The Sun.
London, England, 1867-10-18 00:00:00

MONEY MARKET

A ND

COMMERCIAL INTELLIGSNCE,

TWELVE O'CLOCK

The demand in the General Discount Market
continues very restricted, notwithstanding the large
withdrawals of bullion from the Bank and un-
favourable character of the continental advices. In
some of the manufacturing districts there has been
slight symptoms of an improvement in several
branches of business ; the rates current for the
egociation of first-class commercial paper remain-
ing at from 11 to 12 per cent.
The Java has arrived from New York with
£2,800 in specie.

The return from the Bauk of England for the
week ending the IGth Oct. gives the following re-
sults when compared with the previous week :
nest ... £3,065,233 Decrease #609,767
Public deposits 4,456,587 ... Decrease 3,100,855
Other deposits 20,432,737 ... Increase 2,129,937
On the other side of the account :
Govornment securities £12,891,203 ... Decrease £3,669
Other securities 16,951,047 .., Decrease 213,150
Notes unemployed ... 12,140,675 Decrease 1,321,300
The amount of notes in circulation is £24,993,745,
being an increase of £466,710 ; and the stock of
bullion in both departments is £23,261,362, showing
a decrease of £847,672 when compared with the
preceding return.
Subjoined is a comparison of the present position
of the Bank of England and the price of Consols
with the corresponding week of last year :

