The Sun.
London, England, 1870-01-31 00:00:00

AiONEY ALARKET

AND

COMMERCIAL INTELLIGENCE.

CIFY, Two O'CLOCK.

On 'Change to day business was resumed with
More than usual activity. The New Chiiiau Loan
has been received in the most favourable manner,
and the extent of it may be judged wi:en the price
already quoted for it is Ito 1+ prem. The New
Russian Loan is very firm at 2f to preen., and
the other foreign securities keep firm. In Eng-
Railways prices are improving, and for American
Securities the market is looking up, Erie being
quoted at advanc. In Telegraph Shares there
is some activity, but for Banking and Misalaneous
shares the prices are nearly the some as those of
Saturday. The demand for discount has somewhat
subsided, but the rate is not much below 3 per cent.
for first des; bins. _ _ _

Commis are now at 92; to 921 for money ;
ditto, for Account, ; Three per Cent. Re-
duced, 921 1; New TL:ree per Cents, 921 ;
Exchequer Bills £l,OOO, March, prim. ;
June, 5 prem. ; ditto £lOO, £2OO, and £5OO, March,
Par ; June, dis. ; Bank of England Stock,
41 per Cent., 239.
India Stock, 10f per Cent., April, 1874, 207 9 ;
ditto 5 per Cent., July, 1880, 1111 1 ; ditto 4 per
Cent., Oct., 1888, 1001 ; ditto Enfaced Paper,
5 per Cent., 1141 ; ditto Debentures, 1031 ;
ditto Bonds under £l,OOO, 22 25 prem.
In the Foreign Market Russian, Egyptian, and
Peruvian are a fraction higher, otherwise this is no
change. The prices are now as follows :—Argen-
tine, 85 to 86 ; Egyptian (1864), 911 to 921, and
ditto (1868), 761 to 761. Italian are 541 to 544 ;
Mexican 15 to 151 ; Peruvian, 781 to 781.
Spanish are quoted 571 to 271; Turkish Five per
Cents., 431 to 431 ex div. ; ditto New, 1 to 1
Preen ; Chilian, 961 to 971 ; Viceroy's .!..Seven per
Cents., 804 to 811 ; Russian (1862), 85 to 851 ;
Orel, 831 to 831 ; Nicolas, 661 to 67 ; Moscow, 81
to 82 ; and Charkof, 83 to 831.
In the Railway Market South-Western, Metro-
politans, and South-Easterns have improved. The
quotations are now as follows :_Caledonian, 77f to
78 ; Great Eastern, 37 to 371 ; Great Northern,
1111 to 1121 ; ditto (A), 1111 to 1121 ; Great
Western, 63 to 631 ; Lancashire and Yorkshire,
1274 to 1281 ; London and Brighton, 401 to
451; London, Chatham, and Dover, 15 to 151;
London and North Western, 1231 to 124 ; Lon-
don and South Western, 93 to 95 ; Metropolitan,
781 to 781 ; Midland, 123 to 1231 ; North
Eastern (Berwick), 127 to 1271; and South
mastern, 761 to 7634.
In Bank Shares the following are now the quota-
tions :—London and Westminster, 571 to 581 ex

