The Sun.
London, England, 1870-05-18 00:00:00

YORK RACES-TUESDAY.

The Craven Stakes of 5 sovs each, with 50 added. One mile.
Mr F. A. Milbauk's Ralph Lanabton, by Lambton—
Codicil, 6 yrs, 7st (car 7st 11b) (Hudson) 1
!dr G Si.verside's Promptress, 3 yrs, Tat 21b (in 61b ex)
(Doretty) 2
Lord Warwick's Calabria c, 3 yrs, 75t.... (Platt) 3
Bluebell also ran Won in a canter by a length ; two
lengths between second and third.

The Zetlaud Stakes of 5 sovs each, with 100 added. T.Y.O.
(5 furlongs 44 yards )
Mr Johnston's Columbus, by Adventure'— Mira, Bst 101 b
(Osborne) 1
Mr Jos. Dawson's g by Kettledrum •- Imperatrice, Bst 41b
(Urirnshaw) 2
Mr E. W. Nunn's Athol Daisy, Bst 101 b ....... . ...(Morris) 3
Mount Blair. Lord Stanley, Mervyn, Ben Gaunt, Frou-
Frou, Lady Stud:ey, and Lady Mortimer also ran. Won
cleverly by a neck; two lengths between the second
and third.
Tlo Great Northern Handicap of 200 soya. Two miles over

THE MONEY MARKE

AND

COMM ERCIAL INTELLIGENCE.

CITY, Two o'CLocx.

The brilliant weather; and the improved accounts received
from all quarters of the progress of the wheat crop, have had
the cffect of imparting a firm tone to the Coneol Markets,
and the quotations hate been well maintained. For delivery
the quotation has been 941 to 941, and for June account,
941 to 941. Reduced and Nett, Three per Cents., 92/
to 921. Exchequer Bills par to iss, prem.. Bank
Stock has mar4ced 233 to 235 ; India Five per Cents. have
been done at llai to 1141 ;an Indian film& at 20s. to
25s prom: ; Metropolitan Board of Works 31 per Cent.
Stocit have been dealt in at 951.
In the market for Colonial Government Securities business
to a moderate e/f tent has been concluded, and the quotations
have been maintained.
Generally speaking the toner of the inirket for English
Railway Stocks has been dull, and Metropolitan, Caledo-
Dial.), South Eastern, and Great Western have been 1 lower.
London and North Western, however, owing moan increase
in the traffic receipts, has risen 1. The receipts of the.
Midland Company also show an increase of £1,735. The
following are to-dny't transactions:—Bristol and Exeter, ;
Calsionittn,.74l; Great Western Consolidated Ordinary, 721;
Metropolitan, 72111 Metropolitan District, 341; and South
Eas!ern, 761.
The refusal of Marshal Espartero to accept the throne of
Spain has had a depressing effect open Spanish Securities,
and the to ening prices showed a reduction of 1 per cent.
More firmness,however,has since prevailed, and a portion of
the decline has been recovered. Turkish 5 per Ceuta, have
been in request, and have marked 51k. Peruvian steady,
and Egyptian firm. The following are the actual transac-
tions of to-day t--Portuguese, 1869, 341 I; Spanish, 1867,
311 1; Do. 1869, 301 ; Turkish, 1865, 501 1; ; Do. 1869,
64 1 ; Italian, 1861, 581 ; United State', 1867, 901 ; do,
10-40, 861
Telegraph Shares are rather firmer, and several slight
improvetnents have taken-place in the quotations. British
Indian Submarine fias advanced to 9 to 91 ; Falmouth and
Gibraltar, 9 lo 91; Mediterranean Extension, 6 to 61; Anglo-
American, 171 to 17}; Telegraph Construction, 341 to 35;
Silver's India Rublnr, 441 to 4 .

The supply of money iu the open market appeal...to be
rather large, and the rates are slightly easier. Transactions
have been reported at 2i per cent. for short-dated paper, but
these are exceptional, and the rate demanded is, as a rule,
fully equal to the official minimum. It is more than pro-
bable, now that the Government balance in the hands of the
Bat k has reached its maximum, and that the natitMal ex-
penditure will be In excess of the receipts - the latter having
been forestalled - that Capital will be gradually spread
over a large surface, and that the position of the Bank
will be proportionably weakened. Nevertheless the
Bank is just now in a very strong position, the
proportion of reserve to liabilities being no less
than 4-) per cent., against 33 per cent. last yee.r. Again,
any rise in the rate of interest would be followed by heavy
imports of specie from abroad, the stock of coin
and bullion in the Bank of France being very large,
and until a large amount of the capital still un-
employed has been absorbed it is fin ossible that money
:tan be maintained at a ♦ery high figure. It may be antici-
pated, however, that the Bank of England will gradually
lose the position they have now 80 lung held as the head of
the discount market, and that the Lombard-street dealers
will have better opportunities for obtaining capital.
The Elbe has taken out to the West Indits £1,866.
The Liverpool Cotton Market is telegraphed dull at irre-
gular prices. Estimated sales, 10,000 bales.
A special meeting of the shareholders of the London and
North Western Railway Company was holden at Euston-
square this afternoon, Mr. Moore in the chair ; when powers
were given to the directors, trader power of several hills now
['ending in Parliament, to carry out inter alia additional and
improved eteam transit between Holyhead and Ireland, Fleet-
wood, and Belfast. Mr Evans, a shareholder, warned the
directors in respect to the former. They were going a long
way for traffic which might be got nearer home, and the
result would be doubtful. The chairman said the London

and North Western Company had posseskion,of the Chester
and Holyhead line, and in the interest of the shareholders
were hound to get all the traffic they could upon the lice.
The steamboats were paying their own way, so far as this
company was concerned, and depend upon it all would be
right in tit) end. The several bills were approved nem. con.,
and the proceedings terminated.