The Sun.
London, England, 1864-07-05 00:00:00

MONEY MARKET

AND

COMBOHCIAL INTELLIGENCE,

CITY, TWELVE o'CLocit:
A decidedly easier feeling is apparent in the
Money Market this morning, there being less de-
mand for money with a larger supply. The rate
for first-class bills is 5-4 par cent., and exceptional
transactions have been recorded at even a fraction
below that quotation.

There were no bullion operations at the Bank
yesterday.

'lle Olympus has arrived from New York with
X 37,640.

The subscription-list of the Ebbw Vale Com-
pany will closa on Monday, the 11th inst., for
London, and WLAnesday, the 13th inst., for the
country.

'The Committee of the Stock Exchange have alp,-
poiutei Friday, the Bth of Juiy, a special settling
day in the Bank of New South Wales new shares
and the lonian Bank new shares, both to be marked
in the official lists.

An extraordinary meeting of Shareholders of the
London Bank of Scotland was held to-day for the
purpose of considering the terms of agreement made
With the Mercantile and Exchange Bank, with a
view to the amalgamation of the two institutions.
Mr, W. W. CargiLl occupied the chair, and, in pro-
posing the resolution confirming the arrangement,
said that the Mercantile and Exchange Bank had
been started at an earlier date under more favour-
able circumstances, and possessed a capital of
I:4,000,000 in shares of £5O each, of which £lO had
been paid up, while the London Bank of Scotland
bad only a capital of £150,000 i❑ shares of £5O
each, of which £l3 had been paid up. The
latter bank woaid pay a premium on the amalga-
mation taking place, amounting to four years'
purchase of the prcfit made by the Mercantile and
Exchange Bank, over and above that secured by
the London Bank of Scotland. The resolution was
unanimously agreed to.

During the last few days there has been very
little activity in the Foreign and Colonial Produce
Markets. Sugars have been dull, at slightly re-
duced rates. For coffee there has been a moderate
inquiry without material change as regards values,
while in rice, tea, fruit, and spices there has been
little variation in the demand. The tallow market
has exhibited slight depression, and the quotations
for both present and forward delivery show a fur.
tiler downward movement.

Two o'CLocrc.
At Paris, this day, according to Mr. Reuter's
telegram, the Threeiper Cent. Ratites were 661'. 15c.
Dull.

The English Stock market continues quiet, but at
firm quotations. No one seems desirous to specu•
late till poiitic3l affiirs have assumed a more
settled condition. The Funds show no alte-
ration from the prices of yesterd,y, Con-
sols being -901 a for money and account.
The New Threes and Reduced Annuities are 891--
the Annuities, 1855, 143; March Exchequer &Its,
Bs. to 33. dis., June no., 5 dis. to pit.; India 5 per
Cents., 104,1 =7;; do. Enfaced 51 per Cents., 114 i;
and the Bonus, 10s. dis.

There is very little animation and variation in
the Foreign Market. Turkish 6 per Cents., 1862,
are 68,1, 4 ; do., Consolid6s, 493 ; Mexican, ex
ail, 281 4 ; do. New, 26 ; Greek, 257 ; Spanish
PLL.sire, 294 1; Portuguese, 471 i; Italian, 671 I;
and the Couted,frate Loan, 61 66.

Business in the Rzilway Share Market has been
animated, and prices have, in most instances, been
firmer. Great Northern A Stock, and Manchester,
Shi.ffidd, and London have each improved 11 10s.;
Midland, £2; Brighton, £1; and Great Western,
and Llncashire and Yorkshire each 1.
Tno Foreign and Colonial lines continue inactive,
at about previous rates.

Bank and Miscellaneous Shares have continued
rather quiet, without material change to recorl as
regards values. Cuarnourix United Hotel shares
are quoted prem.; Sun 4:6 G6e:ale De L'Em-
pire Ortornin, 11 2 prem.; cud Ebbw Vale Cem•
patty, li, loprem.

