The Sun.
London, England, 1869-12-13 00:00:00

MONEY XARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The progress of the settlement to-day occupied
Most of the attention of brokers, consequently the
prices of Consols remained unchanged from the
closing on Saturday. In the Foreign market the
continuation is at the rate of 4 or 5 per cent. In
Railways Metropolitans have been oversold, and the
principal demand to-day is for Great Northern A
shares. In Telegraph Companies there is no alte-
ration of importance.

Consols are now at 92f to 92 for money;
ditto, for Ac mint, —; Three per Cent. Re-
duced, 914 24 ; New Tkree per Cents, 914 24 ;
Exchequer Bills £l,OOO, March, 5 prem. ; June,
2 7 prem. ; ditto £lOO, £2OO, and £5OO, March,
--- prem. ; June, prem. ; Bank of England Stock,
4.1- per Cent., 238 40.
India Stock, 104 per Cent., April, 1874, shut ;
ditto 5 per Cent., July, 1880, 1111 12 ; ditto 4
Per Cent., Oct., 1888, 1004 ; ditto Enlaced Paper,
54 per Cent., 1104.
In the Foreign Market Spanish are marked 274
to 274 ; Turkish Five per Cents., 444 to 444 ;
the Six per Cents., 664 to 674 ; Italian, 544 to
644 ; Mexican, 134 to 14 ; Egyptian, 78 to 784 ;
Argentine, 854 to 864 ; and Peruvian, 831 to 844.
In the Railway Market Great Northern (A)
is I better, at 1084 to 1094 ; and an improve-
ment of 4 is marked in Great Western, at 554
to 56 ; London and Brighton, at 47 to 474 ;
London and North Western, 1214 to 122. On the
other hand, London and South Western shows a
decline of 1, at 924 to 931 ; North Eastern (Ber-
wick), 4, at 120 to 1201 ; and Caledonian, 4, at
784 to 79. Great Eastern is firm at 374 to 374 ;
Great Northern is steady, at 107 to 108 ; Lanca-
shire and Yorkshire, 1264 to 127 ; London,
Chatham, and Dover, 15 to 154 ; Metropolitan, 831
to 844 ; Midland, 1194 to 120 ; and South Eastern,
774 to 774.
Lombardo-Venetian is 4 better, at 204 to 201 ;
and Great Luxemburg 1-16, at 124 to 124.
The Danubian Railway Loan is firm, at 1 to 14
prem.

American Five-Twenties are quoted at 851 to
858 ; the 1865 Bonds, 841 to 84k ; the 1867 issue,
861 to 868 ; and the Ten-Forties, 82,-1 to 82g. Erie
Shares are 20 to 201, and Illinois 991- to 991.
In Telegraph Shares, Construction and Main-
tenance, show a decline of I, at 241 to 341. French
Cable is 1 lower, at 151 *to 151 ; Anglo-American
is quiet, at 191 to 191 ; and Atlantic Eight per
Cents., at 2 to 21.

In Bank Shares London Joint-stock are 103.
higher, 31 to 32 ; Agra A, ss. lower, 10; to 101 ;
and Imperial Ottoman, 21 to 21 prem. ; Alliance,
121 to 131 ; Anglo-Austrian, 10 to 12 prem. ;
Chartered Mercantile, 31 to 32 ; Consolidated,
41 to 41-; London and Westminster, 581 to 591 ;
London and County, 461 to 47; ; Oriental, 41
to 42.

A decline of is to 2s per quarter has been estab-
lished in English wheat.

There were no bullion operations at the Bank
on Saturday.
The Hanover, from Havanna, has brought £5,600
in specie.

