Money Market And City News.

MONEY MARKET AND CITY NEWS .

FRIDAY . In view of the approaching Easter holidays , and the excitement caused by the recent failures , the course of business this week has been materially interfered with . Nothing could have transpired to cause greater disturbance in the Money Market at the present time ,

than the suspension of such a firm as J . C . Im Thurin and Co ., the worst of it is , in such cases , that smaller houses are brought down in the crash with the larger , and , unfortunately , no one knows where it will end . It so happened that the event which caused all this disturbance has been expected for some time , so that City people were

not taken quite so much by surprise , and to this may bo owing the calmness with which the news was received , Tho announcement , and its probable effects , affords abundant food for speculators , of course not only here but abroad , where tho extensive transactions of the firm in question were largely directed . A great deal of

exaggeration will naturally , at such a time , find its way into circulation , but the state of affairs will , it is hoped , turn out more satisfactory than appears at present to be expected . Whether the stability of commercial progress in France will be further strengthened by the change of Ministry , remains to be seen , but

this much we do know , that some extraordinary movements have lately taken place on the Paris Bourse . Speculation has been indulged in to an extravagant extent , and the latest report is that two largo operators have had to appeal to their creditors ; with what result we have yet to learn . That money has been

accumulating in Paris to an enormous total everybody knows , hence the mania that has seized upon a section of the community for speculation , to be followed by the usual re-action . Consols show no material change , although the condition of prices is weaker than beiove .

The market for foreign securities has been effected more by the advices from Paris than by anything else ; the tendency is far from strong , and operations are conducted with an extra amount of caution . British railway stocks , like other classes of securities , have been

sensitive and affected by the same causes , viz ., the recent commercial failures ; the extra holiday traffic will , no doubt , bring increased receipts , and we may possibly see a considerable improvement in the price current before long . Most of the American obligations remain without feature , although

telergaph rates have declined , as have also Hudson ' s Bay shares . It appears , from a parliamentary return just issued , that in the year ending the 30 th September last , 31 , 778 , 474 lbs . of sugar were consumed in breweries in London , and 47 , 279 , 293 lbs . iu tho provinces ; 820 , 173 lbs . in Scotland , and 6 , 140 , 457 lbs . in Ireland ,

making a total consumption in breweries of 86 , 018 , 397 lbs . Tho annual general meeting of the Army aud Navy Co-operative Society will be held on the 31 st instant . It will bo proposed to raise the capital from £ 30 , 000 to £ 60 , 000 . Wo find , from tho returns that are forthcoming with regard to the

trade in Australian meat , that a remarkable amount of steadiness has characterised the trade in preserved meats during 1874 . The importations for 1874 were 13 , 270 tons , valued at £ 751 , 709 , as against 13 , 061 tons , valued at £ 733 , 848 , in 1873—and 17 , 601 tons , valued at £ 906 , 680 , in 1872 . This increase in the importations during 1874 was

owing to the quantities received from vanons now fields of production ; for , although many of tho meat preserving companies in Australia and New Zealand ceased or slackened operations , new establishments have been formed in South America , Canada , California , Texas , and other portions of the United States , tho produce of which have more

than counterbalanced the deficit in the supplies from the Antipodes ; and as the quality in most cases is good , and the prices realised satisfactory to producer , there is every prospect of shipments from these places during the coming year continuing very large . The North British Eailway dividend is officially announced at the

rate of lh per cent , per annum for the half year , against nil at the corresponding period of 1873 . The Hamburg American Steam Packet Company and the German Transatlantic Steamship Company have resolved upon amalgamating their business so far as regards tho traffic to and from America .

Tho Committee of Inquiry into the scheme for constructing a tunnel between Franco and England has held a sitting , and adopted the tariff , for goods aud passengers proposed by M . Michel Chevalier . The construction of the tunnel itself is only a matter of detail . The second yearly report of the Silber Light Company ( to 27 th

February ) shows that after deducting expenses , and writing oil 10 per cent , for depreciation , aud £ 500 ( equalling 20 per cent . ) ofi preliminary expenses , there remains a net profit of £ 8 , 509 . A dividend is recommended for the year , at the rate of 10 per cent , per annum , free of income tax , which will leave £ 431 to he carried ' . forward . The London and North Western Company propose to create an additional capital of £ 2 , 075 , 000 perpetual fire { per cent , ' preference

