The Sun.
London, England, 1870-07-20 00:00:00

MONETARY REPORTS .-YESTERDAY. _ESTERDAY.

The absence of any further intelligence in this morn-
ing's telegrams tending to foster the belief of a spread of
the war on the Continent, was regarded as a favourable
featue on the Stock Exchange this morning, and notwith-
standing business was still confined within very moderate
limits, the tone of the various department was rather more
healthy. Howevor, vague rumours soon began to circu-
late, which, although they have not received confirmation,
have at least been of sufficient consistency to
cause further sales to be succeeded by a general decline.
The most important report was that an affiance had been
concluded between Austria and France, and, it being
expected that were such an amalgamation of forces
to take place, Ruisia would not long remain an idle spec-
tator of the scene, but would speedily support Prussia
with the whole of her available power, the effect upon
the stock market was electrical, and the fall
very severe. Consols at one time fell to 89 sellers,
the lowest quotation touched since 1866, and shewing a
decline of 4 per cent, since the first rumour of an outbreak
of hostilities, but the price subsequently recovered
per cent. Railways and foreign bonds fluctu-
ated in sympathy. Turkish, Egyptian, Italian,
Spanish, Peruvian and United States Five-
Twenty bonds each shew a reduction averaging about 1
per cent ; whilst the railway market has been more severe,
averaging as much as 2 per cent.
The Consol market opened with a fair amount of
steadiness. The quotation being 90i, 90i. On a pres-
sure of sales, the price then receded to 88,
89, but at the close it had recovered to
89k, 89% for delivery and the account. Reduced
and New Three per Cents., 89i, 892 ; Bank stock has
marked 231, 233 ; Exchequer bills are quoted at Is, to 6s.
prem.; India Five per Cents., 110 f, 1111, and India bonds
21s. to 265. prem. The Metropolitan Board of Works
Loan has been done at 93.

An unsettled feeling has again predominated in the
forefgn bond market. At the close there was a slight
reaction, and prices, although much lower, have not
closed at their worst. Italian 1861, at 44k 45i,
are k lower. Spanish 1867 at 23k 24.
ditto (1869) at 23k, 23/ ; Turkish Five per Cents. 1, at
36k, 37k; ditto (1869) 2, at 46, 48; Egyptian (1861) 2, at
67, 69 ex div. ; Brazilian 1, at 88, 89 ; Peruvian k. at 84,
86 ; and United States Five-Twenty bonds 2, at acq, 81k.
The Spanish Quicksilver Loan has been dealt in at 12s.
discount.

Numerous heavy fluctuations have taken place in the
value of railway stocks, and the fall in prices has again
been very important. North Eastern has further re-
ceded 6, making 10 per cent, in two days, the quotation
being 129} to 130} ; Metropolitan have been 2 lower, at
67 to 67} ; Caledonian 1, at 73} to 74i ; South-Eastern 2,
at 67} to 68 ; Great Northern 3, at 115 to 117 ; ditto A,
3i, at 121 to 123; Great Eastern, 2f, at 33 to 34 ; Mid-
land, 2, at 123 to 124 ; North-Western 2, ate 122 to 123 ;
and Great Western 4, at 64 to 64k.
For Indian railway stocks there has been very little
inquiry, and a general decline has taken place. Great
Indian Peninsula have fallen 2, Madras 1, and Scinde 1.
Canadian shares have been flat. Great Western have
fallen }, and Grand Trunk, Ist Preference Bonds 2. For
foreign shares there has been but little inquiry.
For Bank shares the demand has been limited, and the
tendency of prices has indicated depression. Chartered
of India have fallen 1, and Imperial Ottoman k.
Telegraph shares have been flat ; Atlantic Eight per
Cent. Stock has fallen 2, British Indian Extension Shares
and Falmouth f, Telegraph Construction Shares have
been f lower.
Miscellaneous securities have been dealt in quietly at

drooping prices.
The sum of £24,000 in bars, and £lOO,OOO in sovereigns,
have been withdrawn from the Bank for Belgium. It is
expected that further withdrawals will take place.

The City of Brooklyn, from New York, has brought
£69,000. The Pereire has has arrived at Brest from New
York, with £lOO,OOO in specie.
The Bank of France has raised its rate to per
cent.

