The Sun.
London, England, 1863-01-28 00:00:00

MONEY MARKPTI

AND
COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.

There is still an active demand for diicount ac-
commodation, and full rates are required for all
descriptions of mercantile bills. An impression
prevails in some quarters that an advance in the
minimum of the Bank of England will be speedily
announced.

A dividend at the rate of 8 per cent., and a bonus
of 16s, per share, have been declared by the
directors of the National Bank.

The next drawing for bills of exchange on India
will take place on the 4th proximo, to the amount
of £600,000.

The Asia Minor Comp .ny is a new undertaking,
formed for the purpose of encouraging the growth
of cotton in the country which bears the title of the
association. The nominal capital has been fixed at
£500,000, but only one•fifth of that amount is to
comprise the first issue in shares of £lO each. The
promoters are connected with the manufacture of
cotton in that country, and have already proved, by
a satisfactory test, the capabilities of the country,
and the desire of the cultivators to improve the
quality of their crops. Asia Minor is spoken of as
being peculiarly adapted for the production of the
plant, as containing abundance of free labour,
and possessing a ready means of transit by railway
and otherwise to Smyrna, which is within 15 days'
steam communication with Liverpool. The direc-
tors do not intend to engage directly in the culti-
vation of cotton, but by means of agencies in the
interior to stimulate and offer assistance to those
desirous of extending the culture of the plant. His
Imperial Majesty the Sultan has, moreover, inti-
mated his intention to encourage the growth of
cotton in his empire, and has consequently remitted
certain taxes on the lands. The company anticipate
to find abundant remuneration from making ad-
vances to cultivators, from the purchase of cotton,
and from the introduction of machinery for clean-
ing and baling the material. _

The directors of the Marietta and Cincinnati
Railroad Company have announced their intention
of receiving subscriptions for 1,500,000 dols. 7 per
cent. mortgage bonds on the line. The capital is
required to complete the construction of the even-
aion to Cincinnati. Pending this new line the com-
pany are using, at a rental, a portion of the Little
Miami Railroad, and the accounts published show
that the revenue is in excess of the expenditure, and
the amount required to pay the interest, &c. on the
new loan. These bonds are a first charge on the
income of the company, and the interest and prin-
cipal are payable in London at a fixed rate of ex-
change of 4s. per dollar, yielding about 81 per cent.
to the investor,besides the premium on redemption,
which is rather more than lt per cent. per annum
on the 30 years which the bonds have to ran.
The London and Midilesex Bank held its first
ordinary meeting to-day, for the purpose of ap-
proving the appointment of Mr. George Cooper,
the professional auditor to the establishment. After
a few remarks from the chairman, the appointment
was agreed to.

Two O'CLOCK.

A recovery of 1 per cent. from the depreciated
quotations, current yesterday afternoon, has taken
place in the English Stock Market to-day, Consols
being 9214 for money, and 921 1, for the account.
The New Three per Cents. and Reduced are steady
at 921 1; Exchequer Bills have declined to 2s. dis.
and par. Bank Stock is 235 and 237; and India
5 per Cent. Loan, 1081 1.
In Foreign Securities the transactions have been
of a moderate character, and prices in some in-
stances have shown less firmness. Turkish 6 per
Cents., 1854, are steady at 86/ ; do., 1858, 701 71 ;
do., 1862, 661 1; and the Consolides, 401 1 ; Egyptian
are 961 97 ; do., 2d issue, 96 ; the New Peruvian
Loan has declined to 861 871 ; Portuguese do. is
heavy at 461 ; Russian do., at 951 1; Spanish have
been very depressed, dealings having taken place
at 25Z and 261; and the Certificates are 9i.
Business in the Railway Share Market continued
dull, the preparations for the half-monthly settle-
ment occupying the chief attention of the dealers
and speculators. A heavy tone, however, has pre.
Tailed. Caledonians, Great Westerns, London,
Chatham, and Dover, North Westerns, and South
Easterns have declined 55.; Midlands, 10s.; and
Brighton, 15s.

The Foreign and Colonial lines remain without
change of importance.

HALF-PAST Two O'CLOCK.
ADVANCE IN THE BANK RATE OF
DISCOUNT.

The Bank of England authorities have this day
advanced the rate of discount from 4 to 5 per cent.
The measure has not created so much surprise,
although it has been adopted on Wednesday
instead of the usual court day, Thursday, because it
was generally perceived that the efflux of bullion
was of such a character as to necessitate a restric-
tive policy. Within the last few days the with-
drawals have been of magnitude, and there was
every prospect of their continuance, owing to the
situation of affairs in Paris, and the directors have
done quite right in the course they have adopted.
The private discount firma will now allow 4 per
cent. for money at call, and 44 per cent. with seven
days' notice of withdrawal. The Joint Stock
Banks will only give 4 per cent.

BRITISH FUNDS—ONE O'CLOCK.
Bank Stock 237 5
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities 92} i
New 3 per Cent. Annuities
India Stock
Ditto 5 per Cent lO5l }
Ditto Debentures, 4 per Ct., Oct., 1863 100 i
Ditto ditto April, 1864 Mt
Ditto Bonds £l,OOO
Ditto under 21,000..
Consols for Account, Feb. 5 921 i
Exchequer Bills, £lOOO, 2} per Cent par 2 dis 2 par

FOREIGN FUNDS—ONE O'CLOCK.
Equador New Consolidated l6/
Egpptian 7 per Cent 96! 7
Ditto, Second Issue
Italian 5 per Cent. (Maremmana Railway) 72
Mexican 3 per Cent
New Granada 2 per Cent
Ditto ex over-due Coups. & Hectares 13 1
Peruvian 4i per Cent.
Ditto 1862
Portuguese 3 per Cent., 1853
Ditto 1862 46/ 1
Russian 5 per Cent., 1822, £ St —
Ditto 5 per Cent. 1862
Spanish 3 per Cent
Ditto Passive
Spanish Cert. of Coup not funded
Turkish 6 per Cent. 1854 B6}
Ditto 6 per Cent. 1858
Ditto 6 per Cent. 1862
Ditto Guaranteed, 4 per Cent
Venezuela, 3 per Cent
Ditto 6 per Cent~ 1862
Dividends on the above payable in London.
Italian, 5 per Cent., 1861, Ex. 25f. 691
O 'CLOCK.
Consols, Money TWO
92
Ditto Account 1 i92}i