The Sun.
London, England, 1844-06-06 00:00:00

CE6ONIi EDITION (Evening hun)...is Published in Time "or the AFTERNOON TRAIN FS
•-•- ! •
rienother NEWS ZONDO.N.;93iii Ytit -1101.0% i
. •
..TOWN and COUNTRY CIRCULATION, at ONE CHARGE.

• ,s

•
drug, particularly Malwa qualities, which are represented-as dozen pints, at li rupees'per dezen, , ; and97o dozen soda water
.• . -
, being badly packed, and in many instances_ deficientiin bottles, at 1 rupee.
Weight. The piece goods market was -in, a healthy state. i Beer,--Bass: and Allsopp'S are nominal td 60 rs to 65 rs.
Considerable, salea.had been made at fair rates. At the nor,- The greater portion of recent arrivals are in execution of'
them ports trade was progressing favourably:. White And orders from Bombay, and of these no sales are reported:. The
Unbleached long cloths of fair quality command: goodprices. .folloWing are, the :only 'safes - reported 'for -publication a.--100
•In a .circular recently received froiriCanton;*e find the Rd, hhds Saunders's, at K 5 rs.4,loo4yhds Tennent's, at 50 rs; and
. lowing remarks with respect. to English trade in cotton-and. 50 hhds Rees's, at 45 rs. • '
woollen manufactures with China :—" We found .the demand " ' SPirits--Brandy continues firm at our former quotations,
'at the north' dull for 'prints and chintzes, and they, gave the and we-have beenadvised of a sale of 53 hhds and 53 quarter
. French and, Swiss goods a decided' preference over ours, casks at 24 rs to 2 ra.6 annals per gallon.
Handkerchiefs were in no demand, and we do not think tin ' , • EAsTEEN .raoht•CE.- •
' fancy goods (Glasgow, Paisley, and Manchestea. ginghams . , Cotton—Pretty large anintitiei have lately arrived of the
'-pullicates, figured' jacconets, spotted muslins, ' jeans -new crop, and; a considerable portion has been bought for the
satteans,. velveteens,. Sec.); are likely at -all' to' answeri 'China market. The purchases for the English market have
especially on
~:at, large scale. an estimating. ~, the 'fetid :been on a limited scale. ' buring.the month, prices varied
" amount of duties, which the Hong merchants previous 3rsto 4 rs per candy, but 'are now firm at about 1 r per candy
paid for us on our cotton goods, we findsa certain sum put higher than -the, quotations of last month. The following
.down 'among other .charges. as ‘so • muelt•• ' discount al-: transactions have been communicated to us :-100 candies
lowed to the trade.' While we consider that an increase: Oomrawyftty at 109 rs, 2,000 ditto at 111 rs, 100 ditto at 110
may be looked for in the consumption of .our cottons in; rs, 400 bales ditto at 109 re, 110-caddies Broach at 118 rs, 50
China, -we: have by no means the. same expectations re-* ditto at 116 rs, 125 candies Surat at 116 rs per candy..
gardiag our woollen manufactures, .and that-far,the fol,-1 Coffee—We have not heard or any transactions, and our
lowing reasons: first, our trade in woollens .is by no means quotations are nominal . --
a new -trade ;on the ether hand, it is a Very old ' trade ;it Opium—The quotations- of last month are rather advanced
has therefore had.its day, and, like many other old things, ! upon; ' • .
it is now going out of date. It . was entiiely a forced trade . Pepper—There halbeeri a gbod demand for pepper during
during the last years of the Company's mynopoly, and since ' the month, and pricea have risen 1 r to 2rs per candy.- 'We
the expiry of the Company's charter it has been- slowly and have been informed of. the, following transactions :-35 can -
gradually declining. The present ,reduction of, duties will, dies Malabar-at 49i'rs; 75 ditto ditto at, 54 re; 30 candies
no doubt, be a great boon to the woollen trade ; still, were Tellicberry at 52'its; 20 candies Bhutcoll at 65 rs. - •
Britishavoollens admitted duty free into, Chiaa, we should Wool—khorassan has advanced 10 rs per candy, andCuteli
consider it quite insufficient to, make the woollen trade what 15 rs since our lait,lut the other sorts remain unchanged. ,
it once was. _Secondly, rich people now-a-days prefer silks . freights—Freights havellactuated considerably during the
and skins. They wear'longer and look better. Poor people month. Our last' quotations were at 75s to 80s for Lyndon
prefer buying domestics, dyeing them; and wadding them and Liverpool; they soon afterwards gave way to 50s to 555,
with cotton; they are cheaper and warmer. Thirdly, Soo; then rallied to 60s to 635, but they are now again declining,
chow used to be our best market for woollens. When`rukien and cannot be quoted above 50s to 55s to. London, and 55s to
4the - Imperial-Commissioner . who died after the battle .of 60s to Liverpool, fur first class ships; and at In rs per candy
hinhai) was Governor of Soochow, he issued an edict coni— ; to China.
