The Sun.
London, England, 1857-10-13 00:00:00

SOUTH AUSTRALIA.

By the Omagh, from Port Adelaide, via Singa-
pore, advises have been received from Adelaide
to July 15. The legislature was to re-assemble for
the dispatch of business on the 21st of the month,
and questions of great colonial importance were to
be brought forward—amongst others, the Waste
Lands, Postal Communication, and Education
Bills. The discovery of fertile lands and fresh-
water lakes between Lake Torrens, and Mount
Serle, which are represented as forming a perfect
paradise, is confirmed by Captain Freeling, R.E.,
and announced in the Government Gazette.
General satisfaction was expressed, and the
colonists seem to be in a state of great exultation
in consequence. Railway extension was a subject
of general discussion by the colouial press and the
public, and a portion of the journals argue that
government should offer guaranteees of 7i per cent.
to private companies, as an inducement to capitalists
to invest their money in the construction of these
undertakings. The line most desired is said to be
that from Adelaide tone Murray River. The arrival
of each mail from South Australia brings fresh
evidence of the great extent of her mineral deposits
by the discovery of copper mines. Another is men-
tioned on the present occasion, but, at the same
time, it is stated that hands suited for this descrip-
tion of labour are inadequate to the demand, and it
is recommended that the superflous mining popu-
lation of Cornwall and Devon should emigrate to
these localities, where high wagts would be given,
and the mineral resources be effectually developed.
The copper mines of South Australia are well known
throughout the world for their great yield and rich-
ness, yet many, such as Port Lincoln and others,
remain unproductive, in a commercial sense, front
the difficulty of obtaining miners. The Burra Burra
shares are quoted at 1301. on 5/. paid, which is a
great temptation to mining.enterprise ; and similar
results, it is said, would attend the working of
many other deposits, if efficiently carried on, and
which the want of hands alone retards.—dining
Journal, Oct. 10.

TILE RAILWAY FROM SMYRNA TO

AIDIN.

On the 22d ultimo the foundation Stone was laid
with great ceremony at Smyrna of the terminus
the railway that is to run from that city to Aidin. '
This line commences at the Caravan-bridge. Mue-
tapha Pacha presided 'over the festive scene ; the
Turkish flag floated gaily above his tent ; all the
local authorities and the consuls were present ; the
honours were done by the Messrs. Wilkin and Mere-
dith (the engineers), in their joint capacity as prin-
cipal conductors of the undertaking. One •f the
Messrs. Wilkin handed to thegovernor a silver spade
and made him a speech, which his Exellency was
supposed to understand, for he answered very'
courteously, and then filled a mahogany wheelbar-
row with the earth he had dug ; and thereupon,
like a true "navvy," he raised the mass with Ib
heave, and wheeled it to the appointed spot. There
was a loud shout at this performance from all the
spectators. The garrison bad struck up the
national hymn. and the troops fired a volley. A
grand salute of 21 guns followed, and the ont•of-
door ceremony was concluded by the slaughter of
sheep. These did not form part of the collation,
which was already prepared, and in the course of
which several toasts were given more Anglican.
In the evening there were fireworks and a ball,
which were kept up till 2 o'clock, by which time
supper was needed. it had not been forgotten, and
as soon as it had been discussed the governor was
escorted home by a torch-bearing procession.

The Pays has received a letter from London of the
9th, stating that two agents of the East India Company
w( ro to leave fur Alexandria on the following day, with
toll powers to make all necessary preparation for the
passage of English troops across the Isthmus of Sutz.
CAMBRIDGE, Oct. 12,—The Vice-Chancellor has great
pleasure in aunonrcing to the Senate that the late John
Disney, Dog , of the Hyde, Essex, to whom the Univer-
sity is indebted for the foundation of the Disney profea-
,,orship of arcloeology, and for the Disney collection of
ancient marbles, has further shown his regard for the
University, and his desire to promote his own favourite
study, by bequeathing to the chancellor, maters, and
scholars the sum of 2,5001. Three per Cent. Consols al
an augmentation of the Disney professorship of archoso-
logy for ever. The ( xamination for the certificate of the
resins professor of laws will be held on Monday, the
26th day of October.

VI DI A K

A ND

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
Accounts from Liverpool sate that the Cotton
Market yesterday closed quietly, and prices were
without any material alteration. The sales
amounted to 8,000 bales, 2,000 of which were taken
by the speculators, and 500 by the exporters. The
Railway Share Market closed with a very dull
appearance, and the values of all the leading stocks
were a shade lower.

