The Sun.
London, England, 1868-05-22 00:00:00

MODity mARKET

AND

OMMEROIAL INTZLLIGINCII,

CITY, Two o'CLocK.

The principal feature in the Bank return is the
evidence it affords of a falling off in the demand for
money. There is a considerable increase in the amount
of private deposits, while the private securities show
a slight decline ; and in consequence of this the cir-
culation is a little lower, and the unemployed reserve
is enlarged. The influx of gold, which has been con-
spicuous during the week, has caused the stock to
enlarge nearly half a million ; but much larger addi-
tions must be made before the maximum of a few
months back is regained. The following are the
principal changes since the preceding return :
Decrease is Circulation
Increase in Public Deposits
Increase in other Deposits 259,912
No cliaug, in amount of Government Securities.
Decreare in other Securities 25,763
Increase in Bullion
Increase in Reserve
Increase in Rest
Bullion in both Departments.
Resr.rve of Notes and Coin 11,8(33,813
Circulation, including Bank Post 8i115..21,494,875
' The returns of paid clearing for the week ending
May 20, as certified by Mr. J. C. Pocock, deputy in-
spector, are as follows :
May 11, Thursday
May 15, Fri lay
May 16, Saturday ...
May 18, Monday... ...
May 19, Tuesday
May 20, Wednesday ...

.C 10,848,000
12,016,000
10,809,000
9,786,000
9,604,000
8,045,000

Total ... £71,008,000
This return includes the Stock Exchange settlement of
the last fortnight. Making allowance for this incident,
the aggregate is more satisfactory than that of last
week, and it is in excess of that in the corresponding
week of last year.
Foreign Railways are unaltered. Great Luxem-
burg is inquired for at 11 7-16 to 11 9-16 ; and
Lombardo-Venetian, at 14i to 15k.
Bank shares are quiet, and prices are without
movement. Agra (A shares) are quoted at 10 to 10k;
Alliance, 13 to 12 dis. ; Anglo-Austrian, 42 to
51- prem. ; Chartered Mercantile, 28 to 29 ; Con-
solidated, 4i to 41 ; London and County, 52 to
53 ; London and Westminster, 71 to 72 ; London
Joint Stock, 35 to 36 ; -Union of London, 35 to 36
Foreign Mining Shares are very quiet at yesterday's
prices, St. John del Reys being marked at 18i to
19 •, Port Philip, 1i to 12.; Chontales, 1 to 2k,
Credit Foncier shares are very quiet at 21 to 3 ;
General Credit 21 to 2R ; and National Discount 101
to 114.
in Miscellaneous Securities Hudson's Bay are
steady, at 151 to 15k ; Anglo-American Telegraph,
23 1-16 to 23 3-16 ; Atlantic Telegraph Eight per
Cent., 5 to 5/ ; Fore-street Warehouse, 2 to 1 die..
London General Omnibus, to 2k.
American Securities are steadier. Illinois Shares
opened better, at 951 to 96f. ; of the Five-Twenty
Bonds at 71i to 712 ; Erie, 451. to 452.
The market for Colonial Government Securities is
steady. New Zealand Six per Cent. 'are 109 to 111 ;
Canadian, 104 to 105 ; Mauritius, 105 to 107 ;
Queensland, 1071 to 1088 ; and Victorian, 113 to
114.

The Railway Market is quiet. The changes, which
are fractional only, have no definite meaning. Mid-
lands at 107 to 1074, are scarcely so good as at
the unofficial close. Lancashire and Yorkshire are
1271 to 128 f ; South Eastern, 764 to 77 ; London
and North Western, 115 to 1151 ; Great Northern,
102 to 103 ; ditto (A), 96i to 974 ; Great Eastern,
331 to 34f ; Great Western 534 to 54 ; Brighton,
52/ to 53f ; Sheffield, 42 to 43 ; Metropolitan, 112
to 112 i ; Caledonian, 75 to 754 ; and Chatham, 181
to 19f.
Short dated commercial paper is being readily
taken this morning at 1 to 1/.per cent.
Corn is very dull this morning, the change in the
Weather being considerable; highly favourable to the
Voung wheat.
The English Funds are very firm, the condition of
the money market encouraging investments. Consols
are 93/ to 94; for delivery, and 93k to 93i ex div.
for the 4th of June. New and Reduced are 93f to
931 ; Exchequer Bills, 5s to lOs prem.; India 5 per
Cents, are 116 to 116 k ; and Rupee Paper (1872),
104 to 104 i. Bank Stock is 246 to 248.
Speculative Foreign Stocks are in active request.
Italian, upon the improved financial position of the
government, have risen a fresh -ft per cent., the present
price being 504 to 50/. Turkish a further per cent.
better, at 354 to 36. Brazilian are quoted 761 to 761 ;
Chilian (1867), 95 to 96; Danubian 7 per Cents., 72i
to 734 . Egyptian (1864), 814 to 82 ; Viceroy's 7 per
Cents., 91k to 91i ; and the 7 per Cents., 72i to 73 ;
Greek, 134 to 13 ; Italian, 504 to 50i ; Peruvian
(1865), 8:31 to 83 ; Portuguese, 40R to 40a ; Rus-
‘ian i 186:2), 83/ to 841 ; and Spanish, 36,1,- to 361.-
£245,000 in geld was taken into the Bank yester-
day, including £150,000 from Alexandria on Govern-
ment account.