The silver market has been firm. Business nominally
quoted at 61k, 61. i per ounce. As regards the exchanges
the rates are entirely nominal. _ _

The Money Market has again been very firm. Capital
has been rather sparingly offered, and the demand for
accommodation has been strong. Three months' paper
has not been negotiable under 3 per cent. It is expected
that a rise in the official minimum will shortly take place
in sympathy with the upward movement on the Con-
tinent.

The Bank of Prussia has raised its rate of discount to 8
per cent., and to 9 per cent. for advances.

The report of the Bauk of Egypt to be presented on
the 22nd instant, shows an available total of £22,115, in-
cluding a previous balance of £3,370. The usual divi-
dend at the rate of 10 per cent. per annum is recommended
absorbing £12,500, and leaving £9,615 to be carried for-
ward. At the corresponding period last year, the avail-
able total was £31,109, and £7,000 was then carried
to reserve, leaving £10,709 to be carried forward. The
paid-up capital is £250,000, and the reserve £lOO,OOO.
The report of the Fore-street Warehouse Company
(Limited), to be presented on the 20th inst., recommends
a dividend at the rate of 10 per cent., which will absorb
£19,500, and the appropriation of £20,000 to extinguish
the amount due to Mr. Morrison for good-will, leaving
£15,381 to be carried forward.

The Staffordshire Joint Stock Bank (Limited) has de-
clared the usual interim dividend of 15s. per share, being
at the rate of 7i per cent. per annum, absorbing £6,538,
and leaving £7,299 to be carried forward.

At a meeting of the City Bank, a dividend of 7 per
cent. per annum was declared, and the reserved fund was
increased to £95,000 by the addition of £5,000.
A meeting has been held of the Metropolitan Bank.
The directors' report has been adopted, and a dividend at
the rate of 5 per cent. per annum has beeu declared,
At a meeting of the Imperial Bank a dividend at the
rate of 6 per cent. per annum was declared, and £3,543
was carried forward.

LONDON STOCK EXCHANGE.-TIIESDAY.

LATEST PRICES.-AFTER OFFICIAL HOURS.

The prices under the lines indicate the business done,

GOVERNMENT SECURITIES.

Three per Cent Consols 891 891 Brazilian, 1865, 5p c .... 85 88
901, I-, 891, 9 88, 7, 5
Do for Account
908, 891, 9 70, 69, 70, 67, 5,7, 9
Three per Cent Reduced 898 891 Do Rail Deben 7 p .. 89 93
901, 1, 898 Italian, 1861, 5 p c
New 3 per Cent
94 891 858, 41, 3, 48
Exchequer Bills, March ls, 6s pm Portuguese, 1869, 3 p c.. 26 29
Do, June ls, 6s pm 271
Bank Stock
838
India 5 232
per Cents llOlllll Do Nicolas 4p c 6O 65
111 65; 31 4, 60, 28
India Bonds 2ls, 26aprn Spanish, 1867, 3pc
Can 6pc Jan&JulylB77-84 102 104 25, 38, 1. 3, 1
Do _ March & Sept. 105 106 _ Do, 1869._Ap_c

Do 5p c Jan & July. : 94 96 Turkish, 1854: 6 p c..
Do Inscribed Stock .. 94 96 801
Dom of Can 5p c 1903 .. 95 97 Do, 1865, 54p c
Ceylon 6 p c May and 381, 6, 74, 6 ad
November 1878 lOB 109 Do, 1865, 6p c
Mauritius 6p c Jan and IL S. 5-20 Bonds, 6p c 1882 804 814
July 1873 lOl 103 824, t, 14, 24, 804, L, 4, 1
New S Wales 5 p cliiil-76 99 101 Do
81 do 1885 80 81
100 f
New Zealand 6p c 1891 lO9 111 Do 10-40 Bnds, 5p c 1904 794 804
Do 5p c
Do 5 p c
i_ Consolidated 97 99 Erie Sha,ls 100 dole, all paid 144 154
97, 144
Do 6p c mar & Sept 1891 110 112 Illinois Central Shares .. 99 101
Do June & Dec 1891 108 110 101, 991
Vie 6p c Jan & July 1891 111 113 Atlantic and GW R Con
DoApril & Oct 1883-85 llO 112 Mortgage Bonds 2O 22
110, 111 201. 21
Viet 5p c Jan & July 1894. 99 101

81' 83'