The Sun.
London, England, 1870-04-06 00:00:00

THE HONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocx.

The business to-day on the Stock Exchange,
although not of an extensive description, was, with
respect to prices, an improvement on that of yester-
day. Consols improved and have a firm ap-
pearance. - In the Foreign market Turkish advanced,
but Spanish and Italian receded. For American
Securities the market was firm, with the exception
of a trifling decline in Virginia Bonds. In railways
the changes were unimportant, and for banking and
miscellaneous shares we have no alteration to make
from yesterday's prices. For discount best class bills
can now be done at 2*.

Consols are now at 932 118 for money ; ditto,
account, 932 ; Three per Cent. Reduced, Hi 2 ;
New Three per Cents., 918 2 ; Bank of England
Stock, 41 per cent., 235 ex div.

India Stock, 10i per cent., April, 1874, —;
ditto 5 per cent., July, 1880, —; ditto 4 per
cent., Oct., 1888, 1001 ditto Enfaced Paper
5i per cent., —; Corporation of London, 41 per
cent., 1882, 1021.

In the Foreign Market Turkish Fives are 47 to 474 ;
the Sixes (1867), 70 'to 70f ; Spanish, 28f to 281 ;
Charkof, 824 to 83+ ; Moscow, 84f to 85 ; r icolas,
69 to 69f ; Orel, 87 to 87f ; Portuguese 324 to 331 ;
Peruvian, 84 to 84f ; Egyptian (1864), 90 to 91 ;
ditto (1868), 804 to 81 ; Viceroy's Seven per Cents.,
844 to 854 ; ditto Nine per Cents, 100 k to 101; and
Brazilian, 88 to 88f.

In the Railway Market Great Northern (A) shares
are quoted 122 to 122 k ; Midland, 125 to 125 f ;
Metropolitan, 771 to 77/ ; Great Eastern, 381- to 381;
London and North Western, 124; to 124/ ; Great
Western, 69 to 69i ; South Western, 88 to 89 ;
London and Brighton, 44/ to 45 ; South Eastern,
754 to 76e ; and North British, 34/ to 341.

American Five-Twenty Bonds are 91 to 911 ;
Ten-Forty Bonds, 864 to 871 ; and Erie Shares are
21 to 211.

Anglo-American Telegraph Shares are 17f to 17i;
French Cable, 15f to 151 ; British Indian Submarine,
91 to 91 ex div. ; China Submarine, 1f to 11 dis. ;
Falmouth, 91 to 91 ; and Anglo-Mediterranean,
17j to 171; Construction and Maintenance, 371
to 38.

Lombardo-Venetian is 184 to 19 ; and Great
Luxemburg 13} to 13k.
In Miscellaneous Shares the only alteration from
yesterday is in Hudson's Bay Shares, which are now
quoted 12i to 121, an improvement of
The Manchester markets this week have opened
with a further improvement of tone.
The distress among the small traders in the
various manufacturing districts, of which the failures

of the past few months have afforded constant indi-
cations, seems still to be strongly felt. It is stated
that in the number of bills which matured on Monday
(the 4th of the month) the instances of default were
more than usually numerous.

Messrs, J. H. Schroder and Co. have invited sub-
scriptions for £450,000 8 per cent. gold bonds of the
State of Alabama at 94i (or 93i reckoning allow-
ances), payable in instalments . extending to the
15th of June. The list is to close on Saturday for
London and on Monday for the country. The
existing direct debt of Alabama is only about
£875,000, and as she meets her obligations with
punctuality, and contrived to surmount honour-
ably all the financial
.difficulties occasioned by the
war, her securities are regarded on this side with-
out disfavour. The present issue represents the sub-
scription of the State to the Alabama and Chatta-
nooga Railway, which is to form a link in the
long line of communication between New York and
New Orleans.

It is understood that a deputation representing
the leading interests in the colonial trade is about to
be formed to wait upon Lord llartington in rela-
tion to the recent injurious measure of the Post
Office with regard to the transmission of printed
matter.

