The Sun.
London, England, 1863-01-19 00:00:00

XONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.

The demand for discount accommodation to day
has been steadily maintained, and 28 per cent. is
the minimum quotation in the open market for the
best descriptions of three months bills.
The Europa from America has brought £36,000
hspecie.

The accounts from the manufacturing districts
for the past week state that business generally has
Shown symptoms of improvement. At Manchester
both cloths and yarns have advanced, owing to an
increased inquiry for the India and China markets.
The woollen trade of Leeds, Bradford, and Hudders-
field has been more animated ; the chief dealings,
however, have been in light goods for spring and
Bummer requirements. The hosiery and lace
trades
at Leicester and Nottingham have remained
Without any material variation, while in the hard-
Ware districts, viz , of Birmingham, Sheffield, and
Wolverhampton there has been rather more activity
in most branches of business.

A telegram received by the Peninsular and Orien-
tal Company states that the whole of the mails and
the entire cargo have been recovered by Heinke's
diving apparatus from the wreck of the Colombo.

Two o'CLocx.
The ordinary half-yearly meeting of the share-
holders of the Bank of London was held to-day,
Sir Sohn V. Shelley, Bart., presiding. The follow-
jug report was submitted to the shareholders :

The directors have the pleasure of submitting to the
shareholders the annexed statement of accounts, which
show that the balance of profit upon the operations of the
Past half-year amounts to £12.798 16s. 6d. From this sum
have been defrayed the current expenses of the establish-
Meat, and full provision made for all bad or doubtful
debts .
, allowing also for rebate of interest on bills dis-
counted not yet due, there remains for disposal the sum of
£27)069 7s. 3d. The directors appropriate £1,617 ss. sd. to
the liquidation of the balance of preliminary expenses, and
they apply the usual amount of £2uo in reduction of the cost
of the lease and buildings at the Charing-cross branch.
'rhey declare a dividend at the rate of £lO per cent, per
"cum, free of income tax, and transfer £lO,OOO to the reserve
mod, which, by such addition, is increased to £82,000. The
balance, viz., £252 10. 10d., is carried to the credit of profit
and loss account of the current half-year.

