The Sun.
London, England, 1867-11-11 00:00:00

lIIONEY MARKET

AND

COMMERCIAL INTELLIGENCI,

TWELVE O'CLOCK.
In the general Discount Market there is no
material change to record ; the inquiry for accom-
rnodation, however, is rather more active owing to
the approaching settlement in Railway Stocks and
Bank and Miscellaneous Shares.
The Sir John Lawrence, from Australia, has ar-
rived With gold representing £251,000 ; and the
Persia, from New York, with £17,520.
A prospectus has been issued for a loan of
£1,000,000 for the llonduras Government Rail-
way Loan, to be issued in bonds to bearer of £lOO,
£5OO, and £l,OOO each at 80 per cent., with
an annual interest of 10 per cent. Redemption at
par in sterling within 17 years by yearly drawings
by means of an accumulative sinking fund of 3
Per cent., and the first drawing will take 'lace on
t.he 31st December, 1869. Payments to be made as
on application; 110 oa allotment ; £lO
January 1, 1868 ; £l5 on July 1, 1868 ; £2O
en January 1, 1869 ; and £2O on April 1, 1869.
The Government of Honduras having agreed to
appropriate to the subscribers a moiety of the net
profits of the railway during 15 years after the com-
plete repayment of the present loan, subscribers
will receive, as bonus, within one month after allot-
Ment, with each £lOO bond, one 10,000 th deferred
fully paid-up railway share to bearer, entitling the
holder thereof to receive his proportion of such net
profits. When the proposed road shall have been
completed, her Britannic Majesty equally engages,
in conjunction with the Republic of Honduras,
to protect the same from interruption, seizure,
or unjust confiscation, from whatsover quarter
the attempt may proceed. Treaties signed by
the Honduras Government with France and the
United States contain the same provisions, and the
French Government, considering the public utility
of the Honduras Railway, has promised the official
quotation of the Honduras Loan on the Paris Bourse.
Applications for the loan will be received from
Monday, 11th, to Friday, the 15th instant, by the
London and County Bank, Lombard-street, and in
Paris by Messrs. Bisehoffsheim and Goldschmidt. As
the Panama Railway has paid a dividend of 24
Per cent, in addition to a bonus of 40 per cent. on
a capital of £1,600,000 last year, and the shares
are
now worth three times the amount paid, there
18 every probability that when the line of railway
.
completed it will yield equally as much profit.
The line is to ba constructed for £B,OOO per mile,
and a contract has been concluded to that effect.
Calculating all the advantages offered in the
prospectus, the loan will pay to the investors 14}
per
cent. At the Stock Exchange the loan has
been Well received, and is quoted 2 to 2i premium.
At a meeting held to-day of the Trust and
Agency Company of Australasia, an ad interim
dividend at the rate of 10 per cent. per annum was
declared.

