The Sun.
London, England, 1866-10-09 00:00:00

MONEY MARKET

AND

COMMERCIAL itITELLIGENCE,

TWELVE O'CLOCK.

The commercial requirements are just now of the
most limited description, and as there is a vague
possibility of the Bank of England minimum being
reduced on Thursday, there are fewer bills brought
forward than would otherwise be the case. The
quotations for first• class paper are 4i and 4+ per
cent., and in the Stock Exchange loans on Govern-
ment Stock from day to day are 31 and 4 per cent.
The Stock Exchange Markets have opened with
a firm appearance, and a fractional improvement
has taken place in most descriptions of Foreign
Stocks, and in the different classes of share pro-
perty. The arrangements for the monthly settle-
ment in the English Funds are proceeding satisfac-
torily, but Consols are weak, and are quoted 894
for money, and 89i for November.
Messrs. Neill, Brothers, and Co., in their cotton
circular dated New York, 25th September, state as
follows :—" In this market there has been a good
demand, with sales since our last of 22,000 bales.
We now quote Middling Uplands 37c., an advance
since last week of 3c. per lb., caused mainly by
speculation, consequent on the less favourable crop
accounts. Growing Crop.—The advices received
this week are generally unfavourable. There is no
doubt that in some sections the worms have reap-
peared, and these and excessive rains have com-
mitted serious injury. The vast area of country in
*which cotton is grown, and the fact that most of
those who make good crops keep silent on the sub-
ject, should make us cautious about believing too
readily a " short crop cry."
In the Foreign and Colonial Produce Markets
during the last few days there has been an absence
of animation, and several of the principal staples
have been at slightly reduced rates. Sugar has
barely supported previous quotations, while the
dealings in tea have been deferred until the public
sales, which commence to-day. In coffee a mode-
rate amount of business has been done, while rice
has been neglected, and tallow has slightly declined,
owing to the large arrivals daily expected from
Russia.

The sum of £50,000 in sovereigns .was withdrawn
from the Bank of England yesterday for shipment
to Brazil.

With regard to the silk trade, Messrs. Durant
and Co., in their circular, state :—We have a very
firm market in silk, but not very active business.
The arrivals are scanty, but our present very high
mange of prices, fully ls. above the quotations of
the 7th September, seems sufficient to keep the deli-
veries to such a moderate scale that our stock does
not diminish—still. speculative feeling continues,
and the successive telegrams are watched with in-
creasing interest, the great point being the con-
tinually advancing prices paid in Shanghae, which
is looked upon as the most effectual confirmation
of the continually diminishing estimate of exports. In
Japan silk we have had a few small parcels of new
tilk, Which have been taken at rather full prices.
Bengal silk has had a full share in the business of the
nlonth, but any material advance in prices seems a
slow affair. The next periodical public sales are
fixed to commence on Wednesday, the 24th inst.

Two 'CL.
According to Reuter's telegram fromO PariOs,CK to-
day, the French Rentes were 69f. 12c.
The English Stock Market remains depressed,
and the Funds have receded per cent.—the result
of sales connected with the monthly settlement.
C°llBolB are 891 1 for money, and 89i 1 for the Bth
November. The New Threes and Reduced Annuities
arc 87i ; ditto 28 per Cents., 71 ; Exchequer
13111 s, is dis. to 3s. prem. ; and India 5 per Cents.,
105.
Firmness generally prevails in the Foreign Stock
1‘ larket. Greek Bonds have advanced 1, to 141 15 ;
Turkish 5 per Cents. 1, to 281 8 ; and Italian 1, to
544. Mexican are 161 ; Spanish Passive, 211
and the Certificates, 141 1. American Securities
harather depressed. United States 5-20 Bonds
have
receded to 701 71 ; Erie Shares 1, to 491 8 ;
and Illinois are 78 . Atlantic and Great Western
—4.llway Debentures are steady at 64k, and the Con-
soltdated Bonds at 45 46.
Business in the Railway Share Market has been
fir animated, and prices generally show greater
;mness• Great Western have advanced 1, South
Eastern 1, Northern A Stock, Brighton, North
Western, and Midland each ; and Metropolitan 1.
In the Foreign and Colonial lines there has been
1O change of importance. Sambre and Meuse are
marked 71 ; Bahia and San Francisco, 131 ; Ant-
erP and Rotterdam, 8i ; Great Indian Peninsula,
4.06 ,
1 1n
Vf ; East Indian, 1061 103 ; and Grand
Trunk of Canada, 2911.
Miscellaneous and Financial Shares arevery quiet,
and without any material change in prices Impe-
rial Ottoman are firmer at 91 I, and London Char-
tred of Australia are dealt in at 461 47; Anglo-
American Telegraph at 16} ; Atlantic Telegraph 8
Per Cents., fully paid, at 110 112 i ; Credit
to 31 Foucier of England to 41
Company ; Egyptian Trading
; International Financial remain
Steady at 1 ; General Credit at 31, ; Hudson's
Bay Co., at 161 17, and Telegraph Construction
and Maintenance, at 161.

