The Sun.
London, England, 1867-02-21 00:00:00

1101T1-iIY MARKET

AND
COMMERCIAL INTELLIGENCR,

TWELVE o'CLocx.
There is a steady business going forward in dis-
count circles, and the rates for all classes remain
without the slightest alteration of importance.
At the Bank of England yesterday there were no
gold operations.
The biddingg for £350,000 in bills on India took
Place yesterday at the Bank of England. The pro-
portions allotted were--to Calcutta, £197,840; to
Madras, £2,160 ; and to Bombay, £150,000. The
lailainaum price was fixed at ls. 11. d. for all the
Presidencies—an advance of a half per cent., and
tenders at that rate on Calcutta and Madras will
receive about 63 per cent., and on Bombay about 42
per cent. These results show a further moderate in-
crease in the demand for means of remittance to
the East.

Messrs. Seymour and Elwyn, of the Stock Ex-
change, in their weekly circular, state as follows :--
"The state of the money market during the past
Week has been somewhat chequered. For a few
days there was a decidedly increased demand for
discount through the falling due of a large number
of Indian and Australian bills. Nevertheless, in
thel general market the rate for the best paper
has not reached the Bank minimum of 3 per
Cent., but has varied between 21 and 2i.
At the Bank itself the business done has
been exceptionally small. Thus the main features
of the Money Market are practically unaltered.
Every now and then some little increase of de-
fland arises, but it is soon recognised as being
Merely
temporary. A movement of this sort may
be expected now. The Fenian disturbance has
caused the -withdrawal from England of balances
employed here by continental bankers and mer-
chants. The foreign exchanges are consequently a
shade
weaker, and some small amounts of gold may
be taken from the Bank. The available supply of
capital, however, will not, in reality, be appreciably
affected. For months past it has been much iu excess
of the requirements of the day, and there is no sign
that the over-abundance has been diverted else-
where. A striking proof of this fact is shown by
the little influence caused by the subscriptions for
the Chili= and Russian Loans, and the propositions,
actual or prospective, of several other needy Go-
vernments. The public appear able to part with
Many millions in operations of this nature without
inconvenience. Of course it would be far better that
fortunately
these accumulations should be used at home, but un-
the present condition of trade forms a fatal
bar. A revival from the stagnation produced by
the late crisis is as vet distant. The period of
transition that always follows a great commercial
convulsion is likely to last for some time longer.
On the Stock Exchange the supply of money has
invariably been abundant. In the past week there
was for a time a slightly augmented inquiry for the
foreign clock and share settlement, but this is only
an ordinary feature on such occasions. The rates
for
leans on
Government securities are little more
than nominal, 2 per cent. being the usual charge,
although in some cases 21 has been obtained.
alkeustral,ian
,At a meeting held to-day of the English and
Copper Company the accounts pre-
abuted by the directors to the 30th June, 1866, ,
,ed a real profit of £3,324 applicable to
sat.tvidend. The dividend declared was ls. per
vhare, payable on the Ist of March. In coaclusion,
the directors state that copper, which was quoted at
fall Per ton at the beginning of February last, has
c_ en) during the year, as low as £B2 per ton ; and
2nnot now be quoted higher than £B5 per ton. The
t3l.l3bught Australia had caused the price of fodder
adA raised very considerably during the whole year,
,v,".ng greatly to the cost of the company's cartage;
aNnifst the monetary crisis in England could not but
eiffleilet the interests of the company most prejudi-
pointthala
bY depressing the copper market to a lower
has been known for the last 16 years,
do by embarrassing the ordinary financial opera-
sof business. Nothing but the economy intro-
ducedAtia into the working operations of the company in
tralia--the full effects of which have been felt, for
_Lilac
_first time, in the year under review—could have
s'et_ de head against such a current of adverse circum-
2nces ; and it is the knowledge of that fact which
encourages the directors to hope for a better future.
c_r A.meeting cf the bond and debenture holders,
echtors and shareholders, has been convened by the
committee of investigation, of the Atlantic and
Great Western Railway, to be held on Tuesday,
the sth March, at the London Tavern.
to T. last week's Railway receipts, ascertained up
this day, are iu round figures as under :
gNorth reat Western 1867. 1866.
... 65,040 63,514
y'estern •••
...108,969 105,721
iir°i"lgtil;ltoViaestern 20,766 19,842
Isl4ldiand •••
•••
•••
•••
•••
F0'847420 41'9241
uth Eastern ,
17,712
,an'rut Northera ••• 20,7353626 33,519
e ••• •••
slot aaneashire and Yorkshire... ..• ... 43,580 40,842
North pansdteErnxe ter...
5,809 5,453
Manchester, Sheffield, andlineoin •
•••
65,593
61,63121
Great Eastern . 20,85982
227 82 011'05
London, Chatham, and Dover 8:357 7:705
The returns, when compared with those of the
corresponding period of last year, are generally
of a very satisfactory character. On the Great
Western there i 8 an increase of £1,733 ; on the
IcTorth-Western of £3,218 ; on the South Western
of £924 ; on the Brighton of £1,921 ; on the Mid-
land of £2,198 ; on the South Eastern of £3,023; on
the Great Northern of £2,742 ; on the Lancashire
and Yorkshire of £2,738 ; on the Bristol and Exeter
of 356; on the North-Eastern of £3,962; on the
the
Great
Sheffield, and Lincoln of £744 ; on
`ue Great Eastern of £216 ; and on the London,
Chatham, and Dover of £652.

