The Sun.
London, England, 1869-05-06 00:00:00

il-o-NEY MARKET

AND
CO:OIERCIAL INTELLIGENCE.

CITY, Two o'CLoci.c.
RISE IN THE BANK LUTE 01' DISCOUNT.
The Bank of England has raised the rate of dis-
ecunt 4 per cent., the official minimum being now
44 Per cent. The previous change was made on
the Ist of April, the rate of 4 per cent. having thus
only continued five weeks.
Consols are 93e 3 4 3 for money; ditto, for Ac-
count, 93.4 ; Three per Cent. Reduced, 914 1 ;
New T's.ree per Cents, 914 1 ; ditto 24 per Cent.,
751 6 ; Exchequer Bills £l,OOO, par; ditto £lOO,
£2OO, and /500, par; Bank of England Stock, 4
Per Cent., 242.
India Stock, 104 per Cent., April, 1871, 211 ;
ditto 5 per Cent., July, 1880, 1041 s ; ditto 4 per
Cent., Oct., 1888, 100 - ; ditto Enfaced Paper,
5 Per Cent., 1054.
tin the Foreie,m Market Brazilian are quoted
79.1 to 79:`,' ; Chilian (1867), 961 to 9;"1 ;
PlYptian (1864), 86 to 86y; ditto Railway Deben-
tures) 981 to 98/ ; ditto (1808) 75 to 75;- ; Viceroy's
Seven per Cents., 80 to 804 ; ditto Nine per Cents.,
97$ to 971 ; Italian, 564 to 56:1 ; Tobacco Loan,
854 to 861 ; Peruvian, 77 to 771 ; Portuguese, 34
to 31.1 4
Russian (1832), 831 to 844 ; Orel and
Vitebsk, 77/ to 784 ; Nicolas, 631 to 6t ; Moscow
Jaroslaw Loan, 79 to 794 ; Charkof, 761 to 77 ;
Spanish, 281 to 284 ; Turkish Five per Cents.,
421 to 424; ditto Six per Cents., 66$ to 665.
Iu the Railway Market there has been a fall.
Great Eastern, 371 to 371; Great Northern (A),
108 to 1081 ; London and Brighton, 471 to 471 ;
London„ Chatham and Dover, 17$ 17$ ; London
and North Western, at 115 to 1154 ; Metropoli-
tan, 1021 to 102 i. Caledonian is unaltered, at
771 to 784 ; Great Western, 484 to 494 ; Lanca-
shire and Yorkshire, 123 to 1234 ; Midland, 113
to
; and South Eastern; 75$ to 755.
American Bonds are 794 to 804 ; Erie, 191 to
20 ; Illinois, 98 to 981 ; and Atlantic Bonds, 244
to 254.
In Bank Shares there has been a fall of 4- in Lon-
don and Westminster, the price being 62 to 63.
Agra is quoted at 104 to 101. ; Alliance, 131 to 131 ;
Anglo-Austrian, 18 to 19 ; Chartered Mercantile,
801 to 311; Consolidated, 43. to 44 ; London and
County, 191 to 501 ; aLd London Joint Stock,
314. to 321.
There were no gold operations at the Bank yes-
terday. The only transaction during the week
since the date of the last return has been a with-
drawal of £50,000.
The Donald M'Kay, from Melbourne, has brought
£54,000.
The Board of the Caledonian Railway Company
have issued a reply to the recent statement of the
North British Company regarding the joint purse
agreement between the two companies. They offer
what purport to be specific replies to the several
charges against them, and conclude by asserting
that these replies will satisfy the shareholders that
the termination of the agreement is not, as alleged
in the North British statement, the act of the Cale-
donian Board, but that the North British directors
are alone responsible for it. In these circumstances,
before the two companies get imito a hopeless quarrel
to the damage of the shareholders' property, would
it not be well for the respective boards to ascertain
whether the breaking off of the agreement is desired
or intended on either side ? Both parties seem to
regard the event as an evil, and they bandy back-
ward and forward the responsibility of having
caused it.
The Mexican Bondholders' Committee have issued
a report of their proceedings from March, 1868,
the date of their appointment. It states that Mr.
E. J. Perry, a British merchant in Mexico, has
been charged to represent their interests, he having
consented to do so without any claim for remunera-
tion, except in the event of his efforts resulting in
a settlement. The Mexican Government promi,ed
to furnish Mr. Perry with a proposal by the end of
November last, but wholly neglected to do so, and
in January communicated to him their determina-
tion to rob the bondholders of their rights, on the
pretext that they had recognised the Emperor Maxi-