At Teeside and Cleveland the demand for pig
iron continues about the same as it has been for the
'4Bt month or two. Stocks are still decreasing, and
within the last four weeks they have, it is stated,
Ilessened in makers' hands to something like 6,000
°llB. The warrant stores also show a decrease.
"Prices are not so firm.
A. circular has been issued to the holders of
Spanish Certificates reminding them of the resolu-
tion Passed on the 25th September authorising the
trustees
of the counterfoils, Baron Rothschild
and Mr. Capel, to make arrangements for obtain-
ing for the committee a sum to repay the loans
raised
by virtue of the resolution in 1856, for de-
fraying the expenses of the conversion, and for re-
munerating the services of the committee and others.
In accordance with the wish of the holders, the
trustees
have agreed to recommend that each certi-
ficate holder shall subscribe ss. per £lOO of every
be after conversion, and that the amount
ue paid to the London and County Bank.
In the Corn Market to-day there was only a
moderate attendance, and business continued in-
active, sales on home grown and foreign wheat
being difficult to effect, except at a decline of is. to
3s. per quarter on previous rates.
Atlantic and Great Western Railway Debentures
have declined to 24i 25k, and the Consolidated
Mortgage Bonds to 19i 20.
There has been very little improvement in the
state of trade in the manufacturing districts during
the past week. At Manchester prices continued
depressed until near the close, when the more
vaeirm news from the Continent caused rather
more activity, and a slight advance in values.
1,,1L the woollen districts of Leeds, Bradford,
-"`L Huddersfield there has been a fair
-eillaud for tweeds and spring goods generally,
but
dulness has prevailed in most of the other de-
partments. At Leicester and Nottingham there
has been a moderate demand for useful hosiery
goods,rativess, but foreign orders have been scarce, and the
generally are only working about two-
thirds time. In the hardware districts of Birming-
'' Sheffield, and Wolverhampton quietude has
gevailed, and trade, as a rule, is exceedingly dull ;
Midland Railway, however, has given out a
contract for 2,000 tons of rails.
eVith regard to the tea market, the annexed is an
circular
from Messrs. W., J., and H. Thompson's
elllar :—" The market has been generally quiet
„r
ar'ng the last fortnight, the only exception being
li:risk demand for the new Souchongs, of fine qua-
,,_y) ex Argonaut ; and these have sold at full rates,
icarrtly,
ersving to the scarcity of fine Kaisows. The
il.lveries for the last month amounted to 13,660,000
ailciThe China auction, which commenced on the sth
~.enncluded on the 7th instant, comprised 18,409
sai'ages, nearly all being without reserve.' The
a," passed with good spirit, but we cannot quote
Material alteration in prices. An Indian sale is
ertised for the 11th inst. (to.day), so far 2,776
shoek ages are printed. Prices for Congous do not
to any material alteration, but Oolongs, scented
and Canton gunpowders may be quoted ld.
per
h lb. lower. Souchongs of fine and finest grades
eve
opened at very full rates."

Two o'CLocK.
d According to Reuter's Telegram from Paris this
Z' the French Three per Cent. Rentea were at
"'" 05c. Flat
trirrhe adjourned meeting of the holders of the
,-,11" and Coupons of the Greek Loans of 1824 and
;745 will be held at the London Tavern, on Wed-
4esday, the 13th inst., at one p.m.
r; I•RailwaY shares to-day have been very dull and
ightl
n 4, Y depressed, despite the recent improvement.
ell
traffic returns. The market is no doubt
.in-
Itilvestors in
i elle‘d- by " Bear" operations, the public not being
this class of property at present.
ar°?linds are tolerably steady, and here again there
' but few transactions. 'Though the advices from
the___ Continent are more pacific in tone, they fail to
Itt'br°raote
and
ng
active speculation for a rise. Amidst the.
d 44clanee of money and other favourable const-
tierations, the operators for a decline are equally
to commit themselves to any great extent,
mod Consols, therefore, are steady at 941 i for
e IleY, and at 93 for:the account, sth December,
t dividend.
91h.7e New Threes and Reduced Annuities were
2-1,4 IT; Exchequer Bills, 295. prem. ; Bank Stock,
Per
cent...,
; India 5 per Cents., 114/ 11i ; Enfaced 5i
The s 1081 ; and ditto Bonds,
de Foreign Market has 58s. 575. prem.
exhibited a slight
45g.tree of weakness. Italian have declined i, to
i 4tA; ohexican I, to 14/ 15 ; Turkish 5 per Cents.
Greek"" .1i Spanish Certificates i, to 17i I ;
remain at 12 i ; and Spanish Pssive at
"a
i . The New Honduras Rail way Loan
is 1i 2f
Premium.
°eta the Railway Share Market the near approach
~,.. the settlement has caused a heavy tone, and
t,i.rices generally show a downward movement. Great
l'astern have declined 1 ; Lancashire and Yorkshire,
i
vri,Midiond, .i- ; Caledonian, North Eastern (Ber-
A) and South Eastern each i ; and North
Western, i.
Z_ . The Foreign and Colonial lines remain inactive,
about previous values. Great Luxembourg are
aal4cl 913-16 ; Ottoraan, 3i ; Great Wegtern, of