The Sun.
London, England, 1857-10-28 00:00:00

CALCUTTA MARKET.

CALCUTTA, Sept. 24.—Since our last issue under date
the 9th instant. we have been in receipt of London ad-
vices to the 10th ult.. by the P. and 0. Company's
steam ship Nubia. The commercial intelligence can
hardly be said to have produced any effect on our trade,
which cannot be expected to experience any marked
improvement so long as affairs in up-country in general
remain in that deplorable and disorderly state as for
some time past. The operations, therefore, during the
past fortnight have again been on a very limited scale.
Our produce market has continued without any alte-
ration, irregular supplies, high prices of many staple ar-
ticles a tight money market, and a gradually advancing
exchange, all having combined to curtail operations for
the British markets. Very little has been•doing in sugar.
Saltpetre lower in value, though stocks very small. No
change in rice. Raw silk has declined considerably. A.
small business has been done in Corahe, at reduced rates.
Linseed in better demand, and prices higher. Jute
lower. Lac dye unaltered. Shell lac continues in good
demand. Castor oil higher in value. Nothing done in
cutch.

The improvement in our Import Market, which we
reported in our last, though partial and caused by in-
creased local demand, has continued, and holders have
been enabled to effect sales in some instances at en-
hanced prices. But in the absence yet of an inquiry for
the Upper Provinces, the transactions must be con-
sidered limited, and the improvement temporary. Native
dealers have been more eager purchasers of grey shirtings,
jaconets, and madapollams, but as the annual Doorgah
Poojah holidays commenced yesterday and will continue
for nearly a fortnight, the interval till the departure of
the next mail will be marked by a total cessation of
business. Figured shirting,' and brocades have likewise
been in better request, at improved figures. The favour-
able position of the twist market has been maintained.
In metals the transactions are still confined to small pur-
chases for local requirements. Little doing in salt.
MONEY M&aLET._Although there has been no altera-
tion in the rates charged by the Bank of Bengal, the
position of this market at the present moment must be
considered more unfavourable than at the date of our last.
The difficulty experienced in obtaining accommodation
on deposit of undoubted securities, even at a very high
rate of interest, has caused much embarrassment among
commercial authorities. The Bank of Bengal authorities
continue to decline granting loans on deposit of Govern-
ment securities, except to parties of undoubted credit,
and then even in moderate sums and at much higher
margin than what has been fixed by themselves. We
understand in the Bazar Native capitalists have obtained
as high as 2 or 3 per cent. per month by advances in
opium ; but these rates, of course, must be considered as
the exceptions, and not the rule. By the last statement
of liabilities and assets of the Bank of Bengal for the
week ending on the 16th inst., we observe that the
amount of cash in the Bank has further deolined from
Rs. 77,12,305-4-2 on the 2d instant to Co.'s Ra.
58.53,409-6-6 which is about a third of the amount in
the Bank this time last year. The decrease has been
gradual for some time past, and might prove a source of
embarrassment to the Bank if not checked by timely
relief. We hear the Bank authorities have laterly de-
clined to discount even Mint Certificates and likewise
Government acceptantances having 15 days to run.
JOINT STOOL SHARES.—The position of the money-
market, and the inability of the Bengal Bank to advance
further on government securities, has naturally tended
to depress the market for joint-stock shares generally.
Holders, however, are Rot inclined to make sacrifices,
and the majority of our companies are in a sound and
satisfactory position. Bengal Bankshares can scarcely be
sold at our quotations. Agra Bank scrip is in favour.
Some North Western Bank shares have been sold at a
lower rate, the assets of this bank having been over
valued in the last half-yearly retuene. In Bengal Coal
shares or East Indian Coal shares we have heard of no
transactions. The deman for coal continues extensive,
the requirements of the Government and the railway
company being large. The India General has declared
a dividend of 80 rupees per share for the past half year,
and our quotations are ex dividend. The Steam Tug
Company has likewise a dividend of 60 rupees a share
for the past half year, or equal to 12 per cent. per
annum. In Ganges shares nothing is doing, and they
are in less favour.

