The Sun.
London, England, 1863-01-20 00:00:00

'ONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.

The rates of discount show rather a downward
tendency, but the actual movement is merely frac-
tional, Bills, for instance, which could not be ne-
gotiated last week at 3-'4 per cent., are now taken
at 311 per cent., and the supply of money is abun-
dant.
The committee of the Stock Exchange have ap-
pointed Friday next for a, special settlement in the
shares of the Scinde, Putijaub, and Delhi Bank,
and the South African Irrigation and Investment
Company. Dealings in both are to be marked in
the official lists.
A call of £3 per share, amounting together to
£300,000, became due to.day on the East Indian H
Extension Railway shares.
During the last few days there has been less ac-
tivity in the Foreign and Colonial Produce Markets.
The operations in tea have been deferred until the
public sales, which take place to-day. Sugars have
been in moderate request at about previous prices ;
While in coffee and rice an average amount of busi-
ness has been done without producing any material
change in values. Saltpetre has been in more re-
quest, at enhanced rates for superior qualities; and
tallow has shown a slight advance, owing to the
increased demand for home consumption.

Two O'CLOCK.
The Liverpool cotton market to-day was quiet,
and sales about 3,500 bales.

At the fourteenth half-yearly meeting of the City
Bank held to-day, Mr. Peter Bell in the chair, the
following report was read to the meeting, and
unanimously adopted :
The directors have now to lay before the shareholders the
half-yearly report of their proceedings. By the abstract of
the profit and loss account, it will be perceived that, not-
Withstanding the low rate of interest which has prevailed
during the whole of the period, the profit for the past half-
year amounts to £36,783 Bs. 2d., which, with £2,172 13s.
10d. brought forward from the previous half-year, increases
the total amount at their disposal to £38,961 2s ; this enables
them, after paying all the current expenses, making ample
provision for bad and doubtful debrs' and for rebate on bills
discounted not yet dae, to declare the usual dividend of £6
per cent, per annum upon the increased capital, with a
bonus of £1 per share, together equal to 10 per cent, per
annum (free of income tax), and to carry forward the
anrn of £2,660 Is. bd. to the new profit and loss
account. The directors have to announce that, having
resolved to open a branch of this bank at the \Vest-end,
they have secared eligible premises at No. 31, Old Bond-
street, and that the branch will be opened, as soon as the
necessary alterations and repairs have been completed. The
directors have further to report that, since the last meeting
of proprietors, Alderman Sir Robert Walter Carden has
resigned his seat at the board ; this, however, does not oc-
casion a Vacancy, there being still the usual number of
twelve directors.

The chairman, in alluding to the principal features
in the report, congratulated the proprietors upon
the continued progress of their institution, and
stated that, notwithstanding the great drawback
in their operations through the low value of money
which had lately and so long prevailed the direc-
tors were enabled to pay the same dividend on
their increased capital of £lOO,OOO. In answer to
a question the chairman stated it had not yet been
considered advisable to fill up the vacancy in the
direction, occasioned by the retirement of Sir
Robert Carden. An intimation was made to that
gentleman that a change in the chairman-
ship of the bank was deemed desirable,
and upon that intimation Sir Robert had resigned
his seat. A resolution was passed acknowledging
the services of Sir Robert, to which he replied,
and spoke of the great benefits the bank had de-
rived from his presidency. Votes of thanks were
also tendered to the directors, after which the busi-
ness of the meeting terminated. The dividend and
bonus was ordered to be paid on and after the 27th
inst.
The half-yearly general meeting of the proprie-
tors of the St. Katherine Docks was al: o held to-day.
The report was as follows :
The following is the result of the business of the past
„Year :—Gross earnings, £254,657 lls. 9i., expenditure, in-
`;',llding interest, £195,821 19s.earnings, £58,835
ear
14} 7d.
Out of this amount a dividend for the half-y
prided the 30th June was declared at the general meeting
In July last, of lt per cent. (free of income-tax) upon the
capitalca stock of the company, and the directors recommended
a dividend at the same rate be now declared for the
half-year ended the 31st December last, such dividend to be
Payable on and after Saturday, the 24th inst. This divi-
dend will amount to £29,097, and leave a balance of £641
128, 7d. to be carried forward. In the course of the last
Year the directors have been obliged to reinstate several of
the works belonging to the docks. The cost of the same
has been charged direct to the rest account. The amount
to expended is £8,116 7s. 3d., and the rest will accordingly
now stand at £60,528 Bs. 6d. This completes all that was
requisite to place the whole of the property in the highest
state of efficiency, and the directors have reason to believe
fthat there will bo no necessity for any further restorations
for many years to come.
ir many
M. Cater, who presided, briefly recapitu-
lated the leading features of the report, and moved
ins adoption. A discussion ensued respecting the
large amount of expenditure incurred up .-‘n the
small sum whieh represented the earnings. It was
said that the company were paying 41 per cent. for
111°Iley borrowed, while the dividend proposed was
,°,n137 31 per cent. The expenses altogether upon
'"e income wit 62 per cent. The Chairman re-
plied by observing that it was impossible to curtail
the expenditure, the officers being at present much
anger
paid. The report was ultimately adopted,
a vote of thanks tendered to the directors.
An improvement of Is per cent, has taken place
it°:.day in the English Funds owing to some specu-
:.ilve purchases. Consols are 921 a for money,
continues 11 for acectint. The market, however,
quiet. The New Threes and the Reduced
Cents have improved to 92 71. Indian 5 per
have been dealt in at 108 y; 5 per Cent.
•r. 4 nfaced at 106; and the Debentures at 100 k 1.
.tx h
to 7as. epeireeernr
ißuimils, have been a little flatter, viz., 3s.s
beenth eAFoorea xrtfed ei
to
rather buoyant tone has been perceptible in
gnnsiN .I\,el.4'.ket, but the transactions have not
'Turkish 6 per Cents., 7
181 ; ditto,s4,have
851862- 86 ; ditto 1858, 7o
v
, 661 67 ; and the ''onsolides have risen to 40*
t Egyptian. are firmer at 941 95 ; ditto, 2d i-sue,
941 ; Greek, ; ditto Coupons 6.a; Italian, 693 ;
ditto Railway Loan, 721 ; Mezie'an, 321 ; Peruvian
New Loan, 88; Portuguese ditto, 469 a ; Itu,sian
ditto,, 964-; Sardinian, 84; Spanish Passive, 24,1 ;
°Litt° Certificates 91 10 • and Venezuelan New Loan,
64. P, f