BRITISK FUNDS—ONE O'CLOCK.
O ovEnNatuzur FUNDS.
3 per Cent. Consols
Do Account, July 8
3 per Cent. Reduced
New 3 per Cent
New 2i per Cent. Jan. 1891
Do 5 per Cent., Jan. 1873 —
Annuities, 30 yrs, expire eth Jan., 1880 —
Do for 30 yrs, expire sth April, 1885 l4}
Do (Red Sea Telegraph), Aug. 1905 —
M June.
Exchequer Bills, £l,OOO, 21 & 3 per Cent. 8 disi•rch. 5 die par
Do £500
Do £lOO and £2OO
Bank England Ste, 5} per Ct.
Do Account..
INDI&N GOVERNMENT SECURITIES.
India Stock, 101 per Cent., April 1874 —
,;fd Do Account —
Do 5 per Cent. July, 1870 .... lO4 i
Do Account
Do 4 per Cent., Oct, 1883 —
Do Certificates
Do Enlaced Paper, 4 per Cent . .
Do 6 per Cent., Jan. 1872 —
Do 61 per Cent., May, 1879 .. 114/
Do 4 per Cent., Aug. 1866
1), bonds hl,OOO
Do under £1,000..
FOREIGN FUNDS—ONK O'CLOCK.
Austrian Bonds, 5 per Cent
Do 1859
Brazilian 5 per Cent
Do 41 per Cent., 1852-58-60
Do 1863 B7
Buenos Ayres 6 per Cent
Do Account 95
Do 1 per Cent. (Deferred 3 per Cent.) —
Chian 6 per Cent
Do 3 pei Cent.
Colombian 6 per Ceat
Cuba, 6 per Cent.
Danish 3 per Cent., 1825
Du 5 per Cent, 1864
Equador New Consolidated, 1 per Cent —
Egyptian 7 per Cent lOl/ 2/
Do, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupons —
Do Account
Do Coupons
Do Account..., , —
' Guatemala 5 per Cent. —
Do 1839 and 1859
Italian 5 per Cent.(Maremmana Railway;
Mexican 3 per Cent
Do Account
Do Scrip £23 paid
Do French Scrip, Ex. 25f 20e — die
Do 6 per Con . Anglo-French
Ditto Scrip, £23 paid
Moorish Imperial 5 per Cent
New Granada l3/
Do 2 per Cent.
Do Deferred
Do Land W arrants (Hectares) —
Peruvian 41 per Cent.
1)o 3 per t;ent. (Uribarren) —
Do 41 per. Cent., 1862 —
Do Account
Portuiru ese 3 per Cent., 1853
Do A' ;count
••
Do 3 per Cent., 1856, '7, '9, '6O, 62,'3.. 47/
Do A z.'count 47,
Do 1E.63 Scrip, £4O paid
Riksia) i 5 per Cent., [822, £ St —
Do 4't per Cent., 1850 —
Do :1 per Cent 1859
Do 6 per Cent, 1852
Do Anglo-Dutch
110 Scrip, £3O paid
Ear.iinian 6 per Cent
Do Account
Spanish 3 per Cent
Do Account
Do New Deferred
Do Account
Lo Pas.two
Account —
". Panish Cert. of Coup not funded
5,
vbeaa:A,czount lO
D'013111.4 per Cent
Tr. rkisbe", £6O paid — Pul
I 1 )0 ac° per Cent. 1854 —
,Uoun
0 6 Per Cent 18 -8
Di' Account • 0
Do £10(.) Bonds —
1)0 .6 Per Cent. 186', -
Do Account -
Do .1:100 BerlyB .. ...
Do. • SS 1I
1E63
Per Cont. ..
Do Gaarau..teed., 4
101
`Venezuela 3 per Cent. ....
Do Account
Do 6 per Cent., 1862 ... •
Do Account..
Do 6 per Cent, 1864 --••
Dot/ per Cent
--
Dividends on the above Payable in London
Austrian, 6 per Cent.. Ex. 10 Florins.
Belgian 41 par Cont., Ex. 25f. ....... --
Do Account
~, ...... -7.-
Dutch 2i per Cent., Ex. 12 1/4.7u.i1.. ...... 62/
Do 4 per Cent. Certificates .....
Italian, 5 per Cent., 1861, Ex. 25 francs..
Do Account
Peruvian Dollar Bonds, 41 per Ct. Ex. 4s.
Pieltnontaso, 5 per Cent" Ex. 25f —
Consols TWO O 'CLocE
plancY ." 9Ol 2 '
1)040001111t.isi:vs. tv simmi• stet 90e 4

c*.13.4

U.lO

.t

:SHARE MARKETS—This day.

