The Sun.
London, England, 1868-05-29 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE,

CITY, Two O'CLOCK.
The position of the Bank of England correspond
to that of the money market in general. There ha
been a falling off in business, and an increase in un-
employed resources. Thus, while the circulation has
declined the notes and coin in reserve have largely in-
creased, ito
that for the first time for many months
au addition has been made to the Government
Securities. Seeing that the employment of its means
in advances and discounts has declined, and there is
consequent diminution in the private securities, it
Singular that the Bank did not enlarge its
I,°"lin of GoVernment securities a fortnight earlier.
he relapse in business is demonstrated by the signi-
ficant fact of an addition of more than half-a-million
sterling to the private deposits which are now not
witch less than twentv-one millions in the whole. The
bullion is largely increased, and as further considera-
ble amounts will be sent in, the stock is likely in a
f
ew weeks to be greater than has yet been known.
The following are the principal changes since the pre-
vious return :
Decrease in Circulation
Increase in Public Deposits
Increase in other Deposits 5.26,643
Increase in ilovernment Securities 16,861
Decrease in other Securities 92,408
Increase in Bullion ...••••• 501,689
Increase in Reserve
Increase in Rest
Bullion in both Departments —.... 21,290,652
Reserve of Notes and Coin
Circulation, including Bank Bills. 24,147,874
The following is the returns of paid clearing for
the week ending Wednesday, May 27, as certified by
the chief inspector, Mr. Geo. Derbyshire :
May 21, Thursday ... £8,669,000
May 22, Fri day ••• "' 9,620,000
May 23, Saturday ... 10,275,000
May 25, Monday... ... 9,632,000
May 26, Tuesday •.• ••• 8,915,000
May 27, Wednesday ... 6,840,000