GOVERNMENT SECURITIES.—The difficulty and in
some instances the impossibility of raising money for
immediate purposes on deposit of these papers, by which
holders have been placed under the necessity of making
beavp sacrifices to supply their wants, has had the effect
of causing a further depreciation in the value of all de-
scriptions of Government securities since our last. We
understand Co.'s Four per Cents. were placed as low as
rs. 34 per cent. discount ; but we are happy to observe
that a better feeling has prevailed during the last few
days, and capitalists having come forward and made
purchases, rates have improved partially. We quote to-
day Company's Fours at re. 28.80 to 29, and Fives at
re. 13.8 to 14 per cent. In Three-and-a-half and
Four-and-Half per Cents. scarcely anything doing and
value nominal. Theßank of Bengal is at present hold-
ing a lzirge amount of securities, in which loans had been
advanced to different parties who have been unable in
cmsequence of the great fall in the value to clear the securi-
Titles. The determination of the bank's authorities in
not throwing the papers on the market we consider a
very wise ono, as the opposite course would no doubt
have led to serious loss both to the parties and the bank,
but would have likewise caused a fearful depreciation of
the securities.
EXCHANGE: on Landon.—The market forlhe present
mail opened at 2-3 i to 2-34 for first-class credits, but
latterly the rates declined a little, and the same papers
were placed at 2-31. Some local bank bills were also
sold at first at 2-31, and subsequently at 2 3 per rupee.
At closing, the market had an up ward tendency. Docu-
ment bills have ruled at 2-31 d to 2 sad.
On China : A moderate amount of business has been
done at Re. 210 per 100 dole., there being few buyers.
Fnucsers.—The requirements of tonnage for all parts
proving moderato, in consequence of the shortness of
seeenee of ppnanew, combine.' —2,-, < -
high prices and the rise in the exchange, which have
checked shipments, our rates mince our last have assumed
a downward tendency. The available tonnage in the
harbour is still sufficiently large, and as a large addition
is expected before the end of the year, there is little dis-
position on the part of the shippers to enter into en-
gagements until after the holidays, which commenced
from yesterday, and will terminate about the 4th
proximo. For London we quote to-day 31., and
for Liverpool 21. 12s. Gd to 21. 15s. fur a fair de-
scription of cargo. No cargo has been offering for
the European continent, and no charters effected
for Australia, although for the latter place several
ships are on the berth, having come to our port under
charter. For the West Indies 21. 10s. has been accepted
for rice. From China, o Ning to receipt of favourable
news from that country of rice, considerable
con
engage-
ments have taken place, commencing at 1 dol. andre
than
90 at 05 cents, a bag, but at present not snoreTo
90 cents. are being offered for moderate-sized vessels.
the Maui itins rates have been declining graduallyfrum
Rs. 1-10 to 1-4 a bag. Very little goingforward to
France, one vessel only having with difficulty
dead weight at a heavy reduction in
retesteeeoabbtaleinheedr
to secure in retail 150 f, per ton for light goods. The
sup
plied,
several for the Straits of Malacca has been
several vessels having been fixed already.
offers are made for Bombay, and hardly 18 rs.
low
. a ton
(gunnies 14 cwt. to the ton)
vessels. For Madras and Colombo scarcely
for small
ly anything
offering, and we qu,ite 25 re. per ton as the rate for
small parcels. For Rangoon aan be got
and Moulmein our rates
have continued to rule at 15 t

CHINA.
HONG KONG, SEPT. 10.

Since the date of my letter we have very little
of excitement or incident, and wait anxiously for
the end of the month, when we may reasonably ex
pect to see Lord Elgin back from India. About till
same time we look for the advent of the Hon. Mr.
Reed from the United States and Baron Gros from
Franc, when the three diplomatists will probably
make a " fair start' for Pekin. It is said that the
Emperor has intimated by the vermillion pencil that
he knows what is going on, that be will not receive
any embassy, and will leave the barbarians to do
their best or worst—he, deluded creature, is pre-
pared to resist force by force. It is to be hoped
that no warlike measures will De attempted until

