The Sun.
London, England, 1866-10-19 00:00:00

NONE-Y MARKET

AND

COMMERCr.,....L tiCTELLIGENCE,

TWELVE O'CLOCK.
There is no apparent change -in the immediate
condition of the Discount Market, yet it is thought
that an alteration will take place in the course of a
few weeks. Trade requirements are likely to in-
crease, since it is seen by the daily accounts from
almost all the manufacturing districts that orders
on home as well as on foreign commission are more
numerous than they were a few months ago.
Operations in most quarters are being conducted
in a very quiet way, and the prevailing low rates
for monetary accommodation fail for the time to
induce anything like excessive speculative adven-
ture. Other reasons may be given for
the probability of an upward movement in the
rates for bills. Corn and cotton are required in
large quantities, and specie will leave the country in
payment. Already there is an outflow, as must have
been observed by all interested in the subject, from
reports of the Bullion-office of the Bank of England.
It is true that only £145,000 has left this week at
present, but to-day and to-morrow further sums
may be despatched, the destination being eastwards.
Reasonably assuming that the efflux will continue
Owing to the reasons assigned, viz., corn, cotton,
and expanding trade, it can scarcely be expected
that the existing terms for loans and discounts will
be quoted after the lapse of a few weeks.
To-day the Money Market is plentifully supplied,
and the rates are as low as 4 to 41 per cent., with
few borrowers.
The traffic for the week ending 18th August, 1866,
on the Eastern Bengal Railway has been £2,463,
against £1,909 in the corresponding week of 1865.
On the lines of the Piedmont Railway the traffic for
the week ending 30th September was £17,944,
against £24,906 at the corresponding period of
1865, showing a decrease of £6,962. On the rail-
Ways of Southern Austria, Lombardy, and Central
Italy the receipts for the week ending 30th Septem-
ber were £66,273 on the South Austrian line against
£49,243 at the corresponding week of 1865 ; and
on the Lombardo and Central Italy line £19,699
was received against £14,970 at the corresponding
period of 1865.
With regard to the progress of trade it is satis-
factory that the protracted strike at Middlesboro'
has been checked by the resumption of work at the
mills of Messrs. Hopkins, Gilkes, and Co. These
little events point not only to the prospect of in-
creased commerce, but also to the moral force em-
ployed by the present Government in suppres-
sing disaffected people who do not consider
their own interests. With regard to the
mills referred to the Newcastle Chronicle
states as follows :—" The half-dozen furnaces are
being worked by under-hands, and to-day (Thurs-
day) several others are to start. The Union men,
however, remain unaltered in their resolve to stand
out against the proposed reduction of their wages.
We regret to add that during Tuesday night a most
disgraceful trick was perpetrated by some malicious
person. A big piece of wrought iron bad been
• placed amongst the machinery, so that when
it was put in motion the fly-wheel would
break. Suspicion is cast upon the Union
men for this. If they are guilty, they will
be very much disappointed to learn that their
shameful scheme to stop the poor under-hands and
labourers from earning bread failed, for the masters
had given instructions to their workmen to inspect
the machinery minutely before it was put in motion,
and thus the mischievous piece of it on was discovered
and removed. At Messrs. Bolckow, Vaughan, and 3
there is nothing new, neither is there any
attempt'F: to start the other works in the district ; but
the Public generally still believe that the dispute is
virtually at an end. The skilled workmen, how-
"el., Say they will not return to work unless they
get their old wages, and, therefore, the struggle
ay be continued for some time yet."
In reference to the affairs of Overend, Gurney,
an
C 0"
an application was this day made to Mr.
all , the chief clerk to Vice-Chancellor Stuart, by
o'nfethe call liquidators, for an order to enforce the payment
a against twelve shareholders of this com-
pany, notwithstanding the order of the Vice-Chan-
cellor to stay the same as aganst certain share-
holders until the 3d November. Mr. Denton, on
behalf
of
the liquidators, contended that the Vice-
Chancellor had left open the right to pursue other
shareho
lders and the chief clerk decided that the
order as gi .
Lewisstaat
Stating
against the twelve must be made. Mr.
Chan that he should apply to the Vice-
cellor, as in the former case, on behalf of such
of the twelve who happened to be members of the
..„ence
Association, to oppose the drawing up of
the order to enforce the payment of the call.
The
Ai_ fruit trade during the week has been active.
Alnleria
grapes have arrived ; some parcels sold
11 Keeling and Hunt at public sale went at prices
in character with quality. Lisbon and Malaga
luteleMons lower. Business has been done iu Barcelona
arrive, invoice ve, price being considered safe.
Stock
en hand light Para. sustain the advance in
Price, a short crop being confirmed.
1378 The following are the current prices of bullion :
ar gold, 775. 9d. per oz. standard ; do. parting,
7 n,
"lu. per oz. ; doubloons, Spanish, 745. 61
per ; do. Mexican and South American, 735. 9d.
to 7A -.sii.vpez
oz. ; United States, 765. 23d.
per oz.
bar silver, ss. ld. per oz. standard ; do. containing;
gold (5 grains and upwards), ss. lid. per oz. ; dol!
,lars, Mexican, 4s. 110. per oz •; do. Spanish Caro-
los, do. ; Portuguese crowns, do. ; sfr. pieces, do. ;
Cake silver, ss. 54d. per oz.
The Ville de Paris, one of the steamers belonging
to the Compagnie Generale Transatlantique, arrived
at Brest yesterday from New York with 192 pas-
sengers.
At a meeting held at Hong Kong, Aug. 16 last,
the second report of the directors of the Hong
Kong and Shanghai Banking Company was pre-
sented, which showed a net balance of $202,39i
86e. for the half-year ended June 30, after deduct-
ing all expenses, rebate of interest, amount
written off preliminary expenses, &c. From
the profits thus shown, the directors recommend a
dividend of $5 per share, equivalent to 8 per cent• per
annum, which will absorb sloo,ooo—and of the re-
smaining amount the directors purpose carrying
66,700 to thereserve fund (which will increase it to
',100,000), and the further balance of $45,696 86c.
forward to the credit of the new account in addition
to P 5,573 79c. being rebate on bills not due.
Within. the Gazette week there has been a large
diminution in what used to be termed the portfolio
of the Bank of England, i.e., the amount of bills
Under discount. The reserves of Bank notes and
coin have been trenched upon, because there has
been an increase in the active circulation of over a
Million sterling. Annexed is an analysis :-
4ctive Circulation
—£24,086,535
ui
11 Increase 113,370
on a.
16 133 363
Der

