The Sun.
London, England, 1865-09-23 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.
In the general discount market there is a very
active demand for money, and the rate, for even the
best bills, is fully 4 per cent.
A further sum of £45,000 in gold was taken into
the Bank yesterday.
The directors of the Great Western of Canada
have recommended a dividend at the rate of 2 per
cent. per annum out of the half-year ending 31st
July, and to carry forward the balance of £3,265 to
the next account.

The Erie Railway Company, through Messrs.
J. S. Morgan and Co., have invited applications
for an issue of £BOO,OOO sterling bonds, bearing in-
terest at 6 per cent. at the price of £75, repayable
at £lOO at the end of ten years. The bonds are to
be convertible at any time within that period
at the option of the holder into ordinary
stock of the company at the rate of five
shares of $lOO for every £lOO bond. The price
of £75 per £lOO bond is payable by instalments as
under :—£s on application, £5 on allotment, £l5
on the 28th October, £l5 on the 20th November,
£l5 on the 20th December, and £2O on the 15th
January, 1866. Taking into consideration that
Ouse bonds are redeemable in 1875—i.e., ten years
hence—at £lOO the emission price of £75 after
deducting the allowance of discount on prepayment,
and the interest on the bonds from the Ist instant,
is reduced to £6O, paying therefore to immediate
investors 10 per cent. per annum. There is, beyond
this, the very great advantage of the option of con-
version of each bond into five of the existing fully
paid-up shares, at any period during the whole term
of 10 years. The contract for the operation also con-
tains a special clause, precluding the company from
overriding the present issue of bonds by the crea-
tion of any subsequent' security. The price on the
Stock Exchange is 2 prem., and the operation has
been favourably received.

Two o'CLocK.

At the Paris Bourse this morning, according to
Reuter's telegram, the S per Cent. Rentes were
68f. 50e.
Consols have closed this afternoon at a decline of
i per cent., and the market as well as the other de-
partments of the house has exhibited a very quiet
appearance. The latest prices are 89i for money,
and 891 for the account. There has been almost
an entire absence of speculation, and the invest-
ments, as usual on Saturday, have been very limited.
American Securities continue to be very popular,
with every probability of b ecoming more so in the
course of the next few weeks.

In the Foreign Market business is very dull, and
prices are almost unaltered. Turkish 6 per Cents.,
1862, are 741 ; do. Consolides, 49i ; Mexi-
can, 25 + ; do. New, 24 ; Greek, 21 + ; Spanish
Passive, 29i 30i ; do. Certificates, 14k i ; Confe-
derate Loan, 7 8.

In thepailway Share Market there has been very
little animation, and prices have generally shown
less firmness. Great Northern A Stock has declined
£l, Metropolitan 155., South Eastern 10s., and
Lancashire and Ycrkshire, and North Western each
ss.

The Foreign and Colonial lines are without any
malterial alteration in respect to prices.
Bank and Miscellaneous Shares are in very mo-
derate request, and exhibit little change in values.
Alliance are marked 32 ; London and County, 77+ ;
Union of Australia, 55 ; International Financial,
6+ f ; and London Financial, 24 ; Overend,
Gurney, and Company are quoted 4i prem. ; and
Transatlantic Steamship, 21 2f prem.

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
8 per Cent. Consols
Do. Account, Oct. 10
b per Cent. Reduced B7l 1
New 3 per Cent B7l I
New 21 per Cent. Jan. 1894 —
Do. per Cent. Jan. 1873 —
Annuities, 30 yrs, expire sth Jan., 1880
Do. -for 30 yrs, expire sth April, 1885 —
Do (Red Sea Telegraph), Aug., 1908 —
Exchequer Bills, £l,OOO, 3 per Cent. )
Do. £5OO r` 3 dis
Do £lOO and £2OO
Bank of England Stock, Si per Cent 250
Do Account ' —
INDIAN GOVERNMENT SECURITIES.
Indian Stock, 10 per Cent., Apri11874... 217
Do Account
Do. 5 per Cent. July, 1870
Do. Account
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enfaced Paper 4 per Cent
Do. 5 per Cent., Jan. 1872
Do. 51- per Cent., May 1879 —
Do. 4 per Cent., Aug. 1866 —
Do. Bonds, £l,OOO 22
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Austrian Bonds, 5 per Cent, 1859 —
Brazilian 5 per Cent
Do. ti per Cent., 1852-58-60
Do. 1863
Buenos Ayres 6 per Cent
Do 1 per Cent. (Deferred 3 per Cent.)
Chili= 6 per .Cent —
Do. 41 per Cent. —
Colombian 6 per Cent.
Cuba, 6 per Cent.
Danish 3 per Cent., 1825 —
Do. 4 per Cent., 1863 —
Do. 5 per Cent., 1773-77, £25 paid
Danubian Principalities
Do. Account
.Equador New Consolidated, 1 per Cent —
Do., Provisional Land Warrant
Egyptian 7 per Cent
Do., Second Issue •
' Do £lOO Bonds
Do. 1864 96.* 6

Do £lOO Bonds 94
Greek 5 per Cents., 1824-5, ex Coupons
Do Account 2l
Do. Coupons
C.tuatemala 5 per Cent.
Do £B6 paid
Do. 1839 and 1850 —
Italian 5 per Cent (Maremmana Railway)
Do 1865
Do Scrip, .£679 paid
Do 5 per Cent., 1864 —
Do. Scrip, £55 paid
Mexican 3 per Cent
Do. Account
Do 1864

