The Sun.
London, England, 1865-05-04 00:00:00

ONEY

AN r,
CUIIIIERCIAL INTELLIGEITCE,

ADVANCE I TWELVE O'CLOCK.
N THE BANK OF ENGLAND RATE
OF DISCOUNT.
The Bank of England rate of discount has just
been advanced to 41 per cent. The necessity for
measure now adopted has been very apparent
during the past- few days, and the directors have
again shown their commercial prudence and fore-
sight by not trammelling trade more than is really
D•acessary. An advance of per cent. may have
all the effect that is required, and should its influ-
ence be found insufficient, then an increase of
another per cent. would inevitably follow.
The discount houses have made a proportionate
alteration in their allowance on deposit accounts ;
3i Per cent. is to be given for money at call, 34 for
seven days, and 4 per cent. for fourteen days' notice
of withdrawal.
The only bullion operation of importance at the
Bank yesterday was an influx of 20,000 sovereigns
from Portugal.
The
£B,OOO. Mediator, from Melbourne, has brought
The report of " Hewitt and Co. (Limited)" for
the past half-year recommends a dividend at the
rate of 10 per cent. per annum, which will absorb
£2,634, and leave £1,985 to be carried forward.
This company was formed last August to take over
the fishing fleet of Messrs. Hewitt.
A meeting of the creditors of the influential and
well-known firm of Messrs. James Marshall and
8"s, of Stockport, has been summoned at the
Clarence Hotel, Manchester, for Friday, the sth inst.
According to some reports a proposition is contem-
plated for a composition of 15s. in the pound, in
instalments of 6, 12, 18, and 24 months, the last to
be guaranteed. The liabilities are said to range
between £BOO,OOO and £1,000,000.
The biddings for bills on India, which were
Offered to the usual extent of £300,000, took place
Yesterday at the Bank of England, but only £44,500
Was taken, the proportions allotted being to Calcutta
£32,500, and to Madras £12,000. The minimum
Price was as before-on Calcutta and Madras,
1s• 11d. ; on Bombay, ls. Hid. Tenders on
Calcutta and Madras at the minimum will receive
in full. On Bombay all the tenders were below
the minimum. This result, which shows a further
rapid diminution in the demand for means for
remittance to the East, is understood to have been
anticipated, but it appears that, the India Council
not requiring at present any additional funds, it was
deemed unnecessary to lower the terms.
At the half-yearly meeting to-day of the share-
holders of the Asiatic Banking Corporation the
report stated that the half-year for which the
accounts are now rendered, and during which period
at Portion only of the existing branches of the
bank have been working, represents not only the
least favourable season of the year in India, but has
al5O been characterised by a severe monetary crisis
in this country, which has necessitated the exercise
of the utmost caution in conducting the busi-
11,e88 of the bank, and a consequent re-
striction of its operations. Notwithstanding
ducting
drawbacks, the net profits, after de-
01,,leting all charges upon the current_ business
doubt the
bank, and fully providing for all bad and
s,,llbtful debts, amount to £70,439 4s. Bd. This
io"wiln the directors propose to distribute in the fol-
rat:lg manner, Viz. :--X,37,500 by a dividend at the
;Of 15 per cent. per annum ; £12,500 by a bonus
being-st per share, equal to 5 per cent. per annum,
ta.dgether equal to 20 per cent. per annum on
the pProl up capital on 31st December, to be paid to
in prietors free of income-tax ; £8,484115. 11d.
lilluclation of the whole
penses _ of the preliminary ex-
Which, •0,500 to be added to the reserve fund,
issue ofwith the Premiums arising from the recent
next new shares, will then amount to June 30
9d
they
f• 175,000; and the balance, say £6,454 12s.
and loss propose to carry to the credit of the profit
tors
ha account for the current year. The direc-
ahareh e further the pleasure to congratulate the
0 ders
shares, upon the successful issue of the new
both here and in India, which were all
13r°111ptly tak
eircuia •en uP upon the terms specified in the
Nieto; •
addressed at the time to the original pro-
by
an; •el the additional capital, though not required
able to xlgencies of the bank, was deemed desk-
place it upon a footing suitable to its increas-
g business.
A gener
1,0,0 al meeting of the shareholders of the
11 and African South •
man Bank took place to-day.
deer,„ " submitted for adoption stated that after
g all charges for the past year, and pro-
d g 'or bad and doubtful debts, there remains a
18Posable b
suns £2 50 .
a ance of £26,984 Bs. 4d. From this
fund,
_' 0 will have to be placed to the reserve
wbieb •
and xi,608 will then amount to £18,053 6s. 3d.,
68•toexpenses. At the
end of the •preliminary
Ravin°,
r_ next year this latter account will be closed.
the south'gard to the depressed state of trade in
in Octeb Airican colonies, it was deemed prudent
Per center last to declare an interim dividend of 3i
received •E. Only, but the satisfactory returns since
torst r from the several branches enable the direc-
hold,, ee°temend for the approval of the share-
dividend
-rs a
the pa of 18s. per share, which, with
rate 01 nent made in October, 1864, will be at the
leaving 8 Per cent• per annum, free of income-tax,
wa balance of .1377 9s. 4d. to be carried for-
-4171 to the profit and loss account for the next
The to this day
are Nveok's railway receipts ascertained up
in round figures as under :-
Great w •
1865. 1864
Iforth western ••• £71,380 £66,277
trightc • stern
111,692 103,950
•••
... 22,649 17,899
r •..
.. 45,895 46,761
th asteni ••• ••• ••• •
22 384 20,441
at Istorth ••• •• • •• • •
treat
ern ...
••. 3i,004 33,035
1340,0, ire and Yorkshiro
... 38,546 87,513
and Exeter
•••
7,151 6,627
'l4 astern
60 537 58,821
Manchester Sh M ..•
7
(heat Eute'rn. e eld, and Lincolnshire 18,231 17,222
These returns* ***
***
33,444 32,827
, •
when
eorreornpared with those of the
813°11ding Period of last year, show an
increase of £l,o33the L
Shire ; £7,742 on then North Western Lancashire and York-
the Manchester Sheffield, and estern
; £1,009 on
the North. British Lincolntheist ; £2,184 on
; £.1,716 on
£617 on the Great Eas orth Eastern ;
Brighton tern ; £4,750 on the
; £1,943 on the South E the Bristol and Exeter as ern ; £524 on
Northern • ; £3,969 on the Great
ern £5,103 on the Great West
th •
ere is a ern but
decrease of £866 on th 11/ •
e hdland.

