The Sun.
London, England, 1867-02-23 00:00:00

TO THE EDITOR OF THE SUN.

Messrs. J. S. Morgan and Co., request the inser-
tion of the following letter, which they have re-
ceived from Senor Don M. Errazuriz, the special
agent of the Republic of Chili, in consequence of a
communication made to him by them on the sub-
ject of the proposed issue on this market of the
Internal Conversion Bonds, which have been the
subject of recent remark

" London, Feb. 22.
" Gentlemen,—l have considered, with the atten-
tion due to the gravity of the subject, the represen-
tations which you have made to me as agent of the
Chilian Government, to the effect that serious im-
Mations attach to my Government for not having
communicated to you previous to the issue of the
late loan the, fact that the loan of about five million
bdollars, which in August last was contracted with
ankers in Chili, was to be represented by sterling
cis, the interest and sinking fund of which would
be payable in England.
good
." 1 cannot admit that there has been any want of
faith on the part of my Government, who
iPCould not have made the communication which it is
't
lggested tliey ought to have made, inasmuch as the
o fale elapsing between the declaration by the holders
the bonds that they availed themselves of the
o°Ption reserved to them by their contract with the
11-n°4term:tient, and the issue of the recent loan did
suffice
tngian to convey the information from Chili to
Gov There certainly was no desire on the part of my
I,eruatent to withhold any information connected
tirthe loan in question, as is perhaps best e i-
eed by the fact that all the particulars of
oe contract for that loan were submitted to the
lurnittee of the Stock Exchange on the applica-
_
rem for a
cently settlement and quotation of the loan
issued by 3 -our house.
(3.o`._` Feelink.r, however, most strongly that the Chili=
fz Jernineut desire not only to observe perfect good
1:c, but scrupulously to avoid any semblance of a
the of straightforwardness in their dealings with
public, l‘ as their only representative (although
",`"Y possessing speciac powers in England), have
with it my duty to put myself in communication
ith the gentletnen in London who represent the
abondholders of the Internal Loan Conversion Bonds,
blid have urged on them to postpone offering their
tirds for public subscription until I could represent
tl e circumstances to my Government. These gen-
t enaeu at once acceded to my suggestion, and will,
uY the next mail, communicate with their principals,
between Whom and the Government I trust satis-
-2
t',"orY arrangements may be made for postponing
,e proposed issue, which, in any event, will not
take place until further instructions have been ;eivere-
from Chili. These instructions cannot be
looked for before June next. •
44
•an conclusion, I can with every confidence as-
dure you that the course which my Government may
decide
!desire on adopting will be dictated by that earnest
which had ays animated them, of maintain-
!rug the high credit which Chili enjoys in Europe.--
am, Gentlemen, your obedient servant,
Messrs.
"MAX. ERRAZURIZ.
" Speci
S. al Agent of the Chilian Government.
J. Morgan and Co, 22, Old
Broad- street."

