The Sun.
London, England, 1867-05-08 00:00:00

ONE! MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

The demand for accommodation in the,general
discount market continues moderately active, and
the rates demanded for the negotiation of first-class
short dated paper is fully 3 per cent.; in a few ex-
ceptional instances, however, business has been
done at 2i per cent.
About £5,000, iu American eagles, were taken
from the Bank of England yesterday.
The City of Baltimore had brought about
X 61,900 in specie.
The last accounts from Brazil state that the re-
ceipts of the San Paulo Railway were daily increas-
ing, and that the-traffic was likely soon to be much
iu excess of the capacity of the rolling stock at pre-
sent on the line. Additional engines, &c., it is said,
are consequently to be sent out with all possible
despatch.

Atlantic and Great Western Railway Debentures
remain steady at 32 34 ; and the Consolidated Mort-
gage Bonds at 21 22.

Two o'CLocK.

A healthier tone pervades the Stock Exchange.
There is not much animation, speculation being
dull, and the dealings for transfer too limited to im-
part much vitality to the respective markets. The
brilliancy of the weather, the abundance of money,
and the improved aspects of politics, home and
foreign, sustain quotations, and Consols are very
firm, 911 for the settlement in June. This
morning a very favourable effect has been
produced by a rise of 2 per cent. in the
shares of the Brighton and South-Eastern
Companies by the proposed amalgamation. The
New Threes and Reduced Annuities are 891 1 ;
Exchequer Bills, 225. prem. ; Bank of England
Stock, 2511 253 ; India Stock, 217 ; do. 5 per Cents.,
1101 ; do. 4 per Cents., 95 2 ; do. Enfaced 5
per Cents., 102 1 ; and do. Debentures, 525. prem.
In the Foreign Department of the Stock Ex-
change considerable firmness prevails. Italian
have advanced 1, to 481 4 ; Mexican 1, to 151 16 ;
Greek 1, to 13 1 ; and Spanish Certificates 1, to
13 4. Spanish Passive are 192 to 201 ; Turkish 5
per Cents, 281 29 ; and Russian, Chilian, and
Danubian Scrip are dealt in at nominal prices.
The operations in the Railway Share Market have
been to a fair extent, and a firmer tone has pre-
vailed. Caledonian, Great Western, North-
Western, and Midland, have each improv ed 4 ;
Manchester, Sheffield, and Lincoln, and South-
Eastern each 4 ; and Brighton, 2 ; while South
Western have receded 11 ; and Great Northern A
stock, ?_l,
The foreign and colonial lines exhibit no ma-
terial change. Austrian and Lombardo-Venetian
are dealt in at 141 144 ; Great Western of Canada,
at 141 ; East Indian, at 1081 2 ; and Great Indian
Peninsula, at 1081 1.
The business officially marked was as follows :
Brazilian 5 per Cents., 1865, 73 ; Buenos Ayres 6
per Cents , 781 ; Chilian 6 per Cents., 1867, 791 ;
do. Scrip, 41i dis. ; Danubian Scrip, 51 dis. ;
gYptian 7 per Cents., 1864, 80 ; do. £lOO Bonds,
82 3i ; Italian 5 per Cents., 1861, 481 4 ; do. 1865,
681 ; Moorish Imperial, 944 51; Peruvian 41 per
Cents., 1862, 721 ; Russian 5 per Cents., 1862,
851 ; do. Anglo-Dutch, 1866, 851 ; Spanish 3 per
Cents. (New Deferred), 31 ; Turkish 6 per Cents.,
1854, 721 4 ; do. 1858, 52 ; do. £lOO Bonds, 1862,
53 51 ; do. 5 per Cents., 1865, 281 94 8i ; do.
Guaranteed 4 per Cents., 101 ; and French Rentes,
67f. 75c.
American Securities are not quite so steady.
Erie shares have declined 1, to 404 411 ; United
States 5-20 Bonds 1, to 71 1; while Illinois haie
advanced to 741 74.
Miscellaneous and Finance Shares are neglected.
Anglo-American Telegraph remain steady at 184
19 ; General Credit and Discount at 41 ; National
Discount Co. at 12 ; and Rio de Janeiro Improve-
ment at 198.
.Bank shares are dull, at barely previous values.
London and Westminster are marked 911 92 ;
London Joint-Stock, 421; Impel ial, 19 ; London
and County, 564 ; and Union of London, 39 394.

