The Sun.
London, England, 1844-12-04 00:00:00

MONEY MARKET.

A superabundance of money continues, and bank
shares and Government securities have consequently
again advanced, as will be seen from the following quo-
tations, at which they are in demand :

CURRENT VALUE OF GOVERNMENT SECURITIES, BANK

STOCK, &C.

Rs. A. Rs. A.
Transfer, 5 per cent
Second ditto,according to Nos 5 0 to 8 0 ditto.
Third ditto 7 E to 8 0 ditto.
New ditto

4 per cent. (sicca rs.) 0 10 to 0 14 disct.
Ditto (Co.'s rs.) 0 14 to 1 1 ditto.
Bank of Bengal Shares (Company's rupees 4,000
each), premium 2,850 rupees to 2,950 rupees.
Union Bank (Company's rupees, 1,000 each), premium
290 rupees to 300 rupees.
Agra Bank (Company's rupees 500 each), premium
250 rupees to 260 rupees.
Mussoorie Bank (Company's rupees 500 each); Bank
of Western India (Company's rupees 300 each). No
sales have been reported in this stock lately.

BOMBAY.
(From the Overland Commercial Price Current.)
BOMBAY, Nov. I.—The report of the state of the im.
pert market sent home by the last mail was of a most
encouraging nature, and such as the circumstances o:
the case appeared to warrant ; but unhappily the intel.

ligence we have to communicate on this occasion is
rather unsatisfactory, and to be accounted for thus. lip
to the departure of the steamer to the Ist of October the
reported state of the crops was most encouraging, and
buyers evinced considerable anxiety to make purchases.
The then current prices were easily obtained, and in
some instances an advance of rates was effected with
little difficulty. This healthy state of things promised to
continue. However, shortly after the departure of the
steamer, the rains were interrupted and the crops lan-
guished, and even the Government Revenue Commis-
sioner publicly notified his conviction that the very
favourable reports which had been furnished by the
subordinate officers of Government were open to a sus-
picion—a surmise which was confirmed by subsequent
investigation. Whether the object of such reports was
to run down the price of all descriptions of grain in
the market, in order to purchase at low rates the stock
on hand, and then to dispose of it at an advanced rate
on the discovery of the illusion, we will not presume to
determine ; but certain it is that the flattering state-
ment contained in official reports furnished to the officers
of Government were not borne out on full and subse-
quent inquiry. The consequence of such erroneous re-
presentations were immediate in their effects on the
market, and the import trade, which up to that period
had worn so cheerful an aspect, became depressed. Sales
were subsequently and have since been effected with
difficulty. This unhealthy state of the market will in all
probability continue until the harvest is completed ; for
so long as the crops continue in a condition liable to
damage for lack of water, the native merchants will not
be induced to purchase largely. The rains are now
over, and recourse must be had to artificial irrigation.
The harvest, we believe, will be equal to the average of
former years ; but, so long as the crops are on the
ground, our market will continue to be dull. The
Dewallee holidays occur about the middle of the present
month, and will not tend to improve the condition of
the market. In some parts of the Deccan the crops are
drawing close to the period of maturition ; should they
be gathered towards the end of the month or the begin-
ning of December a reaction of a satisfactory nature
will doubtless take place, and the Bombay market will
again wear a favourable aspect. In the meantime
holders must continue to maintain stocks with firmness,
L as it is probable that if goods are offered even at a much
lower rate than is now obtained by strained sales, pur-
chasers will not in the present state of the crops be
tempted to extend their dealings or indulge in specula-
tive investments.

COTTON AND PIECE GOODS.—At the commencemen,
of the month a brisk business was doing in grey mada-
pollams, jacconets and longcloths, also in white mulls
and lappets, at moderately favourable rates ; but to-
wards the middle of the month business fell off. Sales
were effected, but in some instances at low and un-
remunerative prices. Ginghams, cambrics, and domestics
have been in less inquiry than during the former month.
Turkey red plains are neglected; the last sales were effected
at rather lower rates. Of Turkey prints there are none
in the markets, and are wanted. Other descriptions of
prints are somewhat dull. Shirtings go off less freely.
The last sales of gray goods were unremunerative, and
effected probably to close accounts before the departure
of the mail. The Dewallee holidays will commence on
the Bth of the current month, when business will be
wholly suspended for several days. The importations
since our last monthly issue have been very heavy, espe-
cially of grey jacconets and madapollams, white jacco-
nets and mulls, Turkey red plains, and lappets. If heavy
shipments of the above are continued it cannot be ex-
pected even under favourable circumstances that good
prices will be obtainable.
TWIST AND YARN.—At the beginning and towards
the end of the past month, a trifling amount of business
was transacted at the then current rates ; prices,
however, were steady, and promised some improve-
ment. At the middle of the month there was some
activity. This, however, was arrested by the Dassera
holidays and the causes above noticed; business has
fallen off, but rates continue firm in the face of large im-
portations. The sales for the month were below the
average; the chief transactions being in middling num-
bers of raw mule and water. In orange and Turkey
red yarns not a single transaction is recorded. Al-
though rates are firm, they cannot be maintained, un-
less the exportations at home decrease, as our recent
imports have been heavy, and stocks are accumulating.
The amount of twist imported during the past month
was much above the average, being 946,6781 b.; and
4,1221 b. of sewing thread, or 337,1651 b. raw mule ;
90,0731 b. orange mule ; 1,6001 b. green mule ; 7,5001 b.
grey mule ; 449,9401 b. water ; 5,4001 b. orange water ;
4,6001 b. green water ; 36,6001 b. grey water ; and
14,8001 b. of Turkey red yarn.
METALS.—In metals there has been a steady business
doing at our quotations. Towards the close of the past
month the transactions became less, with a slight altera-
tion of prices for copper bottoms and tiles, these being a
little higher, and Swedish and British bar iron a trifle
lower. Some few sales of spelter have been made, but
although at a little improvement on the former month's
sales, the market has not been affected; the current offers
are far too low, and holders appear resolved not to part
with stocks unless at improved prices. Tin plates have
been greatly neglected, and prices are lower. Iron nail