ORDINARY SHA.IZELs AND STOON.S.

I Closing 1 Business
,
Share; Railways bUN OFFICE, HALF-PAST 4 o'CLocK.
I i
t 3.14.1 Hit. Wol., and Str. Val. all S 8j SPORTING INTELLIGENCE—This Pay,
st 3:ythe and Tyne.
i 0 iost.,Sleat.,andllid.Co all 61 91 9 I o
at Bristol and Exeter .... 100 85 R 7 NEWMARKET RACES—Tnis DAY.
st ualedonian lOO 1111 120 k 1.61
50 fork and Bandon a:l (BY ELECTRIC TELEGRAPH.)
20 riornvr ail 1 all 61 7
tY Do. B HANDICAP SWEEPSTAKES.
12 Do AIA vet' no dh 1 all
till 6pc.pan.has an Lieber .
been paid to B. Reindeer ....
50 Dublin & Belfast June. ~
all 35 87
25 Otin.PerthtAb. Juno. al! 16 17 SWEEPSTAKES OF 10 bOVS.
at Edinburgh & Glasgow. 100 80 91 Doef( ri
gissg. and S. Western. 100 104 V 6
St ,3reatEastern, Ord. sts 100 I 481 '94 491 ii i Yamuna ....
St Ditto A stock - . Four ran. •
St - Ditto East Anc,rlfan st 100 7 8
at tlreatNorthot Scotland 100 JULY STAKES.
st ~treat Northern lOO 13 135 Lidding ion
st Do A stock
st Do Bdo ... .. ..
.
st Gt. S. an,i W. of Irelan 100 90 9: Five ran.
st Lire :It Western ........ 100 CSI 681 681 2
st Do Str Val gua. stoa!: ..,;',O ---
st Lancashite & Yer%:"iiirt 100 135.1 111 1151 i CARLISLE RACES—THIS DAY.
et London and ..:lackwa-1 100 67 69
st Lon.. P:ight.,& S. Corot 100 10: (01 102 4 TRIAL STAKES.
st f_ou., Chat., and Dover 100 41 43 Eola
s': Len. & North Western 130 1131 1141 1 i4* 114 Barbara Allan
st Lon. & Sw.th Western 100 9.7 984 98 7}
st Nan., Shef., & Lincoln. 100 59 00 61 11 ----.
30 Maryport and Carlisie, all
121 Do t shares.. all
et qetropoittan ...., all 111' 1124 111! 412 11 ,PERIAL 12. A.„
TILIATIENT
st Midland
Do New
o -(e, •
. .
•st Do Birrninp,-. & Derby 100 103 1( 5 HOUSE OF LORDS—Last Evening,
gid. Gt. W. of Lrelan;-. all
25 Do. , shares
26
10 D ido
Cra M leenty
Line
St North British
st Edin., Perth, & Dundee 100 24 '"gs
DENCE.
't Nth. Eastern—Berwie, 100 1054 IC.6j 1001
25 Do, G.N.E. puroha.,,, 6.13.4 —.• The Earl of MALMESBURY gave notice that on Fri-
•,t Do Lecds lOO 61 6' 611
day next he should move, iu reference to the termination of
it Do York
et Do Carlisle loa the Conference, a resolution which% he would read. The
st North London
to Do New
15.4 North Statiordshire
lu N. and S. W. Junction all to lit his motion in the House of Commons.
it Scottish Central
Scot I.N. E.;' Aber. Bice, 100 36 33 38
THE DA NO. GERMAN WAR.
41 Do Scot. Mid. stook_ lcri Lord STRATFORD DE REDOLIFFE said that to-
te sbrewo. and Welolipo., all
q Shropshire Union ..., 10,) 56 (.7 morrow, before the orders cf the day were commenced, he
st South Devon lOO 35 :7 should ask a question of Earl Russell respecting
A ;South Wales
d ; the correspondence which was published in the
_ ,
41 S. York. and River Dun 103 101 100 Morning Post of Saturday last relating to the Conference.
?C, :Staines,Wok.,andWok. all i 8 9 He would state to-morrow his reasons for believing the
C 5 Stockton A Darlingtoi, all 364 374 3711
25 Do l7 94 10 , cl,,curnents more likely to be genuine than was generally
... Do New, 1800 lO 71 84 ( supposed.
,t, Taff Vale.
Earl RUSSELL, in reference to the genuineness of the
LO Do
,0 Do C 3 3 4 p correspondence, was understood to say that it was denied
fie Ulster
15 Do
.10 Do 54 ft---
u !Vale cf Neath
,1 IVictoria eta. and Pim lOO HOUSE OF COMMONS—Last Evening,
it !Waterford A Kilkenny 100 The SPEAKER rook the chair at four o'clock.
t ' West Cornwall lOO 15 37 16
t il'i. Hartlepool Har.&R ' 100 PRIVATE BUSINESS.
t IWest Midland -Oxford! 100 'The Furness arid Gas Water and the Scots Episcopal
t I
t I -Do Newport! 100 —--
Do Hereford 100 Funds Bills were read a itird time and passed.