minding all his subordinate mandarins and families not to
wear_articles of foreign make, but to encourage the. native
manufactures.agreatblowTthoisouocrcwurrooTllenfeutrradoer. fiFvoeurythealyrs; thaii,;o,cotinind.
was
petition of Russian Woollens in the north has almost driven
us out of the market. They,told diet Shanghai and Ningpo,
that for one 'man that* dame to buy English woollens, a
dozen came to buy Russian. Fifthly, Belgian and Saxon
woollens ase also beginning to interfere seriously with our
' cloths at Canton. Dutch blankets are preferred to Eng-
lish, and some of them sell as high as ten dolls. to twelve dolls.
per pair. Large quantities of Saxon and Belgian ladies'
cloths now come out packed as English : the Chinese'pur-
chase them quite- as readily as the real English cloths,
and they can afford to be sold much cheaper." The;
estimated total value of goods imported into China is stated
at, 25,000,000 dolls., particulars of which we shall' pro-
bably give in a week or two. The' exports of tea to
Great Britain in the month. of February was, of 'black
5,330,4061b5., and of green 2,423,6291b5. ; total in February,
7,755,0421b5. The exports to Great Britain in eight months,
from Ist July, 1843, to' 29th February, 1844, in 66 vessels,
was,
.of black 29,480,3261b5., and of -green 5,766,453 ; total
in eight months, 35,246,7791b5. Robberies by night and by
day are still: of frequent occurrence, particularly in Hong-
Kong, where it is in contemplation to establish an efficient
harbour police establishment. On the authority of private
correspqndents, it is said that two opium clippers had been
seized by the Cbipese. officers, We observe, from - a state-
ment of the foreign trade with China, in respect to imports
recently received from Canton, that the total estimated
Amount of legal trade averages annually 11,205,370 dolls. ;
and the opium trade, at a rough estimate, 13,794,930 dolls. ;
giving a' total value of goods imported yearly into China,
25,000,000 dolls..",:yleldiag an estimated.. amount of duty.
under the" new' tariff, 456,275 taels.

• MONEY MARKET.
Government Securities have slightly declinad since ourlast
publicaliOn. The present quotations are :—Four per Cent.
Loan of 1832-33, 105, re to 106 rs; Four per Cent. Loan of
1835-86, 99i rs .ta 100 rs; Five per Cent. Loan of 1841-42;
110} rs to 111 rs ; Five per Cent. Loan of 1836, 1081 rs.
Exchange on England still' continues to fall, and the pre-
sent rate for bills at six months-sight cannot be quoted higher
'than ls. lOid. to ls. lop.; and for 30 days' bills, ls. 10d.
Exchange on Calcutta at 30 days' sight, 1001 rs. ; on Madras
tat sight, 100 rs. ; and on China at 60 days' sight, 214 rs per
100 dolls,_

Banks.—Bombay Bank Shares may be quoted at 45 to 46
per cent. premium; those of the Bank of Western India at
281 to 30 per cent.
Emilda—To London, 31. to 31. 55.; to Liverpool, 31. to
31. 55.; to Clyde, 3/. to 31.55..; to China, 15rs.; to ditto, opium,
..)er clipper, no quotation.
Exchanges.— Loudon, six months' sight, is 10id. ; Loridon,
thirty days' sight, is. 10d. , Calcutta, sixty days' sight, 10Ors.
ftans. to 100 rs. 12 ans: ; Madras, sixty days' sight, 99 rs.
ans. to 99 rs. 12 ans. ' • Madras, thirty days' sight, 99 rs. 12
cms. to 100 rs. 4 ane.; Madras, at sight, 100 rs. 4 ans. to 100
ts. 12 ans.; Canton, sixty days' sight, 215 to 216 rs. per 100
Sp,dlrs.