Several failures among houses connected with
the American trade have been reported, and among
others may be mentioned Messrs. Monteith and
Co., Messrs. Patteson and Co., and Messrs. Wal-
lace and Co., all of Glasgow. Other firms are sup-
posed to be involved, but measures are being
t aken to avert, if possible, any further
disasters. There can be no doubt, however, that
the New York panic will be productive of great
embarrassment, and the advance in the rate of dis-
count must seriously add to their perplexities.
The cessation of remittances, when there is such an
immense amount due to our merchants and manu-
facturers, must at such a juncture prove exceed-
icgly injurious, but those who are enabled to tide
Over their difficulties will satisfactorily surmount
them as soon as confidence is restored throughout
the States. The advices lately received announced
further suspensions, but the private accounts hold
out a hope of an early improvement, and con-
fidently aver that the crisis had been attained. The
public must be prepared for disasters during the
remainder of the year, especially if further restric-
tive measures are rendered necessary at the Bank.
The alteration just determined upon does not ap-
to have checked the pressure, and with regard to
the specie movement about 10,0001. was withdrawn
yesterday for export. It is thought that nearly
half a million sterling will be sent to America this
week, and, if this should be found correct, in-

_ creased uneasiness would doubtless prevail. A
large influx of gold would prove very serviceable at
the present moment, and the vessels from Austra-
lia, now overdue, are awaited with some anxiety.
The inquiry for silver is unabated, and the
steamer on the 20th will probably convey a large
amount, as the Indian exchanges have ad-
♦anced, but the difficulty that will be
found in getting bills discounted will necessarily
impede the exportation of the precious metals.
The rates now allowed for deposits on call and for
short periods are 6to 6k per cent., and these will
naturally insure a large supply of capital in the
Money Market. Few will feel inclined to buy
Consols or other fiecurities, notwithstanding their
depreciation, when they can procure, although it
may be only temporarily,' such high rates of inte-
rest.

Although it is premature to form any definite
opinion upon the course of monetary affairs during
the next two or three weeks, when an important
measure such as an advance to 7 per cent. has only
just been adopted, the subject is naturally one
Which excites general conversation. Apart from
the neighbourhood of the Stock Exchange, where
Views are expressed in accordance with the nature
of speCulative transactions, there does not appear
to be so much despondency as might have been
imagined. It is often noticed that in periods of
intense excitement, and when affairs seem to
be verging into a state of panic, that the re-
action is very rapid, and confidence is quickly
restored. It is hoped that the course taken by the
Bank will effect the desired results, and that the
general position of tho establishment will soon be-
come stronger. The trade of the country is in a
sound position, and although several failures may
occur, there is reason to believe that the com-
mercial community will emerge from the difficul-
ties occasioned by the disturbance of the money
market without any serious injury. It is desirable
to guard against the gloomy views that may be
taken by alarmists, but at the same time the com-
mercial public will do well to observe great
caution in their various transactions. Looking at
the prudence they have exercised for some time
past, however, it is scarcely necessary to tender any
advice on that subject.
The movement in the market for English Secu-
rities has again been very important. The approach
of the account day and the arrangements made in
anticipation, naturally occasion a good deal of per-
turbation. The Funds opened this morning at a
further decline of nearly per Cent., but when this
depression was established several of thoee who
bought at higher prices thought it prudent 'to real-
ise their profits, and their operations being accom-
panied by a purchase of the November account, the
market became stronger, and the decline was partly
recovered. Consols, for money, have been 86a
and since then, 871 for money. The November
quotations have been 87, 871, and 88. At the pre-
sent moment they are 871 and 87. respectively.
The New Threes are quoted 861 and the Re-
duced, 86 A. Bank Stock was 212 213. Exche-
quer Bills were marked 20s. to 7s. discount. The
Government broker bought about 10,0001. at Bs.
discount.