Total £53,951,000
This is a low total. This may be accounted for by
the two facts that during the week no settlements
have occurred on the Stock Exchange, while business
must to some extent have been checked by the
attractions of Epsom. But the total is not only less
than in the Derby week of last year, but the clearing
Upon the Derby Day itself is less. In 1867 the
aggregate clearing of the week was £57,468,000,
showing a falling- off in 1868 to the extent of
4:3,517,000 ; and on the Derby Day of 1867 the
clearing was £8,288,000, while this year it was only
4,840,000, showing a decline of £1,448,000.
The discount inquiry shows no improvement at 114.
to 1.6
'B. per cent.
The funds remain firm at the advance of esta-
blished yesterday. Consols are 96 to 96k for delivery
and 94i to ex div. for the approaching settle-
ment ; New and Reduced, 944 to 94g. ; Exchequer
Bills 7s to 12s prem. ; India Five per Cents. are
114 to 117 ; and Rupee Paper, 1041 to 1051.
The corn market is dull, but' not quotably lower,
althon(4ll there is no doubt that a decline will be
established on Monday.
Foreign stocks continue firm, and a further advance
threported. Peruvians are better, at 86 to 87, and
3ere is a rise of k in Mexican, at 161 to 161, in New
ganish, at 37i to 37-a. ; and in Turkish, at 381 to
i. Of Egyptian, the 1864 Loan and the Nine per
Cents, are better, at 81 to 82, and 87i to 884
respectively. The Railway Debentures are 91i- to
4, and the Viceroy's Seven per Cents., 731 to 74.
Italian are steady at 51/ to 51i, and Greek, 13i
to 14.
I.)American Securities are very firm. United States
,
Bonds show an advance of ,at 72 to 72k ;
better, at 961-, to 97i ; and Erie Shares 1, at
47 to 48.
Colonial Government securities are steady. Canada
per Cent. is quoted at 104 to 105 ; the 5 per Cents.,
u 2 to 93 ; Mauritius 6 per Cent., 105 to 107 ; New
South Wales 5 per Cent., 100 to 102 ; New Zealand
6 Per Cent., 109 to 111 ; Queensland 6 per Cent.,
108 to 109 ; and Victoria 6 per Cent., 113 to 114.
.English Railway shares are fiat, and most of the
tPirleinrncipisalid.escriptions show a reduction. Great Nor-
lower, at 102 to 103 ; and the (A Stock) f,
'astern,
07k to 98. A fall of is also established in Great
--',;lBtero, at 341 to 35/ ; Great Western, at 53i to
t'''*; London, Brighton, and South Coast, at 52i-
'A° 53 ; Manchester, Sheffield, and Lincolnshire, at
~-24 to 44i ; Metropolitan, at 1111 to 112/ ; and
Caledonian, at 74-k to 75 ; but London, Chatham,
and Dover is better, at 20.4 to 21 ; Lancashire
r'd Yorkshire are steady, at 1281 to 1281 ; Mid-
10G1 to 107 k ; South Eastern, 76i to 77 ;
London and North Western, 115± to 115/.
In Bank shares the dealings are moderately active
but the movements are confined to an improvement of
Chartered Mercantile, at 27-- to 28} ; and a de-
'one of in London and Westminster, at 704 to 70k ;
Agra (A), steady, at 10 to 104 ; Alliance, 13 to 12
X• ; Anglo-Austrian, 51 to 51 prem. ; Consolidated,
to to 41_; Imperial, 18 to 19 ; Imperial Ottoman, 1/
; London and County, 52 to 53 ; Oriental,
42 r'.-° 43; London Joint Stock, 3E: to 36. Union
of London 34 to 35k.
Discount and credit shares are quiet. National
„,1800unt are quoted 101 to ilk ; London Financial,
.V to 21i dis. ; International, 2 to 1/ dis. ; Gene-
tol Credit, 4' to 2g dis. ; and Credit Foncier,
3.
nglo-American Telegraph shares are 22/ to 23 ;
and Atlantic Telegraph, 5 to k dis.
foriAd.husrpseteinalailgweinlyeral meeting of the Chichester and
has been called for the
.10th June,
bill the purpose of submitting to the proprietors a
',,,now pending in Parliament.
~1-be following telegram has been received by the
:'-:°11 Pedro North del Rey Company, in anticipation of
Don
Brazil mail :—" Produce to 2nd May, 13,500
tatav _
a 3; estimated produce for April, 15,500 oitavas."
_The gold sent into the Bank yesterday amounted to
",154,000. On the other hand, 20,000 sovereigns
were withdrawn for Lisbon.
A further sum of £250,000 in specie has left New
-Lark for Europe.
The Erin has arrived, with £ll,OOO in specie, and
the Shannon is telegraphed from Lisbon, with £6,000
in specie from the Brazils..
The bills have been returned of Bassett, Green,
and Hewetson, hop and seed merchants. The
liabilities are small, and there is a prospect of a good
liquidation.
Messrs. A. Young and John Ball, the official liqui-
dators of the Imperial Mercantile Credit Association,
tTliounce as follows :—" In accordance with the 4th
clause -
of the arrangement made by us with the credi-
tl)ire in June, 1867, we now beg to give you notice
t at We are prepared to pay, on the Ist day of June
aiext, under discount, at the rate of 5 per cent. per
beTuni, the promissory notes issued to you by us on
3Outalf
, of this association, which become due on the
~70 of that month, and we have therefore to request
_411,7.t0 present such notes for payment at the Bank of
lionsd on the Ist proximo, the Bank having instruc-
ten, to pay all such promissory notes as shall be pre-
tor
`,e(l on or after that date, less discount as above,
.tweuty-nine days."
434 further dividend of is in the pound is announced
l
Ori)ayable on the Ist of June to the creditors of the
as 0411 Commercial Bank (Limited). This makes
.144 Paid.
tbl-arseilles advices state that the arrivals of grain at
p`'rilt
e port had ceased in consequence of the fall in
striect, and that business has become exceedingly re-
go ,9• The French markets appear to be fully
dePJ.,,d, and prices are very weak, and sellers are
`Tioed as urgent.
A
ace_remittance of £1,222 6s 2d has been received on
r;ii_int of Ecuador dividends.
of '''',e,.Russiati Government has authorised the issue
?oligations to the amount of 17,000,000 Dutch
toroillajor the construction of a railway from Jelez
toGrissl
being a continuation of the line from Jelez
andliner
versus ul Riga to Saratow. The lengthis 177
cent • The Russian Government guarantee 5 per
!nterest, receiving the capital, so that the
tied?,eription becomes really a loan. The obligations,
eeoctiug the allowances, are issued at 74i- to 74 per
whilsubscriptions extending to November next,
rate loe interest is payable half-yearly, at a fixed
'4 of
Exchan e in Berlin, Atusterdatn, and London.
ceize,,,l3bligationsg are' redeemable at par in 81 years,
The
in 1870.
Ita;:e1 receipts of the Great Southern of India Rail-
erea4eer the week ending February 29, show an in-
-41. of £122 16s sd, and the mileage an increase of
Theeort. traffic receipts of the Grand Trunk Railway
filloiPallY of Canada, for the week ending May 9,
kas
of 186 ho ncrease of £3,685 as compared with the cor-
a; tiding week 7.

BRITISH FLUIDS —TWO O'CLOCK.
3 (iOVERNMENT FUNDS.
961 51
1:1°1. eent. Consols
94 I
-Oitt 4
a Leor Account, Juno ...
94/ i-
-1,1,!3'°' nt. Reduced
9411
1),T., 7 3 per (lent
''''? 21 Per Cont. Jan. 1894
I)°'
5 . ' 1873
474.1.,4uiti4,75k"'. "pnire sth Jan- 180 —
Do'-'0- for di, yYr:B' t Wed Bja 1.10 xf,,
aph) A g , 19 8.•
expire sth, Aprilu. '18085.7
7-12 ion
21.;
040quor bills, £l,OOO, 2 per CC
11
.
Do. X5OO
—1/
II kn,
£lOO & £2OO
,k of Englaza Stock, 41 per Cent
246 8
4.'0. Acconnt
1 .INDIAN GOVEUNMENT SECITIUTIES.
444 %took, 10} per Cent., AprillB74
0_
ri-,°' Aecoun
...J 5 ,
117 1
• per Lent. July, 1880
_
D 4 Per Cent Oct 1888
4,0. 0 • , Oct. erttficates
A°•
trtfaCed Paper 4 per cent II