The Sun.
London, England, 1862-06-10 00:00:00

LONDON AND BLACKWALL RAILWAY

SPECIAL MEETING-THIS DAY.

A special meeting of the proprietors of this company was
held this day at the London Tavern, for the purpose of
considering and determining upon the exercise of the powers
conferred by the London and Blackwall Railway Act, 1862,
with reference to the raising of capital, and the cancelling
shares created under the powers of the London and Black
wall Railway Act, 1860, and the creation of new shares in
lieu thereof ; and to consider and determine upon the pre-
ferential, fixed, fluctuating, contingent, perpetual, or ter-
minable dividend, and such other privileges or restrictions
as the company may think fit to be attached to such new
shares, and also to any preference shares into which any
ordinary shares created under the Act of 1860 may be con-
verted.

At a meeting of the proprietors, in August, 1850, it was
resolved to create 46,154 shares of £6 10s. each, for the pur-
pose of raising the £300,000 capital, authorised by "The
London and Blackwall Railway Act,- 1860." Of those
shares, 24,735, representing £160,777 10s., were taken up
by the proprietors, and 21,419 shares, representing
£139,223. 108., remain unissued. It was r)posed at the
present meeting to cancel the 21,419 shart n,t issued, and
to create in lieu thereof the same number of shares of £6
10s. each, and to attach' to such shares a preferential per-
petual dividend at the rate of £4 108. per cent. per annum
on the amount for the time being paid up.
The CHAIRMAN briefly moved resolutions carrying out
the recommendation, of the directors, at the same time ex-
pressing an opinion that the new shares would be readily
taken up,
The resolutions were agreed to unanimously.

[The mode in which the tickets have been issued by this
company have long been a source of inconvenience and
complaint, and it was expected that notice of the circum-
stance would have been taken of the system by some of the
assembled shareholders, as yesterday the temporary ar-
rangement which was made for the accommodation of the
holiday folk was considered to be an improvement on the plan.
By the mode, which has for years been in operation, all pas-
sengers, first and second (which includes third class) male
and female, have to pass through a narrow barrier placed in
front of the centre of three windows, to the imminent risk
of their dresses and pockets, to procure their tickets. The
directors most certainly ought to have had some conside-
ration for ladies who are willing to pay first-class fares,
and not compel them to pass pell-mell through the narrow
way between a number of gigantic navvies on the way to
work on the main drainage operations, especially as their
language is not always fit for ears polite, or the perfume of
their garments redolent of lavender. Yesterday the two
side ticket windows were opened in place of the middle one,
and the obtaining of the requisite bits of pasteboard was a
matter easy of accomplishment. If the new arrangement
is to be made permanent, all that will be required is to fix
one of the windows for the issue of first, and the other for
second-class tickets, and to erect a slight partition
between the two, so that each class will have that which
they pay for, viz., good and sufficient accommodation.]--
En. Sux.

MONEY MARKET.

CITY NEWS, YESTERDAY.

A check was given to the stock markets this
morning by the success gained by the Confederates
over the Federals, which appears to discourage the
idea of an early termination of the war. The stag
nation of business is further increased by an expecta-
tion that money will become somewhat dearer,
although no indication of an anxious character is
presented. Meanwhile there is a steady demand for
all good investments. Indian railway securities,
amongst others, were in increased request to-day.
The English funds were flat, owing to the full
supply of stock shown at the settlement now in
progress, and any tendency to recovery was pre
vented in the afternoon by a withdrawal of gold
from the Bank. English railway stocks were
strengthened during the latter part of the day by
the anticipation of better receipts from the now
rising Exhibition traffic. American securities have
given way, in consequence of the news from New
York. Italian Five per Cents. and Lombardo-Vene-
tian Railway shares were very buoyant.
The demand for money, both at the Bank of
England and elsewhere, was only moderate, but
owing to the prevailing idea that the exportation of
bullion on account of foreign loans will ere long
cause a further slight advance in the rate of dis-
count, holders of money evince a disposition to
charge protective rates. Good bills having more
than a month to run can scarcely be placed at 3
per cent., while for three months paper the charge
is above the Bank minimum. A similar indisposi-

tion to enter into long engagements, unless at a

proportionate advance in terms, is shown in the
Stock Exchange, where only 11 per cent. is required
for loans on Government securities from day to day,
while for a month 21, or 21 is asked.
At Paris to-day the Three per Cent.Rentes opened
at 68.95 ex div., and closed at 69 for money, and
£9.05 for the account, showing a rise of -41, to a per
cent. since Saturday afternoon.

