The Sun.
London, England, 1862-06-10 00:00:00

MONEY MARKET.

CITY NEWS, YESTERDAY.
A check was uiven to the stock markets this
morning by the success gained by the Confederates
over the Federals, which appears to discourage the
idea of an early termination of the war. The stag-
nation of business is further increased by an expecta-
tion that money will become somewhat dearer,
although no indication of an anxious character is
presented. Meanwhile there is a steady demand for
all good investments. Indian railway securities,
amongst others, were in increased request to-day.
The English funds were fiat, owing to the full
supply of stock shown at the settlement now in
progress, and any tendency to recovery was pre-
vented in the afternoon by a withdrawal of gold
from the Bank. English railway stocks were
strengthened during the latter part of the day by
the anticipation of better receipts from the now
rising Exhibition traffic. American securities have
given way, in consequence of the news from New
York. Italian Five per Cents. and Lombardo-Vene-
tian Railway shares were very buoyant.
The demand for money, both at the Bank of
England and elsewhere, was only moderate, but
owing to the prevailing idea that the exportation of
bullion on account of foreign loans will ere long
cause a further slight advance in the rate of dis-
count, holders of money evince a disposition to
charge protective rates. Good bills having more
than a month to run can scarcely be placed at 3
per cent,, while for three months' paper the charge
is above the Bank minimum. A similar indisposi-
tion to enter into long engagements, unless at a
proportionate advance in terms, is shown in the
Stock Exchange, where only 12 per cent. is required
for loans on Government securities from day to day,
while for a month 2i, or 21 is asked.
At Paris to-day the Three per Cent. Rentes opened
at 68.95 ex div., and closed at 69 for money, and
69.05 for the account, showing a rise of to per
cent. since Saturday afternoon.
The fortnightly settlement in shares and foreign
stocks will commence on Wednesday (" continua-
tion" day) and terminate on Friday.
A telegram from Revel, dated June 8, mentions
the stranding on Neckmann's Ground of the steamer
Trent, Captain Brown, bound from Hull to Cron-
stadt with goods. One compartment and the en-
gine room were filled with water. The crew and
passengers were saved. _ _ _

The American news has caused a fresh rise of id.
to id. per lb. in the price of cotton at Liverpool to-
day. The transactions were considerable, reaching
10,000 bales.

The rise in the American exchange and in the
premium on gold at New York is partly occa-
sioned by the demand for remittance against
realisation of securities by English holders.
The holders of Moorish bonds will be glad to
learn that the funds required for the interest and
sinking fund due August Ist are furnished without
the necessity of having recourse, in any way, to the
customs revenues specially hypothecated to the
loan. It has before bee❑ pointed out that Moroclo
occupies an exceptional position amongst foreign
States, inasmuch as she has no debt and no stand-
ing army. The bonds have been dealt in to-day
as high as 921, being equal to 71 prem on the issue-
price, and are now so completely absorbed by in-
vestors that it is difficult to effect a purehase even
of small amount.

100,000 sovereigns were taken from the Bank to-
day for transmission to Constantinople, and a fur-
ther total of 200,000 is expected to be withdrawn
to-morrow.

£200,000 in Russian imperials, part of the
£600,000 recently bought by Messrs. Rothschild
for transmission to St. Petersburg, was taken from
the Bank to-day, but was paid for by a like amount
in bar gold. _ .

The limited amount of bar silver brought by the
Mexican packet has been sold at 64d. per oz., being
an advance of lid. as compared with the last arrival,
but a decline of -}d. from the rate lately realised.
The dollars,which constitute the bulk of the arrival,
are not yet disposed of.
The next instalment of 15 per cent. on the Egyp-
tian loan of £2,195,200 becomes due to-morrow.
This will make 45 per cent. paid out of the contract
price of 821. Subs3riberst will at the same time
continue to have the option of paying up in full and
being allowed 7 per cent. discount.

CITY NEWS---THIS DAY .

CITY, TWELVE O'CLOCK.

