The Sun.
London, England, 1869-02-08 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

CITY, Two O'CLOCK.
The transactions on the Stock Exchange to-day
Were by no means extensive, yet prices were main-
tained for Consols, and, generally speaking, they
improved in the foreign market. The rate of dis-
count remains unaltered, but loans for short periods
can be had at 21 per cent.
Consols are 93 s for money; ditto, for Ac-
count, 931 ; Three per Cent. Reduced, 931 a ;
New Three per Cents, 931 ; Exchequer Bills
£l,OOO, 21 per Cent., —; Bank of England Stock,
4 per Cent., 244 3.
India Stock, 101 per Cent., April, 1874, —;
ditto 5 per Cent., July, 1880, 1121- 1; ditto 4 per
Per Cent., Oct., 1883, ; ditto Debentures, 5
Per Cent., Aug., 1873, 1041.
In the Foreign Market Peruvian Stock has
gone up per cent., Argentine ;1, Italian, Orel
yitebsk, and Turkish 1. Prices are now as fol-
-I"i's:—Argentine, 77 to 1 ; Brazi:ian of 1865,
82,,/ to ; Chilian of 1867, 931 to 941 ; Egyptian
of 1864, 87 to 88 ; ditto of 1868, 731 to 0 ; Italian
of 1861, 551 to 1 ; ditto Tobacco Loan, 44 to 51
Prem. ; Mexican, 151 to ; Peruvian of 1865,
771 to ; Russian of 1866, 92 to ; ditto
Nicolai, 67 to ; ditto Orel, 811 to s ; ditto
koscow, 794 to 801 ; ditto Charkof-Azof, 801
to 4 ; Cbareow-Krementschug, 801 to 4 ; Spanish
of 1867, 304 to 31 ; Turkish of 1858, 651 to 66/ ;
ditto of 1852, 641 to 65 ; and ditto of 1865, 394
to 40.

In railway stocks London and North Western
Brighton, South Eastern, and Caledonian have im-
proved Bto 4 per cent, 1 ut Metropolitan have gone
down 8•
Prices are quoted as follows :—London
and North Western, 1191 to ; Great jWestern,
531 to ; Midland, 1191 to 8 ; Great Western,
531 to ; Midland, 1181 to 1191 ; London and
South Western, 90 92 ; Great Eastern, 421 to
41i ; Brighton, 54 to 521 ; South Eastern, 821
to 83 ; Metropolitan, 1091 to ink ; Great North-
ern, 112 to 1 ; ditto A, 111 to 1; Caledonian, 80k to
818 ; and Loudon, Chatham, and Dover, 171 to 18.
American 5-20 Bonds are at 762- to 1, being per
cent, better; Erie Railway shares, 25 to 1, showing
a decline oft ; Illinois Central, 931 to 94 ; Atlan-
tic. and Great Western Debentures, 37 to 39 ; and
the Consolidated Mortgage Bonds, 39/ to 401, a
rise ofi
In Bank shares Imperial Ottomans have risen
-we., the present price being 21 to 1 prem. Anglo-
Austrian, 14 to 121 prem. ; London and County,
5.301 to 1 ; London Joint Stock, 311 to 321 ; Lon-
,rucm and Westminster, 611 to 1 ; and Union of
London, 341 to 351.
In Miscellaneous Shares Anglo-American and
Atlantic Telegraph Eight per Cent. Preference are
quoted 221 to a and 4 to 1 ; National Discount,
11 to /, ex div. ; General Credit, 1 13-16 to 11-16
International, 11 to 11 dis. ; Hudson's Bay, 13f to
; and Telegraph Construction, 171 to 4.
The sum of £40,000 in gold was taken from the
Bank on Saturday.
„ The Hammonia, from New York, has brought
'81•300.
The dividend of the London and North Western
ailway has been announced at the rate of 61 per
isee_nt• per annum, as against 51 in the previous
?ail year, and 61 for the corresponding half of
1867.