The fortnightly settlement in shares and foreign
stocks will commence on Wednesday (" continua-

_
Lion" day) and terminate on Friday.
A telegram from Revel, dated June 8, mentions
the stranding on Neckmann's Ground of the steamer
Trent, Captain Brown, bound from Hull to Cron
stadt with goods. One compartment and the en-
gine room were filled with water. The crew and
passengers were saved.

The American news has caused a fresh rise of id.
to id. per lb. in the price of cotton at Liverpool to-
day. The transactions were considerable, reaching
10,000 bales.

The rise in the American exchange and in the
premium on gold at New York is partly occa-
sioned by the demand for remittance against
realisat:on of securities by English holders.
The holders of Moorish bonds will be glad to
learn that the funds required for the interest and
sinking fund due August Ist are furnished without
the necessity of having recourse, in any way, to the
customs revenues specially hypothecated to the
loan. It has before been pointed out that Morocco
occupies an exceptional position amongst foreign
States, inasmuch as she has no debt and no stand-
ing army. The bonds have been dealt in to-day
as high as 921, being equal to 72 pram on the issue-
price, and are now so completely absorbed by in-
-vestors that it is difficult to effect a purehase even
of small amount.

100,000 sovereigns were taken from the Bank to-
day for transmission to Constantinople, and a fur-
ther total of 200,000 is expected to be withdrawn
to-morrow.

£200,000 in Russian imperials, part of the
£600,000 recently bought by Messrs. Rothschild
for transmission to St. Petersburg, was taken from
the Bank to-day, but was paid for by a like amount
in bar gold.

The limited amount of bar silver brought by the
Mexican packet has been sold at 61i d. per oz., being
an advance of ad. as compar©d with tile last arrival,
but a decline of id. from the rate lately realised.
The dollars,which constitute the bulk of the arrival,
are not yet disposed of.
The next instalment of 15 per cent. on the Egyp.
tian loan of -.22,195,200 becomes due to-morrow.
This will make 45 per cent. paid out of the contract
price of 84. Subscribers will at the same time
continue to have the option of paying up in full and
being a'dowed 7 per cent. discount.
CITY NEWS---THIS DAN

CITY, TWELVE O'CLOCK.
Business in the Foreign and Colonial Produce
Markets has continued very inactive owing the
absence t
absence of many of the principal dealers during thee
Whitsuntide holidays. In the private market there
has been a fair inquiry for tea, at full rates.
Sugars have continued dull, and coffee, rice, and
spices are nominally at previous quotations. Salt-
petre has declined 2s. to 2s. 6d. per cwt. ; but
tallow has continued rather active, at 465. 6d. per
cwt. on the spot, and 48s. 9d. to 495. for last three
months' delivery.

Two O'CLocit.
The annual meeting of the Bank of British North
America took place to-day. Mr. Rubert Carter in
the chair. The report stated that the profits for
the year amounted to £6l
which amount ,212 4s ld. Out of
the directors have declared a half-
y
nextearly
at dividend, payable on and after the sth July
, the rate of 6 per cent, per annum, free of
income-tax ; leaving the sum
of
£1,212 4s ld to be
added to the rest or balance of undivided profit,
which, including this addition, amounted, on 31st
December, 1861, to £126,978 7s ld, atter providing
for the dividend that was paid in January last.
The Chairman, who moved the adoption of the re-
t remarked that he was to to hear great