The Sun.
London, England, 1865-08-07 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

The Money Market continues quiet, the demand
being no ?I of a moderate character. The rates out
of doors are 3 4 per cent. -

Sixteen thousand sovereigns from Portugal were
taken into the Bank on Saturday.
The report of the London and Lisbon Corkwood
Company, to be presented on Thursday, states the
available toal at £3,219, and recommends a dividend
for the half year at the rate of 15 per cent. per
annum. The Company have acquired extensive
forests in Algeria, and samples have been received
therefrom.

The accounts from the various manufacturing
districts have generally been satisfactory during the
past week. At Manchester there has been a fair
demand for goods suitable to hbme requirements,
although only moderate transactions have been re-
corded for exportation. The woollen trade of
Leeds, Bradford, and Huddersfield has been season-
ably active, while the demand for lace and hosiery
at Leicester and Nottingham has been steady. At
Birmingham, Sheffield, and Wolverhampton there
has been a slight improvement in most departments.

At the annual meeting of the Royal Insurance
Company, the report on the life business was of an
exceedingly gratifying character, the sum assured on
new policies effected in 1864 amounting to the al-
most unprecedentedly large sum of £1,014,897, and
the premiums thereon to £32,708. Large as were
the operations of the past year, however, the results
disclosed in the able bonus report and elaborate
" appendix" of Mr. Percy M. Dove, the talented
actuary of the company and well-known mathema-
tician, eclipsed much of the interest that would
otherwise have attached to them. The Royal, in
completing its twentieth year, completes also an-
other quinquennial period, and it; liabilities
and assets have undergone a minute investigation,
and been valued on the safest and soundest princi-
Pies which experience has determined. After show-
ing in his report how rapidly the company's business
has extended in the five years just closed, Mr. Dove
states that the amount of surplus profit realised in
that period is no less than £168,985. Of this
amount he, for convenience, takes an even sum,
£165,000, and after appropriating one-third to the
Credit of the proprietors, the remaining sum, it ap-
Pears, "is sufficient, even though the interest of
money should only be 3 per cent., to provide a rever-
-B,i°nary bonus of £2 per cent. per annum to be added
to the original sum assured of every participating
policy effected prior to 1863." This, we need hardly
Say, is the largest continuous bonus ever declared by
any other office, and this fact of itself is the best
Proof that can possibly be given of the careful
Management which has all along characterised the
Progress of this gigantic insurance institution. The

appendix " to the actuary's report consists of 48
Pages, and gives the minutest particulars as to the
affairs of the company. It would save much disap-
Pointineut if this practice were followed by all asso-
ciations that transact life business. Those who do
not, however, are always open to suspicion that their
affairs are not satisfactory, and hence they run a
,gl'eat risk of being eclipsed by an office like the
Istoyal, whose great desire seems to be to keep
tile public fully informed upon all matters of
detail as well as of results in the aggregate.
Were this not so the Appendix would not have been
Published. For the first 15 years of the company's
existence the net premiums received, after deducting
12e-assurances and returns, amounted 10 £332,903,
ln the last five years £543,025, the difference being
£210,032, showing the amount of the last five years '
to be no less than 63 per cent. in advance of the
Previous 15 years. The expenses, including com-
saisaion and every other charge, are gradually
diminishing. In the first 10 years they were 14.8
Per cent., in the next five years 12.75 per cent., and
in the last quinquennial period 11.98 per cent. The
Claims have been remarkably favourable. In the
first 10 years they were 32.75 per cent., the follow-
ing five years 3F7, and for the last five years 33.39,
while for the whole period of 20 years they were
32.9 per cent. di the premiums received. The rapid
growth of the accumulated funds is another evi-
dence of the soundness of the company. At tho
close of the last five years they amounted to the
large Sum
of £571,046, being nearly 70 per cent.
above the total accumulations of the preceding 15
rears, and more than five times the sum accumu-
lated during the first 10 years of the company's
Progress. The total accumulated funds, including
all departments of the business, together with the
paid-up capital, now amount to £1,160,649. In
the fire department the Royal has advanced still
tore rapidly than in the life. The fire pre-
I/limns in 1864 were £406,403, being larger by
X 64,736 than those of the preceding year.
The losses, however, were heavy, as they have
been in all similar companies, and, as a con-
sequence, no profit was made on this head ; but,
of course, the results of fire insurance must never
be taken by single years. It is satisfactory to find
that although in eight years there have been two
exceptionally bad ones=the past, and the year
1861, when the large fire in Tooley-street occurred
--yet that over the whole period the Royal has
realised on the fire business a very handsome profit.
In one year alone, 1863, the profit was £83,000.
r
rilere is then no cause for complaint, but every
reason for congratulation, and it is to be hoped that
kr. Dove, to whose Herculean labours this corn-
Pliny is so greatly indebted, will long be spared to
guide and conduct its affairs, and that, with the
assistance of Mr. McLaren, the sub-manager, and
be Other officials, it will go on not only as pros-
perously as hitherto, but, as there is every indication
Its doing, still more prosperously.