Company's Exchange in London on the 6th March, 1844.—
With Bengal and Madras, sixty days' sight, is 11d. ; on
Bombay, sixty days' sight, ls. 1 lid.
Prices of Bullion.—Sovereigns, each, 11 rs. and 2 ans.;
Bank,of England notes, per 11., 101 rs. 14 ans. ; Spanish dol-
lfu•s, per 100, 226 rs. to 2271 rs. ; German crowns, per 100,216
rs. to 217 rs. ; Sycee silver, per 100 tolas, 104 rs. ; gold leaf, per
tbla, 17 rs. to 17* rs.. • •
Bank Shares.—Bombayßank (1,000 rs.) 450 rs. to 460 rs.
premium per share; Bank of Western India (300 rs.) 145 is.
tO 150 rs. premium per share ; Agra Bank (500 rs.)180 rs. to
200 rs. premium per share.
GOvernment Securities.—Transfer loan, 115 rs. to 116 rs. ;
Five per Cent. loan, 1825.-6, 109 rs. to 1091 rs. ; Four per Cent.
loan, 1832-3, 105 i rs. tb 106 rs. ; Four per Cent. loan, 1835-6,
rs. to 100 rs. ; Five per Cent. loan, 1841-2, 1101 rs.
to 111 r&

. .
CALCUTTA.--Themost important item .of intelligence is the
eccount of the third opium sale- of the sewn, which took
place 'at Calcutta on the 15th April. The total proceeds of
the sale amount to 5468,276 'rs., or over half .a million.ster-
ling, leaving a clear profit to the Honourable Company of
about four hundred thousand pounds sterling: • • • - • - •
,i We beg to wait upon you with the subjoined report of our
third sale, which has just terminated. *The 'quantity brought
f4rward consisted ,of 2,890 chests Patna, and '1,3.00. Nests
enates, which'aold aifolloWs :-
1 ' Highest. .. Lowest. Average. ;On Monday the tenth annual meetin of the Share.:
Patna 1320 . 1230 1275 2 0 g
Benares •1265 . • 1165 •. . • '1217 'l2 .11 holders in this Banking Company took place at the offices
' The first lots Of -Patna were knocked (Town at 1260, when of the establishment, Moorgate-street.
it: gradually declined to, 1230; but again'rose, and finally J. S. Brownrigg. Esq., M.P., in the chair.
cy)sed at the former rate. The second division, which was The Secretary (Mr. Millikin) having read the adver-
cdnsiderab)y influenced by the extravagant rates given 6r tisement convening the meeting, and some preliininary
the Benares, opened at 1315, and about 200 lots were taken observations having been made in reference to reading
o at from .1310 to 1320, whenit afterwards declined to 1257. the report before the re-election of Directors,
;The Benares, which, as•usual, was sold intermediately, The CHAIRMAN said that before he read the report, he ,
opened at 1465, but after 50-lots had been 'dfspici.SO.of to one wished to state to the Proprietors that the Directors, on
party at 1175, rose inenediatelyito 1210, andime time reached the present occasion met them with great anxiety ; be-
es high as-1265. : ; •
se, they were desirous of laying before them some
The bidaings exhibitedmuch more fluctuation than at the t'•.all.
i specific information ,as to the general state of affairs of
tWo previous sales; owing to the competition 'caused by' ,the
• p
bazaar buyers, who purchased, we should"lniagine, nearly the Company. In .the resent report he thought they
two-thirds of the total quantity. would find- that such siie'cife information was afforded,
The failure of Messrs. Adam Scott and Co., is announced. and -when he had read it he should beg to be allowed to
.
. make a few observations on various points, to remove any
, • THE MONEY MARKET. •
•Hurkarii-office, Caldutta, April 20, 1844. doubts that might arise in the minds of Shareholders.
