The Sun.
London, England, 1867-08-12 00:00:00

ONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.
We have no alteration to report in the condition
of the general market for loans and discounts
Operations are confined to immediate demands, and
as trade, though good, is quiet, the supply of mer-
cantile bills is comparatively small. At the Bank
the inquiry at 2 per cent. and upwards according
to quality is extremely limited, and a further accu-
mulation of notes and gold would appear to be
inevitable. The specie movement, notwithstanding
the last week's movements, is on the whole good.
England is able to take the superabundant supplies
of corn and cotton from the United States, and such
produce must lessen the metallic shipments in pay-
ment of interest in greenbacks and other American
securities. Australia is sending in all her riches in
the shape of gold in bullion, and the West Indies
besides is contributing to our accumulation of gold
and silver. There is, under such circumstances,
reason to believe that the rates of discount will con-
tinue low. But it will be of benefit to the country
if higher rates prevailed for loans and discounts if
resulting from extended trade and the confident
promotion of associative enterprise. There is an
abundance of floating capital available for every
legitimate purpose ; but investors are shy ; and it
only requires a start, well supported, to initiate a
mania—the reverse of the panic in May, 1866.
With regard to this subject it may be observed that
mining enterprise is likely to come into fashion,
especially in relation to Cornwall, Devon, South
America, California, and Australia.
The report of the Natal Land and Colonisation
Company has just been issued. The balance on
the 31st December last was £8,804 ; a dividend
paid at the rate of 2s. 6d. per share reduced this
amount to £4,166, and the directors now recom-
mend a further distribution of 2s. per share,
making a total dividend of 4i per cent. for the
year, leaving a balance of £455 to be carried
forward. The assets of the company amount to
£420,778, and the liabilities to £187,534. A resolu-
tion will be submitted to the meeting on the 16th
inst. to raise £250,000 on debentures.
At the meeting held to-day of the Working
Mining Company the report and accounts were
presented, which stated that for the year ending
June 30 the directors congratulated the share-
holders that, notwithstanding the low price of
copper, they have during that period paid all ex

penses of working, &c. At the last annual meeting
they were indebted to their bankers in London
£1,242. After payment of this account there was
a cash balance in favour of the Company on the
30th June of £612. The total receipts from all
sources, including cash and bills in hand, have
been £20,582, and the total expenditure for
working expenses has been £19,972, leaving a
balance of cash in hand in London and in the
Colony of £609. By the May advices the re-
serves were estimated to be in excess of the out-
standing last year, and the Committee are sanguine
that, commencing the year with a clear balance
sheet, the result will be satisfactory to the share-
holders.

From the manufacturing districts the accounts
state that during the past week there has been
rather more activity in several departments of trade.
At Manchester, owing to the large imports of cotton,
most kinds were a shade cheaper. In cloths and
yarns buyers operated to a moderate extent, the
demand being chiefly for descriptions suitable to
the Indian markets. For home requirements, how-
ever, there has only been a limited demand. In
the woollen trade of Leeds, Bradford, and Hudders-
field there has been rather more animation,
there having been a moderate inquiry for winter
fabrics for the Canadian and German markets,
although the demand from the home trade as yet
remains inactive. The hosiery and lace trades of
Leicester and Nottingham have shown some slight
improvement, and few orders have been received
from France, the United States, and Canada. In
the hardware districts there has been a more cheer-
ful tone. At Birmingham, Sheffield, and Wolver-
hampton a more cheerful tone has prevailed, a few
more orders have been received on Continental ac-
count, and the demand for railway iron for India
and Russia continues to keep the operations in full
employment.

There were no gold operations at the Bank of
England, on Saturday.
The Deutschland has arrived from New York,
With £13,000.
Atlantic and Great Western Railway Deben-
tures remain steady, at 24 26 ; and the Consolidated
iliortc, ODBonds, at 24 22k.

