The Sun.
London, England, 1869-05-17 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

The Stock Exchange was closed to-day.
The demand, however, for money has been mo-
derately active at 4i per cent.

The corn market has been dull at last Monday's
currencies.

There were no gold operations at the Bank on
Saturday.
The Republic of Ecuador seems now about to
join the dishonest fraternity of which Mexico and
Venezuela stand at the bead. The President of
that State intimates that, in order to meet the ex-
penses consequent upon indulgence in perpetual
borne conflicts, he finds it expedient to rob the
foreign bondholders of the slight payments hitherto
guaranteed to them by a lien on the customs. At
the same time he informs them that a contract for
debt ceases to be binding when there is a impossi-
bility of fulfiling it, the debtor himself being the
party by whom the question of possibility is to be
decided. Considering that the Custom dues are
actually collected by the Government, and that the
bondholders claim only 23 per cent. of the amount
thus tangibly obtained, it might be hard, if it were
not for the President's dictum, to understand in
this case how there can be any difficulty. The
President points out as an additional reason for
default the " onerous" conditions of the stipula-
tions enjoyed by the bondholders. These stipula-
tions were made 14 years ago, and practically con-
sist of an engagement to accept one per cent. per
annum for bonds which were issued to carry 6 per
cent.—even this poor composition of 1 per cent.
baying been allowed to some extent to fall into
arrear. A meeting of bondholders is to be called
after the next mail, and whatever course may
be
adopted, it is to be hoped the committee will
ab-
staine from addressing the Government with fine
phrases about confidence in its honour, and simply
confine themselves to such communications as may
be absolutely necessary. The class of offenders
among whom they have fallen would simply derive
additional zest from hypocrisy on the part of their
victims.

The Neva sailed to-day with £40,800 in silver,
and £lOO in gold for the West Indies. A further
amount of silver is expected to be shipped.
Messrs. Harrison and Fripp, oil and seed brokers,
of Leadenhall-street, have stopped payment, in
consequence of losses in oil and tallow, but chiefly
in the former article. Their liabilities, however,
do not exceed about £B,OOO, and a dividend of 10s.
in the pound appears to be expected. With refe-
rence to the recent heavy speculations in tallow, it
is rumoured that the losses of one well-known ope-
rator reach something like £30,000.
The failure is also announced of Messrs. G. Eil-
beck and Co., warehousemen, of Milk-street, with
liabilities computed at £15,000, of which a con-
siderable portion is due to Manchester houses. A
favourable liquidation is looked for.
The committee of Venezula bondholders have ad-
dressed, through Messrs. Baring Brothers and Co.,
a memorial to the Government of Venezuela, re-
questing the payment on account, or deposit with
third parties, of the 10 per cent. of customs as-
signed to the British debt, pending the proposed
arrangement. Thereupon the Government of
Venezula have given an answer to the effect that
they have seen with satisfaction that the committee
do them justice by acknowledging their honest
intentions ; that it will be gratifying to them to
welcome the commissioner announced, charged with
instructions to settle definitely the claims ; that
they regret that the law does not enable them to
pay on account or deposit the 10 per cent. pending
an arrangement ; but in order to give an earnest of
their rectitude and good faith they have given
express orders to the collectors of customs to remit
the 10 per cent. to the capital, to be deposited with
the Board of Public Credit, until an arrangement
shall have been entered into. The commissioner
alluded to, it is stated, is likely to leave England
for Venezuela in the month of July next.
Advises from Paris announce the issue of the
Honduras supplementary loan for £2,000,000, the
proceeds of which are to be employed under trus-
tees in completing the Inter-Oceanic Railway con-
tracted for by Messrs. Waring Brothers and
APCandlish from sea to sea. The loan is issued in
207,509 obligations of 300 f. (.£l2), at the price of
225 f. (en
bearing 20f. (165.) interest, and to be
redeemed at par within 17 years by half-) early
drawiE„. The subscription-list will be opon in all
the ;
Pr.ncipal cities of the Continent from the 19th
to the 25th inst. A syndicate of foreign bankers
has taken absolutely 62,000 out of the 207,509
obligationss and thus far the success of the opera-
tion is insured.
According to a statement of Messrs. Richard
Symonds and Son there seems likely to be a con-
siderable increase in the manufacture of imitation
"champagnes," " sparkling hocks," and " sparkling
moselles." From a circular issued by some Belgian
chemists it appears that they have patented a ma-
chine for the manufacture of such imitations. The
produce can, it is stated, be sold at a franc a bottle,
or less than 10s. per dozen, and yield a profit of
more than £3O upon 1,000 bottles. with the addi-
tional advantage that the " residuum " can be
" Instantaneously made into vinegar." A list is
given of 93 houses to whom, among others, the
right to use the patent has been conceded, and as
this list is described as the third, probably the con-
cession has also been extensively made in Germany
and elsewhere. No doubt, considerable quantities
of these imitation wines will find their way from
France and Germany to this country, and be sold
as the genuine products of Champagne, the Rhine,
and the Moselle.

NRITISU FUNDS-CLOSING PRICES.

SATURDAY.