Since last week's issue, our money market has remained However, before doing this, he should wish to advert
very steady, with some disposition towards the' beginning 'of shortly to what had occurred at the last annual meet-
the month to briskness, and there was a symptom or tWo of ing. There were two or three points suggested then for
accommodation being in demand. This demand has rather the consideration of the Directors which had received
subsided again. '- : ~ • • . • their anxious attention. Some of those suggestions
Government Securities have been buoyant, and consider- would be found and alluded to in the course of the re-
ablatransactions have taken place. We have heard of four , port, and there was only one upon which they
per cent. Company'crupees changing hands at 12 annas ells- (the Directors) had :riot thought it their duty
count.
Exchange has been more lively, and some bills, it it un-
to act. That one was the suggestion that the re-
deMtood, have been let off at 1-11 A at, ten months' date. port should be • printed and published some few
Perhaps 1-10 i to 1-11 may be held up as wedium rates. , days before the meeting' took place. They had given ,
Bank Stock is much inquired after at our quotations. their best consideration to that subject, with great anxiety
am( &Lucas. • [Buy. Sell.] to comply with
..the .wish of those who advocated the
Berigal,Banklnr..e:..494.'s J. 4,000) Prem. 3,050 to 3,000 plap, but they remained of the 'same opinion as at the
Union Bank . . (Co.'s Rs. 1,000) Prem. 125 to 120 last meeting, namely, that it would,. .be impolitic for the
Agee Bank (Co.'s Rs, 500) Prem. , 200 to 190 interests of the Company to do so. There were no doubt
Mussoorie Bank (Co.'s Rs. 50 Prune• 60 to 'BO a great many arguments in favour of the course Pro-
Bank of Western India (Co.'s Rs. 300) Prem. 150 to 145
[Buy. 5e11.61 nosed ; but, in the minds of the. Directors, and in addi-
, GOVURNMENT SECURITIES.
iion to reasons formerly .urged, they did not do away
Bombay Stock Paper 5 per Cent. ...Prem. 14 oto 15 . ...
Prem. 6 Bto 5 8 with the objection that 'the publication of the report
5 per Cent.
Old Siecas ditto,according to num-1 prem. c 2 Bto 6 8 might be brought to act upon the value of the shares,
tiers
Second 4 ditto Disct. 1 oto 1 4 those who resided at a distance. Besides, there was the
New Company's 4 ditto Disct. .
0 14 to 1 2 other important objection, that the minds of Shareholders
New Company's 5 per Cent • Prem. •90to 8 8 might be unduly prejudiced by the publication of are
lituntrrius.—We have Teceived papers from the Mauritius port without necessary explanations, and hence' so long
of the 9th of March. The report -a the state of affairs of
the Mauritius bank, made to the proprietors for the twenty- as the Directors were allowed a discretion on the sub-
fourth half yearly period, ended 'on the 17th of January ject they thought it would be best to adhere to the , pre-
.1844, has been published. The nett profits for the half-year , -sent course of laying the report before the 'Shareholders
amount to. 20,204 f. 59e.-equal to nearly 6i per- cent. upon at the meeting, to whom it was competent to move an
the capital originally:paid up by the proprietors. Sugars adjournment for its consideration, if they thought proper.
are still .in progress of being shipped. The crop will 'not, The CHAIRMAN then read the report, which was re-
however, be an abundant one, being estimated at most ,at ceivecl with much apparent satisfaction :-
30,000 tons. The weather has been most favourable for the e
coming crop since the beginning of the year, and as much as The Tenth Annual Report by the Directors of the Bank of
Australasia to the Proprietors, assembled at the Meeting
45,000 tons are talked of for next season. Rice Continues held at their Office, No. 2, Moorgate-street, on Monday,
-low, say .from. d011ar52.75- to dollars 3 per 'bag' of two the 3d June, 1844.
bazaar maunds. Freights to London 2/. ss. and
.21.
.per ton, "In laving before the Proprietors the result of the transac-
with little prospect of -rishig:—*/: : ii-seisildse are scarce, tions of the Bank for the year of account ending on the 16th
and exchange improving.•. Three months drafts have been October, 1843, at this the Tenth Annual Meeting, held in
purchased lately eel per cent.. discount. 4. return has been- compliance with the provisions of the Charter of Incorpora-
called for,by his Excellency the Governor of the number of tion, the Directors are desirous of reminding them, that in their
labourers missing 'troth- the various estates, by which . the last two . reports the distressed state of the Australasian
extent and evil of desertion and vagrancy will be aster- Colonies was adverted to in strong terms. It is with feelings
tamed. ' of disappointnient and regret that they have now to inform
-
° (From the Overland Price Current, May'l.) the Proprietors that the severity of the pressure then noticed
THE MARKRy—OxistßvAndm.—BomnAy, MAY 1, 1844. ' had since augmented to an unparalleled degree, shaking the
Although the market for imports has exhibited little ac-. credit and involving the ruin of large classes of the comme-
tivity since the departure of. the last mail, transactions to a nity, and had continued to the date of the latest advices with
large amount 'have taken place, but with few exceptions • .
