The Sun.
London, England, 1868-01-23 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGZ NOB,

CITT, TWO O'CLOCK.

The Stock Markets are generally well supported,
though there is no great amount of business in pro-
gress. The principal feature is a further considerable
advance in the stocks of the Caledonian Railway
upon the improved prices of yesterday, consequent
upon the iftue of the replies to the report of th e
Investigation Committee. From sympathy other
railway stocks have also improved, though to a less
extent. The Funds are a shade stronger, and they
maintain a moderately firm tone. Foreign Stocks
are for the most part dull from inactive business.
The Discount Market is exceedingly quiet, with
increasing supplies, at 14 to 1 per cent. for first-
class bills.

Consols have recovered k, and are now quoted at
928 to 93 for money and account. New and Re-
duced Throe per Cents., 928 to 93. India Five per
Ceuta., 112 to 1121. Bank Stock, 212. Exche-
quer Bills, 225. to 275. preen.

Foreign Stocks are , rather dull. There is a
relapse of 1 in Brazilian (1865), at 76} to 77} ;
and in Italian (1861), at 42/ to 43 ; and kin
Portuguese scrip, at 21 to 2} ; and in New Spanisb,
at 351- to 35}. Greek Bonds are exceptionally
firm, being scarce ; the quotation is 12} to 121.
Turkish (1865) are flat at 311 to 311._ _ .

The New Honduras Loan is steady at k to 11-
prem., ex coupon.

American Securities are steady. United States
5-20 Bonds, 721 to 73 ; Erie RaiNay, 48 to 49 ;
Illinois, 85 to 85i.

Atlantic and Great Western Railway Debentures
have risen to 24 25, and the Consolidated Mort-
gage Bonds are firm at 24 25.

The chief feature in railways is a further rise of
11 per cent. in Caledonian, on the reports published
this morning. The present price is 761 to 761.
The market generally is firmer. Great Eastern
and Midland are I better ; and Great Western,
Metropolitan, and London and North Wes-
tern, Lancashire and Yorkshire are
lower. The prices current are as follows :-
291 to 301 ; Great Western, 461 to 47 ; Lanca-
shire and Yorkshire, 1231 to 124 ; Midland,
1041 to 104 ; South Eastern, 684 to 681;
Brighton, 461 to 474 ; Sheffield, 441 to
444 ; London and North Western, 117 to
1171; Great Northern, 1061 to 107/ ; do., A,
Great Eastern, 1081 to 109 ; and Metropolitan,
1171 to 1171. •
London and County Bank Shares are 531 to 541;
and London and Westminster, 711. to 721.
General Credit Shares are 21 to 2} dis. ; and Lon-
don Financial, 24 to 22 dis.

CITY, TWELVE O'CLOCK.