! we have an overpowering force. To take Canton
will be no difficult matter ; but the attempt to N.? 1,4
without a sufficient military force will end in dis-
grace—we must not despise the immense disparity
of numbers. If Lord Elgin's mission of peace and
diplomacy to Pekin fails—a result which everyone
here anticipates, war on a large scale will and must
be looked for, and it is notorious that several Rus-
sian officers have recently reached Pekin, under
pretext of being en route to the Russian settlement
at the mouth of the Amoor river.
The blockade of the Canton river is strictly ob-
served. Some prize junks have been taken while
attempting to break the blockade and brought
here, where the cargoes have been sold.
A French steamer and a gunboat have proceeded
to the Gulf of Tonquin, in consequence of ill-treat-
ment that some of the missionaries have met with
in Cochin China.
The America, a Russian man-of-war steamer,
arrived at Shanhai from the Amoor with a Russian
Admiral on board, who, it is said, is ona diplomatic
mission.
The United States' ship Portsmouth left Shang-
hai for Japan on the 26th of August.
The court-martial of the officers of the Transit
for the loss of the vessel resulted in the captain and
master being severely reprimanded.
Her Majesty's steamer Sampson returned on the
Ist inst., having towed her Majesty's steamer Sans-
pareil down the China Seas on her way to Calcutta.
Her Majesty's steamer Tribune returned from
Manilla on the Ist inst. On her way there she
went round the Pratus shoal, but no new wreck
was secn. there. We understand the commissariat
officer who went over to Manilla in the Tribune
found that arrangements to get fresh provisions
thence for the troops could be made should it be
necessary.

The American ship North Wind, bound from
Foochow to Loudon, tea laden, has put in here
dismasted.
His Imperial Majesty's ship Capricieuse arrived
from Ningpo on the 25th ult. She brought several
prisoners who were engaged in the late disturb-
ances at that place. The Portuguese Consul was
a passenger.
Amoy dates are to the sth of September. Very
little had been done iu imports.
In tea the transactions amounted to about
30,000 packages. Prices were higher.
Foochow advices are to the Ist of September. I
The settlements of tea comprised 54,000 packages.
Great eagerness was shown by buyers to obtain
teas, an f prices gradually advanced, and were
quoted 4 to 6 feels higher forcongous and souchongs,
and 2to 4 taels for oolongs. Four vessels were on
the berth for London.

A short time since the Foochow authorities
agreed to tade Mexican dollars at 2 per cent. dis-
count in payment for duties. They now object to
receive them except at market value. The papers
of American vessels are given up on proof that
Mexican dollars have been tendered in payment of
the duties. The British Consul requires that the
authorities be satisfied. This difference gives a pre-
ference to American vessels.

Mr. Tarrant, the editor and proprietor of the
Friend of China, was convicted at the criminal
session of a libel on Dr. Bridges, acting colonial
secretary, and sentenced to pay a fine of 1001. to
the Queen. The amount was at ones paid.

CHINA MARKETS.
EXCHANGE AND BULLION,
HONG KONG, Sept. 9.—Oriental Bank Corporation on
London at 6 months' sight, 4.9 i ; on India, 220 Rs. ;
gold leaves at 231 dole. per tael, and bar at 214 dole. to
221 doh. do. ; Canton sycee, nominal ; duty syeee' no-
minal ; other bills on London at 6 months' sight, 4.94 ;
on India, 221 Re.

SHANGHAI; Sept. I.—On London, 6,8 i per Tael. On
Calcutta, three days' sight, 305 re. per 100 taelg. On
B)mbay, 365 Rs do. Drafts on Hong-Hong, 26 per
cent. discount.

MANILLA, June s.—On London 6 months' eight,
4.3 ; 30 days' sight, 4.2. On Hong Kong and Macao
20 per cent. premium. On Amoy 28 per cent, do. On
Shanghae 50 per cent. do. Spanish and Mexican un-
chopped dollars 25 per cent. premium.

