The Sun.
London, England, 1858-02-03 00:00:00

LONDON, WEDNESDAY EVENING, FEBRUARY 3, 1858.

INDIA.

column, has just been received by telegraph via
AUygbur

" Mynpoorie, Dec. 27, 3 P.m.
" 'Found the enemy this morning posted behind
some high trees a mile west of the city. lie opened
with four guns as I advanced.
" The Horse Artillery guns made a detour to
the right, supported by cavalry, the heavy guns
and infantry following. The enemy, finding himself
cut off, soon began to retreat.
" Took all his guns and cut up 250. As yet
none reported killed on our side.'
The following is from the Englishnian:—"
It is
generally reported that the Nana Sahib has been
taken prisoner. He was in disguise, but as he is
so well known to many officers his identity can be
re idily proved ;- the two brothers should be sent ,
down to Calcutta. The King of Delhi is in custody
of H. M.'s 52d, and itis expected he will soon be
at Ferozepore, on route to Bombay, where steps
will be taken to prevent his ever proving mis-
chievous again. The Prime Minister appears to be
still at large ; he is one who has played no incon-
siderable part in the Delhi massacre—a large re-
ward should be put on his head. Truly, the rule
and sovereignty of the Great Mogul_were short."
The Burkaru mentions, on the authority of a
private letter from Cawnpore, dated the 17th De-
cember, that a great discovery was made by our
troops there. It appears th?.11)--,Nana Sahib, before
taking to flight, threw all his' treasures and jewels

into two or three wells. Some budmashe= having
been observed very busy about the place, the locali-
tes were examined, and the concealed riches dis-
covered. This will be a glorious haul of prize
money for Brigadier Grant's force. Provisions
at Cawnpore are rather high, four loaves of bread
only being procurable for a rupee, and five se,-rs of
rice for the same sum. It was hoped, however,
that the arrival of stores would put a stop to the
scarcity, which must tell terribly upon the poorer
classes.

The following military intelligence is from the
Bombay Times:—

" The ship Athlete, Capt. Potter, from London,
arrived at Kurrachee on the 31st Dec., with 185
non-commissioned rank and file of the C 9-pounder
field battery of Royal Artillery. The following offi-
cers also arrived with the bAttery—Major Friizer,
Capt. Rennie, Lieuts. Tyler, Llewellyn, and Hill,
and Dr. Forshell.

" From Kurracheo we learn that the steamer
Bahiana, with the head-quarters of H.M.'s 98th
—consisting of 15 officers and 423 men, arrived
from England on the morning of the 2d Jan. The
left wing had previously arrived in the steamer
Ireland, and the whole of the corps it was reported
would march on Hyderabad, en route to Mooltau,
on the 6th insP.

" Major E. Wray, of the At tillery, Commissary
of OrdnAlica at Ahmedabad, is to be appointed
Commissary of Ordnance with the Itajpootana field
force, under the command of Major Roberts. Major
Wray is an officer of Crimean experience, having
served with the Turkish Contingent from its forma-
tion to the end of the war, including seven months
in the Crimea. _ _

Sir R. 0. Shake:pear, of the Bengal Artillery,
who has been nominated to conamtud the Northern
Division of the Bombay Army, served in Atfghanis-
tau in 1839 and 1842 (medal), and with the army
of the Punjab in 184 S-49, including the battles of
Chillianwallah and Goojerat, at the latter of which
l►e was wounded. For his services in the Punjab
ho received a medal and two clasps, with the brevet
rank of Li. ut.-Culonel.