The operations in the Foreign Market have not
extended to many securities, but fur such as have
been dealt in the quotations have been variable.
Turkish 6 per Cents, have Leen 841, 861, 85k, and
861, the last quotation being 86 to 86k. The 4"per
Cents.' are 901 to 97k ; Dutch 4 per Cents. 97 ;
and Peruvian 761. Mexican are as low as 19.
The following are the nominal prices of Foreign
Stocks : Grenada Deferred Bonds, 5 6 ; Mexi-
can, 19 19i ; Peruvian 4i per Cents., 76 78 ;
ditto 3 per Cents., 52 54; Pqrtuguese 3 per Cents.,
44i 451 ; Russian 5 per Cents., 107 109 ; ditto 4i
per Cents., 96 98 ; Spanish 3 per Cents., 40 41 ;
ditto New Deferred, 24151 ; ditto Cortilicites, —;
ditto Passive, --.
The Railway Share Market has again exhibited
increased depression, and a further decline of about
1 to 1/ per cent, may be noticed in the values of
most of the principal lines. Eastern Counties,
Great Northern, Lancashire and Yorkshire,
Brighton, North Western, Manchester, Sheffield,
and Lincoln, receded 11. ; South-Eastern, 1/. ss. ;
Caledonian, North-Eastern (Berwick), and North-
Eastern (York), 11. 103. ; and Chester and Holy-
head, 21. The Foreign and Colonial lines are
also extremely depressed ; Eastern of France have
receded 1/. ; Paris and Lyons, 15s. ; Lombardo
Venetian, 15s. ; and Great Luxembourg, 10s. ;
Grand Trunk of Canada have declined 21., and
Great Western of Canada 15s, to 11.
Mining Shares are quiet, but prices are steady.
Alfred Consols, 13g ; North France, 131 ; and
Sortredge Consols, 24.
Joint Stock Bank Shares are flat. English, Scot"-
tish and Australian Chartered have receded 10s. ;
Ottoman Bank, ss. ; and London and County ss.
In the Miscellaneous Market Netherlands Land
Shares were 2i ; Peninsular and Oriental Steam
declined 11., viz., to 73.

RULTISH FUNDS THIS DAY AT ONE O'CLOCK.
( Tram the Official _

Business done.
Sink StOOk
3 per cent. Reduced Annuities B% 51 61
3 per cent. Consols Annuities 866 7i 7
New per Cont. Annuities 853 6if
Lou„ Annuities, expire sth Jan. 1860
Ditto 3U Years, expire sth April, 1885 173
0 sole for itecon,
Iz3hequer Ellis, 24d.
21.000 . ....... •
Fxchequer Bonds, .v4sb, i s per Cent —
Ditto 14159 ........ ••••• . 9B}
PRICES OF.FOREIGN FUNDS AT ONE O'CLOCK
Mexican. 3 per Cent ..
D.tto Account ..
. .... **********************
Peruvian Bonds, 4i 'Per ***************** 19
Ditto Account ******************** .................. ......
Turklen (ionds, ti per cent, 764
Ditto Account ........................
Ditto Guaranteed, 4 per Cent.
Ditto Account
Dividends on the above payable_in London.
Dutch Exchange, 21 per Cen.;., 12 Guilders
Do„ 4 per Cont. Certificates ...... 97
TWO O'CLOCK.
Console, money
87 k
Cottr,ole for account, November

R4ILWAY COLLISION.—Yesterday morning
an accident
haNiened on the Bristol and Exeter Railway to the up-
tra',n, due at Bristol at 9.45 a.m. The tunnel at Bourton,
%hunt 5 rail's from Bristol, has been undergoing repair,
and by some neglect two trucks loaded with
Were left on the up instead of the down line. stone
The rail-
way at this point turns rather a sharp angle, and on the
engine-driver perceivine the obstruction he at once ap-
plied the breaks but could not stop tho train in time to
avoid the collision. The eneine and tender were knocked
off the line, the first truck was shattered to atoms, and
the second was sent about a quarter of a mile up the
Bare. The passengers in the train, among whom were
Sri J. E. Eardley Wilmot, Judge of the Bristol County
Court, Mr. D. Burges jun. town-clerk of Bristol, Mr.
A. H. Palmer, Mr. J. Mills, of the Bristol Gazette,
though much shaken, escaped without any serious in-
juries. The succeeding up-train, which is
due at Brist( 1
at 10.5, was warned of the danger by detonating balls
being placed along the line, and was pulled up within
about 20 yards of the merle of the accident.. After the
down trains, starting about this time, had passed, the
trains were backed to Nailsea, where they were shifted
an the down line, and proceeded to Bristol, where
they arrived about four hours after the regular time.

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