The Sun.
London, England, 1866-10-27 00:00:00

Such a contingency is to be regretted more than
in one light, and it is to be hoped that the supplies
of cotton coming forward from Egypt and India
will be abundant, and that America, too, will be
able to export a larger quantity than was recently
expected, and thus render increased work for the
operatives, who will have
,to pay a higher price for
the staff of life in consequence of the deficiency in
our harvest. Regarding our stock of bullion in this
country it is larger than for a considerable time
past, and owing to this circumstance, as well as to
the very light demand for accommodation, it is not
improbable that in the course of the ensuing week
the official rate of discount may be lowered to 4
per cent. During the past two days the inquiry
has been rather active, in consequence of the Indian
Bills, which became due yesterday, and the antici-
pated reduction. To-day the inquiry has been very
moderate, and the best commercial bills have again
been negotiable as low as 3i per cent.
The official liquidators of the Commercial Bank
Corporation of India and the East has issued a report
to the shareholders. It shows approximately that
the total debts on Suite 30 were £3,150,839, with
assets amounting to 23,332,447, leaving a probable
surplus of £181,608, subject to several possible re-
ductions for expenses, interest, &c. There is there-
fore a chance that instead of the shareholders being
called upon to sustain a deprivation of more than
their capital and reserve they may ultimately
receive a small amount back. With regard to the
Payment of a dividend to the creditors the report
States :—" Since the suspension of the bank large
amounts of cash and bills have been received, and
there is every probability of a considerable dividend
being declared early in next year, especially if the
funds accumulated at Bombay are sent home in
accordance with my instructions. The claims for
dividend will, it is estimated, be reduced by sets-
off to the sum of £2,500,000, or thereabouts, and
the funds in the Bank of England in cash and in
bills, which will shortly be available, amount to
£750,000, and remittances are expected from
the branches, including Bombay, to the amount of
£600,000, making together £1,350,000. W
these hen
sums can be dealt with and the claims have
been adjudicated upon, the dividend will be de-
clared. A further dividend will depend upon the
Progress to be made in the realization of the assets
ill China and India. Every exertion shall be used
earliest rBl ieeest it
re the full discharge of the liabilities at the
Possible date ; but, having regard to the
nature of the securities to be realized, and the large
amount of claims upon insolvent estates, the time
nenecessary for effecting this result cannot yet be
defin ed.
The movements of the precious metals during the
past week have been on a rather limited scale. The
imports have only amounted to £203,470, includ-
ing £14,390, from New York, by the Saxonia ;
9,810, by the City of New York ; and £15,440 by
the Bremen. The Queen of Nations, from Aus-
;rnadliraia),hzas2,bBrooourt £93 , 000 ; the Pera, from tAlex-
and about £68,000 in silver has
savereceived from the Continent. The exports
aye been £lO,OOO to New York, by the Fulton ;
athnd there have been remittances to the Continent
the
private sources estimated at £190,734 ;
inel,total amounting to £200,734:
b committee appointed by the six Australian
ta„n"-J3 (Bank of New South Wales, Bank of Aus-
ir aniar Union Bank of Australia, Bank of Victoria,
t "on Chartered Bank of Australia, and Colonial
faiLk of Australasia) as agents in this country
vue Government of Victoria (Australia) for the
7.egotiations of the loan authorised for the Public
•ae1.8411 Act, 29th Vic., No. 287, assented to Oct. 12,
the
tc,s, to be effected by the issue of debentures to
ralouut of £850,000, bearing interest at the
X5—
00°f 6 Per cent, per annum, in amounts of £lOO,
dat -S
and £l,OOO each, secured upon the consoli-
de- revenue of the colony of Victoria, and re-
eentable
oil Jan. 1, 1891, have given notice that £gso es
Will be received for the entire amount of
to ,°OO at the London and Westminster Bank, up
next O'clock on the afternoon of Monday, Nov. 5
of en' nw,hen they will be publicly opened. In case
jean tenders beyond the amount to be
4 deed they
will be subject to apro rata diminution.
tender of 5 per cent. on the amount of each
` must be previously paid to the London and
interest
rtminster Bank. The debentures will carry
livfronl the Ist July last, and will be de-
Pa Li to the subscribers on the 30th Nov., upon
44viarent of the balance due thereon. The act pro-
For" tha.t the loan shall be applied as follows :
the
tnwo completion of the State railways, £250,000;
teeti tithe works of defence necessary for the pro-
towards fthe colony against invasion, £lOO,OOO ;
waters
aQ,Zthe construction of works for supplying
to various districts in Victoria, for mining,
t:ta"iculturai,
and pastoral purposes, £500,000
re'
ven e 850,000. The prospectus states that the
antrum of Victoria exceed three millions per
egpe and have always been sufficient for the
visionditure, which includes annually a large pro-
the 11 for public works calculated to develope
rail great natural resources of the colony. The
are aYel for the completion of which £250,000
on trhecluired, are already producing 41 per cent.
the e cost of their construction, after paying all
for
masking expenses,
which include full provision
steehl4,aintaining the permanent way and rolling
4, in the highest state of efficiency. It is con-
willntly expected that in three years the railways
vhhlreturn, over and above working expenses, the
tha- e amount of the interest of 6 per cent. paid for
ao,,,innneY borrowed for their construction. The
pen £830,000 of £830,000 has been from time to time ex-
the from the ordinary resources of the colony in
has been
and maintenance of works of defence.
vthereyabeeen determined by the Legislature that the
verapleted amount of property at stake requires
e_at theharbour defences of Melbourne shall be
I and £lOO,OOO are required towards
44t,ftt object. The climate and soil of Victoria
pret for the production of all that can be
atintably grown in Southern Europe, but a regular
of water is essential for the development
eone of the agricultural, mining, and pastoral re-
re7nn of the country, and for this £500,000 are
atell'rcl• The city of Melbourne and its suburbs
for tITIPPIied with water from a reservoir constructed
take e
at PurPose, and although the work was under-
-8 it time when labour was dearest, it returns
Pellr cent. on the original outlay.
enin of £48,000 in gold was taken to the
'4 Yesterday, including 37,000 sovereigns.

Two O'CLOCK.
th-&Ce°rding to Renter's telegram from Paris to-day
rench Rent-Rs were 69f. 10c.
bo'Lle settlement of the account in the foreign
the
anin "8 and shares of all classes having commenced
unt of business negotiated at the Stock Ex-
change has to a large extent been merely of a formal
0 aacter. Very few new engagements have been
tePeeed, except in connection with the account now
arralhinating• The rates charged for " carryingover"
Cobh—n, heavy, owing to the abundance of money.
41-4°lB remain particularly firm at ni for
41,°,111eY) and 89i k for the account. The New Threes
each zteduced Annuities remain steady, and have
t been dealt in at 87k ; Exchequer Bills re-
2Vn at Par, to 4s. prem. ; Bank Stock is steady at
°/, and the 5 per Cent. Indian Loan at 106 k.
Foreign and Colonial lines are in very limited
East"es and showed little variation of importance.
maul lndian are marked 1031 ; Great Indian Pen-
a) 1061 ; Madras 5 per Cents., 1001 101; and
`ireat Western 0 Canada, 121 f•