The Sun.
London, England, 1869-04-17 00:00:00

XONEY- MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLooK.
There was very little business doing to-day, and
a feeling of dullness prevailed. Consols, however,
Maintained their yesterday's quotations, but foreign
stocks in some instances had to give way. In Rail-
Ways there was a fall in the Midland. The rate of
discount in the market is about 34.
counton ,
Csols are 93 * for money; ditto, for Ac-
-938 ;
New Three per Cent. Reduced, 911 ;
Tlaree per Cents, 914 ; Exchequer Bills
£l,OOO, 3 6 prem. ; ditto £lOO, £2OO, and £5OO,
7 prem. ; Bank of England Stock, 4 per Cent.,
241,
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, 1141 14 ; ditto 4 per
Cent., Oct., 1888, 100 1 ; ditto Enfaced Paper,
5 Per Cent., Jan., 18725106 ; ditto Bonds £l,OOO,
11 10 prem.
In the railway market there has b: en a decline of
in Midland, viz., to 1141 to Metropolitan is +
lower, at 1021 to 1031. London and North Westerr,
115+ Loth ; Great Western, 49a to -V, London
and So Western, 88+ to 89 ; Great Eastern,
871 to 1 ; Brighton, 474 to 48 ; South Eastern, 761
t 0,771 .
Great Northern, 107 to 108 ; ditto A, 109
; Caledonian, 78/ to 79, ex div. ; and London,
Chatham and Dover, 17 to f.
In the Foreign Market there has been a de-
cline of
of 1867 in Egyptian
of 1868 and Spanish
namely, to 76+ to and 30+ to re-
pectively. Brazilian of 1865, 80 to ; Chillian
of 1867,
95f to 96+ ; Egyptian of 1864, 86 to
toex div. ; Italian of 1861, 55 to ; 1868, 84
; Mexican, 154 to 1 ; Peruvian of 1865, 781 to
1; Russian of 1866, 90 to 91, ex div. ; Nicolai, 65
to i; Orel, 811 to 82 ; Moscow 781 to 79.
American 5-20 Bonds are at 81+ to ; Erie
Itailway 234 244-; Illinois Central, 96+ 97 ; At-
lantic and Great Western Debentures, 30 to 31 ;
and the Consolidated Mortgage Bonds, 28 to 29+.
The sum of £lO,OOO in gold was taken to the
Bank yesterday.
The Ascalon, from Sydney, has brought £29,000,
and the Pera, from Alexandria, £2,295.
Although the reserve of notes at the Bank of
England is only about 31 per cent. of the liabilities,
the aggregate reserve of notes and coin is about 35
per cent. This is not actually below a normal
amount, but it is a point whence a reduction could
not prudently be permitted.
It is said that Daoud Pasha, the Turkish Minis-
ter of Public Works, who is engaged on a Financial
Mission to Europe with regard to projected Turkish
railways and to the claims of those already in ex-
istence, proposes to complete in this capital the ne-
gotiations he has hitherto carried on in Vienna and
Paris.
Advices from Bradford report two or three addi-
tional failures for moderate amounts in the wool
trade.

