The Sun.
London, England, 1870-01-07 00:00:00

MARKET

MONEY

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.

The business to-day on the Stock Exchange is by
no means so active as yesterday, but prices have not
given way. Consols maintained their opening
prices, and Foreign securities are in most instances
firm at their closing quotations. In Bank. shares
there has been a decline of in Oriental and 4in
Agra's, whilst in Telegraph shares there has been a
slight improvement in Construction and Mainten-
ance.

Consols are now at 921 to 921 for money;
ditto, for Acount, 921 ; Three per Cent. Re-
duced, 921 1 ; New Tree per Cents, 921 1 ;
Exchequer Bills £l,OOO, March, 4 prem. ; June,
par 5 prem. ; ditto £lOO, £2OO, and £5OO, March,
par ; June, 1 prem ; Bank of England Stock,
4 per Cent., 236.
India Stock, 101 per Cent., April, 1874, 209 ;
ditto 5 per Cent., July, 1880, 1111; ditto 4 per
Cent., Oct., 1888, 1001 ; ditto Enfaced Paper,
51 per Cent., 111 k 8 ; ditto Bonds £l,OOO, 20
prem.

American Five-Twenties are 87 to 87k, being
lower. Erie shares are 17} to 18 ; Illinois, 102
to 103, a fall of f.
In English Railways there has been a fall in
London and South Western. The prices are now :
—Caledonian, 754 to 754 ; Great Eastern, 381
0 381 ; Great Northern 110 to 111 ; ditto (A),
111 to 1112 ; Great Western, 584 to 594: Lan-
cashire and Yorkshire, 1284 to 1281 ; London and
Brighton, 464 to 461 ; London, Chatham, and
Dover, 15 to 152 ; London and North Western,
1231 to 124} ; London and South Western 92 to
94 ; Metropolitan, 812 to 82 ; Midland, 1231 to
1241 ; South Eastern, 781 to 79 ; and North
Eastern (Berwick), 1274 to 1271.
In Miscellaneous Shares General Credit is dull, at
to a dis , being a deccline of if ; National 'Dis-
count is 11i to 12 ; International Finance, 11 to
11 die. ; and Hudson's Bay, at 122- to 121 ex div.
In Bank Shares there is au advance of 10s. in
London and Westminster, which is now quoted 59
to 60 ; London and County, 49 to 50 ; Oriental,
42 to 43 ; London Joint Stock, 31 to 32; Union
of London, 371 to 381; and Imperial Ottoman, 2i
to 2.1 prem. ex div.

In telegraph shares French Cable are higher,
17 to 174 ; Anglo-American, 19f to 191 ; Atlantic
Eight•per Cents., 2,+ to 24; and Construction and
Maintenance, 331 to 33}.
At the Bank yesterday no bullion operations
Were reported.

The directors of the City Bank, at their general
meeting on the 18th inst., will declare a dividend
at the rate of 7 per cent. per annum, and add
£5,000 to the Reserved Fund, making the amount
of the Reserved Fund £90,000.
At a meeting of the proprietors of the Colonial
Bank a dividend was declared for that period at the
rate of 14 per cent. per annum.
At the general meeting of the Universal Marine
Insurance Company (Limited) the direeLors will
recommend payment of 7s. 6d. per share, making,
with 2s. 63. per share paid in July last, 10s. per
share, or 10 per cent. per annum.
The London, Chatham, and Dover Railway
traffic return, including the Metropolitan Extension
and branches, shows this week an increase of £702,
compared with the corresponding period. of last
year ; the Metropolitan Extension, separately, an
increase of £441; the Great Eastern an increase of
£1,479 ; the Lancashire and Yorkshire an increase
of £318; the North Eastern, an increase of £10,570;
and the Manchester, Sheffield, and Lincolnshire a
decrease of £654.

An extraordinary meeting of the United Dis-
count Corporation (Limited) is called for the 21st
inst., for the declaration of a dividend.
The Llynvi and Ogmore Railway Company are
inviting applications for Debenture Mortgages,
repayable i❑ three, five, or seven years, or Per-
petual Debenture Stock bearing interest at 5 per
cent, per annum, and forming a first charge on the
company's net earnings.
A petition for the winding up of the Imperial
Silver (4, iarries Company (Limited) is to be heard
before Vice-Chancellor Malins on the 14th init.
Creditors of the Yorkshire Fibre Company
(Limited) ara required to send particulars of their
claims to the liquidators, by the 2d February.
The report of the North British Australian Com-
pany, for the year ending Dec. 31 last, states that
the profit has amounted to £13,535 13s. 10d,
which, added to the balance of £493 03. 4d. from
last year, makes a total of £14,028 14s 2d. A divi-
dend at the rate of 6 per cent., free of income
tax, is recommended.
It is stated that, as a natural consequence of the
success of recent telegraphic schemes, an inde-
pendent line of submarine cable for the coast of
Cbina is in preparation, and will be launched im-
mediately.

