CHINA.

Lyttelton Times, Volume X, Issue 641, 29 December 1858, Page 6

CHINA.

(From the Overland China Mail, October 13.) ' _.-._.-' Hon S Kong. Oct. 12. Cotton.—Bombay, 15 dols. to 15 dols. 50 cents per picul,—nothing doing. Calcutta, 14 dols. to 14 dols. 50 cents per picul,—nothing doing. Exchanges—Oriental Bank Bills, on London 6 months' sight, 4s. 6d.; Private Bills, 7s.

SUMMARY OP NEWS. The Allied French and Spanish force continues its aggression on Cochin-China. The latest accounts we have received from that quarter were up to the 24th ult. The city of Jouron and two forts in Jeuroohad been captured, with heavy loss on the part of the Annamese. No less than 200 iron and bronze guns were found m the forts; and two of the guns, being of peculiar workmanship, are to be sent to the Queen otbpam and the Emperor of France. The allied chiefs were engaging guides to conduct their torees to Hue, the capital of the country, where it is said 100,000 native troops have been collected to meet them. But as yet only the most contemptible resistance has been offered by the Annamese. Their character is illustrated by the fact that of two French soldiers whom they captured, one was decapitated, and the other was compelled for some days to walkthrough the streets carrying his comrade's head.

The four high Commissioners appointed tn settle the new China Tariff' with Lord Elgin ar rived at Shanghae on the 4th inst. The Frenet and American ambassadors were both absent at Japan, but it was not supposed that his Lord ship would have to wait for their return before entering on businsss. The reception of the Com missioners was made a great affair $ the Yamun in which they took up their quarters was splendidly decorated; and the people of Shanghae "squeezed" proportionately. Little or nothing is known ns to the arrangements likely to be made, but Lord Elgin seems disposed to be influenced more by the merchants of Shanghae than by those of Hong Kong, although many of the former are only junior partners with the latter.

One of tlie most terrible cyclones ever known in the China Seas visited Swatow on the nifjlit of tho 21st September, destroying almost the entire shipping, both native and foreign and causing immense loss of life among the Chinese Large vessels were carried a long way inland by the huge waves; and not only were houses un roofed, but some of them had their walls blown down. Even the hurricane which visited Bombay in the commencement of 1855 was inferior to this, before which everything went down that offered any resistance. The loss of property to foreigners was very considerable.

Little business is being done at Canton, except in a kind of underhand way. The merchants expect to have to contribute largely to the indemnity money, and they are unwilling to come forward lest they should be " squeezed twice " A petition has been presented by the tea-mer-chants of Tikhwel and the Hoppo, requesting leave to have dealings with foreigners; and the result of the petition was that a special messenger was ordered to accompany a deputation of these merchants to visit Hwang, the GovernorGeneral of Kwangrung, in order to obtain his sanction to the resumption of trade. Pihkwer and the Hoppo have on their part sanctioned the recommencement of mercantile transactions, but it is doubtful whether there will be a recommencement to any extent until distinct permission is given by Hwang, who is now at Hwuichau, sixty miles distant from Canton.