The Sun.
London, England, 1870-02-12 00:00:00

}IONEY MARKBT

A l'irD

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLOCk.

The business transactions to-day on 'Change
were trifling as usually is the case on Saturd ty,
but the prices of the Government Securities were
maintained, not so those of the continental States,
most of the stocks have to be quoted in conse-
quence of the unsettled state of matters in France.
In railways the prices are not so firm as yesterday,
and a slight decline has taken place in some of the
stocks. Americans are the turn lower, and tele-
graph shares a fall has to be reported in Indian
Submarine and French Cable. The rate of discount
in the open market is now about 24.
Consols are now at 921 to 92/ for money;
ditto, for Account, ; Three per Cent. Re-
duced, 93 21 ; New Tkree per Cents, 93 21 ;
Exchequer Bills £l,OOO, March, par to 5 ; June,
par ; ditto £lOO, £2OO, and £5OO, March,
; June, prem. ; Bank of England Stock,
4i per Cent., 242.
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, ; ditto 4 per
Cent., Oct., 1888, 1001 1; ditto Enfaced Paper,
per Cent., 1872, —.
In Foreign Securities Turkish Fives are 431 to
431, the Sixes 661 to 67, and the New Scrip 1 to 1
Prem. Spanish Bonds are 271 to 271. In Rus-
sian stocks Oriel is 851, Moscow 831, and Charkof
85/, a fall in each. Portuguese are 321 to 33.
Egyptian 1864 Bonds are 901 to 911 ; the 1868,
771 to 774; Viceroy's Seven per Cents., 81 to
814 ; the Nine per Cents., 98 to 981 ; and Italian,
54/ to 54g.
Few Russian Scrip is 31 to 31 prem., and
Chilian 1 to 14 prem.
Lombardo-Venetiata is 201 to 201 ; and Great
Luxemburg is 131 to 14.
In the Railway Market Great Western are marked
634 to 631 ; Metropolitan, 794 to 791 ; Lanca-
shire and Yorkshire, 1284 to 1221; Midland, 1244
to 124/ ; South Eastern, 78 to 781 ; Caledonian, 78
to 781 ; Great Eastern, 381 to 381 ; Great
Northern, 117 to 118 ; ditto (A), 1184 to 1191 ;
London and Brighton, 431 to 44 ex div. ; London,
Chatham, and Dever, 141 to 151 ; London and
North Western, 124/ to 1251 ; London and South
Western, 93 to 94 ; and North Eastern, 1281
to 129.

American Five Twenty Bonds are 871 to 871;
Ten-Fortys, 821 to 82! ; Erie, 201 to 21; and
Illinois, 1104 to 114.
British Indian Submarine and French Cable,
Telegraph Shares arelower, the first is quoted 14,
to 15, and the other 171 to 174 ; Construction and
Maintenance are 42 to 421 ; Falmouth, 31 to 31
prem.; Anglo-American, 17:1 to 18 ex div.; China
Submarine, par to prem. ; and India Rubber, 624

