The Sun.
London, England, 1863-05-18 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.

More confidence is now apparent in the general
discount market, the commotion usually succeeding
an alteration in the minimum having now partially
subsided, while bankers and others appear inclined
to negotiate business. Some of the securities dis-
counted this morning have been taken at the Bank
rate of 31- per cent.

The General Credit and Finance Company of
London, with a first issue of capital amounting to
£2,500,000, in 125,000 shares of £2O each, has been
introduced to the notice of the investing classes. In
principle it is similar to that of the institution
known as the Credit Mobilier of France, and which
has already spread to Italy and Spain ; but it is,
however, modified to suit this country by the
exclusion of all stock-jobbing and purely specu-
lative adventure. The projectors believe that
there is room for such an institution, if prudently
managed, and that the profits will be very large;
it will negotiate loans, take contracts, deal in
securities, and make advances, assist industrial en-
terprises ; in short, it will do all that is now:done by
intelligent and wealthy capitalists, like the Roths-
childs, with the same prudent and skilful manage-
ment, and at least the same profits. Moreover, it
is to encourage the application of English capital in
India and the colonies, where, more especially in
the former, great works of public utility are im-
peded for want of capital, for which a very high
rate of interest is paid. The general management
is confided to Mr. Laing, late Finance Minister
of India, who is associated with a kindred society
just formed in Paris. Each company will act as
agent for the other. The board of the English
company consists of Mr. Laing, Mr. W. P. An-
drew (the chairman of the Scinde, Punjaub, and
Delhi Railway), Mr. Beale, M.P. (chairman of the
Midland Railway), Mr. Blount (the Paris banker),
Mr. Brassey, jun., son of the contractor, Mr. James
Thompson Mackenzie (deputy-chairman of the
Eastern Bengal Railway), Mr. Leo Schuster, Mr.
Charles Turner, M.P., Mr. Bramley-Moore, M.P.,
Mr. Alderman Salomons, M.P., and Mr. Stuart.
The French company comprises Messrs. Talabot,
Schneider, Bischoffzheim, and Co. ; Bartholony
(chairman of the Paris and Orleans Railway),
Simons (chairman of the Western Railways of
France), Pinard (director to the Comptoir d'Es-
compte, Paris), Perier (regent of the Bank of
France), and many other eminent men connected
with finance, industry, and commerce. Agencies
are also to be established in some of the principal
cities of Europe, and it is said they have already
secured Giles Loder for Russia and the Bank of
Darmstadt. The shares, which opened at 4 prem.,
are now quoted 31 1 prem.

The accounts from the manufacturing 'districts
for the past week have been rather unsatisfactory. At
Manchester these has been a falling off in the busi-
ness done in both cloths and yarns, owing to a fur-
ther advance in prices. The woollen trade of Leeds,
Bradford, and Huddersfield has continued quiet, in
consequence of the Lancashire inquiry for light
fabrics. In the hosiery and lace departments at
Leicester and Nottingham there has been little
change of importance; while at Birmingham,
Sheffield, and Wolverhampton there has been an
average amount of business transacted, chiefly for
home requirements.

Two O'CLOCK.
There has been very little business in the English
Stock Market today, and the few dealings entered
into have not resulted in any fluctuation, Console
being 938 f, for transfer, and 92}, less the dividend,
for the account. The New Threes and. Reduced have
been dealt in at 911 ; Exchequer Bills are
marked 4e. die.; India Stock, 232 ; and the 5 per
Cents., 1008.

The most important feature in the Foreign
Market to-day is the rise in Turkish Consolides,
which are now quoted 501 I. Turkish 6 per Cents.,
1862, are 711 ; Greek, 321 ; do., Coupons, 141
151 ; Spanish Passiyo, 241 25 nurt;-fln.too,
121 13 ; Mexican, 361 371; Grenada, 161 171 ; do.
Deferred, 101 ; Egyptian, 1001; Portuguese,
01 1 ; Italian, 711 72 ; and the Confederate Loan,
par to 1 preen.
Business in the Railway Share Market has been
rather inactive, but a firmer tone has prevailed.
Great Northern A Stock and North Westerns have
improved 108., and Midlands and South Easterns ss.
The operations on the Foreign and Colonial un-
dertakings have been very limited, and quotations
remain unaltered.
Joint-Stock Bank and Miscellaneous Shares
show, in one or two instances, rather more firm-
ness. Oriental Bank have improved to 55; Union
of London, to 351 ; Peninsular and Oriental Steam
are firm at 76 ; and Royal Mail Steam at 65 to 651.
The shares of the English and Scottish Marine
Insurance Company are quoted 2to prem.

BRITISH FUNDS—ONE O'CLOCK.
Bank Stock 234
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 3 per Cent. Annuities
India Stock 232
Ditto 6 per Cent lloa
Ditto Bonds £l,OOO
Ditto under £1,000..
Consols for Account, June 9 92
Exchequer Bills, £l,OOO 2i per Cent 4 dis

FOREIGN FUNDS—ONE O'CLOCK.
Brazilian 6 per Cent
Ditto 41 per Cent., 1852-58-60
Egyptian 7 per Cent lOOl 100
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupons —
Ditto Account 321 i
Mexican 3 per Cent
Ditto Account
Moorish Imperial 5 per Cent
New Granada
Ditto Deferred
Ditto Land Warrants (Hectares) Bl ti 1
Portuguese 3 per Cent., 1853
i 'Ditto Account
Ditto 1862
Russian 5 per Cent., 1822, £ St
Ditto 5 per Cent., 1862
Spanish 3 per Cent .................. i
Ditto Passive
Ditto Account .................
Spanish Cert. of Coup not funded
Turkish 6 per Cent. 1854 ..............
Ditto, £lOO Bonds 721
Ditto 6 per Cent. 1862
Ditto Account
Venezuela, 3 per Cent
Ditto 6 per Cent., 1862
Dividends on the above payable in London.
Italian, 5 per Cent., 1861, Ex. 25 francs —
Ditto Account 72 li
TWO O'CLOCK.
CO'IAMB, Money
Ditto Account 92 1