The Sun.
London, England, 1870-02-05 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The attendance to-day on 'Change was very
restricted, and, as a consequence, business was
trifling ; but i❑ the transactions that did take place
no diminution in pi ice was submitted to. Consols
are firm at their opening figure, and the arrangements
that wi!l have to be made to provide funds to replace
those required for the purchase of the telegraphs
induces the belief that prices, at no di3taut period,
will go higher. In the Railway Market there has
been another rather considerable rise in the Great
Northern Stock, and the other featuros of the morn-
ing is an advance in Construction Shares. There
13 little demand for discount, but the rate iu the
open market remains unaltered.

Consols are now at 921 to 921 for money ;
ditto, for Ac —; Three per Cent. Re-
duced, 921 1 ; New Tree per Cents, 921 1 ;
Exchequer Bills £l,OOO, March, par ; June,
prem ; ditto £lOO, £2OO, and £5OO, March,
Par ; June, prem. ; Bank of England Stock,
41 per Cent., 240.
India Stock, 101 per Cent., April, 1874, 208 ;
ditto 5 per Cent., July, 1880, ma ; ditto 4 per
Cent., Oct., 1888, 1001 ; ditto Enfaced Paper,
6 per Cent., 1041 ; ditto 51 ditto, 1094 ; ditto
Bonds £l,OOO, 20 prem.
In the Foreign Market there is little business
tanving. Italians are 541 to :541 ; Argentine, 854
to 861 ex div. ; Egyptian, 761 to 77 ; Mexico, 14
to 111; Spanish New Threes, 271 to 271 ex div. ;
Turkish (1865), 431 to 431 ; Peruvian, 794 to 791 ;
and New Chilian Loan, 1 to 11 prem.
The new Russian loan is 21 prem. ; and the
Chilian Loan, 4 prem.
American Five-Twenty Bonds are 86 to 87/ ;
the Ten-Forty Bonds, 841 to 85; Erie Shares, 20
to 201 ; and Illinois, 103 to 104 ex div.
In the Railway Market prices are firm. There
IS again a rise in Great Northern (A), the price
being now 161 17/, ordinary stock 113 to 114.
Caledonian are quoted 764 to 77 ; Great Eastern,
371 to 34 ; Great Western, 611 to 63 ; Lan-
cashire and Yorkshire, 1271 to 1281 ; London and
Brighton, 441 to 441; London, Chatham, and Dover,
141 to 151 ; London and North Western 1231 to
1241; London and South Western, 93 to 94 ;
Metropolitan, 771 to 781; Midland, 1221 to 1231;
North Eastern (Berwick), 1271 to 1271 ; and
South Eastern, 761 to 761.
In Telegraph Shares Construction and Main-
tenance are 411 to 42, a rise of 11 ; Anglo-Ameri-
can, 191 to 191 ; British Indian Submarine, 141
to 141 ; China Submarine, dis. to par ; Falmouth,
31 to 31 prem. ; and French Cable, 171 to 171.
In Bank Shares London and Westminster are
marked 58 to 59 ex div. ; London Joint Stock, 311
to 321 ex div. ; Union of London, 36 t.) 37 ; Lon-
don and County, 49 to 50 ; Imperial Ottoman, 21
to 21 prem. ; Chartered Mercantile, 32 to 33 ; and
Anglo-Austrian' 14 to 16 prem.
Great Luxembourg is quoted 131 to 131, and
Lombardo-Venetian 201 to 208.
There were no gold operations at the Bank yester-
day.

