The Sun.
London, England, 1870-03-23 00:00:00

THE MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The operations on the Stock Exchange to-day were
steady, and Consols in a short time after opening
went up nearly In the Foreign Market Spanish
again improved, and we have now to quote
it to better than yesterday, American Stocks on
the contrary, are drooping, the Five-twenties being
-41, lower.

There is a good demand for discount at the Bank
and at discount bons s, but 3 per :cent. is still the
rate, except for day to day loans, for which a trifle
less is taken.
The Corn Market opens witn a quiet but steady
tone. Prices are the same as on Monday for all
kinps of grain.
Consols are now at 93 1 to 93 for money; ditto,
account, 931; Three per Cent. Reduced, 911 4 ;
New Three per Cents., 914 1 ; Bank of England
Stock, 44 per cert., sut.
Exchequer Bills £l,OOO, 24 per cent., March, 4
Prem.. ; ditto £lOO, £3OO, and £5OO, par to 4 prem.
India Stock, 185 per cent., April, 1874, ;
ditto
5 per cant., July, 1880, 1121; ditto 4
per cent., Oct., 1888, 100; ditto Enfaced Paper,
4 per cent' ,
In the Foreign Market the Argentine Six per
kjents, are quoted at 905 to 91 ; Turkish Fives,
451 to 461; ditto Six per Cents., 67 to 671 ; Italian,
554 to 555 ; Egyptian (1864), 935 to 941 ; Brazilian,
874 to 885 • Spanish, 274 to 271 ;
• ' Orel-Vitebsk, 87
to 874 ; Nicolas, 69 to 694 Moscow Jaroslaw,
84 to 845 ; and Charkof Azof, 821 to 831.
In the Railway Market the prices are now :
Caledonian, 774 to 774 ; Great Eastern, 371 to 371 ;
Great Northern (A), 117 to 1175 ; Great Western,
67 to 675 ; Lancashire and Yorkshire, 1251 to 1254 ;
London and Brighton,42l to 435 ; London,Chatham,
• a., 'I
' d Dover 144 to 15/- ; London and North
Western, 1234 to 1234 • Metropolitan, 791 to 794 ;
Midland, 1245 to 1244: South Eastern, 744 to 741 ;
and ditto Preferred, 1091 to 1094.
Anglo-American Telegraph Shares are 1 lower, and
are now marked 175 to 171; and French Cable,
to 154. British India Submarine are unaltered, at
12 to 125 ' • China Submarine, 15 to 11 dis. ; and.
Falmouth, 91 to 101. Construction and Mainte-
nance are 1 higher, 371 to 371 ex div.
American Five-Twenty Bonds are 1 lower at 905
to 904 ; Erie Shares, 214 to 215 ; and Illinois, 1151
to 1151.
In Bank Shares London and Westminster are
quoted 595 to 605 ' • London and County, 474 to 485 ;
Union of Landon, 365 to 374 ; Imperial Ottoman, 34
to 41 i.rem. ; and Alliance, 13 to 14 ; Agra (A), 115
to 12.

The steamer City of Boston having been out 53
days from Halifax, the underwriters at Lloyd's and
the principal marine insurance offices refuse to take
fresh risks. The last tran.taction reported was on
Saturday when business was done at 70 guineas
premium.

- The Pacific Steam Company's ship Magellan is
announced at Lisbon, with dates from Rio Janeiro
to the 3d inst., being six d►ys latez.than the irevious
advices. The rate of exchange was steady at 192 d. to
20d., and there was nothing new from Paraguay.
The report of the City Offices Company, to be
presented on the 31st inst., states that there is a
decided improvement in the demand for offices in
London ; and tlat, as the company's properties are
all well situated, and convenient in their arrange-
ments, they cannot fail to benefit from the change of
circumstances. The profit arid loss account, however,
on the present occasion, shows an adverse balance of
£691.