without any improvement in prices. but little mitigation.
e Proprietors, will, therefore, not be surprised to learn that,
Metals—Rut few- sales have. been made in metals during in the general distress this Corporation has not escaped with-
the month, , and those generally at a small reduction on the out heavy losses, and its interests might have been more
quotations of last month:' 'Brazier's copper and spelter had seriously affected, but for the precautions taken by the Di-
slightlyadvanced, the former Ir, and 'the latter about i r rectors at the commencement of its business, and since stee-
per cwt; but theie prices have been difficult to obtain within (lily.' adhered to in the accumulation of considerable reserves
the last few days, and a sale of the latter is just reported at to meet such adverse circumstances, inseparable; even in ordi-
-16 rs per cwt, which is . a decline on last quotations. Lead nary times, from large and distant operations like those of
continues extremely dull of sale, and has declined froth Ir. this Bank.
to 1 per cwt. •
-- - • " The Directors have, however, the satisfaction of stating
The following sales have been reported. to us for publica- that the accounts which they have received from the various
tion :—. •• '
Copper-250 cwt Braziers', at ra 57/ per cwt; 600 cwt Superintendent, and examined by themselves, enable them to
Sheathing, 52 3-16ths ; 80 cwt, flat and raised• Bottoms, 59; assure the Proprietors that the irrecoverable losses are more
70 cwt old Copper, 481 ; 242 cwt South American, 47.: than amply provided for by the funds set apart for that pur-
Iron--;2,992 cwt British Bar, at rs 22 per candy; 1,000 pose, and that the debts due to the Bank of a doubtful cha-
cwt Sheet Iron, 4i per cwt. , • ratter, though it is feared they may prove of Considerable
Sheet
Lead--526 cwt rig,'at rs, 101 ; 20t;lovt ditto, 1%; 100 cwt amount, are not expected to be of a magnitude, even under
- . the mote unfavourable view that can at present be taken of
Corroieloi.
liefetre.acrories--Importers have evinced a desire theni; to involve any serious impression on the rest.
to clear off a great part of the goods on hand before the mon- " The Directors think it necessary to Advert, in this place,
soon sets in, and sales to a large 'amount havze, ,in conse- to a large adVance made, in March, 1843,, to the Bank of
quence, been made during the past Month, but principally at Australia; at Sydney, under circumstances .of a peculiar cha-
low and unremunerating prices. A Fedeetion of -2 to 3-annaa • 'meter, which was joined in by, this establishment, to the ex-
'may be quoted,ori grey, and About I anna on bleachedjac- tent of 150,000/., the knowledge of which, at the time, caused
conets, and Ito 2 annas on grey and .bleached longcletha, much anxiety.
. but grey and bleached madapollams remain unchanged.
Grey shootings and domestics_are mot- in demand, and the -" It is not now necessary to bring under review the reasons
which induced the superintendent and local board at Sydney
prices are'consequently very low. There are but few trinslint .
in the market, and all deseriptions are in request. Neutral that arrangements
of the
to take this impOrtant step, but it is incumbent on the
Directors to assure the Proprietory
prints and zebra dresses are now scarcely inquired for, the o
dd
latter, indeed, not at all, mid no improvement in' the price of, perfect safety of which they entertain no doubt; and to add
these entered into for the repayment of the advance,
these goods can be stated. Several large sales have, how- that, immediately they received accounts of this transaction,
° ever, been made at very low prices, that will leave a,stv.ere recurrence of any
lost issued instructions to prevent the
lost on the, last English quotations. The prices of Turkey similar ones, taking occasion at the same time to reiterate
red' goods have slightly declined since our last, but these their
goods continue in good demand. • • previous orders limiting the amount of accommodation
to all parties within moderate bounds.-
Yarns-LThroughout the month there has been a good de- e The experience which the Directors have now had of the
mend for Mule ,and Water Twist,, and prices have advanced general working of the Bank having satisfied them that the
k anna per lb on Nos. 20,40, and 50, and 1 to 1 anna on smaller branches are not productive of benefit commensurate
the other' numbers. Of Orange Twist the importations with the capital they absorb, and that they also divert the
have increased considerably,' and prices have fallen about 2 attention of the Superintendent from duties of greater im-
annas per lb. ' Turkey Red has also declined, and is verydull importance, authorised Mr. Hart to withdraw from those
of sale. The following sales have been communicated to us districts, which, in his opinion, did not afford a sufficient field
for insertion :—Mule Twist, N 0.20, 7,000-lbs, at 7 annas per fa; banking operations.
