The Sun.
London, England, 1867-06-12 00:00:00

i[ONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

TWELVE O'CLOCK.

There has been some conversation in the city to-
day anent the probability of the minimum rate of
discount of the Bank of England being reduced to
2 per cent. On good commercial bills money is
not worth more, since large sums cannot be got out
in such security at 2i per cent., the demand, too,
is small under a corrected trade, the inflation
which prevailed twelve months ago having been
succeeded by steady mercantile operations more in
accordance with the principle of supply and demand.
The issue price of the new stock is fixed at 40.
The result of the operation will be that the existing
stocks are converted into a Three per Cent. Conso-
lidated Stock at the following prices :—First-class
Interior and Deferred of 1831 at 48, second-class
Exterior at 32, Second-class Interior at 25.

Atlantic and Great 'Western Railway Debentures
remain steadyat 30 32, and the Consolidated Mort-
gage Bonds at 24 25.

There were no gold operations at the Bank of
England yesterday afternoon.
The polling of the shareholders of the National
Provincial Marine Insurance Company (which
stood adjourned from the general meeting of
Thursday last) took place this day, the result being
a very large majority for continuing the business,
and requesting the directors to ask the Master of
the Rolls to dismiss the petitions presented by Mr.
Hodge, solicitor, and Mr. M'Allum, both of New-
castle-on-Tyne.
The 31st annual report of the South Australian
Company, just issued, states the general condition
of the company continues to be satisfactory, though
some of the sources of revenue were affected by
the monetary disturbance last year. There has,
nevertheless, been an increase of £227 in the rental
over the previous year. The income of the year,
including profit on sales of land, appears, after de-
duction of home and colonial charges, to be
£30,170 17s. 2d. From this sum the Directors
recommend that a dividend of eight per cent.
per annum, free of income tax, be declared payable
on 15th July and 15th January next. They also
recommend that a bonus of two per cent. or 10s.
Per share be paid to the proprietors on the 15th
July. This bonus is derived from the surplus profits
of the years 1864 and 1865, which the directors
did not feel justified in dividing until they were
satisfied that the increased income of the company
Would probably be maintained.

Two O'CLOCK.

According to Reuter's telegram from Paris to-
day, the French Rentes were 70fr. 50c. Scarcely
anything doing.
Despite the efforts of the " bears" Consols con-
continue buoyant. Nothing but a political cata-
strophe can check the flow of investing capital into
the Funds, and Governmental securities generally.
Until the 3 per cents. attain a higher quotation
there would appear to be very little chance of per-
manent taxation. Foreign Bonds,too, nust command
it higher level, as well as all colonial and other
guaranteed stocks. Railways, likewise, though
some of them may be financially distressed, possess
substance, and therefore quite different from asso-
ciated enterprise, subsisting only upon its credit in
the market. Consols, notwithstanding frequent
sales to realise profits, arc exceedingly firm ; the
latest prices are 94j 95 for money, and 95 If for the
account.

The New Threes are 934 99 ; Reduced Annuities,,
934 941; Exchequer Bills, 25 per Cents. for June,
18s. to 225. prem. ; Bank of England Stock, 2545
255 ; India Stock, 220 ; ditto 5 per Cents., 1094
1095.
In the Foreign Stock department considerable
buoyancy has prevailed. Spanish Passive have
advanced 1, to 25 ; Certificates 4, to 14 4, 4 ;
Greek 4, to 15 4, 16 ; Italian 4, to 52 1, ;
Mexican 4, to 17 ; Turkish 5 per Cents. 4, to
31 5,4; Russian Scrip 1, to 1, 1 prem.; and
Chilian Scrip 4, to 15, 2 prem. ; but the New Rus-
sian Railway Loan Scrip has declined 4, to 4, 14
Prem.
The Foreign and Colonial linos show little
Change of importance. Great Luxembourg have
receded to 114 ; San Paulo receded at 17 ; and
Bahia and San Francisco at 131 ; Bombay and
Baroda are steady at 1031 104 ; and Great Indian
Peninsula at 112 1121 ; and Great Western of
Canada at 144.
American Securities are steady. United States
5-20 Bonds are 724 73, and Illinois 781 79, show-
ing no change ; but the Erie shares have declined
4, to 394 404.
Bank shares are very quiet, London and West-
minster being flat at 105 107. Alliance remains
*ln at 184, and London and County at 594.
. A very moderate amount of business has been
transactei in the Railway Share Market, and prices,
which opened with considerable firmness, have
subsequently slightly given way upon a pressure of
Bales. Midland and South Eastern have each im-
lproved 4, and Metropolitan, 4; while Great Eastern
4ave declined 4, and Brighton, Caledonian, and
Lancashire and Yorkshire, each receded 4.

