The Sun.
London, England, 1864-05-12 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.
The terms for first-class bills in the general dis-
count market remain without alteration. The
directors of the Bank of England have also re-
frained from making any change in their minimum
quotation, and the market, although not inactive,
presents a somewhat quiet appearance. It is be-
lieved that when the forthcoming Stock Exchange
settlement shall have been completed the demand
for discount purposes will have been considerably
lessened, and the public may look forward for some
substantial concessions at the hands of the autho-
rities.

About £106,000 in gold was taken into the Bank
yesterday.
The Agincourt, from Melbourne, has arrived with
£12,588.
The committee of the Stock Exchange have ap-
pointed Monday next for a special settlement of the
scrip of the Russian Anglo-Dutch Five per Cent.
Loan, and Wednesday for the Silvers Indiarubber
Works and Telegraph Cable Company, both to be
officially marked,
The directors of the London and South Western
Bank (Limited) have resolved to issue rateably to
the proprietors the additional 5,000 shares, as
authorised by the articles of association, at a pre-
mium of £2 10s. per share.
The directors of the Scottish and Universal
Finance Bank have concluded arrangements with
Messrs. Iloggard and Co., bankers and bullion
merchants, of 85 and 86, Cheapside, by which the
whole of their business and connection is transferred
to the bank. One of the firm will join the board.
The success which has already followed upon the
exertions and management of the Alliance National
Land, Building, and Investment Society has led
the directors of the company, with a view to the
still farther development of the scheme, to invite
subscriptions on easy terms towards a first capital
of £lO,OOO, in £lO shares, under the limited liabi-
lity act. The gentlemen forming the direction of
the Alliance Company are most of them well
known, and are some of them eminently prac-
tical men, They seek to ext End over the United
Kingdom, further than they have done already,
branches of an association in which small sums
may be deposited on good security, and which will
at the same time produce a satisfactory rate of inte-
rest to the small capitalist so investing his savings.
They appear to have invented, moreover, in some
sort an original plan by which the small trades.
man or artisan, by a monthly payment (as in an
ordinary building society), may accomplish this—
viz., by the issue of £25 debentures, payable by
2s. 6d. monthly instalments, upon which compound
interest at the rate of 6 per cent, is allowed. The com-
pany also undertakes to receive deposits at 5 per cent.
It undertakes, in a word, to afford a safe and profit-
able opportunity for investment to small capitalists.
As indicative of the fair prospects before this assn.
elation the capital stock is now said to be in such
demand as to command a small premium. While,
in evidence of the manner in which it has already
been taken up in the sister kingdom, we may call
the attention of investors to the fact that since
January 1, 1864, the sum of £16,000 sterling has
been advanced on first-class securities, and upwards
of 7,000 shares and debentures have been taken up.
Mortgages for more than £40,000 are in course of
completion, and the company now consists of
upwards of 1,500 share and debenture holders.
The Mercantile Credit Association have notified
the terms of arrangement with the Imperial Finan-
cial Company, assented to by the respective boards,
subject to the confirmation of the shareholders. The
union is to take place on the Ist June, under the
title of the Imperial Mercantile Credit Association,
Limited, each company dividing its profits up to
that date. The capital of the amalgamated com-
pany to consist of 100,000 shares of £5O each ;
50,000 shares to be allotted to the shareholders of
the Mercantile Credit Association, Limited, at £1
premium, in proportion to their holdings (that is
five for every two shares) in that association, and
the remaining 50,000 shares to the shareholders of
the Imperial Financial Company, Limited, at £1
premium, in addition to the £5 already paid, in
proportion to their holdings (that is share for share)
in that company. In the issue of 50,000 shares to
the shareholders of the Mercantile Credit, the £5
already paid on the 20,000 shares will be placed
to their credit. The capital of the Imperial Mer-
cantile Credit Association, Limited, will then stand
thus :-100,000 shares of £5O, £5 deposit and £1
premium, £5,000,000 capital, £500,000 paid up,
and £lOO,OOO reserve.

