The Sun.
London, England, 1867-12-19 00:00:00

MONEY. MARKS

AND

.10MMERCIAL NT ELLIGENCE.

TWELVE O'CLOCK.

At the weekly Court of the Directors of the Bank
'of England this morning, no alteration was an-
nounced in the minimum rate of discount, which
still remains at 2 per cent.
In the general market there continues to be a fair
demand, and the rates current are in most instances
fully equal to the Bank minimum.

At a meeting of the Grand Trunk Railway Com-
pany of Canada the report of Captain Tyler, who
Las just returned from his mission to Canada, was
discussed.

The biddings for bills on India took place yester-
day at the Bank of England, and 12,30,000 rs.
(£123,000) were allotted to Calcutta. The mini-
mum price was fixed, as before, at Is. 11d. on
Calcutta and Madras, and all tenders at above that
price will be allotted in full.

The return of traffic of the Ottoman Railway
for the week ending Dec. 1, 1867, amounted to
£1,009, against £787 of the corresponding week of
1866, showing an increase of £221. .
The shares of the Anglo-Argentine Company
Were to-day quoted at Ito prem.

The directors of the Chontales Gold and Silver
Mines have received advices from the mines dated
9th November, 1867. Cholera bas entirely disap-
peared from the mines. The health of the establish-
ment is satisfactory. Native labourers still scarce,
but expected soon to return. The general prospects
much more encouraging. The remittance of gold
was 245 ounces.

At a general meeting of the shareholders of the
Great Wheal Vor United Mines Company, held
this day (George Noakes, Esq., in the chair), the
reports read were considered highly satisfactory,
and show that the mine has considerably improved
since the last meeting. There is every probability
of a lasting and profitable mine for some time yet
to come. The accounts made up to-day showed a
balance in hard of £5,010 after paying all liabilities.
A dividend of 7s. 6d. per share on 5,908 shares
(amounting to £2,215 10s.) was declared, and the
usual vote of thanks to the chairman and committee
terminated the proceedings.

The New Honduras Loan is firm, at 11 to 2
Prem.

