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

MONEI MARKET

A ND

COMMERCIAL INTELLIGIV.--4

TWELVE O'CLOCK.

In the general Discount Market there is no

material change to record ; the inquiry for accom-
modation, however, is rather more active owing to
the approaching, settlement in Railway Stocks and
Lank and Miscellaneous Shares.

Tha 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 Honduras Government Rail-
way Loan, to be issued in bonds to bearer of £lOO,
£aoo, and £l,OOO each at SO per cent., with
au annual interest of 10 per cent. Redemption at
par in sterling within 17 years by yearly drawings
by means of au accumulative sinking fund of 3
per cent., and the first drawing will take (lace on
the 31st December, 1869. Payments to be made as
follows:--£5 on application; £lO OR allotment; £lO
January 1,
1868 ; £l5 on July 1, 1868 ; £2O
on 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 mouth after allot-
luent, with each £lOO bond, one 10,000 th deferred
fully paid-up railway share to bearer, entitling the
bolder 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. Bischoffshcim 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
is every probability that when the line of railway
Is completed it will yield equally as much profit.
the line is to be 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 143-
Per cent. At the Stock Exchange the loan has
been well received, and is quoted 2 to 2-1- 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
last month or two. Stocks are still decreasing, and
iwithin the last four weeks they have, it is stated,
'essened in makers' hands to something like 6,000
tons. 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-
numerating the services of the committee and others.
In accordance with the wish of the holders, the
yes have agreed to recommend that each certi-
ficate holder shall subscribe ss. per £lOO of every
denomination after conversion, and that the amount
131/4) 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 whea
being difficult to effect, except at a decline of 18. to
3s. per quarter on previous rates.
Atlantic and Great Western Railway Debentures
have declined to 24} 25i, and the Consolidated
Mortgage Bonds
to 19 20.
There has been very little improvement in the
state of trade in the manufacturing districts during
thee, past week. At Manchester prices continued
depressed until near the close, when the more
Pacific news from the Continent caused rather
tore activity, and a slight advance in values.
!11, the woollen districts of Leeds, Bradford,
and Iluddersfield there has been a fair
demand for tweeds and spring goods generally,
but dulness has prevailed in most of the other de-
rartments. At Leicester and Nottingham there
s been a moderate demand for useful hosiery
goods, but foreign orders have been scarce, and the
eratives generally are only working about two-
thirds time. In the hardware districts of Birming-
ham,
Sheffield, and Wolverhampton quietude has
Prevailed, and trade, as a rule, is exceedingly dull ;
the
_ Midland Railway, however, has given out a
contract for 2,000 tons of rails.
With regard to the tea market, the annexed is an
extract
e from Messrs. W., J., and H. Thompson's
1-Nll:tar :__,‘ The market has been generally quiet
during,.,. the last fortnight, the only exception being
'risk demand for the new Souchongs, of fine qua-
lity,u ex Argonaut ; and these have sold at full rates,
Partly owing to the scarcity of fine Kaisows. The
deliveries for the last month amounted to 13,660,000
lb. The
The China auction, which commenced on the sth
1511 d concluded on the 7th instant, comprised 18,409
eitages nearly all being without reserve.' The
ales Passed with good spirit, but we cannot quote
4
Material alteration in prices. An Indian sale is
advertised for the 11th inst. (to.day), so far 2,776
packagesh are printed. Prices for Congous do not
to ow any material alteration, but Oolongs, scented
s'B,
and Canton gunpowders may be quoted ld.
Per lb. lower. Souchongs of fine and finest grades
ave opened at very full rates."

Two o'CLocI.
According to Reuter's Telegram from Paris this
'aY, the French Three per Cent. Rentes were at
68f. 05c. Flat.
t The adjourned meeting of the holders of the
Rtcl3 and Coupons of the Greek Loans of 1824 and
o will be held at the London Tavern, on Wed-
nesday, the 13th inst., at one p.m.
Railway shares to-day have been very dull and
nightly
depressed, despite the recent improvement
the traffic returns. The market is no doubt in-
ed by " Bear" operations, the public not being
TtiLt3rs in this class of property at present.
are Funds are tolerably steady, and here again there
the ,ulll few transactions. Though the advices from
nerations,
e Continent are more pacific in tone, they fail to
promote active speculation for a rise. Amidst the
ad-tind:ance of money and other favourable consi-
airlwillir g the operators for a decline are equally
to commit themselves to any great extent,
41Id Consols, therefore, are steady at 941 I for
°fleY, and at 93 for‘the account, sth December,
lividdend.
9911:.7e New Threes and Reduced Annuities were
r
; Exchequer Bills, 295. prem. ; Bank Stock,
India 5 per Cents., 114.1 116 ; Eufaced 54
Pe
cieTheCents., 1.08 and ditto Bonds, 58s. 575. prem.
Poreign Market has exhibited a slight
4gree of weakness. Italian have declined 4, to
; Mexican ,to 14.1
to Ri 15 ; Turkish 5 per Cents.
.11.) A
Greek ; Spanish Certificates 4, to 174 ;
premremain at 191 ; and Spanish Passive at
iuThe New Honduras Railway Loan is 14 24
na.
of re the Railway Share Market the near approach
the settlement has caused a heavy tone, and
ces generally show a down ward movement. Great
iv-4astern have declined 1 ;
—& Lancashire and Yorkshire,
; Caledonian, North Eastern (Ber-
-1,) and South Eastern each 4 ; and North
estern, 1.
The Foreign and Colonial lines remain inactive,
at about previous
markedvalues. Great Luxembourg arc
94 3-1 G;
Ottoman, 34; Great Western of