The Sun.
London, England, 1867-08-12 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGEN,O3,

TWELVE O'CLOCK.

We have no alteration to report in the condition
of the general market for loans and discounts
Operations are confined to immediate. demands, and
as trade, though good, is quiet, the supply of mer-
cantile bills is comparatively small. At the Bank
the inquiry at 2 per cent. and upwards according
to quality is extremely limited, and a further accu-
mulation of notes and gold would appear to be
inevitable. The specie movement, notwithstanding
the last week's mo cements, is on the whole good.
England is able to take the superabundant supplies
of corn and cotton from the United States, and such
Produce must lessen the metallic shipments in pay-
ment of interest in greenbacks and other American
fp,curitici. Australia is sending in all her riches in
the shape of gold in bullion, and the Wrest Indies
besides is contributing to our accumulation of gold
and silver. There is, under such circumstances,
reason to believe that the rates of discount will con-
tinue low. But it will be of benefit to the country
if higher rates prevailed for loans and discounts if
resulting from extended trade and the confident
promotion of associative enterprise. There is an
abundance of floating capital available for every
legitimate purpose ; but investors are shy ; and it
only requires a start, well supported, to initiate a
mania—the reverse of the panic in May, 1866.
With regard to this subject it may be observed that
raining enterprise is likely to come into fashion,
especially in relation to Cornwall, Devon, South
America, California, and Australia.
The report of the Natal Land and Colonisation
Company has just been issued. The balance on
the 31st December last was £B,BOl ; a dividend
paid at the rate of 2s. 6d. per share reduced this
amount to £4,166, and the directors now recom-
mend a further distribution of 2s. per share,
Making a total dividend of 4i per cent. for the
Year, leaving a balance of £455 to be carried
forward. The assets of the company amount to
£120,778, and the liabilities to £187,531. A resolu-
tion will be submitted to the meeting on the 16th
inst. to raise £250,000 on debentures.
At the meeting held to-day of the Working
Company the report and accounts were
presented, which stated that for the year ending
Jane 30 the directors congratulated the share-
holders that, notwithstanding the low price of
Copper, they have during that period paid all ex-
Penses of working, &e. At the last annual meeting
they were indebted to their bankers in London
£1,242. After payment of this account there was
a cash balance in favour of the Company on the
30th June of £612. The total receipts from all
sources, including cash and hills in hand, have
been £20,582, and the total expenditure for

working expenses has been £19,972, leaving a
balance of cash in hand in London and in the
Colony of £609. By the May advices the re-
Serves were estimated to be in excess of the out-
Standing last year, and the Committee are sanguine
that, commencing the year with a clear balance
sheet, the result will be satisfactory to the share-
holders.

' From the manufacturing districts the accounts
state that during the past week there has been
rather more activity in several departments of trade.
At Manchester, owing to the large imports of cotton,
most kinds were a shade cheaper. In cloths and
Yarns buyers operated to a moderate extent, the
demand being chiefly for descriptions suitable to
the Indian markets. For home requirements, how-
ever, there has only been a limited demand. In
the woollen trade of Leeds, Bradford, and lludders-
4.eld there has been rather more animation,
there having been a moderate inquiry for winter
fabrics for the Canadian and German markets,
although the demand from the home trade as yet
remains inactive. The hosiery and lace trades of
Leicester and Nottingham have shown some slight
ialprovement, and few orders have been received
from France, the United States, and Canada. In
the hardware districts there has been a more cheer-
ful tone. At Birmingham, Sheffield, and Wolver-
hampton a more cheerful tone has prevailed, a few

lt,nore orders have been received on Continental ac-
and it- -41. f,, demand for railwayiron for India
usuris :,up1.1113 JCL 'ALAVA= Au au..
employment.
:There were no gold operations at the Bank of
England, on Saturday.
The Deutschland has arrived from New York,
with £13,000.
Atlantic and Great Western Railway Deben-
turest remain steady, at 21 26 ; and the Consolidated
'ortgage Bonds, at 24 22k.

Two O'CLOCK.