The report of the Central Argentine Railway
Company, to be presented on the 30th instant,
states that the heavy portion of the works of the
last section, terminating at Cordova, is virtually
complete, and that the fullest confidence is enter-
tained that the railway will be ready to be opened the
entire length for public traffic by the 30th of next
Inonth.
According
to a telegram from the Under Secretary
Pr Finance and Trade, Sydney, to Mr. W. C. Mayne,
le London the Colonial Treasurer made his financial
taternent on the 7th of February. The revenue for
1869 had exceeded his estimate by £5,000, and the
ordinary
expenditure was less than the estimated by
58,000. The estimated revenue for 1870 is £133,000
1P excess of the colimated expenditure of 1870. The
-`jeasurer proposes to make a small funded debt in
the, colony of the deficiency loans to meet a demand
for investment of trust funds ; under that arrange-
illent intending to abolish the ad valorem duties and
Postage charge on newspapers.
The Admiralty have appointed Messrs. Hogg and
Robinson, of 34, Eastcheap, as their City agents for
engaging freighi, and shipment of stores under the
transport Department on and after the 31st inst. The report of the liquidators of the Imperial
Land Company of Marseilles (Limited), just
ssued, refers in detail to the incidents connected
Ivith the formation of the undertaking, the mis-
°l3l3repriation of its funds, and the proceedings
t
aken in the Court of Chancery against various
parties. The claims again,t the company, subject
'0 reductions, stand at £1,251,389, while the
assets are estimated at £1,391,075, including a
claim against the Credit Foncier of England, the
successor and assignee of the Credit Foncier and
4obllier of England, of £1,026,000, " being the
amount shown by the evidence to have been paid to
and for which they are accountable to this
eicenipany." In addition, the company own land and
l
• °uses at Marseilles, " the market value of which it
14 difficult to estimate, as purchasers appear to be
waiting for the chance of a peremptory sale, should
he liquuidators, through a want of funds, be unable
to discharge the original mortgages ;" and there is
the uncalled capital, which the liquidators will en-
deavour not to resort to. In fact, they "do not
despair of making the shareholders a considerable
return of the moneys paid."
At the meeting of the directors of the Hong Kong
and Shanghai Banking Corporation (Limited), held
ni Hong Kong on the 3d ult., a dividend was de-
'red of 7.50 dole. per share on the paid-up shares,
end of 3 dole. rer share on the new share-a, being
quivalent to six per cent. for the half-year.
With reference to the National Telegraph Manu-
facturing Company (Limited), an undertaking re-
cehtl9 formed to purchase the business and works
.f
Messrs. R. S. Newell and Co., of London and
Gateshead
on-Tyne, it is announced that—" It
ing been represented to the directors that a
division of the company's capital into shares of
x
each would be generally more acceptable than
have
existing shares of £25 each, the directors
wiive determined to withdraw the prospectus of
.e company, and contemplate the re-issue of one
toth a genonaina capital divided into shares of the smaller
tion."

BRITISH FUNDS—CLOSING PRICES.
8 GJVERNMENT rUNDS.
per Cent. Consols
.. Ditto for Account 931
.t:,,per Cent Re luced
9
por Cent
Nov' 21- per Cent. Jan. 1894
Do. 6 per Con Jam. 1873
Do. for 30 yrs, expire sth April 1885 —
.. Do (Red Sea Telebraph). Aug.,
' (.111,0quor Bills, £l,OOO, 23 p. Ct. March — pm
Do
Do. 21 do. June —
£lOO, £2OO & £5OO —
sank of England Stock, 43 por Cent
0. opening —
0 thada 4 per Cont. Bonds —
latar-Colonial (Annum
ENDIAN GDVERNMENT SECIJILITIEb.
I DO. Stock, 10} per Cent., April 1874 —
Do. Opening, for Account —
Da. a per Cent. July, 1880
Do. 4 per Cent. Oct. 1BAR
D ~ Enfaced Pao,. 4 per Cent..
__

. 5 per Cert.;Jan.lB72 „: ."
D 5} per Cent. May 1879
.... ...—•
Do. 5 ner Cent., Rup. Dal,. 187') ...
•••
. ......
D 3 do le—
...A .......
Do. do. 1882.....
." "
, 0000— --
D . fob., 5 per Cent., Aug.. 1873 o • 00000
o Bonds; 4 per Cent., .Cl,OOO ....
.....
no. •inder £l.OOO ............................. .. -- ,
FOREIGN FUNDS—CLOSING PlucEs.l3nl
A-go/vine liopubhc, I, p,r Cont .„:„ . ...... 901 1
00 Acc.‘unt ....
Anitri; n Bonds 5 per can. ..

Do. 1859 00000 .
Bra.tilian 5 per Cent
Do. 14 por Cent. 1852
Do. do 1858
Do. do.,
8
Do. 5 per Cent., 118(:' *****
•••
*******
1888°
13•;. A.e.•ount
Thos Aree c; per (7ont.
bo 2 peyr Cent. (Deferrsd 3 per 93;
F per Cent
11.1tan'1; ;'tr Cola
Do. Do. 34} per
Ce. ******
pair nt,