The Sun.
London, England, 1860-05-28 00:00:00

CHINA.

By this arrival we have papers from Hong Kong
to April 14; Shanghai, April 7. The following is
from the summary of the China 2ilail :
We mentioned in our last summary that the
ultimatum requiring the Imperial Government to
make a full apology, to admit a vessel of war to
Tien-tsin, and to admit Mr. Bruce to Pekin, had
been handed over to the Chinese authorities at
Shanghai on the Bth March. The answer which
has been received is still kept secret, notwithstand-
ing the large commercial interests which will be
affected by it ; and the most contradictory rumours
are in circulation in regard to it, from a positive
acceptance to a positive denial. The Chinese say it
has been accepted on the condition that the expe-
ditionary force be sent away, and we thick this is
not the least probable of the rumours.

All that the envoys have allowed to transpire is
that they consider the answer which has been re-
turned as " unsatisfactory ;" but it is probable that
there may be two opinions on that subject when the
reply is made public. We are strongly inclined to
conclude, from all we can gather on the subject,
that the reply was conciliatory, peaceful, and such
as the Chinese hoped and probably expected would
be considered acceptable. This probably gave rise
to the general report and belief among them that
the ultimatum had been accepted. The dissatis-
faction with it by the plenipotentiaries is probably
based on small or technical grounds. By rejecting
they will be able to demand a large indemnity in
addition ; and this indemnity is what the French
particularly desired to wedge in. They are now in
a position, on arrival at the Peiho, to repeat the
ultimatum, with a large indemnity added; and
before the presence of the force that will be assem-
bled, it is probable that the Chinese will yield all
that can be asked, as in fact they most likely thought
they had already yielded all the essentials of the
first ultimatum.

A number of troops are now quartered in tents
on the peninsula opposite Hong Kong, and a wooden
storehouse is being erected ; but there is no ap-
pearance as yet of the land being occupied for more
permanent purposes. The Hon. Mr. Adams, acting
chief justice, has been made a member of the Exe-
cutive Council of Hong Kong.

CHINA COMMERCIAL INTELLIGENCE.
HONG KONG, APRIL 14.
_ _

We aro unable to report an improved state of the
market generally, the prevailing dulness with one
or two exceptions, having continued throughout
the fortnight.
COTTON.—We are happy to notice an improve-
ment in this staple, prices having advanced, and
appear well supported.
OPIIIM.—There has been a moderate demand for
opium since last mail, owing principally to the dis-
couraging news from Shanghae. New Patna has
been maintained in price at, 782 dols. 50c. to 785
dols. per chest ; old has advanced to 807 dols. 50c.
There has been a fair demand for Benares through-
out the fortnight at 770 dols. to 772 dols. 50c. per
chest. Malwa, 602 dols. 50e. to 607 dols. 50c., and
has been in moderate demand. Turkey, 590 dol.&
per picul, nominal.
TONNAGE.—We do not hear of more vessels being
taken up for her Majesty's service, such as are at
present wanted being required to be of certain ton-
nage and light draught of water.
EXCHANGE has not fluctuated much, but closing
rates show a downward tendency, for which we are
unable to account. Bank paper, 4s. Jed. ; , credits,.
4s. 92d. to 4s. 10d. ; Bank on Bombay, Its. 226 to
227 per 100 dols.; on Calcutta, Rs, 226 to 227 per