Two O'CLOCK.
&t the Paris Bourse this morning, according to
Pouter'sa telegram, the 3 per Cent. ltentes were
05e. Firm and animated.

The English Stock Market has continued in a
'Cry inactive condition all day, but prices have
nevertheless shown much firmness. Consols are
111eted 89i 90 for money, and 90i for the account.
nlNew Threes and Reduced Annuities are 894 ;
4 per Cent. Certificates, 99i.
sVery little business has been concluded in the
I°reigri Market, and prices have been without the
L'ilghtest alteration. Turkish 6 per Cents., 1862,
ad.e 72i ; ditto Consolides, 494 50 ; Mexican, 23 i;
210 /slew, 22i 23k; Greek, 204 21; Spanish Passive,
481 ; ditto Certificates, 13f ; Italian, 63/
hd Confederate Loan, 7 8.
e The preference shares of the Atlantic Telegraph
oft",PanY excite general interest. In the early part
theytne day a decline took place to 2i dis., but
have since recovered to 2i dis.
__ln the Railway Share Market there has been
evherYan little animation, and prices have shown no
hav g° of impedance. North Eastern (Berwick)
e declined 10s. and Midland ss. ; while North

Western have improved 55., and Great Western ss.
The Foreign and Colonial lines show no change
of importance.

Bank and Miscellaneous shares are inactive.
but generally sustain previous quotations. Union of
London are dealt in at 523 s ; London and County
at 75f ; National Discount Company at 15/ ; and
Royal Mail Steam at 115 116.

The following are the current quotations of some
of the principal new undertakings :—Hop and
Malt Exchange, 3 31 pm. ; Marseilles Extension
Railway and Land Company • (Limited), 11 2
prem. ; Northern Assam Tea, par 1 prem. ; Chubwa
Tea, par 1 pm. ; Russian Iron Works, 9 11 pm. ;
London Bridge Land, 1 4 pm. ; Albert Bridge,
1 11 prem. ; Downs Docks, 11 11 prem. ; Massa
Carrara Marble, 2 21 prem. ; London Quays,
dis. ; British India Trust and Agency Corporation,
1 11 prem. ; Overend, Gurney, and Company
(Limited), 2 21 prem. ; International Sugar Re-
finery, I- 11 pm. ; Hodges' Distillery, 1 11 prem. ;
General Exchange Bank, 21- 21 prem. ; Anglo
Greek Steam Navigation Company, 11 21 prem.

