The Sun.
London, England, 1870-07-30 00:00:00

[HE MONEY MARKET

AND
( WWI ERCIAL INTELLIGENCE.

CITY, Two o'CLoe.K.

Stock markets very quiet, and quotations almost
nominal. Foreign bonds without change. Little business
is doing in the railway. market, and prices on the whole
are steady.

Consols are now 891 to 891 for money, and 89i for
account ; Three per Cent. Reduced, 891 to 89k; New
Three per Cents., 891 ; India Five per Cents., 1091 to
1091; ditto Four per Cents., 15 10 prem.
Messrs. Brown, Seaton, and Co., East India merchants,
of Mincing-lane, have issued a circular to their creditors
announcing their suspension. The liabilities are estimated
at £250,000, and the assets are badly spoken of.
The Java has arrived from New York with £381,600
in specie, and the Silesia with £40,000. The Bula, from
Brazil, has brought £28,000.
The receipts of the Grand Trunk Railway of Canada
for the week ending 23rd July, were £2,400 more than in
the same week of the previous year,
The dividend on North-Eastern Railway Stock for the
half-year was officially announced to-day at the rate of
7i per cent. per annum.
The Frankfort telegrams chew a considerable rally on the
Bourse. The arrivals of sovereigns from this side had
produced a great effect on the money market, and an im-
provement in the aspect of all descriptions of business. In
United States Bonds a recovery had occurred of 3 per cent.
The excitement occasioned by the failure of the house of
Mr. W. F. Jager, which was announced some days ago,
with liabilities for £350,000, had greatly subsided.

Since the end of last month the Bank of France has ex-
perienced a reduction of £7,000,000 in its stock of bullion.
On the 23d ult. the total held was £52,737,000, being the
highest ever reached. It is now £45,775,000. In the
same interval the Bank of England has experienced a
reduction of £2,640,000.

' The Silesia, due at Southampton from New York, is the
last of the steamers of the Hamburg-American Mail
Company to arrive. All the others are now safely lying
at New York, Southampton, or Hamburg.
The submarine cable of the Marseilles, Algiers, and
Malta Company, connecting Marseilles with Bona
(Algeria), has been successfully submerged by Mr. W. T.
Henley, of North Woolwich, under his sub-contract with
the Telegraph Construction and Maintenance Company.
The actual distance is 406 nautical miles. It is stated
that the second section, between Bona and Malta, is in a
forward state of manufacture, and that the shipment will
commence almost immediately.
It is announced by the Metropolitan Railway Company
that the balance at credit of the net revenue account for
the past half-year will admit of a dividend at the rate of
n per cent. per annum on the Ordinary Stock.
The liquidators of the London Colonial Company have
announced a further dividend of 2a. in the pound at the
offices of Messrs. - Theodore Jones and Co., the ac-
countants.

ALLEGED ILLEGAL SEIZURE OF AN IRON

STEAMER.

In the Court of Vice-Chancellor Malins, to-day
Sir Roundell Palmer applied for the discharge of the
recent order of the. Court as far as the Turkish Ambas-
sador was concerned. Sir Roundell Palmer stated that
the Turkish Government had given an order for the con-
struction of an iron steamer, the contract price (X 92,000)
being arranged to be paid in periodical instalments. The
vessel was ready for sea on Wednesday last, and it
was alleged by the company that on the following day
the men in charge were overpowered by the representa-
tives of the Turkish Government, and that the vessel was
seized and immediately taken to sea. The same afternoon
an injunction was obtained in that court, and on the fol-
lowing morning the vessel, under the powers of the injunc-
tion, was forcibly retained. The allegation was that the
Government had done all this for the purpose of escaping
the payment of the last instalment of £22,000, but he
was in a position to prove that the whole thing was a
mere pretext on the part of the company with the view
of escaping certain penalties which they had incurred.
But with that he had nothing to do at present, the object
of his application being to have the fact of the order
which related to the Turkish Ambassador discharged,
inasmuch as the official had had nothing whatever to do
with the transaction, and had not, in fact, been served
with a notice of the injunction.
The Vice-Chancellor, after consulting some authorities
on the question, acceded to the application.

THE ESTATE OF THE LATE MARQUIS OF

HASTINGS.

In the Rolls Court to-day Sir Richard Baggallay,
Q.C., M.P., presented a petition in the case of Bubb v.
Yelverton, which is a suit for the administration of the
estate of the late Marquis of Hastings, filed
at the instance of a creditor. Sir Richard
stated that a fund had been deposited in court
for the purpose of discharging the debts of the
deceased. At one time it was thought that the estate was
quite insolVent ; but subsequent inquiries had shewn that
it was solvent, and that to a very considerable extent.
The Marchioness and some members of the deceased's
family were the residuary legatees of the estate.
It appeared from a certificate of the Chief
Clerk, dated June last, that the debts proved
amounted altogether to £92,916, and that there
were other claims still under consideration to the extent
of £42,793 ss. 4d. The object of the present petition was
for the benefit of those interested in the estate,
by the payment of the certified debts out of the
fund in Court. Amongst those debts were over two
hundred for sums under £lO, some being as small as 55.,
and it was proposed that the aggregate amount of those
debts should be paid to Mr. Blake, solicitor to the trustee,
upon his undertaking to pay the several parties, In addi-
tion to the sums he had already mentioned, it was
the desire of all parties that £20,000 should be
paid Mr. Padwick, and as that would substantially pay
off the whole of the debts in the suit, he asked that the
costs of all the parties should be taxed up to the present
time. Lord Romilly assented to the application, remark-
ing that he had no objection to the proposal of paying off
the small creditors, inasmuch as he had the utmost
confidence in the gentleman who had been named ; and
every difficulty would be met by the insertion of adver-
tisements in the public newspapers indicating that the
small claims would be settled in this particular manner.