The Sun.
London, England, 1867-07-04 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

This being the 4th of the month there is a fair
demand for discount accommodation, and the rates
current in the general market range from about 24
to 28 per cent., according to the quality of the paper
offered. The directors of the Bank of England at
their weekly court made no alteration in their
minimum rate, which still remains at 21 per cent.
A small sum of gold, representing £3,000, was
received at the bullion office of the Bank of England
yesterday.
The London Financial Association (Limited)
has given notice that a meeting of shareholders will
be held on the 22d inst., to receive the directors'
report and accounts for the past half-year.
At the forthcoming meeting of the London and
Westminster Bank, on the 17th inst., a dividend
will be recommended of 14 per cent. for the six
months ending the 30th of June.
The San Paulo (Brazilian) Railway Company
have invited tenders for £220,000 of remaining de-
bentures, bearing 7 per cent. interest. They are
redeemable at par in three years, are put forth at
the price of 95, and constitute a first charge on the
railway and the Government guarantee.
Atlantic and Great Western Railway Debentures
have declined k, to 30 32, but the Consolidated
Mortgage Bonds remain steady at 241 254.
With regard to the bill presented to the Congress
of Spain for the conversion of the Spanish Passivo
and other debts, the sth article relates to the settle-
ment of the Certificates, and authorises the Go-
vernment to effect the same on the conditions
specified by the law of the 30th June, 1866 ; the
stock to be issued for this purpose to bear interest
from the Ist inst.

The biddings for £270,000 in bills on India were
made yesterday at the Bank of England. The
amounts allotted were to Calcutta, £113,000 ; to
Madras, £26,000 ; and to Bombay, £7,000. The
minimum price was fixed, as before, at ls. 3.1. d. on
all the presidencies, and tenders at and above the
minimum will receive in full. These results show
a further diminution in the demand for means of
remittance to the East.

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

1867. 1866.
Great Western ... ... 82,367 81,266
North Western ...
...132,286 130,557
South Western ... ... 30,103 30,534
Brighton ... 26,916 23,703
Midland ... 58,923 54,322
South Eastern ... 28,671 25,533
Great Northern ... ... 39,775 37,834
Lancashire and Yorkshire.- ... 51,124 49,808
Bristol and Exeter... ... ... 8,183 7,450
North Eastern ... 80,116 78,445
Manchester, Sheffield, and Lincoln 22,569 22,776
Great Eastern 87,475 35,401
North British ... 28,375 27,467
London, Chatham, and Doyer ... 14,928 13,167
Metropolitan 4,500 4,049
Glasgow and South-Western ... 11,332 11,098
Midland and Great Western of Ireland ... 6,997 6,196
These returns, when compared with those of the
corresponding period of last year, are, with a few
exceptions, of a highly satisfactory character. On
the Great Western there is an increase of £l,lOl ; on
the North-Western, of £1,729 ; on the Brighton, of
£3,213; on the Midland, of £4,601 ; on the South-
Eastern, of £3,138 ; on the Great Northern, of
£1,941 ; on the Lancashire and Yorkshire, of
£1,316 ; on the Bristol and Exeter, of £733 ; on
the North-Eastern, of £1,671 ; on the Great
Eastern, of £2,074 ; on the North British, of £908;
on the London, Chatham, and Dover, of £1,761;
on the Metropolitan, of £451; on the Glasgow and
South-Western, of £243 ; and on the Midland and
Great Western of Ireland, £lOl ; while the South
Western exhibits a decrease of £431, and the Man-
chester, Sheffield, and Lincoln, of £207.

The following circular will be issued on Satur-
day next by the Metropolitan Bank (Limited) to
the shareholders :

" 75, Cornhill, London, E.C., July 6, 1867.
"Dear Sir,—The articles of association having provided
that the first ordinary general meeting be held in January,
18G8, and at the same time that the directors be empowered
to declare an interim dividend, if such be warranted by
the state of the accounts, the enclosed is a warrant for
the same at the rate of £5 per cent per annum.
"By order of the board,
" THOMAS U. GILLESPIE, Secictaiy."

Two O'CLOCK.
A farther retrograde movement of 1 has placed
Consols fr per cent. lower than they were on Tues-
:lay afternoon, the latest prices being at 941 for
money, and 94i for the account. The influence
A the approaching settlement is evidently controlling
the course of values, and the changes are frequent
tud important. The financial disclosures which are
now of almost daily occurrence have disturbed
3onfidence, but why the Funds should suffer it is
iifficult to conceive, as they are one of the most
unquestionable securities at command. The New
Threes are marked 031 ; Reduced Annuities,
331 1 ; Exchequer Bills for June, 235. prem ;
Bank of England Stock, 253 ; India 5 per Cents.,
109} 1 ; ditto Bonds under £l,OOO, 60s. prem.
In the Foreign Stock Market business has been
very limited. Italian have declined to 48+ 1,
ex div. ; Mexican to 151 16/ ; but Spanish Cer-
tificates have advanced to 151 4 ; and Russian
Scrip 1, to I- / prem. Turkish 5 per Cents. are
301 ex div. ; Greek, 14 ; Spanish Passive,
231 24 ; Russian Railway Scrip, 1, dis. to par ;
and Chilian Scrip, par to i prem.

A firmer tone has prevailed in the Railway Share
Market owing to the favourable character of the
traffic receipts, and prices generally show an up-
ward tendency. South Eastern have improved I ;
Great Western and Midland each / ; Great Eastern
and Lancashire and Yorkshire each :43. ; Brighton
and North Western each 1; and North-Eastern
(Berwick) 2; while Great Northern have declined /.
In the Foreign and Colonial lines there has been
no change of importance. Great Luxemburg are
marked 114, San Paulo 161, East Indian 1071
1074, Great Indian Peninsula 1061 107, and
Bombay and Baroda 1041
American Securities are steady. Erie Shares 434
44, Illinois 791 4 ; but United States 5-20 Bonds
have declined I, to 72/ 4.
The operations in Bank shares have only been to
a moderate extent, without any great change in
value. Chartered Mercantile of India, London,
and China have declined to 284 29 ; Alliance are
marked 15 ; and Union of Australia, 501.
Miscellaneous and Finance shares are very inac-
tive ; Atlantic Telegraph 8 per Cents. have declined
to 864 ; City of Moscow Gas to 15/ 4 ; Hudson's
Bay Company to 151; and Telegraph Construction
and Maintenance to Hi.