The Sun.
London, England, 1868-12-03 00:00:00

MONEY MARKET

AND
CO iMERCIAL ti.7TELLIG2NCII,

CITY, Two o'CLocx
INCREASE IN THE BANK RATE OF
DISCOUNT.

The directors of the Bank of England at their
weekly meeting to. day, have raised the rate of dis-
count from 2i per cent., at which it was fixed on
the 19th ult., to 3.

The discount establishments and joint stock banks
have also increased their terms, but the demand for
money is by no means active. The change in the
Stock Exchange for advances on English Govern-
ment securities is 2 per cent. _ _

Consols are 92} f 1 for money; ditto, for Ac-
count, 92} ; Three per Cents. Reductd, 92} 1 ;
New Three per Cents, 921 ; Exchequer Bills
£l,OOO, 2 per Cent., 7 prem. ; ditto £lOO and £2OO,
10 prem.

India Stock, 5 per Cent., July, 1880, 113/ 13 ;
ditto, 4 per Cent., Oct., 1888, 1024 3 ; ditto, En-
faced Paper, 4 per Cent., 914 ; ditto Bondi, under
£l,OOO, 7 prem.

In the foreign market Italians of 1861 are per
cent. higher, and Spanish of 1867 1, but Brazilian
of 1865, Egyptian of 1868, and the Jaroslaw loan
have declined Ito 4. Quotations are as follows :
Brazilian of 1865, 77/ to 781; Chilian of 1867, 961
to 97 ; Egyptian of 1864, 831 to 4 ; ditto of 1868,
741 to 1 ; Italian of 1861, 561 to ; ditto of
1868, 21 to / premium ; Mexican, 151 to / ;
Peruvian of 1865, 81 to ; Russian of 1866, 894
to 901 ; nitto Nicolai, 65/ to 601 ; ditto Orel, 80/
to 811; ditto Mascow-Jaroslaw, 791 to 1, ex div. ;
Spanish of 1867, 33/ 34 ; Turkish of 1858, 631 to
641 ; ditto of 1862, 64/ to 654 ; and ditto of 1865,
101 to 40/.
In railway stock prices are giving way. Metro-
politan stock has declined 1 per cent. ;
Great Northern A, 1; and Brighton, 1. Great
Western, on the other hand, is 1 better. Sub-
joined are the quotations :—London and North-
Western, 1121 to 1 ; Great Western, 481 to 1 ;
Midland, 1111 to f ; London and South-
Western, 871 to 881; Great Eastern, tO/ to
41i ; Brighton, 46/ to 471 ; South Eastern, 79 to
; Metropolitan, 1021 to 1 ; Great Northern,
1051 to 106 ; ditto A, 105 to f ; Caledonian, 741
to 1 ; London, Chathamand Dover, 16/ to 171.
American 5-20 Bonds are steady, at 74i to 1.
In Rank Shares very little doing. London
and Westminster, 671 to 681 ; London and
County, 511 to I ; London Joint-stock, 354 /
Union of London, 371 to :381 ; Anglo-Austrian
.7f to 8 prem. ; and Imperial Ottoman, 11 to
prem ; and Consolidated, Ito rem.
In Miscellaneous shares prices are as follows :
Hudson's Bay are decidedly flat,at 131 to f ; Genera'
Credit, 2 to 1/ dis. ; international Financial, 11
to 11 dis. ; National Discount, 12 lo 4 ; Telegraph
Construction, 15 to 4 ; Atlantic Telegraph Eight
per Cent. Preference, 3/ to
.4 ; and Ango-Ameri-
can, 221 to 1.
According to Mr. Reuter' telegram, this morn-
ing, the French 3 per Cent. Rentes were 71f. 80c.
The sum of £25,000 in sovereigns was withdrawn
from the Bank yesterday, making a total of
£165,000 for the week.
Ihe La Plata, from Brazil via Lisbon, has arrived
With £4,479.
In consequence of the higher rate obtained for
the India Government draughts bar silver has
become more firm, and the limited amount in the
market has been sold at 601 d. per ounce, an ad-
vance of id. The demand is probably not on a
very large scale, but, as there is now no supply
here, any further parcels required would have to be
imported from the Continent, and at a still higher
rate.