EW

On the motion of Colonel TAYLOR a writ was ordered to
issue for the election of a member for the East Riding of
Gloucestershire, in the room of Sir W. Codrington, de-

ccaEcd.

THE DANO-GERMAN QUESTION,

Lord PALMERSTON said that he had received a
communication from the Prussian Ambassador to the effect
that the correspondence which was published in the papers
on this subject was a pure invention, (Hear, hear, and
laughter.) Under the circumstances, he had no statement
to make to the house at present.
Mr DISRAELI, who was received with loud cheers, rose
to move the following :—" That an humble address be pre-
sented to her Mejesty for directing the correspondence on
Denmark and Germany, and the protocols of the Confer •
ence recently held in Loudon, to be laid before Parliament;
to assure her Majesty that we have heard with deep con-
cern that the sittings of that Conference have been brought
to a close without accomplishing the important purposes
for which it was convened; to express to her Mejesty our
great regret that, while the course pursued by her Majesty's
Government has failed to maintain their avowed policy of
upholding the integrity and independence of Denmark, it
has lewered the just influence of this country in the coun-
sels of Europe, and thereby diminished the securities for
peace." The right hon. gentleman said—Mr. Speaker—Sir,
the longest and most disastrous wars of modern Europe have
been wars of succession. The Thirty Years' War was a
war of succession. It arose from a dispute respecting the
inheritance to a duchy in the north of Europe, not very dis-
tant from that duchy of Holstein which now engages the
attention or Europe. Sir, there are two causes that occa-
sion wars which originate from a disputed succession to
become usually of a prolonged and obstinate character.
They arise first f; am internal di,cerd, and in the second
place from foreign ambition, Sometimes a domestic party,
under these circumstances, has an understinding with a
foreign potentate; white again the ambition Of that foreign
potentate excites the distrust, and sometimes the envy of
brother Powers, and the cons: quence is that, generally
speaking, these dissensions thus created tend to prolonged
and complicated struggles. Sir, I apprehend—and, indeed,
I have not a doubt of it--that it was in contemplation of
the possibility of such circumstances occurring in our time
that the szater men of Europe, some 13 years ago or so—
knowing it was probable that the Royal line of Denmark
would cease, and that upon the death of the then king, his
dominions would be divided, and that in all probability dis-
putes as to the succession would occur—l say I have no
doubt it was because they were duly aware of these con-
tingencies that the statesmen of Europe gave their best con-
sideration to avert, if possible, such calamities to Europe.
Sit, in these days it is not possible, fortunately, that the
Powers of Europe should act under such circumstances as
they might have done 100 years ago. Then they would
have met in conclave, and would have decided under what
arrangements the internal government of an independent
kingdom, in the position of affairs to which I :,have ad-
verted, should be conducted ; and it is possible that evil
might have been prevented, or it might have resulted
ultimately in foreign wars. But although the Powers
of the present day very properly do not act in that
manner, they said to the King of Denmark, If you
and your people among yourselves can make arrangements,
in the contingency of your death without issue, which may
put an end to all internal discord, we at least will do this :
we will in your lifetime recognie the settlement thus in de,
and, so far as the influence of the great Powers can be exer-
cised, we will at least guard you from one of the great causes
which in cases of disputed succession have led to long wars
in Europe. We will guard Denm irk from the consequences
of foreign interference, foreign ambition,and foreign aggres-
sion. That is, I believe, a correct account of that cele-