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
3 per Cent. Consols
Do. Account, Aug. 8 B9i
o per Cent. Reduced B9IL
New 3 per Cent Bl
New 2i per Cent. Jan. 1894
Do. 5 per Cent. Jan. 1873
Annuities, 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth AprillBBs —
Do (Red Sea Telegraph), Aug., 1908 —
Exchequer Bills, £l,OOO, 3 & 3i per Cent —
Do. £5OO
Do. £lOO and £2OO —

Bank of England Stock, 51 per Cent 2471 50
Do Account ' —
INDIAN GOVERNMENT SECURITIES.
Indian Stock, 10 per Cent., AprillB74 220
Do- Account
Do. 5 per Cent. July, 1870
Do. Account
Do. 4 per Cent., Oct. 1888
Do. Certificates
Do. Enfaced Paper 4 per Cent —
Do. 5 per Cent., Jan. 1872
Do. 5i per Cent., May 1879 —
Do. 4 per Cent., Aug. 1866 —
Do. Bonds, £l,OOO —
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Austrian Bonds, 5 per Cent, 1859
•
Brazilian 5 per Cent —
Do. 41 per Cent., 1852-58-60
Do. 1863 —

Buenos Ayres 6 per Cent
Do 1 per Cent. (Deferred 3 per Cent.)
Chili= 6 per Cent

Do. 4i per Cent —
Colombian 6 per Cent. —
Cuba, 6 per Cent.
Danish 3 per Cont., 1825 —
Do. 4 per Cent., 1863 —
Do. 5 per Cent., 1773-77, £25 paid —
Danubian Principalities
Do. Account
Do .£B6 paid
Equador New Consolidated, 1 per Cent —
Do., Provisional Land Warrant
Egypt Egyptian 7 per Cent 9Bi 8
ian
Second Issue
Do £lOO Bonds —
Do. 1864 941
Do £lOO Bonds
Greek 5 per Cents., 1824-5, ex Coupons
Do Account
Do. Coupons .
Do. Account
Guatemala 5 per Cent. —

Do. 1839 and 1850
Italian 5 per Cent (Maremmano. Railway)

Do 1865
Do Scrip, .£67i paid — dis
Do 5 per Cent., 1864 —
Do. Scrip, £55 paid
31 oxican 3 per Cent.
Do. Account
Do 1864 22
Do 6 per Cent. Anglo-French —
Do French Scrip, Lx. 25f 20c —
Montevidean 6 per Cent., £3O paid —
Moorish Imperial 5 per Cent
New Granada
Do 2 per Cent —
Do Deferred
Do Land Warrants (Hectares)
Peruvian 41- per Cent.
Do Scrip, £45 paid, paid in Bonds — dis
Do 3 per Cent. (Uribarren) —
Do 4i per Cent., 1862
Do. Account
Portuguese 3 per Cent., 1853
Do Account —
Do 3 per Cent., 1856, '7, '9, '6O, '62, '3, —_
Do Account 47-i 1 i
Russian 5 per Cent., 1822, £ St.,
Do 4} per Cent., 1850
Do 1860
Do 3 per Cent., 1859
Do 5 per Cent., 1862
Do 1864
Sardinian 5 per Cent

Do. Account
Spanish 3 per Cent
Do New Deferred
-Do Passive
Do Account 2Bf
Spanish Cert. of Coup not funded

Do Account
Swedish 4 per Cent.
Do. 41 per Cent. 1864
Turkish 6 per Cent. 1854
Do Account 94f 1
Do 6 per Cent. 1858 —
Do Account 75
Do £lOO Bonds
Do. 11 per Cent -3
Do 6 per Cent. 1862
Do Account —
Do £lOO Bonds 731 4
Do 6 per Cent., 1863 —
Do 5 per Cent. 1865
Do Scrip, £35 paid
Do Guaranteed, 4 per Cent lOO4
Venezuela 3 per Cent. —
Do. Account —
Do. 6 per Cent, 1864

Do Account '
Dividends on the above payable in London.
Austrian, 5 per Cent., Ex. 10 Florins —
Belgian, 41 per cent., Ex. 25f.
Dutch 2j per Cent., Ex. 12 Guil —
Do. 4 per Cent. Certificates —
French ltentes, 4k per Cent.

Do Account
per Cent., 1861, Ex. 25f.
Do. Account
THREE O'CLOCK.
Consols
Do. Account
Do. Sept.