The Sun.
London, England, 1867-02-22 00:00:00

MONEY MARKET

A ND
COMMERCTisIi INTELLIGENCE,

TWELVE O'CLOCK.

In the discount market to-day business is very
quiet, and the rates are without alteration.

There were no gold operations at the Bank
yesterday.
The Chariot of Fame has arrived from Melbourne
with gold to the amount of £42,000.
An improvement is shown in the return of the
Lank of France for the past week. The Cash in
band has increased £760,C0'1, and the Private Ac-
counts £392,000 ; while there has been a decrease
in the Bills Discounted of £1,266,619, in the Ad-
vances £20,000, the Notes £600,000, and in the
Treasury Balance of £160,000.
It is state 1 that the annual report of the Atlantic
and Great Western Railway Company will be issued
at the end of the week, and that a public meeting
of the parties interested will be convened for Tues-
day, the sth March.
Business in the Foreign and Colonial Produce
Markets during the last few days has remained very
inactive, and for most of the principal staples rather
lower rates have been current, particu!arly as re-
gards sugar; coffee, and tallow. Rice, however, has
been in good demand, and, owing to the smallness
of Stocks on hand, full rates have been demanded
by holders.
Yesterday evening was issued a circular by the
Great Eastern Railway Company, announcing an
issue of £652,300 of Five per Cent. Debenture
capital, redeemable at £l2O per £lOO, the scrip to
be emitted against bankers' receipts for payment
of the deposit or instalments, which will be ex-
changed when fully paid up for the definitive
debentures. The company are authorised under
Parliamentary power to effect this operation. This
amount of debenture capital is issued against
£20,791,452 of authorised share capital, of which
£17,347 731 has been paid up. The first charge
on the line for debenture interest and rents of
leased lines will be £530,000 a-year, and with
the present traffic there is a margin of £345,000
aeyear net income over the total amount of first
charge. The advantage of a permanent de-
benture stock, redeemable by half-yearly re-
ductions in the nature of a sinking fund,
so that repayment is secured by an annual payment
as well as interest, is apparent from the recent legal
decisions. The advantage to the shareholdersis obvi-
ous of a system which adds every year to the perma-
nent value of their property by extinguishing debt,
while a small addition to the interest, to be used as a
sinking fund, virtually costs nothing, being no more
than the average cost of stamps, commissions, Sze., in
renewing short-dated bonds. The company will
Compound for the stamps, so that the debentures
will be transferable by indorsement without duty.
Each debenture will be convertible into ordinary
stock of the company at par, at the option of the
holder, at any time during its currency upon
giving three months' notice iu writing. The price
of each £lOO debenture is £lOO, payable as fol-
ir2s:—Deposit, £lO on allotment; Ist instalment,
80) on the Ist April ; 2d, £2O, on the Ist May ;
July4'2o7 on the Ist Jane ; 4th, £2O, on the Ist
tlituty ; and sth, £lO, on the Ist of August. Interest
x
5 per eclat. per annum will be allowed on pre-
payment of the whole on allotment, or on the re-
maining instalments, at the date of any one of the
instalments. This, with the benefit of the coupon
x_ronl Ist January, 1867, makes the net price of the
£lOO debenture equal to £97 18s. 4d.
en The report of the Commercial Union Assurance
th:111,13allY has been issued prior to the meeting on
1 tit March. The fire branch it states exhibits a
:58 in consequence of numerous and extensive con-
ragrations, many of them of a very irregular cha-
eterl 'which have taken place. The operations
onf the life branch are more satisfactory : 497
s policiea were issued daring the year, as-
suring £328,860, and producing in new pre-
miums £11,068. Five claims have been paid,
amounting_ to £3,500, and a further one for
XOOO has been admitted, but not yet due. The
,r,t'tal amount of assurances in force on the 31st
iffecember was £1,500,000, and the life fund invested
,0 a special trust has been increased to £124,196.
he business of the marine branch has steadily in-
creased. , bosses, however, during the year have
been usually heavy on first-class risks, and it is not
exPected that the 1866 accounts will show any profit.
The directors further state that they do not on this
occasion recommend the distribution of a dividend-
S,Lotne disappointment, they fear, will be caused
-?' this result, but they confidently believe that
their decision will not affect the reliance which the
Public have hitherto evinced in the stability of the
Company.
The Bank of England return, completed to the
20th February, is again of a favourable character,
as regards the increased strength of the establish-
ment, but fully indicates the depressed condition of
trade in most branches of business. The bullion
has been increased by £134,031, and there is an ad-
dition to the reserve of notes of £398,190. The
other securities have been diminished by £116,192,
and a large increase has been made to the private
balances. Subjoincdis our usual analyses
Public Deposits... ... .£6,870,680 Decrease....£666 812
Other Deposits' ... 18,559,453 Increase ... 791,330
3,562,259 Decrease... 2606
On the other side of the account :
Government Securities £13,111,068 No alteration.
Other Securities... 18,201,350 Decrease
.m 6,192
Nutes unemployed 10,985,485 Increase ... 398,190
The amount of notes in circulation is £22,295,590,
being a decrease of £335,195 ; and the stock of
ullion in both departments is £19,311,413, showing
all increase of £134,031 when compared with the
former return.

