The Sun.
London, England, 1868-01-31 00:00:00

MONEY MARKET

AND
COMMEROIAL INT ELLIGENCR,

CITY, Two O'CLOCK.

There is a slightly increased demand for money
this morning, but rates are unaltered, at 1i to 11
per cent.

The Corn Market is steady at Monday's prices.
Consols are firm, at a further improvement of if,
at 93 to 931, for money, and 93i- to 931 for ac-
count; New and Reduced Three per Cents., 938 to
94 ; India Five per Cents., 112 to 1121 ; Bank
Stock, 247 to 249 ; Exchequer Bill, 225. to 265.
prem.

Foreign Stocks are again much firmer. As com-
pared with yesterday's unofficial prices there is an
advance of in Italian, at 434 to 432 ; of lin Peru-
vian, at 772 to 78 ; in Egyptian (1864), at 90 to
91 ; in Brazilian (1865), at 771 to 781 ; and in
Turkish (1865), at 321 to 32i ; 4in Mexican, at
16k to 16i ; and off in New Spanish, at 364 to
374 ; Greek Bonds are 131 to 134 ; Venezuelan
(1864), 19} to 201 ; and Chilian, 87f to 881.
The New Honduras Loan has risen to , 14
prem. ex coupon.

In American Securities United States 5-20 Bonds
are steady, at 71i to 72i ; Erie Railroad, f lower,
at 481 to 49 ; Illinois, 86 to 87.
Atlantic and Great Western Railway Debentures
remain at 251 to 261, and the Consolidated Mort-
gage Bonds have risen Et, to 251 2G.
In Railways there is an advance of s in London
and North Western, at 1181 to 1191 ; of t in
Midland, at 1061 to 107 ; of 1 in South Eastern,
at 69i to 70 ; of lin Brighton, at 45 to 46f ; and
of 1. in Great "Western, at 46 to 461. Lancashire
and Yorkshire are 4 lower, at 126 k to 127 ; Cale-
donian I, at 741 to 751 ; Metropolitan 1, at 116 to
116 k, and Great Northern AI, at 107 to 108.

CITY, TWELVE O'CLOCK.

The weekly return of the Bank of England con-
‘inues to show an accumulation of resources with
diminishing means for their employment. Thus, while
the securities have fallen off by nearly £400,000,
Including both descriptions, the bullion and reserve
have enlarged by a total of £631,784 ; the Bank,
therefore, has employed less money in its business by
a million sterling than it did last week. As private
depositors, chiefly bankers, have reduced their deposits
by £120,230, it follows that somewhere about
£900,000 less money has &been employed in
the trade of the country ; while the mercantile com-
munity, as well as the Bank, is under the disadvan-
taa6e of an excess of six millions unemployed private
deposits beyond the amount of private securities. The
private securities are now little more than sixteen
millions and a half. These conditions represent
stagnation. In respect to its liabilities on deposits
and bills, the reserve of the Bank exceeds the third
part of them by five millions within a fraction ; and
as the active circulation, apart from the bills, is
£23,474,530, while the bullion is £22,319,625, the
Bank could pay off in gold the whole of its notes
within £1,154,905. The following are the principal
changes since the preceding return :
Decrease in circulation £455,780
Increase in Public Deposits
Decrease in other Deposits
Decrease in Government Securities 200,800
Decrease in other Securities . 194,628
Increase in Bullion
Increase in Rest
Increase iii Reserve
Bullion in both'Departments
Reserve of Notes and Coin 13,845,095
Circulation, including Bank Post Bills 24,082, 263
The following is the return of paid clearing for the
week ending Wednesday, Jan. 29, as certified by
Mr. J. C. Focock, deputy inspector:--

Jan. 23, Thursday X8,661,000
Jan. 24, Friday .........
Jan. 25, Saturday 9,857,000
Jan. 27, Monday 7,505,000
Jan. 28; Tuesday 8,764,000
Jan. 29, Wednesday 7,788,000

