The Sun.
London, England, 1866-08-02 00:00:00

SIONEit-MA

KET

COMMERCIAL

TWELVE O'CLOCK.
The official rate of discount at the Bank of Eng-
land is continued at 10 per cent. A notification to
this effect has just been made by the authorities to
the large number of people who were assembled
within the precincts of the establishment in anxious
expectation to hear that a reduction of at
least 1 per cent. would have been made. The
majority
of the commercial classes, however,
who regard the position of the institution from
a Public point of view were not disappointed,
because it was foreseen that, previous to an altera-
tion, the reserve of notes required to be considerably
increased. For the moment the money market is
quiet, owing to the securities which have been held
over in anticipation of a change. The demand for
accommodation, however, is likely to increase,
especially as provision will have to be made for the.
bills arriving at maturity on the 4th—next Satur-
day.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :

Great Western 1866. 1865.81,685 76,778
North Western 129,320 128,441
South Western 31,018 31,663
Brighton
Midland
South Eastern 51,430 50,86831,30 31,663
Great Northern
42,485 38922
Lancaster and Yorkshire
Bristol and Exeter 8,440 8,259
North Eastern 72_', 818 71,792
Manchester, Sheffield, and Lincoln 20,413 20,398
Great Eastern
London and Chatham and Dover 14,672 14,137
,
These returns, when compared with those of the
corresponding period of last year, are, in several
instances, of an unfavourable character. On the
Great Westerno however, there is an increase of
£1,907 ; on the North Western of £879 ; on the
Midland of £562 ; on the Great Northern of
£3,563 ; on the Lancashire and Yorkshire of
£4,077 ; on the Bristol and Exeter of £181; on
the North-Eastern of .E1,02d; on the Manchester,
Sheffield, and Lincoln of £l5 ; and on the London,
Chatham, and Dover of £535 ; while the South-
Western shows a decrease of £645 ; the Brighton
of £3,414 ; the South-Eastern of £363 ; and the
Great Eastern of £486.

