The Sun.
London, England, 1868-02-03 00:00:00

MONEY MARKET

A ND
COMMERCIAL INTELLIGENCE,

CITY, Two o'CLocK.

In the English Funds the only point of interest is
the commencement of the:Consol account. There is a
better supply of stock than at the last settlement,
the higher price current offering inducements to rea-
lise. There is less activityin Foreign Government secu-
rities, speculators fora rise being disposed to take the
present profit. The upward tendency of the market
is, however, apparently unchecked. In railways,
Metropolitan shares continue to fluctuate with every
transaction. At this hour they are 14 per cent.
below the closing price of Saturday. With this ex-
ception, the Railway Market is firmer at an appre-

ciable recovery,

The preparations for the engagements maturing
to-morrow (the 4th) continue to exercise some in-
fluence on the Discount Market. The rate may
be called 11 per cent., with exceptions at 14 per
cent.

The arrival is announced of the Kosciusko, with
£162,000 in Australian gold, from Port Philip ; the
Wimmera, with £50,500, and the Yorkshire, with
£24,000. The total is £236,500.
Consols are without change, the quotation for
money and account being 93} to 931. New and
Reduced Three per Cents., 931 to 93i ; Bank Stock,
247 to 249 ; India Five per Cents., 112 to 112 f ;
Exchequer Bills, 225. to 275. prem.
• Foreign Stocks are being realised. Italian, 1861,
Bonds are quoted at 431 to 43f ; Peruvian, 77f to
78 ; Portuguese Scrip, 11 to 1f prem. ex div. ; New
Spanish, 37 to 37f ; Turkish, 1865, 32} to 02f ;
and ditto Six per Cents., 54 to 54f.
The New Honduras Loan is steady at to 11
prem.

Egyptian Nine per Cent. Bonds continue in re-
quest, and are quoted 89! to 90i.

United States 5-20 Bonds are 72f to 72k; Erie
Shares are better, at 481 to 49/ ; and Illinois are
steady, at 864 to 87.

Atlantic and Great Western Railway Debentures
have risen I+, to 27 to 28, and the Consolidated
Mortgage Bonds remain firm at 25} to 26.
The Railway Market is generally firmer. Metropo-
litan continue unsettled. They closed on Saturday,
109 k, opened this morning at 108, then went to 109+,
and are now 108 to 108 k. There is a recovery of
in Midland, at 106+ to 107+ ; of 4 in Great Northern
A, at 108 to 109; of 1 in London and North
Western, at 1181 to 1191 ; of 1 in Sheffield, at
431 to 44 ; and of 1 in South Eastern, at 69 to
691; Great Eastern, at 31i to 32 ; in Great
Western, at 46 to 461; and in Caledonian, at 754
to 74. Lancashire and Yorkshire, at 126 to 1261 ;
Great Northern, 107 to 108 ; Brighton, 45f to 46 ;
and London and South-Western, 81 to 83.
East Indian Railway stock is + lower, at 1081 to
1091. Great Indian is already at 1081 to 1091 ;
and Grand Trunk, 161 to 17. •

Alliance Bank shares are 10s better, at 13 to 12
dis. and London and County are 103 lower, at 54
to 55. London and Westminster, 67 to 68 ;
London Joint Stock, 33f to 34f ; and Imperial,
17 to 18.

National Discount shares are steady at 11 to 114
ex div. ; Credit Foncier, 3to 3f ; and General
Credit, 24 to 21 dis.
The directors of the London and County Bank
have decided to recommend the payment of a divi-
dend and bonus, amounting together to 9.per cent.,
for the half-year ending 31st December last, being
(with the payment of 11 per cent. in August)
equal to 20 per cent. per annum. About £7,000
will remain to be carried forward to the next
account.

CITY, TWELVE O'CLOCK.
Bar gold to the value of £21,000 was withdrawn
from the Bank on Saturday for export.
The Bangalore has arrived with £4,307 in specie
from Alexandria, and the Maria Pia with £21,000
from Portugal.
After -the ordinary general meeting of the Mid-
Wales Railway Company on the 18th instant, the
meeting will be made special for the purpose of con-
sidering and assentipg to a scheme of arrangement
between the company and their creditors.
Messrs. Chadwick, Robb, and 111tcuabb, the com-
mittee for managing the estate of the Bank of London
in liquidation, have issued the following report, dated
the 31st ult. :

