The Sun.
London, England, 1844-06-05 00:00:00

COMMERCIAL INTELLIGENCE.

MONTHLY COMMERCIAL RETROSPECT.
CITINA.—By the Anonyma, letters have been received from
China to the 10th March, but they are newsless. Commerce
continued in a most depressed state in Canton, and raw
cotton was particularly dull. The deliveries for tha month of
February, and the stocks on the Ist of March, were—
Deliveries. Stock Ist March.
Bombay ... 8,981 bales 69,335 bales
Bengal .. ......... 2,746 „ 6,145 ~
Madras
American

19,931 bales 104,889 bales
There was an unusually large stock of cotton yarn, and a
total absence of demand, with very large stocks on hand.
The opium market was dull. Excepting for Bengal quali-
ties, the market was well supplied. Quotations were, for
Malwa (new) 630 dolls. to 645 dolls., (old) 660 dolls. to 670
dolls. ; old Benares, 545 dolls, to 550 dolls. ; and 605 dolls.
to 610 dolls. for old Patna. None of the Calcutta clippers,
with the -new Bengal drug, had made their appearance. The
Chinescilave of late been complaining of the quality of the
drug, particularly Malwa qualities, which are represented as
being badly packed, and in many instances deficient in
weight. The piece goods market was in a healthy ptate.
Considerable sales had been made at fair rates. At the nor-
thern ports trade was progressing favourably. White and
unbleached long cloths of fair quality command good prices.
In a circular recently received from Canton, we find the fol-
lowing remarks with respect to English trade in cotton and
woollen manufactures with China :—" We found the demand
at the north dull for prints and chintzes, and they gave the
French and Swiss goods a decided preference over ours.
Handkerchiefs were in no demand, and we do not think that
fancy goods (Glasgow, Paisley, and Manchester ginghams,
pullicates, figured jacconets, spotted muslins, jeans,
satteens, velveteens, &c.), are likely at all to answer,
especially on a large scale. In estimating the total
amount of duties, which the Hong merchants previously
paid for us on our cotton goods, we find a certain sum put
down among other charges as so much ' discount al-
lowed to the trade.' While we consider that an increase
may be looked for in the consumption of our cottons in
China, we have by no means the same expectations re-
garding our ' woollen manufactures, and that for the fol-
lowing reasons : first, our trade in woollens is by no means
a new trade ; on the other hand, it is a very old trade ; it
has therefore had its day, and, like many other old things,
it is now going out of date. It was entirely a forced trade
during the last years,of the Company's monopoly, and since
the expiry of the Company's charter it has been slowly and
gradually declining. The present reduction of duties will,
no doubt, be a great boon to the woollen trade ; still, were
British woollens admitted duty free into China, we should
consider it quite insufficient to make the woollen trade what
it once was. Secondly, rich people now-a-days prefer silks
and skins. They wear longer and look better. Poor people
prefer buying domesties, dyeing them, and wadding them
with cotton ; they are cheaper and warmer. Thirdly, Soo-
chow used to be our best market for woollens. When Yukien
(the Imperial Commissioner who died after the battle of
Chinhai) was Governor of Soochow, he issued an edict com-
manding all his subordinate mandarins and families not to
wear articles of foreign make, but to encourage the native
manufactures. This occurred four or five years ago, and
was a great blow to our woollen trade. Fourthly, th com-
petition of Russian woollens in the north has almost driven
us out of the market.. They told us at Shanghai and Ningpo,
that for one man that came 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
correspondents, it is said that two opium clippers had been
seized by the Chinese 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., yielding an estimated amount of duty,
under the new tariff, 456,275 taels.

CALCUTTA.—The most important item of intelligence is the
account of the third opium sale of the season, which took
place at Calcutta on the 15th April. The total proceeds of
the sale amount to 5,268,276 rs., or over half a million ster-
ling, leaving a clear profit to the Honourable Company of
about four hundred thousand pounds sterling.
We beg to wait upon you with the subjoined report of our
third sale, which has just terminated. The quantity brought
forward consisted of 2,890 chests Patna, and 1,300 chests
Benares, which sold as follows :
Highest. Lowest. Avoago,
Patna
.„ldlA 1280 1275 2 0
13enares „ „ 1265 1105 1217 12 11
The first lots of Patna were knocked down at 1260, when
it gradually declined to 1230, but again rose, and finally
closed at the former rate. The second division, which was
considerably influenced. by the extravagant rates given for
the Bena,res, opened at 1315, and about 200 lots were taken
off at from plp to MOr when it 4ftilrwards deOlaod to 1257.
• tunarei, which, as usual, was sold intermediately,
opened at 1165, but after 50 lots had been disposed of to one
party at 1175, rose Immediately to 1210, and out moo-- '
as high as 1265.

