The Sun.
London, England, 1865-07-26 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

The Money Market continues to present the same
appearance of stringency as it has during the last
few days. The brokers ask 3f per cent. for the
best bills, and, as a consequence, the Bank is still
negotiating the principal discount business brought
forward.

The directors of the Land Securities Company
have issued their report, showing a profit of £2614,
which they recommend to be carried forward.
The Metropolitan Sewage Company have, it is
understood, made their first contract with a farmer
in the neighbourhood of Barking.
The commercial public will learn with satisfaction
that Mr. Thornton, the English Minister at Buenos
Ayres, is to proceed to Rio to re-open diplomatic
relations with the Brazilian Empire• .

The Merchant Shipping Company have issued
their first report, which states that the net profits
are £33,080 from the completed voyages of 12
ships, and from the business of the dockyard during
that period. The directors recommend the pay-
ment of a dividend of 10s. per share, free of
income tax, in addition to the interim dividend of
38. per share already paid, being together at the
rate of more than 10 per cent. per annum on the
paid-up capital of the company. These will absorb
£6,144 2s. Bd. ; to the opening of a reserve and
depreciation account, £20,000 ; leaving to be car-
ried to profit and loss new account, £6,936 12s. 6d.
The Marseilles Extension Railway and Land
Company requires a capital of £400,000, in 20,000
shares of, £2O each, 7,000 of which are stated to
have been already subscribed, and 3,000 are re-
served for issue as paid-up shares. The objects of
the company are, first, to construct a railway about
nine miles in length from the " Old Port" of Mar-
seilles to Podestat, to afford increased facilities
for the commerce and manufactures of the town
and port ; secondly, to acquire land on both
sides of the line throughout its length, for
building and other purposes, to which great value
Will be given by the construction of a railway. The
reputation of Marseilles as the first city of France
is well known, second only to Paris in population
and wealth ; its position and capabilities give it the
command of French commerce in the Mediter-
ranean. The pecuniary results expected are exceed-
ingly favourable. A large income will, no doubt,
be derived from the railway, besides which good
Profits will be realised by the sale of the land. The
railway to the Old Port will no doubt secure a
very large amount of goods traffic, as the line will
pass through populated districts containingfactories,
ke. The shares have been dealt in at the Stock
Exchange at 1/ to 2.
The General Credit Company have notified with
regard to the approaching conversion and unifica-
tion of the Internal Turkish debt, that the prevalence
of cholera and the consequent quarantine regula-
tions having delayed the arrival of the official verifi-
cations from Constantinople, the arrangements for
the purpose will be deferred from the Ist to the
15th of August.

The eighteenth half-yearly meeting of share-
holders of the National Discount Company was held
to-day. The report, which was adopted, stated
that the accounts ending June last show evidence of
the steady progress of the business of the company.
The gross profits for the last half-year amount to
£112,745 14s. 9d., and after deducting the current
expenses, directors' and auditors' remuneration,
Writing off in their -entirety all bad and doubtful
debts, and reserving for rebate of interest on bills
not yet due '£36,571 Is. id., there remains the
811131 of £65,339, Id., which, with the addi-
tion of the balance brought forward from
the 31st December last, will then amount to
£70,092 Os. sd. These satisfactory results will
enable the directors, after appropriating £60,000
to the payment of a dividend at the rate of twenty
per cent. per annum, free of income tax, to carry
forward to the next half-year's profit and loss ac-
count the sum of £10,092 Os. sd. The dividend
will be payable on and after the Ist of August.

Two O'CLOCK.

At the Paris Bourse this morning, according to
Reuter's telegram, the 3 per Cent. Rentes, were
67f. 60c.

The English Stock Market has shown but little
animation, and prices continue to exhibit a down-
ward tendency. The attendance of late has shown
a marked diminution, the public having now taken
their usual holiday vacation. Consols are 898 90
for money, and for the account 898 90 1-16. The
New Three per Cents. and the Reduced Annuities
are 891 11. ; New 2f per Cents., 71 ; and Exchequer
13i1-18, par to 4s. prem. Bank Stock is 246 248.
In the Foreign Stock Market prices have been
a trifle firmer. Turkish Consolides are 491
Mexican, 231 24 ; ditto New, 23 ; Greek,
24 24 ; Spanish Passives, 281 1 ; Certificates,
131. 1 ; Italian 64 4 ; Confederate Loan, 7 9 ;
American Securities are rather heavy ; United
States Five-Twenty Bonds, 691 701 ; Erie, 531 54;
and Illinois, 881 89.
Business in the Railway Share Market has con-
tinued moderately active, but owing to a purchase
of sales prices, which opened with rather more
firmness have since given way. Metropolitan have
declined ; Great Northern A Stock 15s. ; Lon-
don, Chatham, and Dover, and South Eastern, each
I°B. ; and North Eastern (Berwick), ss. ; while
Great Western have improved 15s.
The Foreign and Colonial lines remain without
change of importance.
Bank and Miscellaneous Shares generally are
inactive, but prices remain without material alte-
ration. London and Westminster have improved
to
914, and Chartered of India, London and China
° 47, and National Discount Company to 151.
Subjoined are the current quotations of some of
the
principal new undertakings :—Anglo Greek
Steam Navigation Company, 21 3 prem. ; General
Exchange Bank, 11 24- prem. ; Hodge's Distillery
Company, 3,31 prem. ; Metropolis Sewage, 7 8 ;
Brewery
Railway Company, 4 prem. ; Lion
Company, 1f 4 prem. Hop and Malt.