The Sun.
London, England, 1869-09-08 00:00:00

AIONEy M. KET

AND
COMMERCIAL IN'LLIGENCE.

--4.
The market to-day :Y, Two o'CLOCIC 1
is 1 unsettlel by the re-
port of a panic in Constin°P
le and of renewed
uneasiness in 'Vienna. isols are 1 higher, and
foreign stocks are flat.
Consols are quoyant 921 to 94 for money ;
ditto, for .Acount, 9; Three per Cent. Re-
duced, 91 a ; New
E xchequer Bills
.£l,ooelareb'
c.-,;(3 per Cents, 911 1 i ;
prem. ; June, 10
--- prem. ; ditto £lO 200, and £5OO, March,
Peer'. ; June, 10 prey ; Bsnk of England Stock,
4 per Cent., 245.
India Stock, iof per went., April, 1874, 210 ;
ditto 5 .ily, 1880, 1141 ; ditto
. per Cent..BBB n-a
4 per Cent ot, z..), ; ditto Enfaced
l'aPer, 5 '' c "
per Cent '572, 1051.
The panic at C
tutted the marl, stantinople has very much dis-
for foreign stocks, especially as
regards Turk; and Egyptian. Of the former the
Five per ce . Loan is / lower, at 401, and the
'''ix per cr.s. 11, at 631. Of the latter the Go-
vernmer,Loans are unaltered, at 90 to 91 and 741
to :754. respectively. Viceroy's Nine per Cents.,
bower, are 11 lower, at 96/, and the Seven per
Cers• 1, at 79.
111 the Railway Share Market business is flat.
The following are the prices :—Caledonian, 81
t° 811 ; Great Eastern, 371 to 371 ex div. ; Great
Northern, 103 to 104 ex div. ; ditto (A), 101 to
1011 ex div. ; Great Western, 53 to 531 ; Lancashire
and Yorkshire, 1241 to 1251 ex div. ; London and
trighton, 441 to 44/ ; London, Chatham, and
over, 16 to 161; London and North-Western,
1154 to 1161 ex div. ; London and South-Western,
89 to 90 ex div. ; Metropolitan, 871 to 871 ex div. ;
Midland, 116/ to 1171 ; North-Eastern (Berwick),
114 to 1141 ex div. ; and South Eastern, 751 to 751
ex div.

