The Sun.
London, England, 1868-08-04 00:00:00

1101Y-EI MARTiET

AND
COMMERCIAL INTELLIGNITCE,

CITY, Two O'CLOCK.
The French Loan of £17,600,000 has been intro-
duced, and subscriptions for it will be received in Lon-
d,rpl by Messrs. Bischoffsheim and Goldsmidt from
~
lursday next, the 6th inst., to Thursday, the 14th
inst. The General Credit and Finance Company have
also been authorised to receive subscriptions. It
13 In a 3 per cent. stock, but as the issue price is 69
i :1
t Will
pay, independently of the allowances, nearly 4fr
Pe! cent. to original holders, while the allowances
bring the price down to about 68. The dividend,
which will be paid quarterly, accrues from the Ist
duly. Pentes in Paris closed last night at 70f. 55c.
Under these circumstances it may be expected that there
'll be great competition for allotments throughout
Europe, and it is to be hoped that the successful
negotiation of the loan may be the means of removing
or, at least, of mitigating the torpor by which capital
has been oppressed for the last year and a half. The
depcsit on application is to be 10 per cent. These de-
posits may for a time exercise a partially disturbing
influence upon the Money Market from the magni-
tude they are likely to assume ; but the sum
actually required is but £1,760,000. The dis-
turbalice can only be temporary. Thereafter the
instalments will be £BBO,OOO per month for 18
months. It is expected that the deposits
to be made in the first instance will exceed the whole
amount of the loan. Of course, there will be a lock-
up of the sum, whatever it may be, until after the
adjudication ; but seeing that capital is so abundant in
France, England, and Germany, the temporary with-
drawal of the amount from deposits not otherwise
engaged will be no disadvantage to the money
market.

The prevailing tone in the stock markets is rather
more animated and cheerful. The Consol settlement
is progressing smoothly, and prices are a shade firmer.
There is a good demand for Egyptian among foreign
stocks, and the Nine per Cents. are as much as 1 per
cent. better. There is also a recovery in Spanish,
exclusively upon the higher prices from Paris.
English railways are again lower, with the excep-
tion of Great Eastern which are 1 per cent, better.
Cable shares are flat upon the accident.
The discount market retains the improved appear-
ance which was started last week by the Stock Ex-
change settlement, and which has since been supported
by the preparations for the monthly arrangement
iaturing to-day. The rate is consequentiyl per
en
eta, The Consol account being in progress, advances
are quoted 14 to 2 per cent.
prices, P on
at
tls are a shade firmer, but without change in
941 to 94 for money and account. New
and Reduced 3 per Cents. 941 to 944 ; India Five
t).er Cents., 1141 to 1151 ; Bank Stock, 247 to 249 ;
xchequer Bills, 14s to 18s prem.
Colonial Government Securities are quiet and prices
are without particular movement.. The following are
‘dithe quotations :—Canada Six per Cent., 103 to 105 ;
tto Five per Cent., 91 to 93 ; Mauritius Six per
',;),!ntse 103 to 105 ; New South Wales Five per Cent.,
tOlOl • New Zealand Six per Cent., 110 to 112 ;
Yu 'eensland Six per Cent., 105 to 106 ; Victoria Six
`ier Cent., 113 to 115.
The leading feature in Foreign Stocks is an active
trnand for Egyptian, particularly the Viceroy's
''llds. The Nine per Cents. are better, 911 to
L'S, and the Seven p n
er Cents. f , 72i to 73. There
2, also an advance of if in Peruvia, at 80 to 804, and
",1 in Spanish, at 34 to 341 ; Mexican are 151 to
Brazilian, 761
Greek, 13 to I:Vy ; Italian, 52i to 52i- ;
39g, to 39i- ; Egyptian (1864), 84 to 85 ;
761 to 771 ; and Honduras, 83 to 83k.
_s_Anierican Securities are stronger. United States
2,20 Bonds are inquired for at 71a to 71i ; Erie
Shares are 4 better, at 421- to 43i ; and Illinois f,
at 934 to 94i.
reAtlantic and Great Western Railway Debentures
main at 40 to 40k ; and the Consolidated Mort-
gage Bonds at , 401 to 411.
English Railway Shares continue very flat, and a
further reduction has been established in most
leseriptions, except Great Eastern, which shows an
improvement of 1 per cent., being dealt in at 40* to
401..
London and South Western and Great
Northern are both lower, being quoted at 91k to
leas and 107 to 108 respectively, and a fall of a
taken place in Manchester, Sheffield, and Lin
lolnshire, at 43 to 434 ; Metropolitan, at 117 to
Caledonian, at 77 to 772 ; and London, Chat-
-1-n, and Dover, at 20 to 2W5- ; and of kin Midland,
at 1061 to 1071 ' South Eastern, at 761 to 771 ;
-r!nclon and North Western, at 1161 to 117 ; and
irndoo, Brighton, and South Coast, at 53k to 54 ;
eat Great Western is A.- better, at 501 to 511 ;
44alicashire and Yorkshire steady, at 130/ to 1311 ;
and Great Northern (A), 1041 to 1041.
, In Foreign Railways Great Luxembourg is quoted at
424 to 13 ; and Lombardo-Venetian 16 to 161.
, Bank Shares, Agra (A) are quoted 111 to 11/ ;
Alliance, 10 to 94 dis.; Anglo-American, 7to 7-4
Prem.; Chartered Mercantile, 284 to 294 ; Consoli-
dated, to 4i; ; 17 to 18 ; Imperial Otto-
manZ. to 1-k erene ; London and County, 52 to 53 ;
London and Westminster, 68 to 69 ; ditto, New, 4849 i
; Oriental, 44 to 45 ; London Joint-Stock, 32.
;to 332 and Union of London, 35 to 36.
In, POficlol Mining Shares St. John del Rey re-
;l,a`ns steady at 201 to 214 ; Port Philip to 1/ ;
2,3/4- to 2f; Rosa Grande, 4 to -k prena.
Miscellaneous Securities :—Atlantic Telegraph 8
,ear, Cent. is dull, at 3 11-16 to 3 13-16; Anglo-Ameri-
asteady, at t 7,, 8 ,
ort-eateielegr ph 207 to 911 • Atlantic and
saw Western Mortgage Bonds, 404- to 414 ; Had-
-12-8 Bay, 15k to 15/ ; London General Omnibus,
,P 2 ; National Discount, 111 to 121.
is no London and South Western Railway dividend
s_at the rate of 4 per cent. per annum, and the
hinetiu,,llt to be carried forward, £ll,lOB. This distri-
ear.o compares with 31 per cent. per annum last
Ther
yest
ereay Were no bullion transactions at the Bank
A ren
the ,remittance of £37,000 in gold has been sent to
Tlie
—trnlingham Town and District Banking
LI, 4°Y announce a dividend of 5s per share.
at the dsßanking Company have declared a dividend
rate of 10 per cent. per annum, and the
sCariterdshire Joint Stock Bank a dividend of 15s per
dTiiliedlsl,e of Man Bonding Company have declared
ieen.u:pat the rate of 7 per cent. per annum.
3zats `'lLling creditors of the late Agra and Master-
ia Jan'-'eanic (Limited), which passed into liquidation
aloe 1866, have availed themselves "of the occa-
Qrlai the Payment, on the 15th of July last, of the
ietereinstaltnent of all the debts of this concern, with
boa ,st at 5 per cent. per annum, to convey to the
viz., the directors of the resuscitated establishment,
James‘ue Agra Bank (Limited), and especially to Mr.
T
tioa
0, benison, the chairman, their high apprecia-
raeatBl,tile skill and promptness with which engage-
Stettin to the amount of not less than seven millions
eltrgegd,l,lave been honourably and punctually dis-
aThe committee of Venezuelan bondholders announce
c,
h,
eet.
1. g for Thursday, to consider the following :
originalualgamation of the committee of the 1862 and
beacloi,bondholders with the committee of the 1864
ana, 'Lem 2. To empower the committee to send
iTle(:,elittl toie Venezuela on terms to be arranged.
halrfecinest Messrs. Baring Brothers and Co. tc
hl expense of such mission, and the expense'
laendh?, , incurred by the committee, out of the
other ruelCLere' funds in their hands, and to adopt suet
say
that athdvices,
pittiasolutions as may seem necessary."
speaking of the French markets.
Noe ae e further the harvest advances, and it is
eaillincr arty
uompleted, the greater are the supplies
leheatt, ./orward, and that consequently the prices of
frea, la still falling. Millers were holding bad
maPnrchases in anticipation of still lower prices.
At
All the business on Saturday was very calm.
00 Sat Markets in Northern France report a fall
erd.
heat. ay of at least 1 franc per hectolitre on PA.,

