The Sun.
London, England, 1850-06-10 00:00:00

,-NE Y -and - COMMERCIAL NEWS.
CITY, TWO O'CLOCK.
/ The sales of Cotton at Liverpool on Saturday were
estimated at from 4,000 to 5,000 bales, of which 600
American were taken for export and 400 on speculation.
The market was heavy for American.—Railway Shares
were firm at about previous rates.
The Corn Market has been very inactive, and the
previous rates have been barely supported.
The attention directed to mining pursuits since rail-
ways appeared to offer less attraction to capitalists, jus-
titles the inquiry how far late results have compensated
the adventurers. In so far as foreign undertakings are
concerned, there can be no doubt that several of them,
which for years have yielded little or no return, have re-'
cently afforded much greater promise, and in a few in-
stances have allowed of the realisation of a respectable.
dividend. The Californian discoveries have shamed the
inertness of the Spanish American miners, and will lead
probably ere long to important consequences. if we
look nearer home, we shall find that new ground is
being worked in ornwall,- Devonshire, and the Welsh
principality. and in some cases with great success. The
most remarkable instance, however, that has come under
our observation is the Devonshire Great Cousolidated
Copper Mining Company. The amount paid up on each
share is but 11., and the selling price is somewhere, about
2501., we believe. In fact from the payment of the de-
posit the undertaking appears to have been carried out by
means of the profits, and how large these must have
been the fact of such enormous dividends being paid,
although so much property is made available, will best
attest. In the year.. endine the- Ist of March last. the
dividends amounted to 33/. 10s. per share on 1,024
shares, and the assets of the company, besides the lease
of the mine, and represented by machinery, cattle, fur-
niture, and 5,0001. in Exchequer bills, amounted to
72,935/. Taking the year's estimate of income and Ex-
,penditure, the balance shows an amount in cask sad
bibs to the credit of the companyad 13,3671., 17s. Bd_.,
being an increase on last year's account of 1,384/. 10s. 2d.
The estimate of liabilities and assets has been made on
the same principle as heretofore adopted, due allowance
being made for depreciation of stock ; and the balance
of 72,9351. lie. 7d., shown- an increase on the
year of assets over liabilities of 6,7041. 111.1 d.
This favourable and satisfactory 'state of affairs
is highly gratifying
to the directors, who are war-
ranted
tinuance in
of expressing their expectation of a con
them, from . the large quantity of ore still
remaining in the mines, amounting to upwards of 62,000
tons, and the general effective working of the concern,
reference to which will be made in the mina agent's re-
port. They trust the shareholders will be equally satis-
fied, seeing that they have not only received an increase
of dividend amounting to 3,5501., but also accumulated
property equal in value to nearly 7,000/. during the past
year. It is to be observed that the accounts are made
up to the Ist of March only, since which date some
large sales of ore have teen effected, which will enable
the directors to pay in the present month a dividend of
9/. per share, an announcement, undoubtedly, gratifying
to all.
"It is presumed the only conclusion to be drawn from
the foregoing particulars of the present state and condi-
tion of the mines is, that they are in a most prosperous
and efficient state of working. The completeness of the
necessary machinery--the perfect ventilation and well-
opened levels—and, above all, the extraordinary large
reserves of ore -still remaining in the mines, especially
at Wheal Josiah,' indicate.prosperity, which can only be
viewed with the greatest satisfaction. Although, in large
concerns like these, -there must necessarily be points
where the prospects are less encouraging, yet, as a whole,
they cannot be looked upon otherwise -than- indicating
productiveness for a long time to • come. The reserves
of ore alone, amounting in the aggregate to no less. than
62,230 tons, which, taken at the average value of the last
sale of ore, 61. Gs. per ton, would realise 392,049/., are,
in themselves, a.most undeniable source of wealth, which,
it is confidently expected, will be continuously reinforced
by fresh discoveries throughout these valuable concerns."
The steamer Hibernia-has arrived off Holyhead with
later advices, but the letters will not be delivered in town
to-day. - Great satisfaction has been Expressed at the in-
telligence of the' failure of the piratical expedition to
Cuba.
The continental advices are not of much interest in
a commercial view, but generally, the money markets
were easy, and trade was moderately good. The
reports from the smaller wool fairs state that they have
commenced under favourable auspices, and in some in-
stances the, whole supply was speedily cleared off,
-at decidedly advanced rates. The new clip
was -arriving, and the washing is - highly com-
mended. On English and French account there was not
sa much doing as for the Zollverein and Netherlands'
manufacturers. It is said that the Berlin dealers, being
large contractors, would be - great losers unless they
cuuld obtain an advance upon last year's rates. .
AoCoUnts from Egypt state that great- interest, was
taken there in the East Indian Railway, and that there
were hopes of a line being formed- from Alexandria to
Cairo.
The English Funds have been quiet, but are at ad-
vanced rates. The account-day- being near at hand,
will have an influence upon the quotations, ac-
cording as the speculators for a rise or fall are
shown to be in the ascendant, but while the foreign
political news continues satisfactory, and there is such
a superabundant supply of money, the Bulls, even, if
they have gone rather - deep with their opera-
tions. will obtain great facilities 'for carrying
over, and as. the payment of the dividends takes place
before the July account closet, they will be emboldened
, to operate. Consols ,have been quoted 96-1 to 97 for
Transfer, and , about per cent. above those rates
for the, July Account. The New Three;.and-a-Quarter
per Cents, have been marked 97i to 98. Exchequer-
bill have been quoted 68s. to 71s. premium.
In the Foreign Market there has been a
fair general business done. Mexican Bonds are
3l and Gi ensile Deferred, 44; Brazil Stock has been
at 88, and Peruvian at 77i to 78. Spanish Three
per Cents. have rallied to 37i and 38, upon
the Cuban news. Portuguese Five per Cents.
have been marked 331. Russian Bonds have
-realised 108. Dutch TwO-and-a-Half per Cents. have
been quoted 57 to *, and Danish Five per Cents. 984-.
In Railway Shares there is not much doing, but prices
are firm.

Consols •••
Do .Aecoui