The Sun.
London, England, 1867-05-09 00:00:00

NONEk

AND
COMMERCIAL tNT ELLIGENCE,

TWELVE O'CLOCK.

No alteration of importance is this morning
apparent in the general discount market. Joint-
stock bankers and bill brokers generally are ask -
lug full terms for all the accommodation desired.
Notwithstanding the occurrence of a few financial
failures credit is well sustained, and there is no
difficulty in obtaining financial assistance on the
securities of respectable firms.
At the meeting held to-day of the National Pro-
vincial Bank of England the 34th annual report of
the directors was presented and adopted. The net
profits for the year, 1866, after making ample
allowance for bad and doubtful debts and 10 per
cent. -bonus to officers, amounted to £283,57.4. The
directors proposed a further bonus of 9 per cent. in
July nev, making, with the former dividend and
bonus already paid, 24 per cent. on the paid-up
capital, free of income-tax, leaving £250,386 in-
vested in Government Securities.
The last week's railway receipts, ascertained up
to this day, are in round figures as under :-
1867. 1866.
... 76,337 74,953
...128,819 121,042
... 27,411 25,841
... 24,111 19,677
... 50,928 ,49,769
... 26,328 22,437
... 40,093 35,730
... 46,200 45,160

Great Western
North Western
South Western
Brighton
Midland
South Eastern
Great Norther*
Lancashire and Yorkshire-
-11r;

..iristol and Exeter... 7;458 6;776
North Eastern ... ... 68,159 71,027
Manchester, Sheffield, and Lincoln ... 20,345 19,819
Great Eastern ... 36,607 31,569
London, Chatham, and Dover ... 11,431 9,681
Metropolitan ••• ••• ••• ••• 4,347 3,946
Midland and Great Western of Ireland ... 5,639 5,489
Glasgow and South-Western ... 11,731 11,326
These returns, when compared with those of the
corresponding period of last year, are in most
instances of an exceedingly favourable character.
On,the Great Western there is an increase of
£1,384; on the North Western, of £7,777; on
the South Western, of £1,600 ; on the Brighton,
of £4,434; on the Midland, of £1,164 ; on the
South-Eastern, of £3,891; on the Great Northern,
of £4,363 ; on the Lancashire and Yorkshire, of
£1,040; and on the Manchester, Sheffield, and
Lincoln, of £526 ; while the North Eastern shows
a decrease of £2,868.
At the Bank of England yesterday there was an
influx of 4,000 sovereigns from Brazil, and an
efflux of £4,000 in American eagles.
At the meeting held to-day of the shareholders of
the Otago and Southland Investment Company a
further dividend at the rate of 12 per cent. per an-
num, free of income-tax, which would be equivalent
to 10 per cent. for the whole year, was agreed to.
It is stated that Mr. Edmond Pullein, late of the
firth of Messrs Harding, Pullein, Whinney, and
Gibbons, and Mr. John Everett, of Allhallows-
chambers, Lombard-street, have entered into part-
nership for the purpose of carrying on business as
accountants, but not in connection with Mr.
Everett's existing business of money broker and
bankers' agent, which will be carried on separately,
as before, under the firm of Everett, Lucas, and
Co. The new firm will be Pullein, Everett, and
Co.

Universal
the thirty-third annual general meeting of the
Lniversal Life Assurance Society held this day,
John Farley Leith, Esq., in the chair, the results
reported were that a profit of £202,973 is declared
to have been realised. Four-fifths are set apart to
Cuter into the average of future annual divisions of
Profit, and the remainder is disposed of by an abate-
Inent of 50 per cent., or one-half, on all premiums
of this year upon participating policies of six years'
standing, and by the division at 30th June of a
bonus of £1 19s. per share (free of income-tax) to
the proprietors, in addition to 10s. for interest at
31st December. The new policies issued by the
Universal Life Assurance Society in the year 1866
Were stated to have been 278 in number, assuring
n06,3[5, at an annual premium of £13,252. The
Policies in force were for £2,621,999, and the accu-
niulated funds of the society were £804,990. Mr.
James Joseph Mackenzie (formerly a partner in the
firth of Dent and Co., of China) was elected a
director in the place of Mr. Ellis IVatkin Cunliffe,
deceased.