Business in the Railway Share Market has been
neeedrngly inactive, and prices have remained
without
and any change of importance. South Easterns
Metropolitans improved about 55., and Great
•INortherns, 10s ; Lancashire and Yorkshire, how-
"el') declined ss.
The Foreign and Colonial undertakings gene-
rally maintained previous prices. Recife and San
Francisco brought 19 ; San Paulo, 231 ; Sambre and
10u; Cape Town and Dock improved to 109
Cents ; Eastern Bengals, to 106 t ; Madras 6 per
Baroda
have declined to 103 t ; and Bombay and
remain steady at 1061.
Joint Stock Bank and Miscellaneous Shares
are in one or two instances a shade firmer. Alli-
ance of London and Liverpool have improved 65.;
Londona and Buenos Ares 10a. ; Union of Aus-
6s. ; British and Americand Exchange Banks,
lia
prem.

BRITISH FUNDS—CLOSING PRICES.
Bank Stock ............ ...... 235/
3 per Cent. Reduced Annuities • 921 it fl
3 per Cent. Consols Annuities • 021 ,
New 3 per Cent. Annuities ......... 921 4 2
India Stock .. . ............ Ditto 5 per Cent, ...... : ..... l-OSI
Ditte Enfaced Paper, 4 Pe; * Cent. * ******
Ditto 5 per Cent ...... ****
—6
51
10
Citto 64 per Cent ........ ..• . ll2l k
Ditto Debentures, 4 per Ct., Oct., 1863 100 f k
Ditto ditto April, 1864 100 k
DD tto Bonds £l,OOO .....
itto under £l,OOO ... ..
..
............... 18
Consols for Account, Feb. 5 .. .... .. 92(
Exchequer Bills, £lOOO, 21 per Cent 7 3 7
Ditto £5OO 73 7
Ditto Small
7 3 7
FOREIGN FUNDS—CLOSING PRICES.
gpptian 7 per Cent 9ll 5
/
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupons
6144
Ditto Coupons
Italian 5 per Cent. (Maremmana Railway) 721
Mexican 3 per Cent
Ditto Account
28
New Granada 2 per Cent
Ditto Land Warrants 5
P ,ruvian 41 per Cent.
Ditto 1862
Ditto Account..
Portuguese 3 per Cent., 1853
Ditto
Ditto 1862
461 a
4 Scrip, 125
atußaian 5 per Cent.,paid 1822, St 2 Pin
Ditto 3 per Cent., 1859
Ditto 5 per Cent. 1862
oardinian 5 per Cent.
. 84
:Z.PDOa :i.tl:3ob:3accipcseoi rvuent Cent
211 1
91 10
~Ponish Cert. of Coup not funded
Turkish 6 per Cent. 1854
Ditto Account
iDitto
46
eepeoruCntent:
.1858
71 701
Ditto 6 per Cent. 1862
Accoum . 661 1 7
t-,Ditto Guaranteed, 4 per Cent lO3l
v enezuela, 3 per Cent
Ditto 6 per Cent., 1862
Dividends on the above payable in London.
Italian, 5 psr Cent., 1861, Ex. 25f.
Ditto Account 69a a
Consols,
THREE O'CLOCK.
Money
tsitt94o9llAttrittttsoomttitiviti 921 1