The Sun.
London, England, 1870-12-09 00:00:00

ESTERDAY

MONETAI.

The Stock markets to-day 'save been alternately steady
and depressed. During the earlier hours of business a
firm feeling was prevalent, but the tone subsequently
became unfavourable, and the value of foreign bonds gave
way. Towards the close a reaction ensued, and the de-
cline was recovered. In the market for
home securities there has been an absence
of any important feature. Business in Consols has
been only to a moderate extent. For delivery the quota-
tion has been 91i, 92 ex div., and for January 92, 92i ex
div.; Reduced and New Three per Cents, 912, 914 ;
Bank Stock, 231, 232, and Exchequer bills. 10s. to 15s.
prem. India Five per Cents have been done at 110,
1101 ex div.; and India Bonds at 225. to 275. prem. In
Colonial Government securities the transactions have
been restricted, but the quotations have ruled firm.
English railway stocks have been dealt in to a fair ex-
tent, and the quotations have improved in some instances.
Great Western have been firm, and / better, at 701, 702 ;
and North Western, I, at 1281, 1282. Metropolitan is
quoted at 641, 65 ; Caledonian, 81, 811 ; Brighton,
41, 411 ; South Western, 741, 75 ; Great Northern A
1351, 1352 ; Great Eastern, 391, 39a ; North Eastern,
1441, 145 ; Midland, 1281, 129.
For Indian Railway Stocks the demand has been inac-
tive. Bombay, Baroda, and Central Indian, 1041 ;
East India, 119 ; Great Indian Peninsula, 107/, ;
Madras, 105 ; and Scinde, 103 i. Canadian Shares have
been flat ; Grand Trunk, 10. Foreign Shares have
been in limited request ; Bahia and San Francisco, 1n- ;
Recife and San Francisco, 14 ; San Paulo, 20.
The foreign bond market opened heavily, at reduced
quotations ; but a steady feeling eventually prevailed,
and not only was the decline recovered, but an improve-
ment took place. Italian (1861) have been a
better, at 552, 56 ; Spanish (1867), I, at 311,
311 ; ditto (1869), 1, at 31, 311 ; Turkish Five per
Cents. 1, at 440, 441 ; Peruvian (1865), 911, 912 ;
Egyptian (1868), 771, 772 ; Turkish (1869), 502, 51 ;
Mexican, 131, 141; French Scrip, a, a prem. In
American securities not much business has been doing.
The Five-Twenty (1882) Bonds are quoted at 881, 882 :
ditto (1885). 87i, 881; Erie Shares, 20, 201 ; and Illinois
Central, 1101, 1111.
In Bank shares a fair business has been doing. Anglo-
Austrian have marked 161; Imperial Ottoman,
121; Oriental, 41; Union of Australia, 41a ; and Union
of London, 39,1.
Telegraph shares have been quieter. British Indian
Extension, at 6, 61, and French Cables, at 141, 2, are /
lower. Anglo-American, 81; Silver's Indiarubber, 431 ;
and Construction, 26, 26i.
Miscellaneous securities have commanded but little
attention. Berlin Waterworks, 142 ; Credit Foncier of
England, 2 1-16 ; Fore-street Warehouse, 20g; General
Steam Navigation, 271 ; Hudson's Bay, 8 1-16.
Tile sum of £19,000 has been sent into the bank to-day,
and £lOO,OOO in sovereigns has been withdrawn for Lisbon
and Brazil,
The Clearing House return for the week ending
December 7, shows a total of £76,938,000 against
£72,314,000 for the corresponding period last year.
The return of the Bank of England shews the follow-
ing results when compared with the previous week :-A
decrease in circulation of £30,359 ; an increase in public
deposits of £174,455 ; an increase in other deposits of
£254,655 ; a decrease in other securities of £107,625 ;
an increase in bullion of £509,726 ; an increase in rest of
£3,350 ;an increase in reserve of £479,266. The circula-
tion (including post bills) is now £24,233,816 ; public de-
posits amount to £6,039,972 ; and private deposits to
£18,647,780. The securities held represent £29,314,162,
and the stock of bullion is £22,672,493. The rest stands
at £3,065,087.
The position of the discount market has been unchanged.
Capital bas continued abundant, and there bras been only
a moderate demand for accommodation. Three months
paper has been taken at 21 per cent. An increase
in the inquiry may now be looked for, owing to the ap-
proach of the close of the year, but any advance in
the rate is not at all probable, as large supplies of mousy
will be thrown on the market at the commencement of
the year.
Large supplies of bullion have come to hand, and some
additions have been made to the stock in the Bank.
In the rates of foreign exchange there has been no
material alteration.
We take the following from a report of the British
Indian Submarine Telegraph Company :-By the tariff
for messages originally fixed, this company's line was 3s.
dearer to Bombay, and 10s. 6d. dearer to Calcutta and all
other places in India, than the line through Turkey and
Russia. In consequence, nearly the whole of the traffic
beyond Bombay went by those routes, and as it
was considered that, with equal rates, this company
would secure a large share of that business, the tariff
was reduced to £2 17s. to Bombay, instead of £3, and
£2l7s. to Calcutta instead of £3 10s. 6d. Experience has,
however, proved these rates unremunerative, and it is
therefore the intention of the directors, at the Telegraph
Conference to be held in May, 1871 (if the requisite per-
mission cannot be obtained sooner), to apply, in conjunc-
tion with the Indo-European Company, for permission to
increase them, and to abolish the ten-word tariff, which
was not contemplated when the company was formed, and
which has had a prejudicial effect upon the company. The
report of the Company shews that during the six months
ended September 30th, the gross receipts amounted to
£50,158, and the expenses to £16,976, leaving a net profit
of 233,182. A dividend of ss. per £lO share is recom-
mended, which will absorb £29,687, and leave £3,494 to
be carried forward.
At the annual meeting of the Scottish Union Insurance
Company, at Edinburgh, the mid-life policies for the year
were stated to have been 659 for an aggregate of £470,775,
and yielding in mid-premiums £13,367. A considerable
surplus was derived from the fire department. The in-
vested funds now amount to nearly £1,200,000,
The traffic return for the week of the Manchester,
Sheffield, and Lincolnshire Railway shew an increase of
£1,540 on the corresponding week of last year; the Great
Northern has an increase of £3,044 ; the London,
Chatham, and Dover, of £228 ; the London and North-
Westean, of £8,280; the Bristol and Exeter, of £245 ; the
Great Western, of £4,096; the Caledonian, of £4,661
the Lancashire and Yorkshire, of £5,039; and the Great
Eastern, of £1,898. All these are cases of increase.

