The Sun.
London, England, 1870-08-13 00:00:00

FHE MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocx.
The markets for Stocks and Shares exhibit a firm ap
pearance, and the tendency is still upwards.
Consols are now 911 to 911 for money, and 911 to
911 for account ; Three per Cent. Reduced, 911 to 911 ;
New Three per Cents., 911 to 911 ; India Five per
Cents., 1091 ; ditto Four per Cents., 1001; ditto 4
Bonds., par ; Metropolitan Board of Works, 31 per
Cent. Stock, 981.
In the Foreign Market Brazilian Bonds of 1865 -are
90; Egyptian Seven per Cents. of 1864, 84 to 841; ditto
of 1868, 701 to 711 ; Spanish of 186', 25 to 251; ditto of
1869, 241 to 25i ; ditto Quicksilver, 70 to 71; Peru-
vian, 85 to 84k; Turkish Five per Cents. of 1865, 42 to 421;
ditto of 1869, 53 to 542 ; and Five per Cent. Italian of
1865, 77.

The Railway Market—Metropolitan are 651 ; Great
Eastern 301 to 321; London and Brighton, 35i to 841 ;
Caledonian, 73 to 73k; South-Eastern, 691; Manchester,
Sheffield, and Lincolnshire, ;41; Great Northern, 1171 to
118 ; ditto (A), 121} ; North Eastern, 1361 ; London
and North-Western, :1251 ; Midland, 1251 ; Lancashire
and Yorkshire, 1281 ; Great Western, 651.
Canada Six per Cents. are quoted 1021 ; New
South Wales Five per Cents., 100 to 992 ; New
Zealand Five per Cents., 971 to 99 ; Queensland, 106;
Victoria Five per Cents., 1001; and ditto Six'per Cents.,
1111.

Anglo Mediterranean, 12 13k ; British Indian Exten•
sion 5/ to 51 ; Falmouth, 9 to 5-16 ; British Indian
Submarine, 64.
In Bank shares Alliance are quoted 13 to 14; Anglo-
Austrian, 18 premium ; Chartered Mercantile, 27 ;
Consolidated,l 1 prem ; Imperial Ottoman, 11/ ; London
and County, 50U; London and,Westminster, 59/ 60 ; Lon-
donVoint Stock, 331; and Union of London, 37i 40.
In Aiiscellaneaus Shares Berlin Water Works are quoted
141; Viceroy of Egypt 7 per cent. Mortgage Loan, 721;
National Discount Company, 101 ; and Peninsular and
Oriental Steam, 41. _ _ .

In the foreign exchanges the suspension of specie pay-
ments in France led to a heavy advance in the rates for
Paris. The decline in silver caused a diminished demand
for bills upon Amsterdam and Hamburg, and the quota-
tions were in favour of buyers.
The directors of the Anglo-American Telegraph Com-
pany have resolved to pay, on the 15th of September, an
interim dividend of 2 per cent. for the quarter ended the
31st ult.

_. .._...
A telegram from Bombay states that at a meeting yes-
terday of the shareholders of the New Bank of Bombay
the directors! report was adopted, and a dividend declared
accordingly.

The last suspension of payments by the Bank of France
occurred on the 16th of March, 1848, just after the de-
thronement of Louis Phillipe and the declaration of a Re-
public. So different was the scale of financial transactions
at that period from those of the present day that the
amount of 'notes in circulation was only £11,000,000, while
the bullion was only £2,400,000. The amount of extra
issue required was then small, as the country was not ex-
posed to war, and there was consequently little or ho dis-
count upon it ; but a resumption was not effected until the
autumn of 1850, when the note circulation stood at about
£20,000,000, and a stock of £18,000,000 bullion had been
accumulated. Information is not clear with regard to the
time to be allowed in France before bills can be protested.
According to some it was 30 days, according to others 90
or 1000 days. A similar measure was adopted in the revo-
lutionary periods of 1830 and 1848, and in both cases when
the extended day for payment arrived the several obliga-
tions were discharged with universal punctuality,
It is stated that the service of the Peninsula and
Oriental Steam Navigation Company is not likely to be
removed from Southampton to Liverpool till the expira-
tion of about nine months, by which time the navigation
of the Suez Canal, with the aid of fresh capital, will
doubtless be greatly improved. Meanwhile much of the
cotton intended for transmisAion from India by the steam-
ers of the company is forwarded by other vessels, under
a contract between the owners and the company. When
the Peninsular and Oriental steamers are despatched
direct to Liverpool, via the Canal, this arrangement will
of course cease. The effect of the transfer will be very
prejudicial to Southampton, the prosperity of which for
many years past has greatly depended upon the company,
and the passengers carried by its vessels.
At a meeting of the board of directors of the Anglo-
American Telegraph Company it was resolved to pay on
the 15th of September next an interim dividend of 2 per
cent. for the quarter ending the 31st of July last.
The half-yearly meeting of the Submarine Telegraph
Company will be held on the 23d inst. to declare a divi-
dend.