Total £51,164,000
This is a low aggregate. It is the lowest of
the year so far, but it corresponds exactly
to the comparative stagnation shown by the
Bank returns. There have been no settlements on the
Stock Exchange. ,to disturb the amounts created by
trade. It is, however, satisfactory to observe that on
the last occasion when the clearing was unattended by
those conditions, the total was about .446,000,000.
This week it is £51,000,000. Some slight improvement
has consequently taken place in the interval. The
return fur the ensuing week will probably show a con-
siderably enlarged clearing as there will have occurred
a heavy Stock Exchange settlement, and the liquida-
tion of the bills maturing in the domestic trade on the
4th, next Tuesday, two incidents which, to some
extent, may also affect the next Bank return.
The sum of £71,000 in bar gold was withdrawn
from the Bank yesterday for export.
The North Staffordshire Railway Company an-
nounce a dividend at the rate of 3i- per cent. against
4 per cent. for the corresponding period of 1866.
A special general meeting of the Australian Trust
Company has been called for the 14th February, for
the purpose of procuring the assent of the company
to its being registered as a limited company.
The Lonon Colonial Wool sales are announced to
commence on the 27th of February. The fresh arrivals
amount to 34,004 bales.
The report of the Isle of Man Banking Company
for the past half-year recommends a dividend at the
rate of six per cent. per annum.
The extraordinary general meeting of the East
India Irrigation and Canal Company has been
adjourned to the 15th February.
The following is the report of the London and South
Western Bank :—The accounts show a gross profit
for the half-year (including £365 7s 7d brought for-
ward from last account) of £19,691 lOs 9d, and after
deducting the usual charges for expenses at head
°ffice and branches, interest to customers, &c., there
remains a disposable balance of £6,371 lls 4d.
The directors recommend that a dividend at the rate
of five per cent. per annum (free of income tax) be
Paid to the shareholders, and that the balance of
£1,371 lls 4d, which includes £520 19s for rebate
On bills not yet due, be carried to profit and loss new
account. The dividend will. be payable at the head
~,°ffice, or at any of the branches, on and after the 11th
February next.
Vice-Chancellor Wood has made an order that the
fvoluntary winding up of the Prince of Wales Slate
trnpany (Limited), be continued under the supervision
he courts and confirmei the appointment of Messr.s
B. Smart and H. L. Hammack, as liquidators.
The following is an extract from the report of the
Telegraph to India Company :—" The Board, with
the approval of the shareholders at the meetings on
the 12th July and 9th August last, confirmed the
Provisional Agreement with the Telegraph Construc-
tion and Maintenance Company, for the lease of their
line in Egypt, on payment, from Ist July last, of
£1,500 per annum, or 3 per cent. upon the capital
of £50,000. The rental due 31st December, 1867,
having been received, the Board recommend
that a dividend at the rate of 3 per cent. per
annum, free of income tax, be paid to the shareholders
for the year ending 31st December, 1867. The
future prospects of the company must depend, as
the shareholders are aware, upon the successful
earrying out of the Anglo-Indian Telegraph Company,
*which the Board understand only remains in abeyance
awaiting., a favourable opportunity for proceeding with
the undertaking."

BRITISH FUNDS—TWO O'GLOCK.
. GOVERNMENT FUNDS.
° Per Vent. Consols
D 1)0. Account, Feb. 6 995 1
Per Cent. Reduced 4 1
Ze I'? 3 per Cent 94 34 4
"arly 21 per Cent. Jan. 1894 751 7
4"J°. 5 per Com. J an. 1873 —
14tlities, 80 'yrs, expire sth Jan. 1880 —
D. for 30 yrs, expire sth April 'lBB5 —
(Red Sea Telek,raph), Aug,., 1908 —
"haquer Bills, £l,OOO, 2 &21 per Ct 22 6 pm
Do £5OO 22 6 pm
B e IDa. £lOO & £2OO 22 6 pm
'J
NIL ofo. A. England Stock, 41- per Cent 249 8
ccount
~,, izsiblAN GOVERNMENT SECURITIES.
—`4l-,i4ligtock, 101 per Cent., April 1874 215 17
-'4O. Account -
0
ha. 5 per Cent.
Oct
1880 - 12
a'a• 4 per Cent., Oct. 1888
1?)0. Certificates —
Do.
Enfaced Paper 4 per Cent B7
O. 5 per Cent., Jan. 1872
ID°' 5i per Cent., May 1879 loBi
0. 5 per Cent., Rup. Deb., 1872 —
Do, do. 1877 —
1) Do' do. 1882 —
Da Deb., 5 per Cent., Aug. 1873
~.,a. ua• Bondnerds, 5 p
00 er 0 Cent., £l,000
" £l,
Ar e
ti b . Ir ()REIGN FUND St
—TWO CLOCK.
iIA eublic, 0 per Cen
rit_htrian Bonds, 5 per Cent. 1859
tai
) 'llan 5 per Cent —
3,. 4i per Cent. 1852 —
ha- do lB5B. .
4-'„,a. d 0.,. 18i0 —
,
B,;-#2. do., 1863 —
A'-'• a pertent.,lB6s
Acc
ou
ee. £lOO Bonds —
j)°,)°,.? gyres 6 per Cent —
Cab 4,Per Cent. (Deferrt.d 3 per Cent )
o(iiis •
6 Per Cent.
Nolan 6 per Cent
D per Cent
'''°. 6 per Cent., B 67 61—