The Sun.
London, England, 1863-05-13 00:00:00

AND
COMMERCIAL INTELLIGENCE.

Two O'CLOCK.

The earlier transactions in the market for the
English Funds were at heavy prices, but purchases
laving since preponderated an improvement of
per cent. is now apparent, Consols being 931 for
money, and 92 k, less the dividend, for the ac•
count. Speculation continues very dull, and the
dealings for transfer are too limited to create acti-
vity. The New Threes and Reduced Annuities are
91 L 1, and the New 24 per Cents. at 764 77i;
Exchequer Bills are 3s. dis. to par; and Bank
stock is marked 232 234; India descriptions show
no material alteration of importance; the Stock is
quoted at 230 ; the 5 per Cent. Loan, 110; and the
Bonds, 17s. 20s. prem,

Business in the Foreign Stock Market this
moru'ing is less active, the arrangement of the ac-
count continuing to f)ccupy attention, but prices are
generally irm. Turkish 6 per Cents., 1862, are
713 721; do., Consolides, 543 3 ; Italian, 711 ;
Spanish Passive, 353 do., Certificates, 123 3 ;
Greek, 323 1 ; do. Coupons, 153 ; Mexican, 373 e ;
Portuguese, 493 ; Egyptian, 1003 ; but the Con-
federate Loan has declined to 33 23 discount.
Business in the Railway Share Market continued
rathn dull, the settlement of the accounts being
still in progress. Prices, however, have generally
shown a firmer tone. Great Northern A Stock,
North Western, South Western, and Midland have
each improved aboit 6s. ; and Great Eastern and
South Eastern 10s.

In the Foreign and Colonial Markets there has
been little change of importance. South Austria
and Lombardo-Venetian realise 22f ex div. ; Bahia
and San Francisco, 20 ; Eastern Bengal are firm at
111* ; India Peninsula at 110 to 110 k ; and Soinde
Delhi Stock at 1071-.
Joint Stock Bank and Miscellaneous Shares
generally maintain previous prices.

BRITISH FENDS—ONE O'CLOCK.
Bank Stock
3 per Ceat. Reduced Annuities
3 per Cent. Consols Annuities ..
New 3 per Cent. Annuities
New 21 per Cent. Annuities... 765 75
or:nties, 30 yrs, expire Sth Jan., 1880 —
Ditto for 30 yrs, expire sth April, 1885 145
India Stock 230
Ditto 5 per Cent llO
D ~, Bonds El.OOO
Ditto under £l,OOO .... 17 20 pm
Consols for Account, June 9 92
Exchequer Bills, £l,OOO 21 per Cent..., par 3 dis
FOREIGN FUNDS—ONE O'CLOCK.
Brazilian 5 per Cent
Ditto 45 per Cent., 1852-58-60
Chilian 6 Der Cent.
Ditto 45 per Cent.
Egyptian 7 pet Cent lOO 5
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupms 32/ 5
Ditto Account 325
Ditto Coupons l4 155
Italian 5 per Cent. (Maremmana Railway) 80
Mexican 3 per Cent
Ditto Account 375 1
Portuguese 3 per Cent., 1853
Ditto 1862
Russian 5 per Cent., 1822, £ St —
Ditto 5 per Cent., 1862 .. 921 31 25
Spanish 3 per Cent
Ditto New Deferred
Ditto Passive
Ditto Account 351 5 /
Spanish Cert. of Coup not funded
Turkish 6 per Cent. 1854
Ditto 6 per Cent. 1858
Ditto Account 7Ol
Ditto 6 per Cent. 1862
Venezuela, 3 per Cent
Ditto 6 per Cent., 1862
Dividends on the above payable in London.
Italian, 5 per Cent., 1861, Ex. 25 francs 715 1 1 5

TWO O'CLOCK.
Consols, Money
Ditto Account 92 i ad

Liverpool Cotton Market—This Day,

(REUTER'S TELEGRAM.)
Strong. Sales about 10,000 bales. Import
6,798 ; previously, 13,928. t.

Mr, Scratchley's Proposed New Life

Assurance Bill.

