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

COMMERCIAL INTELLIGENCE.

REPORT ON THE STATE OF THE BOMBAY
MARKETS,
FROI4I 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 Bsnk of Bombay having further raised its rates
of discount, and its example having been followed by
the other banks. We apprehend, hoe ever, that this
tightening of the screw has reference more to an antici-
pated than an existing scarcity of money, as wa 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 nnwilling
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 Stcck is held with firm-
ness at 18 to 18i percent. discount. The transfer hooks
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 goods, 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 vessels 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 are scarcely inquired after,
extent by a few Arab dealers, who, however, will only
purcha3e 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, Loeg Cloths, Jacconets, and common Shirtings
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 have been respectively as follows:-12,125,
2,000, 13,100, and 18,770 pieces at Rs. 21, at Rs.
27-16. Es. 5: 2I at Rs. 5 13-16, Rs. 1 5-16 at It?. 24,
and Rs. 4at Rs. 5: 71 wines, per piece. T cloths have
sold to the extent of 11,100 pieces, at Rs. 3 1-16 at Rs.
3: 71 Runs per piece, which latter price is not, how.
ever, now obtainable. Bleached goods—Sales of Jacc-
nets have been made to extent of 15,800 pieces, at Rs. 2:
61 at R.. 5i 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 prices, but demand
for them is becoming somewhat dull. For the finer de-
scription of shirtings only does any inquiry exist.
1,550 piects 36 inch by 40 yards have been disposed of
at Es. 414 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, aro in moderate
request. Fancy goods—Low lappets, fine book muslin,
and harness mulls, are dull; while dyed madapollams,
the ordinary descriptions of book minding, 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 15 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 band. 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 annaq. 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. 2a; and 20 pieces long ells, scarlet, 31 by 24, at
Rs. 12 per piece.
Saffron—A sale of 130 lbs. inferior quality, at Rs. 9i
per lb , has been effected. The best description would
, and is wanted.
but demand is dull.
2 5-16ths per lb., have
:vell'ave heard of a sale of 25
sdplaabewtrregelßochhd, ; and of Allsopp's 692
realisebe
peen: :s rho the
sold.
ic an priceiStocks_
H4oodoqginibaoosrut gaoled
aLtonnduopneebsott3leBd pale ale has been sold at Rs. 4 per
dlichßd2so.,.
dozen.
Spirits—The following sales have had effect :-25
hhds. Brandy, at Re. 21 per gallon ; 109 hhds. Singa-
pore Rana, at Rs. 1 per
gallon ; 6 casks Colombo Ar-
rack, at R. 6 per gallon ; and 100 dozen Champagne,
at R.,. 21. per dozm. Gin is in moderate inquiry, at a
slightly reduced rate, while Brandy and Rum are diffi-
cult of sale.
Marine Stores—We bare no sales to report. Paints,
cordsgr, and canvas aro as at last report. Twine has
slightly declined.
Pater—We have heard of a sale of 1,000 reams Ger-
man foolscap, at Rs. 4 3-16th per ream.
Totals—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 hay© remained as
last reported. With copper, the bazaar is overstocked,
with no demand.
EXPORTS.
Opium—The price of this drug remains firm at from
anEuropean firm.
home has caused a fall
from
Rs. 1,340 to-Rs. 1,350 per chest, at which latter rate 200
c
of Rs. 10 at 12 per candy for Compta, and unless next
mail brings more favourable accounts a further decline
hcestotsto )saven —Last
intelligence bought by
will, it is expected, take place. Very little business is
doing just now in the staple, and it is probable buyers
will await the arrival of the next English mail before
they again enter the market. For China, scarcely
anything is doing. The purchases daring the fort-
night have been to the extent of 1,100 bales and
2,000 candies.
Pepper—Of Bhutcoll Pepper sales of 250 candies, at
Re. 57 per candy, have taken place.
FREIGHTS
have been very dull during the past fortnight, there
being little cotton at market, and that of an inferior
quality. We quote rates to London at 31. 2s. 6d. to
31. 55.; to Liverpool, at 31. to 31. ss. per ton; and to
China at Re. 11 to Re. 11 f per candy.
EXCHANGE.
The amount of remittencea going home by this
steamer on merchants' account is very small indeed—in
fact we never knew it more so—this, too, in the face of
what may be- considered a very advantageous rate for
buyers, namely Is. llfd. for first-class six month? sight
bills. We quote bills on Calcutta at 1 per cent, discount
cent. discount thirty days'
sixty days' sight, I per eight,
and par for sight drafts.

