The Sun.
London, England, 1870-03-16 00:00:00

MONETARY REPORTS -YESTERDAY.

The progress of the fortnightly settlements hag chickea
business. The scarcity of stock in the Railway Market
has promoted a further advancement, 'and foreign bond
generally have been firm. Telegraph shares, however,
have been depressed. Consols have been steady, at
and 921 for money, and 924 to 93 for April. Reduced
and New Three per Cents., 911 to 94 Exchequer Bills
par to 4s. prem. Bank Stock, 20 to 242. India Five per
Cents. have been done at mi to 1121, and India Bonds at
20s. to 255. prem.

The market for English railway stocks has been steady,
and the " bears " having in some instances oversold, a
further improvement has taken place. Caledonian has
been firm, and better, and Great Western shews an en-
hancement of London and Brighton has participated
in the improvement, being higher. London and North-
Western and Midland have risen North-Eastern Ber-
wick has advanced 1.

There has been very little inquiry for Indian Railway
Stocks, at about previous quotations. Canadian Shares
have been unaltered in value, with a moderate business
doing. Foreign shares have maintained late prices, but
the demand for them has not been active.

There have been no bullion operations at the Bank to-'
day.
In the market for foreign bonds not much animation
has been noticed. The tone, however, has been good, and
the movements, though not important, have been favour-
able. Egyptian (1868) have risen 4i Spanish I, Russian
(1822) ditto Nocolas Railway I, New Granada t and
Venezuela 1.

For American securities there has been a healthy
inquiry. The Five-Twenty (1882 and 1885) Bonds have
risen g, and the 1887 and Ten-Forty per cent. Erie and
Illinois Central shares shew an advance of 1 and
respectively.
British Mines have been flat, and foreign have been
dealt in quietly.
For Bank Shares there has been only a moderate de-
mand, at about yesterday's closing quotations.
As regards Telegraph Shares, Anglo-American have
been steady, and better, but Anglo-Mediterranean
have receded British Indian Submarine g, Falmouth.
Gilbraltar, and Malta, g ; and French Cables,
Hooper's Telegraph Works have been flat at dis. to
par. Silver's Indiarubber shares have fallen li, and
Telegraph Construction, g.
Miscellaneous securities have been quiet, and prices
have been without important movement.
Stimulated by the settlement the money market has
been firmer to-day. The demand for accommodation,
both at the Bank and in other quarters, has been more
extensive. Nevertheless, three months' paper has been
negotiated at 3 per cent.
The Douro has arrived at Lisbo from the West Indies
with £22,793.

Bills on Italy have been in request, and the rates have
been lower, otherwise no material alteration has been
noticed.

A vessel has arrived at Liverpool from New Orleans
with £16,000.

The dividend on the Caledonian Railway will be at th•
rate of 32 per cent. per annum.
The report of the Merchant Banking Company (Limited),
to be presented on the 17th instant, recommends a divi-
dend at the rate of s_per cent. per aanum, the payment
of which will absorb £9,319. The sum of £20,000 has
been written off the " amalgamation account," and £2,049
remains to be carried forward.

At a meeting of the Credit Foncier of England the fol-
lowing resolution, proposed by Mr. Mowatt, and seconded
by General Balfour, was adopted :—" That the present
capital of the company, consisting of two million pounds,
divided into two hundred thousand shares of ten pounds
each, be reduced to one million pounds divided into two
hundred thousand shares of five pounds each, and that the
conditions contained in the company's memorandum of
association be modified accordingly.

At a meeting of the Land, Credit, and Agency Com-
pany it was shewn that there was an available balance of
£4,010. An interim dividend of ls. 6d. per share, equal
to 3 per cent. for the half-year was declared, which will
absorb £1,875, and leave, after setting aside £soo'for re-
serve, £1,635 to be carried forward.
The traffic returns of the South-Eastern Railway for
the week ending March 14 present a total of £21,707,
being a decrease of £435, when compared with the cor-
responding week of 1869.
The traffic receipts of the Smyrna and Cassaba Railway
Company, for the week ending February 27th., have
amounted to £1,279, against_22,lol for the corresponding
period of last year.