The Sun.
London, England, 1868-02-04 00:00:00

MONEY MARKET

AND
:;01.11IMERCIAL TNT F,T,LIGIM

CITT, Two O'CLOCK.

The explanatory circular issued by the Metropoli-
tan directors, in which they announce an intention
to pay a dividend out of earnings on the Consolidated
Stock, has had a good effect, and the stock has ex-
perienced a partial recovery. Other railways are
steady, without material change. The reaction in the
Funds was partially abated. Nothing has occurred of
a political character to account for the relapse, and it is
therefore attributed to realisations to secure the
profits of the late advance. Iu various foreign
stocks there has also been a reactionary move-
meat, caused, it is said, by sales on foreign ac-
count.

The inquiry for money is slightly affected by the
engagements of the 4th, and rates are quoted at
per cent. for the best bills.

Consols are a little firmer than at the opening, at
93; to 938 for money and account. New and
Reduced Three per Cents., 931 to 93a ; India Five
per Cents., 112 to 1121 ; Bank Stock, 247 to 249 ;
Exchequer Bills, 225. to 275. prem.
The Foreign Stock Market is quiet, with Turkish
and Greek Bonds in demand. The former is quoted
32} to 321 ; and the latter 13 to 11. Mexican, 151
to 16i ; New Spanish, 361 to 37 ; Italian (1861),
431 to 43i ; Portuguese, 1.1 to lf prem.; Danubian,
68 to 69 ; Brazilian (1865), 761 to 771 ; Egyptian
9 per Cent., 891 to 90 ; and Honduras, 891 to 90.

In American Securities United States 5-20 Bonds
are steady at 72 to 72k; Erie Railways are lower,
at 48 to 49 ; while Illinois are 1 better, at 86k
to 871. _ _ .

Atlantic and Great Western Railway Debentures
have risen 1, to 28 to 281, and the Consolidated
Mortgage Bonds 1, to 26 to 261.
The chief feature in Railways is the improvement
in Metropolitan on the circular received this morn-
ing. The present price is 1081 to 1084, being a re-
covery of If. There is an advance of 4 in the
North British, at 36k to 37 ; of in Caledonian, at
771 to 77; ; and of in Lancashire and Yorkshire,
at 126 k to 127. The other quotations are :—Mid-
land, 106} to 107 ; in South Eastern, 691 to 70 ;
London and North Western, 118 k to 119 ; Great
Northern, 1071 to 108 f ; Great Northern A, 108
to 109 ; Great Western, 451 to 461; Brighton,
44 to 46 ; Sheffield, 43 to 44 ; and Chatham, 17/
to 181.

London and County Bank shares are quiet, at
53f to 54f ; Alliance, 13 to 12 dis. ; Imperial, a to
dis ; London and Westminster, 67 to 68 ex div.;
London Joint Stock, 33} to 341 ; and Union of
London, 33f to 341.

London Financial Shares are 23 to 22 dis. ; Na-
tional Discount, 11 to 111 ex div. ; and Credit
Foncier, 31 to 31.

In Miscellaneous Shares, Hudson's Bay are 14;
to 148 ; Egypt Trading, 41 to 4,1 dis. ; Anglo-
American Telegraph, 191 to 194 ; Atlantic Eight
per Cent., 58 to 51 ; and the Ten per Cent., par to
prem.

The following is the report of the National
Freehold Land Society issued this day :—The
directors have to report to the members that
there has been an increase during the past
year in every department of the society's busi-
ness. The deposits have exceeded those of the
previous year by £176,888, whereas the with-
drawals have only exceeded those for the same
period by £32,369. The " members' capital" has
increased by £210,799. The report then says that
in consequence of the unprecedented influx of
money (owing principally to the low rate of inte-
rest obtainable elsewhere), the directors felt it
necessary, in August, to reduce the rate of interest
from 5 to 4 per cent., and it is satisfactory to
find that this step has not led to any consider-
able increase in the amount withdrawn. Having
regard to the increase in the amount of business,
the directors have added £5,000 to the reserve
fund, which now amountsto £lO,OOO. A further sum
of £27,337 has been added to " convertible securi-
ties," increasing the fund to £129,186. Of the net
profit brought forward last year (£20,397), the
amount added to uncompleted shares was £16,259,
leaving a surplus of £4,138. The net profit this
year (after deducting the £5,000 carried to the re-
serve fund) is £21,829, of which the amount added
to uncompleted shares will be about £lB,BOO, leav-
ing about £3,029 to carry forward to the next ac-
count.

