The Sun.
London, England, 1869-12-03 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.

Business on the Stock Exchange to-day was
brisker than yesterday, and although we have not
to note a change in the price of Consols, yet they
were firmer than at the closing yesterday. In
Foreign securities and Railway shares there was an
improved business, although no very great rise in
prices have to be noted.
Consols are now at 921 to 921 for money ;
ditto, for Account, 928 ; Three per Cent. Re-
duced, 92f ; New Three per Cents, 92 1;
Exchequer Bills £l,OOO, March, par ; June,
2 7 prem. ; ditto £lOO, £2OO, and £5OO, March,
4 prem. ; June, prem. ; Bank of England Stock,
44 per Cent., 238.
India Stock, 10i per Cent., April, 1874, 214 ;
ditto 5 per Cent., July, 1880, 112} 1 ; ditto 4
per Cent., Oct., 1888, 1001 ; ditto Enfaced Paper,
4 per Cent., 914 ; ditto Bonds under £l,OOO, 24
prem.

In Bank Shares London Westminster are 58k
to 59i ; London and County, 48 to 49 ; London
Joint-Stock, at 32 to 33 ; Union of London, 37i- to
38} ; Chartered Mercantile, 30k to 31i ; Anglo-
Austrian, 10 to 12 prem. ; Alliance, 12k to 13* ;
Agra (A), 10} to 11.
In Telegraph Shares French Cable is 15 to 15i ;
Anglo-American, 194 to 20; and Construction and
Maintenance, 311 to 31f.

In Miscellaneous Securities there has been a de-
cline of f in Hudson's Bay, the price being now 121
to 121. General Credit is quiet at 11 to 1 dis. ; In-
ternational Finance, 2} to dis. ; and National
Discount, 11 to 111.
In the Foreign Market the prices are better.
Argentine are marked 841 to 851 ; Egyptian
(1864), 77 to 771 ; Italian, 534 to 54f ; Mexican,
134 to 131 ; Peruvian, 831 to 84f ; Spanish, 261
to 27 ; Turkish, 43f to 43; ; and the Six per Cents.,
651 to 664.
American Five-Twenty Bonds are steady, at
841 to 85 ; the 1865 Bonds, 83f to 831 ; the 1867
Bonds, 851- to 85f ; and the Ten-Forties, 80f to
801. Illinois are 99; ; and Erie, 20/.
In the Railway Market prices are better. Great
Westerns are 55} to 551 ; Brighton, 45i to 451;
Caledonian, 78; to 791 ; Great Eastern, 361 to 361 ;
Great Northern, 1064 to 107 f ; ditto A, 107* to
108} ; Metropolitan, 82; to 82} ; Berwick, 1191 to
1191 ; and South-Eastern, 76f to 77.
At Mark-lane to-day the attendance was fair,
with a steady but not active inquiry. English
wheat, of which supplies were slight, brought the
the full term of Monday last. For foreign wheat
which was in large supply, rather more money was
asked, but was not freely paid, and the business
done was chiefly at fully the recent improvement.
Flour ruled firm for both sacks and barrels.

There were no gold operations at the Bank yes-
terday.
The Atrato, from the West Indies, has brought
£69,765 in gold, and £73,401 in silver.