taITIIIII ITXDS—TWO G v
8 ~,. 0, ERNINIEXT FUNDS.
941- i
IrOLOOK.
"t (lnt. Consols
Ditt
91/
Neer dent Account, Aug. 6
94} i i
Reduced
91,1 i I
4't 3 per Cent
7)7 2 per Cent. Jan. 1894
A, %. per Cent. .) an. 1873
nuities, SO yrs, expire sth Jan., 1880 — -11:)°. tQr 30 yrs expire sth April 1885 x _
E,„ 0 (Red Sea. Ilelevaph), Aug*,
Vieluer Bills, £1 000 2 per Ct
u, , I --
- II
i, De £5OO l9OB —
pmd
• 18
,I 7
.oat,
£lOO & £2OO
219
h' Of tagland Stock, 4i por Cent
'4O. Account
1 Isolk., Atirli- ,-. kxOVERNNIENT SECURITIES. _
ly. -ateelc, 10} per Cent., AprillB7l
......
h° °Pellicle. for Account
...,0, 5 , ;,,
114}
12,0 P‘r Lent, July, 1880
1041 I
—0• 4 per Cent., Oct. 1888
. Certificates
Do ,
0 • Enlaced Pa, 4 por Cent —
„°. 5 per Cent. Jan. 1872
,o, r , •I
-111
Do .t per Cent., May 1879 5 Pot' Cont., Rup. Deb. 1872 —
DDo
do. 1877 —
Do
• do. 1832 —
• . 5 nor Ce t Aug 1873
, T., , ,
.4 ~ Aug.
23 pin
b u°o6, 4 per Cent., £l,OOO
pm
0. CrUtad £l.OOO
Ar r...,• FORtICIN FUNDS—TWO CLOCK. P
...._
4,1.;4.,1 rte Itopulic, 8 per Cent
63
tr4''Floal /3Duda 5 per Cent. Itsa9
o3lian 5 per 'Cent 7l}
r, QJ. 41 Per Cola 1812 —
....0
do. , ._
_
18 )8
~N: do '
_
.ue. 1 1860 ......
De, r (I°, 1863 _
'I or Cent 186 r • _
110 Av, '' `)
13 r.4),,e44
2,4"
3;
6....... ... ............. .
Per Cent... ............ , 882
Per (AIDA. (beferrod 3 Ver Ceut.;