The Sun.
London, England, 1864-06-23 00:00:00

lIONEY MARKET

AND

CO?IMECIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.

The Bank of England rate of discount continues
at 6 per cent., the direotors at their weekly court
this morning not having considered it necessary to
make any further alteration. The requirements of
the Commercial public are still large; but, as it is
thought that in the course of a short time they will
be contracted within their usual limits, no surprise
has been occasioned by the continuance of the offi-
cial quotation at its present figure. The terms
Charged by brokers and others are equal to these
current at the national establishment, and a large
number of applications have consequently there
been made by the mercantile classes.
The committee of the Stock Exchange have ups
Pointed Monday, the 27th inst., a special settling
day in the shares of the London and Provincial
karine Insurance new issue, in the Millwall Iron
Works Company, and in the Otago and Southland
Investment Company (in the latter instance only us
regards transactions entered into on and after the
4th May), all of which are to be marked on the
official lists.

The last week's rai;way receipts, ascertained up
to this day, are, in round figures, as under:--

1864. 1863.
Great Western £68,807 £64,591
North-Western
South-Western
Brighton
Great Northern
Lancashire and Yorkshire... 40,830 35,210
North 'Eastern 61,588 53,303
Bristol and Exeter
Midland 46,721 41,054
South Eastern
Great Eas..ern
North British
These returns are in most instances of a very
favourable character when compared with those of
the same period of last year. On the Great
Western the increase is £4,208; on the North
Western, £10,296; on the South Western, £3,995 ;
on the Brighton, £29; on the Great Northern,
£3,763; on the Lancashire and Yorkshire, £5,620 ;
on the North Eastern, £8,285; on the Bristol and
taeter, £1,678; on the Midland, £5,667 ; on the
South Eastern, £2,059; Great Eastern,
£2,199 ; and on the Nortii British, £BOO.

We are informed that an arrangement on equit-
able and satisfactory terms has this day been pro-
'yisionally concluded for a fusion of the capital and
business of the London Bank of Scotland with the
Mercantile and Exchange Bank. The goodwill of
the former bank will be transferred to the latter,
Whose London board will be strengthened by the
addition of five of the present directors of the Lon•
don Bank of Scotland, and its nominal capital
i 8 by these arrangements to be increased to
4000,000, of which £BOO,OOO will be paid up.
The suspension has been announced of Messrs.
Lawrence and Fry, timber brokers, with liabilities
estimated at £250,000, and which have been ins•
curred, not in connexion with the timber trade, but
in the execution of railway contracts: According
to.the following circular it appears that a satisfac-
tory liquidation is relied upon

"10, New Bread-street, June 22.

"Gentlemen,—We regret to have to inform you that in
conseqzence of the non-payment of a very large sum of
money due to us we are advised, after mature deliberation,
t 0 suspend payment.
"We feel justified in asserting, however, that our assets
are largely in excess of our liabilities, and therefore with
the more confidence ask your kind forbearance pending the
investigation of our affairs by Messrs. Coleman, Turquand,
*Youngs, and Co.

. .
" We are, gentlemen, your obedient servants,

"LAWRENCE AND Fny."

The prospectus of the London Theatre Company,
Which will be found in our advertising columns,
is ono that seems to carry with it complete and
certain success, as the want of a superior place of
entertainment in the neighbourhood of King's
cross has lcng been felt. The object of the directors
is to erect a spacious and elegant theatre in that
neighbourhood (an admirable site having been
already secured), capable of accommodating 2,500
persons, for dramatic and operatic performances,
and a smaller one for first•class amateur enter-
tainments and concerts. There are already many
advantages in favour of the proposal, namely, a
densely populated neighbourhood, the absence of a
theatre north-west of the metropolis, the
proximity of the termini of the Great Northern,
the London and North-Western, the Metropolitan,
and the intended terminus of the Midland Railway.
The directors also propuse to associate with the
theatres a restaurant on an enlarged and improved
Beale, for the purpose of supplying to the public
refreshments of the very best description at the
lowest prices, which will doubtless prove a boon to
the public and a source of considerable revenue to
the company. The capital is fixed at £50,000, in
6,000 shares at £lO each. From calculations that
have been made, very nearly 20 per cent. profit is
anticipated.
The prospectus of the London and Southwark
Insurance Corporation has been issued, with a view
of affording additional facilities for life and fire in■
hurance on the south side of the Thames. In forming
the company the directors do not profess to base its
Prospects merely upon local associations, yet it must
be admitted that such a consideration must enter
largely into the probabilities of a successful under-
taking. It is certainly curious that up to the pre-
sent period no great effort has been made in this par-
ticular direction to extend the advantages of insur-
ance, especially as the boroughs south of the Thames
contain a population of no less than 650,000, in-
habiting 93,000 houses, beside which there are exten-
aive wharves, warehouses, and manufactures of many
denominations representing a vast amount of pro-
perty and influence. The promoters of this new
Company propose to supply the omission, and with
the talent and energy with which the matter has
been taken up the prospects of complete success is
almost certain. The directors are all first-rate men
of business, and the reduction that has lately taken
place in the rate of insurance duty, will no doubt
secure for them a large amount of business. The
capital is set
.down at £500,000. in 20,000 £25
shares; but, in the first instance, it is only proposed
to issue 10,000, with a call of £5, as there will be
no expenditure of " promotion money." The direc-
tors have already seemed very eligible offices in the
most prominent part of Southwark.

Two o'CLocx.
At the Paris Bourse this morning, according to
Router's telegrams, the Three per Cent. Rentes
Were quoted 65f. 87c.
The decline in the Stock Exchange markets yes-
terday was followed by a strong relapse through
rumours which for the moment led to the belief
that a peaceful settlement of the war in Germany
had been successfully obtained by the Ministers.
But this morning, however, the painful intelligence
gained ground that the Conference had broken up,
and that war would be recommenced, Which ex-
cited further distrust in the public mind, and Con-
sols have gone down 3.16 per cent., the quotations
being 89 1 for money, and for the account 894 90.
The New Threes and Reduced Annuities are 889 t ;
Exchequer Bills, sa. dis. to par. ; India 5 per Cents.
1049 y ; ditto 4 per Cents., 99,1, ; and the Bonds,
6s. dis. _

A general decline has also taken place in the
Foreign Market, and business is very dull. Turkish
6 per Cents., 1862, are 701; do., Consolides, 47a i;
Mexican 424 439 ; Greek, 231; Spanish Passive,
do. Certificates, 91 101 ; Portuguese 481 l; Rus-
sian, 871 ; Italian, 689 691; and the Confederate
Loans, 62 64.
Increased heaviness has prevailed in the Railway
Share Market. Metropolitan have declined as.,
Lancashire and Yorkshire 10s., London, Chatham,
and Dover 108., and Midland 155., while South
Eastern have improved ss.
The Foreign and Colonial lines "show little or no
Change.
1373,nk and iNficAlanecus Shares remain inactive.
and quotations in sorts instances exhibit less firm-
ness. London and VQ;lczaaa Bank are quoted 41