The Sun.
London, England, 1870-01-14 00:00:00

A; 0 E k IE T

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CeocK.
To-day the transactions on 'Change were very
limited, and business generally was dull. The state
of affairs in Paris and the settlement doubtless
affected the markets, and prices of Consols were
the turn lower. In Foreign Securities there was
not much doing, but the closing prices generally
were well maintained, the only exception being that
Russian Stock was better. In Railways we have to
quote an improvement in Great Northern Stock.
There was an active demand for Telegraph shares.
Banking shares were in request, but in miscellane-
ous stocks the transactions were trifling.
Consols are now at 921 1 for money;
ditto, for Account, 92! 2 ; Three per Cent. Re-
duced, 921 ; New 'ft- ree. per Cents, 9'2;1 1 ;
Exchequer Bills £l,OOO, March, 3 prere. ; June,
5 prem. ; ditto £lOO, £2OO, and 000, March,
; June, prem ; Bank of England Stock,
41 per Ceps., 2371.
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, 1111 12 ; ditto 4 per
Cent., Oct., 1888, 1001 1 ; ditto Enfaced Paper,
5 per Cent., 1051; ditto Bonds under £l,OOO, 25
prem. ; Metropolitan Board of Works, 31 per cent.
Stock, 931.
In the Foreign Market business continues very
inactive. Brazilian are quoted 891 to 90 ; Danu-
bian Seven per Cents., 89 to 90; ditto Eight per
Cents., 931 to 941- ; Egyptian (1868), 84 to 82 ;
Viceroy's Seven per Cents., 811 to 81/ ; Italian,
551 to 55/ ex div. ; Russian (1862) 861 to 861 ;
Orel, 831- to 84 ; Nicolas, 651 to 661 ; Moscow,
811 to ;811 ; Charkof, 82 to 83 ; Spanish, 271 to
27/ ; Turkish Five per Cents., 44 to 441 ex div. ;
and the New, / to / prem.
American ,Five-Twenty Bonds are lower. The
1862 Loan is now 861, the 1865 Loan 861, and the
1867 Loan 851. ',Ten-Forties, 841 to 851 ;
99 to 100 ; and Erie Shares 171, being 1 better.
In the Railway Market there is an improvement
in the Great Northern. Tha prices are now quoted
as follows :—Caledonian, 76 to 761 ; Great Eastern,
381 to 381; Great Northern, 1101 to 1111- ; ditto
(A), 1111 to 1111 ; Great Western, 601 to 611;
Lancashire and Yorkshire, 1281 to 128/ ; Loudon
and Brighton, 45 to 451 ; London, Chatham, and
Dover, 141 to 151; London and North Western,
124/ to 124 ; London and South Western, 92 to
94 ; Metropolitan, 791 to 80 ; ditto Extension
Stock, 781 to 791 ; Midland, 1231 to 1241 ; North
Eastern (Berwick), 127 to 1271 ; and South
Eastern, 771 to 78.
Lombardo-Venetian is quoted at 201 to 21} ; and
Great Luxemburg, 131 to 131.
Anglo-American and French Cable are each I
better, the former being 191 to 198 ; the latter,
171 to 18 ; British India Submarine, 141 to to 141 ;
China Telegraph, 1 to 1 prem. ; Falmouth, 4 to 44
prem. ; and Construction and Maintenance, 34
to 341.
In Bank Shares, London and Westminster are
10s. higher, at 602 to 611 ; London Joint Stock,
331. to 34; Union of London, 38 to 39 ; London
and County, 50 to 51 ; Imperial Ottoman, 21 to
21 lex div. ; Consolidated, 41 to 41 ; Chartered
Mereautile, 311 to 321 ex div. ; Anglo-Austrian,
15 to 17 prem. ; Alliance, 14 to 15 ; and Agra (A),
12 to 122.
There were no gold operations: at the Bank
yesterday.
All the recent arrivals of gold have been taken
for exportation, a portion for Paris, and some
amount for Turkey, with a few limited sums for