div. ; Loudon and County, 491 to 501 ; Loudon
Joint Stock, 311 to 321 ex div., being a rise of
10e. ; Union of London, 35 to 36; Imperial Otto-
man, 2} to 2/ iron. ; and Chartered Mercantile,
311 to 32i.
American Five-Twenty Bonds are 87 to 871;
do. Ten-Forty Bonds, 84+ to 84/ ; Erie shares are
19+ to 19/ ; and Illinois are better, at 103 to
104 ex div.
Great Luxemburg shares are 13k, and Lombardo.
Venetian 191 to 20.
In Telegraph Shares Construction and Main-
tenance have improved 1, being 39 to 391. India
Rubber Telegraph Works are 57 to 59 ; British
Indian Submarine and Fahnouth are better, the
former at 14i to 15/, the latter 31 to 4 prem ;
China Submarine, to I prem. ; Anglo-American,
191 to 191 ; French Cable, 171 to 171; and Sin-
gapore, 2 prem.
At Mark Lane this morning the attendance was
very limited, and trade ruled dull, the change in the
weather doubtless leading to the inactivity. The
amount on offer was not large, but bad a clearance
been required a reduction of price must have been
submitted to, even under present circumstances,
where transactions took place on trifling concession
of sates, compared to those of Monday last, had to
be submitted to.
The sum of £36,000 in bar gold was withdrawn
from the Bank on Saturday for the Continent.
The Ceylon, from Alexandria, has brought
£330,000 in Australian gold.
The prospectus is issued of the Calcutta and
Singapore Telegraph Company (Limited), the pro-
Posed capital of which is £600,000, in £lO shares.
The object is to lay down a submarine telegraph
cable between Calcutta and Singapore, with inter-
mediate stations at Penang and Malacca. The
length of the line will be 1,825 nautical miles, and
it is stated that the depth will not anywhere exceed
100 fathoms.
The directors of the English, Scottish, and Aus-
tralian Chartered Bank recommend the payment
of a dividend at the rate of 7 per cent. per annum,
free of income tax, on £600,000, the paid-up capi-
tal of the Bank, £21,000 ; to the reduction of bank
Premises and furniture accounts, £l,OOO ; leaving
to be brought forward, £652 7s 7d.
Mtasrs. J. S. Morgan and Co. have issued the
prospectus of a Chiliau Government 5 per Cent.
Loan for £1,012,700 sterling, redeemable at par
by an accumulative sinking fund at 2 per cent. for
the first five years, and 1 per cent. subs,quently,
by semi-aunual drawings. The price of issue is 83
per cent., payable by instalments, as follows, viz. :
--On allotment, £l5 ; on Ist March, £l5 ; ou
let April, £l5 ; on 2d May, £l5 ; on Ist June,
413 ; and on Ist July, £lO (less £2 10s.
interest coupon, less income tax). After allow-
ing for discounts, prepayments, and the action
of the sinking fund, the return to an
investor will be 60. per cent. Apart from the
general liability of the Government, the loan has a
special security, for it is recited in the prospectus
that i 4 The Government engages that the proceeds
Of this loan shall be exclusively applied towards
making the railway now in course of construction
between Chilian and Talcahuano, which railway,
and the income and proceeds thereof, are pledged
and mortgaged 4as and by way of further and
Special security for the due and punctual payment
of the interest on the bonds, and also for the
redemption thereof.'" The total of the present
debt of Chili is about 41 millions sterling. Since
the last loan in 1867 £900,000 of debt has been
redeemed.
The half-yearly meeting of the Bristol and
Exeter Railway Company will be held on the Ist
of March at Bristol.
The Merchant Shipping Company have an-
nounced the interim dividend at the rate of 5 per
cent. per annum.
The lndo-European Telegraph Company is now
at work, and transmits messages to and from Cal-
cutta, Bombay, and all places in India west of
Chittagong.
A petition for the winding up of the Glyn Neath
Steam Coal and Iron Company (Limited) is to be
heard before the Master of the Rolls on the 12th of
February.
The half-yearly meeting of the North Eastern
Railway Company is called fur the 18th of Feb-
ruary. The meeting is also specially convened
for the purpose of submitting to the propriaeria.
tiors
for approval the two bills promoted in p

The thirteenth half-yearly report of the London
Financial Association (Limited) states that the
total liabilities amount to about 237,000, but de-
ducting the cash balances at bankers, viz., £12,659,
and short bills £ 10,000, together £22,659, the ha.
biliti!s will stand at about £215,000, being less
than at the last half-yearly meeting. The accrued
or accumulated intero.st amounts to about the billu
Of £82,000. Tiler,: has been received during tile
past half year £7,372, which the board itipeed to
accept in debenture stock, and there has also
been the further sum of £17,516, secured in
another form. Tile association holds securities to
the nominal amount of 12,159,901, which are all
fully paid up.

ERITISH FUNDS-CLOSING PRICES.

IiOVERNNIENT
3 per Cent. Con so
Ditto for Ac..;_; tti.t
. 92i t

New 2i per Cent. J au. .1.94
Do. 6 per Con J5n.1.873