The Sun.
London, England, 1870-06-15 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, 3 UNE 15, 1870.

THE MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocx.

Business on 'Change continues quiet, and prices steady.
There is but a limited demand for railways. Great
Northern are lower, but North Eastern are tolerably
firm.

Consols are now 924 to 921 i ditto Account, 922 ;
Three per Cent. Reduced, 92 to 921 ; New 3 per
Cont., 921 to 921; India Five per Cents., 111 ; ditto
Four per Cents., 102 1 ; Expliequer Bills, £l,OOO 21 per
cent., 1 prem ; ditto £lOO, £2OO, £5OO, 51 prem. to par.
In the Foreign Market Mexican are now 161 to 161 ;
Spanish 1867 Loan, 32 to 321; do. 1869, 311 to 311 ; Peru-
vian, 91 to 92 ; Portuguese, 334 to 34 ; Brazilian, 911
to 924 ; Egyptian, 831 to 831; New Peruvian, 14 to 11
prem. ; Quicksilver, 21 to 31 prem. ; Turkish, 1858, 74 ;
and Italian, 1861, Ex. 25 francs, 591 to 594.

In the Railway Market Caledonians are 78f to 781;
Great Eastern, 411 to 402 ; Great Northern, 1858 ;
Great Western, 741 to 74 ; Lancashire and Yorkshiie,
1341; Brighton, 44 ; London, Chatham, and Dover,
161; London and North Western, 1301; London and
South Western, 914 921 ; Metropolitan, 651 to 661 ;
Midland, 1321 to 1321 ; and Sheffields, 531 to 531.
American Fire-Twenty Bonds are at 90 to 901 ; Erie
Railroad, 171 to 18 ; Illinois, 114 to 1141 ; Atlantic and
Great Western Bonds, 281 to 281 ; and the Debentures,
35*to 351.

Anglo-American Telegraph Shares, are 16 to 161 ex div.;
ditto Mediterranean, 151 to 151 ; Atlantic, 12} to 13} ;
ditto Eight per Cent. Preference, 11 to 1.1 ; British Aus-
tralian, 3to 31 dis. ; British Indian Submarine, 8 1-16
to 8 3-16 ; ditto Extension, 6-1, to ; China, 3to 2 dis. ;
Falmouth and Malta, 8 15-16 to 9 1-16 ; French Atlantic,
141 to 15} ; Reuter's Telegram, New, 8 to 8} ; and Pa-
nama, 6} to 7.
In Miscellaneous Shares, General Credit are quoted }
prem. ; International Financial, n 1 dis. ; Hudson's Bay
Company, 1313} ; India Rubber Works, 444 451 ; London
General Omnibus Company, 21 24 ; National Discount,
11} 12 ; P. and 0. Steam, 45 46 ; Royal Mail Steam,
51 53.

The Manchester markets have opened without activity.

Mr. George Preston White, C.E., consulting engineer
to the India Office, and examiner for all appointments of
engineers for India, has been appointed consulting engi-
neer for the Japanese Government in the construction of
the railways for which the nine per cent. loan of £1,000,000
has just been raised.
With reference to the harvest this year in Austria and
Hungary the Austrian Minister of Commerce states in his
report that the prospects in the East of Europe are every-
where highly satisfactory, more especially in Hungary,
Galicia, and Bohemia, and that should no untoward event
happen the yield will be such as to lead to a very large
export trade. On the other hand, the accounts from
Western Europe are far from satisfactory, particularly
those from France.

At a large meeting of the retail tea trade, resolutions
have been passed unanimously to protest against the con-
templated withdrawal of the lllb. draught on tare allowed
on all packages over 281 b. ; and that that draught has
been regatded by the trade as an equitable settlement
against the contingencies incident to re-distribution ; that
the attempted innovation should be resisted ; and that
for that purpose there should be combined action on the
part of the wholesale and retail trade.