The General Credit and Finance Company of
London (Limited) announce that Definitive Certi-
ficates are ready to be exchanged for scrip of the
Imperial Ottoman Loan (Five per Cent.) 1865.
At the meeting held to-day of the shareholders
of the London and County Bank, the report pre-
sented recommended the usual dividend of 6 per
cent., together with a bonus of 5 per cent. for the
half-year, which is equal to 22 per cent. per annum.
A balance of £17,468 is carried forward.
The ordinary general meeting of the shareholders
of the City Discount Company was held to-day.
The report presented recommended a dividend of
rather
28. 6d. per share, free of income tax, which will be
more than 10 per cent. per annum ; and to
carry forward to new Profit and Loss Account
£771
14s. 91
The sum of £7,000 in gold was taken to the Bank
Yesterday, making a total of £168,000 in the week
ince the date of the last return, while the with-
drawals for exportation have been £lB,OOO.
The bar silver brought by the West India packet
has been disposed of for shipment to the Continent
at 64d. per ounce, which has been about the
current rate for some days past.
The dividend on the Four per Cent. Turkish loan
naranteed by England and France was paid yes-
terday It appears, however, that a sum of £65,800
required to pay off the bonds drawn in accordance
,With the regulations for the sinking fund has not
been provided by the Ottoman Government. It is
also Said that even the dividend money was not all
forthcoming, but has been made up by the guaran-
teeing
Governments. Representations are confi-
dently
put forth that the amount may shortly be
expected but the irregularity in such a case as this
18 a fatal symptom, and furnishes a further strong
,rc°lnblentary on the glowing pictures of future
tirkish prosperity constantly presented a few years
back, by British officials in Parliament and else-
vf"ere. As the price of the Guaranteed Stock is
about par, the non-fulfilment of the stipulation re-
P.lil:ding the sinking fund is not hurtful to the
ders. The guaranteeing Governmentsi who are
'bound in case of Turkish default to continue paying
the dividends are the sufferers.
The suspension has been announced of Mr. Ed-
ward
,L Tiernan, of Great Tower-street, engaged in
the tea trade, with liabilities for £30,000 or £40,000.
The assets are said to be small.
The North British Daily Mail of yesterday an-
-ounces the stoppage of Mr. David Law, sole part-
and ner the firm of Edington and Sons, ironfounders
engineers, of Glasgow. The estimated liabilities
are £232 000
and the assets £120,000. The stop-
sage appears to have been directly caused by the
;Pension of Messrs. M'Ewen and Bryson, on
i„„h_ese estate it is said Mr. David Law ranks for
t 9,000. A meeting of creditors is called for
Friday,.
CThe Bank of England have given notice that on
euday, the 3d of September, the New Three per
yehts., Reduced Three per Cents., Annuities for 30
Year
Annuities for terms of years, and India Four
per
Cents. will be transferable without the dividend
due
On the 1
oth of October next; also that the that the
books of Bank stock will shut on Wedues-
.t7Y, the 12th of September, and open on Thursday,
11th of October.
s The biddings for £350,000 in bills on India took
Place
Yesterday at the Bank of England. The pro-
rrtions
allotted were—to Calcutta, £231,450 ;to
l.adras, £5,600 ; and to Bombay, £17,900. The
4_, um prices were as before-Is. 10d. on Cal-
.vr. and Madras, and is. 101 d. on Bombay, at
ich rates allotments were made in full. These
results show the demand for the means of remit-
ttance to the East to be still extremely light, although
amount taken is a little in excess of that upon
the last occasion.
In the matter of Overend, Gurney, and Co.
°United) the case of Mr. Henry Grissell, who is a
shareholder of 80 shares, and a depositor of
£16,000, was taken by Vice-Chancellor Kindersley
Yesterday as representing that of the class of de-
Positors who are also shareholders. The Vice-
Chancellor decided that, according to present law,
Mr. Grissell is a partner, and as such can receive
no part of his deposit until all the other creditors
are paid in full, but must meanwhile pay calls upon
his shares. Considering that the remaining liability
of Mr. Grissell on his share is fixed at £2,800, and
that the debt due to him by the company is £16,000,
the hardship of his position is most striking, and will
furnish another warning to the public to have as
little to do as possible with any limited companies
on which any portion of the capital remains un-
called.
The following Bombay telegram, dated 23d July,
Zas just been received by Messrs. W. C. Sillar and
,ill 6e. :—Exchange on London for a first-class Bank
months' sight, per rupee, ls. Hid ; the Cal-
cutta rate for do., per rupee, 2s. ; exchange on Cal-
ceUtta at sight, 1.01.1- to 101 f ; Government 4 per
isiht• Paper, rs.; do. 5 per cent., 106irs. ; do.
per cent., Mil's.; Bank of Bombay rate of dis-
b-°:114, 12 ; bar gold, 99f touch, 16-6 rs. per tola ;
tor silver, 17 to 171 betternes, 103irs. per 100
as ; 12,000 bales cotton sailed from Bombay dur-
4ug the fortnight. Piece goods active.

Two o'CLocK.
Re At the Paris Bourse, this morning, according to
46.11ter% telgrarn, the 3 per cent. Rentes were 69f
etne 11l the market for Consols there has been a de-
cent i per cent. compared with the prices cur-
yestrday afternoon. The stagnation of busi-
the ". speculative account and for investment are
causes of the prevailing depression. At the
sir time the market may, on the whole, be con-
-131, ered Strong and healthy. Consols are for the
couehe,nt for money, and 88:1 for the ae-
Ne--" At the last moment the latest prices of
ditto es
jj4href--
tot
,n wa6ceactie 87 i; India 5 per Cents., 103 ;
51 per Cents., 1064 ; and ditto
18s. preen. ; Exchequer Bills, 4s. 3s. dis.
float of the Foreign Stocks are at fractionally