It appears that the public are again to be annoyed
by Proceedings in Chancery against the Metropoli-
tan Railway Company, which will; of course, lead
to fluctuations in prices, and probably terminate
as the other suit did. Fresh dissensions will also,
it is stated, be endeavoured to be provoked at the
Caledonian meeting ; it is hoped it will not be suc-
cessful. It is time all these depreciatory move-
-Ilents should be stopped if the value of railway
share property is ever to be re-established.
The Mexican Railway Company (Limited) have
invited applications for the unsubscribed portion of
their Class A Mortgage Bonds, being 8 per cent.,
and be to issued at the price of 85. The works have
been resumed upon the Puebla Branch, for the
completion of which, by the end of June next,
Means have been provided.
Advises from Paris state that M. Magne, the
kinister of Finance, has announced to holders of
Itexican Bonds that they will receive an instal-
ment of sf. 82c. in Rentes, and 3f. 82c. in cash
upon each bond ; and upon each debenture issued
by the Mexican Government, and bearing 6 per
cent, interest, an instalment of 3f. 88c. in Rentes,
kid 2f. 40c. in cash. The date for these payments
has not yet been fixed.
Ile National Bank of Greece announces the
vaYment from the 6th February of 69} drachmas
as dividend of the second half of 1868. The sum
is nearly 14 per cent. on the capital, and the
ban•
k, it is said, augmented last year its reserve by
drachmas, making the total 6,689,731,
wthe total being 15,000,000. The dividend is to be
Paid at Paris by Messrs. de Rothschild.
According to a circular of Mr. F. M. Page, the
aPecle shipments to the East, via Alexandria,
amounted last year to £10,189,904, against only
3)659,
m 154 in 1867, which was the smallest shipment
known for many years past. The highest total ever
c tattled was in 1864, when in consequence of the
Zp2tion of the American cotton supply it reached
11'318,189. For the last nine years the average
been £13,933,000. Of the increase of 6 millions
W "in in 1868 over 1867 the excess to Alexandria
zu,? about 3i- millions_a circumstance attributable
th—e °lily to the Egyptian cotton crop, but partly to
large loan advanced to that country.
aA.!though part of the present heavy drain of
lrcle la to the East for cotton and other produce,
Ocapeluefcause has been the large recent importation
foreign securities. Within the past fortnight it is
have been
that £400,000 of Egyptian bonds alone
ve been sold from Paris on the London market,
While at the same time heavy sales have been made
o
Spanish and other descriptions. The payments
• 11e late Russian Railway loans have likewise
'uiltributed to the outflow. Under these
• stances the country is in a better con-
bar than would be the case if the drain
C been created by an over-active expenditure.
as
iOtton
and silk and foreign bonds are just as good
If gold in their power of influencing the exchanges.
co the rate of discount were to advance to an in-
, tlvenient point, they would be sent away to bring
u•aelc the gold the withdrawal of which had occa-
:raed the upward movement. Although we occa-
:lCY take foreign securities ia wholesale amounts
ell, as no other nation would venture upon, there
t, almost invariably an investment demand from
to" Continent by which they are gradually ab-
__the.d. at prices that leave us a good profit. The
Zaditions now
operating on the money market are,
ioeref°ret not such as need create any expecta-
u of
.a disturbance of its steady state. The ten-
dency 18 upward, but only to a healthy extent.
BRITISH FUNDS—CLOSING PRICES.

a QOVERNMENT FUNDS.
93
Per Cent.
Consols
3 Ditto for Account,
931
New Per Oellt. Reduced
931
New 3 per Cent
I:Z2/ per Cent. Jan. 1894 -
-
4 • per Oen J91:1.1873
tinuities, 80 yrs, expire sth Jan., 1880 —
E
1)„,e. for 30 yrs, expire sth April 1885 —
Do (Red Sea Tele raph), Aug., 1908 —
Pm
xcoThr Bills, .£16,000, 21 Per at.
Do,
.rs Do. .£5OO
4a,nl, £lOO & £2OO
244 3 pm
''''' ef England Stock, 4 por Cent
v Do. account
fallale 4 per Cent. Bonds
nter-Colonial Oniniurn
-,.
.INDIAN GOVERNMENT SECURITIES.
4rlda tock, 101 per Cent April 11874 —
Do, n
~
_ _
,'Pettinr, for Account
Do 5 t,i
112 j i
0 • per Cent. July, 1880
rse• 4 per Cent., Oct. 1888
uo. Certificates
0
_
rse. Enfaced Pape, 4 per Cent
"nO. 5 per Cent., Jan. 1872
arl°' 5.4 Per OUit. May 1879 _
"43 5 per Cent., Dup, Deb. 1872 —
DDo
do, 1877 _ Do.
do. 1882 _
i. Deb 5 , Aug.18-3
~ per Cent., i
pm
Do. Bonds, 4 per Cent., £l,OOO
1)0. under £l.OOO
FOREIGN FUNDS—CLOSING PRICES.
ArKentine Reblic, 6 per Cent
. .£ pu
o°, Scri p. ....
I, 'Austrian Bop nd4ss 5 percent
. t
Do. 1859
~.
—,