The Sun.
London, England, 1869-06-01 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
Coneols advanced 3 to-day, at 94 1 31 for money;
ditto, for Acestint, 991 2 ; Three per Cent. Re-
duced, 921 1 ; New Te.ree per Cents, 921 11 ; Ex-
chequer Bills £l,OOO, 2 dis. ; ditto £lOO, £2OO, and
£5OO, 5 dis. ; Bank of England Stock, 4 per
Cent.,
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, 1141 15 ; ditto 4 per
Cent., Oct., 1888, 1001; ditto Enlaced Paper, 4
per Cent., 92 ; ditto 5 per Cent., ; ditto
Bonds under £1,0(}0,
1 here are no particular changes in the Foreign
Stock Market, as c. ml aced with the unofficial
close last evening. Egyptian are in demand, but for
Rua ian there is less inquiry. The prices current
ale as follows :—Brazilian, 801 to 811 ; Egyptian,
1864, 861 to 871; ditto 1868, 771 to 771; Viceroy's
Seven per Cents., 801 to 811 ; ditto Nine per
Cents., 931 to 931 ; Italian, 561 to 561 ; Tobacco
Loan, 86 to 87 ; Peruvian, 791 to 791 ; Orel-
v ilebsk, 791 to 791 •; Nicolas, 631 to 641 ; Moscow,
77i to 781 ; Charkof, 771 to 771 ;•Spanish, 231 to
281; and Turkish Five per Cents., 4-1 to 441.
Unitel States Five-Twenty Bonds are a 1 better
at &he to 81. Erie Shares are 19, and Illinois 96.
Bank Shares are not in much request, and prices
generally are without change. Agra (A) shares are
Etln, at 101 to 101. Alliance is steady, at 13 to
14 ; Anglo-Austrian, 18 to 19 prem. ; Chartered
Mercantile, 31 to 32.
The dealings in Foreign Mining Shares are very
limited, and no particular change is marked in
prices. St. John del Rey is quoted at 151 to 151 ;
General Brazilian, 3-16 to 5-16 par; Chontales,
to 11.
Continental Railway Shares are without feature.
Great Luxemburg is quoted at 91 to 10 ; and Lom-
bardo-Venetian at 191 to 191.
A fair business is doing in English Railway Shares
and the general advance which occurred yesterday in
prices is well maintained. Metropolitan Extension
Shows a further improvement of 1, at 961 to
971 ; South-Eastern, 1, at 76 to 761; and London,
Chatham, and Dover 1, at 161 to 171. On the other
hand, a decline of 1 is marked in Caledonian, Great
Western, and Midland, the quotation being 761 to
774, 49 to 491, and 76 to 761 respectively. Great
Eastern is steady at 37/ to 38 ; Great Northern
(A), 1071 to 1081 ; Lancashire and Yorkshire, 123
to 1231 ; London and Brighton, 451 to 46; Lon-
don and North Western, 1171 to 118 ; and Metro-
politan, 993 to 100.
In Miscellaneous Securities business is very quiet,
and prices are not much altered. General Credit
is 1 lower, at 2 to 11 dis. ; International is steady,
at 2 to 11 dis. ; National Discount, 11 to 111.
lludson's Bay is inquired for at 121 to 121 ; and
Anglo-American Telegraph, 211 to 211. •
The stun of £113,000 in goki was taken to the
Bank yesterday.
The Essex, front Melbourne, has brought £80,0')0.
1 he Copernicus, for Brazil, has taken out .£lO,OOO.
Some expressions from the Chancellor of the Ex-
chequer on Thursday last seemed to create an ide
of a tendency to antagonism on the part of the Go-
vernment towards the Bank of England. He spoke
of taking an independent course by borrowing and
lending under plans not yet matured, designated
the Bank as a merely " private banking institu-
tion," and almost indicated that the power of that
establishment is attributable to a fancy on the part
of the mercleaets " to set up a sort of monarch over
them to whom they ply deference." Happily these
Phrases do not necessarily involve any intentions
materially to disturb the stats of existing relations.
Many people still imagine that the Bank enjoys
great privileges and derives especial advantages
from Government favour. The fact is, there is
no part of the national business transacted by the
Bank in which the terms of the contract are not
more in favour of the public than of the Rink—
the result being that whereas other joint-stock
banking establishments distribute dividends year
after year, ranging between 15 and 30 per cent.,
the Bank proprietors take only about 8 per cent.
