The Sun.
London, England, 1870-01-27 00:00:00

RONEY MARKET

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The weekly meeting in the Bank Parlour has
not resulted in any alteration being made in the
official rate of discount. •On 'Change the settle-
ment of the account occupies most attention ; buy-

ing and selling is completely neglected for the time,
arrangements being the principal matter with the
brokers and others. The prices of the Public Secu-
rities are drooping, and the same feeling prevailed
blithe Foreign Market, but with respect to the Rus-
Clan Loun the applications have been, it is said, al-
Most on an extraordinary scale. American Bonds
are very quiet, and beyond a trifling improvement
in Eries and a decline in Illinois, there is no altera-
tion to report. Telegraph Shares are somewhat in
demand, but in Banking and Miscellaneous Stocks
prices are almost stationary.

Consols are now at 924 to 921 for money ;
ditto, for Account, ; Three per Cent. Re-
duced, 924 ; New Three per Cents, 924 4 ;
Exchequer Bills £l,OOO, March, —pr Em. ;
June, —; ditto £lOO, £2OO, and 1500, March,
Par ; June, 1 dis. ; Bank of England Stock,
4} per Cent., 239.
India Stock, 104 per Cent., April, 1874, —;
ditto 5
per Cent., July, 1880, 112 114 ; ditto 4 per
Cent., Oct., 1888, 1004 ; ditto Enfaced Paper,
,
Per Cent., 110.
In the Foreign Market, Turkish Fives have de-
clined to 434 ; the Six per Cents., 664 ex div. ;
BPanigh are 274 to 274 ex div. ; Peruvian, 785 to
„
;.Mexican, 14/ to 154 ; Argentine, 854 to 85/.
The Russian 1862 Goverment Loan is 85 to 85 ;
Orel, 834
to 83/ ; Nicolas, 654 to 66 ; Moscow, 805
to RI
; Charkof, 82 to 824 ; Egyptian (1868)
Loan
c, is 76/ to 774 ; Viceroy's `even per Cents.,
804 to 80/ ; ditto Nine per Cents., 974 to 974.
In the Railway Market a rise taken place in
Caledonian, Great Northern, Chatham, and Great
Eastern, but Brighton and Loudon and North
Western are lower. The quotations are now as
follows :—Caledonian, 774 to 78 ; Great Ea6tern,
374 to 374 ; Great Northern, 111 to 112 ; ditto
(A), 1124 to 112; ; Great Western, 634 to 64 ;
Lancashire and Yorkshire, 128 to 128} ; Lon-
don and Brighton, 45 to 454; London, Chat-
ham, and Dover, 15 to 154 ; London and North
Western, 123 to 1244 ; London and South
Western, 93 to 94 ; Metropolitan, 785 to 79 ;
Midland, 1224 to 122/ ; North Eastern (Ber-
wick), 1254 to 126 ; and South Eastern, 765
to 77.

American Five-Twenty Bonds are 86/1- to 87 ;
the Ten-Forties, 81 85 ; Erie Shares, 17t to 18i ;
and Illinois, 1021 to 1031 ex div.
Lombardo-Venetians are 19i- to 20 ; and Great
Luxemburg, 13k to 13k.
In Telegraph Shares theree has been an im-

provement. Construction and Maintenance are
higher, at 364 to 39i; Anglo-American are 191
to 19E; British Indian Submarine, 151 to 151;
China Submarine, 1 to 1 prem. ; Falmouth, 31.
to 4 prem., and French Cable, 18 to 18f ; India
Rubber Company, 49 to 50.
In Bank Shares the quotations are as follows :
Alliance, 12/ to 131 ; Anglo-Austrian, 14 to 16
prem. ; Chartered Mercantile, 32 to 33 ; Consoli-
dated, 41 to 41 ; Imperial Ottoman, 21 to 21
prem. ; London and County, 50 to 51 ; London and
Westminster, 60 to 61 ; London Joint Stock, 33/
to 341; and Union of London, 351 to 361.
A further sum of £12,000 in gold was taken
from the Bank yesterday. The withdrawals during
the week since the last return have been £269,000
The Holsatia, of the Hamburg-American Steam
line, has left New York, and may he expected at
Plymouth with £200,000 in silver, from Mexico, on
Thursday next. She will also bring mails, the
company having now consented to do so on the
terms offered by the American Government,
although they consider them to be totally inade-
quate.

