The Sun.
London, England, 1867-08-13 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

No essential alteration is apparent to-day in the
general condition of the money market. There is
still a steady and growing demand for commercial
purposes, and agricultural requirements, now that
the harvest has set in with some activity, are
expected to create a little more activity in monetary
circles. heavy settlements arc impending at the
Stock Exchange, owing to the recent operations in
Console, the New Threes, and other descriptions of
Government securities. Day by day large
quantities of stock are withdrawn on account of
investors, who find it inexpedient to seek for
greater interest and for better security in
other quarters. The funds are advancing,
besiles, all things considered, they are
worth more than the figure at which they are quoted.
There upward tendency is also communicated by
the scarcity of stock, and the erroneous views of
the speculators for a decline, the operations of whom
have committed themselves so heavily that two
jobbers on the house have this morning been forced
to declare themselves unable to provide for their
liabilities. It would not create surprise if further
disasters immediately followed, so wild have been
the attempts made by excessive sales to depreciate
values, in spite of numerous circumstances promis-
ing much greater prosperity in the general condition
of the country. With the assurances of the 3loniteur
with regard to Prussia, and the progress of
the Reform Bill, together with more settled advices
from New York, politics at home and abroad have
now become as favourable as could be expected.
As in the Cousol department, so in the markets for
foreign banks, railway shares, and in the various
miscellaneous descriptions, heavy 'oases have been
incurred by recent dealing, the fluctuation having
been considerable during the last fortnight. In
many of the railway shares the movement has
ranged from 5 to 10 per cent., and suspensions are
therefore likely to -ensue, notwithstanding the
plethora of money, and the consequent easy terms
upon which accommodation can be obtained.
There were no gold operations at the Bank of
England yesterday.
Atlantic and Great Western Railway Deben-
tures remain steady, at 24 26 ; and the Consolidated
Mortgage Bonds, at 24 22i.
At the meeting held to-day of the London and
Blackwall Railway Company, the directors reported
that the rent for the half-year ending 30th June
last had been received, and that a dividend for that
period, at the rate of £4 10s. per annum, should be
declared, payable on the 14th instant.
The traffic returns on the Melbourne and Hob-
son's Bay United Railway, for the week ending
30th May last, was £1,633 against £2,103 in the
corresponding week in 1866 ; week ending 6th
June, £3,083 against £3,749 ; week ending 13th
June, £1,742 against £2,073 ; and for the week
ending 20th June, £1,897 against £2,353 in the
corresponding week of 1866.
At the meeting held to-day of the London and
South Western Bank the report of the directors for
the half-year ending 30th June last, was presented.
The directors recommended that a dividend be de-
clared at the rate of 5 per cont. per annum, free of
income-tax, and that the balance of £BBl, includ-
ing £516 rebate on bills not due, be carried to
profit and loss new account.
In the Foreign and Colonial Produce Markets
during the last few days there has again been very
little business entered into. Sugar, however, has in
most instances maintained former rates. In China
tea the dealings have been unimportant, but sales of
Indian produce, to the extent of about 10,000 pack-
ages, are'announced. Rice ',has continued to sup-
port full rates, as also superior qualities of coffee,
cocoa, and spices. In tallow there has been very
little variation as regards quotations for either
present or forward delivery.

Two o'CLocK.

According to Reuter's telegram from Paris to-
day, the French Rentes were 61f. 82c. Very
firm.

The improvement in the English Funds has con-
tinued, but the advance is only 3-16th, though all
the markets are firm, with an upward tendency,
especially Consols, which are 94/ 95 for money,
and 95 4 for the account.
The New Threes are 94/ ;95 ; Reduced An-
nuities, 94; ; Bank of England Stock, 262-3-1 ;
India do., 2204 ; do. 5 per Cents., 1134 12; 13 ;
do. 4 per Cents., 100 99 ; do. Enfaced 5 per Cents.,
103- ; do. 51 per Cents., 107; ; do. 5 per Cent.
Rupee Debentures, 1877, 1024 ; do., 1882, 102; ;
and do., August, 1873, 105.
The Government broker has this morning com-
menced his purchases for the Sinking Fund, by
buying an amount of £15,000.
The Foreign and Colonial lines show little
°bang° of importance. Great Luxembourg are
dealt in at 10; ; North Austria and Lombardo-
Venetian, 15/ ; Grand Trunk of Canada at 174 ;
Great Western of Canada, 15f I ; East Indian,
108; 109 f ; and Great Indian Peninsula, 108 1081.
The dealings in the Railway Share Market have
been to a fair extent, but in a few instances prices
have shown less firmness. Great Northern have
declined 2 ; Brighton and Metropolitan each 1;
South-Eastern ; ; and London, Chatham, and
Dover, 1; while Great Eastern and Lancashire and
Yorkshire have each improved 4.
Foreign stocks generally are very firm. Turkish
5 per Cents. are higher, at 31/ 324 ; Greek 1, at
13} 14 ; Spanish Passive 4, at 211 4 ; Certificates
1, at 161 4 ; Italian 4, at 49 4 ; but Mexican have
declined 4, to 141 1 ; and Chilian Scrip 4, to 2 1
dis,

American Securities are depressed. Erics have
declined 4, to 46 4, and United States Government
5'20 Bonds a, to 76 4 ; and Illinois are steady at
774 78.
Bank Shares are dull, but at steady values.
London and Westminster have improved to 93 944;
Imperial Ottoman to 84 4 ; London Chartered of
Australia have declined to 234, and Union of Lon-
don to 384.
Miscellaneous and Finance Shares remain at
about former values. Atlantic Telegraph 8 per
iVents. being marked 724 ; Credit Fonder of Eng-
jad, 34 ; Hudson's Bay Company, 154 ;
Na-
nal Discount Company, 114 f ; Peninsular and
vriental Steam, 49 ; and Royal Mail Steam, 87.