The Sun.
London, England, 1868-01-14 00:00:00

MONEY MARKET

AND

OOMMERCIAL INTELLIPF,yrA

CITY, Two O'CLOCK.

The Stuck Markets are inactive, but the tone has
been good, though the best prices have not so far
been fully maintained. The Funds advanced a point,
but they have since relapsed to the opening price
Without being sensibly weaker. Railways have fol-.
lowed much the same course. They are not. so good
as at the opening, but better than yesterday
Without any activity beyond that connected with
the settlement. In the Foreign market the princi-
pal feature is a decline iu American securities.

Money is in abundant supply both in the open
market and in the Stock Exchange. It is hardly
possible to lend money. The terms for the best
bills may be quoted at ji to 1/ per cent.
Consols opened firm, at an improvement of but
have since returned to yesterday's price, at 921 to
92 for money and account. New and Reduced
Three per Cents., 92/ to 921 ; India Five per
Cents., 111 to 111/ ; Bank Stock, 240 to 242 ;
Exchequer Bills, 225. to 275. prem.
The demand for Foreign Stock keeps up.
,Turkish (1865) are 1 better, at 30i to 301 ; New
Spanish f, at 341 to 35} ; and Mexican at 154
to 15} ; Greek show no change, at 12 to 12/ ;
Italian (1861), 42 to 42/ ; Egyptian Railway Loan,
90 to 91; Brazilian (1865), 75 to 76 ; and Portu-
guese Scrip, 11 to 11 prem.
.American Securities are flat. United States
Five-Twenty Bonds are lower, at 711 to 711;
Erie
Railway and Illinois, each / worse, the former
Being quoted as 49 to 50, and the latter at 87/ to
81.

Atlantic and Great Western Railway Debentures
have receded 4, to 21 26, and the Consolidated
Mortgage Bonds to 22 23.
Railways opened much firmer upon the scarcity
of Stock for the settlement. There is now a rise of
lin Great Northern, at 106 to 107 ; of / in Cale-
donian, at 73 to 734 ; of 4 in Sheffield, at 434 to
44 ; and Metropolitan, at 115 to 1154 ; of 4 in
London and North Western, at 114 to 1144 ; of
4in Midland, at 103 to 1034 ; and 4in South-
eastern, at 67 to 674; in Great Western, at 45 to
45i ; and in Chatham, at 18 Ito 184. Lancashire
and Yorkshire are quoted 1224 to 123 ; Great
Northern A, 1064 to 1071; and Brighton, 48
to 484.
Upon the arrival of an official report of the con-
flagration at the St. John del Rey mines, the com-
pany's shares have declined to about 33, making
the total fall on this account no less than £24 per
share. The manager reports the fire to have been
very serious, but the extent of the mischief cannot
Yet be ascertained. The whole staff of miners are
County are £1 lower, at 514 to 524 ; and Union
of London, at 32 to 33 ; and London and Joint
Stock, at 34 to 35, are 10s. lower. Alliance, 14 to
12 discount • Metropolitan, 64 to 74 ; and Imperial,
18 to 19.
Atlantic Telegraph Preference shares are quoted
prem.