A limited amount of Mexican dollars has been
sold for China at 590., showing an advance of Id.
The arrivals of late years have been so small that
these coins are very scarce. Bar silver is firm at
600.--a fractional advance on the last price, but
there is very little offering.
The subscription for the £2,500,000 Metropolitan
Consolidated 3} per Cent., at the price of 94f, has
been completed, the B.tnk of England having taken
up the outstanding balance. The falling due of the
first instalment seems to have led to sacrifices on
the part of some small subscribers, who parted with
their allotments to dealers in the Stock Exchange
ate discount at the time when the full price was
being given at the Bank by applicants to the extent
of £200,000 or £300,000. The Stock Exchange
quotation is now 94 to 95.
At a meeting of creditors of Messrs. W. Haigh
and Co., manufacturers of Low Moor, a composi-
tion of 12s. 6d. in the pound, payable in instal-
ments, was accepted.
At a meeting of creditors of Mr. Wm. Penny,
gold thread and cotton heald yarn manufacturer,
of Preston, the liabilities were stated at £8,991.
The estate is to be wound up under a deed of as-
signment.
Messrs. Alexander Devaux and Co. have invited
subscriptions for £435,520 in bonds of the Bucharest
and Giurgevo (Danubian) State Railway. Ihe
which is about 40 miles in length, from Bucharest
to the Danube, is fully completed, and is now the
property of the Government. The bonds bear 7
per cent. interest, and are to be issued at the price
of 90, which is reduced by delay in the instalments
to £BB 16s. 61, and, as they are to be paid off at par
in seven years by semi-annual drawings, they will
yield an average rate of interest exceeding 101 per
cent. per annum. The State is answerable for the
payment of the interest and principal, in addition
to which the bonds are to carry a first mortgage on
the railway, and also a lien on the gross revenues
of the salt mines of the United Principalities.
The advices from Frankfort state that the new
Turkish railway lottery loan has now a para-
mount influence on the Continental Bourses, and
that prices of speculative stocks go up or down
according to probability of success or failure.
The loan is to consist of 1,980,000 bonds of 400 f.
nominal value, bearing 3 per cent. interest, and an
appropriation of 4,240,000 f. every year for reim-
bursement and prizes. If this enormous mass of
bonds, it is remarked, is not taken at Paris, it will
be difficult to conceive where the promoters look for
customers. "In Germany there never was any sym-
pathy for Turkish loans, and only small sums,
changing hands whenever there was a profit to be
realized, could be disposed of." The Porte, it ap-
pears, is only the guarantor of the loan, which is
issued by a building company, their being no rail-
way company nor any capital in shares. The sub-
scribers who find the money are to have no control
is the management. The price for subscription is
172 f. 50c., the bonds having been made over to a
combination of bankers at 155. The parties who
wish to start the loan support prices of speculative
stocks, so that the Bourses show animation, " but
the magnitude of the affair and the many risks it
iivolves render success problematical." The Frank-
fort Bank will pay this year 6 per cent. dividend,
and put 1 per cent. to the reserve fund, which will
be raised thereby to 17 per cent. of the capital of
the bank. An English company having subscribed
5,000,000 thalers for the construction of the Magde-
bourg-Lausitz Railway, it is now certain that the
project will be realised.

_ .
The return from the Bank of England for the
week ended the Ist of Dec. gives the following
results when compared with the previous week : -
Rest
PuLlic deposits
Other deposits 17,656,957 ... Decrease ... 111,757
On the other aide of the account :
Government securi- _ _

~vVM
ties £13,811,953 ... No change.
Other securities 16170,467 Increase ... 259,162
Notes unemployed 9,317,453 ... Decrease ... 417,210
The amount of notes in circulation is £23,187,985,
being an increase of £362,400 ; and the stock of
bullion in both departments is £18,528,231, showing
a decrease of £37,850 when compared with the
preceding return.

Subjoined is a comparison of the present position
of the Bank of England and the prices of Consols
and French Relates with the corresponding week o
last year :

At Present. Same Week
last Year.
Bullion
Reserve
Notes in circulation 23,187,985 ... 23,510,112
Rate of discount
Consols
_ .
_f 92i
_ .

French Relates

ilf. 7-oc.

The following is the official return of the cheques
and bills cleared in the Banker& Clearing-house for

the week ending Wednesday, Dec. 1 :
Thursday £9 164, 000

Friday -

9,520,000

Saturday 11,787,000
_ _

Monday

8 523 000

Tuesday
Wednesday 14,299,000

£77,317,000

BEITIIIII FIiNDS—TWQ iVOLOCK.
UOVERNMENT FUNDS.
per Cent. Consols