The directors of the Lion Brewery Company
(Limited) intend, at the termination of the annual
general meeting in February next for the declara-
tion of a dividend, to propose the conversion of
each ordinary share of the company into two shares,
one of £l2 fully paid, to be called an A share, and
the other of £l3, with £3 paid, to be called a B
share, and to make a call of £2 a share upon the
unpaid-up ordinary shares, to provide for the dis-
charge cf the bonds due to the executors of the late
Mr. James Goding.
An extraordinary meeting of the Imperial Con-
tinental Gas Association will be held on the Ist of
February for the
Purpose of considering the pro-
further
vis of a bill now before Parliament for granting
powers to the company.
The return from the Bank of England for the
weeks return
the sth of Jau. gives the following
results when compared with the previous week :--
Rest .......... . 43 092 894 Increase .£7,354
Puhlic deposit; ........... •8,013,647 Increase 1,240,156
Other deposits ........... 17,319,112 Increase 79,605
Oil the other side. of the account :
Government securi-
ties..
Other ................. .£13,811,953 ... No change.
securitie; ..... 18 088,159 lncrease 1,510,278
Notes unemployed:. 10,662410 D 200,665
The amount of notes in circulationecrease is £22,654,940,
being an increase of £254,630 ; and the stock of
bullion in both departments is £19,233,617, showing
an increase of £66,508 when compared with the
Preceding return.
of t
Subjoined is a comparison of the present position
Sue
Bank of England and the prices of Consols
and French Rentes with the corresponding week of
last year

At Present. Same Week
last Year.
Bullion ............... ... X 19,233,617 ... £18,29,1621
Reserve ......... ....... 11,578,677 ... 10,351,436
Notes in circufation... 22,654,940 ... 22,940,185
Rate of discount ...... 8 per cent. ... 3 per cent.
Consols .................. 921 t 92}
/French Rentes ......... 72f. 57c. 70f.
The following is the official return of the cheques
arid bills cleared in the Bankers' Clearing-house for
the week ending Wednesday, Jan. 5
:.....
Thursday
Friday £24,097,000
15,359,000
Saturday...
Tuesday
Monda
18,576,000
Wednesday 11,319,000

#92,243,0-00

BRITISH FUNDS-CLOSING PRICES

(iOVERNMEXT FUNDS...
92i
3 per Cent. Cousol6
9 7[dl
_Ditto for Account Jan. 6
8 per Cent. Reduced
Now a 921 per Cent
New 21 per Cent. Jan. 1894
Do. 5 per Cen J an. 1873 &ianition, 80 yrs, expire sth Jan., 1880.
Do. for 30 yra, expire sth April 1885 —
Do (I{ed Sea Tolevaph). Aug., 1908_
lf.xcliequcr Pills, ..£l,OOO, 2%1 p. Ct. March par
D 1
D. 3 do. June -H m
D.pm
£lOO, £2001,4: £5OO 4 p
Bank of Ene.land Stock, 41 per Cent 237
• • • opening
Canada 4 per Cent. Bonds
nter-Colonial Uranium
IntAN OovEn.xlinNT SEcuarri.es. Anflitt N
..toelc, 10i per Cent., April 1874., 2OBl 71
1)0 Opening, for Account
DD '• 4 per Cent..fuly, 1880
D. 1 per Cent. 'Oct. 138
10
De Eufacod l'ape. 4 per Cent —
D. 5 per Cert., Jan. 1872 ...
Da. 54 per Cent. May 1879• lll
4.1 z 5 per Cent. R Der 18-9
. up. r.
Do
do.
•""

do. 1882
Deb,, 5 per Unit., Aug. 1M73

BondF. por Ceut., £l,OOO
Do. trader £l,OOO

FOREIGN FUNDS—CLOSING PRICES.
trzentine Republic, F per Cent ...
Do. Aco,o3rit
ctuitrian Bonds 5 por cent