" The steamer Bahiana, Capt. G. Sharp, 1,590
ton!, from Portsmouth, . Oct. 4, bound to Kiirra-
chee, arrived at Gallo on the 25th of Dec., with
the followini, °flit:errs and troops—Col. and Mrs.
Rainier and servant, Major Stlploton Captains
; Edwards, Richmond, and Reid Lieutenants
Queen and Heywood; Ensigns Griffin, Gregory,
Heatlicote, and Simpson ; Quartermaster Walsh,
Paymaster Leigh, Surgeon Stewart, Assistant-
Surgeon Colli4, and 423 men, head-quarters of the
98th Regiment.
" The head-quarter wing of the 1.1. th Regitnent
of Native infintry has beet“isrected to bo held -in
readiness to proceed to Broach, on being relieved
by a wing of the 1•1 Grenadier Regiment of N.I.
" The remaining portion of her Majesty's 72d
Highlanders, consisting of one major, four captains,
four lieutenant=, four ensign!, one assistant-sur-
geon, and 296 rank and file, arrived in Bombay on
the sth of January, from Portsmouth by the ship
Matilda Atheling.

ci Colonel E. ft. Wetherall, C. 8., Deputy-Quar-
termas'er-Gent-ral of Forces in India, arrived from
Calcutta yesterday by the steamer Singapore, to
act as Deputy-Adjutant-General of the Forces in
this Presidency, to which Col. Greathed, h r Ma-
jesty's 6th (King's) Regiment, now serving in
Oude, stands appointed. Col. Wetherall served as
Quartermaster-General to the army in the, Crimea
during the war in that country, and was latterly
at
the
finsorcher
rienaCieheinbar,
ebkeeinegutt:-,a, sfe rred to
appointed in the same capacity to the expedition-
India when

COMMERCIAL INTELLIGENCE.
(From, tite Bombay nmfs.)
Report the
2o4nlthoef
DSetcaetme obefrtthoetMheoBntehy
ofM jaarnkuetaryfr.om
The EngliBh mail of the 10th of December, per Pe •
solar and Oriental steamship Pekin, reached us on the
morning of Wednesday, the 6th inst.
other money msaerckuertiti
securities
are
emdeulyil tight,of
sale.an and the Govern.
went Our and

Cotton Piens GoodsPORTS.
IM
—The dullness of our
market has much increased since our last advises.
Almost every article exhibits a full in value. Gray long-
cloths are unusually scarce, and are in a favourable po-
sition ; gray shirtings have slightly declined ; gray
inadapollatns are dull of sale import
Bleached and Fancy Goods—These have upon the
whole continued unchanged. Book muslins show signs
of improvement. Lappets continue firm at former rates,
but the transactions have been limited.
Yar.s—The demand for both mule and water is good.
The imports of mule have been on a large scale.
Metals—There has been a large amount of business
transacted in copper, the prices of which were well sup-
ported. Thu market in this staple must be considered
as dull.

Cotton Wool— EXPORTS.
There have been no transactions in this
staple during the period of report ' the rates are nominal,
and the dealers anxiously look out
for the home reports.
Speculation among the natives, however, is unceasing.
Opium—The rates have consi&rably advanced since
our last, and we quote to-day 1,23ir. for Isidore and
Mundleseer.
Oil Seeds—There has been very little doing, if any, in
these goods. Linseed has declined.
Coffee—This staple maintains its value, but the de-
mand is growing less:,
pqper—The suppy is moderate, and there is a fair
inquiry at higher prices.
Hemp Las declined.
Tonnage—There is abundaice of tonnage in the har-
bour, and the rates have in consequence declined to
from 1/. to It. ss. for Liverpool and London.
Exchange—The rates of Exchange on London have
declined, We quote to-Jay 2s lid to 24 lid for bank,
and 2s 2d to 2s 2i.1. for documents at Six months' sight;
,dght, on China.
Rs, 21P per 100 dollars, at 60 days'