It is trae they ate conscious of a stability in
these dividends, which is a compensation for their
relative smallness, while, on the other hand, the
Government get all the benefit allowed in consi-
deratiou for the dignity and steadiness of the
agecey thus conferred. Neither party could break
up the system without damage, and it is not to
be Supposed there is any thought of such a step.
It is stated that the scheme of arrangement be-
tween the shareholders and creditors of the Com-
mercial Bank Corporation of India and the East,
tinder which all litigation is to be stayed, and the
creditors are to accept 17s. in the pound in dis-
charge of their claims, has received the sanction of
the Master of the Rolls.
In Mincing-lane business has been upon a limited
scale in most articles, but several floating cargoes
of sugar have been sold for outports, and the
quarterly auctions of cinnamon have passed off
with fair spirit. The variations in prices have not
been important.
The South-Eastern Railway traffic return shows
this week a decrease of £1,375 compared with the
corresponding period of last year, and the Brighton
a decrease of £2,527. The corresponding.week of
lass year included Whit-Sunday.
The traffic return of the Great Western Railway
Of Canada, for the week ending the 28th instant,
shows an increase of £1,359 over last year.
At the meeting of the Trust and Loan Company
°r Upper Canada a dividend was declared for the
nalf-year at the rate of 8 per cent. per annum.
At a meeting of proprietors of the lonian Bank
the directors' report was agreed to. The net profit
for 1868 was £21,130, out of which two dividends
and bonuses, amounting to £17,736, have been
Paid- The reserve fund stands at £53,624.
The directors of the Britannia Fire Association
have announced that the whole of the second issue
of shares (10,000) have been allotted.
At the meeting of the Madras Irrigation and
anal Company the directors' report was adopted.
It mentioned that the operations of the company
in India have lately attained to a highly satisfac-
tory state, and that the whole of the works between
Seonkasala and Cuddapah are expected to be com-
Pleted between the time specified in the contract
with the Secretary of State in Council.
The General Court of the Royal Exchange As-
surance Corporation will be held on the 23d of June
" to consider of a dividend."
In connection with the affairs of the Grand
Trunk Railway of Canada, a circular, signed by
Mr. Albert Creak, of Brighton, and by about a
dozen other gentlemen, has been addressed to the
stock and bond holders, inviting them to combine,
with a view to bring about a change in the manage-
nient• Those interested are urged to attend the
meeting at the London Tavern on the Bth of
Juue,

BRITISH FUNDS—CLOSING PRICES*
GOVERNMENT FUNDS.
' Per Cent. Consols
. Ditto fur Account, July 7
'•,,Per Cent Reduced 921 1 I
.16,,,, 3 , 92i f i
per Cent
I\l''w 21 per Cent. Jan. 1894
A '''
0' per Oen Jau . 187 3
-••tluttitios, 30 yrs, expire sth Jan., 1881'.
DO. for 30 yrs, expire sth April 1885 - -
L.. 1-)0 (Red Sea Telei„raphl, A ug., 1908„,
.-zelicqn..)r Bills, £l,OOO, 21 & 3 per Ct.
O 3 £lOO, £2OO & £5OO —
13:111, k.oofpEennigulgan..d Stock, 91 per Cent
'
,)%-a la per Cent. Bon
4,01-Cu4 lun ial Onannunds
i INDIAN GOVERNMENT SECURITIES.
11ia TIOCk, 10i per Cent., April 1874 —
I'o. Opening, for Account '-
Do. 5 per Cont. July'1880
.15
Do. 1 pc,: Cent.. Oct. 18S8
Do. Cert i ticates
f-'O. Eufaced Pare. 4 per OtAit.. . •92
P,°
li ('ant.
5 per Cert., Jan. 1872 .... ~... —
g. 5i per nt. May 1879 —
''-'per Cent., Rup. Deb. 1872 —
Do do 1877 —
Do. do. 1882 —
D.,. Deb., 5 per Cent., Aug. 1873
Do. Bonds, 4 per Cent., £l,OOO
"0 under ..a.OOO
t ()REIGN FUNDS—CLOSING :PRICES.
41, Nentine Reptblic, t: per Cent
to Arian Itou,ls 5 per cent
Do. 1859 • -