The Sun.
London, England, 1869-09-02 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.
The Bank directors to-thy at their weekly meet-
ing made no alteration in the rate of discount, but
a change was not generally looked for. The price
of Government Securities has not given way to any
extent, and although there is abundance of money
little demand for it exists.
Consols arts flit at 93,1, 2k to 3/ for money ;
ditto, for Ac.!ount, 93 ; Three per Cent. Re-
duced, 911 ; New Thee per Cents, 911 2 11 ;
Exchequer Bills £l,OOO, March, 7 prem. ; June, 6
prem. ; ditto £lOO, £2OO, and £5OO, March,
prem. ; June, prem. ; Bank of England Stock,
4 per Cent., 244.
India Stock, 101 per Cent., April, 1874, 211 10 ;
ditto 5 per Cent., July, 1880, 111; ditto
4 per Cent., Oct., 1888, 9911; ditto Enfaced
Paper, 5 per Cent., 1872, 1051.
In the Foreign Market business is quiet, but
prices are maintained. Argentine are quoted 791.
to 79:1 ; Eruption (186 J), 901 to 911 ; do. (1868),
764 to 761 ; Viceroy Seven per Cents., 81 to 811 ;
ditto Nine per Cents., 97; to 9S; ; Italian, 541
to 541; Mexican, 114. to 12 ; Peruvian, 79 to 79/ ;
Orel Vitebsk, 841 to 85} ; Charkof, 81 to 82 ;
Spanish, 28/ to 281 ; Turkish Five per Cents, 43i
to 43k; and Six per Cents., 66 to 661.
In the Railway Market Great Northern A Stock
is 1 and Great Eastern lower. Midland, London
and London and North Western, and Great
Western have receded 4.. The prices are now
as follows :—Caledonian, 81 to 811 ; Great
Eastern, 371 to 38 ex div. ; Great Northern,
1044 to 104.1 ; Great Northern A, 1021 to 103 ;
Great Western, 541 to 54; ; Lancashire and York-
shire, 1251 to 1251 ; London and Brighton, 45
to 454. ; Chatham and Dover, 161 to 16; ; Lon-
uf don and North-Western, 1161 to 117; ex dio ;
London and South Western, 89/ to 90/ ex div. ;
Metropolitan, 914 to 92 ; Midland, 117/ to 118 ex
div. ; North Eastern (Berwick), 1141 to 115; ex
div. ; and South-Eastern, 764 to 76; ex div.
In Bank Shares, London and Westminster are
marked 55 to 56 ; London Joint-Stock, 30 to 31 ;
-Union of London, 35 to 3G ; Oriental, 43 to 44 ;
London and County, 49 to 50 ; Imperial Ottoman,
21 to 2/ prem. ; Consolidated, 44. to 4i ; Chartered
Mercantile, 321 to 331; Alliance, 12k to 131 ; and
Agra (A), 11. to 11/.
The sum of £25,000 in sovereigns from Brazil
was taken to the Bank yesterday, and £48,000 in
bar gold was withdrawn for the Continent. The
operations of the week since the date of the last
return have resulted on balance in an influx of
£78,000.

The Lagos, from the West coast of Africa, has
brought £9,604.
Telegrams from Vienna mention that the Wiener
Bank had published a statement for the past year,
allowing a net profit of about 2,000,000 florins,
and that the Bourse had become firm.
elle disposition of the public to pay attention to
telegraph enterprise is attended by the usual re-
sult of a multiplicity of projects being hurried out,
but the events of 1866 are not yet sufficiently re-
mote to admit of the prospect of danger. The
ooh Atlantic Cable being only a few weeks old,
a new one from Ireland to Nova Scotia of a light
description, to cost £470,000, is now talked of,
which is to do the work of the existing cables at
half price. If the capital could be found and the
hue successfully laid, the shareholders would pro-
bably be informed within a month that a fresh one
of still lighter constructiod would be proposed,
which, at a further reduction of 50 per cent. in the
tariff, would still be expected to prove highly re-
munerative. That the progress of electrical science
Will ultimately cause the cables of the present
day to appear cumbrous can hardly be doubted,
but much further experience will be necessary be-
fore any very costly experiments in that of erec-
tion can be ventured upon. It is affirmed on good
authority that during the last 18 years there have
been 8,000 miles of light cable laid, some covered
With light wire, two consisting of indiarubber core
alone, and others protected with hemp and other
substances, but that no line of this description
has been found to last longer than one year, while
in some cases the period has been a few weeks
Only. All the cables now in working order are of
the strong and heavy form, and there seems no
example of any kind that can be cited to justify
the adoption of the light principle.