The following is from the Liverpool Journal of
Commerce of Friday :—" The firm alluded to yes-
terday, connected with the timber trade of Hull, as
having suspended payment, is that of Messrs.
Leaven, Ford, and Co. Their liabilities, it is stated,
will not exceed £30,000, and it is expected that the
liquidation will prove favourable. Only one firm
in this town is interested to any amount."
A meeting of the Trinidad Petroleum Company
(Limited) is called fur the 16th inst. to receive the
report of the liquidators.
With regard to the Brighton and Great Eastern
Railway Companies, the Railway News observes
that, as the recent traffic returns have been disap-
pointing, there must have been special causes for
the late improvement in prices. Both companies
had exceptional charges against revenue in the latter
half of 1868 which will not be repeated, and the
Managements of both have turned their attention
lately to reduction of expenses as a source of in-
creased net revenue, failing immediate improvement
of traffic. Iu the case of the Brighton, great exer-
tions have been made to cut down the mileage of
unprofitable trains, resulting in the first half of the
year in a decrease of 120,000 train miles as com-
pared with the previous year, a reduction which it
is expected will be exceeded i❑ the present half. It
is said to be most improbable that the latter com-
pany may have saved £20,000 in the present half,
as compared with the corresponding period of 1868.
It does not appear that the Great Eastern
has yet effected very large savings, although
a more decided result is promised shortly. Both
Companies will suffer this half year by exceptional
Misfortunes. The Great Eastern will lose £15,000
net by the failure of its agent, Pepper ; the Brighton
12,500 or £15,000 more in extra compensations.
But for these losses, the Great Eastern dividend
alight have been 2 per cent per annum, and the
Brighton 3 per cent. or more. The prospects of the
Brighton Company will be considerably improved
by the traffic from the East London, and also by the
proposed revision of the fares to come into effect on
the Ist Jan. The Great Eastern will also benefit
by the completion of the East London, all differ-
ences in dispute between those companies having
now been arranged. Another very important fact
in connection with the Great Eastern Railway is
the successful manner in which the recent issue of
debenture stock, for the completion of the Metro-
politan Extension, has been made. The whole is
understood to have been taken by the shareholders
among whom it was allotted.

The accounts from Havanna describe the detec-
tion of enormous Custom-house frauds through the
vigilance of Senor Santos, a newly-appointed In-
tendente. This will be followed by many reforms,
and the Intendente, it is said, will almost imme-
diately have ready for publication " a new tariff
and new regulations, giving many facilities to
foreign commerce and its agents among the fair
dealers never before known in Cuba."

With reference to the determination of almost all
the respectable members of the commercial commu-
nity to have, as a general rule, nothing more to do
with joint-stock companies so long as the law re-
mains in its present state, a correspondent calls at-
tention to the fact that much of the evil has arisen
from a discrepancy in the clauses of the Act 24 and
25 Victoria, cap. 96, which relates respectively to
trustees and directors. While a trustee is rendered
liable to prosecution for misdemeanour, a provision
to protect him against vexatious or malicious pro-
ceedings is inserted, to the effect that no such action
shall be commenced without the sanction of Her
Alajesty's Attorney-General. The next clauses,
which relate to directors, are without any such re-
striction, and, although directors are nothing but
trustees, they are left to the possibility of being at-
tacked in the criminal courts by any one of the
hundreds of shareholders to whom they are respon-
sible, and whose individual holding may, perhaps,
be limited to a share of £5 or £lO.

BBITIBII FIIIIIIIS—TWO •'OLOCK.
GOVERNMENT FUNDS.
per Cent. Consols
Ditto for Account, Jan. 6
3 per Cent. Reduced 9li 2i
New 3 per Cent
ow 21 per Cent. Jan. 1894
Do. 5 per Cen J an. 1873
Annuities, SO yrs, 6xpiro sth Jan., 1880 —
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sett Tele6raph), Aug., 1908 —
Exchequ:lr Mils, £l,OOO, 2j p. Ct. March par
D. 3 do. Juno
D 1 £lOO, .£2OO & £5OO — put
Bank of England Stock, 4 per Cent
Do. opening
---
Canada 4 per Cent. Bonds
Inter-Colonial On:initial

INDIAN GOVERNMENT SECURITIES.
India $ Lock, 10k per Cent., April 1874 Shut
Dc. Opening, for Account —
Do. a per Cent. July, 1880
Do. 4 pee Cent. Oct. 1888
Do. Certificates —
Do. Enfaced Pape., 4 per CAnt.. ... —
Do. 5 per Cert., Jan. 1872 .. ..z. —
Do. 5f per Cent. May 1870 llOl
DJ 5 per Cent., Buis): Defr. 1872..
Do do. 1€417,...) —
Do. do. 1882 —