MINING MARKET.
WEDNESDAY AFTERNOON.
Business has remained very quiet, but prices
generally are well sustained, Seton having advanced
to
, 120, buyers. Annexed are the latest prices:—
-u,r3r n Gwiog-
Illtverton Moor 5l 51 North Crotty
-c,
belifford Amalgamate 4! 5 North Treskerby
~.ast Basset l2 15 Princeof Wales 52s Od 53sOd
-cast Cara Broa — Providence Mines 27i 28i
East Ca,radon 5-} 51 South Condurrow ...
East Lovell Bi 9f Tincroft
East East Russell
WhealGrenvilio -- West Seton —
Great Laxey
Great Retallick
Great Wheal Vor... 17i 18 Wheal Seton l2O 12k

BRITISH FUNDS—CLOSING PRICES.
GoVERNISILNT rUNDIS.
a Der (mut. Consols
Do. Account, May 9 pi* i-
a_per Cent. Reduced ....-

xtectuc4td
89} .1
New 3 per Cent B9a 1 1
New 21 per Cont. Jan. 1894
Do. 5 per Cent. Jan. 1873
Annuities, 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April 1885
Do (Red Sea Telegraph), Au,., 1908 —
Exchequer Bills, £l,OOO, o and 4 per Ct 25
Do £5OO

Dank
Do. £lOO & £2OO 22 pm
Dank of England Stock, 6k por Cent

INDIAN GOVERNMENT SECURITIES.
Indian Stock, 101 per Ceut., April 1874 217 18
Do. Account
DO. 5 per Gent. July, 1880
1)
s°. 1 per Cent., Oct. 1888
0. Certificates —
DO. Enfaced Paper 4 per Cent —
I),°- 5 per Cent., Jan. 1872
'Jo. Deb., 5 per Cent., Aug. 1873
Do. Bonds, 5 per Cent., £l,000
Do. wider £l,000
A *FOREIGN FUNDS—CLOSING PRICES.
~ rug enne Republic, 6 per Cent 11.. stritian Bonds, 5 per Cent, 1359
448-zilian 5 per Cent
UO.ll per Cent., 1852-58-60
.i., Do. 1863
~'"-'O. 5 per Cont., 1865
-FA:, Account "73
, Do. £lOO Bonds
unenos Ayros 6 per Cent 7Bf
k;
, pailian per
cr Cent. (Deferred 3 per Cent.)
6 p Cent
-Do. 41 per Cent
Do. 6 per Cent A •
Do,
B
71
Do. . ~ 1867
c 13°- ' , Scrip, £2O paid ll I dis
D 1
an, 6 er Cent.
j],451, 6 per Cepnt.
Dish 3 per Cent., 1825
, " ). 5 per Cent., 1864 .•
•••• 'ntibian Principaliti 3F, 7 per Cent
Do. Do. 8 „ 1867
Do, Do. Scrip, p 5 paid 51 dis
tV
qUador New Consolidated, 1 per Cent —
ptian 7 per Cent —
1)0. Second Issue
Do. 4100 Bonds
L 0• Do. 1864 BO
,„0. 4100 Bonds B2 31 3
4
o'o Government Railway Debentures BO
rPic 5 per Cents., 1824-5, ex Coupons
,0..
Account
.uo• f Le . , upons
41-,0- Account
j3l.sltenaala 5 per Cent •
illan 5 Per Cent 1865
-4'
0 Account