The last week's railway receipts, ascertained up
to this day, are, in round figures, as under :

Great Western 1864. 1863.£63.884 R 61,200
North-Western
South-Western
Bri hton
18,519 17,934
South Midland, ... .............•
.
Ea5te.......
.... ...... 44,439 39,920
rn ............. ..... 31;112 28,041 Great Northern
... .......... 29 348 26 154
NLancashire and Yorkshire. ...... 38,090 32,944
orth Eastern .............................. 57,888 60,856
Bristol and Exeter ............ 6,951 5,0971
Manchester, Sheffield, and Lincoln .......... 15954 1509
North British ......................... 12,843 12,030
Great South-Western of Ireland ........ 9,272 9,329
These returns are in most instances of a satisfac•
tory character, compared with those of the same
period of last year. On the Great Western there
is en increase of £2,684, the North Western of
£8,173, the South Western of £156, the Brighton
of £385, the Midland of £4,519, the South Eastern
of £3,071, the Great Northern of £3,194, the
Lancashire and Yorkshire of £5,140, the North
Eastern of £7,032, the Manchester, Sheffield, and
Lincoln of £857, the North British of £Bl3, but on
the Greet Southern and Western of Ireland there
is a decrease of £57.

Two o'CLocK.
At Paris this morning, according to Reuter's
telegram, the Three per Cent. Rentes were 66f. 75c.
4 *--.Firra.

A further decline of k per cent. took place in the
Ruglish Funds, through continued sales of stock
Purchased, when lower prices prevailed. The
tnarlret has presented a heavy appearance,
and Consols are 9li for money, and
~Qk .1, less the dividend, for the account.
-L he New Threes and Reduced:Annuities are 88i 89;
the 21 per Cents., 74 ; Red Sea Telegraph, 201 ;
\ilatch Exchequer Bills, 10s. dis. ; and June do.
Js. 48. dis.; India 5 per Cents. 104 105; do. 4 per

Cents. ; Enfaced 5 per Cents., 102 ; and the
B ends 243. die.

In the Foreign Market there is not much anima*
tior, and prices are rather heavy. Turkish 6 per
Cents., 1862, are 71 17; ditto Cansolid6s, 501 I;
do. New Loan,i- dis. to par; Greek, 228 ; Spanish
Passive, 341 d ; Portuguese, 478 48k ; Russian
Scrip, 11 I prem. ; Venezuelan, 5 4 die.; Swedish
1 prem. ; and the Confederate Loan, 64 66.
The dealings in the Railway Share Market have
been limited, and in some instances prices have
shown a slight decline, Great Western have re-
ceded 103. ; Lancashire and Yorkshire, 10s.; Mid-
land 10s., and Metropolitan £1 55., while Bristol
and Exeter have advanced ss; Caledonian, 55., and
South Western, 102.

The Foreign and Colonial lines remain very
nactive, without any material change in values.

Bank and Miscellaneous Shares have continued
in moderate favour. London and County have
improved ,L 1; London and Westminster, 102.;
Alliance Bank, £1 ; and National Discount Com•
pang, ss.

The following are the current quotations of some
of the principal new projects :—Scottish Universal
Bank and Finance, 11 2 prem. ; Provincial Banking
Corporation, I 11 prem. ; International Land Credit,
2 2/ prem. ; Sabloniere Foreign Hotel, / 1/ prem. ;
and North Australian Company, 11Q prem.