A prospectus has been issued of a plan for con•
structing a line of four miles, to be called the Eas
and West Metropolitan Junction and Mansion
House Railway, to start from Bow, passing under
the Mile-end-road, Whitechapel, Fenchurch-street,
and Eastcheap, to a junction with the Cannon-
street and Charing-cross line ; while, by a short
curve at Aldgate, it would also connect with the
system of the Metropolitan Railway Company, thus
completing an inner circle," and obviating all
necessity for proceeding with the inner circle line,
the abandonment of which has for Force time past
been deemed desirable. Mr. Brunlees appears as
the engineer of the undertaking, and its chief
feature seems to be the moderate character of the
estimate, the total for the entire four miles being
under £1,500,000. The scheme contemplates a
connexion at Bow with the traffic of the Great
Eastern, the North London, the London and North
Western, and the Tilbury and Southend lines ; and
the Parliamentary plans, &c., have been lodged for
the present Session.
The public are awaiting the payment of the
Telegraph money to ascertain the general course of
financial affairs. Between the end of the present
and the beginning of the next month the whole
will have been distributed, and then it will be seen
What the effect is likely to be upon the general
money market. Some people seem to consider
that the expected general beneficial influence has
already been in a great degree anticipated, and
that the consequences will not be so widespread as
imagined. Others believe that a considerable amount
of the balance of the £5,000,000 not yet arranged
for will go into Submarine and Telegraph shares,
and thus again be rendered reproductive. Pur-
chases by the speculators have in a variety of cases
been made with this view, as it is asserted the
Public will come forward and take these classes
freely for investment in the course of the next fort-
night or three weeks. It is conjectured that when
all these lines are laid they will be sought to be
acquired, like the old telegraph companies, by the
Government.
The directors of the Ocean Marine Insurance
Company recommend the payment of 20s. per share
bonus and ss. per share additional interest.
The directors of the London and Provincial
Marine Insurance Company recommend a dividend
for the past half-year, at the rate of 10 per cent.
per annum.
The directors of the New Zealand Trust and Loan
Company (Limited) recommend a dividend of ss.
per share, being at the rate of 10 per cent. per
annum.

Messrs. C. J. Hambro and Son invite subscrip-
tions for £450,000 in £lO shares of the Great
Northern Telegraph China and Japan Extension
Company, being part of a total capital of £600,000,
of which £150,000 has been subscribed at Copen-
hagen. The company
is constituted under Danish
carrying out an exclusive concession granted
by the Russian Government for connecting China
with Europe and Japan through Russia. CaLles
are to be laid
fromthe
lines at Posietta Ba existing Russian land
Y to Shanghai, and sub-
sequently to Hong Kong, and
a working agree-
ment has been concluded with the Great North-
ern Telegraph Company, bywhose lines the
traffic will be conducted between Russia and
England. The cables are to be manufactured by
Mr. William Hooper, and are to he
ready for ship-
ment within three and six months, r espectively.
At a meeting of the China Telegraph Company
(Singapore to Hong Kong) on Thursday lad
resolution was adopted for the raising of
capital
to extend that enterprise to Shanghai, but :
in the
nterests of public economy it may be saggested
that, instead of Danish and English cables being
laid side by side, some arrangement should be
arrived at for harmonious working between all the
parties concerned.
The report of the International Financial So-
ciety (Limited) recommends a dividend at the rate
of 5 per cent. per annum.
The report of the Metropolitan Bank (Limited)
recommends a dividend at the rate of 5 per cent.

per annum.
The return from the Bank of England for the
week ended the 12th of Jan. gives the following
results when compared with the previous week :--
•,est
PuLlic deposits
Other deposits 17,319,112 Increase ..„ 79,605
Oa the other side of the account :
•overnment seeuri-
tie& £13,811,953 ... No change.
•ther securities 18,088,159 Increase ~. 1,510,278
Notes unemployed 10,662,410 ... Decrease ... 200,665
The amount of notes in circulation is i 22,604,940