The Chairman, in moving that the report
and accounts be received, congratulated the
shareholders upon the very satisfactory status of
the bank and its operations during the past half
Year. Ali the items in the account showed a vi-
gorous improvement, particularly with respect to
the deposits, which had increased more than
£1,250,000 during the past year. The value of
Money had been extremely low, which, added
to the commercial distress that had prevailed, had
been most prejudicial to banking operations ; but,
notwithstanding these material drawbacks, the
directors were enabled to show a larger profit than
was ever made since the establishment of
their institution, these facts should con•
vince the shareholders that the system adopted by
the directors must be continuously successful.
Another satisfactory feaiure in the report was the
large addition made:to the reserve fund, which now
amounted to £82,000. On the previous occasion he
ventured to predict that the directors would at
the Present meeting be able to declare an increased
dividend of 10 per cent.; that prediction was now
verified, and from the present state and influence of
their bank, he would again say that they possessed
Every guarantee for future and increased success.
The report and accounts were then unanimously
adopted, and after a vote of thanks to the direc-
tors and managers, the meeting broke up.
There was also a meeting to-day of the 'Metropo-
litan and Provincial Bank proprietors, when the
directors' report was adopted. The balance •sheet
for the half-year ending 31st December last, showed
a net profit of £13,409 lls., including the amount
brought forward from the 30th June, and after de-
ducting the interest on deposit and current accounts.
Of this, the sum of £6,000 is the premium on the
issue of 3,000 additional shares; and the directors
have set aside that amount as a reserved fund.
The directors recommended that a dividend for the
half-year be declared, at the rate of 5 per cent. per
annum, free of income tax, and that the same be
Payable on and after the 26th inst. Lord Fermoy,
'NU', presided, and in moving the reception of
the report and accounts, observed that the bank
continued to make great progress. The statement
Of accounts showed that there was upwards of half
a million of deposits, while there:was an absence of
anything like bad debts. The directors did not
Possess a single current bill that occasioned them
the least anxiety ; they had a reserve fund, amount-
ing to £6,000, had written off £l,OOO from the pre-
liminary expenses, and transferred to the new ac-
Count of profit and loss the sum of £853. The re-
port was,
Ik long after a discussion, unanimously adopted.
discussion, however, ensued upon a motion
for the re-election of directors, and, after an hour's
tlebAte, Messrs. Geary, Kirkby, and Margetson
were unanimously elected.
Very little business has taken place in the Eng-
lish Stcck Market to-day, but the tendency has
Continued unfavourable. Consols were 921 4 for
transfer, and 924 for account, being a little lower
flan on Saturday. The New 3 per Cents. and the
Reduced have declined to 921 4 • Exchequer Bills,
1...0 4s. and Bs. premium ' • Bankk 'Stock is 236, and
-India 5 per Cent. Loan is 1081 t•
be transactions in the Foreign Market have
l‘e en rather circumscribed. Greek Bonds have
been depressed, dealings having taken place at
152. ; Dalian Railway Loan has receded to 4
721 ;
Spanish Passive to 244 ; ditto, Certificates,9
to
j Peruvian New Loan to 88 ; Portuguese ditto
to 464 ; Ruz-sian ditto is steady at 954 96; Vene-
211elan 614 ; Turkish 6 per Cents., 1854, are 85 86 ;
ditto 1858, 704 71; ditto, 1862, 66,1 i; and the
~•onsolides, 404 I.
The dealings in the Railway Share Market con-
tinued very inactive, and prices generally were a
shade flatter. Great Easterns, Great Westerns,
Lancashire and Yorkshire, and South Easterns
each declined ss. ; while North British and North
Eastern (Berwick) improved ss.
In the Foreign and Colonial undertakings there
was very little animation. Bahia and San Fran-
cisco declined to 214 4; San Paulo Scrip to 94 ; and
South Austrian and Lombardo Venetian rernainedt,
steady at 23a; Scindes declined'to 1054 106 ; Eas
India advanced to 1074 ; and G-reat Indian Penin-
sula to 1064.
Joint Stock Bank and Miscellaneous Shares
were in fair request, without material changes in
values. London and Westminster improved to 82 ;
Chartered of British Columbia to 94 ; London
Joint Stock brought 344 1; Union of Australia,
51; and Union of Landon, 329 4 ; Crystal Palace
Stock declined to 324 33 ; Peninsular and Oriental
Steam advanced to 744; and London General
Omnibus Company realised 14 fr.
The British and American Exchange Bank
are 54 6 prem.

BRITISH FUNDS—ONE O'CLOCK.
tank Stock ..... .
3 per Cent. Reduced Annuities ........3 923/4 a
~,,per Cent. Consols Annuities
-"tv, 3 per Cent. Annuities
India Stock
Ditto 5 per Cent .....
bate Enfaced Paper, 4 per Cent 951
Ditto Debentures, 4 per Ct., Oct,, 1863
Ditto ditto April, 1864 1001
Consols for Account, Feb. 5............ 92a t
India Stock for Account, 5 per Cent.... 1081
Exchequer Bills, £lOOO, 21 per Cent.... 4 8
Ditto £5OO ............ 4 8

FOREIGN FUNDS—ONE O'CLOCK.
Greek 5 per Cent., 1824-5, ex-Coup ins.. 16 15a
itPitall 5 per Cent. (Nlareinmana Railway) 721 i
Mexican 3 per Cent -
~.„ ( i;ltii ttt,ttt,ooo,lll4
c,.Account
opien:i. 32i
: Lent.
1862
58
I)°ltualleße 3 per Cent., 1853
Russian 5 1862..
s2en
x.O:
iiii;:ilcooohnp4s3:ppsppeseeer;ry
cecceeennnttt. Cent.,.
11886520 1822, £St 46t
99 ,1-
91i
96 5a
51
iP..an, i.sh Cert. of Coup not funded
17:0 11 6
Ditto 6 per Cent. 1854
.uittAceelmt
per Cent. 1858 . Bsi
t
~i)el)1
Illiiettttti A-6A cie:r 10
luut Cent.
v zuela,
3 per Cent
liitto Necount
-Ditto 6 per Cent 186',
. . 61
.
_Duo,
,E,2.li.vidends on the above payable in London.
4 ', Per Cent., Ex. 12 Gail
II 66
Consols,Dittooo°lll44eYt •••••• TWO O'CLOCK.
921 i
ttttt so 921