The Sun.
London, England, 1868-03-11 00:00:00

MONEY MARKET

AND
COMMERCIAL trTgLi.i 441 t t

CITY, Two O'CLOCK.

The fortnit;htly settlement in the Stock Exchange
Founnenced this morning, and there is consequently
but little ordinary business in progress. In many
respects the supply of stock is more equal to the re-
quirements than for several accounts past. On some of
the principal railways, notably Metropolitan, there
is neither backwardation nor cantagno. Cale-
donian form the principal exception. These
are
still scarce, and 9 per cent. per annum
has
keen paid this morning to defer delivery for a
fortnight. It is, however, too early to form a com-
plete idea of the course of settlement. The Funds are
firm, Upon an increasing short supply of India 5 per
Cents., a further advance of fully 4s per cent. is re-
ported again this morning. Foreign stocks are quiet,
and Americans steady.
The Discount Market keeps firm, at 12 per cent.
for the best commercial paper having short periods to
run. The supply is equal to the demand, but it is
Lot increasing. In the Stock Exchange money is
Wanted for the settlement, and firm rates are current.
The Liverpool Cotton Market is active, and rates
are firmer.
The Corn Market is quiet, at Monday's rates.
Consols are steady at yesterday's prices, 93 to for
money and account. New and Reduced Three per
Cents., 92 to a. India Five per Cents. show a
further/advance of 1, being dealt in at 1141 to 115.
Bank Stock unaltered, at 249 to 251. Exchequer
Bills, 10s to 15s prem.
There is scarcely any change in Foreign Govern-
ment Securities from last night's prices. Greek and
Italian are a little firmer, but Mexican barely maintain
yesterday's advance. Egyptian are f per cent.
lower. The quotations current are : Mexican
151 to 16 ; Greek, at 124 to 122 ; New Spanish, 352
to 36 ; Italian (1861), 451 to 452 ; Turkish (1864),
32?, to 331 ; Portuguese, 39/ to 391 ; Orel-Vitetske,
77/ to 772 : Egyptian (1864), 8134 to 871; Viceroy's
Seven per Cents., 731 to 74 ; the Nine per Cents,
884 to 89 ; and the Railway Loan, 91 to 911.
The New Honduras Loan is steady at 1 to 11 prem.
In American Securities, United States 5-20 Bonds
are steady at 71{),- to 71k. Erie Shares are -k lower, at
48h- to 491 ; while Illinois are 1 better, at 894 to 90.
Atlantic and Great Western Railway Debentures
remain steady at 27 to 28, and the Consolidated
Mortgage Bonds at 29k to 292.
Railways are rather flat, in the absence of business.
The present prices are:—Lancashire and Yorkshire,
123 Ito 126 ; Midland, 106 to 1061 ; South Eastern,
721 to 722 ; London and North Western, 1151 to
,1152 ; Great Northern, 1055 to 1061 ; ditto (A),
1031 to 104 ; Great Eastern, 31 to 311 ; Great
Western, 46k to 462 ; Brighton, 481 to 49 ; Sheffield,
41k to 412 ; Metropolitan, 1131 to 1131; and Cale-
donian, 824 to 822.
In Foreign Railways, Lommbardo-Venetian Rail-
way and Great Luxemburg are flat, the former being
flower, at 141 to 142 ; and the latter unaltered, at
to 94.

• In Foreign Mining Shares, St. John del Rey's are t
'ower, at 16 to 17, but Chontales are k better, at 1 to
dis. Port Philip, 1k to 11.
In Bank Shares business is very quiet and prices
are without alteration. Agra (A), 10 to 11 ; Alliance,
141 to 13i dis. ; Anglo-Austrian, 3i to 4 ; Chartered
Mercantile, 28i to 29k ; Consolidated, to ;
16s to 171 ; Imperial Ottoman, if to 1 dis. ;
London and County, 52 to 53 ; London and West-
minster, 671 to 68-4 ; Oriental, 42 to 43 ; London
Joint Stock, 33 to 34 ; Union of London, 331. to 341.
In Miscellaneous Securities the dealings are few and
unimportant. Anglo-American Telegraph steady, at
21.- to 211 ; Atlantic Telegraph Eight per Cent., 5i
t° 51 ; Hudson's Bay, 14k to 14i ; London General
Omnibus, 14 to 21. Ocean Marine Insurance is A-
lower, at 14 to 15, and Thames and Mersey k better,
at 21 to 21 prem.
The sum of £34,000 in sovereigns was withdrawn
from the Bank yesterday for Alexandria.
The City of Limerick has arrived from the Brazils
with £45,000 in specie.
The New York has left for New York with
£50,000 in gold coin, and the Saxon took £5,000 in
sovereigns for the Cape of Good Hope.
The silver market is firm, but inactive. The
Indian exchanges continue to harden, and thus in-
crease the probability of a speedy shipment to the
East. Mexican dollars are 59d per ounce, and bars
60W.