and 13. So'onions, opticians, 39,
i A DVS Ring Ind ENT.I-- SIGHT AND }lulu__ _
, A* SPECTACLES--
POWNRFUL. TELESCOPES -- OPERA, IL") AND Nur=mg
Albemarle.York Hotel, W.
udcsettlilturliceit:lee-and-a-half miles
By her Majesty's Royal Letters Patent for valuable and ex-
traordinary improvements in the most
sEttLrAertE,B•PieSca.dilly. Observe—opposite the
and a-half inches,
powerful and brilliant
Telescopes, Camp, Race-course, Opera, and Perspective
withsueh extraordinarya
the same telescope
Glasses, to know the distances. These Telescopes possess
Y Jupiter's moons,
some,oltiluisanititoewn a
can
ex et ni.a a eye-piece
persons power
, wei
distant and an object from 16 to 20 miles.
For the waist-
coat-pocket, and are of larger, and all sizes, with increasing
Saturn's ring, and the double stars ; with
powers 'accordingly. The Royal Exhibition, 1851. —A valu-
able, newly-invented, very small, powerful, Waistcoat-pocket
Glass, the size of a walnut, by which a person can be seen and
known one and a-half mile distant. .hey answer every pur-
pose on the Race-course and at the Opera-houses. Country
scenery and ships are clearly seen at 12 to 14 miles. They
aro invaluable for shooting, deer-stalking, yachting, to
sportsmen, gentlemen, gamekeepers, and tourists. Opera
Camp, Perspective, and
Race-course Glasses, with wonderful
powers. - Invaluable Preserving Spectacle Lenses of the
greatest transparent power. The.. great advantage derived
from this invention is, that vision impaired becomes pre-
served and strengthened and very aged persons are enabled
to employ their sight at the most minute occupation—can see
with those lenses of a much less magnify ing power—and
they do not require the frequent changes to the dan.
gerous effects of furtber powerful assistance. Persons
can be suited at the moss remote part of the world by send-
ing one of the glasses out at their spectacles in a letter, and
stating the distance from the eye they can read small print
with it, and those who have not made use of spectacles by
stating their age. Deafness.—Now Discovery.—The °spills,
Vibrator, an extraordinarily powerful, small, newly-invented
instrument for deatness, entirely different from all of tiers,
surpassing anything of the kind that has boon, or prob ably
can be, produced. Being of the same colour as the sk in, is
not perceptible. It enables deaf persons to hear distinct lvat
church and at public assemblies ; the unpleasant sensation of
singing noises in tho cars is entirely removed, and it agora,
all the assistance that possibly could be desired.-39. Alto.
maric•otrect, Piccadilly.— OPPoitcs the Yak Hotel, W,

AUSTRALIA.

• The date from Melbourno is Dea. 15. There is
not much political or general news, but the corn
mercial intelligence is important and unfavourable.
The following statement from the Melbourne Price
Current will explain the situation of affairs :
In our last circular, dated Nov. IG, we gave a detail
of the causes whose operation had produced the extra-
ordinary stagnation almost amounting to a crisis then
existing. We expressed some surprise that so few
failures had occurred. Up to that time only one or two
of moment had been announced. Scarcely, however,
had the mail for England left, when a Reties of stop-
pages took place, to such an extent as for a time
almost completely to destroy confidence and suspend
trade. We have before us a list of insolvencies of
fifteen firms, whose liabilities, ranging from 9,0001.
'o 90,0001., present an aggregate of 470,0001.
The crisis has been sharp, but fortunately it has
been short. The principal failures have extended over a
period of about six weeks, and we are happy to say that,
according to the opinions of both bankers and merchants,
the severity of the crisis is over, and it is believed that
few or no further failuree'will take place for the presort
in Melbourne. In the other seaports, and in the interior
townships, the mercantile cominunities have remained
comparatively sound and stable. It is possible that many
houses in the interior may be seriously affected by the
disastrous occurrences in Melbourne, and that some
may have to give, but at present there has been no such
result. On examining the list of houses that have sus-
pended payment the restricted effect of the insolvencies
id accounted for. Several are houses that have been

struggling s nce 1854 with the engagetaents ~f the pro
♦ious crisis, and most of the failures are those of houses
which four or five months ago speculated for a rise.
Scarcely any of these houses have been directly connected
with the goldfields. Within the last few days there have
been no fresh failures, or even rumours, an a feeling of
confidence arose, which for a time rapidiy increased.
Just as confidence was arising as above mentioned, it

received a rude sboek by the unprecedented occurrer•,ce
of a run upon the bank—the Union Bank of Aurtralis.
This continued for several days during the week, but at
the worst it was in a very mild form, and not more than