The biddings for £200,000 in bills on Calcutta
and Madras was held yesterday at the Bank of
England. The whole amount was allotted to Cal-
cutta, and the minimum price was fixed at ls. lid.
on both Presidencies, a rise of 2 per cent. Ten-
ders at 1s 111 d. will receive about 80 per cent. The
rate thus paid is about 1 per cent. higher than on
the last occasion, and indicates a proportionate fur-
ther increase in the demand for means of remittance
to the East.
The half-yearly meeting of the; London and
Provincial Turkish Bath Company (limited) was
held this day at 12 o'clock, at the Cavendish Hotel,
aermyn-street, when the report, which announced
a dividend at the rate of 8 per cent. per annum,
was unanimously adopted.
At a general court of the proprietors of the Bank
of England, held yesterday at the Bank, Mr. Geo.
Lyall was elected as a director for the remainder of
the year, in the room of the late Mr. Sheffield Neave,
Without opposition.

It is staled with regard to the allotments of the
Charkow-Krementschug Loan that subscribers will
receive about one-fifth of their applications.
The annexed note with regard to the affairs of the
Metropolitan Railway has been posted in the Stock
Exchange :

" METROPOLITAN RAILWAY.
" Dear Sir,—The attention of my directors hav-
ing this day been called to the various paragraphs
which have from time to time appeared in the public
prints respecting this undertaking, they have
adopted the following resolution :
" ' That nothing has occurred to the knowledge
or in the opinion of this Board to justify the least
apprehension on the part of the shareholders, yet
that, in compliance with numerous requests, a
statement eiplanatory of the position and prospects
of the company be forthwith prepared and issued.'
&c., " JNO. HENCHMAN, Secretary.
" To Mr. M. Slaughter, Secretary,
Stock Exchange."
At the annual meeting of the Scottish Union In-
surance Company at Edinburgh yesterday the new
life policies for the past year were stated to have
been 884, insuring £478,347, and yielding in new
Premiums £13,367. The results of the fire business
lave been satisfactory, a considerable surplus hay-
Ing been derived from that account. The invested
funds now exceed £1,045,000.
The Manchester advices speak of the failure of
Messrs. William Morris and Son, spinners and
manufacturers of that town, with liabilities vari-
.°llsly estimated at £15,000 to double that amount.
It is hoped there will be a favourable liquidation.
The progress of the wool sales has been satisfac-
t°rY. The quantities catalogued up to present date
represent 26,751 bales, and the attendance of both
home and foreign buyers has been larger than usual,
hbotwithstanding the recent sales at Antwerp and
Belgium. Prices show an improvement of id. to
1d• per lb.

The traffic of the Midland and Metropolitan Rail-
!(aY shows an increase, the former of £4,818, and
1e latter of £1,787 ; but that of the London and
North-Western Company exhibits a decreash of
£1,716.

the The Morning Chronicle of Halifax, N.S., gives
1., following particulars as to the finances of the
"ouainion of Canada for the month of October. Re-
viz., Customs, $5985,574; Excise, 238,804 ;
-t-est-offiee, $15,349 ; bill stamps, $12,339 ; public
l'iol`ks, including R.R., $140,658 ; miscellaneous,
sli
23,132 ; total, $11,545,856. Expenditure,
01,560063.
lien he liquidator of the Cardiff and Newport Col-
Y Company has made a call of £2 10s. per share,
payable on the 24th inst.
The half-yearly meeting of the Canada Company
Is called
for the 31st inst., when a dividend is to be
declared.
The Dutch Rhenish Railway Company have given
°tic° that the coupons marked December, 1868,
attachedah
to the new certificates of the fully paid
`Ares, must be sent to the London office of the
c
°ltipany by the 15th inst.
riCk„, meeting of the Utnzinto Plantation and
6,7'11,3 Company of Natal (Limited) will be
beta on the Bth inst., " for the purpose of laying
aner,e Such meeting an account, showing the acts
w,. dealings of the liquidat)rs, and the manner in
tie eh the winding up has been conducted during
"Re past year.
rj)llring the last three years numerous memo-
of from the committee of English shareholders
he Twin and Savona Railway Company have