It -- - romp:rum Railway , ,
41car. 3 per Cent -
Ditto for Account
Do. 1864 —
Do 6 per Cent. Ariglo-French —
ontevidean C per Cent. ..
porish Imperial 5 per Cent
94f 51
'em Granada
-,,t)° 3 per Cen
•'-',.,0. Deferred
b Do Land Warrants (Hectares) -
iilrian 5 per Cent 1865
Do Account
11° 41 per Cent., 1865
,Do 4% per Cent. (Uribarren)
po 41 per Cent., 1862
I,- 'Jo Account
et'iguese 3 per Ct., 1853, '6, '7, 9,'60,'2,'3
-Qs„glati. 5 per Cent., 1822, £ St —
Vo 41 per Cent. 1850
.D 0 4f per Cent., 1860
1),,° 3 p3r Cent., 1859 —
851
-,.'-',° 5 per Cent., 1862
-1;°. 5 per Cent, 1864 —
DoBsl 1
'-',.). nglo-Duteli, 1866
1} i dis
do. £6O paid
'gal-Lulea 5 par Cent
'3l)Aish 3 per Cent Do Ace/Amt. ~, -
Do Now Detelied —
DO. Account._
CO Passive —
s o° Aoctant —
Do Account
Pauish Cert. of Coup not funded _
. -.

Turkish 6 per Cont. 1854 ______
Do. Account
Do 6 per Cent. 1858 —
Do. Account
__ __

Do £lOO Bonds o
Do 6 per Cent. 1862.
Do Account
Do £lOO Bonds 53 51 6
Do 6 per Cent.,1863 •
Do 5 per Cent., 1865
Do. Account
Do. 6 per Cent., 1865 .—
Do. 4 per Cont. Guaranteed lOl
Divilends on the above payable in Loudon.
A.ustrmn, 6 per Cont., Ex. 10 Florins
44 per cent., Ex. 25f.
Dutch 2:4, per o.ut. Ex. 12 Gull.
Do. 4 per Cent. Certificate:,
French Bcntcs, 3 Der Cent., Ex. 25f.
Itaiinh 3 per 11.Aut. 1831, Ex. 25f. ......
Do. Account 4Bl 4
T 'TREE O'CLOCK
Consols, Money
Do. Account

PICTURES' IN THE PRE NCH
EXaIBITION.

The strongest Exhibition is of course the Frenc

but it is not of equal strength throughout, being
weakened and disfigured by occasional excesses of
false taste, though these are proportionately rarer
in French art than they were formerly. Amongst
the new names Bonnat deserves our most respect-
ful mention, in spite of a Spanish tendency to
blackness, which is carried to a still greater excess
by another skilful Frenchman, Ribot.
After the French Exhibition comes the Belgian
one. It is, on the whole, the most entirely good
modern exhibition of pictures we ever saw. It is
not overwhelming in quantity, and the selection
must have been severe for the quality to be so uni-
formly high. The three artists best represented arc
Leys, Willems, and Alfred Stevens.
The worst exhibition is that of Portugal. It. is
astounding. It is the worst public exhibition of
pictures we ever saw, except the " Salon des
Refuse's" in 1863.
The English gallery may fairly claim to rank
after that of Belgium; but English pictures are
never agreeable in large masses, because our artists
are so strongly individual that their works hurt
each other much. The English gallery is like an
orchestra every member of which is playing a dif-
ferent tune, but the players are, separately, very
skilful executants.

We have been agreeably surprised by the Spanish

Exhibition, of which our expectations were not
great. Let us especially mention Palmaroli's mag-
nificent picture, " Sermon a la Chapelle Sixtine."
The Bavarian Exhibition is strong in some points,
but not in ambitious historical painting on a great
scale. The finest work here, to our feeling, is
Piloty's " Death of Caesar." It is a most admirable
composition, full of unity and breadth, and painted
with supreme skill.
The Belgian, Bavarian, and Swiss Exhibitions
have separate buildings of their own, in the garden.
The Swiss Exhibition happened to be closed, during
the days we had reserved for it, in order to paint
the floors and let the paint dry—a useless expendi-
ture, as we do not go to a picture exhibition to look
at a painted floor ; but this is exactly like every-
thing else about the Universal Exhibition, which is
not yet in a condition to be opened, even at the
end of a month alter the official inauguration. The
Swiss Exhibition was only like most other con-
structions in the garden, which usually bear one of
the following inscriptions :—" Le public n'entre
pas," "Entree Interdite," "On n'entre pas lei• •, "
" Defense d'entrer."