brated treaty of May, 18d2, of which we heard so much, and
of which some descriptions are given which, in my opinion,
are utterly unauthorised and unfounded. Sir, there can be
no doubt that the purpose of that treaty was one entitled to
the respect of the communities of Europe. The language
of that treaty is simple, and expresses its purpose. The
Powers which concluded that treaty announced that they
concluded it not from their own will or arbitrary impulse,
but at the instigation of his Danish Majesty, in order to
give to the arrangements relative to the order of succession
an additional pledge of stability by an act of European re-
cognition—and if hon. gentlemen will look at that treaty
—and I do not doubt many of them are familiar with it--
they will find that the first article recites the efforts of the
King of Denmark to make the necessary arrangements with
the principal states and personages of his kingdom, in order
to effect the necessary alterations in the lex regia, and ending
with an appeal to the Powers of Europe that, he having
settled internal difficulties, they would, by their recognition
of the settlement, protect him from the risk of external clan-
ger. Under that treaty England incurred no legal responsi-
bility. England entered into no engagement other than that
which was entered into by France or by Russia. If, indeed, I
were to dwell upon moral obligations—welch I think are too
dangerous a theme to introduce into debates of this kind—
I might say that the moral obligations which France, of
example, had incurred towards Denmark, were of no or-
dinary character—that Denmark had been the ally of
France in that severe struggle which formed a most conga
derable portion of modern history, and had proved herself
a most valuable and a most faithful ally. Even at St Helena,
when contemplating his marvellous career, and meditating
over the past, the first Emperor, and founder of the dynasty
which now governs France, said the Kings of Denmark and
Saxony were the only sovereigns who were faithful to him
in his extreme adversity. Whereas if we look to our moral
obligations to Denmark, certainly they do not unite us to
that country, because we found in Denmark, in the tame
struggle, a persevering and gallant fog. Therefore, as far as
morel obligations are concerned, while there is none on our
pa, t, there is a sense of gratitude which might have influ-
enced the counsels of France. But in the treaty, and look-
ing to the treaty, there is no legal obligation incurred by
England to Denmark which was not equally incurred by
Russia and France. (Hear, hear.) Now the question which
I would first ask the house is this—How is it, under these
circumstances, that the position of France relative to Den-
mark is one so free from embarrassment—one might say so
dignified—(hear, hear, and a laugh)—that it has recently
received a tribute to its demeanour and unimpeachable con-
duct in this respect from her Blajestfa Secretary of Stet,—
(hear, hear)—while the position of England, under the same
obligations contained in the same treaty with relation to
Denmark, is one, all will admit, of infinite embarrassment
—(hear, heat)—and I am afraid of terrible mortification.
(Hear, hear.) That is the first question I will put to the
house, and which I think ought to receive a satisfactory
answer among other questions to .night, and I think the
first answer that occurs to me, the logical inference from
the circumstances is this, that the affairs of this country,
with respect to our obligations under this treaty, must have
been very much mismanaged to have produced conse-
quences so different from the relations of another Power
which occupies in that treaty a eimilar and Mont cal
position. Tho house is well aware that the dominions
of the King of Denmark have been occupied by Aus-
trian and by Prussian armies in former times. In
1818, when the great European insurrection took place.
there was no position of Europe that was more influenced
by it than Germany. There is scarcely a political constitu
tion in Germany that was not changed at that period, and