milian, and had conformed to certain arrangements
at his hands. Uhler the circumstances the Com-
mittee propose shortly to convene a public meeting
to take the opinion. of their constituents as to the
course to be pursued. At that meeting the Commit-
tee will submit a form of memorial for presentation
to the British Foreign Office.
Alderman Sir Sydney H. Waterlow, the chair-
man of the Improved Industrial Dwellings Com-
pany (Limited), has issued a circular stating that
it is proposed, with the view to close the capital
account, to restrict the share capital, which now
amounts to £106,750, to a total of £125,000, and
that as a similar sum may he borrowed from the
Government under the operation of the Labouring,
Classes' Dwellings Act, 1866, the aggregate capital
will then be a quarter of a million sterling. The
Principal object is to remove the prevalent disbelief
In the profitableness of such undertakings. This can
:°est be done by showing that a large sum of money
has been invested in providing decent and comfort-
able homes for workmen in various parts of London
at an average annual profit of at least 5 or 6 per
cent. ; and although the profit of each separate in-
vestment can already be shown by a comparison of
the net rental with the cost, general results will be
lst effectively and conclusively established by the
closing of the capital account of the present com-
p.TY, and by the publication of balance sheets
exhibiting the details of a series of investments upon
a large scale. The share capital of £18,250 still
unallotted is offered preferentially to shareholders
who may desire to increase their present holdings,
Provided
the applications are sent in during the
Present month.
The submarine telegraph cable between Den-
and Liebau (Russia) has been successfully
ivu.m.pleted by Mr. W. T. Henley, of North Wool-
• The total length is about 300 nautical miles
t"o
Bornholm,
sections, one being from the island of Moen
and the other from that place to
-h_ Lieban. The former section was completed last
eember but the weather prevented the steamer
La'i e
Plata, which bad both sections on board, from
atte
A .napting to lay the latter till the present time.
laid between
section of the same system of cables to be
41ci between Scotland and Norway is near comple-
tionat Mr. Henley's works, and will be laid this
month, weather permitting.
The biddings for £350,000 in bills on India were
held Yesterday at the Bank of England, when the
',Mounts allotted were—to Calcutta, £335,000 ; and
to Madras, £14,100. The minimum price was fixed
at
's' lid. on both presidencies. Tenders on both
Presidencies at ls. 114 d. will receive about 20 per
eent• ; those above that price in full.
Te 0 The report of the Scottish Australian Mining
itrn3, PanY (Limited), to be presented on the 14th
''e: shows an available total of £7,385, and re-
commends a dividend at the rate of 8 per cent. per
annum, which will leave £2,25% to be carried for-
Ward.

The report of the Trust and Agency Company of
Australasia (limited), to be submitted on Monday
ilext, shows an available balance of £20,466. After
adding £lO,OOO to reserve fund, the directors re-
commend the usual dividend and bonus of 3s. per,
;2/hare, making with the interim dividend, a distri-
bution of 20 per cent. for the year. The sum of
£2,966 will remain to be carried forward. The re-
serve fund is now £50,000, of which £40,000 is
invested in Conso;s.
A. t the annual meeting of the Sovereign Life-
°time yesterday the report stated that the new pre-
nuurns received last year amounted to £9,469,
assuring £300,830.
The report cf the Scottish Imperial Insurance
Company for the year ended the 31st of December
last shows that the fire revenue was £19,826, while
the losses were £7,987, and that life assurances were
completed for £141,825, producing annual pre-
-411:11113 of £3,962.

FOREIGN FUNDS—CLOSING PRICES.
OVEE.N.MILNT
3 per Cent. C0n6013
Ditto for Account,
93t
3 per 3 (Jent. Iteduced ;44a
No W per Cent