The latest commercial accounts from Montevideo an-
nounce incidentally that in the neighbouring Argentine
Republic the Central Railway from the port of Rosario
to the interior city of Cordova, 240 miles in length, and
constructed under contract with Messrs. Brassey, Wythes,
and Wheelwright, had been completed, and was to be for-
mally inaugurated on the 19th ult.
A petition for the winding up of the Upper Assam Tea
Company (Limited) is to be heard before Vice-Chancellor
Malins on the 24th inst.

The annual meeting of the South Australiam Company
:Limited) is called for the 29th inst. _ _ _

The annual meeting of the proprietors of the Bank of
South Australia is convened for the 28th inst.

Advices from Scotland announce the failure of Messrs,
Gow Brothers and Co., handloom manufacturers,
Auchterarder.

The Bonds of the San Domingo Loan are firm at 66
;o 67.

The Scrip of the New Khedive Loan is steady at i to I
prem.
The Certificates of the Roumanian Government Iron
Bridges Annuity are li to 2 prem.

THIS MORNING'S NEWS.

IMPERIAL PA [ILIA N'l'
.

HOUSE OF LORDS.-TUESDAY.

The Lord Chancellor took his seat on the woolsack at
five o'clock, at which hour there was a full attendance of

peers.

The Union of Benefices Bill, introduced by the Bishop
of Oxford, the object of which was to give parishioners in
places where the church was pulled down full rights in
the common church that might he appropriated to the
united parishes, was read a second time.
- - -

The Benefices Resignation Bill, the object of which was
to extend to the beneficed clergy the provisions of an act
passed with regard to the retirement of bishops, was also
read a second time.

err in a large as well as a small sense, and Ms opinion
was that if there had been more small proprietors in Ire-
land, such a bill as that now before the House would
never have been heard of. It was simply a proof that
the Irish landlords were politically weak: With respect
to the other proposals of the bill, he applauded the in-
tention, but he did not think the machinery was such as
to carry them fully into operation. He ob-
jected specially to that part of the bill which proposed for
the future to limit the liberty of contract. He was ready to
admit that the difficulty of the Land Bill was not the
Government's own seeking, and if they took rather a
peculiar mode of getting out of the complicated state of
affairs, they ought not to be too severely blamed. That
however was no reason why they should include in an
Act of Parliament a scheme of spoliation. They had
come to the conclusion that the tenant was to be compen-
sated, and that a certain custom was to be observed, that
closed the matter as far as the tenant was concerned, yet
it was proposed under certain circumstances that the tenant
should have a sum varying from athird to one-fourth of the
fee of the land. They took it from the landlord's pocket in
order to put it into that of the tenant. Although that
would only occur under certain conditions, he was bound
to say he should give the strongest opposition to that por-
tion of the bill, as he believed it was a violation of Parlia-
mentary obligation, and a proceeding that would in effect
be divorcing a landlord from the management of his own
property.
The Earl of KIMBERLEY expressed pleasure at the tone
in which the provisions of the bill had been commented on
by their lordships, and then proceeded to explain and de-
fend the clauses that had been objected to by the Marquis
of Salisbury, and contended that they were not asking
the landlords to do more than good landlords did already.
He was not so sanguine as to say the bill now under con-
sideration must succeed, but he augured well for it from
the tone in which it had been discussed, and if it should
succeed its effect would be to lay the axe at the root of
the tree of Irish disaffection.

Lord BANDON objected to many of the propositions of
the bill, more especially the compensation, which he
thought was fixed too high.
Lord MoNcK gave a general support to the measure, but
he thought there were too many occasions given for
appeals, which would cause unnecessary litigation.

On the motion of Lord CAIRNS the debate was ad-
journed.

Th 2 Norwich Voters Disfranchisement and the Bridg-
water and Beverley Disfranchisement Bills were severally
read a third time and passed.
Their lordships rose at twenty minutes to one.

HOUSE OF COMMON S.—TUESDAY.
The Speaker took the chair at five minutes to four
o'clock.

NEW MEMBER.

Mr. Bailie Cochrane took the oath and the seat for the
Isle of Wight. He was introduced by Sir John Hay and
Sir James Elphinstone.