The report of the annual meeting of the Norwich
Union Fire Office for the year just closed will be
found in another column. It shows that great suc-
cess attended the operations of the office during the
ILA twelve months, and some notion of the business
transacted may be gathered from the fact that the
gross total of subsisting policies on the 29th of
September, 1867, amounted to no less a sum than
eighty-threJ millions. The proceedings wera alto-
ge ,her of the most satisfactory;description, and from
the unanimity of the meeting the most remarkable
success may be fairly relied upon for the future of
th's vast and wide-spreading iustitution.
tie sum of 7,000 sovereigns were taken from the
Sauk yesterday for Russia, but 3,000 from Belgium
Were taken in, making since the date of the last
retard £17,000 sent in, and £26,000 withdrawn.
It has been decided to wind up voluntarily the
Albert Veterinary College (Limited).
The half-yearly meeting of the North London Rail-
way Company has been called for the 20th February,
or the transaction of the ordinary business of the
eoMpany„
The ordinary half-yearly meeting of the Mediter-
ranean Extension Telegraph Company has been con-
vened for the 7th February, for the transaction of the
usual business of the company.
139 a decree, dated the 28th November last, changes
are made in the standard of money at present in use
to the Republic of Mexico, based on the exclusive
adoption- ort he deCitnal systetu-or coinage. The dollar
is retained as the unit of currency.
The report of the North-Western Bank (Liverpool)
states that in consequence of recent heavy losses,
Which have absorbed the reserve fund of £20,000 and
a large portion of the profits of the past half-year, the
dividend proposed is only at the rate of 5 per cent.
per annum.
An official report, dated December 20th, of the
Western
Superintendent of the Atlantic and Great
ivvestern Railway, shows what reforms have so far
,been made in the working arrangements of the line.
The following are extracts :—" You are well aware of
the condition the road was in on your taking posses-
;e of it, and of what was necessary tq be done at
oce to put it in safe order. This, I think, has
ren fully done. The locomotives are in as good
er as will average on any road. We have made
t-" 1. improvements in them, and are running them
0 cheaper than has been done. We are now down
fie a mile, covering all expenses ; and lam satis-
-4 that we can get down to 27c. per mile as we
te!gress with our economy. Much improvement has
,__vu wade in the passenger and freight cars. We
getting them in better order, and now that we
ii_ve a good track to run on, our cost of repairs should
tfigielni%ll. I much regret that our receipts are so
sta:ted-by the loss in the oil trade, and the general
th_enation of business, caused by the contraction of
ti:_,national currency and the severity of the drought
itlir„sog the latter part of the summer and autumn.
zrat.i.affects travel as well as freighting. It is
bosiqing, however, to know tbat Dour 1
t'less is good, and we are doing our full pro-
tijon with other lines. It has been my especial
toau; to work economy in every department of the
thud' and get our working expenses down to where
'eY Should be.
waloi directors and auditors of the Caledonian Rail-
bajiYt have issued reports in reply to that of the com-
b ee• Both take exception to the plan adopted
zh3r the committee in regard to the capital and revenue
arges
kod respectively, as being contrary to custom
resi:uure or less inexpedient. The directors offer to
For themeould the shareholders think it advantageous
ito do so.
of I,t_t_a stated that the Northern Railway Company
tio,'l3.`luice are about to issue a new series of °blip-
At a
Noste meeting. of the creditors of Mr. Bennett, iron
£„l., of Wellington, the liabilities were shown to
efori44,ooo, and the assets £15,000. The acceptance
u,.offer of 5s in the pound was deferred.
lth regard to the market for American Securities,
Z. F. Satterthwaite and Co. state as follows.
of ,am!though there has not been a very large amount
41,,..',Ilettness in American Securities on the London
I.o"nr_a, during the past week, prices have improved all
,-fau,a; United States' 5-20 Bonds have advanced tc
1410 72, and 10-40's to 67/ to 68i In Illinois Cen-
,tha.rest there has been some good buying on- the
oejctsha. the affairs of the company are in an emi-
" satisfactory condition ; they close 851 to 85f, or
°early
also, 1 per cent. higher than this day week. Eriee
u.,,,anciatfo4rB to 49, exhibit an improvement. The de.
ehjoh Atlantic and-Great Western securities,
21, tillewcie noticed. in our last, has continued, and from
enshoaslidated Mortgage Bond rose to 26, from
bwhebieeh,.tb‘jer° been a slight reaction to 24 to 25 ; the
hav,"turea are at the same price, although lately they
Cionsoloidennnulded some 3 to 4 per cent. more than the
Se ated Bonds. The inquiries for the First and
aude°tne Mortgage Divisional Bonds are also numerous,
first 'all:, have been taken at from 50 to 55 for the
•Tfieu? 48 to 52 for the second."
Weltielffic receipts on the Atlantic and Great
aulc,ii,:tu Railway for the last week in December
resp ed $97,428 against $98,318 in the cot,
period of 1866, showing a decrease of IMO.

BRITISH FUNDS—TWO OVLOOK.
11'4
$ `anrsionizziT FUNDS.
ÜblIC Con 1
1,0 .
_
a -"' • Account, Feb. 6
~,per Cent. Reduced 92 31
i,Teew 3 per Cent 92i 31
J.:l)s' 2i per Cent. Jan. 1894 —
4 °. per Cent. 0 an. 1873 —
Illniities, 80 yrs, expire sth Jan., 1880 —
Do2o for 30 yrs, expire sth April 1885 —t, (Red Sea Telehraph), An, 19"
c'telltor Bills, £I,OOU, 2 &24 per Ct —
023 6 pin
.£5OO 27 3 pin
Beak to. £lOO & .£2OO 27 3in
"
~o• Acc of England Stock. 41 per Cent —
p
ount
Ina 1-butN ;10VERNhiENT SEM:ATM,.
--,io.ioiltock 10f Cent., April 1874 —
h.% :ec ,per
-
Do. ._ onnt
1121 12
b. 0 per Cent. July, 1880
I:,,°' 4 Pot' Cent., Oct. 1888
t)o. Certificates
LI:- E, ttfneed Paper 4 per Cent B7 i
0 • 0 per Cent., Jan. 1872
e• 5,.} per Cent., May 1879 loB}
°• a Per Cent ,Rep, Deb., 1872 —
Do,Do. •
do. 1877 —
do. 1882 —
00 Deb. 5 Per Cent., Aug. 1873
o.ll4der 411000 .... ...... toes