The Sun.
London, England, 1850-02-20 00:00:00

COMMERCIAL INTELLIGENCE.

REPORT ON THE STATE OF THE BOMBAY
MARKETS,
FROM JAN. 2 TO 16, INCLUSIVE.
,Bombay, Wednesday Evening, Jan. 16.
Our Money Market has been characterised by a good
deal of uneasiness throughout the past fortnight, caused
by the Bank of Bombay haring further raised its rates
of discount, and its example having been followed by
the other banks. We apprehend, however, that this
tightening of the screw has reference more to an antici-
pated than an existing scarcity of money, as we are told
the Shroffs in the bazaar have plenty of available cash,
which they are willing to lend at seven per cent. per
annum. The Bank measures alluded to have frightened
the holders of Government Securities, and prices have
declined. The amount of five per cent. paper offering
for sale is large, and we understand there are few or no
buyers of it at better than two per cent. discount for
large notes. On the other hand, holders are unwilling
to sell at that price. Our Share Market continues to
wear a healthy aspect, and prices bare not suffered from
the causes affecting other securities. The Bank of Bom-
bay has declared a dividend at the rate of six per cent.,
and the Commercial Bank one at the rate of eight per
cent. per annum. Oriental Bank Stock is held with firm-
ness at 18 to 18i percent. discount. The transfer books
of the Agra Bank being closed, there is nothing doing
in the-e shares.

We have this mail to report a general depression of
prices for all kinds of imported goody, owing to large ar-
rivals from home since our last. But little business has
been done in exports, and the decline in prices noticed
for imports has extended to the export market. Alto-
gether, the present state of trade in Bombay is any-
thing but cheering. There are several ♦easels in the
harbour unable to procure freight, owing to the extreme
backwardness of exporters of our great staple, Cotton,
to enter the market.
Cotton Piece Goods—Unless at reduced prices, sales
can with difficulty be effected in any varieties of Piece
Goods, owing to the absence of demand for up-country
markets, and those of Bombay being completely glutted.
Grey Goods—Domestics aro scarcely inquired after,
except by a few Arab dealers, who, however, will only
purchase to a limited extent, at reduced rates. The
sales during the fortnight amount to 1,383 pieces, at
from Rs. 51 to 14 per piece. The prices of Madapol-
lams, Long Cloths, Jacconets, and common Shirtinga
have all given way, while those of the better descrip-
tions of the latter have with difficulty been maintained;
indeed, a decline in these has become apparent.
The sales ha►e been respectively as follows:-12,125,
2,000, 13,100, and 18,770 pieces at Rs. 2k, at Rs.
27-16. Rs. 5: 21 at Rs. 5 13-16, Rs. 1 5-16 at R•. 21,
and Rs. 4at Rs. 5: 71 annas, per piece. T cloths have
sold to the extent of 11,100 pieces, at Its. 3 1-16 at Rs.
3: 71 annas per piece, which latter price is not, how-
ever, now obtainable. Bleached goods—Sales of Jaco-
nets have been made to extent of 15,800 pieces, at Rs. 2:
61 at Re. bi per piece. Stocks are large, and price on
the decline. The same remarks apply to Madapollams,
of which we have not heard of any sales. The finer
and middling qualities of the former have continued in
pretty fair request, and realise full pricer, but demand
for them is becoming somewhat dull. For the finer de-
scription of shirtings only does any inquiry exist.
1,550 pieces 36 inch by 40 yards have been disposed of
at Its. 41 to Rs. 6i per piece. Dyed goods—Ot twilled
cloths stocks are very low, and a good inquiry exists,
while for Turkey red plain the demand is dull. Prints
of unusual styles, and starched mulls. are in moderate
request. Fancy goods—Low lappets, fine book muslin.
and harness mulls, are dull; while dyed madapollams,
the ordinary descriptions of book muslins, and bleached
dhoties, find purchasers in small quantities at the rates
previously ruling.
Cotton Yarn—The sales amount to—water twist, 215

bales; mule, 225 bales; orange yarn, 60 bales; green
yarn, 5 bales; and green twist 1.5 bales. Of mule
twist, Nos. 30 to 50 are scarce, and the higher and
middling counts continue to bring the improved prices
ruling at last date; while for No. 20 there is no demand.
No 40 water is in request, large supplies of 30 and 20
being on hand. Scotch Turkey red is steady; green
in moderate demand; orange dull.
Woollens—Flannels have sold to extent of 22 pieces
—twelve of 27 by 46, at 10 annas per yard, and twenty
of 31 by 46, at 12 anna.. Cloths—There is no demand
for any but favourite marks, and the only sales we have
heard of are the following-12 trusses assorted ladies'
cloth, of German manufacture, 63 inches by 24 yds., at
Rs. 2 7-16 per yard; 20 pieces ladies' scarlet, 63 by 24,
at Rs. 2t; and 20 pieces long ells, scarlet, 31 by 24, at
RB. 12 per piece.
,
Saffron—A sale of 130 lbs. inferior quality, at Rs. 91.
per lb., has been effected. The best description would
realise
2 5-16ths per lb., have
been sold. Stocks are large, but demand is dull.
Beer—ln Hodgson 's we have beard of a sale of 25
h itnheeal --- price 400V.e, d a below,
IR° sw and is wanted.
C oc
hhds., at Rupees 38 per bhd, ; and of Allsopp's 692
dozen. London bottled pale ale has been sold at Rs. 4 per
dozen.
sales have had effect :-25
109 hhds. Singa-
pore Rum, at Rs. 1 per gallon ; 6 casks Colombo uhds. Spirits—Theßrandy,
at following
R 2iper
gallon ;
Ar-
rack, at Rs. 6 per gallon ; and 100 dozen Champagne,
at Rs. 22 per dozen. Gin is in moderate inquiry, at a
slightly reduced rate, while Brandy and Rum arc diffi-
cult of sale. _

Marine Stores—We have no sales to report. Paints,
cordagr, and canvas are as at last report. Twine has
slightly declined.
Paper—We have heard of a tale of 1,000 reams Ger-
man foolscap, at Rs. 4 3-16th per ream.
Metals—Dulness prevails in the Metal Market as well
as all others, and a decline in the price of nearly all
descriptions has taken place—sheet lead and sheet iron
being the only exceptions, these having slightly im-
proved ; and Swedish. bar and hoop have remained as
last reported. With copper, the bazaar is overstocked,
with no demand.