The Sun.
London, England, 1867-04-25 00:00:00

loNiy MARKET

AND

COMMERCIAL [NTELLIGENe.S,

TWELVE o'CLonx.
The minimum of the Bank of England is still 3
par cent., the directors having refrained from a re-
duction, although the lowest terms in the general
discount market are quoted 2f a per cent., and in
the loan department in Government securities at
the Stock Exchange to 1 per cent. The execu-
tive are well aware that, in the present stagnant
condition of enterprise, commercial and otherwise,
a downward move of per cent. would not benefit
them, as competition would spee lily place affairs in
the same relative position as before, the demands
being small and the supplies excessive.
Gold to the amount of £58,000 was withdrawn
from the Bank of England yesterday.
The second report of the Bankers' Guarantee and
Trust Fund has been issued. It states that 585
new policies, representing subscriptions to the
extent of £5,587, had been issued between the Ist
May, 1866, and the 31st March, 1867, while the
claims during the same period amounted to £666.
The sum invested and in hand at the latter date
was £8,722, and the reserve fund was £6,851.
The directors of the Otagoand Southland Invest-
Meat Company have issued their report in anticipa-
tion of the meeting on the 9th proximo. It shows
an available total of £5,282, eaual to about 13 per
cent. per annum on the paid-up capital of the
company, which they intend to distribute as fol-
lows'-'The interim dividend at the rate of 8
per cent. per annum, declared on the business to
the 31st of July, 1866, required £1,549 175.,
leaving £3,732 now available for distribution. Of
this sum the directors recommend that £2,320 be
applied towards the payment of a further dividend
at the rate of 12 per cent, per annum, free of in-
come-tax, which would be equivalent to 10 per
cent. for the whole yeir ; that £l,OOO be applied to
X3soeonatnence‘ment of a reserve fund ; and that
£250 be written off the preliminary expenses,
thereby reducing them to £750, and leaving a
balance of £162 to be carried forward to the credit
of next account.
A statement of the affairs of Mr. Sebastian
Lelia has been submitted to the creditors. The
liabilities aro about £17,000, and the assets about
t0£12,000.
A resolution was passed unanimously
Wind UP the affairs under inspection. The
l
,"Bsca appear to have arisen chiefly from specu-
ation on Italian stock.
Further telegraphic facilities between Europe
and America are r j
equired, and the sub ect is en-
faging universal attention, and competitive lines are
fin contemplation. Besides the Bermuda and Azores
ondertaking a new enterprise is about to be started
a r laying a cable between Brest and New York, so
e: to directly connect Paris and New York. This
ore3PanY is already recognised, and is composed
e: American capitalists. The principal is now
eeta established that with perfect insulation and suffi-
ciently
Powerful batteries and electro-magnets the
communication can be extended to an indefinite
__3etance, and this New York and Paris Cable Com-
-11111 y are said to have secured an important improve-
a„ upon the old Morse batteries and instruments,
"•1 to feel confident of their ability to send mes-
sagese direct from San Francisco to Paris without
.rawriting. 'With their improvements they can
as transmit nearly times as'' many words per minute
the old batteries can send. They also propose to
t7natruct land and cable lines all round and through
t
, r
ne United States, so that the cable despatches can
Chici sent by them direct from San Francisco, St. Louis,
.agn, _
-New Orleans, or other points, to Paris
'without copying.
Thee last week's Railway receipts, ascertained up
to clay, are in round figures as under :-
1867. 1866.
Great Nve
73 654 73,551
wester
south n
-116'002 117,213
27,436' 24,915
laitdlanirighton western
••• :•••• 25,505 '20,151
"' •••
55,055 50,728
Groat Easte;n" ..•
•••
27,634 22,784
..areat Northern ••• •'• •... 37,053
4859 37,031
•212
Veashire and
Yolkshire... •• •
lrth 'tol and
7,145 7,087
E:.
22,165 19 900
_ester, Sheffield, and Lincoln •..•
36,872 36,833
44h tser„ 60 162 67,6 9
London, Great
North .hatham, and Dover ... •::
rnish 26,427 24,375
" ***
13229 9,490
-B.r-etromitart
***
• 4,314 4021
Midr,„B,"thern and Western of Ireland... 9,882 11,004
Glaand Great Western of Ireland ,l9e 1,272!
-"W and South-Western ... 10,058 111
uese returns, when compared with those of the
very satisfactory results. On the Great Western
there is au increase of £lO3 ; on the South Western,
'2'521. ; on the Brighton, of £5,354 ; on the
Midland, of
£4,327 ; on the South Eastern, of
L4's°o; on the Great Northern, of £22 ; on the
..,'-daticashire and Yorkshire, of £4,330 ; on the
ziristol Sheffield and Exeter, of £5B ; on the Manchester,
, and Lincoln, of £2,265 ; on the Great
Eastern, of £39 ; en the London, Chatham, and
1/over, of £3,739 ; on the North British, of £2,052 ;
and on the Metropolitan, of £2BB ; while the North
Western shows a decrease of £1,241 ; and the North
Eastern, of £7,487.
With regard to American securities during the
Past week Messrs. E. F. Sattherthwaite and Co.
State as follows :-" The daily fluctuations in the
London market for American securities have been
of unusual severity, prices being influenced almost
entirely by the various rumours current as to the
course of European politics. United States 5-20's
which left off this day week at 71k to I, were at one
time sold as low as 674, but on slightly more
• favourable reports from the Continent have rallied
a little, and close at 67/ to 68. It is evident
that large sales have been effected here on German
account, and that the market will for some time be
affected chiefly by the warlike or pacific intelligence
received from abroad. Illinois Central Shares on
an advance in Premium on gold in New York have
L'eclined nearly $4, closing 72 to 73, but Eries have
ra comparatively steady, the latest quotation,
tn 37, being less than $1 under the price of this
.7
Week. Atlantic and Great Western Sectional
Glide remain steady, but the Consolidated Bonds
bane declined to 20 to 21."
A rahf
report of the Colonial and Foreign Banks Gua-
--.ueee Fund has also been circulated. It is men-
c7ned that 404 proposals for guarantee were re-
elved during the year ending on the 31st of
u esubs
arch, at which 318 were accepted, representing
acriptions £9,521, against which no claim has
tectee.n. The reserved fund amounts to £8,033, the
S ear 2,304, and the payments £35 3s.
fro, l°ined is a-statement of receipts for customs,
1,4,7 March 23d to 30th, in the United States :-
I)hlai
.. ork 62,500,988 23
Ne ore ...............
74,976 44
Ban rleans,
.......................
119,767 91
pr March to 23 98537 78
• anciseo, February 22 to 28 113,,418 74