"In our report, dated 29th May, 1867, we announced
the various steps which had then been taken, and that we
were prepared to offer payment to the entire body of
creditors on the following terms :-1. The immediate
Payment in cash of the balance of their claims,
with interest from the date of the stoppage at
the rate of 2i per cent. per annum ; or, 2. Payment
thereof with interest at £5 per cent. per annum from
the date of the stoppage, by three equal instalments at six,
twelve, and eighteen months. The sanction of the Court
of Chancery was applied for, and an order duly obtained
on the 9th July to give effect to this arrangement,
Whereby the formal proceedings were stayed, and the
Management of the estate was entrusted to us to con-
duct, as if the bank were in voluntary liquidation.
The second proposition was accepted by twenty-two of
the largest creditors, the aggrcgate of whose claims for
balance of 5s 6d in the pound remaining unpaid was
£211,718, exclusive of interest. To the rest of the creditors
immediatecash payments were tendered, and with few excep-
tions (chiefly residents abroad or persons of unknown ad-
dress) all such creditors have been paid in full. The first
Payment to the holders of promissory notes became due
on the 3d inst., and was punctually met. At present it
quite impracticable to form an accurate estimate of
future realisations, as so much depends on other concerns
now in liquidation ; bat from the mode in which claims
have hitherto been met, and from the insight which close
attention has given us into the character of the remaining
resets, we look forward with hope that we shall be able to
Meet the second and third instalments due in July, 1868,
and January, 1869."

The report of the Electric and International Tele-
graph Company states that the net profits on the
business of the past half-year amount to £76,730
10s Bd. After payment of the usual dividend of 5 per
cent., and distributing .£5,000 to the officers of the
company by way of bonus, there will remain a balance
of £21,613 to be carried to the trust fund. The di-
rectors regret that they have no definite information
to communicate with regard to the purchase of the
telegraphs by the Government.
A. dividend of £5 per share has been declared by
the directors of the Birmingham and Midland Bank,
Payable on the 14th inst.

A committee, consisting of seven members of the
Stock Exchange, has been appointed to consider the
effect of the decision in the case of Grissell v. Bris-
towe and to take steps to obtain a judgment from
the House of Lords upon the main points at issue.
The Dundee A dvertiser states that " a more hope-
ful feeling has arisen in all branches of the flax trade,
and a greater inclination for business has been mard-
fested. The opinion of many now is that the de-
pression which has so long existed will gradually
disappear, although no great activity can be looked
for for several months.
Messrs. Rucker, Oppor, and Company's freight cir-
cular states that " the chartering business of the first
month of the new year indicates an improvement in
the demand for tonnage, the inquiry being active,
and, in many directions, higher freights have been
paid."

The half-yearly general 'meeting of the General
Steam Navigation Company has been convened for
the 25th inst., for the transaction of the ordinary
business of the company, and to declare a dividend.
The committee appointed at the meeting of the
Shareholders of the Caledonian Railway, held on Wed-
nesday last, have had a conference with the directors,
at which it was resolved (subject to confirmation by
a general meeting) that six out of the fourteen gen-
tlemen who constitute the direction should retire to
Inake room for what may be termed " fresh blood."

BRITISH FUNDS CLOSING PRICES.
. GOVERNMENT FUNDS.
° POr Dent. Console
Do. Account, Feb. 6 93 ./.
8 Por Cent. Reduced 93 i
llow 3 per Cent 93t
New 24 per Cent. Jan. 1894 lOO
. Do. 5 per Cent. Jan. 1873 —
4nnuities, 80 yrs, expire sth Jan. 1880 —
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Televaph), An,.,., 1908 —
4i tchocluer Bills, £l,OOO, 24k 24 per Ct 25 pm
Do £5OO 25 pm
£2OO
tank of England Stock, 44 por Cent 247 9
Do. Account -

INDIAN GOVERNMENT SECURITIES.
Indian P took, 101 per Cent., AprillB74
Do. Account -
D 0.5 per Cent. July, 1880. lllk 121
4 per Cent., Oct. 1888
Do. Certificates —
Do. Enfaced Paper 4 per Cent —
D 0.5 per Cent., Jan. 1872
Si per Cent., May 1879 —
Do. 5 per Cent., Rup. Deb., 1879 —
Do. do. 1877 —
Do. do. 1882 —
Do Deb., 5 per Cent., Aug. 1873
O. Bonds, 5 per Cent., £l,000
bo. under .£l,OOO - Pm