_~eU

.---,.....
'lle biddings exhibited much
more fluctuation than at the
taro previous sales, owing to the competition caused by the
bazaar buyers, who purchased, we a Wald imagine, nearly
two-thirds of the total quantity.
The failure of Messrs. Adam Scott and Co., is announced.
. THE •MONEY MARRiET.
Hurkaru-office, Calcutta, April 20, 1844.
Since last week's issue, our money market has remained
very steady, with some disposition towards the beginning of
the month to briskness, and there was a symptom or two of
accommodation- being in demand. This demand has 'rather
subsided again.
Government Securities have been buoyant, and consider-
able transactions have taken place. We have heard of four
per cent. Company's rupees changing hands at 12 annas dis-
count.
Exchange has been more lively, and some bills, it is un-
derstood, have been let off at 1-11 i at ten months' date.
Perhaps 1-10 i to 1-11 may be held up as medium rates.
Bank Stock is much inquired after at our quotations.
Ittxx SHARES.' [Buy. Sell.]:
Bengal Bank (Co.'s Rs. 4,000) Prem. 3,050 to 3,000
Union Bank (Co.'s Rs. 1,000) Prem. 125 to
120
Agra Bank (Co.'s Rs. 500).Prem. 200 to 190
Mussoorie Bank (Co.'s Rs. 500) Prem. 60 'to 80
Bank of Western India (Co.'s Rs. 300) Prem. 150 to 145,
• GOVERNMEXT SECURITIES. [Buy. Sell.]
Transfer Stock Paper 5 per Cent. ...Prem. 14 oto 15 0
Bombay 5 per Cent. •
............... . ..... Prem. 6 Bto 5 8
Old Siccas ditto, according to num-1 f 2 Bto 6 8
bers ... ................................. Preen. 2 oto 5 8
Second 4 ditto .............................. Disct. 1 oto 1•4
New Company's 4 ditto Disct. 014 to 1 2
New Company's 5 per Cent ..Prem. 9 oto 8 8
MAURITIUS.—We have received papers from the Mauritius
of the 9th of March. The report of the state of affairs of
the Mauritius bank, made to the proprietors, for the twenty-
fourth half -yearly period, ended on the 17th of January,
1844, has been published. The nett profits for the half-year
amount to 20,204 f. 59c.—equal to nearly 64 per cent. upon
the capital originally paid up by the proprietors. Sugars
are still in progress of being shipped. The crop will not,
however, be an abundant one, being estimated at most at
30,000 tons. The weather has been most favourable for the •
coming crop since the beginning of the year, and as much as
45,000 tons are talked of for next season. Rice continues
low, say from dollars 2.75 to dollars 3 per bag of two
bazaar maunds. Freights to London 21. ss. and 2/. per ton,
with little prospect of rising. Bills on London are scarce,
and exchange improving. Three months drafts have been
purchased lately at 1 per cent. discount. A return has been
called for by his Excellency the Governor of the number of
labourers missing from the various estates, by which the
extent and evil of desertion and vagrancy will be ascer-
tained.

.grom the Overland Price Current, May 1.)
THE MARKET—OBSERVATIONS—BOMBAY, MAY 1, 1844.
Although the market for imports has exhibited little ac-
tivity since the departure of the last mail, transactions to a
large amount have taken place, but with few exceptions
without any improvement in prices.
Metals—But few sales have been made in metals during
the month, and those generally at a small reduction on the
quotations of last month. Brazier's copper and spelter had
slightly advanced, the former Ir, and the latter about r
per cwt., but these prices have been difficult to obtain within
the last few days, and a sale of the latter is just reported at
16 rs per cwt, which is a decline on last quotations. Lead
continues extremely dull of sale, and has declined from r
to 1 per cwt.
The following sales have been reported to us for publica-
tion :
Copper-250 cwt Braziers', at rs 57i per cwt; 600 cwt
Sheathing, 52 3-16ths ; 80 cwt flat and raised Bottoms, 59 ;
70 cwt old Copper, 48i ; 242 cwt South American, 47.
Iron-2,992 cwt British Bar, at rs 22 per candy; 1,000
cwt Sheet Iron, 44 per cwt.
Lead-526 cwt Pig, at rs, 10i ; 200 cwt ditto, 10i ; 100 cwt
Sheet 10i.

