The Sun.
London, England, 1869-08-26 00:00:00

iVi.O-14EY MARKET

AND
COAIMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.

The Bank dircctots at their meeting to-day have
made no alteration in the rate of discount. There,
i 8 no demand for money to-day, and prices arc un-
alteted. Continental advices this morning report
Continued weakness in the grain markets.
Consols are steady to-day at 931 1 for money;
ditto, for Account, 93a Three per Cent. Re-
duced, 934 New Tree per Cents, 931 1 ;
Exchequer Bills £l,OOO, March, 8 prem. ; June, 6
; ditto £lOO, £2OO, and £5OO, March,
Prem. June, prem. ; Bank of England Stock,
4 per Cent., 246.
India Stock, 101 per Cent., April, 1874, ;
ditto 5 per Cent., July, 1880, 1131 13 ; ditto
4 Per Cent., Oct., 1888, 1011 ; ditto Enfaced
Paper, 5 per Cent., 1882, 106.
In Foreign Stocks there is a rise of 1 in Russian
Railways and in Italian. Turkish Five per
Cents. are quoted at 441 to 441; Spanish New
Three per Cents., 281 to 281 ; Peruvian Five per
Cents., 791 to 791 ; Mexican Three per Cents., 111
to 12
; Egyptian (1868), 91 to 92 ; ditto (1868),
771 to 78 ; Italian Five per Cents., 551 to 55.1 ;
and Argentine Six per Cents., 791 to 80.
American Five-Twenty Bonds are 83# to 831;
Erie Shares, 191 to 201, an improvement of 1;
.`dinois have fallen 1, at 94k to 95.
In English Railway Shares Metropolitan's have
recovered 1. Caledonian, are 801 to 801 ; Great
Eastern, 37} to 38 ex div. ; Great Northern, 106
t °lO7 ; ditto (A), 1041 to 1051 ; Great 'Western,
6,1
t° 531 ; Lancashire and Yorkshire, 127 to 1271;
London and Brighton, 441 to 441 ; Londcn, Chat
-
1;41) and Dover, 161 to 161 ; London and North-
-I,etern, 119 to 1191; London and South Western,
`)°l to 891; Metropolitan, 93 to 931 ; Midland,
1181 to 1181 ; and South-Eastern, 761 to 77.
In Bank Shares there is a fall of 10s. in London
and Westminster, the price being now 551 to 56k.
French Cable Shares are 181 to 184, being a de-
eii.l)4.ie of Anglo-American is steady, at 201 to
(
e 4 div. ; and Telegraph Construction is 1 better,
at 281 to 22.
We have to contradict, in the strongest possible
berhlB) the report of the failure of Mr. Stanley
aldwi, which appeared in our City Article of
Yesterday, and to state it is utterly untrue.
The Bum of £22,000 in gold was withdrawn from
the Rank yesterday, and the operations of the week
ia,ce the date of the last return have resulted ou
balance in au influx of only £lO,OOO.
Anf undertaking, it appears, h in course of
euorreation for carrying out submarine telegraphs in
e
lirantunication from Rangoon to Singapore, Java,
ng,-Kong, Amoy, and Shanghae.
1t is understood that several highly respectable
capitalists_ have secured a concession giving them a
")oepoly of the whole of the Persian railways and
0%1 mines for a period of 25 years.
fell he
Levant Herald of the 18th inst. contains the
°,wing with reference to the proposed new
terms of
Loan :—" No official intimation of the
1;411 of the new £12,000,000 loan has yet been
...adelbut it is understood that its cost to the Trea-
LarY will be 12 per cent. The Societe Generale, it
0 said, takes 70 per cent. of the amount, and the
takeinan Bank the remainder. The contractors
atit at 58, with the right of issue to the public
62.
eta
th meeting of the Southampton Dock Company,
directors' report, which was adopted, recom-
mended a dividend for the half-year at the rate of
Per cent. per annum, leaving £1,130 to be carried
forward,
The Midland Railway traffic return shows this
Week an increase of £9,220, compared with the
Corresponding period of last year ; the London
and north Western an increase of £6,4064 the
and
Eastern an increase of £6,406 ; the London
„14 South Western an increase of £3,954 ; and the
Great Northern a decrease of £3,217.
8 It i 8 announced that 516 Greek Bonds of the
:Iles guaranteed by England, 471 of the series
guaranteed by France, and 524 of the series
bonds,
by Russia, making a total of 1,511
have been drawn by lot, and will be paid off
0
the Ist of September.
A Joint meeting was held at Leeds yesterday of
the Creditors of three firms of that town who have
filled--viz., Messrs. Newsome and IVailis, with
liabilities of £15,000, who male an offer of 13s. 4d.
i;11 the pound ; Messrs. R. and J. Newsome, whose
;abilities are £12,000, who made a proposition of
a.
to the pound ; and Mr. John Wailes, with
-4'ooo liabilities, who also offered 7s. in the pound.
these proposals were not accompanied by any
offer of security, the meeting wAs adjourned to
eiltve the respective debtors an opportunity to pro-
re such assistance.
oasi.‘,Proposal has been issued by the provisional
lal liquidators of the Albert Assurance Cora-
134hY
the Mr. S. L. Price and Mr. A. R. Kirby, for
amountngement of the company's liabilities. The
jeet a policies outstanding is £8,207,041, sub-
oiiit.te annual premiums of £312,657, and the an-
on payable Payable are £19,307. The actual liability
arld"tei Policies, assuming the office to be broken up
Preelilat they could rank for the full amount of the
t 3,00,11418 Paid as on a broken contract, would be
`-',OOO, the value of the annuities would be
000
atnloit. and in addition there are claims admitted,
xlic, 'es overdue, and general debts amounting to
u'° k'
of z ; ina an aggregate immediate liability
4,260 000
11114eluiti ; ,to meet wnich there are assets
doe,
_peg to only £210,000, and the possible pro-
pthaeicteuounlveaanlylsbuepinogn the shareholders (the capital of
£600,000, of which £170,000 is
beht up) any
such calls under an absolute liquidation
We 'mated to yield not more than £lOO,OOO.
tlettia"`"e) therefore, a total of £310,000 to meet
nds fo. p.
4t• Arth .0)-460,000. But Mr. Jellicoe and
that is
ur Bailey, the actuaries, are of opinion
veer lite office can be maintained as a going
''ut and the policy submit to _ Icy holders will on the average
Of th,s, 4 reduction of 25 per cent. in the amount
4 t.,,,`Lr Policies and the annuitants and creditors to
i„ '4actiort
-14 a posit. " 50 per cent., it will then be placed
tc.ea of perfect safety. This reduction,
older press with extreme hardship on the
extenrelea, since in their case it must be to the
Poiat of about 40
10 to sto 10 per cent., ranging from that
.1
to
kealvy
out per cent. on the youngest policies.
ue coy out these arrangements a new company is
Its kaset_4tttated to take over from the old one all
of
B:at'lld undertake all its liabilities on the re-
af fottire such company to have 20 per cent. out
14 to got
oPr?fits, while the remaining 80 per cent.
_ curio_ the Policy holders.
ellce of i Lis fact has transpired showing the differ-
kfe hconoe derived from two securities, equally
dealilivestmenta) though the one is not as freely
IlelytTilihrt the other. An investment of £lOO,OOO
4)1! £3,000" Per Cents,,
'voln. a Year, which produced an income
tair. Per l
Canadavias changed the other day into
'tl at the Guaranteed Bonds, which,
Ora ; the
,a. price current, return £3,550 per an-
tui ally a
(: latter being the same as the former, vir-
Onal adv!vernment stock, with even the addi-
,?ldera w,4tage, would be invaluable, as the
s~anada Dour be then sure to receive their money.
?el: Cent, Guaranteed Bonds are the
'
'r lPtion of investment adopted by
aookinc, assurance offices, and other institutions
a Permanent and steady return for their