LONDON STOCK EXCHANGE.—THuRsDAY

LATEST PRICES.-AFTER OFFICIAL HOURS,

The prices under the lines indicate the business done.

GOVERNMENT SECURITIES.

nate per Cent Consols.. 911 92 Viot Spa J
Jan& u1y1894 1031104
4
9`lad n. 1865. 5p o 92 93
1041, 3
Do for Account ...... 92 Brazilia
92 x d 921, 1
Three per Centßeduced 911 912 Egyptian 1862. 7Pa .. 79 81
911, 2 80, 791
New : per Cent ........912 912 Do Rail Deben 7p o lOO 102
913.1 Italian, 1865. 5p o
Ex chequer Bills, March 10 15pm Peruvian. 1865, 5p o
159, lls in 912, 2, IL I
Do, June.... p
.......... 10 15pm Portuguese 1869 3pa ~ 32 33
pin Russian. 1862. 5 p 0..
Bank stock ............ 831. 4
31b Do Nico66ias 14 p a
India 5 per Cets ...... —1,
1101, I,n I x d Spanish. 1867. 3pc
Indiaßonds ............ 313. 1, 1
pin Do. 1869. 3 p o
Can 6 poJan&Julyll77-84 103 105 34 1,30 L 11
ol) sMaroh & Sept. 102 104 Turkish. 18 4,6 p a 7B 80
1)o 5p a Jan & July .. 96 98 79
97, 1. 63 Do. 1855. 5 p a
Do Inscribed Stock .. 96 93 441, L 5
6
Dow of Can 5p a 1903..
19066
19088
u.D80.5., 1280661533, . 618.6 P a 1332 81 p 1
.
Ceylon 6 p c May and
83 6
884
November 1878
103
"3
D°Dolo.4BBBllll, Buda, 5P.3 WI 881 8'
Mauritius 6 p c Jan and
July 1873 do
Neer SzWeaaln..eosns6P
poi:71819-716 llOOlBllOl2Ol
IBlrillueSoihsaB67radraolleghalarl pa
99,
g 18141..
Bloolnds .
con
DD°oBslp"o Consolidated 99893199993
Atmlaourttio and (1 W It
99, 81
Do 6 pcMar&Sept 1891 106 108
V Di
cot 6 p cj.raliedcitJpuel ye 11889911 111985 118117
Do.&pril &Oct 1883-85.. 11131121
1122

1885 871 88,