The Sun.
London, England, 1868-01-29 00:00:00

3p Y .51 A:A" E T

AND

CeraIIIIERCIAL TNTELIAGICE.

CITY, TWO O'CLOCK.

The Railway Share Market is very animated in
connection with the settlement, which commenced
this morning and will conclude on Friday after-
noon. The scarcity of the more speculative stocks
is very great, and as much as 18 per cent. per
annum has been paid to defer the delivery of
Metropolitan for a fortnight. Midland shares are
also scarce. In proportion as railway stocks grow
iu disfavour, the Funds and Foreign Government
Securities meet with increased demand. Consols
are consequently higher than yesterday ; and in
Foreign Stocks a substantial advance has been
establislicU in several of the more speculative de-
scriptions.

The discount demand shows no change, in spite
of the approach of the 4th of the mouth. The rate
is still 11 to la per cent.
The Corn Market is steady.
Consols' are extremely firm, at a further im-
provemeut of e, at 931 to 931 for money and ac-
count; New and Reduced Three per Cents., 93i
to 93a ; India Five per Cents., 112 to Il2i ; Bank
Stock, 244 to 248 ; Exchequer Bills, 235. to 275.
prem.

Foreign Stocks are firm. There is au advance
of I- in Peruvian (1865) Bonds, which are quoted
at 751 to 758 ; of 1 in New Spanish, at 368 to 361 ;
of in Brazilian (1865), at 77 to 77i ; and of 1
in Mexican, at 151 to 164 ; and in Italian( 1861),
at 421 to 421; Greek, at 12k to 13 ; Turkish, 31i
to 314 ; and Portuguese, 21 to 21.
In American Securities United States 5-20 Bonds
are steady, at 711 to 72 ; Erie Railroad, 4 lower,
at 48 to 49 ; while Illinois arc better, at 86 to 88.
The New Honduras Loan is steady at to 1
prem. ex coupon.

Atlantic and Great Western Railway Debentures
are firm at 241 to 251, and the Consolidated
Mortgage Bonds have risen 1, to 24 25.
Railways are firmer upon the demand for the set-
tlement. There is an advance of [ in South Eastern
at 681 to 69, and in Midland at 105 to 1051; of
1 in Lancashire and Yorkshire at 1251 to 1251 ;
in Caledonian, at 761 to 764 ; and in Metropolitan,
at 117 to 1171 ; and of 1 in Brighton, at 46 to 461.
London and North Western shares are quoted 1171
to 1174 ; Great Northern A, 108 to 109 ; Great
Eastern, 301 to 31 ; Great Western, 451 to 46 ;
Sheffield, 43 to 431 ; Chatham, 18 to 181 ; and
North British, 35 to 351.
In Indian Railways, Great Indian Peninsula is
quoted at 108 to 109 ; and East Indian, 1081 to
109 i ; Grand Trunk Railway of Canada, 15 to 151;
Great Western Railway of Canada, 16k to 161.
Finance shares are steady. International Finan-
cial, 21 to 18 dis. ; and Credit Foncier 31 to 38.
The affairs of Mr. Robert Hutchinson, who re-
cently failed in Liverpool for £200,000, and who
was the paid director of the Royal Bank, which
suspended a few months ago, were again brought
before the officials of the Liverpool Bankruptcy
Court yesterday, but reporters were not admitted.
At a meeting of the board of directors of the
E!ectric and international Telegraph Company,
held this day, it was resolved to recommend
t) the proprietors at the general meeting to be
held at the Company's office, Telegraph street,
Moorgate-street, on Wednesday, the sth day of
February next, to confirm a dividend of £5 per cent.
for the last half-year free of income-tax.

CITY, TWELVE o'CLOCE.
There were no bullion operations at the Bank of
England yesterday.
The Mexican dollars received by the Douro have
been sold at an advance of id, the price obtained being
59d per ounce.
The proposed dividend of the Colchester and Stour
Valley Railway Company is at the rate of 3i per cent.
per annum. _ _

The Albion Bank (Limited), have declared a divi-
dend for the past half-year at the rate of 5 per cent.
per annum.

