The Sun.
London, England, 1869-06-24 00:00:00

MONEY

MARKET

AND

COMMERCIAL INTELLIGENCE.

CUT, Two o'CLOCK.
FURTHER REDUCTION IN THE BANK RATES.
The directors of the Bank of England, at their
weekly court this morning, were unable to resist
the influences in favour of a further reduction of the
Bank rate, and the official midimu►n was put down
to 31 per cent., 4 per cent. having lasted but a fort-
night. In the open market,thowever, the bills offering
are so few and the supply of money is so great, that
this change, though called for at an unusual time,
is not likely to improve very materially the busi-
ness of the Bank ; 31 per cent. is current for three
months' paper, or 1 per cent. below the new mini-
mum. The banks and discount brokers are arrang-
ing for a corresponding reduction in the interest
allowed on deposit.
Consols are firmer to-day, at 93 21 1 for money ;
ditto, for Account, 931 ; Three per Cent. Re-
duced, 921 ; New Thee per Cents, 921 3 /21 ;
Exchequer Bills £l,OOO, ; ditto £lOO, £2OO, and
£5OO, —; Bank of England Stock, 4 per Cent.,
242.
India Stock, 101 per Cent., April, 1874, shut ;
ditto 5 per Cent., July, 1880, 112 111 ; ditto 4 per
Cent., Oct., 1888, 100/ ; ditto Enfaced Paper, 5
per per Cent., —.
Foreign Stocks continue to show a most an en-
tire absence of business, and in one or two instances
prices are a shade lower. Mexican and Peruvian
are each 1 wore—the former being quoted at 121
to 121, the latter at 80 to 801. Russian Charkoff
Railway is 1 lower, at 781 to 78.
In English Railways Great Eastern are dull at
231, on the preamble of the Company's Steamboat
Bill being declared not proven by a committee of
the House of Lords. The general tendency is less
favourable. Brighton and Great Northern are to-
day 1 lower, and Great Western and London and
North Western each.
There is no change to-day in American Securi-
ties. The United States Five-Twenty Bonds are
quoted 801 to 80a the Ten-Forties, 711 to 72 ;
Erie, 191 to 20 ; Illinois, 94 to 95 ; Atlantic and
Gseat Western Bonds, 25 to 251 ; and the Deben-
tures, 271 to 281.
Bank Shares continue very quiet, and prices in
some instances scarcely so firm. Oriental is 1
lower, at 441 ; Imperial Ottoman 1, at 21 to 21
prem.
In Miscellaneous Securities Anglo-American
Telegraph isl higher, at 201 to 201. General
Credit is 1 better, at 11 to 1 dis. ; International
Finance is steady, at 2 to 11 dis. ; National Dis-
count, 2 to 11 dis. ; and Hudson's Bay, 121 is 121.
The sum of £48,000 in gold was taken to the
Bank yesterday, including 7,000 sovereigns from
Brazil. The total sent in since the last return has
been £255,000.
On the application of Mr. Gordon, one of the
defendants, the Lord Chief Justice Cockburn has
directed that the trial of the directors of Overend,
Gurney, and Co. (Limited) shall be held before
himself, at Guildhall, on Friday, the 2d July.
At a meeting of the Royal Exchange Assurance
Corporation a dividend at the rate of 16 per cent.
was declared for the half-year, making, with 4 per
cent. paid at Christmas, a total distribution of 20
per cent. for the year.
The directors of the New Zealand Loan and
Mercantile Agency Company have announced an
interim dividend at the rate of 10 per cent. per
annum for the past six months, payable on the
Ist of July.

The report of Charles Cammell and Company
(Limited), steel and iron merchants, of Sheffield
and London, recommends the payment of a divi-
dend of £4 per share for the past year, and the in-
creasing of the reserve fund to £69,345 Is. 10d.
The ordinary general meeting of the Mexican
Railway Company (Limited) will be held on the
30th inst.

A meeting of the Confederate Cotton Bond-
holders is to be held at the Terminus Hotel, Cannon-
street, on the Ist of July, at 12.30, in compliance
with a requisition, numerously and respectably
signed, " for the purpose of irotesting against that
part of Mr. Sumner's speech referring to their
interests ;" also to consider a petition to the House
of Commons " not to grant compensation for sati,-
fying any claims arising out of the late war in the
United States unless adjudicated by an impartial
tribunal, according to the principles of equity and
international law."

