The Sun.
London, England, 1868-11-20 00:00:00

NONT6I CIIARIIET

AND

'94IMERCIAL

CITY, Two o'CLocK.

The business to-day on the Stock Exchange was
by no means brisk, and prices drooped, but in the
Foreign Market an improvement has to be quoted
in some of the Securities. Railway Shares are,
With Sew exceptions, unchanged in value.
Mon; is plentiful in the discount market, and
transactions have taken place at 1, and in some in-
stances 1 below the Bank rate.
Consols are 941 31 44 for money; Three per
Cents. Reduced, 921 4 ; New Three per Cents,
921 1 2 I; Exchequer Bills £l,OOO, 2 per Cent,
16 15 prem.; ditto, £lOO and £2OO, 15 prem. ;
Canadian 4 per sent. Bonds, 1863, 1071.
India Stock, 101 per Cent., April, 1874, 218 ;
ditto, 5 per Cent., July, 1880, 1154 1; ditto, 4 per
Cent., Oct., 1888, 1021 2 2-t1; ditto, Enfaced
Paper, 4 per Cent., 92 ; ditto, 5 per Cent., Jan.,
1872, 1051 ; ditto, Bonds under £l,OOO, 16 prem.
In the Foreign Market Egyptian and Spanish
have risen 4to per cent., Portuguese Bonds 1
Per cent., and the Orel Loan f. Brazilian are
quoted 774 to 781 ; Chilian, 94.1 to 954 ; Egyptian,
811 to 82 ; ditto of 1868, 734 to 744 ; Italian,
551 to 56 ; Mexican, 151 to 16 ; Peruvian
811 to a; Purtuguese, 40 to 1 ; Russian, 19i to 4 ;
Nicola.i. Railway Loan, 651 to 1; Orel, 811 to 1;
Moscow-Jeroslaw, 821 to I ; Spanish, 331 to 34 ;
Turkish, 68 to 1; ditto of 1862, 671 to 681.

The Italian Debentures is at 3 to a prem.
United States 5-20 Bonds are 74f to j ; Erie
Railway shares, 39f to 30 ; Illinois Central, 954 to
94i ; Atlantic and Great Western Debentures, 381
to ; and the Consolidated Mortgage Bonds, 384
to 39i.

In the Railway Market Metropolitan and Cale-
donian stocks have fallen 4 to / per cent., viz., to
106/ 107 and 74i 75} ; Great Easterns are at 42/ to
London and North Western are 1131 to 4 ; Great
Western, 504 to Q ; Midland, 1121 to 4 ; London
and South Western, 874 to 884 ; Brighton, 48/
to 49 ; South Eastern, 791 to 4 ; Great Northern
A, 1044 to 1051 ; Lancashire and Yorkshire, 1281
tot ; London, Chatham, and Dover, 171 to 4 ; and
Manchester, Sheffield, and Lincolnshire, 744 to 48.
Miscellaneous shares are steady. General
Credit, 21 to 2 dis. ; International, 11 to 11 dis. ;
Hudson's Bay, 141 to 4; Telegraph Construction,
154 to 4 ; Atlantic Telegraph Eight per Cent.
Preference, 74 to 4 ; and Anglo-American, 22 to 1.
In Banks Shares London and Westminster have
increased £l, and are now quoted at 68 ; Union of
London are better, at 354 ; City, 11/ to 121 ; Lon-
don and County, 501 to I ; London Joint Stock,
334 to 341.
The advance in the Bank rate of discount from
2 per cent., at which it has stood since the 25th
July last year, to 24 per cent. was not unex-
pected. The accounts published show the move-
Meets to have been necessary, while at the same
time the fact that it was followed by an almost
total cessation of discount demand proves that it
W4B amply sufficient to meet the circumstances of
the moment. Some persons had regarded an ad-
Vance to 3 percent. as not improbable, but although
there can be little doubt that the drain for
foreign loans, past and prospective, will before the
lapse of many months steadily drive our rate up to
3i per cent., which may be considered its normal
Point, the reserve now held by the Bank is equal to
more than 40 per cent. of its liabilities, and the
directors therefore can afford to part with a further
moderate amount before using stronger means o
Check the outflow. To what extent the course of
the Money Market may be affected by new foreign
loans, political complications abroad, or any other
Unforeseen incidents, it is, of course, impossible to
tell, and it would be vain to speculate.. Meantime
the advance is so moderate that it will not interfere
with legitimate trade ; and, by breaking up the
stagnation which has prevailed so long, it may even
act as a timely stimulus to the somewhat languid
energies of business generally.
The sum of £28,000 in sovereigns was with-
drawn from the Bank yesterday, of which 12,000
Were for India, and the remainder for Nova Scotia.
The joint-stock and other banks have advanced
their rate for deposits to 14 per cent., and the dis-
count establishments have advanced their rate for
Money at call from 1 to 14 per cent., for deposits
at seven days' notice from 11 to 1/ per cent., and
for deposits at 14 days from 14 to 2 per cent.
The return of paid clearing for the week ending
November 18 is as follows : Thursday, 12th,
£8,323,000 ; Friday, 13th, £26,057,000 ; Satur-
day, 14th, £12,632,000 ; Monday, 16th,
.101104,000 ; Tuesday, 17th, £9,818,000 ; and
Wednesday, 18th, £8,430,000 ; total, £75,364,000
At the half-yearly meeting of the Anglo-Egyp-
tian Banking Company a divilend was declared of
t 1103. per share, making, with the previous distri-
btltion, £2 10s. per share, or at the rate -of 124 per
etilt. for the year.
It is announced that Mr. R. 0. Yeats and Mr.
William Hancock were yesterday appointed mana-
gers of the London office of the Alliance Bank.