---
3 UOVERNMENT FUNDS. - - -
Per Cent. Console
Ditto for Account,
8 per Cent. Reduced 9l}
New ew 3 per Cent
Do, 521 per Cent. Jan. 1894
per Cen J an. 187 3
Annuities, 80 yrs, expire bth Jan., 1880 —
Do. for 30 yre, expire sth April 1885 ll 15-16
Do (Red Sea Televaph), Aug., 1908 —
Exelicquzr Bills, £l,OOO, 21 21 per Ct —
Do £6OO
Do. £lOO Je £2OO lO dis
Bank of England Stock, 41 per Cent
D. opening
Canada 4 per Cont. Bonds
Inter-Colonial Uninium
INDIAN (10VERNDIENT SECURITIES
India Mock, 101 per Cent., April 1874 —
Do. Opening, for Account
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enlaced Pape. 4 per C5nt.......
—.
Do. 5 per Cent., Jan. 1872
Do. 51 per Cent. May 1879
Da $ pet Cent., Rup. Deb. 1872 —
Do do 1877 —
Do. do. 1882 —
D.. Deb., 6 per Cent., Aug. 1878
Do. Bonds, 4 per Cent., £1,000
Do. under £l.OOO

ArgentlirnOeßßEepluGbilicF, 817pNeri)
Ca— 7
oatOLOSING 7 TES.
Do., Scrip 445 paid
D
luttrian Bonds 6 per cent .. —
o.
Brazilian 5 per Cent 1859
_
Co. q per Cent. 1852
Do. do. 1858....
Do. de. 186 ) —
1)o. do., 1863 —
Do. 6 per Cent., 1865
Ijo Account 79 81
it :'enos Ayres 6 per Cent.
_, u 2 per Ceut. (Deferred 3 per Cent )
ctoia, 6 per Cent.
U..iiian 6 per Cent —
Do. g per Cent - -
Do. 3 ps): Cent.,
1 0. 6 per ce,it. 1867 —
Lc). 7 per Cent
1866 -
0 lornbian, 6 per Cent.
Danish, 3 per Cent., 1825
Dan. Lian Principalities, 7 ler Cent 76
Do 8 per Ceut., 18::7 —
Equalor New Consolidated, 1 per Cent.
Ecyptiee, 7 per Cent.... —
Du Sticoad issue -
Do. £10) Bonds
•••••
Du. 1864
Do. Account
Do. £5OO Bonds
Do. £loc Bonds B6} 7
English Scrip,:l868
d frib pd — die
Government Railway Debentures
Greet 5 per Cent., 1.824 5, ex Coups. —
Do. Account
De. Coupons
Do. A• •
Account

'3.tatemala 5 per Cent .. 7O
Honduras Gov Rail. Loan., 10p. Ct., all pd 82i
tt..iian 5 pet Cert., 1865
o. Account

Do bltrominana Railway —
,texicai... 3 per Cent
Ditto for Account
Do. 1864
Do g per Cont. Anglo-French
lontevidean 6 per Cent. —
••
dc'rish imperial 5 per Cent
!iew Granola
Do 3 per Con 37
Do. Deferred
Peruvian 5 per Cent. 1865
Do Account
.. 761 7
Do 41 per Cont. (Ui:'barron) •••
Do 41 per Cunt.. 1862 -. —
Do Account
Po-taguese 3 per Ct., 1853, '6, 7, '9,'60,'2,'b 34i
Do. do. 1867 —
Do. do. Scrip,.. .£2O paid —
Russian 5 eor Cent. 182 z, £ St
Do 41 per Cent . 1850'
Do 41 per Cent, 1860
Do 3 per Cent., 1859
Du 5 por Cent., 1862
Do do, Scrir — Pl -
Do. Anglo‘Dutcb, 1861, .£lOO Bonds., 89
Do.
do.
Do., 1866, £lOO Bonds
881
Do. do £B4 15s. do —
£B4 15s. do —
Do Nicolas Railway —
Sar boleti 6 por Cent —
Spanish 3 per Con
Do. Aetv,unt ...
Do. 1867
Do. Account
Do. New Deferrou
Do. Account
Do. Passive —
Do. Cum. Cert. of Coup. not funded
Do. Account.
Swedish Provincial Mortgage Loan —
Do Government, 1864
Du do, 1868
Turkish 6 pi:r Cent. ....,..
Do Account

Do 6 per Cent. 1858
Do Account
Do ££loo Bonds
Do 6 per Cent., 1862

Do Account
Do XIOC Bonds 67i
Do 5 per Cent. 1865 —
Do Account
Do 6 per Cont., 1863 65 I
Du 4 per Cent., Guaranteed
Do Laud Warrants (Hectares)
Venezuela 3 per Cent. —
Do. Account
Do 6 per Cont. 1862
Do 6 per Cent.
Dividends on the above payable in Lositot.
Attains," o per Cent. Ex 10 Florins
Belgian, 4} per cent., Lx. 25f.

DuiCh 2} fee. Cont. Ex. 12 Guil.,
Do. 4 per Cent. Certificates .....
Do. Account
French Rentes, 3 per Cont.. Ex. 25f. —
I Whit, 5 per Cent. 1851, Ex. 25f.
Do Account 56
CLOSING PRICES.

Oonsols, Money 521 I-
Do. Account, June 1 921 1

LATEST INTELL LGENCE

(REUTER'S TELEGRAMS.)

AMERICA.

SOUTHAMPTON, May 17.

The North German Lloyd steamer Donau, from
New York, arrived here this morning. She brings
264 passengers for this port, Havre and Bremen,
39 sacks of mails for London, and $1,200 in specie
and a large cargo for Bremen.
On the 13th the Donau spoke the English barques
Salicia, bound east ; Sarah Douglas, bound for
Liverpool ; the ship Lady Milton, bound west ;
and the North German barque Anne, bound east.