The Sun.
London, England, 1869-01-02 00:00:00

DIOZIE

MARNE

AND

COYDIERCIAL

CITY, Two o'CLoca

The Frankfort advices confirm the statement
telegraphed a day or two back, that the concession
for the Moscow-Smolensk Railway to'Sulzbach
Brothers had been sanctioned by the Emperor, with
the condition that no preference shares or bonds
shall be issued before 1870. With regard to the
ordinary shares, which amount only to five million
roubles (about £830,000), it appears that the whole
have been allotted at Frankfort and St. Petersburg
to parties who are bound to deposit them for 18
months in the hands of the committee, so that they
cannot dispose of them individually or privately.
The markets will, therefore, be free from these se-
curities for a considerable time.
In the colonial produce markets this week the
transactions have been restricted by the holidays.
Sugar attracts some attention. A few floating car-
goes of foreign have been taken for the United
Kingdom. Low brown descriptions have been
steady. The coffee market is firm. An inquiry
prevails for the lower qualities of white Bengal rice.
Saltpetre is quiet. White pepper has advanced
slightly, the stock being chiefly held by speculators.
In the tea market there is dullness, and the business
has been limited. Cotton shows some further re-
covery.
Messrs. R. W. Benson and Co., the London
agents of the Illinois Central Railway Company,
have received instructions to notify that the pro-
posal to issue sterling redemption bonds in exchange
for the 6 per Cent. Construction Bonds will remain
in force till the Ist of April next, when the Con-
struction Bonds thus received must be stamped
" surrendered," and transmitted to the treasurer at
New York.
The section of shareholders of the Credit Foncier
of England (Limited), who have acted as a com-
mittee in urging certain views with regard to the
management of the company, have yesterday issued
a rejoinder to the recent circular with regard to
them, issued under the signature of three of the
directors, preparatory to the general meeting to be
held on the 6th inst.

The chairman of the Committee of Shareholders
in England of the Kumaon Iron Works Company
(Limited) has requested a meeting to be held on
Tuesday, the sth inst., at 27, Great George street,
Westminster, to take into consideration the forma-
tion of a board of directors in London and other
matters.

The half-yearly report of the Palace and Bur-
lington Hotels Conipany (Limited) to be presented
on the 12th inst. shows an available total of £5,327,
including a previous balance of £1,599, and re-
commends a dividend at the rate of 6 per cent. per
annum, together with a bonus at the rate of 4 per
cent. per annum, which will leave £7BB to be car-
ried forward.

The Lombard Exchange and News-room, a capa-
cious and well-arranged establishment, with all the
conveniences of a commercial club, was opened yes-
terday. It has already more than 1,000 subscribers,
including several of the leading firms, and the
metal trade held change there this afternoon at 3.30,
in lieu of at the Royal Exchange-- an alteration
they propose to continue.
The following relates to the debt of Venezuela :
" Consulate of the United States of Venezuela,
35, King-street, E.G., Dec. 31.
" Sir,--I have received advices from my Govern-
ment relative to the advertisement inserted in
the London Gazette of the 30th of October last re-
specting British claims against the Republic of
Venezuela, and am instructed to inform claimants
that the mixed commission now in session at Caracas
for their adjustment have nothing to do with the
arrangement of the bonds issued in this country.
With reference to the foreign debt of Venezuela,
the Government is now occupied in effecting a set-
tlement of the same under favourable conditions
for its due and faithful fulfilment by the Treasury.
—I am, sir, your obedient servant,
" FRAS. L. DAVIS, Consul." e
Na
The annual meeting of the proprietors of th-
tional Bank will be held on the 26th inst.
Special
meetings are also convened for the same day and
the 27th, to consider a recommendation of some of
the shareholders in favour of a general meeting
being held in July in each year in addition to the
annual meeting in January, and of the repeal of
such portions of the clauses and provisions contained
in the deed of settlement as authorise the appoint-
zsent of managing director.
The half-yearly general meeting of the share-
holders of the Consolidated Bank (Limited) will b e
held at the City Terminus Hotel, Canou-street, on
the 14th inst., when the report will be presented
and a dividend declared.