Two O'CLOCK.
X4ll Paris to-day, according to Mr. Reuter's tele-
arn, the French 3 per Cent Renter were 67f. 35c.
ea,ry.
and English Stock Market has been very inactive
tTh hea,vy to-day. The increase in the Bank rate
occasioned sales of stock, and Consols have re-
eecled to 9oz
--a 1 for money and the 9th inst., and to
duckv(4 i for the account. The New Threes and Re-
e Annuities are 881 i ; and India 5 per
ellts.) 106-1 107.
For •
te, , eign Securities opened flat, but have since
rz -e'ed l business, however, is not very active.
donrkish Consolides are 51/ 521 ; Mexican, 261 ;
3011\r:w' 251 1 ; Greek, 201 21; Spanish Passive,
Confederate 4 "4 1 do. Certificates, 1611; Italian, 641 i ; and
Loan, 11 13.
dtiull4lleas in the Railway Share Market has been
Fibo and as
one or two exceptions prices have
wiekw\ll tr.4llher depression. North Eastern (Ber-
Isi:: 'lave declined £,l ; Great Western and South
an each, 10s. ; and Lancashire and Yorkshire,
Stoet°,lth Western, each ss. Great Northern A
,411, newever, have improved ss.
about Foreign and Colonial lines remain dull, at
danke'v quotations.
tered and Miscellaneous Shares are quiet.
.Char-
tod 2R :If India, Australia and China have decline
Itn,'; South Eastern to 12fr 71- ; City of Milan
Rha-rtnvenient to 81 ; Moore, M'Queen, and Co.
1 ills are quoted 2 21 prem. ; Ottoman Company,
koiLlirein• ; Lion Brewery, 1 11 prem. ; Ply-
aladlAtn. Shipbuilding Company, 1 1 prem. ; London
Creni, lecliterranean Bank, 1 11 prem. ; Colonial and
Nvital Lam Credit, 2 prem. ; Anglo-Egyptian
ati°ll' 31 3i prem. ; South African Land and