lb; No. 30, 4,000 lbs, at 84t annas perlb; N 0.40, 22,000115% ! "Acting under these instructions, Mr. Hart had made ar-
at Bft amnia per lb; No. 48 to 52, 2,400 lbs, at 10 annas per I rangements for closing the Bathurst branch on the Ist of
lb ; No. 50, 2,000 lbs, at 10 annas per lb; No. 60, 2,000 lbs, I
Maitland. March last, and he would probably adopt a similar course
at
•
at 12i- annas per lb. Water Twist, No. 20, 51,000 Ws, at 7to
.. • . . ,
tion in the-expenditure,, and, by concentrating the business,
71 annas per lb; Nil 30, 20,000 lbs, at 8 annas per lb ; No. eßy these measures the Directors hope to effect a reduc-
-30, 8,800 lbs, at 8/1 annas per lb ; N 30, 62,800 lbs, at
8 9-16ths to 9 annas per lb; No. 36, 4,000 lbs, at 04 amitsast 1 to place it on a safer footing than when spread over a wider
per lb; No. 40, 20,000 !be, at 9 annas per lb. Orange_Tw , i surface.
No. 30 to 50, 22,500 lbs, at 1 rupee 21 annas; 7,009 lbs, at i ' " During a period of such unexampled distress and cores
1 rupee 1 anna per lb. : mercial embarrassment as that which has
Turkey Red Twist—English dye, 4,800, -1 rupee 4 annas i Colonies prevailed in the
es for such a length of time, it required a person of no
ditto,4,ooo, 1 rupee 7 1
to 1 rupee .8 annas per lb; German
also informed
_ i ordinary ability;_prudence, and judgment. to wch • ove th
ditto• We are also of a • r e
annas to ',rupee 71 annas •interests of-the Corporation ,• and 6 ' Directorsh
e have much
sale of 10 cases thread at :l rupee perlb, 12 cases at 12 annas satisfaction in stating that the S •t d .
qperm en dent, Mr. Hart, has
per lb, and 5 cases at 4.ennas.. , , proved himself to possess those. qualifications in an eminent
durll f sal d • Marine Stores—Tar and pitch are a) e, an prices degree, and etre, to be thoroughly Competent to the discharge o f
inclined to droop. Paints are very scarce, and a supply re- the important trustconfided to him.
quired. Camas,
,cordage, and twine are very dull of sale, and ,, '
imressed with a dee sese of the im rtance of a due
we have not heard of any sales of these- articles:- The only
'superintendence of the Banks s affairs, and. of the serious in-
sale reported under this head is one of 400 barrels of pitch; convenience.Whieh might arise from temsuspension
a rary susp
at 7 rs per barrel.
-of the'office, the Directors have deemed it expedient to send
Saffron—We have been informed of a' sale of 216 lbs et ' 1 • S
, . . . out to the co.canes a person, qompetqnt. to .assist the Super-
-33 m per. lb: - -
• (L" - °,i•-inteederit inCthe'perftananceilf hii onerous duties, and who,
'Corks -have advanced 10 annas per •gross Alice our Irst in the event of casualty, could temporarily administer the
publication,
ss and a sale has been reported to us of 2,030 grot s, affairs of the Corporation, until other arrangements could be
at 11 rs per gro.
' made from home. •
Bottles have also maintained anupward tendency, ar d sales • "The gentleman appoin • ted to the office is Mr. James John
have been reported to us of 1,627 dozen quarts, and 1,054 Falconer, a person of considerable mercantile experience: and,

BANK OF AUSTRALASIA.