The Sun.
London, England, 1868-01-02 00:00:00

310-11,1 i ZARKET

AND

OMMERCIAL i.;

CITY, Two O'CLOCK.

The Stock Exchange re-opened this morning, but
business still partakes of a holiday tone, and few
transactions have been effected. The tone is not un-
favourable, but dull, with steadiness in the English
Funds, and a further improvement in the stocks of
the leading railway companies. The Foreign Mar-
ket is quiet. Some abatement is apparent in
political anxieties, but, so far, it has not produced
any decided reaction.

The Money Market remains quiet. The trade
bills on offer arc few, and those of the " fourth'
are apparently provided for. The supply is also
small. The minimum rate is 18 per cent.
Consols are rather firmer, at 92 to 928 for money
and account. New and Reduced Three per Cents.,
918 to 92 ; India Five per Cents., 1104 to 1111 ;
Bank Stock, 239 to 241 ; Exchequer Bills, 235. to
28s. prem.

The only improvement in Foreign Stock is a re-
covery of lin Mexican, at 151 to 151. Italian of
1861 are heavy, the present price being 444 to 441 ;
Greek are the same, at 11f to 12k ; New Three per
Cent., 331 to 341 ; Turkish (1865), 321 to 321 ;
Portuguese Scrip, to f prem, and Old ditto, 39 to
39f.

The New Honduras Loan is I "I prem. ex div.
American Securities are steady :—United States
Five-twenty Bonds are better, at 721 to 72i ;
Erie Shares, 48 to 49 ; and Illinois 89 to 90.
Atlantic and Great Western Railway Debentures
remain steady, at 20 22, and the Consolidated Mort-
gage Bonds at 18 19.

The heavy priced railway stocks continue to im-
prove. This morning there is a further recovery of 1
in Midland, at 1041 to 105 ; of in Great Northern
A, at 109 to 110, and in Lancashire and Yorkshire, at
123 k to 123,i, and of i inMetropolitanAt 1151 to 1161
On the other hand thereis a relapse of # in Sheffield at
44/ to 451 ; and of in London and North-Wes-
tern, at 113.1 to 1141; in Great Western, at 44
to 44k. ; and in Brighton, at 48 to 48f. South
Eastern shares are steady, at 66i to 67 ; Great
Eastern, 31 to 311 ; and Great Northern (A) 109
to 110.

There is no change in Bank Shares. London and
County are 54 to 55 ; London and Westminster,
68 to 69 ; London and Joint Stock, 34/ to 35/ ;
and Alliance, 14 to 10/ dis.
General Credit Shares are 21 to 2; dis. ; Lon-
don Financial, 23 to 22 dis. ; and Credit Foncier,
3/ to 1 dis.

