The Sun.
London, England, 1863-05-22 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCE.
As it is imagined in monetary circles that the
measures adopted by the Bank directors will im-
part steadiness to the discount market, an inclina-
tion is evinced on the part of the joint-stock and
private establishments to secure business at the new
quotation. The mercantile community are, there-
fore, once more in a position to discount their bills
in the open market on the same terms as those re-
quired at the Bank itself, and if the specie move-
ment should improve, as many appear to expect,
facilities may be offered which will enable capi-
talists to find employment for their resources in the
negotiation of commercial securities. At present
business cannot be concluded under 4 per cent., but
altogether the aspect of affairs is less unsettled
than it was before the minimum was adjusted at
that figure.
Two alterations in the minimum rate of discount
within a week had prepared the public for an un-
favourable Bank return, and the results are not
more important than most persons had anticipated.
The principal feature is a considerable addition to
the amount of discount business transacted, and
which, in fact, is the cause of the measures forced
upon the Executive. The movements in the notes
and gold, although adverse, are comparatively
limited. Subjoined are the particulars :
Active Circulation .. £20,683,110
Increase
.•
. 45,500
.
Bullion .. 14,529,451
Decrease 00 00 gib .. 123,690
Rest
.. 3,152,019
Increase .. .. • • 13,367
Public Deposits •• •• •• 7,610,278
Increase . .. 875,141
Other Deposits.. .. 13,983,654
Increase .. 256,098
Seven Day and other Bills .. .. 585,205
Decrease 30,101
Government Securities .. ' . 11,151,395
No alteration.
.. 20,236,420
.. 1,283,695
.. 7,661,395
82,920

Other Securities ..
Increase .. ..
Notes Unemployed ..
Decrease .. • •

During the last day or two there has been very
little activity in the Foreign and Colonial Produce
Markets. On Wednesday business was suspended
owing to the " Derby," and even yesterday the
operations were on a very limited scale. Sugars
have exhibited a slight decline, while good and
fine descriptions of coffee have maintained previous
rates. In tea, rice, fruit;, and spices there has been
litte alteration. Tallow has been in fair demand at
about previous quotations.

A circular has been issued by the London and
South African Bank announcing the issue of the
5,000 new shares of £2O each, resolved upon at the
recent meeting of proprietors. The allotment is to
be made in the proportion of one new share for
every four shares now held at a premium of £2 each.
The instalments are to be paid monthly, and will be
completed on the 20th November next.

Dulness is still the principal characteristic
of the market for the English Funds, speculative as
well as bonafide dealings being very much curtailed.
Although affairs appear inactive quotations con-
tinue steady, Consols being 931 for money, and
928 I, less the dividend, for the account. Consi-
dering the recent alteration in the rate of discount,
the unfavourable Bank return, and the tendency of
the specie movement, the market has exhibited
greater strength than might have been expected.
Transactions have taken place in the New Threes
and Reduced Annuities at 9111; in Bank Stock
at 235; and in Exchequer Bills 4s. dis. ; India 5
per Cents. are 1091 1101, and in the Enfaced 5 per
Cents. at 1071.

There is not much animation in the Foreign
Market, and prices are depressed. Turkish 6 per
Cents., 1862, are 71j t; ditto Consolides, Mi ;
Greek, 31/ 32; ditto Coupons, 14k 16; Spanish
Passive, 341 35 ; ditto Certificates, 12i ; Portu-
guese, 49 ; Russian, 927; 2 ; Mexican, 35136;
and and the Confederate Loan to 1 prem.
In the Railway Share Market the operations
have been very limited, and in several instances
prices have exhibited less buoyancy. Great
Northern, North-Western, South-Western, and
North-Eastern (Berwick), have declined about 55.;
and Lancashire and Yorkshire, 10s. ; South-Eastern,
however, have improved about £l.

For the Foreign and Colonial undertakings there
has been a moderate enquiry, at about previous
quotations.
Joint-Stock Bank and Miscellaneous Shares
generally show a slight improvement. Chartered of
India, Australia and China, have advanced to 29-1,
London and Westminster to 79, and City Bank to
108. Italian Irrigation 6 per Cent. Bundy r..mained
steady at 29.