:ellaneous and Finance Shares continue inactive
at about previous rates, Hudson's Bay Company
being dealt in at 164 ; Fore Street Warehouse, at
12 ; Credit Foncier of England, Si 4 ; Ocean
Marine Insurance Company, at 19i f ; and Penin-
sular and Oriental Steam at 47.

MINING MARKET.
WEDNESDAY AFTERNOON.

In the market to-day the dealings have again been
extensive. The shares chiefly dealt in were Prince
of Wales, Great Retallick, Great Vor, Great Laxey,
fuller, West Prince of Wales, Grenville, Chontales,
and Clifford. Annexed are the latest prices :
Chiverton Moor 551 Marke Valley
eho_ntales Gold
el 4 4 North Crofty
, Mord Amalgamate 34 4 North Treskerby ll 11
V.evon Gt. Consols... Princeof Wales 59s0d 61s Od
-East Basset l6 18 Providence Mines ... 29 31
East Caradon 5l 6 Tincroft
East Lovell 8 81 West Chiverton 66 68
East Rosewarne — West Pr. of Wales... lOs 15s
East Russell
Great Laxey lBl 19f Wheal Buller 24 26
Great Retallick
Great Wheal V 01.... 191 201 Wheal Seton ll7l 1221

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
3 par tient. Consols
Do. Account, July 10
8 per Cent. Reduc4d 94 31 4 3
New 3 per Cent 94 1 3i 41
New 21 per Cent. Jan. 1894
Do. b per Cent. Jan. 1873 lO5l
Annuities, 30 yrs, expire sth Jan.' 1880
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Telegraph), Au,,., 1908 —
,
'lehequer Bills, £I,OOO
Do £5OO
Do. £lOO & £2OO pm
AnDo. Advertised
-6k of England Stock. 5} per Cent
INDIAN GOVERNMENT SECURITIES.
'4414n Stock, 101 per Cent., Apri11874.,. 220
Do. Account
13,-,°. 5 per Cent. July, 1880
ur,n. 4 per Cent, Oct. 1888
'JO. Certificates —
,Do. Enfaced Paper 4 per Cent —
D 0.3-/
5 per Cent., Jan. 1872
'''°. 6-/ per Cent., May 1879 —
O. Deb., 5 per Cent., Aug. 1873
O. Bonds, 5 per Cent., £I,OOO
FOREIGN FUNDS—CLOSING PRICES.
rgentine Republic, 6 per Cent —
Brstrian n
Bonds, 5 per v....c, 1859
azilias per Cent —
13°. 4} per Cent., 1852-58-60
IL. 1863
D
D°. 5 per Cent., 1865
A
o --Ceotialt 76 5} i
.14 130. £l6O Bonds
--,netr,,
,:, Ayros 6 per Cent —
Ct' 2 per Cent. (Deferred 3 per Cent )
'than 6 per Cent. lOl
Do
.. •41 per Cent —
Do.
6 Per Cent A •
'OO.
Do. I / B
Do: u 1867
C'l Ib. ~ Scrip, £4O paid —pm
Cub
n lan, 6 per Cent.
D
La°3, 6 per Cent.
135113 per Cent., 1825 —
DA I.
5 Der Cent., 1864 ..
411biall P• • I 7 Cent
DODo nncipa iti3s, per
Do. 8 1867
F, ii,(4' Do. Scrip, £35 paid dis
4 g.zapii9arriNie w Consolidated, 1 er Cent —
per Cent B3} 1
„o. Second Issue
"Jo. £lOO Bonds
b°."°- Do
41' • 1861 —
~,,u0 Bonds B3l
'LP° Government Railway Debeilitiros,. 85 41 1