Atlantic and Great Western Railway Debentures
remain firm at 22i 23k, and the Consolidated Mart-
gage Bonds at 19 19k.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1867. 1866.
Great Western ... 71,827 71,379
North Western ... ...122,679 120,450
South Western ... 21,785 22,059
Brighton ... ... 20,495 19,820
Midland ... 51,027 47,072
South Eastern ... ... 22,617 21,907
Great Norther' ... 43,264 42,472
Lancashire and Yorkshire... 45,111 44,153
Bristol and Exeter... ... 7,150 6,891
North Eastern ... 66,891 68,789
Manchester, Sheffield, and Lincoln 20,693 21,261
Great Eastern ... ... 33,736 34,458
London, Chatham, and Dover ... ... 8,643 8,447
Metropolitan-. 4,741 4,530
North British ... 25,151 24,393
Glaßgow and South Western .t. 9,611 9,443
Midland and Great Western of Ireland ... 5,092 5,254
These returns, when compared with those of the
Corresponding period of last year, are generally
of a satisfactory character. On the Great
Western there is an increase of £448 ; on the
North-Western, of £2,229 ; on the Brighton,
of £675 ; on the Midland, of £3,995 ; on the
South-Eastern, of £3,600 ; on the Great Northern,
of £792 ; on the Lancashire and Yorkshire, of
£958 ; on the Bristol and Exeter, of £339 ; on the
on the London, Chatham, and Dover, of £196;
nu the Metropolitan, of £211; and on the North
British, of £761 ; while the South-Western shows a
decrease of £274 ; the North-Eastern, of £1,895;
the Manchester, Sheffield, and Lincoln, of £568 ;
and the Great Eastern, of £722.
The Manchester markets during the last fort-
tight are thus commented on by Messrs. Alexander
Collie and Co. :-" During the past fortnight the
total absence of speculation is cotton and piece
goods, as well as the absence of general and steady
Confidence to which the now very low scale
of prices seems to encourage a return, have
made themselves observable in the eagerness
of planters and holders of American cotton to quit
their stocks even at prices which, it is believed,
entail loss upon them. This exhibition of weakness
011 their part has influenced injuriously the course
°f cotton at Liverpool, cotton goods here
thlted cotton goods in the East and induces
most extreme caution on the part of shippers.
The opinion is becoming pretty general that, not-
'Withstanding the scarcity of money in the south,
and consequent necessity to effect sales of the crop,
the-elericans will ere long become steadier holders,
because the chief outlets for manufacturers, although
giving way with every report of cheaper cotton,
s_tstill- leave a handsome margin upon present
44nchester prices, and thus encourage the hope
that consumption of cotton will increase, and
lead to firm, if not higher rates. The repeal of
their export tax, which is now so much urged,
'would, it is inferred, only enable them to retrieve
Past losses without fur her yielding in price, for the
Other qualities have only declined to present values
in order to maintain their relative positions in th
e°esumption, not that cheaper production or greater.
abundance enables them to do so.
Messrs. Stern Brothers have announced to the
public that his Majesty the King of Portugal, by a
decree under date of the 16th of December, has
authorised the creation of £5,500,000 nominal
e4Pital 3 per cent. stock, and that they have
entered into a contract with the Portuguese Go-
%.ernment for the negotiation of the same. It ap-
rlars that £750,000 has already been disposed of ;
,000,000 is reserved for Portugal, and the con-
?actors are now prepared to receive applications
i°t the remaining £3,750,000. Bonds to bearer
are Proposed in amounts of £lOO and £5OO, bear-
ieg interest at 3 per cent. per annum, payable half
dearly,
on Jan. 1 and July 1, at the Portuguese Fi-
l4nnial Commission in London in pounds sterling ;
Paris, at the Exchange, of 25f. 25c. ; aid at
Amsterdam, at 11 guilders 80c. per pound. The
sP_riee of issue is 381 for every £lOO stock, with inte-
rest from July 1, 1867, payable as follows :-£5 per
ic4t• on application, £5 on allotment; £5 Jan. 30,
8
deducting 11 per cent. dividend (lees income
3-'/), due Jau. 1, 1868 ; £5 March 30 ; £lO May
s°' and £8 10s. per cent. June 30, total 38k. Sub-
criptions will be received in London by liessrs.
pter Brothers, and in Lisbon and Oporto by
aera• Fonsecas Santos and Vienna. With the
„ee of issue at 38k, inclusive of the January
'Pon of 11 per cent. and the discounts on pay-
ments in full equivalent to 9-16 per cent. the net
Briee is less than 361, and will yield the investor,
aealling himself of all the advantages offered,
ttit.rl 81 per cent. This loan is merely a substi-
-10,1:34 of Interior Stock pledged for temporary
Cua raised by the Government, which stock
as •
4,,i) in accordance with the loan of the lst
Y 1 1867, to be cancelled against the issue of the
telt 1
ezist. °an ; the latter, therefore, will not add to
sai„lng charges on the revenue, but rather di-
, •ash
to„them by substituting funded debt for float-
en° uchts, bearing very high rates of interest and
-trinlis •
Of 4„ fission. When the Cortes last met £520,000
rti taxes were voted, the collection of which will
n:l7
Cal
~,
,Les lice in January, 1868. The Government
e reed, and has commenced to carry out, the
mu °f the landed properties belonging to the
Nl'elPa
i"lities and hospitals, which at the lowest
144,11, ate are valued at £2,500,000, and this
siti4Ges bY law be invested in Government Seen-
the T
Portugal there is an institution for
io assse_eurity of stockholders which does not exist
us.Y other country, called the Junta of Public
ar4eectvl It appears that every year certain taxes
laa4ci:toelfily the Cortes to be paid direct into the
oiellt this institution, to be applied for the pay-
of44 the interest on the external and internal
! an d it
fte intervery often happens that the interest on
11 Lies nal stock is paid three months in advance.
at 43,u°n
and at Amsterdam and London at Stock is now largel
401 y dealt in
.
Two o'CLocK.
Pr4enccch°ricling to Reuter's telegram this morning the
~..,,entes were 68f. 75c. Firm.
"3/1 • -
Securities remain inactive, and the tone