The Sun.
London, England, 1869-01-18 00:00:00

ONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

Crry, Two o'CLoca.

Business was very inactive to-day, and prices for
nearly all Government securities gave way slightly.
However there was a trifling improvement in the
Railway Market. The rate of discount is about 2i
per cent.

' Consols are 92i 3 for money ; ditto, for Ac-
count, ; Three per Cent. Reduced, 93 i;
New Tkree per Cents, 93 s ; Bank of England
Stock, 4 per Ceneß 241 4.
India Stock, 10f per Cent., April, 1874, —;
ditto 5 per Cent., July, 1880, 112 - ; 3itto 4 per
Cent., Oct., 1888, 1021 ; ditto Enfaced Paper 5i
per Cent., May, 1879, 109 i-; ditto Debentures, 5
per Ceut., Aug., 1873, 1044.

In the Foreign Market there is a decline of i in
Italian Five per Cents., at 53; 53i ex div. ; and
Turkish Five per Cents. are 3-16 lower, at 38i
381 ex div. New Spanish Three per Cents. on
the other hand have risen nearly I, to 301 30k
ex div. Mexican Bonds remain at 15; 151 ;
Greek at 11i 12 ; Peruvian Five per Cents. at
76f 77.

The Egyptian Seven per Cent. Loan of 1868 is
70i 714 ex div. ; the Honduras Loan 85 87 ex
coupon ; Italian Scrip 1 1f prem. ; and the last
Russian Railway Loan at 1 dis., par.
In the railway market Caledonians are 4, Great
Western I, Great Northern A. 4, Midland f,
Sheffield f, and North Western f better. North
Eastern are f lower, and Great Eastern f. The
quotations are :—Caledonian, 784 ; Great
Western, 49 ; Great Eastern, 41} 42; Great
Northern, 107 8 ; ditto A, 108 9 ; Lancashire
1291 30 ; Metropolitan, 108- 4 ; Midland, 1141
15 ; Sheffield, 47 f ; Brighton, 514 to 2 ; North
British, 33f 4 ; North Western, 115 k ; North
Eastern, 103 k 4 ; South Eastern, 794 80 ; Chatham
and Dover, 164 17k.

Great India Peninsular Railway NeM Four per
Cent. Debenture Slock is 90 91 ex div.
American Five-Twenty Bonds are unaltered at
74 to 75i ; the Bonds of 1885 have improved 1,
to 73f 73i ; and the Ten-Forty Bonds are firmer
at 72 72i.

Atlantic and Great Western Railway Debentures
are 40; 41i, and the Consolidated Mortgage
Bonds, 414 46, Eries remain at 261 26!.

In Banking and Miscellaneous shares prices are
as last quoted.
The sum of £20,000 in gold was withdrawn from
the Bank on Saturday.
Three gold ships from Australia have arrived.
The Macdutrhas brought £47,500 ; the Kosciusko,
£46,000; and the Lanarkshire, £17,500. The
Bremen, from New Orleans, has also brought
£7,000.
The steamer Ceylon took out £99,000 in specie
for Bombay, of which £Bl,OOO is silver and £lB,OOO
gold. The Tasmanian, for the West Indies, has
taken £5,898.

A general meeting of the City of London Gas
Company is called for the 3d February, when a
dividend for the half year is to be declared.
The Upper Assam Tea Company have issued
proposals for a loan of £50,000. Mortgage Deben-
tures in 1,000 bonds of £5O each, for five years,
bearing interest at 6 per cent., payable quarterly,
by coupons attached, redeemable by half-yearly
drawings at 10 per cent. premium. The security
offered is the estates of the company in India and
the stock of tea here.

At the half•yearly meeting of the West of Eng-
land and South Wales Bank, hell at Bristol, a
dividend at the rate of 8 per cent. was declared,
free of income tax, as on the previous occasion.