Two O'CLOCK.
According to Reuter's telegram from yaris to-
y, the French Rentes were 69f. 72e. Firm. 4
-rhere is another decline of
per Cent. in Consols,
v3ret the general condition of the market for the Bri-
,.funds is strong, the depreciation principally
„rislng from the paucity of business. Consols are
41 4 for money, and 904 for the account.
B,l4ereased firmness has prevailed in the Foreign
"°elr. Market. Italian 5 per Cents., 1861, have
Saab, to to 53:1 54 ; Greek Bonds to 15i 16 ;
irtin.zlBll Passive, to 224 ;a, ; the Certificates to
I ; and the Russian Loan Scrip, to 24 24
preen. the
110, -"qc Chilian and Danubian Loan Scrips,
10, ever, continue depressed, the former being
r at 24 21 dis.,
and the latter 1 lower, at 1 0}

been intthhe Railway Share Market dullness has again
b ruling feature, and but few dealings have
3
'le-eri entered into. Great Eastern have receded
etropon,_
4!_ fIA 'in, Midland, and South-Eastern each
u Great Western ; while Great Northern
41 North Western have each improved
.13 American Securities are fiat. United States 5-207
°lids have receded I, 731 /1-; Erie Shares to 3
jand Illinois Shares remain at 77i 78.
18celifin
ti eous and Finance shares are very in-
in and without any material alteration to quote
in Telegraph being dealt.
Pon--; 15i ; City of Mexico Gas at 17 17+ ; Credit
efc,„c'er °f England at 3i 3 9 -16 the ; lludson's Bay
7Pany at 164.
r tlietranic receipts on the East Indian Railway
to .en')ako week ending Dec. 30, 1866, have amounted
'-
10d and for the corresponding
ing week
ie previous Year to £32,118 ls. 5d., show
.ann th
increase of £6,073 Os. sd.re Atlantic
414(1 Great Western Railway Debentures
'Mort steady ~
teadY at 30 32, and the Consolidated
Chathe
pis oi
Foreign ud have further advanced 1, to 25k 26.
and Colonial lines exhibit little
°f importance. Great Luxembourg are
marked 12) San Paulo 13k, Bahia and San Fran-
-211°312, Grand Trunk of Canada have improved to
Qi,,,g,.'„..11:a•5t Indian remain steady at 106 k and
Indian Peninsula at 1051 13.
howauk Shares continue very quiet. Bank of Egypt,
to 43 are hal'e improved to 33; London Joint Stock
at 64 ; while London and County remain steady

MINING MARKET.
lu the Alining FRIDAY, Two o'Clock.
Market there hafs been more an

mation. Great Retallick, Great Seton, Great
Laxey, and West Chiverton Moor brought enhanced
rates. Annexed are the current quotations :

Carn Camborne, —5 —s ; Chivertou Moor, 61 7 ; Chou-
tales Gold, 2 2} ; Clifford Amalgamate, 5 51 ; Cooks'
Kitchen, —; Drakewells, —s —s; East Basset, 171 20 ;
East Caradon, 5 ; East earn Brea, 331 ; East Lovell
9 91; East Russell, 81 j; East Wheal Gronville, 21 2f;
Great Laxey, 16 17 ; Great North Downs, ——; Great
Betallaok, 60s Od 62s 6d ; Great South Tolgus, 12s 14s ;
Great Wheal Tor, 1G 17 ; Marko Valley, 4 4k; North
Crofty, 41- 5; North Roskear, 61 7; North Treskerby,
2} 21; Prince of Wales, 33s Us; Prosper United, 3i; 1;

