The Sun.
London, England, 1870-02-02 00:00:00

ItiONE MARKET

AND
COMMERCIAL INTELLIGENCE.

f)ITY, Two o'CLocx.
The business on 'Change to-day was languid, and
for Consols the price was a shade loower than yes-
terday. In the foreign market, however, there
seems to be, if anything, an improvement in the
value of the leading Continental securitics, and
Lombardo-Venetian could not be had at the c'esing
price of yesterday. For English railways there was
a slight improvement in the demand caused, doubt-
less by the announcement of the Midland dividend,
but, as a rule, the increase in value, where it oc-
curred, was merely a shade. In telegraph shares
the business to-day was very quiet, and the tendency
of prices was downward. For bank shares the in-
quiry was very limited, and the price of miscellane-
ous stocks remained the same as yesterday.
Consols are now at 921 to 921 for money ;
ditto, for Account, ; Three per Cent. Re-
duced, 921 1 ; New Tkree per Cents, 92 ;
Exchequer Bills £l,OOO, March, par to 5 prim. ;
June, prem ; ditto £lOO, £2OO, and £5OO, March,
par ; June, ; Bank of England Stock,
41 per Cent, 238.
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, 1114 ; ditto 4 per
Cent., Oct., 1888, 1001 ; ditto Enfaced Paper,
5 per Cent.,
In the Foreign Market Turkish Fives are now
431 to 434; Spanish, 271 to 27i ; Italian, 541 to
544 ; Peruvian, 79+ ; Brazilian Bonds, 881
Lgyptian 1868 Loan, 764 ; the Viceroy's Seven
Cents., 801 to 81 ; the Nine per Cents., 97 t0;.98.
The new Russian loan is now quoted 21 to 21
prem. ; and the Chilian loan, 1 to 1 prem.
In the Railway Market South Eastern have
advanced 1, Great Northern A 1, and Caledonian,
Great Western, Brighton, London and North
Western, and Midland 1 each. Berwick and Great
Northern are 10s. lower. The following are the
present prices :—Caledonian, 77 to 771 ; Great
Eastern, 371 to 371 ; Great Northern, 111 to 112 ;
ditto A, 1111 to 112; Great Western, 63 to 631 ;
London and Brighton, 44/- to 451 ; London and
North Western, 1231 to 124 ; Metropolitan, 781 to
78.1. ; Midland, 123 to 1231 ; Berwick, 127 to
1271 ; and South Eastern, 761 to 77.
American Five-Twenty Bonds are 86.1 to 87 ;
ditto (1865), 861 to 86+; ditto (1867), 854 to 86 ;
the Ten- Forty Bonds, 844 to 84.1. ; Eries are 201
to 211 ; and Illinois, 103 to 104 ex div.

-- .
Great Luxemburg shares are 131 to 13:1, and Lom-
bardo-Venetian Railway shares have recovered to
20k to 204. _ _ _

In Telegraph Shares Construction and Main-
tenance are 391 to 39.} ; Indian Robber are 56 to
57 ; British Indian Submarine at 141 to 14/ ;
China Submarine, at dis. to prem. ; Falmouth,
3i:to 3/ prem ; Anglo-American 191- to 191 ; and
French Cable, 17i to 17/. _

