The Sun.
London, England, 1869-07-15 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.

REDUCTION OF THE RATE OF DISCOUNT.

The usual meeting in the Bank parlour to-day
has resulted in a reduction of the rate from 31 to 3
per cent., but money has for sometime been plenti-
ful out the house at 24.
Consols are quiet to-day at 93f 3 21 for money ;
ditto, for Account, 931 ; Three per Cent. Re-
duced, 93 2j ; New Tkree per Cents, 921 3 ;
Exchequer Bills £l,OOO, ; ditto £lOO, £2OO, and
£5OO, 4 prem. ; Bank of England Stock, 4 per
Cent., 243.
India Stock, 101 per Cent., April, 1874, 2071 ;
ditto 5 per Cent., July, 1880, 1111. j. ; ditto 4 per
Cent., Oct., 1888, 1011 ; ditto Bonds £l,OOO, 20
prem. ; ditto Bonds under £l,OOO, 19 prem.
In the Foreign Market prices are as follows :
Egyptian (1864), 92 to 93 ; ditto (1868), 79 to 791
ex div. ; Viceroy's Seven per Cents., 821 to 83 ; do.
Six per Cents., 971 to 98 ; Italian, 544 to 54 ;
Mexican, 12k to 13 ; Ptruvian, 781 to 781 ; Rus-
sian (1866), 92 to 93 ; Orel-Vitebsk, 81i to 821 ;
Uharkof, 801 to 81 ; Spanish, 291 to 291 ex div. ;
Turkish Five per Cents., 451 to 451 ex div. ; ditto
Six per Cents., 671 to 671 cx div., and the Hon-
duras Loan, 83 to 81 ex coupon.
In Railway Shares Metropolitan have risen -15„ and

London, Chatham, and Dover, Caledonian, and
Great Western, I each. Prices are now as fol-
lows :—Caledoniau, 811 to 821-; Great Eastern, 38
to 39 ; Great Northern, 107 to 108 ; Great North-
ern (A), 106} to 107 ; Great Western, 51f to 52 ;
Lancashire and Yorkshire, 125} to 1251 ; London
and Brighton, 461 to 47 ; London, Chatham, and
Dover, 17 to 174 ; London and North Western, 119
to 119 f ; London and South Western, 89 to 91 ;

Metropolitan, 1011 to 101 ; Midland, 188 to 1181;
North Eastern (Berwick), 107 to 108 ; and South
Eastern, 78 to 781.
American Five-Twenty Bonds are 81i to 821,
and Erie Shares, 19 to 191.
In Bank Shares Alliance are quoted 14/ to 151 ;
Anglo-Austrian, 19 to 20 prem. ; Chartered Mer-
cantile, 30 to 31 ; London and Westminster, 591 to
601; Oriental, 41 to 42 ; London Joint Stock, 31k
to 321 ; Union of London, 37 to 38.

In Miscellaneous Securities there is a rise in
Anglo-American, the price is now 224- to 22g.
Hudson's Bay is quiet at 12g to 13 ; and Interna-
tional Finance, 2 to 14 dis.
The accounts of the London, Brighton, and
South Coast Railway for the past half-year show
that, after providing for the payment of the interest
on all the preferential capital of the company to the
30th of June, there remains a balance of about
£4,000 to be carried forward to next half-year's ac-
count.

There were no gold operations at the Bank yester-
day. The amount sent in since the last weekly re-
turn has been £212,000.
The City of Paris has sailed from New York with
£35,000 for England.
The report of the Fore-street Warehouse Com-
pany (Limited), to be presented on the 20th inst.,
recommends a dividend at the rate of 10 per cent.
per annum.

Sir John Lubbock, the honorary secretary of the
Committee of London Bankers, has issued a pro.
Posal in a short pamphlet to extend the system
Pursued by her Majesty's Civil Service Commis-
sioners to candidates for commercial appointments.
He suggests that bankers, merchants, and directors
of public companies should agree to the organisa-
tion of a Board of Examiners, whose duty it would
be to ascertain that the candidates for employment
as clerks were within the required limits of age,
and that they were not disqualified by physical
defects or by want of character or of proper abili-
ties.

