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

ONE

MARTiET

AND
cIOMMERCIAL tIiTELLIaNNOR,

CITY, Two O'CLOCK.
The business to-day on the Stock Exchange was
by no means brisk, and prices drooped, but in the
Foreig❑ Market an improvement has to be quoted
in some of the Securities. Railway Shares arc,
with few exceptions, unchanged in value.
Money is plentiful in the discount market, and
transactions have taken place at f, and in some in-
stances 1 below the Bank rate.
Consols are 94* 31 4* for money; Three per
Cents. Reduced, 9:4 1 ; New Three per Cents,
92* I 2 i; Exchequer Bills £l,OOO, 2 per Cent.,
16 15 prem. ; ditto, £lOO and £2OO, 15 prem. ;
Canadian 4 per Cent. Bonds, 1863, 1071.
India Stock, 108 per Cent., April, 1874, 218 ;
ditto, 5 per Cent., July, 7880, 115 - 1; ditto, 4 per
Cent., Oct., 1888, 1021 2 .4' ; ditto, Enfaced
Paper, 4 per Cent., 92 ; ditto, 5 per Cent., Jan.,
1872, 105 f ; ditto, Bonds under £l,OOO, 16 prem.
In the Foreign Market Egyptian and Spanish
have risen 1 to 1 per cent., Portuguese Bonds *
per cent., and the Orel Loa❑ 1. Brazilian are
quoted 772 to 781 ; Chilian, 942 to 951 ; Egyptian,
814 to 82 ; ditto of 1868, 73* to 748 ; Italian,
558 to 56 ; Mexican, 151 to 16 ; Peruvian
81it to 1 ; Purtuguese, 40 to 1 ; Russian, 191 to 2 ;
Nicolai Railway Loan, 651 to 1 ; Orel, 811 to it ;
Moscow-Jeroslaw, 82f to I ; Spanish, 331 to 34 ;
Turkish, 68 to f ; ditto of 1862, 671 to 681.
The Italian Debentures is at 3 to 2 prem.
United States 5-20 Bonds are 74* to s ; Erie
Railway shares, 391 to 30 ; Illinois Central, 9.52 to
944 ; Atlantic and Great Western Debentures, 381
to 4 ; and the Consolidated Mortgage Bonds, 382
to 391.
In the Railway Market Metropolitan and Cale-
donian stocks have fallen 1 to 2 per cent., viz., to
1062 107 and 741 75* ; Great Easterns are at 422 to
London and North Western are 1131 to f ; Great
Western, 50* to a ; Midland, 1121 to f ; London
and South Western, 873 to 882 ; Brighton, 482
to 49 ; South Eastern, 791 to 3- ; Great Northern
A, 104 f to 1051 ; Lancashire and Yorkshire, 1281
too ; London, Chatham, and Dover, 171 to 1 ; and
Manchester, Sheffield, and Lincolnshire, 741 to 48.
Miscellaneous shares are steady. General
Credit, 2i to 2 dis. ; International, 11 to 1$ dis. ;
Hudson's Bay, 141 to f ; Telegraph Construction,
153. to 3 ; Atlantic Telegraph Eight per Cent.
Preference, 71 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 35} ; City, 112 to 121 ; Lon-
don and County, 501 to 2 ; London Joint Stock,
332 to 341.
The advance in the Bank rate of discount from
2 per cent., at which it has stool since the 25th
July last year, to 23 per cent. was not unex-
P"ected. The accounts published show the move-
relents 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
Was amply sufficient to meet the circumstances of
the moment. Some persons had regarded an ad-
vance to 3 per cent. 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
33 Per cent., which may be considered its normal
point, the reserve now held by the Bank is equal to
teore 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 1$ per cent., and the dis

count establishments .have advanced their rate for
money at call from 1 to 11 per cent., for deposits
at seven days' notice from 1.1 to 14 per cent., and
for deposits at 14 days from 11 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,
; 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
tllOB. per share, making, with the previous distri-
ution, £2 10s. per share, or at the rate of 121 per
cent• for the year.
it is announced that Mr. R. 0. Yeats and Mr.
William Hancock were yesterday appointed mana-
gers of the Loudon office of the Alliance Bank.
There seems at last to be a prospect of a settle-
rnent of the affair of the Canal Cavour Company.
circular was issued yesterday by the directors,
Nvith Copy of a proposed concordat for taking the
„
the
immediately out of bankruptcy, and for
"ge resumption of the payment of interest on Ist
January next. A meeting of the English share-
holden is to be held in London on Wednesday next,
the 25th inst.
At the extraordinary general meeting of the
;von Phillip and Colonial Gold Mining Company
polutions were passed authorising certain modi-
fications in the deed of settlement, with a view
t 0 the reduction of the nominal capital of the
celnpany.
The death has been announced of one of the
..kost eminent and esteemed London merchants,
firth
Christobal de Murieta, head of the Spanish
of C. de Murieta and Co. His age was
about 77.
The first pile of the new works of the Chartered
Gas Company, near Barking Creek, was driven yes-
rday by Mr. Beck, the governor of the company.
The return from the Bank of England for the
/5-40 k ended the 18th November gives the following
rekilts when compared with the previous week
i„est
pllllLeiri deposits
deposits
5,030,529 Increase ... 285,771
18,762,567 Decrease .. 486,144
..
t 6 other side of the account :
-°+"unient securi-
:g23 .............
11,8er securities K873,882 ... Increase 556,817
ttr 8 unemployed 8,713,520 ... Decrease 580,320
b4:3 amount of notes in circulation is £23,489,100,
elng a decrease of £447,215 ; and the stock of
in both departments is £18,356,659, showing
decrease of £1,002,191 when compared with the
eseeding return.
of v_tibioined is a comparison of the present position
and Bank of England and the prices of Consols
laet French Rentes with the corresponding week of
Year

Same Week
last Year.
£18,356,659 £22,236,228
Illeosteerv.o
9,867,559 13,336,313
, Btu circulation 23 489 100 23,899,915
—ztte 0, ••• circulation ...
veio.enuseilsncoteus.n.t.
941
lf. 05c. 68f. 30c.

At Present.

BRITIaa irUNDS—TWO O'CLOCK.
a tiOVERNMENT FUNDS.
941 3i 41
Per Cent Consols
8 Ditto for Account, Dec. 1
Isi.(l3)!r,Cent. Leduced
921 1-
2i. i 2 1
I_ `v 0 per Cent
"`tivv• 2} per Cent. Jan. Mly4
Do
bo
( ted or 30 yrs, expire sth April 1885 —
Xelicquer v
It Sea Teleaph), Aug., 1908
1—
Do, 6
15
Bills, .£l,oou, 2 per Ct
Do, £5OO
]
£lOO & .£2OO l5
,
1344 k of England Stock, 4 per Cent
ikter
Lto• account
~,
anda 4 per Cent. Bonds lO7l
oluial Onnatuin
1„
.INbIAN .30VEltINMENT SECURITIEb.
"tha tock, 104 per Cent., April 1874 2lB
Do Opening, for Account —
rsno. 5 per Cent. duly, Imo
102} 3 21
,I',o. 4 pet. Cent., Oct. 1888
'-10. Certificates
130. 5 perc ' 92
Do. Enfaed Centa
~Jan. 1872 Ant
.....