Two o'CLocK.
The extraordinary favourable weather for all
agricultural purposes, the settled position of home
and foreign politics, and the indications manifested
:„tl many departments of trade are quietly promot-
st"g the value of Consols, New Threes, and Reduced
0 their proper value in relation to the discountable
forloanable value of money. Consols are 941 2
-tor
may, and 942 1 for the account.
11 Lyle New Threes are 941 41 ; Reduced An-
, 94} ; Bank of England Stock, 262 60 ;
An-
and lndia 5 per Cents, 1880, 113 121.
de There is still an upward tendency in the Foreign
Partment of the Stock Exchange. Italian have
ae4lraneed 1, to 481 1 ; ,Spanish Passive k, to 21} 1;
Tertifleates k, to 161 1 ; Greek 1, to 131 14
Orkish 5 per Cents. I, to 311 I ; but Chilian
—44) has declined I, to 1/ 14 die.
I3American Securities are steady. Erie shares are
461; Illinois, 77 78 ; and United States
_5-20
04(18, 73i
I.
4k
fair amount of business bas been transacted
bathe Railway Share Market, and prices generally
shown a further slight improvement. Groat
Iff,etrn. have advanced 1 ; Great Northern, Great
4,-B„'ern, Lancashire and Yorkshire, and South-
ACet7rn each ; North-Eastern, Berwick, 4 ;
.011, °Politan and Midland each 1; and Brigh-
-0,41: ()reign and Colonial lines exhibit little
kart -v
°f importance. Great Luxembourg are
Anatr-.' I Ci; Recipe and San Francisco, 9}; South
tern and Lombardo-Venetian, 141; Great Wes-
and r?' Canada, 151 ; East Indian, 109 1091 ;
13:Treat Indian Peninsula, 1072
tiO4. Shares are dull and without much varia-
liboilisteellaneous
and Finance Shares continue at
Cent
us
8* are at 75 Prev values. Atlantic Telegraph 8 per

MINING MARKET.
thk d MONDAY AFTERNOON.
° Berate
tvz ratt,k_, amount of business has been done in
()ed areu!, to-day, and prices are steady. An-
qloverto4 `ll° current quotations :-
11(tIttaa Roor,
oree %la ....... 41 t
5
a4algarn.;:ie.
tttatara
peato
L
.......... 41 51
Vkt eaeli .......... 6 f 7
.......... 1 11
kF•tr kirle ....... 16 17
4°lll vor . . 1611 471
0ft..........
....... 3i 3*

North Treskerby ll
Prince of Wales 55s 6d 57s 6d
Providence Mines 25 27
South Condurrow... lls 13s
Tincroft —
West Chiverton 64 66
West Seton l4O 150
Wheal Basset ......
Wheal Buller —
Wheal Chiverton 6l 7
Wheal Grenville lOs 15s Od
Wheal Seton

„,,, isn. PIINDS—CLOSING PRICES.
Iler riziNtt . ~... rs (jt. s Nl. r CND&
a ,•0, 41'• consols
941 I i 5 4f
tet,,,rre/iet.ll-inetSe. 10
blv Pero„aced 941 1 f i
94f
4 0. Ce,„, ..............
ko par 0 •LL- Jan. 1894 —
t.s.lties, 3,, out. Jan. 1873 — 1:', to e,
3ou Yrs, expire sth Jan., 1880 (11-ed t Yrs,Lexpire sth April 1885 —
tiet, '34 Telet,raph), A 1,,., 1908
Ntto
Do r 1311181 £1 Marcn.
Do'
BahuDo.
£5OO ...... .
/30. f to £lOO & £2OO _pm
tSlarld Stock 51 per Cent „, 262 60
/ . lk ,nt
too,. 1614_ .................................
Dto 13 tock7 UOVERNMENT SECURITIES.
bk): gleeOutiltCli Per Cent., April 1874 —
o. I,"r
I, .......... .. .
13 I Pe.-: s'N't* ‘lOl3, ISBO 113 121
00 . Pout. ,-,
~ ,
DDo ~ rtiheat ' `-'”- 1858 ..............
-6 o eqr,,,,,_, ,S
D.O Per .raPer 4 per Cent
°' 6 °at J 1872 10' 2'
.). tj Per 00 ' an-
41,t, ot., May 1879

June.
pm
28 pm
pm