The Holsatia, from New York, has brought
£232,420, principally in Mexican dollars, for Eng.
land, and the Great Britain, from Melbourne
96,500.
The £96,500 in gold brought by the steamer
'neat Britain is expected to be sent abroad, but
54410 moderate sums may be taken to the Bank
Shortly, owing to the firmness of the foreign ex-
Changes. The steamer Ripon took out £159,564
;
specie for the East. Annexed are the particu-
lars :—Galle, gold, £4BO ; Bombay, gold, £5OO ;
Madras, gold, £1,121 ; Penang, silver, £8,990 ;
Singapore, silver, £56,323 ; Shanghae, silver,
£82,150; and Alexandria, gold, £lO,OOO.
AThe Council of India will receive tenders on the
16th inst. for bills on Calcutta and Madras, to the
amount of £387,500.
The bill of last Session under which the Tele-
graphs have been purchased gave power to the Go-
l'ernment to raise a sum not exceeding £7,000,000,
b3' means of Consols, Terminable Annuiiics, or
Exchequer Bills or Bonis. Owing to the state of
ti " revenue and the new arrangements with regard
to the taxes, the necessity for acting upon this au-
thority has been in a great degree les iened, but the
belief is that a certain amount of Consols has been
created and placed on the market during the past
few Weeks, and that a further sum has been created
t c; represent funds received from the savings banks.
,i
he Government have also received the principal
'Chart of the produce of the recent loan of the Metro-
politan Board of Works in payment of an account
due
~ to them. The supplies thus furnished have
doubtless proved sufficient to meet the telegraph
claims, or, at all events, to leave only a deficiency
tiat might be matter of temporary account with
'e
Bank. According to the prevalent impression,
tho Whole affair is now adjusted, so that there will
b
40 more sales of stock ; and, looking at the
Smoothness with which it has passed off, it must be
regarded as an example of good financial manage-
"'eat on the part of all concerned.
The letters to unsuccessful applicants for the
els u ilian Loan were sent out last evening, and the
allotment letters to-day.
The proposed dividend on Great Northern Rail-
way stock for the half-year is at the rate of 74 per
cent, per annum, against 7i for the corresponding
the of 1868. This allows of £3 17s. 6d. on
Ordinary stock, £3 on the " B," and £4 15s. on
t The Grand Trunk of Canada Railway traffic re-
:4l for the week ending the 29th ult. shows an in-
rease of £9OO over last year.
special meeting of Reuter's Telegram Com-
pany (Limited) is called for the 18th instant, to
confirml the resolutions recently passed. The fol-
‘, wing resolution will also be proposed, viz. :
That
the present nominal capital of the company
Zfc1250,000, now divided into 10,000 shares of
4?. each, of which 9,000 shares only are issued, be
reduced to £BO,OOO, divided into 10,000 shares of
£8
each, of which 9,000 shares of £8 each will re-
present the existing 9,000 shares of £25 each, leav-
14g 1,000 shares of £8 each unallotted."
The colonial produce markets this week have a
tendency towards improvement, and there has
been
some partial revival of speculative demand.
Prices have, consequently, in several instances, ex-
perienced a further slight recovery.
Messrs. Neroutsos and Company, of Manchester,
describe the state of trade there as under :—" In-
quiry has been suspended ; market closes flat, with
prices a shade lower all round."
Yesterday the half-yearly meeting of the General
Credit and Discount Company
was held, when a
further dividend
of 5 per cent, was declared.
There was a slight opposition to the report of the
Scottish Agricultural Investment Company, but it
was eventually egreed to. The resolution relative to
alimiting the borrowing powers agreed to at aspecial
meeting of the Mauritius Land Credit and Agency
Was confirmed, and the report of the Credit
/'oncier of England (Limited) stated that the
directors had determined to write off one-half the
capital, and that no new loss or disaster had
occurred, was adopted.

BRITISH FUNDS—CLOSING PRICES.
UovEuNmlixT rUNDS.
a Per Cent. Consols
8 bitto for Account
92 h, Per Cent. Reduced
.“.,‘,... o 92: .1 IN, v 0 or Cent
(4%, 2!, pot. Cont. Jan. 1894
1) '
A U• 0 per Cen Jan .187 3
••enuities, SO yrs, expire sth Jan., 188 t,.
EaP,,o. fur 30 yrs expire sth April 1885 —
(Red Sea Tele6raph), Aug., 1908 —
-('4o(ittor Bills, £l,oou, 21 p. et. March
Do. 2f do. June
$.Ol
Pm
,-, ZlOO, X2(10 & £5OO.
"a^ of En I I Stock, 91 per Cent
1)(,. 0 San
tt... perking
I,"ada 4 per Cent. Bonds —
ter-Culenial Onninun
lzatc?)lAN li-)VERNMENT SECURITIEe,
ISI ktock, 104 per Cent., Apr; It,' 4 2OB
IP °Petting, for Account —
If,. 0 pot. Cent. July, 1880
12.0 1 Pot' Cent. Oct. 1888
II,: Enfaced Pap 4 per C0nt....".
1879
Do. ? per Cut., Jan. 1872 ,04,
.... .... l6l
Bo 9 per Cent. ay
Dar Cent., RuMp, Deb. 18/, 2...
Do
Do,
do 1817,... —
do. 1882 -