The Ceylon has arrived from Alexandria with
.£4,690 in specie, and the Baltimore, from New York.
With £12,500.

The steamers which 'eft New York yesterday for
Europe bring £lOO,OOO in specie.
No fewer than 149,000 hectolitres of grain were
reported to have arrived at Marseilles on Monday last
from the D.Limbian and Black Sea ports. These
imports were pressed upon the market, which never-
theless remained comparatively steady.
The Belgian province of Brabant has just emitted
a loan of £170,000, in 44 per cent. obligations,
being part of a loan originally brought out in 1864,
14 £240,000, with dividend from let July next. The
Joan is redeemable by drawings in fifty years, and some
alight advantages accrue to subscribers who pay in
Advance.

A special general meeting of the East London Rail-
way Company has been called for the 3rd of June to
Consider a bill now pending in Parliament.
The traffic receipts of the Bombay, Baroda, and
*Central India Railway for the week ending March
28th, show an increase of £904, and the returns of the
Madras Railway for the week ending March 21st an
increase of £1,071, as compared with the corresponding
periods of 1867.
The traffic receipts of the Great Western Railway
tor the past week show a decrease of £2,600 ; and
the London and South Western an increase of
£3,382.
The traffic receipts of the Bahia and San Francisco
'Railway Company for the week ending 11th April,
allow an increase of £294 as compared with the cor-
r,esponding week of 1867.
The following is from Messrs. Layton and Co.'s
Tea Circular :—" The tea market has been quiet
during the past fortnight ; numerous arrivals have
vtaken place, and the demand from the country has
:Zen generally less active ; importers have, however,
!shown great firmness throughout and towards the close.
"'ales of good common black and red leaf congou are
reported privately at a further slight advance in value.
Foochow Fannings have met a good inquiry at 11-id to
ib; now-make kinds from Canton at lld to Hid per
-.; medium qualities of congou continue difficult of
le at quotations, and in fine to finest 'Moiling and
11.aisows there is nothinr fresh to report."
The peculiar advantages offered by the Great
Britain Life Assurance Society afford a perfectly
novel and equitable system of apportioning the
profits to those adopting one of the most prudent
steps of modern times. That life assurance is
largely availed of is a well-known fact, but that it
is not carried on to that extent which it ought to
be is unfortunately also most true. Doubtless the
fear of default of payment has prevented many
from taking out a policy, but by the system in force
at the " Great Britain Mutual " the directors have
adopted one of the wisest courses ever taken by
panY society. By means of a novel and per-
fectly equitable system of apportioning profits
the bonuses may be applied first in extinguish-
111g the premium, after a limited number of
annual payments, and afterwards in making the
amount of the policy payable during the lifetime of
the assured. The result of such an arrangement is
that the assurer can either secure a " free" or paid-
up policy; or secondly, a sum payable on his
1:1 1 attain-
1, a given age, or earlier in the event of decease.
This System is peculiar to the " Great Britain," and
8.134
it removes the two great objections against the
system of insurance, it ought to secure for the
ogee that preference and consideration to which its
liberality so eminently entitles it.

, BRITISH FUNDS—TWO O'CLOCK.
t;OVERNMENT FUNDS.
3 Per Cent. Consols
Ditto for Account, Juno 4
1,),\1, Per Cent. Reduced 931 44
i\Teelv
~. ~ per Cent
I,' 2k per Cont. Jan. 1891 ... —
Ann
—°. 0 per Cont. Jan. 1873 ..
,uitios, So vrs, expire sth Jan., lost,.
.r,"O. for 30 yrs, expire sth April 1885 —
_"0 (Red Sea Tole;.,raph), Acg., 1908 —
E
chcquer Bills, £l,OOO, 2 per Ut — pm
Do,
10
£5OO
Do.
£lOO & £2OO 5
111„ilk of England Stock, 43,p3r Cent 2401 81
.
-1.)0. Account
14,,.D1A.11 GOVER24MENT SECURITIES.
Va Accounts per Cont., April 1874
4-!0.
o. 5,
D a Per Gent. July, 1880
he'. ' PC''' CULL. Oct. 1888
—. Corti ticates
1)0. Enlaced l'apor 4 per Cent
60. 5 per COW., Jan. 1872
CP' Sit PeCent., May 1679 lO9