The Sun.
London, England, 1869-09-10 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CIUY, Two O'CLOCK.
The changes in the Bank return are in smie cases
Important, but its position is quite as strong as
last week, notwithstanding the decrease in the bill
lion and reserve. The rate of discount remain un-
altered.

Consols show a rase, at 92i to 92i for money ;
ditto, for .iskc2ount, —; Three per Cent. Re-
duced, 911 aa ; New 'flrec per Cents, 91 ;
Exchequer Bills £l,OOO, March, prem. ; June, 10
prem. ; ditto £lOO, £2OO, and £5OO, March, 2
Prem. ; June, 6 prem. ; Bank of England Stock,
4 per Cent., 243 41.
India Stock, 101 per Cent., April, 1874, 211 ;
ditto 5 per Cent., July, 1880, 1141 ; ditto
,l
per ('eat., Oct., 1888, 99 ; ditto Enfactd
Paper, si. per Cent., 1101.
Without exhibiting much fresh feature, the
Foreign Market is steady, and prices are rather
higher. Egyptian (1864) Bonds are quoted 90 to
~,
; ditto (1868), 741• to 751. Viceroy's Seven per
Ccut s.,
791 to ; ditto Nine per Cents., 96:i to
971. Turkish Five per Cents., 401 to 404 ; ditto
Six per Cents., 641 6441. Charkof, 801 to 811 ex
div.; Mexican, 11 to 12 ; Italian, 511 to 51i ;
Argentine, 79 to 791 ; and Peruvian, 784 to 79.
In Telegraph Shares French Cable continue very
firm; and show a further improvement of :1, being
dealt in 171 to 171. Anglo-American is steady at
201 to 201; Atlantic Eight per Cents., 201 to 201
ex div. ; the Telegraph Construction and Mainte-
nance, 29 to 291.
English Railways opened dull, with a decline of i
in Metropolitan, f in Great Northern, 1 in the A
stock and South Eastern, and 1 in Great Eastern
London,
Chatham, and Dover. London and North
Western and Midland have advanced I. The
following
are the prices current :—Caledonian,
84 to 814 ; Great Eastern, 37 to 371 ex div.;
Great Northern, 1021 to 1031 ex div. ; Great
Northern (A), 100 to 1001 ex div. ; Great West-
ern, 53} to 54 ; Lancashire and Yorkshire,
,1f 24,1 to p5l ex div. ; London and Brighton,
to 45; London, Chatham, and Dover, 16
161;to London and North-Western, 116 to
1161 ex div.. London and South-Western, 89 to
90
ex div. ; Metropolitan, 86 to 861 ex div. ;
131 to
Allidland, 117 to 1171 ; North-Eastern (Berwick),
1141 ex div. ; and South Eastern, 751 to 76
ex div.

in American Securities, United States Five-
, Illinois
Bonds are at higher,t 82i to 84 ; and
at 94 to 93 ; but Erie Shares show a re-
-111)° of at 331 to 24.
'auk Shares continue very quiet, and the only
feature is a decline of 10s. in Oriental, the price
being 421 to 422. Union of London is marked at
3o
to 36 ; London and Westminster, 55 to 56
4,-;3llclen and County, 49 to 50 ; Alliance, 121 to
_
I`l2- ; and Agra (A) 11 to 111.
Little or
no business is doing in Miscellaneous
Securities, and prices are 'without alreration. Gene-
r;l Credit is quoted at 1-4- to dis ; International
iinanee, 2to dig. ; National Discount, 10i to
4ii ; and Hudson's Bay, 121 to 121.
The Corn Market is quiet, bvt rather firm.
There were no gold operations at the Bank yes-
terday,
The telegrams from Melbourne announce the
departure
of vessels with gold to the amount of
£637,000.
Statements continue to be circulated regarding
additional projects for ocean telegraphy, but it
lllaY he hoped the public will bear in mind that,
except, in cases where an exclusive concession may
'aye been obtained, there can be but one result of
any mania in this direction. Although each new
cO4lPanY may boast that it can do the work of
Its
Predecessors at half price, it will be in the
power of its predecessors to put down their
rates to a point that would lead no profit
t° anY of them. Sooner or later, if they are
t° be threatened with extinction, existing com-
panies will naturally say, " IVe had better
voluntarily adopt a course of temporary ruin in
Order to prevent new rivals from coming into life,
after which we.can go back to remunerative terms."
Ur, Supposing nuy new ones to be absolutely sub-
scribed and constructed, they will then offer to carry
messages for nothing, in order to force the new ones
to propose a combination by which they may
henceforth compel the public to submit to any
t4riff they may choose to adopt, and which tariff,
likel the existing high railway fares, will, at the
best, be wholly inadequate to repair the losses from
e previous contest. In whatever way the question
may be examined, it seems evident that no result
of a continuance of the speculation in its present
form is possible, save that of ruin to the companies
and
damage to the commercial interests of the
c°untry,
It is stated that information just received from
the
North-Western Provinces of India is calculated
..je:elieve the anxiety lately felt concerning the ex-
pected famine. The rains had come in time to
;live the growipg
crops, which were then—early in
B°st—sufficiently promising to dispel the fears
"441
heat. Y entertained from the drought and extreme