CorroN MANlTFAcruitEs—lmporters have evinced a desire
to clear off a great part of the goods on hand before the mon-
soon sets in, and sales to a large amount have, in conse-
quence, been made during the past month, but principally at
low and unremunerating prices. A reduction of 2 to 3 annas
may be quoted on grey, and about 1 anna on bleadiedjac-
conets, and 1 to 2 annas on grey and bleached longcloths,
but grey and bleached madapollams remain unchanged.
Grey sheetings and domestics are not in demand, and the
prices are consequently very low. There are but few muslins
in the market, and all descriptions are in request. Neutral
prints and zebra dresses are now scarcely inquired for, the
latter, indeed, not at all, and no improvement in the price of
these goods can be stated. Several large sales have, how-
ever, been made at very low prices, that will leave a severe
loss on the last English quotations. The prices of Turkey
red goods have slightly declined since our last, but these
goods continue in good demand.
Yarns—Throughout the month there has been a good de-
mand for Mule and Water Twist, and prices have advanced
I anna per lb on Nos. 20, 40, and 50, and * to * anna on
the other numbers. Of Orange Twist the importations
have increased considerably, and prices have fallen about 2
annas per lb. Turkey Red has also declined, and is very dull
of sale. The following sales have been communicated to us
for insertion :—Mule Twist, No. 20, 7,000 lbs, at 7 annas per
lb ; No. 30, 4,000 lbs, at 8* annas per lb ; No. 40, 22,000 lbs,
at 81 annas per lb; No. 48 to 52, 2,400 lbs, at 10 annas per
lb ; No. 50, 2,000 lbs, at 10 annas per lb ; No. 60, 2,000 lbs,
at 12i annas per lb. Water Twist, No. 20, 51,000 lbs, at 7to
71 annas per lb ; No. 30, 20,000 lbs, at 81 annas per lb ; No.
30, 8,800 lbs, at 88. annas per lb ; No. 30, 62,800 lbs, at
8 9-16ths to 9 annas per lb ; No. 36, 4,000 lbs, at 94 annas
per lb ; No. 40, 20,000 lbs, at 9 annas per lb. Orange Twist,
No. 30 to 50, 22,500 lbs, at 1 rupee 2* annas ; 7,000 lbs, at
1 rupee * anna per lb.
Turkey Red Twist—English dye, 4,800, 1 rupee 4 annas
to 1 rupee 8 annas per lb; German ditto, 4,000, 1 rupee 7
annas to 1 rupee 71 annas ditto. .We are also informed of a
sale of 10 cases thread at 1 rupee per lb, 12 cases at 12 annas
per lb, and 5 cases, at 4. annas.

Mailne Stores—Tar and pitch are dull of sale, and prices
inclined to droop. Paints are very scarce, and a supply re-
quired. Canvas, cordage, and twine are very dull of sale, and
we have not heard of any sales of these articles. The only
sale reported under this head is one of 400 barrels of pitch,
at 7 rs per barrel.
Saffron—We have been informed of a sale of 216 lbs at
33 rs per lb.
Corks have advanced 10 annas per gross since our last
publication, and a sale has been reported to us of 2,080 gross,
at 1 rs per gross.
Bottles have also maintained an upward tendency, and sales
have been reported to us of 1,627 dozen quarts, and 1,054
dozen pints, at 4 rupees per dozen; and 970 dozen soda water
bottles, at 1 rupee.

Beer—Bass and Allsopp's are nominal at 60 rs to 65 rs.
The greater portion of recent arrivals are in execution of
orders from Bombay, and of these no sales are reported. The
following are the only sales reported for publication :-100
hhds Saunders's, at 55 rs ; 100 hhds Tennent's, at 50 rs ; and
50 hhds Rees's, at 45 rs.
Spirits—Brandy continues firm at our former quotations,
and we have been advised of a sale of 53 hhds and 53 quarter
casks at 2; rs to 2 rs 6 annas per gallon.