Y MARKET

AND
COMMERCIAL INTELLIGENCE

CITY, Two o'Cisccx.
The Liverpool Cotton Market yesterday closed
quietly, and all descriptions tended downwards.
The sales wera estimated at 1,500 bales. The
Railway Share Market closed with a more ani-
mated appearance, and values of all the fading
stocks were steady.
The report of the directors of the Great Indian
Peninsula Railway Company has just been issued.
The result of working the 88 miles for the half year
was as follows :—total receipts, 33,6101., being an
increase on the previous halt year of 9,055/. ; the
expenditure was 14,6951. of the receipts, leaving
a profit of 18,955/, to the credit of reverue ac-
counts. The line from Bombay to Coropoolee
and Wassind was in good working order, and
the second line from Bomb ay to Callian (Tarmah
to Carnal)) was opened for traffic in Feb. last. The
capital account shows the total receipts to have
been 3,348,9951.,
a balance with the East India Company and bankers
of 1,604,513/. which, after the expenditure, left
The advices from New York, although only one
day later show the effect of the suspension of specie
payments by the 'banks of that city and Boston.
As was confidently predicted a considerable advance
in the exchange had taken place, and the
quotation at the latest moment was at a
point
that will check the efflux of gold from this
side. Much stress has been laid upon the proba-
bility of orders being sent out for purchases of
goods and securities at their late depreciated values;
but the next accounts will probably state
that a recovery in prices has ensued, and the
remittances in this respect may also be di-
minished. There can be no doubt that the
cessation of payments in cash, although an extreme
measure was the best course that could have been
pursued under the circumstances, and if it had been
determined upon earlier, much mischief might have
been prevented. The advices, on the whole, are
viewed with increased satisfaction, for although
many additional failures had occurred, evi-
dence is afforded, that the crisis has been
to a great extent surmounted. Measures
will now be taken to repair the injury, so far as

ra
practicable, but some time must necessarily elapse 21
before business recovers from the violent commo- 10(
tion lately experienced. 2.!
At Hamburg the rate of discount has again ad- 2c
vanced to 8i per cent., but the fluctuations in this
St
market are so frequent and unimportant, that they 50
attract comparatively little notice. St
The half-yearly meeting of the Royal Mail Steam St
Packet Company has just been held—Capt. C. G. St
Mangles, M.P., in the chair. A dividend of 21. Sstt
per share was declared for the current half-year, 25
and the report was adopted unanimously. 25
In Lombard-street and at the Bank of England St
the applications for discount are represented to have St,
been rather extensive; but owing to the extensive 10
.supply commercial firms are enabled to obtain 20
the assistance they require in the current terms. 20
A slight concession is granted to first-rate houses, 10
but the failures in the American trade have induced
bill-brokers to look with some caution upon the lg
paper of any house connected with that country. St.
The rate of interest offered by the joint-stock banks st:
for deposits on call and short notice, insures them 10
a considerable supply, and there has consequently 50
been less inconvenience than was experienced when St.lo
the Bank first commenced its late restrictive policy. st.
The Silver Market remains firm, and it is expected E
that the remittances on the 4th proximo will be 20
rather heavy, as the East India Company intend to g,
send out a large quantity of specie. The slippers 25
have been awaiting the receipt of instructiors from
their correspondents before making active prepara- St
st.
tions, but as soon as the letters can be perused ar- 25
rangements will be made forthwith. Bar silver is 2020
quiet at ss. lid. per oz. standard. 50

The Funds have been very buoyant, and the
greater part of the decline experienced yesterday
has been recovered. This action is attributable to

the news from America, which has led to the im-
pression that gold will not be forwarded to New
York in such quantities as was anticipated.
Several of the bears have bought back, and this,
as usual, has produced an improved tone. The
Indian intelligence may also have assisted to oc-
casion this favourable change, but the acivicesby the
City of Washington have been the principal cause.
Consols have been dealt in as follows ;—For
money, 88i 881 j, 88k 89 ; while for the
account they are marked 881 4,88 i and
89k. The present quotations aro 88i 89 and 89 to
89! respectively. The New Three per Cents, are
quoted 881 i the Reduced, 871 to 88. Exchequer
Bills 15s. to 20s. discount, and the India Bonds
40s. Bank Stock has been as low as 205 and 207.
India Stock has improved to 2081 and 211 k.
Business in the Foreign Stock Market has con-
tinued rather dull, but prices still eaiibit an up-
ward tendency. Mexican 3 per Cens• are heavy
1
at 19. Turkish 6 per Cents. are $7l being
buoyant, and the 4 per Cents, are nooinal• Bra-
zilian 5 per Cents, are 99 ; BuenosAyres 6 per
Cents., 81i ; Russian 4i per Cents., 971; Sar-
dinian 5 per Cents., 90 ; and Dutch 2t per Cents.,