BRITISH FUNDS—ONE O'CLOCK.
Bank Stock 235
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities 93s a
New 3 per Cent. Annuities
India Stock
_ _ _

Ditto 5 per Cent
Ditto 5 per Cent
Ditto 5i per Cent.
Consols for Account, June 9 92}
Exchequer Bills, £l,OOO 21 per Cent —
Ditto £SOO
Ditto Small par
FOREIGN FUNDS—ONE O'CLOCK.
Austrian Bonds, 5 per Cent ..
Ditto 4} per Cent., 1852-58-60
Buenos Ayres 6 per Cent
Ditto Account.
Chili= 6 per Cent.
Ditto 4} per Cent
Egyptian 7 per Cent loo}
Greek 5 per Cent., 1824-5, ex-Coup ms —
Ditto Account 3ll 21
Ditto Coupons l4l /
Italian 5 per Cent. (Maremmana Railway) 79
Mexican 3 per Cent

Ditto Account
New Granada —
Ditto Deferred lO
P,ruvian 4/ per Cent.
Ditto 41 per Cent, 1862 —
Ditto Account BBl
Portuguese 3 per Cent., 1853
Ditto 3 per Cent., 1856, '7, '9, '6O, 62 —
Ditto Account
Russian 5 per Cent., 1822, St —
Ditto 5 per Cent., 1862
Spanish 3 per Cent
Ditto Account ..... . 54e.
Ditto New Deferred ****************** '
Ditto Account
Ditto Passive ......................... 48-
Ditto Account .......
.. 35 41
Spanish Cert. of Coup not funded ...... 121 1
'Turkish 6 per Cent. 1854 _
iliac) Account
Ditto 6 per Cent. 1858
Ditto Account .. 70/
Ditto 6 per Cent. 1862
Ditto Account 7ll i i
Ditto Guaranteed, 4 per Cent
Venezuela, 3 per Cent
Ditto 6 per Cent., 1862
Dividends on the above payable in London.
French Rentes, 3 per Cent., Ex. 25f..... 69f. 75c.

TWO O'CLOCK.
Console, Money
i)itto Account 92i i xd

The Emperor of Austria has commuted the
punishment of Count Ferdinand Zichy to imprisonment
for one month in the house of the Provost Marshal. (The
original sentence was " hard labour for one year, and loss
of nobility.")
THE RIVAL SPARROWS.—In the interior of the
Tyne Dock waggon shops the attention of one of the
workmen was, about a week ago, attracted to the move-
ments of a pair of sparrows engaged in constructing a nest
in a hollow where two girders meet for the support of the
iron roof. For several days they laboured most assidu-
ously in preparing their abode, when' by som A
some
sudden
freak, the progress of the tiny fabric was suspended.
few mornings afterwards tiv ears of the workmens wereand
saluted by loud chirping and the fluttering of in
from what transpired subsequently, it was evidentg that
the female bird had severed the connubial bond, and en-
listed the affections of another, who now vigorously con-
tended with the rejected bird for possession of the nest.
For several hours the conflict continued, until the usurper
proved the strongest. The rejected bird shortly afterwards
returned and hovered about the spot, apparently watching
an opportunity for revenge. This speedily occurred, for
in the course of a short time the newly-joined pair left
for a brief period. In their absence the defeated sparrow
approached the nest, and, placing his back beneath
the feathery mass, raised it from its resting
place and sent it to the ground. The surprise of the other
birds, on their return, at beholding the demolition of their
dwelling appeared to be great, and was amusing to observe.
Notwithstanding this disaster, however, they commenced
to build a second nest in the same place, the rejected mate
Watching their proceedings with apparent interest. After
wo days of incessant labour, they again left for a short time,
and taking advantage of their absence, the disappointed
bird again demolished their feathery residence. The birds,
on their return, commenced to build their third nest, in
which work they go WM engaged,—fi/oW4 Gazfete.