In Bank Shares Union of London is marked
36 to 37 ; Consolidated, 4 to 4i ; Agra (A.), 114
to 121 ; Alliance, 12 to 13 ; Anglo-Austrian,, 14
to 16 prem. ; Chartered Mercantile, 32 to 33 ;
Imperial Ottoman, to 2.1 prem. ; London and
County, 49k- to 504 ; London and Westminster,
58 to 59 ex div. ; and London Joint Stock, 31 to
32 ex div.
At Mark Lane this morning trade was very dull,
and a reduction on last Monday's prices has to be
submitted to effect sales. The amount of samples
on oiler was not extensive, the impression being
that a favourable turn in the weather may send up
Prices. The millers are very moderate in their pur-
chases, andj for flour a trifling reduction has to be
submitted to to effect sales.
It is understood that a vast number of applica-
tions from the country for the Russian Loanhave
been received, the writers of which are unknown to
I'd on men of business, and whose desire for
participation may be inferred to have been based
solely on the quotation of 2 premium which has
been current ever sines the issue of the prospectus.
These letters, with the checks enclosed, have
therefore been promptly returned. It is reported
that the pro rota system will not be pursued.
That System was first introduced in Paris, and
anything more irrational or demoralising could
scarcely be devised. It tempts capitalists who can
znanage to obtain sufficient temporary command of
the discount market to apply for millions in order
that they may have the certainty of getting a few
thousands, while at the same time it brings into
,the vortex of speculation masses of people of no
nesiness repute or standing, who endeavour to
Scrape together a few pounds for the deposit money,
and who rely upon the fact that their applications
Will receive the same treatment as those of habitual
investors or persons of known means.
There were no gold operations at the Bank yes•
terday.
The Mexican dollars by the West India steamer
have been sold at 591 d. per ounce, showing no alte-
ration.
The Manchester markets this week have opened
Without alteration.
The letters from Germany state that several pro-
jects for new banks are likely soon to be introduced
at Hamburg and Berlin.
A. prospectus has been issued of the Cuba Sub-
marine Telegraph Company, with a capital of
£160,000, in shares of £lO, to lay a cable of 540
miles from the eastern to the western points of the
island, the former to communicate with the Ameri-
can line from Havannah to Florida, and the latter
With the West India and Panama line from
oantiago de Cuba to Jamaica, thus obviating the
necessity for using the internal land lines for foreign
messages.
The directors of the Birmingham Joint-Stock
Junk (Limited) recommend a dividend at the rate
of 20 per cent. per annum.
Rueter's Telegram Company have received from
the Government the £726,000 for the Nordeney
cable, and have paid it into their bankers, the Lon-
don and Westminster Bank.
The directors of the Midland Railway Company
have decided to recommend to the proprietors a
dividend on the ordinary stock for the past half-
Year at the rate of 6i per cent. per annum.
The Metropolitan Railway traffic return shows
this week an increase of £322 over last year ; the
Metropolitan District an increase of £9B ; the
Metropolitan and St. John's Wood an increase of
£3B ; the Glasgow and South-Western an increase
of £1,127 ; and the Great Luxembourg an increase
of £1,248.
A new insurance association, entitled the China
and Japan Marine Insurance Company, has been
formed at Shanghae, with a capital of 1,500,000
taels, divided into 3,000 shares of 500 taels each,
of which it is proposed to call up 300,000 taels, or
100 taels per share. The directors consist of part-
ners in highly respectable mercantile firms, and there
are agents in Hong Kong, Foochow, Yokohama,
Hankow, and Singapore.
The annual drawing of the certificates of the
Foreign and Colonial Government Trust is to take
place on the 14th inst.
A general meeting of - the London and Lisbon
Corkwood Company (Limited) will be held on the
10th inst.

Id RITIIii FUNDS-..—.TWO O'OLOOK.

Coot.
TUNDS.
i
d per Ct. Consols
Ditto for Account
POL. Cli.at. I:educed 921
Nets 3 per Cent
New 2i per Cont. Jan. 1894
Do. 5 Der Con i au.1873
&anuitics, 30 yrs, expire sth Jan., 1880.
110. for 30 yrs, expire sth April 1880 —
L/0 (Red Sea Telebraph), Aug., 1908 —
txchoquzr Bills, £1,009, 21 p. Ut. March I
D. 21 do. June
D° £lOO, .£2OO do .0500 — c
Rank of England Stock, 41 per Cent
Do. opening
vanada 4 per Cent. Bonds
1:::::toolco:,ial °uman
, iNDIA.N GDVERNMENT SECURITIES
101 per Cent., April 1874...
DC. Opening, for Account —
,I)°• n per Cent. July, 1880
1-'0 4 per Cent. Oct. 1888
Do, Enfaced Pape,. 4 per C0nt..... —
Po. 5 per Cott., Jan. 1872 .... ....
O. or Cent. May 1879
'JO sper Cent Ru Doi 1872 ~ p. s. —
Do do 18's7
DO. do. 1882 tie --