The Sun.
London, England, 1868-05-20 00:00:00

MONEY MARKET

AND
CUIHERCIAL INTELLIGENCE,

CITY, Two O'CLOCK.

Though still firm, the Stock Markets are hardly so
good as they were yesterday end the day before. The
repetition of attempts to precipitate a dissolution with
its incalculable inconvenience, commercial and poli-
tical, is causing some anxiety, and but for the
highly encouraging character of the corn and money
markets, a relapse would most certainly ensue. Only
1 quiet business is being done. Among foreign
stocks, Egyptian and Russian Bonds and Guarantees
tre flat, but Spanish are better. The railway traffics
are not considered very good, and shares are less
firm.

The money in Lombard-street is l per cent., and
in the Stock Exchange short loan 3 are offered at 1 per

Corn is in better supply and flatter, but no further
decline is quoted.
The Funds are steady at yesterday's prices, Consols
being dealt in at 941 to 941, for money, and 93i to
934 for account ; New and Reduced Three per Gents.,
93f to 931 ; Bank Stock, 246 to 248 ; India Five
Per Cents., 116 to 116 k; Exchequer Bills, 5s to 10s
Oren

A Cheek has been given to the demand for Russian
and Egyptian Bonds, and quotations are below the
prices current at yesterday's close. Egyptian (1864),
and the Railway Debentures are lower, at 81 to 82
and 91 to 92 respectively. Orel Vitebsk Railway
Binds have declined to 79. Mexican also show
heaviness at 15i to 16. New Spanish Bonds are in
Wore request now that the question of. quoting the
new stock is settled. The present price is 361 to 36k.
Greek Bonds are 3.1- to 31 ; Italian (1861), 49R• to
49a- Portuguese, 404- to 401 ; the Viceroy's Seven
per Cent. Bonds. 72 to 72i ; and the Nine per
Cents., 91k to 91g.
Egyptian Nine per Cent. Bonds are 91f to 91i.

AMerican SecUrities are firmer. United States
Five-Twenty Bonds are .k better, at 71} to 71k ;
Erie Shares and Illinois are each higher, being
quoted at 454- to 45/, and 95 to 96 respectively.
Atlantic and Great Western Railway Debentures
have receded to 281; to 28/ ; and the Consoli-
dated Mortgage Bonds remain at 31/, to 324-.
English'ltailways are steady, but quiet. The
changes comprise a fall of 4- in South Eastern, and of
in Metropolitan, Chatham, and Midland ; also a rise
of in Lancashire and Yorkshire, and of k
in London and North Western, Great Western
and Brighton. The quotations current are ;
Chatham, 18/ to 19 ; Caledonian, 74/ to
; Metropolitan, 111/ to 1124 ; Sheffield,
42 to 42k ; Brighton, 54 to 54k ; Great Wes-
tern, 54 to 541 ; Great Eastern, 34 to 34f ;
Great Northern, 102 to 103 ; ditto (A), 961 to 97i ;
London and North Western, 115; to 116 ; South
Eastern, •76 to 761 ; Midland, 107 to 107 k ; and
Lancashire and Yorkshire, 127/ to 128 f.
Foreign Railway Shares are steady. Lombardo-
Venetian is marked. at 14k to 15k ; Great Luxem-
bourg at 11/ to 11g.
The dealings in Bank shares are merely nominal,
tnd prices are without a single change. Agra (A), is
firm, at 10 to 10k ; Alliance, 13. to 12 dis.
anglo-Austrian 4/ to prem. ; Chartered
Mercantile, 27 to 28 ; Consolidated, 4i to 4/ ;
Imperial Ottoman, # to Is prem.; London and County,
52 to 53 ; London and Westminster, 71 to 72 ;
.Oriental, 42 to 43 ; London Joint Stock, 35 to 36 ;
Union of London, 35 to 36.
In Foreign Mining Shares Chontales are k lower,
at 2 to 21; St. John del Rey unaltered, at 16k to 17k ;
and Port Phillip 1k to 1/.
Miscellaneous securities are extremely quiet. Anglo-
American Telegraph is quoted at 22i- to 23} • Atlantic
Telegraph Eight per Cent., 5 to 54- ; Hudson's Bay
steady, at 15k to 15/ ; London General Omnibus,
1i to 2k ; Fore-street Warehouse, 2 to 1 dis.
The bar gold sent into the Bank yesterday was
of the value of £19,000.
The foreign Exchanges continue favourable to this
country.

The steamers leaving New York yesterday for
Europe took £BO,OOO in specie.
The silver market is flat, upon the prospect of brae
arrivals from Mexico shortly.
,Regarding the project for which Messrs. T. S.
Morgan and Co. invite subscriptions for the European
and North American Railway, the line is of great
e(utnercial and political importance, and has been
liberally subsidised by the provinces more imme-
diately concerned. By connecting the city of Saint
John (New Brunswick) to the frontier State of Maine,
United States, complete communication will have
been established with all the railways of the United
States and Canada.

