The Sun.
London, England, 1870-01-18 00:00:00

ffigNEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.
The business on 'Change to-day was decidedly
more active than yesterday, and Consols well main-
tain their closing prices. In Foreign Securities
there has been an improvement in most of the
stocks, and prices consequently rule higher. Ame-
rican Stocks share in the improvement, the Five-
Twenties being an i better, as also are Erie shares.
Telegraph shares are slightly in demand, but in
Banking and Miscellaneous shares prices remain
almost stationary. The demand for discount is but
moderate, but to-morrow and Thursday a large
number of Australian bil!s become due, and the in-
quiry is expected to be very active. Oa the Stock
Exchange loans from day to day are 2 to 3 per
cent.

Consols are now at 924 to 92i for money ;
ditto, for Account, ; Three per Cent. Re-
duced, 924; New TLree per Cents, 924 ; do. An-
nuities, 114 ; Exchequer Bills £l,OOO, March, par ;
June, 5 prem. ; ditto £lOO, £2OO, and £5OO, March,
June, ; Bank of England Stock,
41 per Cent., 238.
India Stock, 104 per Cent., April, 1874, 209 ;
ditto 5 per Cent., July, 1880, 111 i 12 ; ditto 4 per
Cent., Oct., 1888, 1004 ; ditto Enfaced Paper,
4 per Cent., 92 ; ditto Bonds £l,OOO, 25 21 prem. ;
ditto Bonds under £l,OOO, 20 prem.
In the Foreign Market stocks show an improve-
ment. Peruvian Five per Cents. have risen f,
and aie now 794 to 80 ; Egyptian 1868 Bonds are
774 to 771, an improvement of 1 ; Italian are 55
to 551; Mexican, 151 to 144 ; Argentine, 87i to
881 ; Spanish Bonds, 271 to 274 ; Turkish Five
per Cents., 434 to 44 ; Russian (1866) Loan, 91
to 92.

In the Railway Share Market Great Northern
Stooks have fallen +to per cent., Brighton and
Midland 1. On the other hand Metropolitan are
better, at 79 to 79i, being a recovery of 1 ; and the
North Eastern Stocks have improved i per cent.
The following are the quotations :—Caledonian,
76 to 764 ; Great Eastern, 37i to 374 ; Great
Northern, 110 to 111; ditto (A), 111 to 112 ; Great
Western, 61 to 611 ; Lancashire and Yorkshire, 128
to 1281 London and Brighton, 444 to 45 ; London
and South Western, 93 to 94 ; Midland, 123 to
1231; North Eastern (Berwick) and South Eastern,
771- to 77g.
American Five-Twenty Bonds are i better, at
861 to 874 ; Erie Shares are also higher, at 171
to 171; and Illinois 4, at 102 to 103 ex div. ; At-
lantic Bonds are 26 to 27 ; and Debentures, 28
to 29.

Telegragh Construction and Maintenance are
35i to 354 ex dsv. ; Panama, 4to prem. ; French
Cable, 184 to 184 ; Atlantic Telegraph, 2f to 3 ;
and Anglo-American, 19/ to 20.
In Bank hnd Miscellaneous Shares prices are
Without change.
Lombardo-Venetian is quoted at 204 to 204 ; and
Great Luxemburg, 134 to 14.
The sum of £B,OOO in gold was taken to the
Bank yesterday. _ _

