The Sun.
London, England, 1868-01-17 00:00:00

MONEY MARKET

AND

qOMMERCIAL gLLIOR ROE,

CITY, Two o'CLoca.

The Money market is quiet, in spite of a large
amount of Australian paper falling due to-morrow.
With superabundant supplies, the rate remains at
11 to 1-} per cent.
The Corn Market is dull, at Monday's prices.
The Stock Markets continue to be very favour-
ably influenced by the condition of the money mar-
ket, and the pacific state of both home and foreign
affairs.

Consols are firmer, at 925 to 93 for money and
account. New and Reduced Three per Cents.,
98/ to 981 ; India Five per Cents., 1111 to 1114 ;
Bank Stock, 240 to 242 ; Exchequer Bills, 22s
to 275. prem.
Italian (1861) Bonds have advanced a fresh
per cent., the present quotaticn being 14 to 14
prem. Mexican Bonds are firm at 154 to 15;1-
Greek, 12 to 121 ; New Spanish, 35 to 351; Turkish
(1865), 301 to 301 ; Italian (1861), 425 to 434 ; Por-
tuguese Scrip, 11 to 14 prem.; Egyptian, 911 to
921; Brazilian, 751 to 771.
The New Honduras Loan is steady at 1 to 1
prem. ex coupon.
American Securities are good. United States
5-20 Bonds are 1 better, at 711 to 72 ; Erie
Railway steady, at 474 to 481. Illinois 1 higher,
at 844 to 851.
Atlantic and Great Western Railway Debentures
23 24 ; and the Consolidated Mortgage Bonds,
211 224.
English Railways are firmer. Lancashire and
Yorkshire, 1231 to 124 ; Midland, 1044 to 105 ;
South Eastern, 67 to 674 ; London and North-
Western, 1144 to 115 ; Great Northern, 106 to
107 ; ditto A, 1071 to 1081 ; Brighton, 461 to 461 ;
Sheffield, 44 to 441 ; Great Eastern, 291 to 291 ;
Great Western, 451 to 46 ; Metropolitan, 1151 to
164 ; Caledonian, 741 to 751 ; London and South
IVestern, 76 to 78 ; and Chatham, 18 to 184.
Bank Shares are quiet. Union of London, 33 to
31; Alliance, 13 to 12 dis. ; Imperial, 17 to 18 ;
and London Joint Stock, 33 to 34.
Credit and Finance Shares are steady at quota-
tions. General Credit, 24 to 2 die. ; London
Financial, 24 to 22 dis. ; International, 2 to 14
dis• ; and Credit Foncier, 3 to 35.

CITY, TWELVE O'CLOCK.

'Luc DM& return continues to snow the operation
of the elements—one the effect of the payment of the
dividends, and the other the effect of an inconsiderable
commercial demand for money. With the present
Week the influence, on the return, of the dividend
payments may be considered to cease, so that hence-
forth the public deposits will begin to rise. The in-
fluence of the other element, the small commercial
demand for money, is not likely to cease just
Yet. On the contrary, the public continue in
Possession, and in the immediate command of
large supplies by which rates will be kept low. The
effect of the combination will be a yet stronger re-
serve, and in all probability a yet higher stock of
bullion. A further temporary loan of £200,000 has
been made to the Government, and we may anticipate
a further reduction in the private securities, so that
the reserve will be comparatively unaffected by any
favourable diminution in the private deposits. The
following are the principal changes since the preceding
return :—.

Increase in circulation - £125, 470
Decrease in Public Deposits
Decrease in other Deposits ..
Increase in Government Securities
Decrease in other Securities . .... 904, 081
Increase in Bullion •—• 26,143
Increase in Rest
Decrease in Reserve ..
Bullion in both Departments ......22,086,213
Reserve of Notes and Coin 12,761,443
Circulation, including Bank Post Bills 25, 005, 461
The following is the return of paid clearing for the
beek ending Wednesday, the 15th inst., as certified
1 Mr. J. C. Pocock, deputy inspector :
Jan. 9, Thursday
Jan. 10, Friday
Jan. 11, Saturday 9,998,000
Jan. 13, Monday 11,105,000
Jan. 14, Tuesday 10,009,000
Jan. 15, Wednesday . ... 18,985,000