The Swedish and Norwegian Exhibitions are
both headed by a Royal contributor, Kng Charles.
We regret not to be able to say anything very
favourable of his landscapes, but we applaud his
love of nature. As an artist, King Charles seems
too unhesitating, considering his stage of progress ;
his work is not thoughtful enough. Ile.is far too
sure of what he is about, and has learned the trick
of this kind of workmanship far too thoroughly.
This is the work of a confident and half-educated
amateur, fond of nature, but wholly ignorant of the
requirements of painting as au art.
The Italian Exhibition seldom rises much above
mediocrity, but it does so- in some instances and
deserves study. The best Italian art seems to be
founded on the most recent French manner. Thus
the wanner of Pasini has an evident connection with
that of Belly. Pasini, like our own Wyld, really
belongs to the French school, for he lives in Paris
and always contributes to the Salon. His great
picture iu the Universal Exhibition, " Le Schap de
Perse parcourant les provinces de son royaume," is
one of the finest things there.

The American Exhibition is small in quantity,
but of high quality, especially in landscape. The
"Niagara" of Church, and the " Rocky Mountains"
of Bierstadt, are at the head of American landscape,
but several other works closely approach and sustain
them. Mr. W. M. llant's portraits, especially the
one of Abraham Lincoln, are remarkable.
The great German school would of itself deserve
long and careful study, but it would be necessary
to distinguish the true tendencies of the artists
from the fals3 directions imposed upon them by
German theories and philosophies of art. A labour
of this kind would be arduous, and of course en-
tirely beyond the already attained limits of our
space.—Saturday Review.

ROYAL SCHOOL FOR DAUGHTERS OF
MILITARY OFFICERS.

The third annual meeting of the supporters of this
institution was held yesterday in the theatre of the
United Service Museum, Whitehall-yard; the Duke
of Cambridge in the chair, supported by the Earl
of Cardigan,. Earl Powis, L'rd F. Paulett, and
Generals Sir W. Gomm, Sir G. Pollock, Sir W.
Codrington, Sir E. Cost. Lawrence, Ashburn-
ham, Hope, Westfield, and a large number of
military officers. The Rev. Mr. Jenncr, the secre-
tary, read the report, which stated that the
school had made considerable progress since the
last annual meeting. The number of pupils then
in the school was fifty, while the number
now is 69, of whom 47 have been elected by the
subscribers, paying £l2 each per annum, and 22
have been admitted on nomination by the committee,
paying each £so.per annum. The daughters of all
officers in her Majesty's army, inclusive of the
marines, are eligible for admission from 10 to 15
years of age. The number of applications for ad-
mission are most pressing—some of a most painful
nature, and many of these the committee have been
compelled to reject solely from the want of funds.
The income of the past year exceeds the current
expenditure, and a large number of pupils could
be admitted if the state of the funds allowed the
necessary accommodation to be provided... The
annual subscriptions for the past year had been
.£2,544, being an increase over those of the preced-
ing year of £967. The total income of the year had
been £11,290 ss. 101 The expenditure, including
the rebuilding of the school, the purchase of land,
and the general expenses, had been £15,143 55.,
leaving a liability of £3,807, which had been reduced-
since the balance-sheet had been made up by £l,OOO.
The chairman said the deficiency had arisen from
the committee having been disappointed in the
receipt of a large sum of money they had been pro-
mised, and but for which they would not have
entered upon such extensive building transactions.
However, there was still good ground for hoping
that the money would yet be paid over. Under
the circumstances, he would advise the strictest
economy on the conprnittee, and that on no account
should they admit more scholars than they consi-
dered the state of the funds would warrant until
the debt was cleared off. Nothing so much ham-
pered the managers of a charitable imtitution as a
heavy debt hanging over their heads. He was
happy at seeing himself surrounded by such a large
number of general officers, as it augured well for
the future of an institution in which he took a
deep interest. Military officers a 3 a body were
unable to subscribe largely to the institution, and
it must therefore depend in some measure on the
support of the general benevolent public. He con-
cluded by strongly advocating the claims of the
society. On the motion of Sir William Gomm,
seconded by Earl Powis, the report was adopted.
The meeting was afterwards addressed by Sir W.
Codriugton, General Lawrence, the Earl of Cardi-
gan, the Hon. Sir E. Cost, and others ; and the
committee of management for the ensuing year hav-
ing been elected, the proceedings concluded with a
Tote of thanks to the chaiiman,