5C,0001 in gold were drawn. The panic, it is believed,
arose from some expressions used in a report of a meet-
ing of shareholders in London, in which it was mentioned
that some of the directors had received considerable ad-
vances. Not only were reports spread unfavourable to
the credit of some of the local directors, but the stability
of the bank itself was impugned. The folly of the run
was clearly recognised from the first by all men in busi-
ness, and latterly even by the most ignorant. To make
assurarce doubly sure, however, a meeting of the Cham-
ber of Commerce was called, at which a considerable
proportion of our chief mercantile firms attended, and
tbey passed a resolution expressing the highest confi-
dence in the stability of the Uniou Bank of Australia.
This has been abundantly effectual, and the run has
altogether ceased. We have personally ascertained that
the stories of enormous advances to directors and others

which have been circulated here, are absolutely untrue,
and it is equally untrue that there is any cause of doubt
in reference to the stability of the bank. In another
column we publish a statement of the assets and liabili-

ties of the various batiks here. If our readers will take
the trouble to strike a balance between the assets and

liabilities of the Union Back, within the colony, they
will find that the ♦alue at credit of that bank, represent-
ing the amount of capital employed in the colony, is
753,4201., being a larger amount than that of any other
bank. The institution also stands alone in being unchar•
tered, and the liability of each shareholder is unlimited.
The security to the public in dealing with the Unio❑
Bank is therefore much greater than that of any other

institution trading in the colonies. Jo addition to all
thi., it is only justice to those who have managed and
directed the hank to state, that during the last crisis its
losses by bad debts were comparatively trifling. Not-
withstanding these patent facts, the unthinking multi-
tude did "rush" the bank. From this unfortunate
occurrence serious evils must flow, the principal of which
will be the necessity for the bank restricting its accom-
modation ; and the inconvenience to its customers will
be felt by the commercial community generally ; a por-
tion of the burden will be thrown on the other banks,
which will again limit their accommodation ; and thus
the low prices now ruling will L‘conie still lower by this
absurd run, causing a continued want of confidence, lass
credit, and less money foi the use of trade.
We believe that about the beginning of the year all
the banks of Melbourne will alio / interest to their de•