BRITISH FUNDS—CLOSING PRICES.
GOTERNMENT .FUNDS.;
3 per Cent. Consols ........................... 92i xd
i I
3 per Cent. Reduce
Ditto for Account, .....d
......
924
924 4
New 3 per Cent
........................... 924 4 i
New 24 per Cent. Jan.
1894 ............... -'De. • per Cent. ',an. 1873 —
Aunuities, SO yrs, expire sth Jan.,. 1880.
Do. for SO yrs, expire sth April 1885
Do (Red Sea Televaph), Aug., 1903
Exchequer Bills .Cl,OO, 2 per Ct —
Pm
De. k5OO —
De.
£llO k .£2OO —
Ptu
Bank of %had Stock, 4 per Cent 2414
D. accetrat —
lit Canada 4 per Cent. Bonds .......
er- per
Uniniunt —.
INDIAN UOVEENDIENT SECITItI . I.Et.
India s'tock, 104 per Cent., Aprl 1874
Do. Opening, for Account
Do. 5 per Cent. July, 1830
112 4
DDo. 4 per Cent., Oct. usa ............
o. Certificates
Do. Enfaced Papez 4 per Cant 9l/
Do. 5 per Cent., Jan. 1874 . .....
Do. 54 per Csut. May 1879 lo9} i
D 3 5 per Cent., Rup. Deb. 1872 --
De. do. 1377
Do. do. 1882 ......... __
D... Deb., 5 per Cent., Aug. 1870 .„,
Do. Bonds, 4 per Cent., £l,OOO
Pm
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent ... .
Do., Scrip #45 paid .. -
Au itrian Bonds 5 per coat
o.
.I.
Brazilian D 5 per Cents 9
03. 44 per Cent., 1852
o. do. 1858.... ............
DDo. do., 1863
Do. 5 per Cent., 1865
o Account
B .enos Ayres 6 per Cent.
CDo 2 per Cent. (Deferred 3 per Cent.)
Cu*,a, 6 per Cent.
....dian 6 per Cent ................ o
00. 41 per Cent.... ........... o ............ 72
Do. 3 per Cent.,
..... ...................... .
o. 6 per ce.A.. 1867 .....................
o. 7 per Cent., 1866 .. .................. .. --

Consols are 92f for money ; ditto, for Ac-
count, 92f ; Three per Cent. Reduced, 92f ; New
Three per Cents, 92i f i; Bank of England Stock,
4 per Cent., 241 k.
India Stock, 10} per Cent., April, 1874, shut;
ditto 5 per Cent., July, 1880, 112 4 ; ditto En-
Enfaced Paper 4 per Cent., 914 ; ditto Bonds
£l,OOO, 20 prem.
The Stock and Share Markets opened without
any material alteration, but the tone was good.
Foreign Bands show strength, and, for SzAur-
day, there is a large business being transacted,
the pacific aspect of the Emperor's Speech induc-
ing purchases. Turkish of 1865 are 3-16th better,
the Six per Cents. of the same date 4, Russian Orel
Bonds I, Peruvian Italian of 1861
are good, at 531 to 534 ; Nicolai Bonds, 654 to
654.

In Railways not much doing. Caledonian, 751
to 76 ; Great Eastern, 401 to 404 ; Gre. Northern,
106 to 107 ; Great Northern A Stock, 107 k to
108; Great Western, 474 to 48f.
Bank Shares are for the most part unchanged.
Chartered of China, 20f to 21 ; Chartered Mercan-
tile, 29f to 30 ex div. ; Consolidated, to prem. ;
London and County, 49i to 50k.
Miscellaneous Shares are quiet, as follows :
Anglo-American, 211 to 21i ; the Eight per Cent.
P reference, 3 9-16 to 3 11-16 ; Credit Foncier,
to 2f ; Hudson's Bay, 13f to 1311 ; Telegraph Con-
struction, 161 to 16k.
There is very little alteration in the market for
American Securities this morning, and business is
dull.