The following are the objects of the measure
Which is about to be introduced into the House of
Commons :

" 1. To place, by means of a nomination endorsed on a
policy, the wife and children of an assurer in the same posi-
tion as they would hold if the policy had been secured to
them by the formality of a trust deed.
"2. Under the present law, if a man assure his life, say
for £5OO or .£l,OOO, with the design of providing in some
way for his wife and children, the whole of the policy would
be liable to be impounded by any creditors who might hap-
pen to have claims upon the assurer at the time of his de-
cease, unless he had settled his policy for tne sole benefit of
his family by means of a trust deed.

" 3. The law, as it at present stands, places no impedi-
ment in the way of an assurer desirous of thus providing
for his family. It simply stipulates that the trust shall not
be created under circumstances indicating a desire to de-
fraud creditors,, and that the assurer shall not at the time of
creating it be utterly insolvent.

"4. For persons in a superior class of life, there is pos-
sibly not much difficulty in obtaining the consent of friends
to incur the responsibility Ind trouble not unfrequently aris-
ing out of trusts. But when a lower stratum of society is
reached there are multitudes of persons—highly respect-
able, but of limited means, uncertain position, and defective
education—who aro not suitable for trustees; while yet
the assurer may have no one else to whom he could apply,
and may have enough to do in paying the premium, with-
out incurring the expense of a trust deed.
"b. To this class, the power of securing all the advan-
tages of the present system of trusts, by a simple nomina-
tion notified to the office, would be an inestimable boon;
and it facilities for effecting this were granted by the Legis-
lature, assurance societies would be likely to transact a
greatly extend©d business, while much misery would bo
avoided to the families of the assured.

"6. Any one who has conversed with such persons as
email traders in country towns on the subject of life assur-
ance must have heard the observation that they would have
no objeciion to insure for some small amount, if the policy
Could be secured to their families free from the contingen
ties of their trade.
" 7. The privilege already exists in societies registered
under the Friendly Societies Acts ; and if extended to as-
surance societies, it is also to be anticipated that a vast
number of respectable working men would prefer to take
out policies i
ardor to be fiae a well• established assurance company, in
excess of a' k e from the risk of ultimate bankruptcy, from
le allowances, to which the majority of benefit
societies are
e osed.
,' 8. The intePo
unfrequently bynraiirco of the present law is also felt not
father, who, although families
on the death of a husband or
immediate means to pa for
insured his life, has left no
&c.; while yet, untitYprrbprobate duty, funeral expenses,
society, though disposed to ate
be granted, an assurance
portion of the claim in
anticipation of tho customaPaYpeeriod, cannot do so safely,
aerie; valid receipt.
for want of any one able to girvY
"9. Delays also sometimes from persons who, fan-
cying they have some claim on the policy, serve the society
with notice
sr 10 All these evils would be avoided by tho system of
nomination suggested, which, howers,ubroth protects the
om fraud,
interests of creditors in policies of
and
seeks to confer upon them consideraatleee It;
making assignments of policies recognisable at theeneat' by
law, instead of being merely rights enforceable ineeeeiretatv° -..
and allowing transters of the right and int. rest in a -pair
to be nada by a imply Endorsedient upon it (co lA° I.'3'
up e with notice to the office) without the expense, trouble, or dela
of an assignment deed," y

Aft ONE y MARKET

CITY, TWELVE O'CLOCK.
The general money market continues active, and
the rates remain very firm.

The steamer La Plata, from the West Indies, has
brought £230,000.
_ _

In— the foreign exchanges yesterday afternoon
there was no material alteration.

The prospectus has just appeared of the Royal
Marine Hotel Company of Kingstown, requiring a
capital of £lOO,OOO, in shares of £5 each. The
object is to provide Kingstown—a suburb of
Dublin—with a first-class Hotel; and, in order
to carry out this intention, it is proposed to
purchase the present Royal Hotel, with the
land adjacent, to be converted into an establish-
ment commensurate with the growing wants
of the place. The directors are gentlemen of great
local influence, and are sanguine of successful re-
sults from the fact that Kingstown besides being
renowned as a watering place, is fast acquiring a
character as a convenient packet station. The ar-
rangements for the transfer of the property appear
exceedingly favourable, and in addition to the pro-
fits derivable from the successful working of the
enterprise, the property includes a large piece of
land adjacent to the hotel presenting a good sea
frontage. Upon part of this land the directors in-
tend to erect an arcade capable of containing thirty
suites of apartments, with shops, and to let tht.
other portion for building purposes.
The Royal Mail Steam Packet Company held its
meeting to-day. The report of the directors was
adopted unanimously.