Total £67,729,000
i The average daily clearings of the year, so far,
;.,1111)1Y some amount of improvement in trade, inde-
tendently of the settlements on the Stock Exchange.
r the present week the aggregate is satisfactory,
4:l(rbiletryseeeseins likely to he maintained.
,Jarnnik
eerrdeany.o bullion operations reported at the
Ile Athenian has brought from the West Coast of
''',Vca £1,146 in specie.
he Atrato will take out to the West Indies £2,500
u gold. and £2OO in silver.
to The dividend of the Midland Waggon Company
! the Past year is to be at the rate of 15 per cent.
...Jr annum.
Henry Bennett, ironmaster, of Wombridge,
I„.ol)shire has suspended payment.
ieleh:treeershdalfyearlywimeeting of the Australian Chartered
ditt has been convened for the 27th inst., when the
report be presented and a dividend
celhe report of the General Credit and Discount
il,a:.B.lraa:l:yohraesheen issued. It shows a net balance of
the '"u• £75,000 are appropriated to a dividend at
per cent. per annum, of which one
after Placing £5,000 to reserve, and £l,OOO to
carried
of building account, a balance of £7,126 is
e‘newrted forward. A favourable account is given of the
discount business. No bad debts have been
lilac'', and efforts are continually being made to
reduce the old locks-up of capital.
At a special meeting yesterday of the London and
ustralian Agency Company (Limited), the liquids-
statedi_s that the reconstruction of the undertaking
ns. been most satisfactorily completed. The lia-
,,,ourty of the. shareholders has now been reduced
:!,..£lO per share instead of as originally £2O. The
nllcaiirs of the Company have been fully wound up,
ked the now concern, under the style of the London
es
of £lO
Agency Corporation (Limited), has been
stablished with a capital of
.£500,000 in 50,000
£lO each.
The directors of the London and Provincial Marine
tnsurance Company will recommend the payment of
I,nterest for the past half-year of 5 per cent., making
"0 per cent. for the year.
The report of the Alliance Bank was ado at
the meeting this morning. It was stated that the
Principal proprietors had been consulted upon the
advisability of closing the Liverpool branch, and
that opinion was in favour of not doing so. A
shareholder, however, moved that the Birkenhead
and Liverpool branches should both be closed, but
it was withdrawn at the wish of the chairman.
A dividend of 58 per share, being at the rate of 10
per cent. per annum, has been declared by the directors
of the New Zealand Trust and Loan Company,
Payable on the 24th inst.
It was stated a few days ago, by some of the conti-
nental journals, as one reason why France would not
require a loan, that M. Magne had not since his
assumption of office as Finance Minister issued the
Treasury Bonds which remained to be emitted. Since
this statement, Bonds to the amount of 50,000,000 f.,
Or £4,000,000 sterling, are said to have been dia.
F2unted with the Bank of France at 2 per cent.
ktellee, it is concluded, a loan will be introduced.

BRIT= FINDS—TWO WILCOX.
, CIOYEnntENT FUNDS.
' Per tent. Consols
8 1)0. Account, Feb. 6 92i 3
,Per Cent. Reduced 93- I
,4eN, 3 Cent 93
,K, per Cent
"V
2/ per Cent. Jan. 1894 —
4 '1)0. 5 Dper Cent. Jan. 1873 . —
UitieS, SO yrs, expire sth Jan,, 188(.
o. for 30 yrs, expire sth April 1885...
E
Pi? (Red Sea Teleh,raph), Au,„., 1908...
seuzqouer Bills, .£l,OOO, 2 &2i per Ct.... 22 pm
D
£5OO 22 pm
Batik
Do. £lOO & £2OO 22
4,11 k of England Stock, 41 per Cent 24lpm
4-'0• Account
l"
11.11)1AN GOVERNMENT SECURITIES.
"Pail Mock, 10} per Cent., April 1874 215
, 0. Account
Do c
111,1 I
D ' - Per Cent. July, 1880
~O. 4 per Cent Oct. 1888
Do. Corti— Do , cater , • Enfacocl Paper 4 per Cent.... B7
uo k
n . Per Cent, Jan. 1872
Lo•°'May 1879 lOBl
D tper Cent Ru D b 1874
~ P. 0 .i —
Do,
do. 1877 —
Do
1882 —
• do.
Do Deb 5 per Cent Aug. 1873 ....,.
Do T, *, ., nr, • -.find, 5 per Cent., £l,000
i,o. under £l,000
FOREIGN FUNDS—Two O'CLOCK.
Ar -- l•
4,,,f,!titie Republic, 8 per Cent —
b;,','s,.ittio Bonds, 5 per Cent. 1859
'''3. 4i per Do Cent., 1852-58-60 6Bl
1863
I)r,°' 5 Per Cent., 1865 -
to Account .... ..., i
761 5i 6I
0. 4100 Bonds