American Securities are fiat. United States Five-
Twenty Bonds are i lower, at 82/ to 84.
Bank shares are dull, and the general tone of
.I;l.iees is scarcely so firm. London Joint-Stock is
4-us• lower, at 29i to 301 ; and Imperial Ottoman,
at 18 to 1 prem.
A fair business is doing in Telegraph Shares.
Anglo-American shows a further improvement of
at 201 to 20k, but French Cable is lower.
In Alis.cellaneous Securities, General Credit is
markeb at 14 to 14 dis. ; International Finance, 2
to I 8 dis. ; and National Discount, 10:1 to 111.
The sum of £113,000 in gold was withdrawn
from the Bank yesterday, including 50,000 sove-
reigns for Canada and 10,000 for India.
The Manchester markets this week have opened
heavily.
The Frankfort advices, dated Saturday, refer to
the collapse at Vienna and to the considerations
which impelled the National Bank and other insti-
tutions, such as the Credit and Discount Bank, to
raise their rates and restrict their loans. The public,
it appears, have at length discovered that a great
many of the recently started banks had no legiti-
mate business whatever ; that all that was new in
connexion with them was that the promoters had
hit upon
it upon a name which would support the pretencWe
Lnat they intended to enter into monetary relations
*wit some special foreign country, or that they
°llld cultivate a particular branch of finance at
'cull% The great majority of them simply gambled
at the Bourse, or furnished to their followers the
means for doing so. They took money on call in
Bums from 10f. to 1,000 f., and issued certificates,
Payable after one, eight, or 14 days' notice. The
means thus obtained they lent out on their own
shares at the high prices they had reached, which,
in some instances, were three times the amount
Paid upon them. When the National Bank, by
raising its rate of discount, sounded the alarm, and
when the indisposition of the French Emperor
began to disturb the equanimity of speculators,
the note-holders called for their money, the banks
were compelled to ask for their reimbursement
of their advances, and, as the mortgaged shares
Could not be sold at any price, other securities were
brought instead to the market. A ruinous fall oc-
curred, and large orders for sale were sent to
Frankfort. Even such shares as those of the
Lombard and French Austrian railways, whose
weekly returns are most satisfactory, were forced
011 in large quantities, and , went down severely.
The speculators in other parts of Germany who
operate at Frankfort also took fright, so that the
market was pressed from all sides, at the precise
moment when the anxiety regarding the health of
the Emperor Napoleon was influencing prices at
aria• Among the latest rumours is one to the effect
that the Austrian Bank, to stem the adverse current,
Intend to sell a million dollars' worth of their
foreign bills, and to import the amount in silver,
Increasing thereby their reserve, so as to enable
them to make further advances at Vienna. Of
American bonds the floating supply was compara-
tivelyl moderate, large amounts of 1885 descriptions
having been sent to New York. The portion of
the Alabama and Chattanooga Railway loan offered
f .17 subscription at Frankfort has been taken in full,
ut subscriptions for other mortgage bonds of vari-
ouslB American lines have entirely failed. " There
such
',it is remarked, " a deep distrust here against
with
bonds, and all remarks of American papers
‘ll regard to large sales effected in Germany are
merelyvr inventions to influence the market." At the
tesankfort autumn fair a satisfactory extent of busi-
wo4, has been effected, especially in worsted and
1211 en goods, which have sold well.
the mail from South Australia brings advices to
4151,7 17th of July, when the crops promised favour-
d. The Northern Territory Company had been
pr`"*icolved, and
xtes by the land orders sold at nearly par
The first instalment of the Burra
opener'
Railway, 24 miles in length, had been
friet-e' The news from the silver mines is satis-
tairy• The mania continued for speculating in
having shares, a large number of new companies
ing been started, and an extensive tract of
eou
1,013441 taken up in the north for mineral pur-
t)eLiie from
Specimens
04Ad iela
of gem-sand have been brought
the Port Lincoln district. Atten-
of
fias still given to the culture and preparation
that and mills are being erected. It is reported
coal has been discovered in the north. 'rho
news
hniz' the further fall in wool in the English
tilt) 'LB had opened a very gloomy prospect to
se engaged Market ii in pastoral pursuits. The wheat
bz as been paralysed through the arrival of
Per b
eEtdstus uffs from Calfornia, wheat being at 4s. 9d.
Was hel
without buyers ; and flour, equally dull,
Btu 10 to £l3 per ton. The banks continue to
bu draughts on London at 11 per cent. pm., and to
5' per cent. dis.
•Aal
(Maki ighth dividend of ls. 6d. in the
pound
ng 13s• in the pound paid) is payable oCon the
and 10th inst. to the creditors of the Oriental
CoZere,reittßhaenrsk, (aLnid Co.
mited ) at the offices of Messrs.

'CLOCK'
13111TISA FUNDS—TWO O
Per(4o°Zß3ltnN'rlirr"3.; 924 i
Ditt ,
92k
'4:l tor Account, Sept 8
1;°,„ Per Cent. Reduced 914 I
01:_r 3 Per (lent
: 1 per Cent. Jan. 1894
_
4, ''). per Oen 19.12. 1873
ililitieS! 80 vre, expire sth Jan., 1880 —l bJu yrs, expire sth April 1885 —
xx, 0 Otod Seu. Tolevaph), Aug.., 1908 —
'hetitt3r ltille, £l,OOO, 24 p. Ct. March
Da
Do.
3 do. Juno 10
r,
ntt I. £lOO, £2OO & £5OO —
pin
t'". of Ell land Stock, 41 per Cent
1).4 g (~, • opening — 1.'4414 Per Cent. Bonds —
.4Lor-Colonial (Autumn.
In INDIAN GOVERNMENT SECURITIES
'la ,`;rock, 104 C t April 1874 2lO
per on ~
Do. Opening, for Account _
bc,
1141
b • 5 per ceut. July, 1880
~,° 1 pet- Cent 888
Li C, .. •, Oct.•
_
0. ertalicates
p)o. Enfaced l'apt,, 4 per Cent.. ... —
105 i
O. 5 per Cent., Jan. 1872
,-'°. 51 per Cent May 1879 _
1)4 5 per Cent., Rup. Deb. 1872
Y)0
do 1877 _
,I):, Do. do. 1882 —
Do. Deb., 5 per Cent., Aug. 1873
bo. Under
.£l.OOO
.FOREIQN FUN DX —TWO O'CLOCK.
entlne Republic, t por Cent 784 I
lrguitrian Bonds 5 per cent
Do. 1859 —