.
ItAntoor, 93 113; South Condusrow, —a —d ; Routh
Grenville, 8s 9s ; South llerodsfoot, —; 'firm-oft, -
-; Wo3t. Caradon, —; Wcst Chivorton, Cl ;
Wost Drakowells, —a; Whoal Basset, 62k 65; Wheal
Duller, ; Wheal Chivorton, 8 8i ; Whoal Grenville
—; Whoal Suton, 105 110,

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
net Cent. Consols
Do. Account, March 7 9E4 / i
3 per Cent. Rodue,d 94
'low 3 por Cent 9oi i
Now 2'5 por Cont. Jan. 1894 —
Do. 5 por Cont. Jan. 1873 —
A.unuities' 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April, 1885 —
Do (Red Sea Telegraph), Aug.,1908 —
%chequer Bills, £l,OOO, 4 per Cent l7 pin
Do £5OO lf - pin
Do £lOO & £2OO ,
Bank of England Stock, 6i per Cent ... 254 2}

INDIAN GOVERNMENT SECURITIES.
uunto Stock, 10i per Cent., AprillB74 215 H
Do. Account

Do. 5 per Cont. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Eufaced Paper 4 per Cent B4l
Do. 5 per Cent., Jan. 1872
Do. 51 per Cent., May 1879 —
Do. Deb., 5 per Cent., Aug. 1873
Do. Bonds, 5 per Cent., £1,000
Do. under £1,000
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent —
A.ustrian Bonds, 5 per Cent, 1859
3razilian 5 per Cent —
Do. 4.1 per Cent., 1852-58-60

Lo. .
1863
Do. 5 per Cent., 1865 —
Do Account 7ll 1
Do. £lOO Bonds —
Buenos Ayres 6 per Cent —
DJ 2 per Cent. (Deferred 3 per Cent )
C..illan 6 per Gout —
Do. 8 per Cent.
Do. 6 per Cent A —
Do. ~ B
1867
Do.
Do. n Scrip, £2O paid i2l die
aalombian, 6 per Cent.
Juba, 6 per Cent.
Danish 3 per Cent., 1825 —
Da. 5 per Cent., 1864 9Bi
W iubian Principalitiep, 7 per Cent
eJquador New Consolidated, 1 per Cont —
Do., Provisional Land Warrant —
Do Defoned
B ;yptian 7 per Cent B4l
Do. Second Issue
De. £lOO Bonds
Do. Do. 1864 B2l
Do. £lOO Bonds B3 4
Do Government Railway Debentures. 801 4
Greek 5 per Cents., 1824-5, ex Coupon:,
Do. Account
Do. Coupons
Do. Account
Guatemala 5 per Cent. —
Italian 5 per Cent 1865
Do, Account
54
Do. liaremmana Railway
11.”(icar. 3 per Cent
Ditto for Account —
Dn. 1864 —
Du 6 per Cont. Anglo-French
Aiontevidean 6 per Cent. . —
‘loorish Imperial 5 per Cent
Ne w Granada l2l
Do 3 per Cen —
6
Do. Deferred
Do Land Warrants (Hectares)
Peruvian 5 per Cont., 1865
Do Account 651 1
Do 41 per Cent., 1865
Do 41 per Cont. (Uribarren)
Do 6 per Cent., 1862 —
Do Account
Porteguese 3 per Ct., 185?, '6, '7, '9,'60,'2, '3 421 1
dussian 5 per Cent., 1822, £ St —
Do 41 per Cont. 1850
Do 41 per Cont., 1860
Do 3 per Cent. 1859 —
Do 5 per Cent. 1862
Do 5 per Cent. 1864 B9l 90
Do. Anglo-Dutch, 1866, all paid BBl 1
Do. do. £25 paid — pin
iardinian 5 por Cent
,Tanisli 3 per Gout
Do Account
Do New Deferred
Do. Account
Passive Do
Do Acciant 2_)l
Spanish Cert. of Coup not funded —
Do Account
S wedish 4 per Cent.
Do. 41 per Cent. 1864
Do. Scrip, £6O paid
l'urkish 6 per Gent. 1854 771
Do. Account
Do 6 per Gent. 1858
Do. Account
Do £lOO Bonds
Do 6 per Cent. 1862 511
Do Account 55; 61
Do £lOO Bonds
Do 6 per Cent., 1863
Do 5 per Cont., 1865
Do. Account
Venezuela 3 per Cent.
Dividends en the above payable in London.
Austrian, 5 psr Cent., Ex. 10 Florins
Belgian. 41 per cent., Ex. 25f.
Dutch 24 per Cent. Ex. 12 Guil
Do. 4 per Cent. Certificates ...., —
French Rentes, 3 per Cent., Ex. 25f. —
Italian 8 per Cent. 1851, Ex. 25f.
Do. Aceoenti 534
THREE O'CLOCK.
Console, Money 9Ol -
Do. Account

