The Sun.
London, England, 1867-01-26 00:00:00

ITONEf MARKET

A ND
COMMERMIL I,LIGEN CB,

TWELVE o'CLocK.
As usual at the end of the week there has been
less inquiry for money, and in fact thei-discount
business transacted has been of almost nominal
amount. It is difficult to conceive a more intense
degree of listlessness than that which now prevails,
but this inactivity, it may be hoped, is the prelude
of that revival of enterprise which generally charac-
terises the early spring, when confidence is in
home politics, and when also there is little of a
disturbing nature in the relations of foreign
Governments.

There is a superabundance of floating capital,
and the sooner it is forced into safe and remunera-
tive employment the more beneficial it will be in
the interests of our industry and commerce. The
the lowest terms in the general discount market
are 2i 3 per cent., and daily loans on Govern-
Mental securities in the Stock Exchange are offered
at exceptional rates.
Gold, to the amount of £B,OOO, was taken from
the Bank of England yesterday.
A report of the directors of the East London
Bank, just issued, states that the available balance
for distribution amounts to £4,009, and recommends
the payment of a dividend at the rate of 5 per cent.
per annum, free of income tax.
The Anglo-American Telegraph Company pro-
, pose to make the dividend of £1 per share payable
On the 29th inst.
The letters of allotment of the Chilian Loan were
sent out last night. The first instalment of 10 per
cent. is made payable at the London Joint-Stock
Bank on Tuesday, the 29th inst., as notified in the.
Prospectus; no reply has been returned to those
applicants to whom it has been found impossible to
Make any allotment.
A report has been issued by the Universal Marine
Insurance Company, embracing the whole of the
transactions of the company to the 31st December.
It states that the net premiums received during the
Year, after deducting returns of premium, cost of
re-insurances, brokerage, and discount, amounted
to £225,887 17s. 2d., and the payments for losses
and claims on account of the same period have been
£105,504 108. Bd., leaving £120,383 6s. 6d. at the
credit of the underwriting 'account of 1866 ; and
although the disasters at sea have been unusually
severe during the past year, the directors have every
reason to hope that it will yield a satisfactory result.
The .ieavy losses against which the Company has
had to contend were (as is well known to the share-
holders) incurred in 1860 and 1861, since which
time the balance to the credit of each year's under-
writing account stands as follows :—For the year
1862, £18,551 Os. 4d. ; 1863, £42,035 18s. 10d. ;
1864 (Calcutta cyclone year), £lB,lOB 17s. ; 1865,
' £51,427 12s. 3d. ; making a total of £130,123.
Bs. 5d., which, however, is subject to a deduction
of £36,372 13s. 9d. for expenses, bad debts, &c.
.It will, therefore, be seen that since the change
Made in the underwriting department at the close
of 1861 every year's business has left a profit to
the company. In view of these facts, showing the
gradual and steady progress made by the • com-
Pally in retrieving the disastrous losses sustained
during the first two years of its existence, the
directors deem the time to have arrived at which
the shareholders may fairly expect a distribution
out of the interest that has accrued from the se-
entities in which the funds of the company have
been invested, and they recommend that a pay-
Ment of 2s. Gd. per share (free from income tax),
Which will absorb £6,250, should be made out of
the
sum of £9,392 Bs. 9d. standing at the credit of
"ue interest account.
Specie, representing £79,264, has arrived by the
Ilansa, from New York ; and the Sussex, from
Port Phillip, has brought gold to the value of
4117,000.
The specie movements during the past week have
not been of a very extensive character as regards
the imports, which have amounted to about
268,192 —including £53,000 from New York, by
the Allemannid; £2;940, by the City of Baltimore ;
and £79,264, by the lfansa. The Sussex, from
Australia,
.has arrived with £117,048, and about
t. 16,940 has been received in silver from the Con-
The exports have been £5,855 to the East
Indies and China, by the Pera, and there have been
remittances to the Continent through private
,sources estimated at £529,320 ; the total amounting
tu £535,175.
'With regard to the tea trade, Messrs. Halbert and
`-'°.) in their bi-Monthly circular, state as follows :
" The feature of the past fortnight has been the
Increasing firmness of holders, and as is usually the
this has tended to materially restrict opera-
,l,°llB, which, from the nature of the inquiry and from
the biddings made by dealers, might otherwise have
?eel]. extensive. The contracts passing since the 10th
inst., confirm the advance then described in the value
of fine to finest classes of congon tea ranging from
Is. 10d. to. 2s. Gd. per lb., immediate descriptions
fully supporting old quotations, while many parcels
are held for id. to 2d. more money. As to common
and fair black and red-leafs, prices show an improve-
runt of about id. per lb., ruling now from is. Old.
to is. 121 per lb. ; dusty to leafy grades are
fetching from Gid. to 10d. per lb. ; at the moment
they are in liberal supply. New-make congous are
saleable from ls. 3id. to ls. 7d. per lb.

Two o'CLoca.
A further improvement has taken place to-day
in the market for Consuls, which have advanced /
Per cent. to 901 1 for money and the account. The
I\.lll Threes and Reduced Annuities were 901 ,
411nuities, 21 per cent., 1894, 73 ; Bank of Eng-
pland Stock, 249 f ; India 5 per:Cents, 107 1; ditto
c faced 5} per Cents, 107 ; and ditto Debentures,
1.
Pore n Stocks generally are slightly improved.
Grr
r, ce--- :have advanced I, to 14 1 ; Turkish 5 per
~.,—e4ta- 1, to 291 1 ; Spanish Passive 1, to 22 1 ; the
kde t',
incates /, to 141 1 ; while Mexican have de-
clined"-, to 1741.
The New Chilian Loan has declined 1, to 1 1
PrThhe Russian Loan Scrip continues firm at 11 1
_There was little animation in the Railway Share
Market to- day, but in a .few instances prices were
a shade firmer. Great Northern A. Stock, Mid-
andg South-Eastern, each improved 1;
jua t Eastern, 1 ; and Lancashire and Yorkshire, ;
cl,lle Great Western and Metropolitan, each de-
ined
_ ..110 Foreign and Colonial lines exhibit little vari-
-71,,0n. Great Luxembourg are maked 121; Bahia
2,11," San Francisco, 121; Grand Trunk of Canada,
Great Western of Canada, 141 1; East
Indian 1061, 107 ; and Great Indian Peninsula,
4041 105.
states Securities are -without change. United
'Xates 5-20 Bonds at 72
and Illinois at 80 81. 11 ; Erie Shares at 431 1 ;
Atlantic and Great Western Railway Debentures
lave advanced 2 to 44 46 ; and the. Consolidated
Mortgage Bonds to 33 34.
Alisdellaneous and finance shares are very quiet.
Anglo-American Telegraph have improved to 151
; Imperial Land Company of Marseilles to 1/ 4 ;
Credit Foncier of England were firm, at 31 1 ; and
Crystal Palace stock at 27 29k.
-Bank Shares are dealt in to a fair extent, and
steady rates are current. Alliance are marked
St ; Imperial Ottoman, 81 ; London Joint-
11°Ilek, 441 1 ; London and Westminster, 97f ; and
ion of London, 451 1.