There seems_ at last to be a prospect of a settle-
41eat of the affair of the Canal Cavour Company.
circular was issued yesterday by the directors,
371 th copy of a proposed concordat for taking the
company immediately out of bankruptcy, and for
the resumption of the payment of interest on Ist
January next. A meeting of the English share-
'°ldera is to be held in London on Wednesday next,
the 25th inst.

At the extraordinary general meeting of the
Port Phillip and Colonial Gold Mining Company
resolutions were passed authorising certain modi-
fications in the deed of settlement, with a view
$° the reduction of the nominal capital of the
c(i'roPany.
The death has been announced of one of the
most eminent and esteemed London merchants,
1,
Christobal de Murieta, head of the Spanish
firms of C. de Murieta and Co. His age was
about 77.

The first pile of the new works of the Chartered
,
v-/as Company, near Barking Creek, was driven yes-
terday by Mr. Beck, the governor of the company.
The return from the Bank of England for the
lilek ended the 18th November gives the following
results when compared with the previous week :
11,45 t
1' 1110
deposits
deposits 5,030,529 ... Increase ... 283,771
C)tiler
18,762,567 ... Decrease .. 486,144
On the other side of the account :-
40vernment steeri-
Ottt **
securities*** £15,301,437 ... Decrease ... £184,437
16,873,882 ... Increase ... 556,817
NO The
toll unemployed._ 8,714,520 ... Decrease ... 580,320
le amount of notes in circulation is £23,489,100,
being a decrease of £447,215 ; and the stock of
being
111411 in both departments is £18,356,659, showing
4 decrease of £1,002,191 when compared with the
r3r6seeding return.
Subjoined is a comparison of the present position
of
the Bank of England and the prices of Consols
andl Preach Rentes with the corresponding week of
4alit year :

Ai Present. Same Weeklast Year.
Million
Reserve ..... X18,3'56,659 ... £22,236,228
9,867,559 ... 13,336,313
Leo in circulation 28,489,100 ... 23,899,915
date
of dis
2i per cent. ... 2 per cent.
Fols count
a 941 941,
each Itentes

BRITISH FUNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
u per Cent. Consols
Ditto for Account, Dec. 1
New
Cent. Reduced 921 1
Neww 3
21 per Cent - 2 i
per Cont. Jan. 1891
Do. /or 30 yrs expire sth April 1885 —
E Do (Red Sea 'relevaph), Aug., 11.-tOB —
chequer Bills. 1,000, 2 per Gt
0.
£5OO
_l6 15 I
Do.
£lOO & £2OO l5
Lank of England Stock, 4 per Cent
Do. account .
Canada 4 per Ceut. Bonds
1074
litter-Colonial Onnanun
1. . INDIAN GOVERNMENT SECURITIES
andiaMock, 105 per Cent., April 1874 2lB
De. Opening, for Account
Do. 5 per Cent..fuly, 1880
0,
1024 3 240. 4 Per Cent., Oct. 1888
Do. Certificates
DO. Ettfaced Pape,. 4 per Cent 92
'''9' 6 PeZ ()QM, 'ha. 1872 ~...a lO5