It is understood that in the cases of Messrs. Hall
d Webster, wool brokers, of Coleman-street, and
°I Mr. M. Benjamin, Cape merchant, of Jewry-
street,
a composition of 103. in the pound on both
estates has been accepted by the creditors.
Negotiations are still proceeding between the
North British and Caledonian Railway Companies
,for the amicable settlement of the differences which
'nave arisen between these companies as to the in-
terpretation of the joint purse agreement. The
Caledonian Company have, as a matter of form,
lodged answers in the interdict case, but as the
dividends have now been paid it is not probable
that the North British Company will proceed with
their note of suspension and interdict. If both
Companies do not agree to leave the question to be
settled by the arbiter under the joint puree agree-
went, the North British Company will probably re-
quire to raise it in another form, by making a claim
of debt against the Caledonian Company.
At the Open Stock Exchange (Limited), yester-
day, Alhambra Company (Limitei), fully paid,
sold at £9 7s. per share ; Guildhall Taverns Com-
pany (Limited), fully paid, £2 to £2 3s. 9J. per
share ; New City Club Company (Limited), fully
paid, 50s. per share ; and Star and Garter 'Hotel
Company (Limited), fully paid, 7s. per share.
Including the Russian Loan just intrcduced, it
may be estimated that the demands contemplated
by foreign borrowers during the spring and sum-
mer amount to not lets than fifty millions ster-
ling, irrespective of any additional influx of
United States Bonds or other American securi-
ties. Spain, Portugal, Italy, and Turkey have
respectively completed or initiated negotiations fur
the purpose, and Brazil would doubtless be glad to
do so, although, owing to the circumstance that her
home credit is better than that of most other coun-
tries, she is not actually compelled to seek assist-
ance regardless of terms. The Italian Loan will
be based on the ecclesiastical properties, and the
wants of Turkey are professedly for railways. This
list, it may be inferred, will be considered sufficiently
serious to check the hopes of any other nation that
reay'entertain desires not yet signified, and also to
beget
a spirit of prudence among our mercantile and
investing classes. At the same time there are fea-
tures of the matter to mitigate positive uneasiness.
The loans in question will not be confined to Lon-
don, but will be spread over the European markets.
great portion of the •money required is to pay
debts maturing here and at Paris, and another large
portion will find its way back to us for the execution
of orders that will leave a profit. Gradually also
the stocks negotiated in the principal centres are
c:o considerable extent drawn from those centres
DY small native investors. Under these circum-
stances there is no ground for alarm, provided we
have an ordinary course of peace and prosperity,
and the leading firms of the country see fit to re-
cognise the fact that the moment for ceasing to com-
pete for the privilege of bringing fresh proposals has
AOw arrived,

BRITISH FUNDS-CLOSING PRICES.

UOVERNMENT FUNDS.
g per Cent. Consols ........................... 93
Ditto for Account .
BNepwer3Cepnetr.
uent Reduced ..................................................
New 21 per Cent. Jan. .................
911
Do. 5 per Con an. 1873 ...............
Annuities, 80 expire sth . --
Do. for 80 yrs,Seas,
eeitpire sth April 1885...
Do (Red
Exchequer Bills, Zl6,ur2he Aug., 1908... ___
Do £5OO per Ct. ...... 6 3
Do. £lOO . ZOii .p............... 2 7 Pin
Bank of England Stock,i4t
e .....at... 2 7
r D. opening ............... . ...........
Canada 4 per Cent. Bonds 241
Inter-Colonial Uranium.....................
INDIAN UOTERNMENT SECURITIES.
India Stock, 10i per Cent., April 1874
Do. Opening, for Account
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates
Do. Enfaced Pape. 4 per
Do. 5 per Cent., Jan. 1872. ~„,„ lO6
Do. 5i per Cent. May 1879
Da 5 per Cent., Rup. Deb. 1872 —

rOREIGN FUNDS—CLOSING PRICES.
Arzentine Republic, 6 per Cent
•
D0.£45 paid ..
lititrian Bonds 5 per cent
66
Brazilian 50. 1859 per Cent
Du. D4i per Cent. 1852 —
Do. do. 1858.....
bo
bo. do. 186 )
71
do e
D 186
~
o. 5 per Cent., 1865 3 _o D Account 8
Do.
1864 —
Do.
BGi i
A.ccount
EigiFic,ll(ll)°°S3l7lln:di, :1868 —
671
Governircal 761
(Rs
Greek 5 per Ceslit.4lil72
do. z,z-15 pd —
4ftys,Doembuottilipress .
__
Do. Account '
000000000000000 I • ...
jO. 0011rOne ********************* • . .
Do. Account .....................
Guatemala b " 70 1
per ...,ent. ..
Honduras Gov Rail. Loan , 10p. 4, all pd 82
lt3lian 5 per relit , 1865.
.30. Account •
, .................
Do Mareniniaria Railway
Mexican 3 per Cent
Ditto for Account
Dn. 1864
MooslDo 6 Per Cent. Anglo-Froucb...
onterau 6.per Cent. ......... .. ......
Newrish Imperial 5 per Cent
DoGranada
3 per Coni, ........ . ...................
Do. Deferred Peruvian 5 per dent....... 1865 ...... •
Do Account- '
-