The Report of the Mediterranean Extenijon Tele-
graph Company has just been issued. It recommends
the payment of a dividend of 8s per share on the
preference, less income tax, and 3s per share, free of
income tax, on the ordinary shares, and carries .£576
to the reserve. fund.
The committee of the main line shareholders of the
Chatham and Dover Railway Company have issued a
report to their constituents recounting the legal steps
taken last year to recover their object and their
failure. The expenses incurred have absorbed the
funds placed at their disposal, and as there are fur-
ther proceedings which the committee think likely to
be advantageous, fresh contributions are solicited.
The traffic receipts of the Grand Trunk Railway
for the week ending the 11th inst., show an increase
of £683, and those of the Great Luxemburg for the
Week ending the 26th inst., au increase of £BB3.
The Master of the Rolls has made an order, on the
petition of debenture holders, for the winding up of
the Pooley Hall Colliery Company (Limited), under
the supervision of the court. Mr. F. Hunter, of
Dacup, and Mr. H. G. Nicholson, of Manchester, were
appointed liquidators.
The following is an extract from the Circular or
Messrs. Henry Clews and Co., dated New York,
Jan. 8, 1868 :

" We have much pleasure in being able to congratulate
out friends upon an improved tone of business at the open-
ing of the year. In some quarters, there was a vague
idea that 1867 was to be marked by a great panic ; and
the failure of the event to respond to the expectation natu-
rally tends to relieve prevailing fears. The severe mone-
tary spasms of late months have left behind fewer
traces of injury than might have been anticipated.
The succession of small panics which distinguished 1867
are regarded less as the consequence of the present de-
ranged condition of affairs than as due to the arbitrary
Withdrawal of a large amonnt of the circulating medium ;
and now that the Secretary of the Treasury has tem-
porarily suspended contraction, and Congress appears dis-
posed to repeal the authorisation for retiring the legal tender
currency, it is felt that business is freed from its chief
embarrassment ; and the tone of feeling, alike in trading
and in financial circles, is comparatively buoyant. Capi-
talists, though by no means satisfied that the present con-
dition of affairs is' incapable of improvement, are yet
above everything desirous that, for a time, they may be
exempted from the unsettling effects of legislative
changes in matters of finance and commerce. For the last
five years their calculations have been constantly baffled by,
modifications in the laws affecting banking, revenue, cur-
rency, and foreign commerce ; and after this protracted dis-
couragement, they are willing to forego the possible advan-
tage of many supposed improvements on late legislation, in
order that they may have stability in the conditions under
Which they operate. Fortunately, the present indications
encourage the expectation that, beyond a few changes ad•
witted on all bands to be imperatively necessary, Congress
Well do little this session materially affecting the present
situation of affairs ; and this consideration materially tends
to encourage the revival of confidence."

BRITISIT FUNDS—TWO O'GLOCK.
GOVERNMENT FUNDS.
8 per Cent. Consols
Do. Account, Feb. 6 93+ 4
3 per Cent. Reduced 93r
New 3 per Cent 93 1
New 21 per Cent. Jan. 1894 —
Do. 5 per Cent... Jan. 1873 —
Annuities' SO vrs, expire sth Jan., 1880 —
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Teleh,raph), Aug., 1908 —
E tchcquer Bills, £l,OOO, 2 2 & 2 per Ct — pm
1
Do £5OO — pm
Bank
pm
41' of England Stock, 41 per Cent 248
Do. Account
INDIAN GOVERNMENT SECURITIES.
Indian stock, 10f per Cent., April 1874 215
Do. Account
Do. 5 per Cent. July, 1880
Do. 4 per Cent., Oct. 1888
Do. Certificates —
Do. Enfaced Paper 4 per Cent —
Do. 5 per Cent., Jan. 1872
Do. 51, per Cent., May 1879 —
Do. 5 per Cent., Itup. Deb., 1872 —
Do. do. 1877 —

Do:
Do. do. 1889 lo3f
Do Deb., 5 per Cent., Aug. 1873
Do. Bonds, 5 per Cent., £l,000
Do, under £l,000
FOREIGN FUNDS —TWO CLOCK.
Argentine Republic, 6 per Cent —
Austrian Bonds, 5 per Cent. 1859
Brazilian 5 per Cent —
DD. 4i per Cent., 1852 —
Do. do., 18.8 —
Do. do., 18 ;‘. 6B
Do. do, 1363 6Bl
'2
Do. 5 per Cent., 1865 - 6i 71
do Account
no. £lOO Bonds —
Bnei os Ayres 6 per Cent —
D 0 2 per Cent. (Doferrad 3 por Cent )
‘-,111)a, 6 per Cent.
C.ilian 6 per Cent —
Do. 41 per Cent —
Do. 6 per Cent, B .
Do., 1867 -
Do., 7 per ,Cent., 1866
,_„ Do., Scrip £32 paid
C , nibian, 6 per Cent.
f).inisn 3 p-r Cent., 1825
BMW/jail Principalities, 7 per Cent 67 61.-
Do 8 per Cent 1867 ~
Eluatlcor Now oousolidated, Iper Cent —