Guatemala 5 per Cent. —
per Cent 1865
Italian 5
Do. Account
Do. Maremmana Railway _
%laic= 3 per Cent
Do. Account
Do. 1864 --
Do 6 per Cent. Anglo-French —
Siontevidean 6 per Cent. • • .-
61.00rish Imperial 5 per Cent
geNV Granada
Do 2 per Cent —
Do. Deferred
Do Land Warrants (Hectares)
eruvian 5 per Cent., 1865
Do Account
Portriguese 3 per Cent., 1853
Do 3 per Cent., 1856 '7, '9, '6O, '62, '3 —
Do. Account
gussian 5 per Cent., 1822, £ St BB 6k
Do 44 per Cent. 1850
Do 44 per Cent., 1860
Do 3 pet Cent. 1859
Do 5 per (lent. 1862
Do 5 per Cent. 1864
iardinian 5 per Cent
Do. Account
Spanish 3 per Cent
Do Account
Do New Deferred —
Do Account
Do Passive —

65

Do Account 22 11
Spanish Cert. of Coup not funded —
Do Account l4i 1
Swedish 4 per Cent. —
Do. 4} per Cent. 1864
rurkish 6 per Cent. 1854 -
Do. Account

Do 6 per Cent. 1858
Do. Account
Do £lOO Bonds 57
Do 6 per Cent. 1862
Do Account
Do £lOO Bonds
Do 6 per Cent.,1863
Do 5 per Cent., 1865, paid up Scrip —
Do Account
Do. 4 per Cent. Guaranteed
Venezuela 3 per Cent.
Do Account
Do 6 per Cent., 1862
Do Account
Do. 6 per Cent, 1864
Dividends on the above payable in London.
Austrian, 5 per Cent., Ex. 10 Florins
1391gian, 44 per cent., Ex. 25f.
Dutch 2:h. per Cont. Ex. 12 Gail,.
Do. 4 per Cent. Certificates
French Bentes, 3 per Cent., Ex. 25f. —
Itainn4 5 per CAnt. 1851, Ex. 25f.
Do. Account
THREE O'CLOCK.
Consols, Money B9l
Do. Account 894

541 4

English Joint-Stock Bank.

TO THE EDITOR OF THE SUN.

SIR,—At a meeting of the shareholders in the
above bank, held on October 1, for the purpose of
attempting a resuscitation of the concern, Mr. Peter
Broad, chairman of the committee of investigation,
in stating the losses incurred at the various branches
up to Christmas last, and, referring to Aldershot,
said c, that through some fraudulent transactions
on the part of the manager there was a loss of
upwards of £12,000 !"
As manager of the Aldershot branch of the bank
at the time referred to such a statement was calcu-
lated to do me much harm, and accordingly I called
upon Mr. Broad to explain that the irregularities in
question were committed by a previous manager, in
reply to which I have received the following
letter :

Oct. sth, 1866.

Dear Sir,—l am in receipt of your favour, and much
regret that any observation of mine should have been so
reported as to cause you any annoyance.
With regard to the estimated loss on your branch, that,
like most of the others, arises principally from the stoppage
of the bank, and not from any fault of yours.
The heavy loss previously sustained occurred prior to
your appointment, and, of course, can have no reference
to yourself.
You are at liberty to make any use of this note you
please. Yours faithfully,
Wm. Sharp, Esq., Aldersbott.

PETER BROAD.

Great Eastern 6 team-Ship Com2any.

MEETING THIS DAY.

An extraordinary general meeting of the shareholders
of this company was held at the London Tavern to-day,
" to consider and determine what steps should be taken
with respect to the 2,500 shares in the Anglo-American
Telegraph Company (Limited), held by the company ; and
the £30,000 in ordinary stock, to which the company is
entitled under the charter party and by the Great Eastern,
dated the 25th day of May last, to declare a dividend, to
fix the remuneration of the directors for their services
since the formation of the company ;" and for other pur-
poses.

