The Sun.
London, England, 1867-03-29 00:00:00

MONEY MARKET

A ND

COMMERCIAL INTELLIGENCE,

TWELVE o'CLoCK.
The approach of the end of the financial year has
caused an increased demand for discount accommo-
dation, and the available supply having in some
measure been curtailed, greater firmness has pre-
vailed in the general market, the rates current for
first-class short-dated paper being 2i 3 per cent.
Yesterday there were no gold operations of
importance at the Bank of England.
The Great Britain has arrived from Melbourne
with gold to the amount of £236,000.
The Bank of England return is to a certain ex-
tent of a satisfactory character. The stock of
bullion shows an increase of £165,786, while the
increase in rates exhibits a decrease of £331,360.
Owing to an increased demand for money there has
been an addition to the other securities of
£1,141,251.
Annexed is the usual analysis of the Bank of
England return :
Public Deposits...
Other Deposits ...
Rest

£9,323,556 Increase ...£543,057
... 17,169,81:2 Increase 214,•217
... 8,882,192 Increase... 8,413

On the other side of the account :
Governmont Securities £13,111,068 No alteration.
Other Securities... 20,017,989 Increase £1,141,251
Notes unemployed ... 11,246,455 Decrease...£33l,369
The amount of notes in circulation is £22,337,715,
being an increase of £487,830 ; and the stock of
bullion in both departments is £19,627,232, show-
ing an increase of £165,786 when compared with the
former return.

Business in the Foreign and Colonial Produce

Markets during the last few days has remained very
inactive. The operations in sugar have been very
restricted, and prices have tended in buyer's favour
superior descriptions of coffee, however, have com-
manded full rates, while rice, fruit, and spices have
been without material change as regards values.
Tallow has also been in limited demand at slightly
reduced quotations.
The Bank cf France return for the past week,
as compared with the last return, gives the fol-
lowing alterations the bills discounted there is
an increase of £36,000 ; cash in hand, £512,000 ;
notes, £220,000 ; Treasury Balance, £32,000 ; and
in the current accounts, £333,320. There has also
been a decrease in the advances of £26,640.

The Board of Trade returns for the two months
ending the 28th of February have been published,
and show the total exports from the United Kingdom
during that period to havebeen £27,232,914, against
£29,970,811 in the correspanding period of the pre-
vious year, and showing a falling off of £2,237,297.
The imports in several of the principal staples have
also been smaller as compared with the like period
in the previous year, viz., in raw cotton, cocoa,
wheat, wine, and unrefined sugar. The shipping
accounts also exhibit a slight falling off in the
amount of tonnage employed in the foreign trade,
for both entries inwards and the clearances out-
wards ; while in the coasting trade during the same
period a similar result is apparent.
Messrs. Chtistopher Newton, Brothers, and Co.
have issued the following circular, announcing the
necessity of suspending their payments, and re-
questing the indulgence of their creditors. It is
stated that there is a very large surplus, the liabi-
lities being estimated at about £240,000, and the
assets at about £430,000 :
" 17, Gresham-street West, E.C., London,
March 28, 1867.

" We regret to state that in consequence of the failure of
Messrs. F. Goodyear and Co., whose estate is largely in-
debted to us, and from the inadequacy of remittances from
Australia to meet our engagements, we have consulted
some of our principal creditors, and, under their advice,
have determined to suspend payment.
" Our books have been placed in the hands of Messrs.
Honey and Humphrys, accountants, who will prepare a
statement of our affairs and report thereon as soon as pos-
sible. Meanwhile it may be satisfactory for you to know
from us that our estate will show a large surplus over and
above the debt owing by Messrs. Goodyear and Co., and
that we contemplate being necessitated to ask for an ex-
tension of time only from our creditors.
" We are, yours respectfully,
" CHRIST. NEWTON BROS. AND CO."