Best ;crease
•••
•••
•••
•••
'334,143
• 3,226,501
••• ••• ••• ••• "• -
50,524
• a ••• •••
982
Increase Public De " . ...
3'392'
posits ... ••• •
2,873,217
Decrease Other Deposits
***
•••••• - 1 323,850
Increase
632,234
... ••• •-•
..... 18,778,523
..• •••
Beven. Day and Other Bills ***
19,149
Increaso
***
• 1.) 291 426
Q°Vernment Securities ... ••• •'' '''
" *
Decrease
Oth, -

ler Securities
IToter Decrease

.127,.617
... •.• •.. •••
• ... 00* ••• 21,244,986

'a Unemployed •.•
...
...
..:
.904,5646,04,910
The Bank 4
453,665
Decrease
••• ••• ..• •••
of France for the official week has
transacted more business in loans and discounts—
a satisfactory feature, as it is indicative of extended
operation. --

-Is in some form. The cash has conse-
cir Illectly been reduced, and the amount of notes in
culation is larger.
Ile directors of the St. John d'El Rey Mining
rA°nlPanY (Limited) have received the following
m
A—ilePolst, dated Morro Velho, Sept. 17, 1866 :—Pro-
-1 0 for August, 52,016 oitavas; cost for do..
1,472 oitavas ; profit for do., 8,583 oitavas ; ice, 1p 10 days of September, 15,995 oitavas ;
yield,
)677 oitavas per ton. .

Two o'CLocK.
days According to Two
telegram from to-
the Preach Rentes were 68f. 72c.
t Mincing-lane to-day there has been an ex-
.retne degree a inactiity. The weather has not