Two o'CLOcir.
as
'Towards the close of business yesterday therewhas an inaprovement in the Funds, but to-day there
been a reaction to the extent of 1 per cent. Consols
41..„901 4 for money, and 904 91 for the account.
'lle Principal feature in the Foreign Stock Mar-
Stk has been a decline of 24 in the value of the
behilian Loau Scrip, the price now being 3 2/ dis
aaubian Scrip has also declined i, to par to 4
pram, Turkish 5 per Cents. are 4 lower, at 301 1;
fibutl Italian had advanced 4, to 534 i ; Greek 4, to
-*N-g 11; and Russian Scrip, 4, 24 4 ; Mexican are
I ,
C ' 46 171 i ; Spanish Passive, 224 i ; and the
-e,rtifierats4, at 154 4.
done‘lla a moderate amount of business has been
st et,ll British Railway Shares, but in a few in-
Great Prices
Northern
Galle— Puce% are a. shade firmer. Great Eastern,
While South Eas
wilor.kshire, and , Great Western, 'Lancashire and
Midland have each improved 4,
litan i. tern kayo decline • d 4 and Metropo-
-03:111e Foreign and
Colonial lines remain without
lasiof importnce. Great Luxembourg are 12,
Indi a.,111° 138, Grand Trunk of Canada 214, East
A-„,--11 46i, and Great Indian Peninsula 1054.
notcTerican Securities are flat. United States:s-20
eked
Shares are
37 1 have declined 1, 73! 4 ; Eric Shares, 4, to
11; and Illinois Shares are 774 78i.
are
quiet. Bank of Egypt
1.40,,ded 32i Imperial Bank have improved to 23d4 n;
to 4,°e Joint Stock, to 434 and Union of Lon o
1 4.
It4eell
fqii. deismll4 and Finance shares continue in
Tl_ dat steady rates. Anglo-American
31 r aph being 154 4 ; Credit Foncier of England,
Piol,,' lludson I 3 ay Company, 16 ; International
21
.4ncial, ,„ ;
amid 7. Rio de Janeiro Improvements, 204
A.tort advanced
ktai-- Long;
General Omnibus Company, 34.
ilave 411 tie and Great Western Railway Debentures
1, to 28 30, and the Consolidated
gage Bonds 1 to 22 23.
BRIT

4.811 FUNDS—CLOSING PRICES.
I:loyßit
bar c 1114ExT UNDIJ
en& co •
a°. Ace 9Ol 1 901-
Per Consols
Ilpr
90}
Ne, Ited ch 7
ktvo.23,ippereroceentltut.e,tjclan.. ...
.............
413-404.ii:lierPRe,3roaneyurt,::jo..1.11p.tre8;53th Jan., 1880
1,111:In. (Red
is,yars4,o;xpire sth April, 188'5 —
Dc,`."qller 2i)graPll), Aug., 1908
..............
450,0000, per Cent
...... ......... 71 13 17 pm
.... 410 & 2,00 thlglanao Stock, 6i per Cent 254 2