Great

ritNt'ratliaN b ma, Ati.
tk-orthern, 5 per cent.,

Ditto, 5") per cent. stock rd. at 10 pm., 104 3
Ditto, 41 per cent. pref., redeemable at 1) pm.. 9
North Eastern, Yolk, H. and Selby purchase, 91
PRP:FP:BENCE 6AAILES AND STOCKS.
London Brighton, &c., 5 per cent. 18 5,
Ditto, No. 7, 5 per cult., :5
LINES LEASED AT FIXED RENTALS.
London and Blackwall, 811
• FORE) (IN RAILWAYS.

Great Luxembourg, 9
Namur and Liege gua. lit. per annum, gi
Namur and Liege, gua. 6 per cent. pt., let
►tioman (Smyrna to Aidinj, 211
South Auffitrian and Lombardo Venetian, 144

FORNION MINES.
Anglo •Brazilian bold, limited, 15-36 ; 1
Uhoutales Uold and Silver Alining, 3
lldn Pedro, Nor it Ilcy, 1 ; pm
lerontino and lioLivia bold. 11m.,
St. John del lley, lim., 111 k

DOCKS.

onclon and St. Katharine, 58
Sum y Commercial, 103

BANKS.

A nzlo- ustrian, 7}
Anglo Fr,yptian, lira., 331
Caartered Lank of India, Australia. and Chfna,
i'hartered 41.er. of India, London, and Onitta, 28
Consolidat,d, Bin., 41
English and diode Janeiro, lint., 8
lioveriai Bank, lira.. 19
lrnperieil Ottoman. Bin., 84
Laiol Mortgage Bank of India, 11m., 1 13-16
London and River Plate.
Ditto, 'salted at 11 pm.,
Ditto, ditto, I'l
London and Uounty, 561 1
Ditto, ne .v, 234
London Joint stuik, 421 3
London iind +1 estmninster, Of. 1l 24 ti
Oriental Bank Corpor ition, Via
Standard of British .Soutti Africa, lint, '3
Unto o Aucitratia, Ir,H a
Union of London, 381 9,

1111.h'CELLANNOUB.
•
Anglo-American Telegraph, 1871 19
Atlantic reiegrapn, t',9 8
Dit o, 8 per (wilt., 961 771
Berlin %linter Works, Inn., 111
City offices, lim., 5 41
Ci-edit r (meter ot 11:41and, Urn . 271
Electric :ail International Telegraph, 1361
Gen. credit and Discount, i im..
Loudon G entral Omnibus Company, lire, 2 15-16
Madras Irrigation and Canal (guarante*d.s per cent. by In.
dian Government). 191
31editerranean'Extensiou Teleeraph, 2 1-16
viscount Company, 12
l'it o, new, issued at 5 pm. 111
North British and Mercantile fnsurance, 13
Ocean Niarine Insurance), it/
Rio de Janeiro City Improvements, 9&
Tele.,:raph Construe. and Mainten., lira.,
Ditto, 1271
Vitxxoy of Egypt, Mortgage, Loan, 7071

,We regret to announce the death of John Shap-
land Stock, Esq., Q. 0., Recorder of Exeter, which took
place yesterday at his residence, 14;o. 7, Upper. Brook-
street.