Do. 1859 —
Bra Lilian 5 per Cent —
110. 4} per Cont. 1852 —
Do. do 1858....
Do. no 186 n —
Do. do., 1863 —
Do. 5 por Cent., 1865
D. Account .. 9O 89 ' 4
I ionos Tyros 6 por Cont.
Do 2 per Cont. (Deferred 3 per Cent )
Culyt, 6 per Cent.
Oullian 6 per Cent . —
Do. 4i por Cent....
Do. 3 per Cent.,
Do. 7 per Cent., 1866
Do. 6 per cont. 1867 97} 1-
:i 10 nbian, 6 per Cent.
Danish, 3 par Cont. 1825
Daroibian Principalities, 7 per Cent 89A490
Do. Acccunt
Do 8 per Cent., 1867 93.:
Ecuador New Con3olidated, 1 per Cent
Egyptian, 7 per Cent B7}
Do Second issue —
Do. £S6C Bonds
Do. 1864 —
Do. Account
Do. £5OO Bonds
Do. £lO6 Bon is — _

Do. 7 per Cent., 1868 ....., Bl 1
Do. £lOO .Bonds
Government Railway Debentures 9B;
reek 5 per emit., 1824 5, ex Coups —
Do. Coupons
Gattemala"s per Cent .. —
Honduras dov Rail. Loon., 10 p.,Ct., all pd
Do. Ace /tint
Malian 5 per Cent., 1865 —
Do. Account ...
Do Maremmana Railway —
Aexicar. 3 per Cent —
Ditto for Account

_
Do. 1864 —
Do 6 per Cont. Anglo-French —
Aontevideau 6 per Cent. .. —
Mc crish Imperial 5 r.er Cent
New Granada lB
Do 3 per Con. —
Do. Deferred
Do Land Warrants (Fleet:trot.)
Peruvian 5 per Cont. 1865
Do Account . .. 811- 2} }
Do 4f per Cent. (Ili:harren)
90 41 per Cent.. 1862
Do Account 9s}
Do 6 per Cent.,1862
Portuguese 3 per Ct., 1853, '6, 7, '9,' i0,'2.'1, 331 4}
Do. do. 1867..... —
Do. do. Scrip, £2O paid —
Russian 5 ear Cent., 1822, £ St
Do 44 per Cent 1850 -
Do 4f per Cent., 1860
Do 3 per Cent., 1859
Do 5 per Cent., 1862 ... 851 6}
Do do, Scrip —
Do. Anglo-Dutch, 1864, £lOO Bonds.
Do. do. £B4 15s. d 0...
7)0., 1866, £lOO Bonds 9ll.
Do. do £B4 15s do —
Do Nicolas Railway —
Sardinian 5 pbr Cent —
Spanish 3 per Gen . ..

Do. Acc,Junt ...
Do. 1867
Do. Account
Do. New Deferral
Do. Passive
Do. Corn. Cert. of Cour. not fundod
Do. Account
Dividends on the above payable in Londo!.
Austrian o per Cent. Ex 10 Florins
Belgian, 44 per cent., Ex. 25f.
Dutch 24 per Cent. Ex. 12 Guil „
Do. 4 per Cont. Certificates ....
French Rentes, 3 per Cent.. Ex. 95f.
!Wiwi 5 per ent. 1851, Ex. 25f
Do Account SC4
CLOSING PRICES.
Oonso!s, Money
Do. Account, Jan.
... 92i

PARIS CORRESPONDENCE.

TIIIJRSDAT.

A Cabinet Council was held yesterday at the Tuileries,
at which all the new Ministers were present. It lasted a
considerable time, the members having no doubt enough
to talk about. It is arranged that when the Ministers
hold a meeting in the absence of the Emperor,
they shall assemble at the house of Admiral
Rigault de Genouilly. The privilege belonged
by right to M. 011ivier, but he proposed to waive
it in favour of the senior Minister, who happens to be the
venerable admiral. The new Minister of Justice is evi-
dently anxious to conciliate hii colleagues by an absence
of assumption. If report speaks truly, the Emperor
has shown him extraordinary consideration, telling
him, in respect to the appeal of some uneasy pre-
fects for Imperial support, that he recognised no one but
himself, adding, in jest, that he would accept Garibaldi as
Minister of the Interior if he were presented by M.
011ivier.