BRITISH FUNDS—CLOSING PRICES,
GOVERNMENT FUNDS.
3 per Cent. Console
Ditto Account, May 8
per Cent. Reduced
New 3 per Cent .... 89/ 1 9
New 21 per Cent. Jan. 1891... ..... 74
Ditto 5 per Cent., Jan. 1873
Annuities, 30 yrs, expire sth Jan., 1880, —
Ditto for 30 yrs, expire sth April, 1885 —
Ditto (Red Sea Telegraph), Aug. 1908 2Ol
Mach. June,
Exchequer Bills, £l,OOO, 21 & 3 per Cent lO 4
Ditto £5OO
Ditto £lOO and £2OO
Bank England Stk, 5} per Ct.
Ditto Account —
INDI&N GOVERNMENT SECURITIES. •
India Stock, 10f per Cent., April 1874 —
Ditto 5 per Cent. July, 1870
Ditto Account....
Ditto 4 per Cent., Oct, 1888 991 /
Do Certificates
Ditto Enfaced Paper, 4 per Cent ..
Ditto 5 per Cent., Jan. 1872 .. 102
Ditto 51 per Cent., May, 1879 —
Ditto Debentures, 4 per Ct., April 1864
Ditto ditto Aug., 1866
Ditto Bonds Ll,OOO —
Ditto under £l,000
FOREIGN FUNDS—CLOSING PRICES.
Austrian Bonds, 5 per Cent —
Ditto 1859
Brazilian 5 per Cent
Ditto 4i per Cent., 1852-58-60
Ditto 1863 B6l 1
Buenos Ayres 6 per Cent —
Ditto Account —
.2,hilian 6 per Cent
Ditto 41 pet Cent .
Colombian 6 per Cent
Cuba, 6 per Cent. —
Danish 3 per Cent., 1825
Ditto 5 per Cent, 1864 —
Equador New Consolidated, 1 per Cent —
Egyptian 7 per Cent lO3
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupons —
Ditto Account
Ditto coupons —
Ditto Account —
Guatemala 15 per Cent.
Ditto, 1839 and 1859 —
Italian 5 per Cent. (Mareinmana Railway)
Mexican 3 per Cent
Ditto Account
Moorish Imperial 5 per Cent
New Granada —
Ditto 2 per Cent. —
Ditto Deferred —
Ditto Land Warrants (Hectares) —
Peruvian 41 per Cent ....
Ditto Account -
Ditto 3 per Cent. (Uribarren)
Ditto 41 per Cent., 1862
Ditto Account B5l
Portuguese 3 per Cent., 1853
Ditto Account
Ditto 3 per Cent., 1856, '7, '9, '6O, 62,'3 471
Ditto Account 4Bll 71
Ditto Scrip £4O paid .. A die
Russian 5 per Cent,, 1822, £ St —
Ditto 41 per Cent., 1860 ..
Ditto 3 per Cent 1859 .. —
Ditto 5 per Cent," 1862
Ditto 1864 Scrip, £lO paid
Ditto Anglo-Dutch
Sardinian to per Cent
Ditto Account
Spanish 3 per Cent
Ditto Account
Ditto New Deferred
Ditto Account ..
Ditto Passive
Ditto Account
Spanish Cert. of Coup noi funded —
Ditto Account
Swedish, 4 per Cent
Turkish 6 per Cent. 1854 —
Ditto Account —
Ditto 6 per Cent. 1858
Ditto Account 6Bl 8
Ditto, £lOO Bonds
Ditto 6 per Cent. 1862
Ditto Account .. 71}
Ditto £lOO Bonds 7ll
Ditto 1863
Ditto Guaranteed, 4 per Cent 99 1
Venezuela 3 per Cent.
Ditto Account —
Ditto 6 per Cent., 1862
Ditto Account
Ditto 6 per Cent, 1861
Ditto Scrip, £l5 paid
Ditto 11 per Cent
Dividends on the above payable in Loud )n,
Austrian, 5 per Cent., Ex. 10 Florins. .
Belgian 41 per Cent., Ex. 25f —
Dutch 21 per Cent., Ex. 12 Gail —
Ditto 4 per Cent. Certificates
Italian, 5 per Cent., 1861, Ex. 25 francs —
Ditto Account —

Consols M THREE
oney
t
DittoAcoount . . 90k ta d