- Sir Daniel Gooch, B wt., presided, and on opening the
proceedings moved a resolution to the effect that the 2,500
shares should be distributed amongst the shareholders.

Mr. W. BARBER seconded the resolution.

The CHAIRMAN said•that ho had to congratulate the
shareholders on the succes3 that had attended their endea-
vours in laying the Atlantic Telegraph Cable. (Hear,
hear.) In spring last he predicted the most favourable
results to their enterprise, and those results had been fully
realised. The Great Eas,tern was instrumental, he believed
essential, to effect the laying of the cable. He would not
say positively that it could have been effected by the
means of smaller vessels, but he believed it could not be.
He read a passage from a report of last year to the
Electric Telegraph Construction Company, in which it was
asserted that the Great Eastern from her size rendered her
fit foi the laying of,the cable. It was thought. advisable
by the directors that for the present X 50,000 should
bo reserved. _

Mr. W. BARBER seconded the resolution.
A SintuVROLDER objected to reserve £50,000 as the
company had already £ll,OOO reservefund, and he thought
a report should be presented to the shareholders which
would enable them to understand their affairs better.
Mr. MrrcRELL considered that the matter in question
should be left entirely in the hands of the directors, who
had already discharged their duties so efficieptly, and on
whom he passed a high eulogium, referring to the distinc-
tion conferred on the chairman.

The resolution was then agreed to.
The CHAIRMAN then moved a resolution, the object of
which was that arrangements might be made so as to enable
the company to let the ship without having to pay for re-
fitment. That resolution touched the question of retaining
£50,000 ; for, if they could not succeed in letting the ship
on such terms they would require a large sum for refit-
ment.

It was agreed that tho directors' remuneration should be
fixed at 2 per cent. It was also agreed that £20,000
should be voted for the directors' services up to the present
time. •

After a vote of thanks to the chairman, the proceedings
terminated.

Liverpool Cotton Market.—This Day.

The Market opens With :fair demand. Sales pro•
bably 12,000 or 15,000 bales.

COURSE OF EXCHANGE—This Evening

---~-

Amsterdam Short. 11 17 11 171
Ditto 3 Months. 11 19* 12 0
Rotterdam -. 11 19f 12 f
Antwerp — 25 47* 25 52*
Brussels
Hamburg — 13 81 13 9-f
Paris Short 25 20 25 30'
Ditto 3 Months. 25 42} 25 47*
Marseilles
Frankfort on the Maine —119 k
Vienna — 13 10 13 20
Trieste — 13 10 la 20
Petersburgn - 30 30*
Berlin
Madrid — 47 47*
Cadiz
Leghorn
Milan
Genoa
Naples
Palermo
Messina ............ •
Lisbon ....... 51 511
Oporto

Mr. Bright has declined an invitation to a Re-
form demonstration which will be held at Aberdeen on
the lith instant, and has at the same time stated his
inability to accept further engagements than those ho has
already made.

Mrs. Sheppard, widow of the late Mr. Wm. Sheppard,
has written to us to say that she has received the sum of
.C5O from Mr. Stevenson, the bookmaker, and asking us to
acknowledge the same. It will be remembered that Mr.
Sheppard backed Rama for the Goodwood Stakes to win
a large sum, with Mr. Stevenson and another bookmaker,
and owing to Mr. Sheppard having died on the day that
the race was run for, the bet, according to the laws of
racing, became void. This liberal act on the Fart of Mr.
Stevenson is highly creditable to him, for according to the
strict letter of the law it was not compulsory upon him to
pay one farthing, and there are many who would have been
only too glad to avail themselves of this " get out" in its
entirety.—Sporting Life.
We recently announced that coursing in the Home-park
at Hampton had been prohibited this season. To this
statement we have now to add a rider of a very pleasing
character. The Duke of Beaufort, who, as Master of
the Horse, had to deprive the coursers of the metropoli-
tan district of a privilege they had so long enjoyed, has
most handsomely placed at the disposal of the Amicable
Coursing Club his own grounds at Badminton ; and the
first meeting of the club will accordingly take place there
on the 25th, 26th, and 27th of the present month. The
headquarters will be at Chippenham, 032 the Groat Wee-
tom tins.—The Fic4