CITY, TWELVE O'CLOCK'

liar gold to the value of £107,000 was withdrawn
frnlit the Bank yesterday for export to the continent,
together with £5,000 sovereigns for Egypt. The
demand for the continent keeps up, and the Austra-
um arrivals announced yesterday have already been
Purchased for export.
The Oneida nas brought £6,000 in specie from the
Brazils.
The Pera leaves to-day with £13,200 in silver for
Shanghai, £lO5 in silver for Hong Kong, £3,500 in
gold for Point de Galle, and £736 in gold for Madras.
The half-year's dividend of the London and
South Western Railway Company is at the rate of
bk per cent., and 4i for the corresponding six months.
Al balance of £10,203 is carried forward.
The Thames and Mersey Marine Insurance Com-
pany announce a dividend of 2s per share, making,
with the distribution of 4s already made, 15 per cent.
for the year.
The traffic receipts of the Grand Trunk Railway
Company for the week ending January
.18, show an
increase of £865.

An extraordinary general meeting of the York-
street Flax Spinning Company has been called for
the 17th inst.. for the purpose of authorising the
directors to reduce the capital of the company.
The following review of the Liverpool markets for
January is from the Liverpool Mercury :
" The first month of 1863 is about to close, and it cannot
a said with justice that it has disappointed expecta-
tions. There have been no local failures of impor-
tance, and the general tendency of business has
been towards recovery. The process is naturally
very gradual ; and we allude more to the return of con-
fidence than to any distinct increase of business activity.
The cotton trade, however, has been animated ; and prices
of the leading descriptions of cotton show an average rise of
per lb from the quotations at the end of last year. This
has been accomplished without the aid of speculative ex-
citement. In the colonial produce market sugar has been
very quiet, and prices are lower than at the corn-
Mencement of the month ; but at the close there has been
Mare doing, with a steadier feeling. Coffee has also been
very (lull, but prices show little alteration. Rice was'active
and firmer in the earlier part of the month, owing to the
advance in the price of wheat ; but latterly the market
has been quieter, and quotations do not vary very ma-
terially from those current at the commencement of the
rear."

Captain Thomas Treloar reports from the Don Pedro
North del Rey Gold Mining Company :—" Since my
last advices our operations generally have not pro-
ceeded as satisfactorily as usual. The weather has
been exceedini,ly changeable. Rain, thunderstorms,
cloudless skies, and a burning sun,—and, owing to
this, we have had an unusual amount of sickness, but
lao death has occurred. In addition to this, the
hale of 1-layman's stamping mill failed, and
aopening at Christmas time, remedying it oc-
uPled us ten days, and has thrown our pro-
duce back some 800 oitavas. The timber of the
axle, when it was being worked up, seemed all that
could be desired, but it could not have been sound
throughout. The lines of gold, Nos. 1 and 2, have
aot been wrought, but Nos. 3 and 4 have afforded
Poor vein stuff. The excavation on the line
\l.O. 3 is down twenty-one fathoms below where
I.t failed, and the line, vein, and surround-
Jacutinga is changing. We may be mistaken
aken"llt we believe that we are again nearing a vein of
gold. The fissures have now appeared in the line
°o 4, and they have impoverished it, but to date not
The he extent that occurred in the lines Nos. 2 and 3.
stopes have yielded about as usual. Gold
Leaned up to date, 8,561 oitavas, and the total for
ecember will. I fear, be under 10,000 oitavas."
Cc The following is from the Anglo-Brazilian Gold
"IPany. Captain Thomas Treloar reports :—" Nye
still straining every nerve to communicate with.
old workings., from Dawson's south. By extending
Luc
.saine we hope in another month to strike one
section, as by dialing we find there is but three
,''Llimos to drive. We have not yet encountered the.
t",aootinga in-rising. A change is appearing in
he
It ~vill lode at the Buraco seam. We hope
improve the yield in stamps. The extension of
Deem Alit towards the Fundao is being pushed on as
(I,llllekly as possible. The lode in end has a more in-
d.tlog appearance than it had a month ago.. Dawson's
sincechange Inv last."

ft u vBRITISH FUNDS—TWO O'ALOCK.
0 . EitistMENT FuNDs
Per ueu , - - •
-r, t. Gun sols 931 1 1
3 :`-'O. A'-count„ Feb. 6 93a -.1-
O'er Cont. Itoducod
New 3 per Cent 93f f i