iw 0 O'CI,OUIC•
traTiti IE r U.N DS —'
2 (iovb . ti,i. , ,11NNILNT PUNDS.;
Ntiji, 'Alt. Coursok .. ....................... 9,):2; i
Lto fur =locoing Sc- pt 8
k,': ()out. Reduced
1,:31 1 i
v? 121 Per Ceill, ............................
1) - Per Ceut. Jan. 1881
CI °..6 Per eculB73
1)0. for!s Yrs, oxi
4111" o so
Are sth Jan. 1880.
isss —
1.) 0 yrs, expire sth April ,
___
0 (ted Spa Tel ..1 II) Aug., 1908—
el
1 ""
.March
ktccluar Rills, .£l,OOO, 21 p. Lit._
......
130 Do,
'TIT"
pm
II
0 11( 01 England4Sl°to'cit,2°4ti) p6'.er.CsCCl.eou.t....
oluinn•
..............
.....-
-11.11
Liu
.................
orb leer Bonds
nial Cranium
txt,i." ~,
teal, F, %.+OVF4t.I,IIIENT BEC.I2IIITIES.
D oloclr 10f per Cout., Aim 11 1874 —
1) ' Polling, for Account
13
D 5 per Ceut. .111137,1880
1011
1;°. I ot. Cott., Oct. 1888
15* Certificates