The Sun.
London, England, 1869-05-20 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
At the usual meeting, held to-day, the Bank
directors made no change in the offi.lial rate of
discount. The Bank rate therefore continues at 4i
per cent.

To-day the forty-fourth yearly general meeting
of the Provincial Bank of Ireland was held at the
premises of the bank, Broad- street. The directors
intended to pay, in July next, as in several past
years, an extraordin iry dividend of 30s. on each
£lOO share, and 19s. on each £lO share of 'the
capital stock of the bank, in addition to the ordi-
nary dividend of four cent.
Consols are 921 for money; ditto, for Ac-
count, 92-1- 3 ; Three per Cent. Reduced, 911 1 ;
New Three per Cents, 911 4 ; Exchequer Bills
£l,OOOl —; ditto £lOO £2OO, and £5OO, ;
Bank of England Stock, 4 per Cent., 2455.
India Stock, 105 per Cent., April, 1874, 210 12 ;
ditto 5
per Cent., July, 1880, 1145 ; ditto 4 per
Cent., Oct.., 1888, ; ditto Bonds £l,OOO, 5 prem.
In the Foreign Market there has been a rise of 1
in New Spanish Three per Cents., at 285 281 ;
5 in Turkish Five per Cents., at 421 421 ; and
Italian Five per Cents. are fractionally better, at
55i 55.1. Mexican Bonds are unchanged at 121 13.
Argentine Six per Cents., 771 to 781 ; Egyptian
Nine per Cents., 97 to 971; Egyptian Seven per
Cents.,
1868, 75 to 755 ; Turkish Six per Cents.,
1865, 641 to 641 ; and Venezuelan Six per Cents.,
1864, 20 to 22.
The Honduras Loan is 82 84 ex coupon.
In railway shares prices have in some instances
improved. Great Western, North Eastern, North
Western, and Midland have risen 1, and Caledonian
stock is
better. South Easterns and Shethelds
have receded 1 ; and Chatham and Dover and
Great Easterns are 5 lower. The prices are as
follows
:—Caledonian, 77 5 ; Great Western,
475 ; Great Eastern, 37 1 ; Great Northern,
105 6 ; ditto A, 1051 65 ; Lancashire, 122 5 ;
Metropolitan, 971 4 ; Midland, 1101 1 ; Shef-
field, 524 3 ; Brighton, 45 5 ; North British,
34 ; Westein, 115 1154; North Eastern,
1031 41; South Eastern, 741 5 ; Chatham and
Dover, 161 5.
American Five-Twenties are 771 78 ; the 1885
Bonds, at 754 754; and the Ten-Forties are un-
altered, at 711 715. Eries have deelined 5, to 181
19; and Illinois centrals are 1 lower, at 941 941.
The discount demand at the Bank bas been full,
but not excessive, and as a payment of more than
£1,000,000 has been made by the Indian Council
to the guaranteed shareholders of the Madras Irri-
gation and Canal Company in completion of the
terms by which the Government take over that
undertaking, a proportionate degree of ease has
been temporarily imparted to the open market.
There were no gold operations at the Bank yes-
terday. The transactions during the week since
the last return has consisted of an influx of £93,000.
The Wellesley, from Melbourne, has brought
£26,000.
The biddings for £350,000 in bills on India were
held yesterday at the Bank of England, and the
amounts allotted were to Calcutta £329,000, and
Madras £21,000. The minimum price was fixed at
ls. 101 d. both on Calcutta and Madras, being a re-
duction of 1 per cent. No tenders on Bombay were
invited. Tendeis at ls. 105 d. will receive about 89
per cent. ; those above that price in full. These
results show a considerable diminution in the de-
mand for means of remittance to the East.
New York advices state that the parties by whom
the Erie Railway is at present controlled have con-
trived to introduce into the State Legislature a bill
which virtually perpetuate their power, and that
it has passed both Houses, and merely awaits the
signcture of the Governor to become law. Great
efforts, however, were making by the most respec-
table people in New York to secure a veto from the
Governor.