Two O'CLOCK.
According to Reuter's telegram from Paris to-
day, the drench Rentes were 69f. 85c. Firm.
Notwithstanding extreme inactivity, values at the Stock Exchange have closed buoyantly. Con-
'.°lB, for example, are 90k 91 for money, and gc,
15-16 91 1-16 for the account, the latter show-
ing an almost infinitesimal advance.
All Foreign Securities, despite
te.
the fluctuations of
the Week, are better at the finish , American Secu-
ries, likewise, are slightly in the ascendant,
yfirmness.and nglish Roailwa Shares manifest greater
tem these and other circumstances there is plenty
et evidence to show that the public have been
" bears," and are now disposed in most cases to
claee their 'th accounts with substantial profits.
on e New Threes and Reduced Annuities were
lands; Exchequer Bills, 17s. prem. ; Bank of Eng-
Stock, 254 ; India 5 per
Cents., 107 ; do.
Z,nfaned 4 per Cents.,B4 ; and do. Bonds,. 30s. to
8. Prem.
n
f,..l:Oreliv
6 Stocks generally show a slight advance.
"mian Scrip has improved to 11 dis. ; Russian
oeri„ ,
t° 2/ /1- prem. ; Mexican to 171 k ;
?hre:er,it' •
t° 16 4 ; Spanish Passive, -4- to 224 23 ;
per ‘jat to 141 15 ; and the Turkish 5
6e4n.ts• to 31
534 Italian Loan were firm at
to The Danubian Loan Scrip has improved to par
s prem.
ttA l'lner tone has prevailed in the Railway Share
eir:tktert' and prices generally have tended upwards.
Welt:astern, Lancashire and Yorkshire, North-
earZt7al Metropolitan,and South-Eastern have
each 4nproved ;
a- Great Western and Midland,
; and Brighton 11.
aa3, aV°reign and Colonial lines remain without
i,"eratinn of importance, Bahia and San Fran-
-10 seoring marked 12k, Great Luxembourg 12,
1051 ladi4ll 1061, and Great Indian Peninsula
i•
414,4 z ,
tile of rklares remain inactive. Chartered Mercan -
/1-ndia, London and China, have improved to
ef andlVestninster, to 911; and Union
have•-.4urall•
Australia to
too7l ; while London and County
kicieeliaed 63i
rate feellaneens and Finance shares are in mode;
16i I,ilnest ; City of Moscow Gas are dealt in a
tlectri ; Anglo-American Telegraph at 15k ;
Nay. tt 'elegraph at 134 ; Hudson's Bay Coin-
at 66. 161 ; and Peninsular and Oriental Steam
Alucli
usiness b prevails in the market for American
Erie shSecuritie'' -Illinois have declined 1, to 761 77-1.;
sc)n area are firm, at 37 ; but United States
Bo ,
Atia,lt.`44 'lave advanced if, to 731-
'lave ad Le and Great Western Railway Debentures
ttort,,,,:aiGnee to 31 32, and the Consolidated
-pe 'cniclB ,to 24 25.

MINING MARKET.
Ann.,Ann.,— , SATURDAY, Two o'Clock.
.: ar® the current quotations
tales "ci.‘-olciaborne„ s ; Chivortos, Moor, 7 7, ; Chou-
' 2i 2i; Clifford Amalgamate, 51 6 ; Cooks'
DrltkeWollS, East Bassett 17. 19

East Caradon, 5 5 ; East Carn Brea, 3+ ; East Love
10f ; East Russell, n ; East Wheal Grenville, 2121;
Great Laxey, 16 17; Great North Downs, 31 4 ; Great
Retallack, 60s 725.; Great South Tolgus, 12s 6d 15s;
Great Wheal Vor, 16 17 ; Marke Talley, 4 41; North
Crofty, 41 5; North Roskear, 7 8; North Treskerby,
21 2f; Prince of Wales, 32s 355; Prosper United, 31 1;
Redmoor, 9s lls; South Condnrrow, —s —d; Sonth
Grenville, 7s 6cl lOs ; south Ilerodsfoot, —; Tincroft, -
-; West Caradon, ; West Chiverton, 60 62 ;
West Seton, 1321 1371 ; West Drakewelle, 5e 78; Wheal
Basset, —; Wheal Buller, —— ; Wheal Chiverton,
8 81 ; Wheal Grenville —; Wheal Seton, 105 110.