Money Market And City News.

stock , to be offered to the proprietors of ordinary stock . It is understood that the stock will not be offered to the proprietors at present , but probably some two or three mouths hence . The annual report of the North British and Mercantile Insurance Company , to be submitted to the meeting ou tho 2 nd of April , states

that £ 824 , 941 net was received in premiums , and £ 155 , 999 paid in losses in the fire department alone . A third of the profit is set aside aa a special reserve , and a dividend of 30 s declared ou the paid-up capital , 12 s 6 d of which was paid last October . The sum of SIOS ^ O ?

is carried to " rest" account as undivided profit , making , with the special reserve aforesaid , a total fund in the lire department of £ 827 , 238 . Iu the life department 873 new policies were issued , insuring £ 672 , 177 .

Tho following statement shows the receipts for traffic on tho undermentioned railways for tho past week , as compared with tho corresponding week in 1874 : — Miles open . Receipts . Bailway . 1875 1875 1874 £ £

Caledonian 737 » Glasgow and South Western . . 315 * 15 , 550 15 , 228 Great Eastern .... 763 40 , 305 39 , 348 Great Northern .... 517 52 , 788 47 , 571 Great Western .... 1 , 525 93 , 366 95 , 611 Lancashire and Yorkshire . . 430 61 , 218 59 , 901

London and Brighton . . . 376 * 23 , 011 22 , 035 London , Chatham and Dover . . 153 i 14 , 893 13 , 893 London and North Western . . l , 582 f 156 , 968 155 , 328 London and South Western . . — 29 , 503 28 , 650 London , Tilbury and Southend . 45 1 , 361 1 , 267 Manchester and Sheffield . . 259 i 29 , 544 28 , 256

Midland 944 * 107 , 338 100 , 143 Metropolitan 8 9 , 090 8 , 674 „ „ District ... 8 5 , 132 4 , 273 „ „ St . John ' s Wood . . If 480 483 North British ..... 839 39 , 112 35 , 752

North Eastern .... 1 , 379 116 , 196 114 , 964 North London .... 12 6 , 854 6 , 658 North Staffordshire Railway . . 190 9 , 653 9 , 646 Canal . . 118 " 1 , 721 - - 1 , 682 South Eastern .... 350 26 , 992 28 , 477

Ho that departs from the Lodge v , his heart untouched by tho light of our Institution is not a true Mason . He may be trimmed and squared , the workmen may have polished him until his illumined mind sparkles with the rays of intelligence , but the builders daub with untempered mortar , and their edifices will soon show the imperfect material .

Earlswood Asylum.

EARLSWOOD ASYLUM .

Our respected Bro . tlie Right Hon . the Lord Mayor presided on Thursday evening at the annual dinner in aid of the funds of the Asylum for Idiots at Earlswood . After the toast of the Queen had been duly honoured , the Lord Mayor proposed the toast of the evening , " Prosperity to

the Asylum , " and , in the remarks which followed , mentioned that the number of inmates in the Asylum was 600 , and pointed out that , although the number of applicants each year was upwards of 2 U 0 , they were only able to select 40 . He also stated that the committee were compelled to

appeal to the public for support , as the Asylum was somewhat in arrear . The Secretary read the list of subscriptions for the evening , which amounted to £ 2293 . The other toasts included those of " The Chairman , " " the Board of Management , " " The Sheriffs and Corporation of the City

of London , " " The Ministers of Religion , " " The Ladies , " and " The " Stewards . " During the evening a selection of vocal music was given , under the direction of Mr . F . Kingsbury , the artistes being Miss Annie Sinclair , Miss Marion Severn , Mr . Pearson , Mr . Kingsbury , and Mr . Farquharson . Mr . H . Marker officiated as toastniaster .

The London School Board , however much good it may be effecting educationally , is evidently falling into the illgraces of Vestries and ratepayers . The amount of money that is being expended in the erection of New Schools has a disturbing influence on the minds of many . People know

there arc already Schools in most of the localities where new ones are being erected by tho Board , at the expense of the ratepayers . Tliey naturally ask , Avhy not utilise the old schools and save our pockets ? By all me ins build new schools where tliere are none already existing , but why multiply thorn . Wo ask likewise—AYiiy ?