It is understood that the arrangements which
have been for some time in progress for still fur-
ther improving our telegraphic communication with
India by means of a continuous submarine line be-
tween England and Egypt, entirely under English
Control, are almost completed, and that the pro-
spectus of a company to be formed for this purpose
will shortly be issued. It is intended to lay a cable
from Falmouth to Gibraltar, and thence to Malta,
to connect with the Anglo-Mediterranean Coln-
Pany's system, thus completing the European sec-
tion of the proposed direct submarine line between
England and Bombay ; so that Indian messages
'nay be transmitted by a route altogether indepen-
dent of the Continental wires. The scheme will be
supported by a combination similar to that which
brought out the British Indian Submarine Com-
pany some months ago ; and the directors will in-
elude representatives from the British Indian and
the A.nglo-Mediterranean boards.
The ship Reigate, from Melbourne for London,
With X 56,500 in gold, which has now been at sea
144 days, was spoken with on the 21st ult. by the
Jerusalem, the arrival of which from the same port
Ras announced some days ago.
The wheat market has become inactive, but prices
Were maintained.
It has been officially announced that the London,
-uriahton, and South-Coast Railway Company will
12aY the interest on all their preference stocks, and
tarry over £4,000. The original stock, which will
hu.t obtain any dividend, was favourably affected by
3 notification, and rose 1i per cent., closing at
461 to
4t a meeting of the proprietors of the Union
allk of London a dividend at the rate of 15 per
ant• per annum, and a bonus of 2i per cent. per
tun were declared.
11041_,11 extraordinary general meeting of the share-
"re of the London and Brazilian Bank
c~ituited) \
is convened for the 20th inst., " to re-
oje the directors' report, and the audited ac-
tlts for the half-year ending the 31st March,

ji—'t the meeting of the Palace and Burlington
b etels Company a dividend at the rate of 6, and a
°4llB at the rate of 4 per cent. were declared.
personstuli who style themselves bankers at Vienna
ti Pursue the practice of sending tickets for the
thgeraulld Austrian State loan distribution," in which
in,aillee of the parties addressed are formally
ient'ed, a remittance of £5 being at the same time
be active
Messrs. " Voelcker and Co." appear to
aetive in the business.
to ,her
eport of the Cape Copper Mining Company,
retu presented on the 30th inst., states that the
Derrns of Ookiep are equal to 444 tons of fine cop-
in
the excess of those of the previous year, while
set:l lining cost is reduced by £2,345, and the re-
pave been been materially increased.

BRITIaII FUNDS—TWO VULOOK.

_ _ _ __
um,
a - .P,RNMENT FuND2.,. Pe.tent. Consols ...
Dg
931
8 per fur Account, July 7
93 2/
„Uent. Reduced
921 3
iievcr 0 per ()but
1:71 Per Cent. Jan. 1894
k °' Per Can ..• 1)1.1873
°,,utlities, 80 s, expire sth Jan., 1880 —
Dol-'O. for 80 yYrsr expire sth April 1885" —
ut,a Bill
p), Aug., 1908 —
pm
4414equar Xl,OOO, 21p. ut-
ps X1.3 Do. 3 do. June March
___
4111> £lOO, 4200 14 £5OO --
1)' of England Stock, 4/ per Cent . 2_43
C'it:;, °Pening
111 t "l 4 per Cent. Bonds
erColuaial Uninitun
Iti.pl'4)lArs dOVE.II.NMENT bECURIT!..hb. 4L.';'toek 101 per Cent., April 1874... 207+
_
for Account
1111 1
60. Bening,per Cent. July, 1880
100
D° 4 Per Cent„ Oct. 1888
_
„(0; C:ertiticates
.
',-:),.,. Lufaced leapt% pf•r C',llt • 2
Do" .!
Per Cert., Jan. 18./2 . „
0 Qi per ()cut. May 1879 3 6 per—
Y.)O Cont., Rup. Deb. 187
2
do 1877 —
tI) do. 188
f.•Do
„ ijo.l), 5 per Ceut., Aug. 1873
—0
b pm
uncis, 4 er Cont., £l,OOO
2
°• Under £IP.OOO
It3rtlikstin:l36ll,lll6ldniB
FOREIGN' FUNDS— TWO O'CLOCIL.
Aro .
811
bloiei,,Se,rcernCterit
lima.. l-)e. 1859
per Cent
13 • q Per Cent. 1852 ..._.
°' do 1858 _
be. u
_
110, `'. 186, .
..._
b‘s. do., 1863 b'-'
.6 per Cent., 1865 _
1. u Aceouut
8.1. i 3
Zilos Ayres 6 per Cent.
Nil 2a Per Dent. (Deferred 8 per Cent ) --
'-' " NZ 0014. tottimpittimitowntim" ..--.-