The report of the Grand Trunk of Canada Rail-
way, to be presented on the 14th inst., shows a
balance sufficient to enable the payment of the
interest (£67,737) on the Ist Preference Bondi,
and to leave £1,618 to be carried forward.

La Pampa, the second of an Italian line of large
passenger steamers to perform a monthly service
between Genoa and Buenos Ayres, was launched
yesterday from the yard of Messrs. Dudgeon, at
Cubitt Town, on the Thames.

According to the.last advices from San Francisco
the trade between California and Japan was daily
assuming more important proportions. The bark
Benefactress bad just arrived from Yokohama in
26 days, one of the quickest passages ever made,
and brought 11,000 packages of Japanese tea,
which were at once forwarded to New York by the
Pacific Railroad.

It appears that the exports of wheat from the
United Statts during the past year amounted to
4,290,000 qrs., valued at about £8,500,000, against
1,616,000 qrs. in 1868, valued at about £3,900,000.
The exports of cotton were 722,618,9291 b., valued
at about £37,000,000, against 786,600,7761 b. in
1868, valued at about £32,500,000, the decrease in
quantity during the year having been much more
than met by the increase in price.
•At the meeting of the British Empire Mutual
Life Assurance the new policies of the year were
stated at 601, assuring £192,211, and yielding in
new premiums £6,072. The total income was
£102,238, and the accumulated fund is £448,659.

BRITISH FUNDS-CLOSING PRICES.

GOVERNMENT FUNDS.
8 per Cent. Consols
Ditto for Account 931
8 per. Cent. Reduced
it3w 3 per Cent ..... .... 91i 2
New 21 per Cent. Jan. 1894
Do. 5 per Oen Jan. 1873
Alnuities, 80 yrs, expire sth Jan., 1880 —
Do. for 30 yrs, expire sth April 188i' —
Do (Red Sea Telegraph). Aug., 1900,
tzchogn:,r Pills .£1 000, 21 Ct
, 7 P
: • . pm

2 do.

June...

Do £lOO, XaTO & .C5OO —
Bank of England Stock, 4i per Cent
De. opening —
C tnada 4 per Cent. Bonds —
Inter-Colonial Omnium —

INDIAN GOVERNMENT SECURITIES.
Italia Stock 104 per Cent., April 1874
De. opening, for Account —
Do. o pur Cent. July, 11 80
Do. 1 per Cent. Oct. 1888
D ). Enfaced Pape' 4 per Cant —
D ), 5 per Cert., Jan. 1872 ...... ......
D ). 54 per Cent. May 1879 solo ” -
Do. 5 per Cent., Rup. Dal:. 1872 —
Da do 18'"".... — •
Do. do. 1882 —
0.. Deb., 5 per Cent., Aug. 1873 .....
Uo. Bonds, 4 per Cont., £l,OOO
Do. under £l.OOO — pm
FOREIGN FUNDS—CLOSING PRICES. i
Argentine Republic, 6 per Cent
ue Account .
Austrian Bonds 5 per cent
Do. 1859 .... Brazilian 5 per Cent
D°. 44 per Cent. 1852
D°. do 1888.-
1)0.
uo
1860
Do. do., 1863 —
13°. 5 per Cent , 1865
De. Account .
id .enos Ayres 6 per Cent. .. ...
Do 2 per Cent. (Deferred 3 per Cent —
011.)% 6 per Cent.
0 I Han 6 per Cent .....
Do. 4i per Cent...,.... ....... ...
Da. 3 per Cent~
Do. 7 per Cent.,. 1866
Do. 6 per cent. 1867
0 locul.nan, 6 per Cent.
Da list), 3 per Cent., 1825 ••
Da lu bian Principalities, 7 I.er Cent —
Do Account
Do 8 per Cent., 1867
Ecuador New C;onsolidSed, 1 per Cent „ —