The Sun.
London, England, 1868-01-27 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIIENCR,

CITY, TITO O'CLOCK.

Business in public securities is somewhat inac-
tive, but the tone is nevertheless firm. The super-
abundance of money is again producing a demand
for the Funds, and Consols and New and Reduced
have rallied k per cent. The limits to sell at this
price are still understood to be numerous, and the
maintenance of this advance is therefore dependent
upon a coptinuance of purchases for investment.
Foreign stocks are steady, and rather better. Rail-
ways are without particular change. The settle-
ment commences on Wednesday ; and, by all ac-
counts, the scarcity of stock will be more observ-
able than before.

The Discount Market is quiet. The best short-
dated commercial paper continues to be taken at 1;
to 14 per cent. In the Stock Exchange there is no
demand for money at 1 per cent.

The Corn Market i 3 quiet at previous prices.
Consols are firm at an improvement of f, at 931t0
93i for money and account ; New and Reduced
Three per Cents., 93f to 93+ ; India Five per
Cents., 1111 to 112 i ; Bank Stock, 243 to 245 ;
Exchequer Bills, 235. to 275. prem.
In Foreign Stocks, New Spanish and Italian are
Bather firmer, and the quotations are I per cent.
better, at 351 to 351, and 421 to 421 respectively.
Mexican Bonds are steady at 151 to IGf ; Greek,
124 to 121 ; Turkish (1865), 314 to 31f ; and Por-
tugese 21 to 21 prem.
Egyptian 9 per Cent. Bonds are steady at 89i
to 90f.
The New Honduras Loan is to 1. prem ex
coupon.
In American Securities United States 5-20 Bonds
are steady, at 711 to 721. Erie Railway and Illinois
are each higher, being quoted at 49 to 50, and 86
to 87 respectively.

Atlantic and Great Western Railway Deben-
tures, 24 to 25, and the Consolidated Mortgage
Bonds have receded 1, to 22 to 23.
Railways arc without averaga change. Sheffield
ahares are 1 lower, at 434 to 44 ; Great Northern A,
at 1084 to 1094 ; Metropolitan, at 117 to 117; ;
and Great Eastern, at 304 to 304 ; South Eastern,
at 684 to 691. On the other hand, there is an
advance of 4 in Great Northern. at 1074 to
1084 ; and Brighton, at 47 to 474 ; and of 1 in
North British, at 341 to 351 ; in Lancashire and
Yorkshire, 1254 to 126 ; Midland Shares are 105
to 1054 ; Loudon and North Western, 1174 to
118 ; Great Western, 464 to 47 ; Caledonian, 76;
to 764 ; and Chatham, 18 to 184.
London and County Bank shares are 54 to 55 ;
London and Westminster, 71 to 72 ; and London
Joint Stock, 341 to 254.

CITY, TWELVE O'CLOCK.

Ten thousand sovereigns were taken from the
Bank on Saturday for export to Alexandria by the
Poonah.

The steamers which left New York on Saturday for
Europe took £200,000 in specie.
The Douro has arrived from the West Indies with
£300,000 in specie ; the Uyanza, from Alexandria,
with £11,574 ; and the Cuba and Hammonia, from
New York, with £51,000.
The report of the National Bank of Liverpool, for
the year 1867, states that the balance to the credit of
profit and loss is £11,593 16s 10d, out of which the
directors propose to declare a dividend for the half-year
ending 31st December last at the rate of 5 per cent. per
annum, free of income-tax, which will absorb £11,250 ;
the balance, £348 16s 10d, will be transferred
to the reserve fund, which will then stand at
£72,292 5s 7d. These results, they add, would have
been more favourable but for an unexpected loss of about
£15,000, which has, however, been fully provided
for in the accounts. The general business of the bank,
especially as regards the number of new accounts,
shows a satisfactory increase ; and some debts pre-
viously written off as bad have been recovered.
The liquidator of the Eastern Exchange Bank
(Limited), announces a further repayment to the share-
holders of lOs per share, making £4 5s paid of the
L 5 called up, and a further distribution is expected.
The directors of the Scinde Railway Company are
Issuing £250,000, in 12,500 shares of £2O each, bear-
ing a guaranteed interest at the rate of 5 per cent.
Der annum.