The tenders for £325,000 in bills on India were
allotted yesterd ty at the Bank of England—to
Calcutta £282,000, and Madras £43,000. The
minimum price was fixed at ls. lid., being 1 per
Cent, higher than on the last occasion, and tenders
on both Presidencies at Is. llkd. will receive about
30 per cent. These results show an increase in the
demand for means of remittance to the East.
With regard to the Alabama and Chattanooga
41 Aallway advices from New York announce that
v° Miles of the line have been accepted by the
State of Alabama as a first-class road, fully equipped
and completed, and that 25 miles additional are
finished and will be immediately delivered. It ap-
pears that 5,000 workmen are engaged, that the
construction is progressing at the rate of a mile a
day, and that confidence is entertained in the esti-
mates of traffic.
is understood that the traffic of the French
atlantico(-1_ Cable during the first week it was open
. 'lced a net sum for the company of £357, and
rlag the second week £746. The number of mes-
ga was 227 and 321 respectively. The submarine
ando4s Subterranean cables at Brest were joined up
a.turda last, and the whole line is now certified
to
be in excellent working order. The account
g;
ra 7he Sun of the great boat race was tele-
lie,P,ued at full length by the cable, and appeared
Morning in New York.
to „ae Midland Railway traffic shows an increase of
ret7't4)3, but the other returns are not so favourable.
Coto crease on the London and North-Western
any is only £236. The London and South-
qra!,er_ll return exhibits an increase of £3,544. The
Great Northern Railway shows a decrease of £2,924.
of Isx,reat 'Western Railway exhibits an increase
Itaiiv;9. The decrease of the Great Eastern
chathaY i £1,974. The increase in the London,
am, and Dover return is £1,138. The traffic
Of the
let
ehatha ropolitan Extension of the London,
Of
and Dover Railway presents an increase
4608.
A ghee
holdt etwelfth half-yearly meeting of the share-
kite, the Mutual Tontine Association (Li-
u)
. ear at the dividend was declared for the past half
rate of 3i per cent. per annum.

BRITISH FUNDS—CLOSING PRICES.
pertiovEß'sAlzxT Iruans.;
eellt. Consols
D't,„ , 93} 21.3}
i I—w4or Account, Sept 8
ad
lft Cont. Reduced 9lf
li: ra, Per Cent
V 1 per Cont. Jan. 1894
4,44Qh*. ; per Gen J 1,11.1873
Do-ft4lBl ao Yrs, expire stti Jan., 1880 —
/),:;;;1* 30 yrs, expire sth April 1885 —
14„-,, knedQes. Televaph),l9oB —
"oqlt:s.r Bills, £I,OOU, 2f p. Ct. March
--
Batik Do.
3 do. Juno m
£lOO, £2OO 3; £5OO — P
I°kr,lik 0f Bwrland Stock, 41 per Cent
Q 4.6, , p
atn a 'Peoing .
....
I4# - a 4 Per Cent. Bonds
,er..e olonial Ornniuna
14,4i1N.?:441x GOVERNMENT SECURITIEs.
b?l' 'c't°Ck--, 0i per Cont., April 1879
_2ll 10
: °Pettin, for Aczount. .
bov• on. lieut. July, 1880
br,,n).4(,,leriti‘Ceeantet; Oct. 1888
V9i i
"-• r..aurf• dI. 4 • Cent
bo & ace Jan. 1871 '''... lO5l
po' - Por Cent., Jan. 1872 .... .
L • 501 Per Oc-it. May 1879 —
'') " Per Cent., Itup. Deb. 1872
'Do
, do 1877 —
o
J.) b
do. 1882 —
D-•• h° do. 5 per Cent., Aug. 1873
130ndEt, 4.per Ct £l,000
0. under £ 1.000 O-n',
25
L...0.51NG PRICES.
79
4-I.ll:l2,Bfaarifel3sllltopEile:pciGrrip:lsincE,:rplepr S
Cente
__.
11, . . to.
18p5e9r cent
6 •li per Cent. 1852 .....
i.
do 1858....
_
186') .
;.;°' do
_
...,0. 6 •,., 1863 —
BDo per Cent., 1865
e.n,.,4e•o'D. Ullt ....... .....
,--cifikyroty per Vent. woutt/11/111110 IT f