Same week
last year.
Bank Wile/1 ••• ... 423,261,362 ... 416,133,363
Notes in reserve... ... 13,267,617 7,046,828
Notes in oirculation ... 24,993,745 24,086,535
Rate of discount... ... 2 per cent. ... 41 per cent.
Price of Conscls... 931 ••• 89}
The return of the Bank of France for the past
week, when compared with the previous statement,
shows the following changes :—An increase in the
bills discounted of £740,000 ; in the current ac-
counts of £400,000 ; notes, £253,000 ; Treasury
balances, £20,000; and in the advances of £B,OOO.
A decrease has taken place in the cash of £168,000.
Grain operations have no doubt had much to do
with some of the alterations exhibited.
From Lisbon the telegraphic news respecting
the war in South America fully bears out the latest
accounts received by the English mail. The Bra-
zilian fleet is hemmed in between Humaita and
Curupaity, and would appear to be at the mercy
of the Paraguayans, who had greatly strengthened
Curupaity after the fleet had passed. The army
is entirely isolated from the fleet, and is fortifying
itself at Tuju-cue to resist, if possible, an attack
from Lopez. Caxias and General Mitre had dis-
agreed, throwing the blame on each other. Cholera
has reappeared among the allies.
Afurther sum of £117,000 in gold was withdrawn
from the Bank of England yesterday. With regard
to the bullion market, Messrs. Pixley, Abell, and
Langley, state as follows in their weekly circular:—
.`` We have but two arrivals of gold to report,
the Tasmanian, from the West Indies, with
£90,000, and the Bremen, from New York,
with £4,000. These amounts have proved quite
inadequate to the demand, and £579,000 have been
withdrawn from the Bank since our circular of the
10th inst. Further sums will be taken unless some
of the vessels, now on the way- from Australia,
should soon arrive. The ships now coming with
gold are :—From Melbourne : Gala, with
£47,000 ; Blackwell, £182,000 ; Great Bri-
tain, £439,000 ; Wave of Life, £100,000;
Sussex, £129,000. From Sydney : Sir John Law-
rence, £251,000. Making a total of £1,148,000,
of which about £668,000 may be considered as
nearly due. The market for silver, under the in-
fluence of purchasers for the Continent, has been
more lively, and prices have improved id. per oz.
The Tasmanian brought about £120,000 from the
West Indies, and the Bremen £25,000, Dore, from
New York. Mexican dollars have also improved
in price, and about £50,000, brought by the Tas-
manian, Fire Queen, and La France, have been sold
at 59kd. per oz. The purchases have been chiefly
for the Continent and refining purposes, the only
shipment to the East consisting of £10,500 to
Shanghae.
Advises from Berlin, dated 15th instant, state
that the Bourse opened very flat, and the antici-
pated French intervention in Italy acted unfavour-
ably on all public securities. At the close Italian
rtentes and American Bonds became rather firmer.
NO activity prevailed in Russian and Austrian
Funds, the latter were much depressed and freely
offered.
At Frankfort, 15th instant, the Exchange opened
fiat, but somewhat improved towards the close.
~
half-monthly liquidation is expected to pass
°ver easily, as there is no scarcity of the various
stocks.
At the Paris Bourse yesterday there was much
agitation, the speculations being mostly for the fall,
and sellers did not even secure themselves by-pre-
-11141, so sure were they of covering themselves ad-
04tageously in a few days. Every one is so much
ahceuPled with the political situation that the balance
eo"t of the Bank is scarcely noticed, though it
rlbtalas some interesting features.
eesPecting the corn trade at Birmingham Mr. W.
Cave states as follows, under date of the 17th :
With the exception of yesterday the weather
wring the week has continued showery and foggy.
heat trade at all the markets held up to Monday
elusive were in an excited state, and holders found
a° difficulty in realising a further considerable
advance, say 3s. to 4s. per qr.; and our millers were
a°llr • lcPelled to protect themselves by again raising the
w 38. 4d. per sack. Tuesday and yesterday there
as a general inclination to pause and realise. I repeat
that the cause of the late advance was brought
e • °tit by a sadly deficient harvest—generally
11?ected to have been an abundant one—and by
the general exhaustion of old wheat throughout the
te'untrY• Foreign arrivals are now more liberal,
.eaapted by our high prices; farmers' deliveries also
gte increasing. At this day's market there was a
tg,°cd supply of wheat, but millers generally being
ullY buyers there was a dull trade at last week's
I'l-ices—reds making 695. to 735., and white 78s. to
holders
all per qr. of 4961b5. Foreign wheat neglected,
qolders being unwilling to sell at late rates.
The following remarks upon the Manchester
(qaerikieets are from the circular of Messrs. Alexander
oi
and Co.
"During the first half of the fortnight this mar-
;t continued in the depressed condition we re-
ere ted at the close of our last circular, yet the
1434 n) although devoid of animation, and
1
spee.°f an extensive character for any article
of 41137) was sufficient to:prevent an accumulation
te,o:t°ek, or an extended resort to the short-time
i 4 acillellt• Much of the distrust felt originated
again prevalent rumour that a Continental war
theuld not be longer deferred ; but, fortunately,
teeild:fferent Governments interested have made
the ,:ovrals as have removed apprehensions from
mind on this score, at least for the pre-
at.
by. this
trifling measure of confidence imparted
fer assurance, and the generally active demand
g°°clB hamil India, leaving for many descriptions
eft °llie margin on current rates here, had the
set g
Liver 04 arresting the wavering tone of the
ia i'creas °°l market, in which there has since been
~
tra
u steadiness and pretty. large daily
t,„ise -Btteat
mons, partly on speculators' account. The
advas,lol' iuiddling American does not, however,
lest eased beyond 80., as buyers with a lively recol-
e
44444 `-'1 Past losses sustained on goods bought for
only 0 markets and for protracted delivery will
40_
experate in ready parcels. The chief demand
hii(7 fists for the better qualities of China shirtings,
th.- e are "erately so for jacconets and mulls, and as
Paid f scarce relatively higher prices are being
or them than for other classes."
the Foreign and Colonial Produce Market,
pre," tast few days, rather less animation has
Aareie _he l
, although prices generally remained firm,
acts lady for sugar, coffee, and rice. The trans-
bee 'l3B on the late arrivals of new season's tea have
ll to
as k a fair extent at steady rates, while there
tati been rather more inquiry for tallow, and quo-
-0118 show an upward tendency. Alla •
latic and Great Western Railway Debentures

At present.

are steady at 24 26, but the Consolidated Mortgage
Bonds have declined i, to 20 21.