The decision of the Vice-Chancellor with respect
to the case of the South-Eastern of Portugal Rail-
way has given great satisfaction. The position of
the shareholders and the debenture holders is
quite bad enough as it is, without harassing the
property with any more litigation. The check thus
interposed will be salutary, and prevent any fresh
attempts to disturb the arrangements which may be
made to secure what is recoverable from the general
wreck.

The Tower Subway has now passed the nearest
approach to the bed of the river, the top of the
tunnel being twenty-three feet below the bed, and
the engineer, Mr. Peter W. Barlow, jun., reports
that at the present rate of progress the tunnel will
reach high water mark on the Surrey side in ten
weeks.

The reports from the large corn producing dis-
tricts in Styria and Lower Austria are stated to
be very satisfactory as regards the approaching har-
vest, the expectation being that it will equal that of
last year, which was unprecedented. 'The accounts
from the Hungarian districts are also, it is said, very
encouraging, although in some parts rain has been
wanted.

BRITISH FUNDS—CLOSING PRICES.
CioxxivotErr
_FUNDS.
3 peu-Cenf. Consols 43
Ditto for Account, July 7
3 per Cent. Reduced 92k 3
Near 3 per Cent
New 21 per Cent. Jan. 1894
Do. 5 per Cen J 111.1873
Aunuit.fes„Bo yrs, expire sth Jan., 1880.

Do. for 30 yrsl expire sth April 1885 --
Do (Red Sea 1 elevaph), Aug., 1908
Exchoquw Bills, £l,OOO, 21 & 3 per (it
Do £lOO, £2OO & £5OO
Bank of England Stock, 4f per Cent

Do. opening
Canada 4 per Cent. Bonds
Inter-Colonial Uranium

INDIAN .GOVERNMENT BECIMITIE6.
India Stock, 10f per Cent., April 1874_, Shut
Do. Opening, for Account —
Do. 5 per Cent. July, 1880 .. ll2 111 i
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enfaced Pape. 4 per °Aut., ... —
Do. 5 per Ce.vt. Jan. 1872 ......,. lO4
Do. 5i per °gni. May 1879 —
D) 5 per Cent., Rnp. Deb. 1872 —
Do do 1877 —
Do. do. 1882
_ ._ _ ___

D." Deb., 5 per Cent., Aug. 1873
Do. Bonds, 4 per Cent., £l,OOO
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent ...
initrisn Bonds 5 per cent .. —
Do. 1859 —
Brazilian 5 per Cent 73
00. 4} per Cent. 1852
Do. do. 1858...
Do. do. 1860 ......... ..
Do. do., 1863 —
Do. 5 per Cent., 1865 —
Do Account —
B anos Ayres 6 per Cent.
Do 2 per Cent. (Deferred 3 per Cent )
Cu.'" 6 pep Cent.
Cdthan 6 per Cent —
!'o. 4i per Cent —
Do. 3 per Cent.,
Lo. 6 per ce-t. 1867
Do. 7 per Cent., 1866
C lo nbian, 6 per Cent.
Danish, 3 pir Cent., 1825
Dau.,tian Principalities, 7 per Cent
Do 8 per Cent., 1867 .. 92}
h'qualor New Consolidated, 1 per Cent
Egyvtiao, 7 per Cent ."
j)a Second Issue •.• ..

Do. .£501., Bonds
Do. .C.OO Bonds ..... 85t
Do. 1864
Do. Account
Do. .£5OO Bonds ..
Do. 110 C Bonds lloi
Do. 7 per Cent., 1868
L4overumenl hail way .oebenture lOO 1
Greets 5 per CL,nt., 1824 5, ex Coups —
Do. iftecunt
Do. Uoupcns -
Do. Account
a:Lie-nal:I, 5 per Cent .. —
Honduras Gov Rail. Loon., 10 p. Ct., all pd
114,iau 5 per Cert., 1865
Do. Account ~
Do Maremmana Railway —
Idexicar. 3 per Cent