The return from the Bank of England for the
weekresults
ended the Bth of Sept. gives the following
:tits When com pared with the previous week
Pub1i..................... £3,681,928 Increase ... 2,670
Othere dePosits ...... 4,569,973 ... Increase ... 66014_8,.
deposits ......... 17,532,943 ... Decrease... 809,7 3b,
(4°
011 the •other side of the account :
Zenllm3ot seeuri-
other ............. ...... £14,339,928 ... No change.
1'1°44 securities ...... 14,334,091 ... Decrease ...
11,818
Theus.employed... 11,155,735 ... Decrease ... 192,060
4134°110t of notes in circulation is £23,384,895,
b4,11,."1g decrease of £198,885 ; and the stock of
c▪ iOll in both departments is £20,602,050, showing
PreecA:reasB of £359,876 when compared with the
seexung return.
of thil„,tizied is a comparison of the present position
• -ank of England and the prices of Consols
last J ea
jenoll Rentes with the corresponding week of

Same Week
At Present. last Year.
Bullionae__ ............... ....£20,602,050 ...
£20,736,1481860 193
jszoterv!) .................. 12,217,155 ...
23,875,955,'
Rat sin circulation.,, 23,384,895 ...
0116 (3f
diSCOUnt 2l per cent. ...
,08
.... - ...... •
,i.
rell•ell Ii ...... ..........
-Cif
9i‘
2iir,cent.
70f. 45e.
o ..,
The e ........ '' c' 40110 win,
411 cl bill,
house for
, „is the official return of the cheques
the s„. cleared in the Bankers' Clearing-
week ending Wednesday, Sept. 8 :
PThursday £9,925,000
srida...
atll4 ...........................
15,042,000
koudaaY.-
8,86;,000
TueadaYy
Wedneday 8,,386,,000

.£61,110,000
The
the Sdvices from the Frankfort Bourse state that
week
tze Paaie at the commencement of the
vaaeeded all previous experience.
beingl:44ll ; the principal bankersT h e presentand attendancedalers
abs i
gad the rente ort
n consequence of the Jewish festival,e
Aeror ,P sof the illness of the French Em-
orae had spread an alarm, which brought large
At
tiara for sales from South-German speculators.
railwaye °Peniug the brokers offered French-Austrian r, shares, which at Saturday's Bourse had been
Alloted 3,
203. 0 'l, at 300 ; Lombards (last price 246)7 at
St 84'46(14 shares (262) at 200, and Americans (8 1)
to the 4ncl at these prices large amounts were given
renal first bidders. This created an impression that
ii,,, 1 'Df the parties for whom the brokers were act-
wile lad
the news of the Emperor's death; but
4 react' the first prices from Paris and Lyons arrived
shares °0 occurred which carried back Credit
to 2,t° 228, Austrian Railway to 330, Lombards
uthi-:' and Americans to 86. It appeared that
liQve,l4 holders of pawned securities, together with
of t:iia` uasernpulous brokers, had taken advantage
\VII,: calltY attendance to sacrifice their clients.
beic
toetil agitation had partly subsided " people
were de
reflect that, even if the French Emperor
ra.iiwe claci, the Austrian-French and the Lombard
would Would not have been buried with him, and
ll' have continued their thriving traffic just as
ithert ~ ,
°.
"liegreat fall at Frankfort was tele-
"aPhed t 1
4144 0 I aris and Berlin, together with large
t
g Orders, Which in turn produced there a great