. _
Total
$2,907,689 10

Two o'CLoca.
ciaYAccording to Reuter's telegram from Paris to-
s,' .l the Prencbi Renter were 65f. 10c. Agitated.
cietriuce the adjournment of the Bank Court the
quiet" for monetary accommodation has been
0 at easy potatio ns.
cc:quilt:le Stack Exchange this morning there was
ingttietude, with its usual accompaniment,
" Luxembourg," " Berlin," " Paris," and
pens Inediate war," being prominent words in con-
rah y,
•v 4 the House and in City circles gene-
Y•
fully •al des, therefore, gave way ; but as the
fio
nitel this morning comments very power-
part frcr(Jur of peace and a pacific policy on the
Itncl of
the Emperor--" France desires peace,
With '1 anxious that no doubt should exist
Lgiard to• her intentions," (ride tele-
takatilall I.l'olll Paris)—some of the " Bears" have
this th eir profits, and the necessary purchases for
th"(sject have caused a reviving tendency even in
/:aee of a further fall of nearly
per cent. in the
%)el:tes• Consols have been 901 4, and they are now
for transfer and account. The New Threes
231
.I!edueed Annuities are 89k ; Bank Stock,
lio '4-ttclia Stock, 217 219 ; ditto 5 per Cents.,
4 ' and ditto Bonds, 475. 525. prem.
the o Foreign Stock Market has improved since
to"erung this morning. Italian have advanced
434 44 ; Mexican 4, to 154 ; Spanish Pas-
e i) to 191
; the Certificates 4, to 12k ; and