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

The Bank Returns,

The Banker's Magazine furnishes the returns of the cir-
culation of the private and joint-stock banks in England
and Wales for the four weeks ending the 4th of March.
These returns, combined with the circulation of the Scotch
and Irish banks for the same period, and the average cir-
culation of the Dink of England for the four weeks ending
the Ist of March (the nearest date furnished by their
returns), will give the following results of the circulation
of notes in the United Kingdom when compared with the
previous month :

Feb. 4, March 4,
1865. 180 1.
;Increase. Decrease.
Bank of England 20,407,763 19,951,941 515,82!
Private Banks 3,074,15 ; 2,954,480 119,67)
Joint-stock Banks 2,788,089 2,733,606 49,483
-......
Total in England. 26,33),011 25,645,027 634,681
Scotland 4,167,578 4,069,154 88,4,.2
Ireland 1 5,713,708 5,70:,539 11,119
--
United Kingdom. ! 36,2)1,295 35,416,773 784,525

And as compared with the month ending the sth of
March, 1864, the above returns show a decrease of
£380,402 in the circulation of notes in England, and a
decrease of £167,961 in the circulation of the United
Kingdom.

On comparing the above with the fixed issues of the
several banks the following is the state of the circulation:—
The English private, banks are below their
fixed issue
•.. .C 1,253,306
The English joint-stock banks aro below their
fixed issue

487,751

Total below fixed issue in England ... £1,746,057
Tho Scotch banks aro above their fixed issue... 1,319,883
The Irish banks arc below their fixed issue ... 651,905
The average stock of bullion held by the Bank of Eng-
land in both departments during the month ending the Ist
of March was £14,616,770, being an increase of £355,756
as compared with the previous month, and an increase of
£889,385 when compared with the same period last year.
The following aro the amounts of specie held by the
Scotch and Irish banks during the month ending the 4th
of March :

Gold and silver hold by tho Scotch banks ... £2,422,738
Gold and silver held by tho Irish banks ... 2,098,935

£4,521,673
Doing a increase of £1,064 as compared with the pre-
vious return, and an increase of £223,504 when compared
with the corresponding period last year.

RAILWAY INTELLIGENCE.

IMPERIAL MEXICAN.

A special general meeting of the shareholders in
this company was held on Friday at the London
Tavern ; Mr. R. W. Crawford, M.P., in the chair.
The report stated that soon after the formal con-
stitution of the company and the receipt of the de-
posit on the shares the Board took measures for the
establishment of the company in Mexico. Mr. T.
C. Sandars, a director, and Mr. Samuel, the
consulting engineer, were sent out to Mexico,
the former to enter into relations on behalf of the
company with the Imperial Government, and the
latter to receive charge of the works and line. On
their return to this country they stated the result of
their mission to the board. The terms concluded be-
tween 11r. Sandars and the Imperial Government
were in various respects more advantageous for the
interests of the shareholders than those contained in
the original concession. The arrangements between
the Government and the company were to take effect
from Jan. 1, 1865. The company were to hold the
concession in perpetuity, with immunity from com-
petition for 65 years. Five years were allowed for
the completion of the works from the Ist January
last, as well as for an annual subscription to the share
capital on the part of the Government of 15 per cent.
of the Customs revenue of the empire. The subscrip-
tion of the State,which it was calculated would amount
to £160,000 per annum, or £BOO,OOO in all, would, it
was estimated, produce not less less than £220,000
per annum, or £1,100,000 of the capital of the com-
pany. The shares which were to be given in ex-
change for the capital thus provided would be ina-
lienable in perpetuity, and would not bear interest
during the construction of the works. Theprivilege
of exporting silver free of duty extended not only to
an amount equivalent to the value of the materials
imported for the purposes of the railway, but also
to a sum of $560,000 per annum for a period of 25
years, being the amount of the yearly payment to
be made by the Government in respect of its sub-
vention. The fares and charges for passengers and
goods were at the absolute discretion of the directors
for the term of 20 years, subject to the maximum
of rates agreed upon between the Government and
Mr. Sandars. After that time they would be subject
to modification on an equitable basis. From the re-
port of Mr. Samuel, the engineer, it appeared that
from two sources of traffic alone there was a pros-
pect of considerable returns without taking other
sources of traffic into account.

The CHAIRMAN, in moving the adoption of the re-
port, said the company was founded on the basis of
receiving a transfer of the concessions made by the
Mexican Government to Mr. Escandon in 1857 and
1861. Mr. Sandars arrived in Mexico in December
last, and was met by all parties with the utmost
cordiality. The Mexican Government at once con-
sented to ratify the concession, and at the same time
to make modifications with a view to facilitate its
working. Witlyrespect to the tariff the Government
had assented to the company's charging its own
tariff up to ls. 6d. per ton per mile for first-class
goods, is. 4d. per ton on second-class goods, and
Is. 2d: per ton. per mile on third-class goods, which
was six times as much as any company was autho-
rised to charge in France. From those rates they
made a reduction of 15 per cent., and perhaps in the
lapse of a year they might make a further reduc-
tion, but the whole matter was practically in the
hands of the company. Al to the prospects of the
company they were excellent, and would far exceed
that which would amply satisfy the most sanguine
of its promoters.

The report was unanimously adopted, and spe-
cial thanks were voted to lir. Saudars for the zeal
and ability with which he had conducted the nego-
tiations between the company and the Imperial Go-
vernment of Mexico. Tie proceedings concluded
with a vote of thanks to the chairman and directors.