The Sun.
London, England, 1870-05-21 00:00:00

THE SUN, LONDON, SATURDAI, MAY 21, 1870.

him when he said there was a great and growing loss of
life and vessels. That was not the experience of the
Board of Trade, although it was true that during the last
twelve months the losses in the shipping had been prolific
of great disasters. He admitted that there was consider-
able anxiety with regard to vessels going from the East
Coast to the North of Europe ; and he should hail
with pleasure any law which would put a stop to these
losses. He said that far more losses were caused by the
negligence of officers than from overloading,and denied
that the Board of Trade was remissin instituting inquiries.
The reason why the Board had not made an inquiry into
the loss of the City of Boston was simply that they had no
facts showing that she left Halifax in an unseaworthy con-
dition. The hon. gentleman briefly described the main
features of a bill now before the House in reference
to the question. The aim of the bill was
to let the shipbuilders and shipowners build and sail
their vessels as they pleased, but they would be held
liable if any mischief arose. One of his proposals was to
enable a seaman to call in a Board of Trade surveyor to
examine a ship if it were thought unseaworthy, and also
to enable him to give evidence. The hon. gentleman said
that they also intended to improve the Courts of Inquiry,
and the customs should take notice of the draught of
water of vessels. There was no record as to the draught
of the water of the Sea Queen. An inspection of all
vessels, so asto test their seaworthiness, would involve a
cost of R5OOOOO- a-year.
Sir John Hay, Mr. Samuda, Sir J. Elphinstone, Mr.
Graves, Mr. E. Smith, and Mr. Cave having addressed
the House, the motion was withdrawn.

MONETARY REP 0 R S -YESTERDAY.

The stock markets opened with a fair amount of firm-
ness, notwithstanding that business was by no means
brisk. But on receipt of the news of an outbreak in
Portugal, coupled with the rumour of disturbances
in Italy and Madrid an uneasy feeling was apparent.
-Consols and foreign bonds were pressed for sale, and prices
receded. A reaction, however, soon took place, and a
portion of the decline was recovered. Consols have fallen
1, or to 94, 94A-for delivery, and 94k, 941 for June. Reduced
and New Three-per-cents, 92, 921 ; Exchequer bills, par to
ss. prem. Bank stock has marked 233, 235 ; Indian Five-
per-cents, 113.2, 1141; and Indian Bonds, 205., 255. prem.
In Colonial Government securities the transactions
have been restricted, but prices have ruled firm.
The railway market has been rather steadier. Metro-
politan has been done as high as 72g, but closes at fig. to
ni, or A higher than yesterday. Caledonian has risen 1 ;
Great Northern A., ; and Great Eastern, A ; but Great
Western has been A lower.
The market for foreign bonds has been in an unsettled
state, in consequence of the unfavourable reports from
the Continent. Portuguese have fallen A ; Spanish, 1;
Italian (1861), ; Egyptian (1868), A ; and Argentine
(1868), A. Chilian scrip has been in request, and has
marked 7A prem.
American securities have been quiet. Virginian Bonds
have risen A ; but Illinois Central shares have fallen A.
For Indian railway stocks there has been very little in-
quiry, but the quotations have ruled firm. Canadian
shares have been less freely dealt in. Foreign shares have
been quiet. Luxembourgs have been flat, and Lombards
have fallen 1.
Bank shares have continued firm. Imperial Ottoman
have further risen A, and the value of London and Comity,
London Joint-Stock, London and Westminster, and
Union of London has been well maintained.

Telegraph shares have been depressed. British .Indian
Submarine and Falmouth, Gibraltar, and Malta have
fallen *; and Mediterranean Extension have been rather
easier. Telegraph Construction have fallen i, and Silver's
India Rubber i.
Miscellaneous securities have been quiet, and without
movement.

The sum of £102,000 has been sent into the Bank to-
day.

As regards the exchanges there is a demand fer bills
on Italy and Spain, but the rates on Paris continue
high.
At Mark-lane to-day wheat was dull and lower to sell.
The Great Indian Peninsular Railway Company have
resolved to issue new £2O shares at £1 premium to the
extent of £300,000, being a portion of the authorised issue
of £3,000,000.
The demand for money has been only to a moderate
extent to-day. There has been a fair supply of capital,
and Three Months' Paper has been negotiated at 2 to 3
per cent. Three Months' Paper has been charged 3to 31
per cent.
In reference to the state of the bullion market Messrs.
Pixley, Abell, Langley, and Blake remark ;—Gold--
About £163,000 has been sent into the Bank during the
week. The overland mail reports the sailing of vessels
with gold for England, amounting to £30,500, and the
Peninsula and Oriental steamer has arrived at Galle with
£501,000. It is not yet known how much of this amount
is for England. Silver—The China brought about £7,000
from New York. The demand for fine bars is entirely
for Holland, and the price is now slightly weaker, at
Mid. per oz. standard. Mexican Dollars—The Cimbria
has brought £2,500, and the Deutschland £60,000 from
New York. These amounts have been taken for China,
at 59ad. per oz.
A Peruvian railway loan for nominally £12,000,000 is
understood to have been arranged to be introduced in
Paris, London, and elsewhere, but upon conditions which
will only involve a slow withdrawal of the subscribed
captial. The prospectus of the new Spanish loan for
£2,500,000, may also be expected next week.
The failure of Messrs. H. Whale and Co., of St. Peter's-
square, commission agents for the sale of cloth, has been
announced. Their liabilities are comparatively small.
Mr. John Butterworth, of 29, Church-street, Man-
chester, and of Milnrow, near Rochdale, flannel manu-
facturer, has called a meeting of his creditors for Tues-
day next. The liabilities are understood to amount to
£;),00o.

The rail. .y traffic returns for the past week are as
follows :—Lance hire and Yorkshire Railway, £49,613
decrease on corresixonding period of last year,
£3,231. Great Eastern, £37,728 ; decrease £3,836.
Great Northern, £39,312; deCreftge, £2,870. Great
`Western, £80,058 ; decrease, £6,286. Briti.4l and Exeter,
£7,967 19s. 3d. ; increase, £33 Is. 3d. Caledonian,
£38,558 ; increase, £2,328. Manchester, Sheffield, and
Lincolnshire, £22,625 ; decrease, £1,908. Midland,
£68,873; increase, £1,735. South-Eastern, £20,457155. 3d.;
decrease, £2,481 19s. 10d. • North-Eastern, £86,888:
increase, £8,971.

LONDON STOCK EXCHANGE-FRIDAY.

LATEST PRICES -AFT:

LATEST INTELLIGENCE.

(BY ELECTRIC TELEGRAPH.)
MINISTERIAL. CRISIS IN DENMARK.
COPENHAGEN, May 20.
The Ministry have resigned in consequence of an ad-
verse vote in yesterday's sittings of the Follsetting. The
King has accepted their resignation. The Ministers only
hold office until their successors are appointed.

THE NETHERLANDS.
THE HAGUE, May 20.
The bill for the abolition of capital punishment has been
passed in the Lower House by 48 to 30.