The Oneida his arrived at Lisbon from Brazil
'with £29,628 in specie.
Some dissatisfaction has been expressed by par- •
ties who lately accepted debenture stock in lieu of
cash for their Great Indian Peninsula debentures
due on the Ist of January last, in consequence of
the company offering to their shareholders the same
stock at about 1 per cent. reduction in price.
Judge Hitchcock has been appointed Receiver of
the Atlantic and Great Western Railway through-
out its entire length, and the Erie Company are to
Pay to him the rental under the lease, consisting of
30 per cent. of the gross proceeds. All litigation
between the two companies has therefore ceased.
The Panama and South Pacific Telegraph Com-
pany, which was introduced on Friday with the
view of placing New Granada, Equador, and Peru,
and ultimately Chili, the Argentine Republic, and
Brazil in telegraphic communication with Europe,
by the system of the West India and Panama Com-
pany, is said to have been received with favour by
the leading Continental and London firms, and
transactions were consequently effected to-day at
to prem.
Berger Spence and Co.'s weekly report says :
"No alteration of consequence has transpired dur-
ing the past week. The demand in most of the
staple articles continues unabated and prices main-
tain their firmness. Producers consequently are
very sanguine of a gradual improvement in quota-
tions, and as the trade is now working for legiti-
?nate consumption there is every reason to believe
that prices will not recede, if producers will con-
tinue to be guided in their production by the con-
sumption. In minerals a fair amount of business
has been done. There has been little doing in
metals during the past week. In Scotch pig a
good businees has been done and prices are slightly
firmer. Cleveland maintains its value. At the
quarterly meeting lately held at Birmingham it
was determined to adhere to the advance in the
price of manufactured iron. In copper the market
is a shade quieter. Tin is very dull. Lead in fair
demand. Spelter inactive, but no alteration in

prices."
The South Eastern Railway traffic return shows
this week a decrease of £1,398, compared with the
corresponding period of last year, and the Brighton
a decrease of £866.
The Great Western of Canada Railway traffic
return for the week ending the 14th inst. shows a
decrease of £2,778 compared with the correspond-
ing period of last year.
The half-yearly meeting of the London, Brigh-
ton, and South Coast Railway company, convened
for the 2d February, is to be made special, to ap-
prove an agreement with the East London Railway
Company for the working of that undertaking, and
an arrangement between the Brighton and South
Eastern Companies "as to the division of compe-
titive traffic between the two companies." It will
also be proposed to approve two bills now pending
in Parliament, one of which authorises the Brigh-
ton Company to abandon the Surrey and Sussex
Junction Railway and the Worthing Junction, and
to make a short railway for improving the com-
munication with Eastbourne.
The report of the United Discount Corporation
(Limited) recommends a dividend for the half-year
of 3s. 7d. per share, or at the rate of 6 per cent.
per ann am.
At a special meeting of the directors of the Na-
tional Bank a dividend at the rate of 6 per cent.
per annum for the last half-year was declared.
Advicea from the city of Mexico to the 18th of
December describe certain steps that, according to
general report, had been taken by third parties
during the visit of Mr. Seward to that capital as
an attempt to pave the way for a resumption of
diplomatic relations between Mexico and England.
A telegram from Suez, dated the 15th of January,
states that 19 boxes of speeie have been recovered
from the wreck of the Carnatic, leaving only three

remaining.
The directors' report of the Manchester and
County Bank proposes to pay the usual dividend at
the rate of 8 per cent. per annum.
I iThe report of Parr's Banking Company (limited)
shows a net balance of £16,978 10s. 7d. for the past
half-year, and a dividend is recommended at the
rate of 8 per cent. per annum.
The report of the Midland Banking Company
(Limited) to be presented to the shareholders on
the 28th of January, proposes the usual dividend
of 6 per cent. per annum, free of income tax,
which will absorb £4,774 16a., and to carry for-
ward to profit and loss new account the balance,
£4,485165.
We have received the following from the Mexican
Bondholders' Committee :—The following extract
from the Mexican budget for the next ensuing finan-
cial year, submitted on the 14th of December last
to the Federal Congress, by Senor Romero, the
Minister of Finance :—" The Executive has endea-
voured to make, in the budget of disbursements,
all possible economies consistent with the preserva •
tion of public tranquillity, which is the fundamental
basis of the existence and prosperity of the nation.
After all, it has not been able to reduce the total
amount of the budget below the sum of 14 millions
of dollars, and thin without proyidiug for the dis-