CITY, TWELVE O'CLOCI.
Bar gold to the value of £38,000 has been sent
into the Bank.
La Plata takes 500 sovereigns to the West Indies.
The Maria Pia is announced from Lisbon with
£19,515 in specie.
The meeting of the City Bank is announced for the
21st inst.
The Port Philip and Colonial Gold Mining Com-
pany have called a meeting for the 21st inst., to
receive the report of the directors and to declare a
dividend.
Messrs. Brown, Shipley, and Co., announce an
issue of .£1,000,000, 7 per cent, bonds, of the Panama
Railroad Company at par. The bonds will be
redeemed in thirty years.
The committee of the debenture holders of the
Atlantic and Great Western Railway have issued a
long report, in which they state that they have secured
the reconsideration of their claims, and that they have
no apprehension of the result.
The biddings for £200,000 in bills on India took
place yesterday afternoon, at the Bank of England,
and £125,000 were allotted to Calcutta. The mini-
mum price was fixed at is 101 d on Calcutta and
Madras, and tenders at and above that price will
receive in full. No tenders on Bombay were invited.
These terms show a further diminution in the demand
for the means of remittance to the East.
The particulars are published of twelve bonds of
the Buenos Ayres Six per Cent. Loan, and of sixty
bonds of the Three per Cent. Loan, together amount-
ing to £28,400, which have been drawn for redemption
at par.
The following is the concluding paragraph of Messrs.
Eusker, Offor, and Co.'s freight circular :—" Although
dangerous at all times to assume the office of a
prophet, we anticipate better freights during the pre-
sent year on several grounds. The production of
ships in this country, our North American Colonies,
and the United States has been very limited during
the last two years, and at the same time loss of ship-
Ping by casualties has been unusually heavy. We need
Only refer to the cyclones and hurricanes in India and
the West Indies in proof of this ; but not only has
the amount of tonnage decreased, but our commerce,
which has suffered so long through over-trading and
financial disturbances, may now be expected to revive,
and create a more active demand for shipping, with a
reduced supply ; these considerations, combined with
the facts that the carrying trade must exist, and that
it cannot go on unless made remunerative, warrant us
in looking forward to a season of steady prosperity to
the shipping interest."
The following is Messrs Edwards, Eastley, and
Co.'s review of the market for Linseed during the past
year :—" Linseed has been unusually steady since our
last annual was issued, and the course of prices
has assimilated very closely to that of 1866. 67s
c.f. i., and sound bags, was the value of Calcutta on the
first of last January, and stocks being very light it
improved is 6d per quarter by the end of the
monh.
tAn increased supply caused a decline of
2s to 3a per quarter during February, but
the decline was recovered in March, and again
lost in April, when 66s was current value, from
which it scarcely varied until the end of June. The
great scarcity of spot seed caused a reaction to 68s in
July, and from then until now that has been the
actual value ; with an occasional fluctuation of 6d
to is, the tendency generally being upwards
rather than otherwise. To-day the price is
68s, and stocks in warehouse " nil, " and
at mills, with few exceptions, very short.
Prices for seed on the way and for shipment were
quoted from 3s to 5s lower than for ready seed,
during the spring and summer months, but that ex-
cessive difference has lately disappeared, and they are
now more nearly on a par, owing to the relatively
larger quantities on the way. In Black Sea seed a
considerable trade has been done at about relative
fluctuations in price to Calcutta, but the difficulty of
estimating quantities on the way continues to increase,
by reason of the large supplies now sent forward by
steamers, so that there is less opportunity than formerly
for speculative operations, and they are consequently
becoming more and more circumscribed. 6s was
anuary's value, followed by a decline of 5s the 6d
next
month, and a recovery of 4s in March, at which time
the cargoes were delayed by continued easterl
a decline to y winds;
61s occurred on the arrival of the ships,
and there was afterwards little variation until June,
when 64s was again paid, and from then until now
Is to 2s per quarter has been the extreme fluctuation,
the tendency, as with Calcutta, being always to a re-
covery of any temporary depression. Very little of this
quality offers on sale to-day, and 66s is nominal value.
The lowest quotation for seed for shipment was 59s 6d
(in June), and the highest 67s 6d, which price was
marked in October, when for the first time for many
months forward seed was not purchasable except at
an advance of is to is 6d per quarter upon the spot
value. The demand for seed has remained through-
out the year somewhat in excess of the supply,
and so long as such a state of things
con-
tinues high rates must naturally be expected.
Qualities of all sorts continue satisfactory, and the
"Association" has reason to be well satisfied with
the fruit of the labour bestowed on its formation, and
the persevering efforts to bring about the result
which was, and is, its primary object. For next
season large supplies are everywhere reported, and
from the Black Sea about 120,000 quarters have
already been contracted for, for Spring and Summer
hipment, at from 62s to 60s per quarter, ae-
sorcling to periods of delivery."

BRITIS El FUNDS.—CLOSING PRICES.
GOVERNMENT FUNDS.
3 per (Aut. Consols
Do. Account,
oper Cent. Reduced
1}
New 3 per Cent 9li 2 }
Now 21 per Cent. Jan. 1894
~.
Du. a per Cent. Jan. 1873 Innuitios, 30 yrs, expire sth Jan., 1880.
Do. for 31 yra, expire sth April 1885 —
no (Rod Sea Televaphl, A.U.,., 1908._
E :01,7•,p1,3r Bills, £l,OOO, 2 &2i per Ct 25 pm
Do £5OO pm
Do. ZlOO & £.?00
Bank of England Stock. 41. per Cent 2llpoi 39
Do. Account ......
INDIAN GOVERNMENT SECURITIES.
udiart iltock, 10} per Cent., April 1874 —
u. Account
Do. 5 per Cent. July, 1880
Do. 4 poc Cent., Oct. 1838
Do. Corti ticatos —
Do. Enfaced Paper 4 per Cent — Do, 5 per Cent., Jan. 1372
Do. 5?,- per Cent., May 1879 lOB -}
D). 5 per Cent., Rup. Deb., 1872 —
Do.
Do.
do. 1877 —
..j
do. 1882 — ll,_