The Sun.
London, England, 1869-05-06 00:00:00

MONEY- MARKET

AND

COALMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
RISE IN THE BANK RATE OF DISCOUNT.

The Bank of England has raised the rate of dis-
count I per cent., the official minimum being now
4i per cent. The previous change was made on
the ist of April, the rate of 4 per cent. having thus
only continued five weeks.

Consols are 931 3 4 3 for money; ditto, for Ac-
count, 93i ; Three per Cent. Reduced, 911 ;
I\rew Thee per Cents, 911 ; ditto 21 per Cent.,
75:1fi ; Exchequer Bills £l,OOO, par; ditto 1100,
£2OO, and £3OO, par ; Bank of England Stock, 4
per Cent., 242.

India Stock, 10. per Cent., April, 1874, 211 ;
ditto 5 per Cent., July, 1880, 104:1 -3-; ditto 4 per
Cent., Oct., 1888, 1001 ; ditto linfaced Paper,
5 per Cent., 1051.
itln the Foreign Market Brazilian are quoted
79i to 79:1 ; Cbilian (1867), 961 to 9:1 ;
Egyptian (1861), 86 to 861 ; ditto Railway Deben-
tures, 981 to 984 ; ditto (1868) 75 to 75i ; Viceroy's
Seven per Cents., 80 to 801 ; ditto Nine per Cents.,
97i to 97a; 561 to 56:1 ; Tobacco Loan,
851 to 861 ; Peruvian, 77 to 771 ; Portuguese, 34;
to 3113 ; Russian (1862), 831 to 844 ; Orel and
Vitebsk, 77!), to 781; Nicolas, 631 to 6.1; Moscow
Jaroslaw Loan, 79 to 791 ; Charkof, 761 to 77 ;
Spanish, 28k to 281; Turkish Five per Cents.,
42k to 421; ditto Six per Cents., 66i to 66i.
_

„ .
In the Railway Market there has been a fall.
Great Eastern, 37 to 37; ; Great Northern (A),
108 to 1081; London and Brighton, 471 to 47k ;
London„ Chatham and Dover, 178 17i ; London
and North Western, at 115 to 1151; Metropoli-
tan, 1021 to 1021. Caledonian is unaltered, at
771 to 781 ; Great Western, 484 to 498 ; Lanca-
shire and Yorkshire, 123 to 1231 ; Midland, 113
to 1131 ; and South Eastern, 751 to 75k.

American Bonds are 791. to 801 ; Erie, 191 to
20 ; Illinois, 98 to 981 ; and Atlantic Bonds, 241
to 251.
In Bank Shares there has been a fall of 1 in Lon-
don and Westminster, the price being 62 to 63.
Agra is quoted at 10i. to 104 ; Alliance, 131 to 13; ;
Anglo-Austrian, 18 to 19 ; Chartered Mercantile,
30i to 311; Consolidated, 4i to 4i ; London and
County, 491 to 501 ; and London Joint Stock,
311 to 321.
There were no gold operations at the Bank yes-
terday. The only transaction during the week
since the date of the last return has been a with-
drawal of £50,000.
The _Donald M‘liay, from Melbourne, has brought
£54,000.
The Board of the Caledonian Railway Company
have issued a reply to the recent statement of the
north British Company regarding the joint purse
agreement between the two companies. They offer
what purport to• be specific replies to the several
charges against them, and conclude by asserting
that these replies will satisfy the shareholders that
the termination of the agreement is not, as alleged
in the North British statement, the act of the Cale-
donian Board, but that the North British directors
are alone responsible for it. In these circumstances,
before the two companies get into a hopeless quarrel
to the damage of the shareholders' property, would
it not be well for the respective boards to ascertain
whether the breaking off of the agreement is desired
or intended on either side ? Both parties seem to
regard the event as an evil, and they bandy back-
ward and forward the responsibility of having
Caused it.