Stocks :—Grenada Deferred Bonds, 5 6 ;
The following
do. 3 per cents.,
are the nominal prices of
; Portuguese $ P Foreign
can, 181 19 ; Mexi-
-55
5v6 ran 4?
2 per Cents., 75 77 ;
Very moderate dealings 43 44 ; Russian 5
de. Deferred, per_ Cents., 105 ID7 ; do. 4
per Cents., 96 98 , er Cents.,
25;
26panish 3 per Cots., 40i 41 ;
Passives 51 6. 'I ; do. Certificates, 51 6 ; do.
the Railway Share Market this morning, and in
most instances lower
Erates are current. Great
Western receded sm. have been reported in
astern Counties, Brighton,
Manchester, Sheffield, a
about 15s. ; South-Wessiernnds, Oxford,Lincoln,
North-
Eastern (Berwick), ando North-Eastern (York),
i and South-Eastern, ; and Great Northern
Worcester,
and Wolverhampton, advanced about ss.
The Foreign lines were inactive, and
declined la several instances.
Dutch
receded . ;
5s Lombardo-teh
Rllienpeisrh cent.
Venetian 55., and Antwerp and Rotterdam about
ss. The Colonial undertakings were also at a slight
decline upon former values. East Indian have
receded ss. to 10s. ; Great Western of Canada, ss. ;
and Grand Trunk of Canada, about ss.
In Mining Shares only one transaction was re-
ported, viz., Wheal Trelawney, at 24k.
Joie, took Bank Shares exhibited a slight im-
preveruem. intim oi. .....,......0— --.1... ,„ . ri
to 105. ; London and County declined 5Z ;oriental
Bank, 108. ; and Union of Australia 15s.
Miscellaneous Shares are very dull, with little
variation to notice in prices.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK
(From the Official List;)
Business dote.
lank Stock a. 2OB 9 5 7
3 per cent. Reduced Annuities B7i 8
3 per Cent. Consols Av!miles BBlx 9
N;ew 3 per Cent. Annuities B3 7* N
Long Annuities, expire sth Jan. It6o 2 1.16 2
India Stock
Bonds, 4:1000 .......... ......
',itto, tinder £lOOO
Col sole tor Account, .......... .......
Ezthequer 81110, 2id.
m 00....... ............ "
8560 . ....................... .
Laall.•••••••••••••.•..• ••
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK'.
Brazilian 5 per Cent.
Buenos A yros Bonds, 6 per Cent. C
Mexican 3 per Cent
Russian Bonds, 1822, E St., 5 per Cont....
Ditto, 4i per Cent. ......... ............... 074 7
Sardinian Boas, 5 per Cent.
Swedish 4 per Cent.
Turkien Bonds, 6 per cent B7 t a
Dividends on the above payable in Lenten.
Dutch Exchange, 2* per Cent., 12 Guilders 634
T W13..701,00 g.
Console, money ....... oq.
Console account ............................... 8)

THE REV. J. M. Baum oN INDIA.—Ths
past celebrated
ail
divine, late chaplain to St. John's Cathedral., d
Calcutta,
bas consented, at the solicitation of Mr. mitobeif, of
Old Bond-street, to deliver a lecture on tic
present condition and future prospects
1 India, at
Exeter Hall on Monday evening next at e' ht o'clock,
with a view of augmenting the Inlia Relief find.
At the
present time a lecture from ; o em lent a Pelon as Mr.
Bellew, who i 3 so thoroughly amp tinted wth the sub-
ject, is of the utmost impoi woe and in immense
gathering is expected. The am egenilots
within the
hall will be under the immediate uporintencence of Mr.
Mitchell, so everything calculated to Aid b the corn.
fort of the audience will be attended tot 'florist in so
good a cause are worthy of the highest comnendatieu.

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