Yesterday CITY, TWELVE O'CLOCK.
£12,000 in coin received from Lisbon
Ija4 Bent into the Bank. The following remarks upon
•ftui.e prospects of the bullion market are from Messrs.d
''.oeatta and Goldsmid The inactivity in all e-
aeriptions of silver still continues, and the prices
remain without alteration, the only demand being for
e Continent. The low state of the Indian exchanges
inducespr, InanY people to anticipate importations o
L 1717 from the East, but there must be a further
b-e4dle of about 3 per cent. before such shipments cand
.e profitable. The arrivals of gold from America an
Ailastralia have been on a large scale ; but, with one
two unimportant exceptions, the whole has been
parch
based for exportation, and there is still a fair
ii„--`aod• The quotation of Exchange from New York,
ei.eer, is gradually declining, so that it is possible
4 importations from that quarter may shortly
Hermann has arrived from New York with
'")°,500 iii specie for this country, and the City of
ti°lld,on with £236,400 in specie. The Atrato, from
e West Indies, brings £02,206 in specie. The
dtrathdou has arrived from New South Wales in 88
qs with £12,828 in gold.
The report of the Metropolitan Bank (Limited)
ai -;,..
late,s) after making provision for bad and do
rebate
ei.,e,tirrent expenses, the profit and loss account t
a balance of
..£12,392 6s 6d (out of which an in-
erita
dividend atithe rate of 5 per cent. per annum
ivfnas Paid to 30th June last), a result which, consider-
it is lovv rates of interest during the last year, will,
"Ped, be deemed satisfactory. The directors
per-all:I:11"d that a dividend at the rate of 5 per cent
£2,3-9-21111ta (free of income tax) be declared, leaving
loss new account.
Gs Gd to be carried to the credit of profit and
"laeThe directors of the International Financial Society
•
Issued their report. The accounts show an
i.eveailable total of £45,116, out of which the directors
ann°4llllend a dividend at the rate of 5 per cent. per
tiaipl free of income tax. Half of this having been
tien'4oll337 way of interim interest in July last, the divi-
Vte „n„".,Payable will be 2s Gd per share. This,
the e reserve to tl; v`°vlaing for the necessary amount to be car i
_n.rticles
erve'fund, in conformity with Clause 25 of
of association, will leave a balance of ~,?1604 to be carried forward. to the next account.
directors have also decided upon recommending
zuo.„l,lle shareholders the reduction of the capital of the
ta`rY
,to £1,500,000 in £150,000 shares at £lO
for thisvvitil £5 paid thereon, and special resolutions
aft_ purpose will be submitted to the shareholders
er the termination of the ordinary business of the
'The h lf
ton a 'Yearly meeting of the Herne Day, Hamp-
arid Reculver Oyster Fishery Company has been
Veiled for the 31st inst. ; and the Oyster Company
the
called their meeting for the same day, to receive
'oeAdirectors' report and statement of accounts.
Tr' special general meeting of the New ~4'etilana
;_ Ist and Loan Company will be held
i05..t2., for the purpose of declaring an'interipa
,_The following is the report dividend.
r;;Li the 22nd
seated
and County Pdek
_4ted at the half-var 1::1 the directors of the
(Limited), to be pre-
sent
of January meeting, on Friday, the
4.1 2d brought. the balance of £4,156
Including
from the previous half-year,
there iS Low a net profit of £41,393 5s lld to be
there `ow
Of this amount the directors propose
add
Will £15,700 to the reserve fund, which
thus be raised to £l2o,ooo—to pay the usual
dividend at the rate of 8 per cent. per annum, which
together with the income tax, will absorb £15,203
12s--and to carry forward £1,189 13s lld to profit
and loss account of the present half-year. In order
to make the paid-up capital of the bank an even
amount of £600,000, one hundred and one shares have
been sold at a premium of £3 per share, being the
Market price of the day. The general business of the
bank continues to increase ; and during the half-year
a sub-branch has been opened at Colne.
The ordinary general meeting of the Norm Western Bank has been called for the 28th inst., to
transact the ordinary business of the company.
The directors of the Birmingham Financial Com-
Pally recommend a dividend of 10 per cent, per
ozuin
m, leaving a balance of £1,155 to be carried
forward.
The report of the Victoria (London) Mining Com-
PanY states that the directors are not able to declare a
idaividend for the past half-year, but, on the other
4 arid, to meet the existing liabilities, they have made
it call of ls. per share, payable by the 10th of Feb-
••ary,
Zhe
Stock Exchange has been opened at Liege. The
ow,
Belgian law providing freedom in trade as to
kers has come into operation, and Brussels is now
;free market, the same as London, Frankfort., Am-
-4ro
E dam, and Geneva. The rules of the Brussels
vie:,Exchange have been entirely revised with this
1,111,e Hungarian Loan is not expected to be intro-
t'eeu in Paris before the 20th or the 22d inst., and
eoseems likely to meet with a favourable reception,
t. 1.1 from the Bourse and from the public. It is
4tltilatecl that 100,000 obligations out of the number
into which the loan will be divided have been sub-
Seribed in Hungary itself by anticipation. The excel-
iiere. hnt harvest of last year has made money abundant
the Hungary will probably take one-seventh of
emwhole number of obligations.
The following are the rates of backwardation anti
wuo,ntinuation current for the fortnightly settlement
01.11,Y1 closes to-morrow. They show that the scarcity
,ailsvay
eaf" Stocks increase
e"liao Railway ... to back, closings to 1,1 bact.
eat Eastern ... even to 1.16 contango, closing
1.16 to a.
4. to a contango.
.• back to A contango, closing
Leeds Stock3.l6and
N. e/vetno
eko,nctlaorsigho,,g ba ck.
to closing 1-16
Great'ltitt Western to 3.16 back.
,i,l-16 to 3.16 do.
u"a .„ „ • Oven, to a back, closing /to

11734!Iteat North
to A. ern •
••• .

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