The Sun.
London, England, 1864-05-27 00:00:00

MARKET

AND
COMMERCIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.

The requirements of the mercantile community
have increased with the reduction in the rate of
discount. The demand to-day for accommodation
is larger than it has been for some time past, but
capital is abundant, and the bill brokers are com-
peting for the business brought forward. The
quotations in the open market range from 61 per
cent. upwards.

The Council of the Bank of France have reduced
their rate of discount from 7 to 6 per cent.
A parcel of gold representing £52,000, was pur•
chased yesterday by the Bank of England.
The Ellora leaves to-day for Bombay with
£59,490 in specie, of which £37,040 is in gold, and
£22,450 in silver.
Advices from India and China state that at Cal-
cutta, May 7, exchange on London was quoted
2s. 111.; at Bombay on the same date money was
reported to be in good demand, and exchange
2s. iti ; at Canton, 26th April, exchange was
4s. 96d ; and at Shanghai, on the 20th April,
65.6 d.

The Bank of England return for the week ending
Wednesday presents some very satisfactory altera-
tions, and shows the great improvement that has
latterly taken place in the position of the establish-
ment. The bullion and reserve of notes have been
increased, while an important diminution has been
made in the stock of other securities. Subjoined is
our usual analysis :
Active Circulation £20,416,805
Decrease .. 402,730
Bullion .. 13,713,943
Increase .. 446,497
Rest • • .. • . •• 3,290,033
Increase B. •II O. •• 9,306
Public Deposits • . 7,971,003
Increase .. 404,342
Other Deposits.. .. 12,882,042
• •• • • • . Decrease . 80,360
Seven Day and other Bills 451,242
Decrease •• •• 42,575
••
Government Securities 10,785,267
Other Securities No alteration.
.. 20,414,
Decrease .• •• •• •• 5515
8,514
Notes Unemployed. .. 7,274,500
Increase .. .. 842,870

Business in the Foreign and Colonial Produce
Markets, during the last few days, has been in
some measure suspended in consequence of the
absence of many of the dealers at Epsom, In the
private market tea has been at steady rates, while
sugar has been held for fully previous prices. In
coffee, rice, fruit, and spices, there has been no ma-
terial charge as regards values, while only limited
dealings have token place in tallow, at about former
prices.

The National Bank, Old Broad.street, have just
issued one of the most flourishing annual reports
we have seen for many a year. The directors an-
nounce a dividend at the rate of 8 per cent. per
annum on the capital of the bank, in addition to the
Us. per share which was paid in February last.
The amount of undivided profits this year, after
paying the dividends, is nearly £130,000. Last
year the undivided profits were £103,729 3s. 10d.,
after payment of tie February dividend. These
figures show the confidence the public have in this
old established bank.

The prospectus of the Reading Ironworks Com-
pany (limited) has been issued with a proposed
capital of £200,000, in 10,000 shares of £2O each.
The first issue to be limited to 5,000 shares, £1 per
share payable on application, and £3 per share on
allotment, future calls not to exceed £2 per share
at intervals of not less than two months, and inte-
rest at the rate of 5 per cent. per annum will be
allowed on all calls paid in advance. This company
has been formed for the purpose of purchasing and
carrying on the old established business of Messrs.
Barrett and Co., of Reading, iron founders,
engi-
neers, agricultural implement makers, &c., &c.,
whose co-operation in the future business operations
of the company has been secured. The directors
have entered into an equitable and satisfactory
agreement with the vendors, by which they will
secure the freehold of the Kelesgrove Ironworks,
Various other freeholds and leaseholds, as also the
goodwill, stock, plant, and machinery, patent rights,
&.J., which are now in profitable operation. The
object of the company is to raise the capital named
with a view to fully develop the manufacturing
resources of the works, and to supply the rapidly
increasing demand at home. A dividend of 10 per
cent. is estimated from the date of the allotment of
shares.
Special meetings were held to-day by the pro.
prietors of the London, the St. Catherine, and the
Victoria Dock Companies, for the purpose of passing
resolutions applying to Parliament for power to
amalgamate the three institutions.

At Paris this mornin Two O'CLOCK.
g, according to Renter's
elegram, the Three per Cent. Rentes were 66f. 75c.,
66f. 70c. Heavy.

The English Stock Market opened this morning
with a firm appearance, but a flatter tone has since
predominated. The alteration has been immaterial,
Consols being quoted 91Z I for money, and 90 5.16
7-16, less the dividend, for the account, The New
Threes and Reduced Annuities are 89; 1; Ex-
chequer Bills 12s. to Bs, die. for March, and '7B. to
33. dis. for June ; India 5 per Cents., 105 - 106 ;
do. 4 per Cent., 100; the Debentures, 981; and
the Bonds, 18s. dis.
There hss been a moderate business in Foreign
Stocks, but sales having preponderated many of
the securities have receded. Mexican bonds have
declined 1, to 44k ; and the Scrip of the New
Loan, to 1 die. to par; Greek are also / worse, at
24 -I; Spanish Passive, I, being 34 1 ; and the Con-
solidifis aro down 1, at 48Z ; Russian Scrip is 1
better, being 31 4 prem.; and the Confederate
Loan has advanced 1 per cent., viz. to 64 65 ;
the Swedish is 21 3k prem. , and
Business in the Railway Share Market has con-
tinued rather inactive, and prices have, in some in-
stances, shown lees firmness. Metropolitan have