It is stated in Paris letters that negotiations aro in
Progress between the Governments of England and
Prance for a reduction in the rates of postage between
the two countries to 2d per letter of the present weight.,
The report of the directors of the London Bank of
Mexico and South America, to be presented at the
meeting of shareholders on the 20th inst., states that
the net profits, after making provision for bad and
doubtful debts, amounts to £12,493 164 of this sum
.-0,000 is recommended to be appropriated to the
Payment of a dividend of lOs per share, free of income
tax, leaving £3,487 16s to be carried forward to the
new account.
A. meeting of shareholders in Overend, Gurney, and
Co, Limited, was held yesterday, convened by the •
committee of the Defence Association, for the pur-
Pose of organising a fresh committee in order to
carry on the further proceediiq.,s against the di-
rectors. Dr. Thom was called to the chair, and
the first business was the passing of a resolution
thanking Dr. Thom, Mr. John Linklater, Mr.
Yowell, and the committee, for their past labours
In exposing what was called the greatest fraud that
ever disgraced the commercial annals of this country.
The next was the appointment of a new committee to
carry on further proceedings, one of which is to be an
action at law, and after a long discussion, the follow-
trig gentlemen were appointed :—Mr. Meek, of York;
-gr. Barrow, of Derby ; Mr. O'R,eilley, of London ;
and Dr. Thom, of London. The meeting repre-
"otc4 a very large number of shareholders from all
parts of the country.
The half-yearly general meeting of the shareholders
of the Caledonian Railway has been called for the
%Ist inst., fur the transaction of the ordinary business
Of the company.
The directors of the Falmouth Waterworks Com-
Pa'ay have convened the ordinary half-yearly meeting
of proprietors for the 26th inst.
The receipts of the Metropolitan Railway for the
Pastr,. week show an increase of £5lO 17s 4d, and the
Brighton £2,506.
Al a meeting yesterday of the West Caradon Mine,
a call of 30s per share was made.
Subscriptions are invited by the Cape Town Rail-
;'ay Company for £200,000, in six per cent. de-
benture stock, to replace a similar amount of bonds
falling due.
The earnings of the Bombay, Biroda, and Central
tricha Railway for the week ending the 18th of
January amounted to £8,051 Os 2d, comparing with
£8,495 16s sd.
The traffic receipts of the Great Luxemburg Rail-
'ray Company for the week ending March Bth,
amotinted to £5,734 is Bd, being an increase of
£7lO
15s 3d on the corresponding period of last
Year.
The Buenos Ayres Great Southern Railway con-
tinues to suffer from the prevalence of cholera and
the consequent depression of business. The rec.:pts
for the week ending the 19th of Jandary amounted
to £1,375 8s Bd, being a falling off of £271 19s 4d.
The following is Mr. Sam Mendel's weekly report of
the Manchester market, dated March 10th :—" There
is little business doing to-day either in yarns or goods.
The market is very steady at the quoted prices, but
there is not much disposition to follow the advance
110 w asked."

BRITISH FUNDS—CLOSING PRICES
8 GOVERNMENT FUNDS.
Per Ueut. Consols
~ Do. Account, April 9
Z,per Cent. Reduced 92 4
New 3 per Cent 92 4 2
New 21. per Cent. Jan. 1894 —
2i Do. 0 per Cent. Jan. 1873 —
tinuities, SO yrs, expire sth Jan., 1880 —x(
Do. for 30 yrs, expire sth April 1885 —
Po (Red Sea Telegraph), Au,. 1908 —
Ichequer Bills, £l,OOO, 2 per Ct.
Do £5OO lO 15 pm
Ba DO. £lOO & £2OO lO 15 pm
rsilk of England Stock, 44 per Cent 2504 49 51
4-'O. Account --
INDIANjto. GOVERNMENT SECURITIES.
,`-'4l. stock 104 per Cent., April 1874
"2,0. Account
Do. 5 per Cent. July, 1880
'-',O. 4 per Cent., Oct. 1888
"0. Certificates —
Do. Enfaced Paper 4 per Cent —
5 per Cent., Jan. 1872
-Z-;°. 54 per Cent., May 1879 —
'-'° 5 per Cent., Rup. Deb., 1872 2
Do. do. 1877 —
D Do' do. 1882 —
," Deb., 5 per Cent., Aug. 1873 ...„ —
,"0. Bonds, 5 per Gent., £l,OOO
"0. under .£1.000

FOREIGN FTTNDS—CLOSING PRICES.
A4:l?:triltainneßlotpdus,bslic,_
6 Cent_
4-ora .1. . per lBO
,I,lan a per Cent GGf
23. 41 per Cent., 1852 —
'-'O. do., 18-8 —
°•b do 18,10 —
D°• d 0.,. 1863 —
_
71f
I,o°.
,? per Cent., 1865
It Account
linos Ayres 6 per Cent —
Q '-',.,) 2 per Cent. (Deferred 3 per Cent )
0 I°,l, 6 per Cent. —
tan 6 per Cent —
„0. 4 i per Cent -
.;-,'°. 6 per Cent., B .
ii°l 1867
-1,°., 7 per ,Cent., 1866 95
C )".7 Scrip £32 paid
/,,
.nThia,n, 6 per Cent.
D
‘,,lll,_llCent., 1825
/,-;4°,iall Principalities, 7 per Cent —
x, ° 5 per Cent., 1867 —
1,4 ,uador New Con iolidated, 1 per Cent —
g7Ptian77 per Cent —