The extraordinary favourable weather for all
ngricultural purposes, the settled position of home
and foreign politics, and the indications manifested
i
many departments of trade are quietly promot-
sag the value of Consols, New Threes, and Reduced
be their proper value in relation to the discountable
for loanable value of money. Consols are 941
4or _
y,
ueand 941 1 for the account.
The New
Threes are 941 / ; Reduced An-
-4:141%i, 94i ; Bank of England Stock, 262 60 ;
and India 5 per Cents, 1880, 113 12k.
where is still an upward tendency in the Foreign
department of the Stock Exchange. Italian have
advanced it, to 48i 1 ;
_Spanish Passive 1, to 2111;
Certificates 1, to 161 1; Greek 1, to 131 11 ;
urkish 5 per Cents. 1, to 311 1 ; but Chilian
Scrip has declined 1, to 34 11 dis.

American Securities are steady. Erie shares are
10;51 46} ; Illinois, 77 78 ; and United States
.5-20
—ends, 3i I.
. A fair amount of business has been transacted
111 the Railway Share Market, and prices generally
have shown a further slight improvement. Great
pastern have advanced ; •Great Northern, Great
estern, Lancashire and Yorkshire, and South-
kaee,tera each ; North-Eastern, Berwick, 1} ;
Lon, 'roPolitan and Midland each 1; and Brigh-
: he Foreign and Colonial lines exhibit little
krage of importance. Great Luxembourg are
ed 101; Recipe and-San Francisco, 91-; South
t2rnstriair and Lombardo-Venetian, 141; Great Wes-
of Canida, 151 ; East Indian, 109 109/ ;
and
eat Indian Peninsula, 1071
t;O4 411 k Shares are dull and without much varia-
".l3,..

4b4nii.seellaneous and Finance Shares continue at
Cents. Previous values. Atlantic Telegraph 8 per
—`3. are at 73.

AIMING MARKET.
MONDAY AFTERNOON.
thek 4101 orate amount of business has been done in
illatlet to-day, and prices aro steady. An-
e'lll.(l are the current quotations :
Citti.ov°rt°ll Moor
(13iirrtlotttlom Gold
41 4i
tbitfit Aznalgamato 64
'4ABt 488 et
71radoo
1.1E4 ovoll
1 11
*rat
1414410 Y
tiNat ~-"e3tallick-
ItArk " Vor Hi 17
11'41;1(,74% .....
softy
31 81

North Troskerby 1
Prince of Wales 55s 6d 57s 6d
Providence Mines
South Condurrow... lls 13s
T incroft —
West Chivortou 6l 66
West Seton
Wheal Basset ......... --
Wheal Buller
Wheal Chivorton 6l 7
Wheal Grenville 108 15s Od
Wheal &ton

4 tRITISII FUNDS—T NVO O'CLOCK.
a '4SITERNIIEN
I)er TFUNDS.
u_
1
00 "Ut• Consols
94
pe: Account, Sept. 10
I 1
I,4virt- oiat. Reduced -
1 I
New 2.,Per Cent i.
91 1
_
00. 4 Per Cent. Jan. 1894
.....
An .ilinties,° Per Cent. Jan. 1873
h 30 "expire
expire sth Jan. 1880
13°'(Red Sea 2 "expire sth April 'lBB5 —
Tele6raph), Au,.,
nOB.
tto,
me..4uor Bills, £l,OOO ll_arenp.in
.I.JO
°f
.£5OO
taLtik.be.
£lOO & £2OO - pin
135 Ac cou Engutland Stock, 51 per Cent
262 60
.
14,1 i„ 14intAN UOVERNMENT SECUR7IES.
Cu Si,(Jek, 101 per Cent., April 1874... _
0,0). ;.A.ecount
i)•
') 4 Per Cent. July, 1880
per Cent 888
100.
raCei:tificates" Oct.*
--
• Hated Paper 4 per Cent —
Jit)°). 5 per Ceut., Jan. 1872
. •51 per Ce 4 stay 1179.
De, Dl, th.,
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