CHINA.
(From the Overland Register of Dec. 29.)
The past month has not been marked by any event
of importance.
The Chinese Government still retain the head and
hand of the unfortunate Governor Amaral—and as
they have now been upwards of four months in their
possession, it is but too probable that even ultimately
recovered, all traces of the identity will have long
since disappeared.
The last steamer brought on a detachment of Vo-
lunteers (European Portuguese) 100 strong, from
Goa, to assist in the defence of Macao—while the
French and American frigates continue to afford it
the passive protection of their presence.
A report obtained in the early part of the month
that the notorious pirate chief, Shap-'ng-tsai,
was again at the head of a formidable squadron,
but as we could not trace the rumour beyond mere
hearsay, and as it is not borne out by its own likeli-
hood, we are not inclined to place any reliance upon it.
At Canton all continues quiet.
Our dates from Shanghai are to the 20th instant;
they contain nothing entitled to particular notice.
The ship Cumberland, Captain Lewis, from Belli
bound to this port, foundered off the coast of Luco-
nia—the master and six hands were lost. Mr. Block,
a passenger, and the rest of the crew reached the
shore distant about forty miles, and arrived here in
the Spanish brig Brilliante.
The Macao garrison has been strengthened by a

reinforcement of 106 troops brought on from Goa by
the " Peninsular and Oriental Company's" steamer
Pekin. The Chinese still keep possession of the head
and hand of the late Governor.

People are getting uneasy about the Apollo troop-
ship with the head-quarters of her Majesty's 59th
regiment on board. She put into the Brazils several
months ago, some of the troops having died of cholera,
it is thought, however that she ought to have arrived
ere this—but quarantine is always a tedious affair.
The 59th relieve the 95th ; the Chinese say it is the
same regiment, the figures on the caps being trans-
posed.

JUDICIAL COMMITTEE OF THE
PRIVY COUNCIL.—(THIS DAY.)
(Before Lord BROUGHAM, Lord CAMPBELL, the MAS-
TER of the ROLLS, Dr. LUSIIINGTON, Sir EDWARD
RYAN, and the Honourable Mr. PEMBERTON LEIGH.)
GRANT V. THE CHIEF-JUSTICE OF BENGAL.
This was an appeal, part- heard, against an order of
the Supretre Court of Judicature at Fort William, Ben-
gal. The appellant had been appointed during the year
1838 Master-Accountant-General and Examiner in
Equity of that court, and he continued to hold those
offiees until the year 1848. During the latter year he
received a letter from the judges of that court intimating
that, I" The gross mismanagement of the affairs of the
Union Bank, which have ended iu the destruction of the
interests confided to you, involving as it does, in
addition to the deceptive nature of the reports,
breaches of trust of the most serious description,
justifies the withdrawal of our confidence from you. We
need only refer to two of the more prominent instances,
namely, the lending the fends of the partnership on un-
authorized securities, and being yourself a debtor to the
bank to a large amount on mere personal security, con-
trary to the most obvious principles of your duty." The
appellant emphatically denied these charges; but having
declined to appear before the Judges of the Supreme
Court, he was discharged from the office which he held.
It was submitted by the counsel on behalf of the ap-
pellant, that he must be deemed to have held the offices
from which he was suspended for life, or during good
behaviour ; and that no power was given by the
Charter of Justice, or any statute or Act of
the local Legislature, to the Judges of the Supreme
Court to remove or suspend the officers of that court at
pleasure. It was conceded on all hands that the apel-
lant's conduct, in his judicial capacity, was irreproach-
able; and his counsel contended that it was not compe-
tent, nor within the province of the Chief Justice, to dis-
miss the appellant upon transactions arising extra-
judicially.
On the other hand the counsel for the respondent con-
tended that the Supreme Court possessed the jurisdic-
tion which the Chief Justice had assumed, and that the
dismissal was a fit and proper exercise of that jurisdic-
tion; and that, taking all the circumstances of the case
into consideration, the appellant was not a fit and proper
person to hold the offiees of Master-Accountant-General
and Examiner in Equity in the court.
The counsel for the appellant were Sir F. Thesiger,
Mr. Turner, and Mr. Peacock; and the respondents
were represented by the Solicitor-General and Mr. G.
Henderson.
Mr. TURNER was replying, during the morning, upon
the case set up for the respondent.