With regard to the arrangements between the
Erie and the Atlantic and Great Western Railways,
a full and complete statement is, according to the
Railway News, to be issued in a few days by the
London Board of Directors, who will, at the same
time, " make some proposals, the effect of which
will tend greatly to simplify the proposals submitted
to the company a short time since, and accepted by
the bond and debenture holders, with respect to the
resumption of payments on the securities of the
company." It is also intimated that a deputation
from the directors of the Erie Company will shortly
arrive in London, and that a complete explanation
will then be made regarding the position of that
undertaking, showing that the recent :ssuc of shares
Were not in excess of the legal powers. In relation
to the fact which has been noticed that the copy of
the lease executed between the Erie and the At-
lantic and great Western Companies does not con-
tain any stipulation as to the minimum rental of
$1,800,000 to be paid by the Erie, it is mentioned
that these and a variety of other stipulations are
embodied in a supplementary lease, which will be
Published in the report of the London Board of
Directors now in course of preparat ion.

At the Rolls' Chambers on Saturday, in the New
Zealand Banking Corporation case, Mr. James
Cooper, the official liquidator, supported a novel
proposition to pay the creditors in full, and thereby
Put an end to a long and expensive litigation. Mr.
11. A. Hankey, who had been connected with the
bank, bad made a proposal to guarantee the credi-
tors 6s. Bd. in the pound, which, with 7s. 4d. paid
by the official liquidator, would leave 6s. to be paid,
and Mr. Cooper was willing to give promissory
notes at 6, 12 and 18 months to pay the creditors
the balance out of the funds to be realised. The
Course proposed would prevent considerable litiga-
tion, and a number of the creditors assented. The
Chief Clerk (Mr. Hawkins) approved the scheme,
and would submit it to the Master of the Rolls for
4i3 sanction on Wednesday next.
Letters from Athens, dated the 7th of January,
state that the Royal ordinance authoriEing the Mi-
nister of Finance to issue 15 million drachmas with
a compulsory circulation has been promulgated.
The notes are to be of 1,000, 100, 50, 20, and 10
drachmas. The National Bank, in alarm at the
effects of this ordinance and of the run for specie
:which the Cabinet of M. Bulgares is suspected of
Illetigating, have offered to lend the Government
Jour million in specie and six millions in their own
Paper, at 6 per cent. interest, on condition that
e°roPulsory circulation be given to 30 millions of their
notes—that is, to 20 millions now in circulation
alld 10 millions more to be advanced to Govern-
baent.

Our advices from Frankfort state that Austrian
4_,Peculative stocks experienced last week an average
decline of about 3 per cent. On the other hand,
bethessian Railway shares, guaranteed by the
Iu
te"ian Government, with 34 per cent., have re-
covered 4 per cent., being now quoted 684 to 69,
:,11(1 48 the 3i per cent. bonds of the same State are
t'.B7, they are yet comparatively cheap. Austrian
I,tlNi'aY preference shares are in good demand, while
"allau descriptions have been flat.

~ BRITISH FUNDS—CLOSING PRICES.
a k,ovARNmENT FUNDS.-,
,
Per Cent. Consols
, Ditto for Account,
liPer Cent. Reduced 93 i
I,BW 3 per Cent
-W 2 1 per Cent. Jan. 1894
A °' 5 Per Cent. J mn.187 3
--Altinities, 80 rs, expire sth Jan., 1880 —
130., for 80 yYrs, expire sth April 1885 —
E ,"-'? (Red Sea Taldvaph), Aug., 1908 —
-(34oquer Bills, £l,OOO, 2 per Ct —
Lo.
I
£5OO
II ~, ~.* 4100
"-^ of England Stock, 4 per Cent b
Can 0. account
fatittla ionr Cent. Bonds — ttter-Cial °minium.
I _,.1-NurA,N GovEnNmErrr SEOURITIEe
4,114 tock, 10i per Cent., April 1879 —O. Opening, for Accouct -
D0.13°. 5 per Cent. July, 1880
Do'
4 Pez* Cent., Oct. 1888
D.-,0. Certificates
o.Enlaced Pape. 4 per Cent —
5 per Ceat., Jan. 1872 , —
5
5i Per Ce:at. May 1879 1 91
3
do. 1877 —
.11 Do.
do. 188"
71'4 Itch 5 C Aug. 1873 ...... 104}
~ per Cent.,
-o.
110. u Bnder £l,onds, 4 per
000 Cent., £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
dr •
:fentine Republic,
uo , 6 per Cent
, . S'crip
..£45 paid ..
auitrian Bonds 5 per cent
sz, Do. 1859
6411411 5 PO/ Ceiltmentstoomititettt -"'