The Sun.
London, England, 1868-01-15 00:00:00

MONEY MARKET

AND

OOMMERQIAL INTELLIGENCR,

CITY, Two O'CLOCK.

The improvement in the Stock Market noticed
all this week continues. There is a steady demand
for investment, in consequence of the excessive ac-
cumulation of money in every direction. The bear
speculators have been considerably inconvenienced
during the progress of the settlement which
closes this afternoon by the tenacity of holders and
the steady purchasing of the public. It is probable
that the lesson will have a beneficial effect upon the
future policy of adverse dealers. The most
notable feature is the further fall of St. John del
Rey shares, on the report received by the share-
holders this morning.
The Discount Market is very quiet, and the best
class of commercial paper is being readily taken at
11 per cent.

The failure is reported in the Stock Exchange of
a bpeculat ive jobber, who is one of the me►nbers of
that body who made L►rge gains during the panic
of 1866.

The Corn Market is quiet, at Monday's prices.
Consols are steady, at 928 to 92i for money and
account. New and Reduced Three per Cents.,
921 to 928 ; India Five per Cents., 111 to 1111 ;
Bank Stock, 240 to 242 ; Exchequer Bills, 225. to
275. prem.

Foreign Stocks are without change from last
night's prices. Mexican are quoted 154 to 151 ;
Greek, 12 to 121 ; New Spanish, 35 to 351 ; Italian
(1861), 411 to 421 ; Turkish (1865), 304 to 301 ;
Portuguese Scrip, 1 to 14 prem. ; Egyptian Railway.
Loan, 904 to 911 ; and Brazilian (1865), 75 to 76.
The New • Honduras Loan is steady, at 4 to 1
prem, ex coupon.
In American Securities United States Five-
Twenty Bonds are steady, at 714 to 711 ; Erie
Railway, 4 better, at 481 to 49 ; Illinois are quoted
844 to 854 ex coupon, being 4 higher.
Atlantic and Great Western Railway Debentures
have receded 14, to 23 24, and the Consolidated
Mortgage Bonds 1, to 211 211.
Railways are scarcely so good as at the opening.
As compared with last evening, there is now a rise
of 1 in Caledonian, at 74 to 741 ; of 4in Great
Northern A, at 1064 to 1071 ; and of 4 in South
Eastern, at 674 to 68, and in Great Eastern
at 29 to 294; Brighton shares are 4 lower,
at 471 to 484 ; and Sheffield also at 44 to 441 ;
Midland are scarcely so good, at 1031 to 1044.
There is no change in the Lancashire and York-
shire, at 123 to 1231 ; London and North-Western,
at 114 to 1144 ; Great Northern, 106 to 107 ;
North British, 334 to 341 ; and Great Western, 454
to 453
4 •

Union Bank of London Shares are 30k to 31i ;
and National Discount, 10f to 11.
The receipt by the shareholders of the St.
John del Rey Mining Company of the report
alluded to yesterday has been followed by a
further considerable fall in the price of the
shares, business having taken place at 29/. The
fire broke out in the Cachouda mine on the
night of the 21st of November. It was subdued
on the 23d, and it was believed was wholly ex-
tinguished by the morning of the 26th. No opinion
eould be formed as to the extent of the damage
until the mines were re-opened and examined, which
It Was not thought prudent to do hurriedly. Mr.
Gordon, the manager, was closely investigating the
cause of the fire, but at the date of his last letter no
conclusion had been arrived at.