positors, and that simultaneously with this movement it
is not unlikely that an advance of 1 per cent. on the
rates of discount will take place. Though there ma 3 be
an advance in the rates of discount, however, in the
event of the pressure on tha money market being re-
lieved the former rntss may be re-established.
It may be easily imagined that in present ciecutne.auces
trade has been paralysed. Ati the date of our last report
the mail had just arrived, and the nature' of the advices
bad not fully transpired. There was some hope, though
but faint, that it would bring intelligence of a partial
suspension of shipments, but to the deep disappointment
and dismay of importers, speculators, and holders gener-
ally, it was found that, instead of any cessation, the ex-
ports from Europe and other parts were on a greater
scale than ever. We do not hesitate to state that the
main cause of all our commercial disasters is over-
importation. We pointed out, in our last, that the chief
difficulty with which the mercantile body have at present
to contend is the loss sustained by the epeculAtions
entered into in May and June last, and the retirement
of bills given for the purchases. Had the shipments since
that period been within reasonable bounds, the specula-
tions in question would have been legitimate and fortunate.
As it ie, the over supplies have caused wide-spread disaster
and ruin. Again, much depends upon the news by the
present mail. If it prove that immoderate shipments are
continued, the worst features of the recent cri-is Rill
again appear, and the results may be ruinous not merely
to the holders of goods in Melbourne, but alto to reckless
shippers in the producing countries. It is stated, appa-
rently with truth, that much evil has been caused by the
extensive indent orders which have been executed, in
many instances for men of straw ; but this furnishes no
excuse for the speculative shippers at home. They have
access to the amplest information as to the quantities of
goods shipped in Britain for this market, and by these
they ought to have regulated their own shipments.
Iu particular, they are to blame for ignoring the fact
that Australia is now providing the greater part of
the agricultural produce requisite both for man and
beast. The Australian colonies will, if not this year,
certainly in the next, prodlee all the fisur required
by their inhabitants ; and, in regard to horse feed,
the imports henceforth should be greatly restricted.
Every year, we had almost said every month, the pro-
gress of agriculture modifies the extent of our import
trade ; and this important fact shippers cannot too care-
fully bear in mind. From accounts received from the
neighbouring colonies the crops of every description are
much average ; and the breadth under cultivation is
almost everywhere greatly increased. The only excep•
tion is in New South Wales, where the crops along the
course of some of the rivers have been destroyed by
floods. It is also ascertained that the crops in Europe
and America, in the northern hemisphere, are consider-
ably above an average ; and we may expect that a por-
tion of the surplus produce on the western seaboard of
America, both north and south, will be sent to Australia
as the only available market. It is a remarkable fact,
however, that an abundant crop does not always lead to
a depreciation of prices. It gives an impetus to trade,
money becomes more abundant, and there is a largely
increased consumption. While, therefore, we do not
calculate on a rise in breadstuffs, we du not anticipate
any serious decline.

With regard to trade generally in this city at present
we may observe that for a very long time storekeepers
in the interior, and second bands generally, have been
purchasing only for immediate wants. There is no rea-
son to believe that stocks in the interior, or in second
hands, are abundant ; and should the adviees by the
coming mail report a decrease of shipments there would
be an improvement ; but, even if a favourable
report should be received, it is believed tbat prices
generally would not rally for two months to cqme. As
matters stand, the trade throughout the country is con-
fined to immediate requirements. There is an absolute
cessation of speculative purchases.

Messrs. Katzenstein and Co., of Melbourne agents

for Messrs. Auisberg and Co., of Adeiaide,have
contradicted an erroneous statement in the Argus,
that tie affairs of the latter firm had been placed in
the Insolvent Court. The remark meant to apply
to Messrs. Amschel and Co.
The first session of the Victoria Parliament was

terminated by prorogation, and after a few days'
recess a new session opened for the purpose chiefly
of voting supplies for the ensuing year. The finan-
c. ialstatement of the Treasurer exhibits the revenues
in a satisfactory state, and a considerable reduction
in the expenditure. The estimated r.9?-enue and
expenditure are respectively very nearly three
mill,ons sterling. The sales of laud continue on a
very large scale. • The total revenue for 1857 is
estimated at 3,169,8981., and the expenditure
under 3,000,000/. The balance of surplus revenue
at the end of the year in the hands of government
will amount to nearly 40,000/. The estimated
proceeds of sales of public land in the year is
750,000/.
Government have called for tenders for the exe-
cution of upwards of 200 miles of railway. They
intend to borrow money in the London market, if
necesary, but not to force the debentures there ;
and the Treasurer anticipates that at the end of
next year he will be able to pay off the whole of the
railway loan of 641,000/., being the amount he
proposes to borrow for the works of the current
year.
An act has been passed to oblige the Chinese in
Victoria to take out a license, renewable every two
months, to reside in the colony. The license fees
will cost GI. per annum. The penalty for not pay-
ing this tax is that those who have no license are
not entitled to sue in any court of law.
The Melbourne Chamber of Commerce have pre-
sented a protest to the '
1395tmagster-CtQueral refs.