Changes in the diplomatic world are likely to follow
the accession of a new Ministry. M. de Lavalette is,
I hear, to be requested to resign his post. A similar fate
is in store for M. Benedetti and sonic other diplomatists,
who are inclined to the policy of M. Itouher.
I told you that some doubts were thrown on the dis-
interestedness of M. Magne in the recent Ministerial
negotiations. Some even affirmed that on the afternoon of
the redoubtable Saturday, January Ist, the ex-Minister of
Finance himself presented a list to the Emperor, but that
Napoleon, disapproving of the manoeuvre, sent it
to M. 011ivier, relating the incident. The Patrie
emphatically denies this story ; no such list was
drawn up or given, and no such revelation was made. It
appears to be more authentic, however, that M. Magne,
indignant at the various manoeuvres which had been
imputed to him, wrote an explanatory letter to the
Emperor, recalling his actions during the crisis, to which
the Emperor himself replied.
The Moniteur Universel announces an important fact
respecting the relations of parties. A meeting of the
Centre Left decided that that body in the Chambershould
not be dissolved, but that it should preserve its
individuality and not become Ministerial. This
resolution is understood to have been taken
in the absence of any public explanation by
M.M. Buffet and Darn of the terms on which they
accepted office. So far from withdrawing its former asser-
tion, the I'euple Francais of yesterday renews it. " All
idea of a dissolution was laid aside before the for-
mation of the Cabinet." The Francais of this evening
however declares that the Ministers of the Left Centre
have consented to an alliance, not signed a capitulation,
and that they have by no means abandoned their pro-
gramme. The Peuple Francais, in the article I have
referred to, contains an extraordinary passage, saying that
even should the new Ministry forfeit the support of the
majority, the dissolution of the Chamber will be by no
means indispensable. Henceforward the Emperor, it is
true, must govern by means of the parliamentary majority;
such is the letter and the spirit of the Senatus-Consultttm.
But if the Ministers in office are not the leaders of the
majority, he must govern by those who are its leaders.
Such is constitutional truth. The Temps has a vigorous
article in reply to this, and asks whether we have here the
explanation of all the constitutional reforms ?
In Wednesday's sitting of the Senate, M. de Maupas
gave notice, in his own name and that of some of his
friends, that he intended to question the Government on
the home policy they intended to pursue. It has been
settled between the interrogators and M. de Parieu, who
represents the Cabinet, that the day for holding the dis-
cussion shall be determined next Friday. The Senate thus
finds itself in view of three questions—that of M. Rouland,
relating to the (Ecumenical Council, that of M. de Buten-
.val on the treaties of commerce, and that of M. de Maupas
on the home policy. Such signs of activity augur well for
the dispatch of business, and must tend to promote the
interests of the public and develop free discussion of im
portant questions.

The Libertd quotes an extract from the Public referring
to the recent prosecution of the .Rappel, and giving the
blame of the affair to M. 011ivier, furnishes the dates
of the proceedings. The new Ministers were named on
Sunday evening, the 2nd of January. They took oaths on
Monday, the 3rd, and did not enter into possession of their
bureaux until Tuesday the 4th of January. They were
consequently entirely irresponsible for what took place on
Monday the 3rd inst., the day when the editors and
manager of the Ruppel received the summons to appear
before the court.

Since Troppmann has been removed to the prison
of La Roquette, ho has resumed the cheerful
demeanour which distinguished hlm at the Con-
eiergerie before the trial took place. He has been
visited by M. Claude, head of the police service, and he
declared to him that he had the greatest confidence in the
result
of his appeal to the Court of Cassation. He confided
to Id. Claude a letter for the Procurcur-Gen6ral, which is
said to contain some disclosures. The Gazette des Tribunaztx
states that Troppmann is seen by no one from without the
prison except the official functionaries and the keeper of
the prison.

A meeting will shortly be held at Bordeaux for the pur-
pose of considering the sufferings of the mercantile marine.
The Senate has just asserted itself by an act of inde-
pendence. It was proposed that the President of the
Senate should have the right of presiding at all the com-
mittees of the Upper Assembly. These committees were
composed of five, and the President would thus be enabled
to exercise a preponderating influence, and overrule the
decision of the majority. M. Boinvillier spoke on the
subject, and complained of the exorbitant powers thus
conferred on the President. The Act which related to
this arrangement was thrown out. M. Rouhor, who is
affected by this decision, will, it is said, resign in con-
seauence.