The Sun.
London, England, 1842-12-05 00:00:00

CALCUTTA MONEY-MARKET, OCT. U.

MONEY-MARKET.—Since our last issue important in-
telligence from China—where peace has been established
and the payment of $21,000,000 for the defrayment of
the expenses of the war has been stipulated for, with the
opening of four or five of the principal maritime ports
to foreign commerce, and the unconditional and perma-
nent surrender of Hong-Kong to the British, have been
secured ; and from the north-western provinces, where
our arms have been completely successful in the defeat
of the Affghans—has been received, the influence of
which is likely to be productive of considerable advan-
tage to our political position and to the establishment of
peace throughout India. These events will necessarily,
in their course, affect our money-market, and by stop-
ping up the drain which has so long existed on the public
revenue, lead to the re-establishment of confidence, and
to the restoration of healthy operations in this market ;
the intelligence is yet recent for any effective change in
the market ; but monetary transactions have become
more practicable ; bank rates for operations are, how-
ever, unaltered from former quotations.
GOVERNMENT SECURITIES.—A fall in the rates of
homeward exchange has induced an advance in the value
of stock paper, the premium on which is 8 annas per
cent. on the quotations in our last issue ; the value of
paper of the Five per Cent. Loan shows an improve-
ment of one anna per cent., and the discount on the
Four per Cent. Investments is about 12 annas per cent.
less than at the date of our last report ; probably spe-
culation on the recent political changes may have in-
duced apprehensions of the closing of the New Five per
Cent. Loan, and so have produced the improvement in
the market.

BANK SHARES.—Are necessarily affected by the im-
proved position of the money market ; shares of the
Bengal exhibit an advance of 100 rupees per share, and
Agra Bank shares 10 to 20 rupees per share, but those:of
the Union have again fallen in value.
SHARE-MARKET.—In this branch of investment but
little business obtain; ; the rates of investment may be
reported as below :
Calcutta Docking Company, value, C. r. 990 to 1,000
per share.
steam Tug Association, value, C. r.. 1,000 to 1,050
per share.
Assam Tea Company, value, C. r. 105 to 110. per share.
Bonded Warehouse discount, value, C. r. 30 to 40 per
share.
EXCHANGE MARKET.—As anticipated in our last,
operations have obtained at low rates ; recently (to meet
the dispatch of an intermediate mail) transactions to some
extent obtained in bills against shipments at 10 months'
date with documents at 2s. 1-3 d. per Co.'s rupee ; but
since then rates have been looking up, and buyers are
holding for better exchange ; an influx of foreign bills
from China is expected, which, with the contracted state
of exports at present, may however keep down the rates
of bills ; towards December, when the shipments of
indigo may commence, an improvement in the exchange
may be expected.
FREIGHTS.—The rates on homeward shipments ex-
hibit but little alteration from the quotations in our last
issue. The large amount of tonnage expected is against
any improvement within the current season.