At the meeting held to-day of the English and
Scottish Marine Insurance Company the report of
the directors stated that the balance on Underwri-
ting and Interest account amounted to £10,901,
exclusive of the paid up capital. The directors re-
gretted that owing to the unusually heavy losses
during the past year they do not consider it desir-
able to distribute the balance of interest.
Mr. James Phillips, sworn broker, has issued a
circular, stating that the partnership hitherto sub-
sisting between himself and Mr. B. S. Phillips has
been mutually dissolved, and that in future he will
continue his business as money dealer and discount
and exchange broker at 36, Throgmorton-street.
The report of the British American Land Com-
pany, submitted at the meeting to-day, stated that
the available balanne in hand in London, at 31st
December last, was as follows :—Balance at bankers,
£961 Bs. 3d. ; on deposit account, £5,000 ; total,
£5,961 Bs. 3d. From this balance the directors re-
commend the payment of a dividend of 15s. per
share.

A meeting was held of the Ottoman Railway,
from Smyrna to Aidin. The report for the half-year
stated that the Imperial Government had accepted
the whole line undertaken by the company, which
has been worked regularly from the Ist July, 1866.
A convention had also been entered into with the
Government, which guaranteed the payment of
£112,000 per annum from the Ist July last, and the
company is thereby authorised to issue preference
shares for the sum of £300,000 sterling.

Two o'CLocK.

The transactions in tha Market for the English
Funds have been on a very moderate scale, and
prices exhibit a slight depression. Consols for
money have receded k, to 91k 1, and for the ac-
count they are also k flatter, at 911 The New
Threes and Reduced Annuities are 89k 13. ; Annui-
ties, 1885, 12a ; do.
,(Red Sea Telegraph) 191;
Exchequer Bills for June 14s. prem. ; India 5 per
Cents., 109/ 1101; do. Debentures, 103 ; and do.
Bonds, 455. 48s. prem.
Business in the Foreign Stock Market has shown
symptoms of improvement. Greek have advanced
/, to 151 1 ; Spanish Passive 1, to 211 1 ; the
Certificates 1, to 134 1 ; Chilian Scrip 1, to 21
1 dis. ; and Russian Scrip it, to 24 / prem.
Italian continues at 534 ; Turkish 5 per Cents.
at 29k 30k ; and Danubian Scrip at 11 11 clis.
The Foreign and Colonial lines are in very
moderate request. South Austrian and Lombardo-
Venetian remain at 161 9-16ths ; Great Luxem-
bourg, at 91 10 ; Antwerp and Rotterdam, at 84 ;
Great Western of Canada, at 13/ .1 ; East Indian,
at 108 1 ; and Great Indian Peninsula, at 108 1.
For American Securities there has been a very
moderate inquiry, although prices have remained
steady. United States 5-20 Bonds improved 1, to
744 75k; Erie Shares remain at 38} 39; and Illinois
Shares at 78k 79.
In the Railway Share Market the dealings have
only been to a moderate extent, but in a few in-
stances a firmer tone has prevailed. Great Northern
and Brighton have each advanced 1, and Lancashire
and Yorkshire k ; while Metropolitan have been
flat, and receded 2 ; North IVestern also have de-
clined ; Caledonian, Midland, South Eastern, and
a few others remain at about previous rates.

Bank Shares have been dealt in to a moderate
extent, and prices generally have remained firm.
Alliance are dealt in at 15+ London and County
at 54 57, London and Westminster at 924 s, and
Union of Australia at 57+.

MINING MARKET.

FRIDAY EVENING.

In the Mining Exchange business has been mo-
derately active. The shares chiefly in demand have
been Prince of Wales, West Chiverton, Seton, Great
Laxey, and East Basset.

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDF.
3 Der Ueut. Consols
Do. Account, April 10 9l
3 per Cent. Reclued B9 a
New 3 per Cent B9i }
Now por Cent. Jan. 1894
DO. 5 per Qout. Jum. 1873