The committee of the Stock Exchange have passed
the following resolution :—" That, in the absence of
any opposition, the committee do not consider -it ad-
visable to withhold official quotations from the New
Spanish Three per Cent.. Bonds of 1867 ; but record
their dipsatisfactiou at the conversion of Passive Bonds
having been accompanied by the cowpulsory payment
of money."
The committee have also ordered the £234,000
General Mortgage Six per Cent. Sterling Bonds
(#2OO each) redeemable Ist July, 1910, of the Penn-
-BYlvania Railroad Company to be quoted in the
official list.

The ordinary general meeting of the British India
Steam Navigation Company has been called for the
27th inst., for the purpose of declaring a dividend.
The annual general meeting of the African am-
ship has been convened for the 3rd June.
An extraordinary general meeting of the West
Rani Gas Company has been called for the sth June,
to consider a recommendation of the directors that
2.000 new shares of £5 each, subject to a call of
£2 108 per share on allotment be forthwith issued.
The Metropolitan Railway traffic shows an increase
of .£4OB ; the Great Luxemburg, £1,119 19s 9d ; and
the Grand Trunk, £3,294
At the Wheal Kitty (St. Agnes) Mine meeting yes-
terday, the accounts showed a profit upon the three
months of ..£406. A dividend of 2s per share was
declared.
The produce in stock in London continues, with
few exceptions, to be below the quantities held this
time last year. The instances of increase are :—Rice,
3,980 tons ; tallow, 1,161 casks ; coffee, 3,185 tons ;
i:ncl cochineal, 2,421 bags. The decrease in cloves,
,0,691 packages ; cotton, 1,296 bales ; jute, 81,335
bales ; jute cuttings, 15,113 bales ; lac dye, 1,667
chests ; nutmegs, 1,634 packages ; black pepper,
~0
~'93 tons ; white pepper, 47 tons ; pimento, 10,981
cu,ags ; rum, 4,276 puncheons ; nitrate of potass,
'96-96 tons ; nitrate of soda, 400 tons ; and sugar,
27,427 tons.
In reference to the Manchester market, Mr. Sam.
Menders circular, under yesterday's date, has the
following :—" The advance obtainable at the close of
last week and up to yesterday is more difficult to
realise. Sales are not active, but prices are slightly
above those accepted on the 12th, and a somewhat
steader feeling."
, as
Mr. Henry Ayres, a well-known financial writer,
n published, through Mr. Effingham Wilson, of
the Royal Exchange, a work of the greatest interest to
railway proprietors and the general public. While engi-
neers like Mr. Fairlie are striving to impress the
Public with a sense of the importance of creating
income by diminishing the proportions of dead
Weight carried to paying freight, Mr. ,Ayres,
with equal sagacity, points out the necessity
of improving the forms of account. More than that,
he suggests forms, perfectly simple, which would be
efficacious in describing the exact financial position of
any or of all companies, if they were only required to
be made out uniformly. It is impossible in a short
Paragraph..:to enumerate, much less to describe,
the other practical suggestions made by Mr. Ayres,
with a view to the security of railway shareholders.
We can only urge them to obtain the work for them-
Selves, assured that they will find it exceedingly
valuable. One of Mr. Ayres' suggestions is that a
special department of Government should be formed
for the purpose of controlling the railway affairs of the
country ; and many practical persons have been con-
vinced by his reasoning that to that conclusion we
Must come at last.

BRITISH FUNDS—TWO O'CLOCK.
', GOVERNMENT FUNDS.
Per Cent. Consols
Ditto for Account, Juno 4 -
, ••
'it Per Cent. Reduced 93,1
Nr" 3 per Cent
per Cent. Jan. 1894
4 '''''). 5 per Cent,..., an. 1873
Unuities, 80 yrs, expire sth Jan., 1880 —
• bo. for 30 yrs, expire sth April 1885 l2/
Ex 'De (Red Sea Televaph), Avg., 1908 —
Do 1,
`'..equer Bills. £l,OOO, 2 per Ct 8 pm
•
D £5OO
Et►„,°' £lOO & £2OO 8
1',,-"- Of England Stock. 41per Cent 2471
-"0. Account
f .INDIAN GOVERNMENT SECURITIES.
tlrka 51tock, 101 per Cent., April 1874 , —
DO. Account ..••
r"
° • 5 per Cent. July, 1880
i)°' et• Cent.. Oct. 1888
moe. C
K,ePrtificates -
ii t• .
• ruaced Paper 4 per Cent —
0.5 per Cent., Jan. 1872 -
Do' 9 per Cent., May 1879 —
D
• ." Per Cont., Itduop.. Dob. 1872
Lo 1877 lO2
121°. do. 1882
D''' Deb., 5 per Cent., Aug. 1873 ..•••••
1)°•.,
1°- Boudli, 5 per Cent., £l,OOO
Amen..utinnaeFe°l:e.lpEulll!•lt per FUNDS—TWOCenI CLOCK.62I
.. pm
..',.1 triaa Bendß 5 per Cent. 1859
•orst4-1- . •
. 4 hien e per Cent
D3' 41 Per Cent., 1852 —
°. d0.,1858_
Lo.L)°. do .
1 18i0 i
•1863 7O 69
do,
13r.°' 5 Per Cont. 1865 1865
4#4"-Ccollatai.