CITY, TWELVE O'CLOCK.
ZsT*elve thousand sovereigns were sent into the
1,..
4!-, Yesterday for Lisbon.
London,
following is the Report of the Union Bank of
nd.os,
for
_adopted at the meeting to-day :—" The
directors have to report that the net profits of the bank
the six
months ending 31st December last, after
13,,aYraent of all charges (including the sum of £52,638
.va:ssios: for interest paid and due to customers on their
clyrent and deposit accounts), and making ample pro-
for all 'bad and doubtful debts, amount to
.489,711 5s 9d, which, with £11,479 4s 7d brought
liorward from 30th June last, amount to
.£101,590
lat 4g. The directors now declare a dividend for the
-- Six months at the rate of 15 per cent. per annum
on the paid-up capital, clear of income tax. After
IttYinent of the dividend, amounting to £90,000,
there will remain a balance of £11,190 10s 4d to be
carried forward for appropriation at the end of the
firlancial year in July next. The dividend will be
PaYable on and after Monday the 20th instant.
11.. The report of the National Discount Company
44inlited) is as follows:—The accounts which the direc-
at:3 have now the pleasure to submit to the share-
erat show for the half-year ending 31st December
r g )
t a gross profit of £89,002 4s, and after deduct-,
Pnrn_he current expenditure, directors' and auditors
eneration, writing off £142 6s 8d towards re-
e.
t, 1011
batealr.et of premises, and reserving £21,104 4s
f interest on bills not due, there remains,
Rah the sum of £3,499 18s brought forward from the
aPl:eilevdisttaacctount, £61,647 lOs 6d. The admits of
the rate of 15 per cent, per annum,
whit the will absorb £59,841, and leave a balance of
)",1.1,,806 103 6d,
rotation are— to be carried forward to the next
r`,_L-Year's account. The directors, who retire by
G. Burnard, Esq., H. H. Toultnin,
eligible land F. C. Wilkins, Esq., all of whom, being
irt.,4l.i.ivoiers,,
J. M.
themselves for re - election. The
M. Bell and J. R. Morrison, Esqs.,
ands
al accordance with the Articles of Association,
Thei being eligible, offer themselves for re-election.
.. dividend, free of Income-tax, will be payable on
.ptiie.Tschoeunfotllovving
4nsit.after the Ist of February next.
is the report of the New Consolidated
Company :—The directors have much
Lal, pleasure in submitting to the shareholders the acce
i eneyeiranbgebr,allaBn6ce7-,sheet, for the half-year ending 31st
'9a lld -- . showing a gross profit of £12,852
for lncluding the balance of £651 Os 3d, brought
tiaw,rcl from last account. The nett profit, after de-
ction of current expenses and rebate on bills not
due, is £4,173 4s ld, which the directors pro-
the appropriating as follows, viz.:—£2,256 9s 9d to
per
Payment of a dividend at the rate of 7i per cent.
the annuill (free of income tax) ; adding £1,300 to
and carrying
reserve fund, which will then amount to £3,000;
the balance, £616 14s 4d, to profit and
loss
i. tiolv account. In accordance with the Articles
°I Association Messrs. W. McArthur, H. F. Sande-
tam), and J. C. Simonds retire from the direction,
,a,°(l2 being eligible, offer themselves for re-election.
The auditors, Messrs. James Cooper (of Johnstone,
Cooper, Wintle, and Evans) and Whitbread Towson,
also retire, and offer themselves for re-appointment.
Tenders for the New South Wales Government
Five per Cent Loan for £758,000 were opened yester-
day afternoon at the Oriental Bank, when it was found
that applications had been sent in for .£1,125,000.
The minimum price was fixed at £94 per £lOO ; and
applications at and above £94 3s 6d will receive allot-
ments in full.
A. petition has been presented to the Lord Chan-
cellor for the winding up by the Court of Chancery of
the Great Cwinsytnlog Silver-Lead Mining Company,
by a creditor ; and to the Master of the Rolls, by a
contributory, for the winding up, under the super-
vision of the court, of the National Standard Fire
Insurance Company. A creditor has also presented a
petition for the winding up of the Stourbritige Glass
ernpany (Limited), to be heard on the 24th instant,
before Sir John Stuart.
Sill r. Frederick B. Smart (of the firm of Fredk. B.
tart and Snell, 38, Gresham-street), public ac-
ontant, has been appointed official liquidator of the
Qnclen Quays and Warehouses Company (Limited).
.A. nieetin,g of shareholders of the Caledonian Rail-
lp Compa -
ny was held on Monday at Dundee—Mr.
rilliam Lowson, of Balthayock, in the chair. The
°ceedings were private, but we (Dundee Advertiser)
:e V state that, on the motion of Mr. Stewart,
ornded by Mr. Soot, it was unanimously re-
wivir to appoint Messrs. William Lowson,
lam Harris, and John Sharp, a committee
te confer with the Investigation Committee, and
with any
tacommittees that may be appointed by
' reholders in other districts, with a view to the itu-
lirovetnent of the affairs of the Caledonian Railway
ou
be IP3°Y. An opinion was expressed that it would
desirable for the shareholders to meet in each dis-
trictw, and instruct committees as to the course that
I°l-Ild be followed at the general meeting on the
24. Thesetvotithe committees c.euld then meet thgether
veil arrange upon a line of action which would pre-
general meeting—like too many meetings of
I,Placl—falling into confusion.
~i. The ninth half-yearly meeting of the National
ailtnK cf A.ustralasia was held at the [lead Office,
re 'bourne, on the 15th of November, when the
ceP?rtt recommending a dividend at the rate of 10 per
11„14., and bonus, at the rate of 2f per cent., was
cituously adopted.
wa4:he traffic receipts of the Great Luxemburg Rail-
tier,3' COinPany for the week ending Jan. 12 show a
'tease of £1,059 4s. ,
.At the meeting to-day of the London and West 7 :41,1oster Bank the directors' report was adopted. It.
"'teB that the net profits for the last half year amount