The creditors of Overend, Gurney, and Co.
(Limited) are much indebted to the indefatigable
exertions, in Chancery, and in monetary and cotn-
tuercial circles, of Mr. Charles Oppenheim, Old
13read-street. His latest report upon the subject is
the following circular :

OVEILEND, GURNEY, AND CO. (LIMITED).
To the Creditors of Overend, Gurney, and Co. (Limited).
London, May 7, 1867.
Gentlemen,--As many of the creditors may not have
seen the public announcement of the call of £lO per share
Which the Vice-Chancellor Malins has, upon my applica-
tion, directed the liquidators to make, and as I have had
no opportunity of communicating with the creditors since
the meeting of the 15th March last, I think it right now to
state that immediately after that meeting I communica Led
the resolution passed thereat to the liquidator; and, after
R reasonable time had been allowed to elapse, I instructed
Messrs. Ashurst, Morris, and Co., the solicitors conducting
the case on behalf of the creditors, to take the necessary
proceedings to obtain the order of the Vice-Chancellor
upon the subject.

A summons was accordingly issued for the 18th of
April, but on that day the solicitors for the Defence Asso-
ciation appeared, and stated they desired to oppose the
summons, and asked that it might be adjourned to enable
them to file evidence in opposition, and thereupon the
Matter was decided to stand °Tor until the 2nd inst., when
a further adjournment was applied for, upon the ground
that their investigation had not been completed ; but the
creditors' solicitors, under my instructions, pressed for a
tleeision and the summons was accordingly adjourned to
be heard before the Vice-Chancellor in person on the
following day, when, after hearing all parties for a con-
siderable time, he directed the liquidators to make the call
asked for by me, on behalf of the creditors, and that it
should be payable on the 25th of June next.
No fresh statement of affairs has been issued by the
liquidators since their report of February last, but I be-
lieve with the proceeds of the present call there will be
sufficient to pay the larger part of the balances still due to
the creditors by the end of the present year.
The appeals to the House of Lords are still proceeding,
and I have, under the advice of counsel, applied to the
Judicial Committee for leave to appear and argue tho
case by counsel for the creditors in opposition to these
aPPeals, and I expect to obtain such leave within the next
few days, when I shall use every possible effort to get the
'natter disposed of, and also to prevent the liquidation
being impeded by the pendency of such appeals.
I am, yours obediently,
CHARLES OPPENHEIM.
Tho following circular announcing the suspension.
of Messrs. Given,Watts, and Co., of New Orleans;
of Watts, Crane and Co., of New York ; and W.
C. Watts and Co., of Liverpool, has been issued:—

"Brown's-buildings, Liverpool, May 8.
"Gentlemen,—We regret to state that we have been in-
formed by telegram by Messrs. Watts, Crane, and Co., of
""' York, that in consequence of a lock up of capital
caused by the recent inundations of a large portion of
the sugar and cotton lands of Louisiana and Mississippi,
sy, as also Messrs. Given, Watts, and Co., of New Or-
`eans, have been compelled to suspend payment.
" We have every reason to believe that this embarrass-
"lent will be but temporary, but in the meantime we con-
eider it our duty to the creditors of the independent firm
of Messrs. W. C. Watts and Co. that we should also
suspend payment.
BWe call confidently state that the means of W. C.
atts and Co. are ample to meet all its indebtedness,
d
to enable us in a short time to resume business.
" In the meantime we are having an accurate statement
Of our affairs drawn. p, which we will in a few days sub-
ntit to the inspection of our creditors.
" We are, gentlemen, your obedient seevants,
" W. C. WATTS AND CO."
The advance in American securities on the Lon-
"o4 market, reported last week, has not been main-
tained
owing to the rise in the premium on gold
New' York (31 per cent.) as advised by telegraph.
7:ited States 5.20's have ranged between 71 and
tis'' Closing 71i to Illinois Central and Erie
vuares have not maintained the recent rapid ad-
ance, being last quoted 741 to 75i, or 1 per cent.
.ielwer, and the latter 40} to 414-, nearly 3 per cent.
leder the price of last week.
Atlantic and Great Western Debentures and
15.,c'esolidated Bonds are steady, but the Sectional
ends have slightly given way.

Two O'CLOCK.
There has been rather more activity in the
marketti for the English Funds, consequent upon the
t„..• c)re Peaceful aspect of political affairs on the Con-
ellt and a partial rev.val of trade, owing to the