Two O'CLOCK.
According to Renter's telegram this morning,
the French Rentes were 66f. 92f. Better.
The market for the English Funds opened this
morning with an uncertain appearance, but yester-
day afternoon it was evident that the " Bears"
were realising their profits. The purchases neces-
sary for this purpose have been resumed to-day,
and the result, as usual, has been a slight reaction.
In consequence, Consols are now per cent. higher
than the quotations of last evening, as they arc
now, 93i / for transfer and account. A little more
confidence has also been produced by the fact that the
French Rentes, per telegram just received, arc a
few centimes higher, and that Italian Stock, after
its recent depreciation, is a little firmer. Much
attention has been paid in the Ilousc to the logical
and lucid remarks made by the Premier at Man-
chester. Ills remarks, especially with reference to
strikes and the co-operative system, have led to
much conversation, and his lordship's politico-
economical views are regarded with great satis-
faction.

The New Threes are 911 92 91i ; Reduced An-
nuities, 911 92 ; Exchequer Bills, 265. to 30s.
prem. ; India 5 per Cents., 1131 114 f ; do. 4 per
Cents., 991 1004 ; Enfaced do. 88f ; do. 5 per
Cents., 1041 ; do. 5f per Cents., 1094 ; and do.
Bonds, 655. to 635. prem.

In the Foreign Stock Market there is very little
alteration, but prices have an upward tendency.
Greek have advanced to 111 121 ; and Turkish
5 per Cents. to 31 31} ; Italian remain steady at
43i ; Mexican, 141 15 ; Spanish Passive, 181 19 ;
and Certificates, 161 f.
In tho market for American Securities Erie Shares
have declined I, 45 451 ; Illinois, 1, to 771 ;
whilst United States 5-20 Bonds have advanced
to 68i

Heaviness has again prevailed in the Railway
Share Market, Caledonian, owing to sales, having
declined 2i. Metropolitan have receded ;
Brighton f ; and Great Eastern, Great Western, and
London, Chatham, and Dover each ; while North
Western and Midland have each improved
The Foreign and Colonial lines show little varia-
tion. Sambre and Meuse are marked 1; South
Austrian and Lombardo-Venetian have declined
to 13f ; East Indian to 110 ; Great Western of
Canada to 15/ ; and Grand Trunk of Canada to
17g.

Bank Shares are inactive, at about previous rates.
Chartered Mercantile of India, London, and China
are marked 25f , London Chartered of Australia
24, London and Westminster 70f, and Union of
London 38.

Miscellaneous and finance shares are fiat. Royal
Mail Steam have declined to 84, National
.Discount
Company to 11, Credit Fonder of England to 3 ;
while City of Moscow Gas remain steady, at 12i. 13.
The traffic returns of the East India Railway
for the week ending the 25th August amount to
£25,723 against £30,622 12s. 10d. in the Correspond-
ing period of last year, showing a decrease of
£4,899 12s. 10d.

' MLNING MARKET.
THURSDAY, Two P.M.
Business has remained very quiet, and little
variation can be reported in values. The following
are some of the latest quotations :
Chiverton Moor 4f 5 North Troskerby 32s 31s Od
Chontales Gold
Clifford Amalgamate 7 74 Providence Mines...
East Basset 124 15 South Caradon
East Caradon 6 6f South Frances ...... 33 35
East Lovell 8; 4 Tincroft l2 13
East Whoal Grenville 2 241 West Chiverton ... 634 65
Great Laxey 174 14 Wheal Basset ..... 824 874
Great Retallick
Groat Wheal Vor... 174 184 Wheal 8u11er....,. . 22 23
Marko Valley 64 61 Wheal Grenville 328 34s Od
North Crofty

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
3 per dent. Consols
Do. Account, Nov. 7 931 I f
3 per Cent. Reduced 914 2
New 3 per Cent 9ll 2 14 2,
New 21 per Cent. Jan. 1894
Do. 5 per Cent. Jan. 1873
annuities, 80 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Telegraph), AuO., 1908 —

Marc June.
.;xchequer Bills, £l,OOO, 2& 2i per CL .. hpm —pm
Do £SOO
Do. £lOO & £2OO 26 30 pm
Bank of England Stock, 4 per Cent 2slk 49
Do. Account