Do 6 per Cent. Anglo-French 5ll
Do French Sciip, Ex. 25f 20c
Montevidean 6,per Cent., £3O paid —
Moorish Imperial 5 per Cent —
New Granada l4l
Lci Do 2 per Cent
Do Deferred
Do Land Warrants (Hectares)
'Peruvian4l per Cent —
Do Scrip, £45 paid, paid in Bonds
Do 3 per Cent. (Uribarren) —
Do 44 per Cent., 1862
Do. Account
Portuguese 3 per Cent., 1853
Do Account
Do 3 per Cent., 1856, '7, '9, '6O, '62, '3, 461
Do. Account
Russian 5 per Cent., 1822, £ St
Do 41 per Cent. 1850
Do 3 pez CeiLt. 1859
Do 41 per Cent., 1860
Do 5 per Cent. 1862 ' 921
Do 5 per Cent. 1864 —
'Sardinian 5 per Cent —
Do Account
Spanish 3 per Cent
Do Account
Do New Deferred
Do Account
Do Passive —
Do Account
Si-banish Cert. of Coup not funded —
• Do Account 144
Swedish 4 per Cent. —
.
' Do Account —
Do. 41 per Cent. 1864
Turkish 6 per Cent. 1854 —
Do Account —
Do 6 per Cent. 1858
. Do Account
Do £lOO Bonds
Do. 11 per Cent
Do 6 per Cent. 1862 —
Do Account 744
' Do £lOO Bonds 741
Do 6 per Cent., 1863 —
Do 5 per Cent. 1865 —
Do•XIC 0 Bands .
Do. Scrip, £35 paid
..,Do Guaranteed, 4 per Cent —
Venezuela 3 per Cent. —
Do. Account
Do. 6 per Cent, 1864 6ll
. Dividends on the above payable in London.
tt 4stri a n , 5 per Cent., Ex. 10 Florins
D
,4611gian, 41 per cent., Ex. 25f.
tch 24 per Cent., Ex. 12 Gull —
F 1)0. 4 per Cent. reach Certificates —
Relates, 41 per Cent. —
It
13 0 • Account
B,i•
lati 5 per Cent., 1861, Ex. 25f. —
D 0 Account

consols TWO O'CLOCK.
89} j
DO. Account

n.~.M'MitLNi.vl~Ni 1

.A KED

Great Western Orig. 4i per cent pf., 95i
London, Chatham. and Dover a per cent. pref., 96

PREFERENCE SHARES AND STOCKS.
Great Eastern 4i per cent, pr.,
Ditto, 5 per cent, pf., 9:,
London, Chatnam, Metrop. E tt. B, 6 per cent., 100

LINES LEASED AT FIXED RENTALS.
Nottingham and Grantham R. & Q. 91i

FOREJON SAIL WAY B.
Antwerp and Rotterdam, IGf
Banta and San Francisco gua. 7 per cent., 141
Belgian Eastern Junction,
....reat Luxembourg, 15i
South Austrian and Lombardo Venetian, 181

lititil4-rIS afarEib
Don Pedro, North Del Rey,
Mariquita,
United Mexican, lim„ 3I

BANKS.
Agra and Masterman'a, lim., 571
Alliance' 1ira..1ira..32
Bank of British Columbia, 24a
Chartered Bank of India, Australia, and China, 271
City, 112 i
Consolidated Bank, lim., 10
Eng ish Joint Stock, Um., 111
Hindustan, China, and Japan, ilm., 22
London and Brazilian (lim.),
Ditto, new, 3
London and County.
London and South African, 17
London and South-Western, lim., 191
Merchant Bank, lim., 271 6 •
•
Union of Australia, 65
MISCELLANEOUS.
Atlantic Telegraph, 8 per cent. gua., I
Berlin Water Works, Bin.. 131
City of Moscow Gas, lim., 1/
Cou'mercial Union, Insurance, 81
Credit Fonder and Mobilier of iwzgland, 91
Discount Corporation. 16
Gelliver a, Bra., 4 • 4
Gen. Credit and Finance of London, lim.,
General Steam Navigation. 27
Hudson's Bay, it!
Imperial Mercantile Credit Asso., lim.. 6;
International Financial society, Um., 61
Joint Stock Discount, lim.. 91
London Financial Association, lint., 23a
London General Omnibus Company, 31
Overend, Gurney, and Co., lim., 151 1
Peninsula and Oriental Steam. 7s a
Smith, Knight, arta C0.,11n., 1
Telegraph Coubtructit,n and Maintenance, lira.,
Ditto (£l2 ,Ok
Thames and Mersey Marine (Insurance). lim.. 81
Trust and Loan Company (..f Upper Canada, b *
Universal Marine. Insurance, lim., 51 5

PALMERSTON ON ENGLISII CAVALRY.--ID this
session in which the Opposition would seem to have been
peculiarly anxious to make mountains of molehills,
and to seize every captious point of petty criticism, an
attack was made on a vote in the estimate for a riding-
school established at Pimlico for the purpose of teach-
ing the dragoons an official and uniform style of equita-
tion. Palmerston carried the vote, alleging the necessity
for the proposed construction, and alleging that in the re-
cent war a foreign officer had uttered the highest eulogium
upon the English cavalry, with but one important proviso
—" If they could but ride !"-31-Vilchrises Life ofPal-
tnerston.