The Sun.
London, England, 1866-10-17 00:00:00

TONEY MARKET

AND
COMMERCIAL INTELLIGENCR.

TWELVE O'CLOCK.
The Money Market presents no special feature.
Very few bills are in circulation, because there is a
probability that a reduction may be made to-morrow
in the official minimum, although should the present
quotation be continued for another week little sur-
prise would be evinced. The best bills are negoti-
able at 4 per cent., and bankers' acceptances at 3i
per cent.

The Stock Exchange Markets show little altera-
tion of importance. The English Funds arc being
steadily maintained through the distribution of the
dividends, and Consols are 891 for money, and
898 I for the account. Foreign titocks and some
of the principal shares are at slightly enhanced
value.

The bullion operations at the Bank of England
yesterday afternoon were not of public interest.
A supplementary contract has just been executed
between the Secretary of State for India and the
Madras Irrigation Canal Company, by which the
former has agreed to lend to the latter funds as they
may be required up to a total of £600,000 for the
purpose of completing a section of the undertaking,
and the works are now to be prosecuted with the
utmost vigour. The principal of the lean in ques-
tion is to be secured by debentures payable in five
Years from the date of each advance, but the interest
is to remain a charge upon, and to be paid out of,
profits when realised from the works. The new
contract thus completed distinctly and positively
provides that the guarantee upon the present shares
of the company, representing £1,000,000, shall re-
main in force, and be in no way whatever affected
or prejudiced either by the loan or the interest, or
by the debentures to be given by the company ; and,
therefore, it not only confirms the guarantee, but
places its stability beyond doubt and question.
The following, with regard to the Malta and
Alexandria Telegraph line, is of importance to the
commercial community :
The lessees of the Malta and Alexandria Telegraph line
beg leave to announce that the cable which ceased working
last week has been repaired, and is again open for tele-
graphic correspondence with Egypt, India, and other coun-
tries in the East. To insure the transmission of telegrams
by the direct route, and thus avoid the delays which take
Place on the Turkish lines, it is necessary for the public
to add the words, "via Malta," to the address of their cor-
respondents, otherwise messages for Egypt and India will
be forwarded by the Continental telegraph authorities via
Constantinople.
A small loan for the State of Massachusetts has
been announced by Messrs. Baring Brothers and Co.
The amount required is £413,300 in Bonds of £lOO
each, bearing interest from Nov. 1, 1866, at the
rate of 5 per cent. per annum, payable by half-
Yearly dividend warrants on May 1 and Nov. 1 of
oath year. The principal is redeemable on May 1,
1.81?4, and both principal and interest are domi-
ctuated at the counting-house of Messrs. Baring
Brothers and Co., and are also payable free of
barge at the current rate of exchange in Am-
s_ti7dani at the office of Messrs. Hope and Co.
issued
amount of £413,300 constitutes the remainder
i
Bto to the present time of the loan called the
euntY Fund, created in conformity with the acts of
li7o4State of Massachusetts of 1864 and 1865 10 mil-
of dollars, except a sum of $1,420,000, or about
k 293,30. .
,r,, _ v still reserved by the State authorities.
:I'ue State of Massachusetts applies from resources
111 its possession an accumulating sinking fund of 3
per cent. er
P annum on the amount of the Bounty
Nand for extinction of the $10,000,000 loan on
tioned b • The payments for the above men-
cent. °lids are to be made as follows :-15 per
Feb. 0° Nor. 1, 1866, 15 per cent. on January 8,
Aprilsi6a:nd March 12, 1867 ; and 17 per cent. on
up
the total 77 per cent. Subscribers may pay
rat
remaining instalments under discount at the
e of 5 Per cent. per annum.

Two o'CLocx.
, According to Reuter's telegram from Paris, to-
claY, the French Renter were 68f. 80c.
there is
Ile English Stock Market continues firm, but
no variation of importance to report in ther
vaiue of the Funds. Consols remain at 891 for
11°ne3r, and 891 i for] the account. TheE N
Threes
and Reduced Annuities are 87 * ;
quer Bills, xch e-
par to 3s. prem. ; India 5 per Cents.,
1951
, a 1 ; ditto 4tl tlev.
• ) )
~,,- Lents., 10f.
per Cents 93 • and ditto Enfaced
' Stocks
i r-i- he alterations in the prices of Foreign
are
ilaVe been unimportant. Turkish 5 per Cents. .
291 i ; :me..:_an
.. „ ,
.i ; Spanish
41c , 15,-1 f ; Greek, lot
Passive,
1. 24 i ; Tian, 54i 55. the Certificates,l3! _4 ; and ha-
,
0,1-inited States 5-20 Bonds are 681 i ;
"are; 49 50 'and Illinois, 781 79,
Erie
Atlanticfit and Great Western Debentures are
Bonds
at 62 64, and the Consolidated Mortgage
4/nds continue in demand, and have advanced 1 to
1 44 ex coupon.
-B_ r
fair amount of business has been transacted in
is Railway Shares, but generally at further re-
‘d_ueed rates. Great Eastern have receded 1; Great
e"rhostern) Lancashire and Yorkshire, London,
sh albacl, and Dover, North Western, Manchester,
an,eitileld, and Lincoln, North Eastern (Berwick),
..4. South Eastern, each 1 ; while Great Northern
advanced I.
do he Foreign and
n. Great Colonial lines show little varia-
,
ast Indi Luxembourg have declined to 121 1 ;
an,
to 1021.
, tank Shares remain very quiet. London and
er, at 921 4 62 ; London and Westmin-
"t ;
63 Unio of
cf Australia . n
London, at 43; ; and Bank
The di• . .
ea ings in Finance and Miscellaneous shares
ha only been to a moderate extent, without any
t change grove
as regards values, with the exception
of Atlantic Telegraph 8 per Cents., which have de-
clined to 93! ; Credit Foncier of England are steady
a„t 3i 1 ; International Financial at 3i 1 ; and Na-
SeriAmerican Discount Company are firm at 14 ; Anglo-
can Telegraph are marked 151 i ; lludson's
Llay Company, 17 ; and South Australian Land, 33.
_____