Tnis PARIS GUIDE.—The " Guide," to be pub-
lished by the Librairie Internationale, Paris, early
in the month of March, will be of a very remark-
able character. All the leading French writers, in-
cluding Berry er, Victor Hugo, Jules Simon, E.
Augur, Jules Fayre, Alex. Dumas, Laboulaye,
Jules Fanin, George Sand, A. Karr, Nelaton M.
Sainte-Beuvo, Pelleton Quinet, Michelet, Viollet-
Leduc, &c., &c., contribute towards its contents.
Paris described by such distinguished persons will
forma book of unrivalled interest, and one that
every visitor to the Exhibition must not fail to be-
come a purchaser. By its aid he will be enabled
to visit every place of interest in Paris, and at the
same eintintlheehamyeositn
ebnisteprotcakineitna
gbookmanner
that
annerev‘v'eilrlypthoiinngt
l‘R. Brz rr ON n
worthyi thelaGtitentionTofE
rt o
a E stranger. Fit
RES OLUTIGNS.—
The following letter has been received by the secre-
tary to the Birmingham branch of the Reform League from
Mr. Bright :—"Rochdale, Fob. 18. Dear Sir,—l thank you
for your note, and for the copy of tho resolutions passed at
the great meeting held on Tuesday last. I believe that all
you say about the Government and resolutions offered to
the house is quite true, and I hope that no attempt at
legislation will be founded upon the resolutions. The
reform question cannot be dealt with in a manner satisfac-
tory to the people by the avowed enemies of reform, and
it will be better for us to wait till we have a Government
honestly favourable to reform before anything further is
sought to be done in the House of Commons. I hope all
classes of reformers in the country will combine to bring
about such an expression of opinion as to induce the Legis-
lature to deal honestly and generously with the question of
representation. In Birmingham I believe the middle
class is ready to work heartily with the working class ;
and I hope a thorough union may take place with you
and in all parts of the kingdom.—l am, very respectfully
yours, JOHN BRIGHT. Mr. Roger Batoson, 12, Ann-street,
Birmingham."
It is generally understood that the accouchement
of the Princess Christian may be expected to take
place in April, and that of the Princess Mary in May next.
Wo hear that in each case Dr. Arthur Parrs is engaged to
attend, and that Dr. Priestley will be called upon in case
any assistance is required. It is said that Sir Charles Lo-
cock has promised to be present on the occasion of the
Princess Mary's confinement, although he will take no
active pert in the conduct of the case.—The Lancet.

FATAL DUEL AT VIENNA.—An unfortunate duel
took place on Saturday morning, in the Praior, between
Prince Bernard of Sans, captain of artillery in the Austrian
service, and a nephew of the King of Hanover, and Count
Erhard Wedel, late captain and chef d'eseadron in the
Hanoverian Cuirassiers of the Guard, ana aide-do-camp to
the King of Hanover. Prince Sol= was shot through the
right lung, and died on Sunday morning at six o'clock.
ZOOLOGICAL SOCIETY.—At the monthly general
meeting, held yesterday at the society's house in Hanover-
square—Mr. George Sclater-Booth, M.P., in the chair—
Mrs. Henry, Mrs. Sheridan, and Messrs. Eugene Alberti,
Edward Henry Burnell, Alexander 11. Dennistoun, Alfred
M. Drummond, David Forbes, Richard Whoen, jun., Chas.
F. Skirrow, lenry C. Metcalfe, Morgan D. Treherno
Samuel Montagu, G. B. Worms, M. B. Worms, and Chas.
Cumberland were elected fellows of the society. Forty-
four candidates for the fellowship were proposed for ballot
at the next monthly meeting in March.
THE GREAT EASTERN.—Yesterday the Great Eas-
tern, which had been for several weeks beached on a grid-
iron above New Ferry, on the Cheshire side of the Mer-
sey, was safely removed to her moorings in the Sloyne.
While on tho gridiron the big ship underwent a complete
overhaul, so far as the external part of the hull is con-
cerned. Her bottom has been thoroughly cleaned, and her
plate-lines were yesterday as dear and distinct as the day
she left the stocks at Mil!wall.