INDIAN GOVERNMENT SECURITIES.
Indian Stock, loi per Cent., AprillB74
Do. Account
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enlaced Paper 4 per Cent BBl
Do. 5 per Cent., Jan. 1872
Do. 5} per Cent., May 1879 lo9k
Do. 5 per Cent., Rup. Deb., 1872 —
Do. do. 1877 —
Do. do. 1882 —
Doi Deb., 5 per Cont., Aug. 1873
Do. Bonds, 5 per Cent., £l,000
Do. under £I,OOO
FOREIGN FUNDS--CLOSING PRICES.
Argentine Republic, 6 per Cent
Austrian Bonds, 5 per Cont. 1859
Brazilian 5 per Cent —
D. 4} per Cent., 1852-58-60
Do. 1863
.Jo. 5 per Cont., 1865
Do Account —
Do. £lOO Bonds —
Buenos Ayres 6 per Cent —
Da 2 per Cent. (Doferrtd 3 per Cont.)
Calm, 6 per Cent.
C..ilian 6 per Cent
Do. 4} per Cent

Flo. 6Psr Cent., B • --
Do., 1867
Do., Scrip, £74 paid —pm
Do., 7 per Cent., 1866
to., Scrip, £2O paid
0 )I,mbian, 6 per Cent.
Danish,. 3 nor Cent., 1825 .K—
Dinubmn Principalities, 7 per Cent —
Do 8 per Cent., 1.67 591
E tuador New Consolidated, 1 per Cent —
dgyptian 7 per Cent —
Do. Sec, ad issue —
Do. £lOO Bonds B7l.
00. Do. 1864
Do. .f5.)0 Bonds B4
Do. £IOC Bonds B6 / 5
On Government Railway Debentures B6k 1 /
Gnek 5 per Cents., 1824-5, cx Coupons
Do. Account —
Do. Coupons
Do. Account
Gaatemala 5 per Cent .
It ilian 5 per Cent., 1865
Do, Account ~
Do. Maremmana Rai1way...,,,,,
Mexican 3 per Cent
Ditto for Account
..._
Dn. 1864
n oDnoto6pdeerau 6pe
Cont. Anglo-French
c
ent
vi
.. —
Uoorish Imperial 5 per Cent
New Granada
Do 3 per Ceno
Do. Deferred —
Do Land Warrants (Hectares)
Peruvian 5 per Cent. 1865 —
Do Account 6B 61 71
Do 41 per Cent., 1865
Do 4i per Cent. (Uribarren)
Do 41 per Cent., 1862
Do Account
Portuguese 3 per Ct., 1853, '6, '7, '9,'60,'2,'3 40 391
Russian 5 per Cent., 1822, £ St
Do 4} per Cent. 1850
Do 4 per Cent., 1860
Do 3 per Cent., 1859
Do 5 per Cent., 1862
Do. Anglo-Dutch, 1864, £lOO Bonds —
Do. do. £Bl 15s. d 0....
Do., 1866, £lOO Bonds B5l 1
Do. do. £84155. do —
Sardinian, 5 per Cent 72}
Spanish 3 per Oen' —
Do Account
Do New Deferred —
Do Account
Do Passive —
Do Account
Do Com. Cert. of Cour. nut funded
Do Account
Turkish 6 per Cent., 1854
Do Account
Do 6 per Cont. 1858
Do Account
Do £lOO Bonds
Do 6 per Cent., 1862
Do Account
Do £lOO Bonds , 64k 3
Do. 1863 —
Do 5 per Cent., 1865 —
Da Account
Do 6 per Cent., 1865 5O
Do 4 per Cent., Guaranteed ...... ~ --
Venezuela, 3 per Cent. —
Do Account —
Do 6 per Cont., 1862
Do 6 per Cent. 1864
Dividends on the above payable in Loudon.
Austrian o per Cent. Ex 10 Florins
Belgian, 41 per cent., Ex. 25f.
Dutch 21 per (lent. Ex. 12 Guil s3f
Do. 4 per Cent. Certificates ...., B3k
French Routes, 3 per Cont., Ex. 25f. —
Italia), 5 per Cent. 1851, Ex. 251. —
Do. Account 43 1 21 41

59, GO

THREE O'CLOCK.
Console, Money 931
Do. Account