to 63k.
There were no bullion operations at the Bank
yesterday.
The proposal of the Chancellor of the Exchequer
to pay the dividends quarterly has not encountered
any opposition in the City. The conversion of the
smaller English securities into Consols will not be
objected to, because it has for a long time been felt
that the Stock Exchange list has been encumbered
With two or three descriptions of stock which are
scarcely ever negotiated. If the process is to be
carried out it may as:well include Reduced and New
Three per Cents.
It is understood that the Bank of England,
anxious to assist Messrs. Barnetts and Co. in the
recovery of their stolen notes, have printed a new
series of notes of £l,OOO each. The fresh issue is
dated 1870, whereas the date of the notes for
£l,OOO up to this time in circulation has been 1868.
It is believed that the average existence of a note
for £l,OOO is not longer than about a week, and it
is probable that within a few days the whole circu-
lation bearing date 1868 will have been returned to
the Bank, and the stolen notes will be the only ones
out bearing that date.
The traffic
of the Grand Trunk Railway of
Canada shows an increase of £3,490.
At the approaching meeting of the South-Eastern
Railway Company the directors will recommend a
Air the hair yoar at the rate or 4 per cent.
per annum. The dividend for the corresponding
period of the previous year was at the same rate.
The proposed dividend on Metropolitan Railway
stock was officially announced at the rate of 4 per
cent, per annum, against 41, for the corresponding
period of 1868.
With reference to the China Submarine Telegraph
Company (Limited), it is announced that the trans-
fer books will be closed from the 14th until the 17th
inst., for the issue of the further capital of £300,000,
authorised by the general meeting, hold on the 7th
ult., for the construction of the Hong Kong and
Shanghai section of the line.
At the meeting of the New Zealand Loan and
Mercantile Agency Company (Limited) a dividend
of 10 per cent. was declared for the past year,
£5lOOO added to the reserve fund, thus raising it
to £15,000, and a balance of £1,515 was carried
forward.
At the meeting of the Millwall Freehold Land
4141 Docks Company, the directors' report, which
Stated that the business of the undertaking is
steadily increasing, was adopted.
The Ceylon Company (Limited) invite applica-
tions for £150,000 of five per cent. debentures,
being the issue for this year. They will be granted
in sums of £lOO, and be made payable to bearer or
order. The uncalled capital of the undertaking
actually subscribed amounts to £421,580, to which
sum the debentures to be issued are restricted.
Tenders not below £92 for every £lOO will be re-
ceived up to the 22d inst.
A general court of the London Assurance Cor-
poration will be held on the 16th of March " to con-
sider of a dividend on the consolidated capital stock
for the half-year ending at Lady-day next."
The ordinary general meeting of the Danube
and Black Sea Railway and Kustendjie Harbour
Company (Limited) is called for the 26th inst.
The annual meeting of the Liverpool and Lon-
don and Globe Insurance Company is conveyed
for the 25th inst.
Advices from Hungary mention that the present
Minister of Finance, M. de Lonyay, has, in com-
pliance with the personal wishes of the Emperor of
Austria,
accepted the portfolio of Minister of Fi-
uance for the entire Austrian Empire, but that his
public nomination in that capacity will be somewhat
delayed owing to certain formalities. It is likewise
stated in financial circles that complaints are being
made to the effect, that through the unfortunate
error on the part of the Austrian Government with
reference to the recent Acts concerning the conver-
sion of Austrian Bonds, it is impossible to intro-
duceE any Hungarian project o
even with an Austrian or Hunga
rian ngGiosv- market,ernmen;
guarantee.
In relation to the Atlantic and Great Western
Railway, telegraphic advices have been received
that the pending suits in the State of Ohio have
been decided in favour of the company, and that in
New York a strong party, under the lead of Gen.
M'Clellan and Messrs. Barlow and Macfarland, has
been formed to co-operate with the directors in the
interests of all the creditors.
In the Colonial Produce Markets this week
there has been no material change, and at the
close the tone was rather dull. Prices remain
steady, the only exception being sugar, which is
still very dull. Grainy and crystallised sorts have
further declined, and other qualities are also rather
lower.

BRITISII FUNDS—CLOSING PRICES.
. UOVIIRN MEXT YUND3.
0 Per Cent. Consols
Ditto for Account
8 per Cent. Reduc©d 93 2i
New 3 per Cont
zierr 21, per Cent. Jan. 1894
Do. 6 per Can Jan .187 3
turmities, SO yrs, expire sth Jan., 1880.
Do. for 3u yrs, axpiro sth April 1885 —
ii
14' 00 (Red Sea Telejsraph) ,
2/ p. C, Aug., 1908
March
Do. 2.1 do. June par
...Do
4100, £2OO & .C5OO — pm
'
can
hkll. of Enslaud Stock, 4} per Cent
°Muni