It is understood that at the approaching meeting
of the Ottoman Bank the directors will recommend
a dividend of 121 per cent. for the year 1868, be-
sides au addition of about £30,000 to the reserve
fund, and the carrying forward of a balance of about
£B,OOO. _ _

At a meeting of the Anglo-Egyptian Banking
Company (Limited) a dividend at the rate of 10
per cent, per annum was declared for the six !maths •
ending February last.
A special meeting of the Great Western Railway
Company will be held on the 3d of June, when
certain bills, now pending in Parliammt, will be
submitted for the consideration and approval of the
meeting.
The directors of the Anglo-American Telegraph
Company have resolved to recommend a dividend
of 17s. per share at the annual meeting on the 14th
°f June. This sum of 175., together with the three
interim dividends of 10s. each per share already
paid, will make a distribution of over 24 per cent.
for the year.
The following relates to the Suez Canal :
" 21, Regent-street, May 19.
" Sir,--With reference to the arrangement just
made between the Egyptian Government and the
Suez Canal Company, the substance of which ap-
peared in your City Article of this date, I beg to
enclose the letters from his Highness the Viceroy
of Egypt to M. Lesseps, from which it will be
fSeen that the proposal to effect the arrangement
now concluded emanated from M. de Lesseps him-
self, who, cordially cD-operating with his Highness
h divesting the undertaking of all political charac-
ter, has clearly defined (what has always been put
forward) that the Isthmus of Suez Canal is nothing
more than a great commercial enterprise on
Egyptian ground, subject to the laws and institu-
tions of the country.-1 have the honour to be, sir,
your very obedient servant,
" DANIEL A. LANGE,
English Representative and Director of the
Suez Canal Company."
At an adjourned meeting of the creditors of Mr.
Charles Bennington, manufacturer, of Blackburn,
an offer to pay 10s. in the pound was accepted ; the
instalments to consist of ss. in three months, 2s. 6d.
in six months, and 2s. 6d. in nine months, the last
two instalments to be guaranteed.
An abstract has been published of the agreement
between the Metropolitan Railway Company and
the Great Northern Railway Company, to hp sub-
mitted to the special general meeting, convened for
the 25th inst. The object of the agreement is to
enable the Great Northern Railway Company's
trains to run direct to the Metropolitan Company's
station at Moorgate-street, in the City. The direc-
tors recommend the agreement to the proprietors
for approval.
The Manchester Courier intimates the failure of
the firm of Messrs. Whan, M'Lean, and Co., of
London, and Ontario, Canada. Their liabilities do
not exceed £30,000, and the only firms affected are
in Glasgow and Canada.
A petition for the winding up of the " North
Kent Railway Extension Railway Company" is
to be heard before the Vice-Cnancellor James on
the 29th instant.

ERITIEU FUNDS—TWO O'CLOCK.
GOVERNMENT FUNDS.
8 per Cent. Consols
Ditto for Account,
8 per Cent. Reduced 9ll 11
New 3 per Cent
New 2i per Cent. Jan. 1894
Do. 5 per Cen .I%n. 1873
Annuities, 80 yrs, expire sth Jan., 1880 —
Do. for 30 yrs, expire sth April 1885 - -
Do (Red Sea Televaph), it ug., 1908., —
Exchey:w Bills, £l,OOO, 21 21 per Ct - •
Do £5OO
Do. £lOO 87, 2OO —
Bank of England Stock, 44 per Cent
D.?. opening —
anada 4 per Cent. Bonds —
ter-Colonial Uranium —
INDIAN CIOTERNMENT SECURITIES
India Stock 101 per Cent., April 1874 2lO 12
Do. Opening, for Account _
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 180 —
Do. Certificates
Do. Dnfaced Pup, 4 per Cent..... "
Do. 6 per Cent., Jan. 1872 ~....... —
Do. 5i per Omt. May 1879
DJ 5 per Cent., Rup. Deb. 1872 _
Do do 1877 —
Do. do. 1882 —
1.)-..:. Deb., 5 per Cont., Ang. 1873'., —
De.Bende, tP! Cent., 41,000 tto
Pul