The Sun.
London, England, 1865-03-29 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.

The discount market presents a very quiet appear-
ance, the demand for accommodation being very
limited, owing to the expectation of a reduction in
the official minimum to-morrow. The supplies of
capital on offer, however, being rather small, the
brokers are holding out for 41 k per cent. for even
best short dated bills.

There was no material alteration in the foreign
exchanges yesterday afternoon.
The lists of applications for shares in the South
of England Wagon Company (Limited) will be
closed on Saturday, the Ist of April, for London,
and Monday, the 3d of April, for the country.
The London and South African Steam Ship Com-
pany has been announced with a capital of £160,000
in shares of ,£25 each. The object is to supply a
want long existing among merchants trading with
the Cape of Good Hope for direct and regular steam
communication from London. The steamers are to
call either at Falmouth or Plymouth for the em-
barkation and delivery of mails and passengers.
Two-thirds of the capital have already been sub-
scribed and the share list will consequently remain
open for a short period only.
The Millwall Freehold Land and Docks Company
has been brought forward with a capital of £510,000
in shares of £2O each by the Credit Fencier and
Mobilier of England and the Imperial Mercantile
Credit Association. The promoters have acquired
by special Act of Parliament a tract of land at Mill-
wall, containing 198 acres of freehold, adjoining the
East and -West India Docks, and it is proposed to
build upon this site a shipbuilding yard, with
docks and graving docks, basins, &c., capable of
accommodating the largest ships afloat, and also to
build on the land not required for these purposes
manufactories, warehouses, &c. From the circum-
stance of the area prOposed to be occupied lying, on
an average, about 10 feet below high-water mark,
the works will be executed with unusual facility ;
the material excavated being used to raise the ad-
joining land to a convenient level above high water.
The main roads which traverse the site of the pro-
posed works afford good access to them ; and appli-
cation is being made to Parliament in the present
Session by the Blackwall Railway Company for an
extension of the Blackwall and North London Rail-
way systems, by which direct railway communication
will be afforded for the whole of the company's works,
wharves, and docks, with the entire railway
system of England. As a land company the pro-
spectus states that the present undertaking
has enormous advantages, from the unusually
ample powers granted by its special Act of Parlia-
ment, by means of which it will become possessed,
after appropriating about 56 acres for the docks
and graving docks, of upwards of 140 acres, with a
water frontage of more than 10,000 feet, and from
400 to 800 feet in depth—the whole of which, on
completion of the docks, will become immediately
available for letting, on building leases at freehold
ground rents. Besides this source of revenue, esti-
mated to produce upwards of £50,000 per annum,
the company will also derive a further large income,
of about £40,000 per annum, the rents of the
graving docks, and from dues and charges from the
docks, basins, wharves, &c., making a total esti-
mated revenue of £90,000 per annum. Interest at
the rate of 6 per cent. is to be allowed for share
capital paid up by instalments, and at the rate of 7
per cent. on the capital fully subsbribed during con-
struction. The shares are already quoted 2
prem. _ _ _

Tho first ordinary meeting of shareholders was
also held to-day of the Home and Colonial Assur-
ance Company. The report presented stated that
the accounts showed that the revenue of the marine
department derivable from premiums and interest,
amounted to £148,712 15s. 3d., which sum, after
deduction of all losses to date, left a net balance of
£101,344 4s. 10d. applicable to the extinction of
risks outstanding on Dec. 31, 1864. Simulta-
neously with the formation of the company, nego-
tiations were commenced and successfully com-
pleted with the Eastern Marine Insurance Company
for the purchase of their business and good-will.
This purchase included incorporation from Jan. 1,
1864—the sum paid being £35,400. Of this
amount the directors have been enabled to write off
£21,318 17s. 5d., leaving a balance of £14,081
2s. 7d.

Two o'CLocr.

At Paris, this day, according to Mr. Reuter's
telegram, the French 3 per Cent. Rental were 67f.
50c. Firmer.
The English Stock Market has been well sup-
ported to-day at previous values. The business
transacted, however, is very small, and were it not
for the daily purchases of the Government broker
quotations would undoubtedly tend downward.
The purchase to-day for the sinking fund comprised
£30,000 of New Three per Cents. Consols remain
at 89* for money, and at 891 for the account