The Sun.
London, England, 1865-12-02 00:00:00

IAONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

More quietude has prevailed in the discount, and
business has been negotiated on rather easier terms.
There is, however, no quotable change, 6 per cent.
being the general rate for three months' bills. 'lhe
market is in a satisfactory position owing to the
return of notes and coin from various parts of the
country, but, as trade is so vigorous, there is not
any probability of an important relaxation.
Gold, amounting to £15,000, was taken from the
Bank yesterday. A decline of id. had taken place
in the price of Mexican dollars. Those brought by
the West India steamer have been sold at 591 d.
per ounce.

Proposals have been issued for the completion
and consolidation of the entire capital of the Atlan-
tic and Great Western Railway—an enterprise
which has attracted constantly increasing attention
during the past three or four years from its great
extent, the difficult circumstances under which it
has been completed, and the peculiarities of the
region through which it lass3s. The entire length
of the line is 607 miles (of which 100 have yet
to be opened), and it commands not only the
important traffic of the West, but also that of
the oil districts, the discovery of which occurred
Shortly after the commencement of the under-
taking. The total capital will be £12,000,000,
half in shares and half in 7 per cent. bonds, of
which the whole have been issued, with the excep-
tion of £2,771,600 now offered (with a half-year's
dividend payable on the 15th of January), at the
price of 80, instalments extending to the middle
of February. The net cost, therefore, will be
781. It is stated that to meet the interest on
all the bonds and likewise all working expenses a
gross annual receipt of $6,442,000 will be required,
and that the present income is at the rate of
$8,194,761, which is estimated on the opening of
the whole line to be raised to $10,000,000. The
bonds are for 25 years, with quarterly coupons pay-
able, free of income-tax, in London or New York,
hi gold. A feature of the railway is that it has a
uniform 6-feet gauge throughout, and therefore for
the first time in Western travel removes the neces-
sity for changes of carriage and constant haulage
of goods. At the same time it is satisfactory to
understand that the proceeds of the present issue
are required not for the completion of the line, but
to Pay off loans long since contracted on this side
for that purpose.
A prospectus has been issued of the London Steam
l'crwing Company, with a capital of £200,000
(2140,000 to be first subscribed), in shares of £2O,
to purchase the fleet of 16 powerful tug-boats, be-
longing to Mr. William Watkins, and which have
been valued by Messrs. Alfred Brett and Co.
It has been officially notified by the Opera Com-
Pany, that the list of applications will close this day
(Saturday).
The movements of the precious metals during
the past week have been on a moderate scale. The
imports have amounted to £477,281, chiefly from
the West Indies and Pacific, while the exports have
been to the extent of £494,816, chiefly in silver, to
'manbay.
It appears that the report of the Bank of British
°rth America, to be submitted on the sth inst.,,
States that the business of the bank during the year
lI
w ending has been favourable, and recommends a
uvidend of 30s. for the past six months, or at the
rate., of 6 per cent. per annum.
I, The half-yearly report of the Scinde, Punjab, and
Bank Corporation states that the late losses
Sustained from bad debts, owing to the direct con-
aavention of orders by their local agents, will
; mount to about £2 per share in addition to the
le of the reserve fund. Arrangements are in
toni_rse .of
negotiation for a satisfactory amalgama-
k-la with another bank.
0.-Uhe directors of the St. John d'el Rey Mining
' 111PanY have received per Rhone the following
i„rl)urt, dated Morro Velho, 28th October, 1865 :
Oioduce 2cl .
f division of October, ten days, 14,319
aV44 7 yield, 8,985 Oitavas per ton.

Two O'CLOCK.
4eccrding to Reuter's telegram the 3 per Cent.
French Reutes were quoted at 68f. 72c.
All the Stock Exchange Markets have closed
at All
and Consols are if per cent. higher, being