Business in the Foreign and Colonial Produce
Markets has continued very inactive owing to the
absence of many of the principal dealers during the
-Whitsuntide holidays. In the private market there
hao been a fair inquiry for tea, at full rates.
Sugars have continued dull, and coffee, rice, and
spices are nominally at previous quotations. Salt-
petre has declined 2s. to 2s. 6d. per cwt. ; but
tallow has continued rather active, at 465. 6d. per
cwt. on the spot, and 48s. 9d. to 495. for last three
months' delivery.

BRITISH FUNDS-01•111 O'CLOCK.
Bank Stock
per Cent. Reduced Annuities ....... .• • 912 i
3 ; er Cent. Consols Annuities
Nt,w 3 per Cent. Annuities - 1
Annuities, 30 yrs, expire sth Jan., 1880 —
Ditto for 30 yrs, expire sth April, 1885 l5 5-16
India muck
I )itto 5 per Cent . ' lo7l i
Ditto Debentures, 4 per Cent., Oct., 1863
Ditto dtito April, 1864 99t
!`,itt, bonds £1,000
Cousols for Account, July 10 ... 92
Exchequer Bills £l,OOO, 3 per Cent .. 4
Ditto Advertised
• FOREIGN FUNDS—ONE O'CLOCK.
-.Brazilian, 5 per Cent. —
Ditto 41 per Cent., 1852.58-60
Egyptian, 7 per Cent
Ditto Paid up
Grenada Active
Ditto Deferred
:Al.exican, 3 per Cent
'ilissian 5 per Cent 1822. £ St —
Ditto Account
Ditto 4i per Cent 921
Sy knish 3 per Cent
Ditto Passive.,
.Spanish Cert. of Coup, not funded
Turkish 6 per Cent. 1854
Ditto 6 per Cent. 1858
Dim Account
Ditto 1862 (Scrip)
Ditto, Paid up Scrip
Ditto Guaratteed, 4 per Cent.
Dividends on the above Payable in London.
Italian. 5 per Cent., 18614 ex 25f. 72 1 2
TWO O'CLOCK
Con,ols, Money
Ditto Account -

Two O'CLOCK.
The annual meeting of the Bank of British North
America took place to-day. Mr. Robert Carter in
the chair. The report stated that the profits for
the year amounted to £61,212 4s id. Out of
which amount the directors have declared a half- ,
yearly dividend, payable on and after the 6th July
next, at the rate of 6 per cent. per annum, free of
income-tax ; leaving the sum of £1,212 4s
ld to be
:added to the rest or balance of undivided
p
which, including this addition,
7s amounted, on 3ofilst, t
December, 1861, to £126,978 ld, after providing
for the dividend that was paid in January last.
The Chairman, who moved the
,adoption of the re-
port, remarked that he was prepared to hear great
e
shareholders at
disappointment expressed by
the small dividend proposed to be paid in spite of
bank
the
the favourable business transactions of
, during the past year. This circumstance had arisen
from the directors having to provide for bad debts
which had accrued during the distress of the year
1857. It was stated that the amount placed to the
debit of the reserve fund for bad and doubtful debts
was £20,000 ; the sum taken from the profits of
last year to the credit of that fund, £24,000 ; the
amount considered requisite to cover the contin
genci,,:s of last year's business, £7,000. The report
was adopted, and the retiring directors re-elected.
Extreme quietude has pervaded the Stock-Ex.
change Market to-day, the settlement of the account
in Consols having occupied exclusive attention. The
Funds are 91-7,- for money, and 92 I for the 10th
proximo. The New Threes and the Reduced are
Itt at 911 a ; Exchequer Bills have receded to 4s.
prem. ; Bank Stock is 2341 and 236; India ditto,
231 ; and ditto 5 per Cent., 1077;
In the Foreign Market business is dull, and

prices show very little change. Turkish 6 per
Cents. are 821 a ; ditto 1858, 70 • ditto New Scrip
,2

remain at 3 prem. ; Egyptian, at 113 i prem. ;
.Mexican, at 311,-; Russian 5 per Cents. are fiat, at