The Sun.
London, England, 1867-07-29 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE o'CLOcK.
Very little business is reported in the Discount
Market, and the rates appear to be merely nominal,
for while the best bills are quoted in general circles
13, special transactions are arranged and in some
eases per cent. below that figure. With such
facilities, it is almost superfluous to add that the
inquiries at the Bank with its 2 per cent. minimum
are very limited.
The sum of £8,0)0 in gold was taken to the
Bank of England on Saturday.
The West India Mail steamer Douro has arrived
with gold to the amount of £121,898, and silver
amounting to £110,281, together £232,179 sterling.
A dividend has been declared at the rate of 7 per
cent. per annum by the Irish Magnetic Telegraph
Company.
The East Indian Railway Company have in-
vited applications for 4i per cent. guaranteed de-
bentures at par to the amount of £1,000,000 for
five years, and not convertible into shares.
The accounts from the manufacturing districts for
the past week state that business generally has re-
mained quiet at Manchester. The demand for
cloths and yarns for home use and for exportation
has been on a very limited scale, and purchasers
have acted with great caution. In the woollen dis-
tricts of Leeds, Bradford, and Huddersfield there
has been a moderate inquiry for goods suitable
for present use, and the heavy goods trade con-
tinues steady, manufacturers generally being fairly
engaged upon contract orders. The hosiery and
lace departments of Leicester and Nottingham hare
been without much alteration ; while in the hard-

Ware districts of Birmingham, Sheffield, and Wol-
verhampton a slight improvement may be reported
in most branches of business, particularly oa the
demand for railway iron for India and Australia.

A call of £5O per share has been made on the
contributories in the Leeds Banking Company,
Payable on the 31st August.

A meeting has also been held of the English,
Scottish, and Australian Chartered Bank, when the
report was adopted and the dividend declared.
The profits have been fully equal to the average,
but the sum of £lO,OOO have been transferred
from the reserved fund to equalise the dividend.
The monetary crisis, to which reference was male
in the last report as existing in the colonies, has
been followed by extreme stagnation during the
'whole of the period under review, more especially in
New South Wales, where the large failures, which
occurred in the latter part of 1866, caused a severe
shock to mercantile confidence, seriously affecting
trade generally, and greatly depreciating the value
of all descriptions of property. Under these very
exceptional circumstances the directors were not
Unprepared to hear that losses, to 831110 extent, had
been incurred, notwithstanding the caution exer-
cised by the colonial managers in conducting the
affairs of the bank. The directors therefore re-
cwranend that out of the balance of pro-
fit and loss account, viz., £22,986 23. 11d.,
a dividend be paid at the rate of 7 per cent. per
annum, free of income tax, on £600,000, the paid-
up capital of the bank, which will require £21,000 ;
that the premises and furniture accounts be reduced
by £l,OOO ; and that £986 23.11 d. bo brought for-
Ward to the current half year.
At a meeting to-day of the shareholders of the
bismuth Colonial Steam Ship Company the direc-
We report was adopted. The directors recommend
that the surplus of £4,074 17s. 11d. should be dealt
With in the following manner :—" That a dividend
of 15s, per share be paid to the proprietors on and
after the 10th August, amounting to £2,163 153. ;
that a sum of £1,500 be written off the value of the
ships, leaving a balance of £lll 2s. 11d. to be car-
ried forward to next half-year's account.
Atlantic and Great Western Railway Debentures
have declined 1, to 27 29, and the ConsolidAto.l
Mortgage Bonds, to 22 23.
With regard to corn and cotton at Alexandria.,
Messrs. E. R. Liddell and Co. in their circalar,
dated July 19, 1867, state :—Cotton quotations are
difficult this week in consequence of the limited
amount of business transacted : holders maintain
their prices with the greatest obstinacy. Good mid -
d!lng, 13d. f. o. b. ; fair to fully fair, 141 d. to 1411.
ditto; Good fair, 16d. ditto. In cotton seeds large
sales have been made by the Viceroy, for delivery to
the end of February, at about £6 2s. 6d. f. o. b.
For cereals the demand has been fully equal to
a
4PPliss, and prices fully maintained.

Two o'CLocK.
According to Reuter's telegram from Paris to-
"ay, the French Rentes were 68f. 95c. Rather firm.
There is no improvement with regard to business
f°r the English Funds, speculation being too dull
"cl investments too few to produce anything like
i4nimation. The war feeling on the Continent still
4 its depressing influence, for despite the pacific
statements put forth by a portion of the Parisian
Age'sa rupture between France and Prussia is
'ea of with intense seriousness. Consols just
6,,c)w are 931 for transfer and for money, and 93i
sat for the account, being * lower than they were on
~,urday afternoon.
ha 93~New Threes are 93f s Reduced Annuities,
Per' of England Stock, 260 58 ; India 5
ti"' Cents., 1111 ; ditto Enfaced 51-per Cents., 108 f ;
Ltto £l,OOO Bonds, 70s. prem.
kilriees in the Foreign Market are steady.
te.lican are 15; f ; Spanish Passive, 21 f ; Certifi-
''‘eB) 16 ; Russian Scrip, / prem. ; and Chilian
:lit,' 2f 2 dis ; Italian have receded f , 471 48 ;
Turkish 5 per Cents., if, to 29f-
ttt'411k shares are dull. London and Westminster
1: 'narked 103 103 f, Union of London 39, Alliance
Tancl London and County 55k.
t 6 Ile Foreign and Colonial lines remain without
Itt-it'gre of importance. Dutch-Rhenish are dealt in
44' 9i, Great Luxemburg at 9f f, South Austrian
off,Lornbardo-Venetian at 14} /, Great Western
qr. 'anada at 14f -1, East Indian at 108 k k, and
4e
t Indian Peninsula at 107 k f.
act very limited amount of business has been trans-
Retled in the Railway Share Market, and prices
shi erallY show a further slight decline. Lanca-
sobre,and Yorkshire have receded./ ; North Western,
eac`itin Western, Metropolitan, and South Eastern,
each ; while Great Western and Brighton have
advanced f.
American Securities show but little variation.
Iti,."venty Bonds have declined to 721 ; while
..15 remain at 76 77.
ilte'4.lacellaneous and Finance Shares remain at about
are 6e° values. Atlantic Telegraph 8 per Cents.
lli3ealt in at 731, being flat ; General Credit and
lile°unt at 41 ; National Discount Company at
and Viceroy of Egypt's Mortgage Loan at 67/.