the month, and opening
prices have been well supported. Con gee, 22 chops have
been settled since our last report at 14 taels for common
to 22 taels for second monings—prices may be quoted
about 1 tael below last month's rates ; about 70 chops
remain in market. Souchong, about 2,500 chests are
Tenoned as sold at 20 to 28 taels for good, and 14 to
16 taels for common ; those prices show a reduction of
2 to 3 taels on our last quotations. Flowery Pekoe,
1,300 chests have been taken at 22 to 30 taels fur fair to
good. Scented orange and Caper, the demand has been
rather large; 3.500 halt•chests of the former at 21 to
25 taels, and fully 7,000 boxes of the latter at 15 to 17
taels, have been settled during the month. Of plain
orange Pekoe only 400 or 500 half chests remain, for
which 14 to 17 taels is asked. Of plaits caper none has
been made this season ; of the first crop Ning Yong,
the market is cleared, of the second crop about 2,000
half chests are in stock, for which 17 to 20 taels is
asked..
Green—An active demand has eiisted through the
month for young Hyson, llyson Skin, and, the tint st
llyson Imperial and Gunpowder, for the United States
markets ; of these a large proportion of the new qrop
quote yount, (Tyson Tae to in
has been settled ; _we
t f Lcargo
country 24 to 26 tads ; Moyune couritr
good
_st2l,lerior o. ine to 42 taels •
cargo 28 to 32 tads ;
ii.)on lair to good 31 to 40 tad,'
finest 44 to 60 taels.
ilirn.poenrial and Gunpowder
fine to finest 45 to 65 taelg.s.
kinds (Moyune)
common, no sales ; or 43 to
65.45 to 48 ; fine, 50 to
fair, 35 to 38 ; good, 40 to. 'ito
Hyson Skin Singh
53 to 57 to CO ; very. fine, 62 017
kind, cargo to superior, 14i to tads ; Moyune cargo
to good cargo. 15 to 17 taels ; superior, to fine, 18 to 25
tads ; finest 26 to 30 tads. Of Canton green, about
5,000 half chests of young hyson, at 13 to 14 taels; and
2,000 half chests of gunpowder, at 16 to 20 tads, have
been taken for England.
Silk—No transactions; 140 bales of inferior Tsatlee
in market, at the nominal prices of 410 dolls. to 440 dolls.;
Canton is 860 dolls. for No. 1; 340 dulls. for No. 2; and
320 dolls. fur No. 3.
BSugar—Large quantities continue to be shipped to
°doaMay. The rates are 5 dulls. SOs. fur No. 1, down to
lls. 30c. for No. 8, current quality. Sugar Candy,
7 dolls. 50e.
for fine.
Aluna—Can be had in any quantity at 1 doll. 75c.
at 10 ia
dol
caphor—.can be purchased, deliverable at
Macao,
quicksilver—Scarce and wanted 124 dolls. per picul
being the rate.
Vermillion—Also scarce,
at 62 dolls. for fine.
Frei. gh ts—Tonnage abudan t. 41. 10s. for England,
and 4%. dolls. tq 18 dolls. for thet-0 d States.
Ejaillanges—Owing to the diffieunitT ehree, few sales of
ding or goods have been made duri:gsht
aventh, and
money is scarce with the Chinese; this to the
nnfa.vourable accounts from England, has inducedd
ters to prefer treasure as a medium of remittancreenaaintd.
the demand for bills on London has consequently bees,
small. Rates vary from 441 to 4 5, according to the
wants of sellers. Accepted Company's bills on Bengal,
217 Rs.
Bullion—Gold has been down to 24 dolls, 60 c., but has