BRITISH FUNDS—CLOSING PRICES.
OCVERNMENT FUNDS.
per Cent. Consols
Do. Account, March 7 9O/ 1
1 per Cent. Reduced 904 a
Jew 8 por Cent 9Ol 4
NOW 21 por Cent. Jan. 1894
Do. 5 per Cent. Jan. 1873
Annuities, 30 yrs, expire sth Jan., 1880
Do. for 30 yrs, expire sth April, 1885 —
Do (Red Sea Telegraph), Aug., 1208 —
xchcquer Bills, £l,OOO, 4 per Cent l7 pm
Do £5OO
71 17 pm
Do £lOO & £2OO , 17 pm
Bank of England Stock, 61 per Cent .... 254
INDIAN GOVERNMENT SECURITIES.
Indian Stock, 104 per Cent., April 1874...
Do. Account
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates
Do. Enfaced Paper 4 per Cent 844
Do. 5 per Cent., Jan. 1872
Do. 51 per Cent., May 1879
Do. Deb., 5 per Cent., Aug. 1873
Do. Bonds, 5 per Cent., £l,000
Do under £l,000
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent
Austrian Bonds, 5 per Cent, 1859
Brazilian 5 per Cent
Do. 44 per Cent., 1852-58-60
Do. 1863 —
De. 5 per Cent., 1865 —
1)o Account 75
Do. £lOO Bonds
Buenos Ayres 6 per Cent
Da 2 per Cent. (Deferred 3 per Cent.)
Callan 6 per Cent 984
Do. 3 per Cent.
Do. 6 per Cent A —
Do.
~ B —
Do. „ 1867
Do. t, Scrip, £2O paid l4 - dis
Colombian, 6 per Cent.
Juba., 6 per Cent.
Danish 3 per Cent., 1825 —
Da. 5 per Cent., 1864 —
/a lubian Principalities, 7 per Cent
elquador Now Consolidated, 1 per Cent —
Do., Piovisional Land Warrant —
Do )ant-loci
E ;yptian 7 per Cent —
Do. Second Issue —
Do. £lOO Bonds
)o. Do. 1864 B-
Do. £lOO Bonds B3/
Do Government Railway Debentures Bl 80/
Greek 5 per Cents., 1824-5, ox Coupons
Do. Account
Do. Coupons
Do. Account
Guatemala 5 per Cent. —
Italian 5 per Certy 1865 —
Do, Account
Do. Maremmana Railway —
Id ,xicar. 3 per Cent
Ditto for Account —
Do. 1864 —
Do 6 per Cent. Anglo-French
/lontevidean G per Cent. .. —
ktoorish Imperial 5 por Cent
Nev Granada
Do 3 per Cen 33
Do. Deferred- —
Do Land Warrants (Hectares)
Pvuvian 5 per Cent., 1865
Do Account —
Do 44 per Cent., 1865
Do 44 per Cent. (Uribarren)
Do 6 per Cent., 1862 - —
Do Account
P mtuguese 3 per Ct., 185?, '6,77, '9,'60,'2, '3 421 4
:tussian 5 per Cent., 1822, £ St —
Do 44 per Cent. 1850
Do 44 per Cent., 1860
Do 3 pei Cent. 1859
Do 5 per Cont. 1862 BB4
I
Do 5 per Cent. 1864 904
Do. Anglo-Dutch, 1866, all paid BB
Do. do. £25 paid 2l / pta
Sardinian 5 per Cent
Spanish 3 per Cent
Do Account
Do New Deferred —
Do. Account
Passive Do —
Do Account 224
Spanish Cert. of Coup not funded
Do Account
Swedish 4 per Cont.
Do. 44 per Cent. 1864
Do. Scrip, £6O paid
t'urkish 6 per Cent. 1854.
Do. Account ,
Do 6 per Cent. 1858
Do. Account
Do £lOO Bonds
Do 6 per Cent. 1862
Do Account
Do £lOO Bonds
Do 6 per Cent., 1863....
Do 5 per Cent., 1865
Do. Account
Venezuela, 3 per Cent.
Dividends on the above payable in London.
Austrian, 5 par Cent., Ex. 10 Florins
Belgian. 44 per cent., Ex. 25f.
Dutch 4 per Cont. Ex. 12 Gull,
Do. 4 per Cent. Certificates ....
.
French Relates, 3 per Cent., Ex. 25f.
Italia), 3 per Cont. 1851, Ex. 25f.
Do. Account 54 34
TWO ©'©LOOS.
Money 904 1
Do. Account'

781

56
56i