The directors of the. Cumberland Union Bank
(Limited) recommend a dividend of 15s per share,
Making the distribution for the year 14 per cent.
The report of the directors of the Linoleum Manu-
facturing Company (Limited) recommends a dividend
of Ll per share, making, with the 5s paid in August
last, a total distribution of 14 per cent. for the
twelve months.
The following is Layton and Co.'s " Tea Clircular :"

"Transactions in the Tea Market have continued of fair
extent during the past fortnight, and prices realised for
common qualities of Oongou may be quoted a shade higher,
but the recent arrivals from Shanghae have afforded a large
assortment of fair to medium kinds of black leaf, which
have met only a moderate competition from the trade, and
sales of these descriptions have been for the most part effected
at rates in favour of the buyer. Good to fine Monings are
firmly held, and the quantity in first hands is now small : the
export demand bas not however been at all active, and the
business reported is of comparatively little moment. Dusty
and broken teas sell readily at full prices, but good common
to fair red-leaf, even of recent import, brought only is Oid
to is 21,1 per lb. 'New district' Congous of old season,
sold in half chests at la 3d per lb. Scented Orange Pekoes,
both Canton and Foochow, meet with some enquiry, the
latter at lower rates. Capers, on the other band, have been
sold to some extent at from is 4d to 1s lid per lb.
The arrivals of green tea during the fortnight
have consisted chiefly of Ping Suey kinds. About 1,500
packages printed ' without reserve' were disposed of in
public sale :—No. 1 Gunpowder at 3s 9d and Nos. 2 to 4
all in boxes at 2s lOid to 3s 4d. The small auctions of 21st
inst. comprised only 13,167 packages, of which 11,709 were
Printed without reserve. The arrivals to this port since
our last are :—January 11th, Maiden Queen from Foo-
chow ; 13th, Chanticleer from Macao, Invincible and
Jubilee from Shanghae ; 14th, Queen of the. Age. from
Foe-ohOW," Pega-sus and Isles of the South from Shanghae ;
15th, Wild Deer and Anglo Saxon from Shanghae, Niphon
from Canton, Caranjah from Foochow ; 16th, Sooloo from
Shanghae ; 17th, Sir W. 'Wallace from Shanghae ; 18th,
Fusiyama from Shanghae ; 221, Cymbeline from Foochow.
Indian Tea.—Public sales of 10,544 packages were com-
menced on the 14th and extended over five days. This
quantity being in excess of the requirements of the dealers,
the sales passed of flatly, and with few exceptions, at a
considerable decline. Pekoes sold in some cases fully 2d to
4d per lb. under valuations."

BRITISH FUNDS CLOSING PRICES.
GOVERNMENT FUNDS.
8 per (Ant. Consols
Do. Account, Feb. 6 93} ±
3 per Cont. Reduced 93 /
New 3 per Cent 93k 3 1 I I
New 21 per Cent. Jan. 1894 75/
Do. 5 per Cent. Jan. 1873 —
Annuities, 80 yrs, expire sth Jan., 1880.
Do. for 30 yrs, expire sth April 1885 —
Do (Red Sea Teleijaph), Aug., 1908 —
E Kchoquer Bills, £l,OOO, 2 ez2cper Ct 26 pm
Do £5OO pm
Do. £lOO & £2OO pm
Bank of England Stock. 4f per Cent 246 41
Do. Account -
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 B7l 4
Do. 5 per Cent., Jan. 1872
Do. 51 per Cent., May 1879 lOB/
Do. 5 per Cent., Rup. Deb., 1874
Do. do. 1877 —
Do. do. 1882 —

Do- 1501)., 5 per Cent., Aug. 1873
Do. Bonds, 5 per Cent., £l,OOO
Do. under £l,000
FOREIGN FUNDS—CLOSING PRICES.
Argentine Republic, 6 per Cent 521
Austrian Bonds, 5 per Cent. 1859
I3razilian 5 per Cent —
Da. 41, per Cent., 1852-58-60
_ Do. 1863

Do. 5 per Cent., 1865 —
Do Account 774 i
Do. £lOO Bonds _
lueuos Ayres 6 per Cent —
Do 2 per Cent. (Deferred 3 per Cent )
Cuba, 6 per Cent.
Caiiian 6 per Cent —
Do.ll per Cent —
Do. 6 per Cent., B • --
Do., 1867
Do., 7 per ,Cent., 1866 —
Do., Scrip £32 paid
0 ,' mbian, 6 per Cent.
nanisu, 3 p,u'• Cent., 1825
D Inubian Principalities, 7 per Cent —
Do 8 per Cent., 1867 —
tivador New Con.iolidated, 1 per Cent —
4iyptian, 7 per Cent —
no. Sf,ead Issue
D ~ .fs.u) Bonds
Do. £IOC Bonds —
Do. 1861
no. £S e) Bonds —
Do. £lOO Bonds .. .. 91
Government Rail way Debentures .... 911
Ctreelr, 5 per Cent., 1824-5, ex Coups
~
Do. Account
130. Coupons
no.
Account •..
‘-i,latoinala 5 per Cent .. —
Ifonduras Gov. Rail. Loan., 7p. Ct., £l5 pd pm
Italian 5 per Cent., 1865 691
Do, Account
D 0• Iltirommana Daiway