The Mexican Bondholders' Committee hare issued
a report of their proceedings from March, 1868,
the date of their appointment. It states that Mr.
E. J. Perry, a British merchant in Mexico, has
been charged to represent their interests, he having
consented to do so without any claim for remunera-
tion, except in the event of his efforts resulting in
a settlement. The Mexican Government pronnied
to furnish Mr. Perry with a proposal by the end of
November last, but wholly neglected to do so, and
ill January communicated to him their determina-
tion to rob the bondholders of thir rights, on the
pretext that they had recognised the Emperor Maxi-
milian, and had conformed to certain arrangements
at his hands. Un hr the circumstances the Com-
mittee propose shortly to convene a public meeting
to take the of inion of their constituents as to the
course to be pursued. At that meeting the Commit-
tee Will submit a form of memorial for presen.ation
to the British Foreign Office.
Alderman Sir Sydney 11. \Vatcrlow, the chair-
man of the Improved Industrial Dwellings Coin-
PanY (Limited), has issued a circular stating that
It is proposed, with the view to close the capital
account, to restrict the share capital, which now
amounts to £106,150, to a total of £125,000, and
that as a similar sum may he borrowed from the
Government under the operation of the Labouring
Classes' Dwellings Act, 1866, the aggregate capital
will then be a quarter of a million sterling. The
principal object is to remove the prevalent disbelief
1,4 the profitableness of such undertakings. This can
has
be done by showing that a large sum of money
has been invested in providing decent and comfort-
able homes for workmen in variousparts of London
at an average annual profit of at least 5 or 6 per
"at ; and although the profit of each separate in-
vestment can already be shown by a comparison of
the net rental with the cost, general results will be
most effectively and conclusively established by the
closing of the capital account of the present coin-
PanY, and by the publication 61 balance sheets
exhibiting the details of a series of investments upon
large scale. The share capital of 5.18,250 still
un.allotted is offered Preferentially to shareholders
whomay desire to increase their present holdings,
provided the applications are sent in during the
present month.
The submarine telegraph cable between Den-
mark_ and Liebau (Russia) has been successfully
completed by Mr. W. T. Henley, of North Wool-
leh. The total length is about 300 nautical miles
iwti
two sections, one being from the island of Moen
to Bornholm, and the other from that place to
lalehan. The former section was completed last
December, but the weather prevented the steamer
La Plata, which had both sections on board, from
attempting_ to lay the latter till the present time.
4urther section of the same system of cables to be
laid
1 i between Scotland and Norway is near comple-
tion at Mr. Henley's works, and will be laid this
Month, weather permitting.
The biddings for £350,000 in bills on India were
held yesterday at the Bank of England, when the
amounts allotted were—to Calcutta, £335,000 ; and
to Madras, £14,100. The minimum price was fixed
at is. 11d. on both presidencies. Tenders on both
presidencies at ls. llid. will receive about 20 per
cent. ; those above that price in full.
The report of the Scottish Australian Mining
.Company (Limited), to be presented on the 14th
tan., shows an available total of £7,385, and re-
commends a dividend at the rate of 8 per cent. per
a
num) Which will leave £2,255 to be carried for-
Ward.

The report of the Trust and Agency Company of
Australasia (limited), to be submitted on Monday
next, shows an available balance of £20,466. After
"chug £lO,OOO to reserve fund, the directors re-
commend the usual dividend and bonus of 33. per
share, making with the interim dividend, a distri-
bution of 20 per cent, for the year. The sum of
£2,966 will remain to be carried forward. The re-
serve fund is now C)0,000, of which £40,000 is
vested in Consols'
At the annual meeting of the Sovereign Life-
ee yesterday the retort stated that the new pre-
miums received last year amounted to £9,469,
asuring £300,830.
CThe report of the Scottish imperial Insurance
ompany for the year ended the 31st of December
shows that the fire revenue was £19,826, while
the losses were £7,987, and that life assurances were
completed for £141,825, producing annual pre-
Miums of £'3,962.

FOREIGN FIINDS—CLOSING PRICES.
GOVERNXENT FUNDS.
3 per Cent. Consols
bitto for Account,
~ PQr Cent. Reduced Pli 931
3
'NOW 3 per Cent