The Sun.
London, England, 1867-07-15 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

We have no change to report in the market for
discounts. There is plenty of money, and the
last commercial bills are negotiable as low as 1i per
Cent. It consequently follows that the inquiries at
the Bank are very limited, and that in all proba-
bility the minimum will be reduced to 2 per cent.
Such a movement will not be of much benefit to
trade, because it is increased trade rather than
easier money which is desirable. The weather
is satisfactory, and the light rains of this morning
will so far, at present, conduce to the benefit of the
harvest. From all parts the agricultural accounts
are splendid, and there is reason to believe that the
country will not be compelled to spend the average
for foreign cereals. This, of course, would be in
favour of easy rates of discount, especially as there
are for the moment no enterprises calculated to
take our money away.
At the meeting held to-day of the New Consoli-
dated Discount Company a dividend of 2s. per
share (free of Income-tax) was agreed to.
The accounts from the manufacturing districts
for the past week are of a less satisfactory character
than of late. At Manchester prices of cloths and
yarns have further declined, while in the woollen
districts of Leeds, Bradford, and Huddersfield the
dealings have only been to a moderate extent and
for immediate home demand. The hosiery and lace
departments of Leicester and Nottingham, however,
have shown a decided improvement, consequent
upon orders from the American markets, while in
the hardware districts of Birmingham, Sheffield, and
Wolverhampton there has been little change of im-
portance ; future prospects, however, aro looked
upon as being more satisfactory.
At the Bank of England on Saturday there were
no gold operations of importance.
The West Indian Mail Packet Tasmania has
arrived with £194,996 in specie ; and the Palmyra
from New York has brought £71,000.
Atlantic and Great Western Railway Debentures
have advanced 1 to 29 31, and the Consolidated
Mortgage Bonds i to 23f 24.
The result of the poll of the London, Brighton,
and South Coast Railway Company was declared
at a special meeting held this day, when it was
found that the directors' proposal to amalgamate
with the South Eastern was carried by a large
Majority.

Two o'CLoCK.
Early this morning Consols receded 1 per cent.,
but since a full recovery has taken place and the
market appears buoyant. The dealers appear to
be doing their utmost to keep values down, but
their efforts in the main are futile. Government
Stock is required not only on account of investors
but by speculators likewise, the latter buying for-
ward because there is every promise of a further
118 c. Consols are 941 for money, and 944 if for
the account.
The New Threes and Reduced Annuities are
934, 91 ; New 2f per Cents., 77 ; and India 5 per
Cents., 1111 1.
There is very little business being transacted in the
Foreign. Department, the dealers being principally
engaged in the settlement. Spanish Passive show
decline of to 21 ; Turkish 5 per Cents. 1, to
34 1 ; but Chilian Scrip has advanced to 1 1
premium. Italian are unchanged at 491 ;
can, at 16i j; Spanish Certificates, at 15f 4 ;
(.1-reek, at 141 4 ; and Russian Scrip, at 1 prem..
A very limited amount of business has been trans-
acted in the Railway Share Market, the dealers
and speculators having been chiefly engaged with
the settlement. Great Eastern and Midland have
each declined 1 ; while Brighton have improved ;
South Eastern 1 ; and Metropolitan.
Bank Shares remain inactive. London and
County New Shares, however, have improved to
221; Chartered Mercantile of India, London and
China remain at 271 ; and English, Scottish, and
Australian Chartered at 17 171.
Miscellaneous and Finance Shares arc exceedingly
dal], and the few dealings entered into have caused
no material change in value. Anglo-American
Telegraph are marked 181, Telegraph Construction
and Maintenance 16f, Peninsular and Oriental
Steam New Shares 41 411, Hudson's Bay Company
15, and Scottish Australian Investment 123.
The Foreign and Colonial lines are inactive, and
Without change of importance. Great Luxemburg
are dealt in at 101 ; East Indian, at 1071 108 ;
I_Great Indian Peninsula, at 1061 1071 ; and Bom-
bay and Baroda, at 1001.
, American Securities have been inactive. Illinois
shares remain at 801 ; Erie shares, at 451 46 ; but
United States 5-20 Bonds have declined 1, to 73 1.