Large numbers of Erie shares are being sent to
the Shareholders' Protect'ou Committee to be '
stamped. After the 31st inst. none will be received,
and the holders who have neglected to comply with
the recomin,niation will Then for a inn,: be J u')-
jected to the inconvenience of finding their pri-
PartY virtually unmarketable.
A circular bas been addressed by the directors to
the shareholders of the Falmouth, Griuraltar, and
Malta Telegraph Company (Limited), announcing
that it is intended to change the point of departure
for the company's cable from Falmouth to Porth-
euruo, a small bay near Penzance. The engineers,
it is stated, have advised this course, as the
sandy bottom, and absolute freedom from fishing
vessels, rocks, or anchorage at Porthcurno are so
certain to add to the security of the cable.
With regard to the proposed re-establishment of
telegraphic communication between the Channel
Islands and England, it is stated that arrange-
ments have now been completed for landing and
Working the cable, besides which a local guarantee
has been obtained for a dividend of 10 per cent. in
the event of the line not yielding so much during
any of the three:years after it is opened. It is ex-
pected
that the opening will take place about the
Ist of May.
The amounts to be paid by the Government for
the telegraphs on Friday next are as follows :
Electric and International Company, £2,938,826 ;
British and Irish Magnetic, £1,243,536 ; Reuter's
Telegraph Company, £726,000 ; United Kingdom,
562,264 ; Universal Private, £134,422 ; London
and Provincial, £60,000. Total, £5,715,048.
The report of the Land Securities Company re-
commends a dividend at the rate of 4 per cent. per

BRITISH FUNDS—CLOSING PRICES.
CiOVERNMENT IiNDIS.
3 per Cent. Consols .....
Ditto for Account
per Cent. Reduced ........................ 921
New 3 per Cent
Now 21 per Cent. Jan. 1894
Do. 5 per Cen Jan. 1873
SO yrs, expire sth Jan., 18.8.
Do. for 30 yrs, expire sth April IsBo •
Do (Red Sea Tele6raph), Aug., 190!•:„.
Excliequ-l• Bills, £I,OOU, 21 p. Ct. March
Do. 21 do. Juue
Do £lOO, .£20,1 & £5OO 1 dig
Bank of England Stock, 41 per Cent
De. opening
Canada 4 per Cent. Bonds
inter-Colonial Uranium
INDIAN CIDVERNMENT 6F.CtiItITIES
India tock, 101 per Cent., April 1874...
Do. Opening, for Account
D. o per Cent. July, 1880
Do 4 pez• Cent. Oct. 1888
Do. Enfaced Pape' 4 par Cent..
Do. 5 per Cert., Jan. 1872 ....
Do. 5} per Cent. May 1879
Do 5 per Cent., Rup. 1872„.
Do do
Do. do. 1882
Du. Deb., 5 per Gent., Aug. 1873 ~
Do. Bonds, 4 per Cont., £l,OOO ... —
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent B5l 1
1)0 14.001111 t

...... ;In

annum.
The report of the Universal Marine Insurance
Company (Limited) recommends a dividend of
76. 6d. per share, making, with the previous sum
of 2s. 6d., a distribution at the rate of 10 per cent.
for the year.
The dishonest conduct of certain foreign Govern-
ments in subjecting their creditors to taxation seems
to have been deemed by the Italian Irrigation
(Count Cavour) Company as sufficient to justify
Similar treatment of their septennial bondholders
in respect of a contract made exclusively in this
country in sterling. The Permanent Committee of
the Protection Association have accordingly invited
the co-operation of all septennial bondholders in the
proceedings about to be taken in Italy to test the
question of the company's right to make a deduc-
tion from the half yearly coupon, which virtually
amounts to a partial confiscation.
The French steamer Asie, Captain Lapierre, is
the first steamer returned from Bombay to Mar-
seilles, via the Suez. Canal. She left Bombay on the
25th December last, arrived at Suez on the Bth of
January (entrance of canal), 9 a.m. , reaching Port
Said the following day, Jan. 9, at 4 p m. Left Port
Said the 10th, for Alexandria, where she took in
cargo and passengers. Left Alexandria the 13th
inst., 6 p.m. ; arrived at Marseilles the 22d Jan.
All well.