The Sun.
London, England, 1858-01-09 00:00:00

THE GOLD FIELDS.

In the commercial intelligence of the Melbourne
Argus we read :
Export entries were passed at the Castoms to-day

(14tb), for 16,271 ounces of gold, for shipment to
England in the City of Sydney, via Suez, and in the
Oliver Lang and Donald M'Kay, direct. The Oliver
Lang cleared out with a total of 47,442 ounces,
exclusive of small quantities in the hands of passengers,
in the following parcels : Union Bank, 10,288 ounces ' •
Bank New South Wales, 7,500 do.; London Chartered
Bank, 7,452 do. ; English, Scottish, and Australian
Chartered Bank, 6,920 do.; Bank of Australasia, 5,253
do.; Bank of Victoria, 5,061 do.; Dennistoun Brothers
and Co., 4,469 do.; Mackay, Baines, and Co., 140
do. ; M. Evans, 106 do.; sundry small shipments, 250
do. The Melbourne bullion-brokers are buying at
the following prices :-31 IGs to 31 163 31 per ounce for
Castlemaine and Sandhurst; 31 163 61 to 31 163 9d for
Mount Korong ' • 3117 s to 3117 s 6d for Dunolly, Mary-
borough, Fiery Creek, and Avool ; 3/ 16s to 31 17s 6d
for Ararat and Pleasant Creek ; 31 17s 6d to 31 193 for
Ovens ; and 31 188 6d to 31 19s for Ballarat.
The quantities received by escort on Friday last were
fully up to the averdge of the last thirteen weeks.
The shipments during the week have been :

Ozs.'l"
47,412
8,309

By the Oliver Lang, for London
„ Austral, for London
Previous shipments, corrected by comparison
with the entries passed at the Customs 2,301,323

Total shipments for the year
Or, 98 tons 6 owt. 2 qrs. 221bs. 10 ounces ; the value of
which, at 41. per ounce, amounts to 9,440,9261.

The money market has been increasing in tightness
since our last summary was issued. Under the impree-
sion that shipments from Great Britain mast fall off,
speculators have been induced to buy when goods have
been offered at tempting rates. They have pro-
cured advances in the hope of realising is a rising
market, but they have held on until they have found a
money market tightening over their heads, airl sales
impossible except at a ruinous loss.
The advances mounted up from 5,106,9281. during the
first quarter ot 1856 to 8,194,860/ during the third quartnr
of 1857. The banks have determined to permit no further
increa.49 to take place, and their sudden carrying out of
this determination has caused much of the tightness
which now prevails. In this condition of affairs there
is a great call for caution in future financial operations.
There have been several failures since our last summary,
but none of sufficient importance for separate mention.
The 4th of the month, which was rather a heavy one for
November, passed off wall, but there is still a great de-
mand for advances. The banks now charge 7 per cent.
for discounting bills having under 95 days' currency,
and 8 per cent. minimum for those having over 95 days
to run. For rtnewals and for overdrawn accounts 10
per cent. is charged. Drafts are issued on England at
11 per cent. premium at 60 days' sight ; for amounts
under 501. at 2 per cent. premium at 30 days' sight.
Bills against gold are purchased at 1 per cent. premium.
Freight on gold, by direct steamers or sailing vessels,
31,1. per ounce, deliverable in London ; insurance, 11
per cent. ;by the overland route, per cont.—that is,
7d. per ounce as nearly a 4 possible ; insurance, 14 to 11
per cent.