Welsh Newspapers

Search 15 million Welsh newspaper articles

Hide Articles List

13 articles on this Page








OUR "CITY" ARTICLE. THERE was considerable excitement on the Stock Exchange on Saturday. The news that Prussia had rejected the proposal for an armistice, com- bined with doubts as to the possibility of a very speedy settlement of the great disputes which are now agitating Europe, produced a feeling of dis- appointment, under the influence of which a por- tion of the great rise attained during the former two days was lost. Except, however, in the case of certain securities which are peculiarly liable to be acted upon by peace or war, the markets, on the whole, retained considerable steadiness; and it is also worthy of remark that the French funds experienced a recovery of i, from the fall of 1 per cent. which was produced by the anticipated rejection of the proposed armistice. Consols at one period were quoted tper cent. lower, but at the close of the day the reduction was limited to t. Preparations for the monthly settlement on Tuesday occupied attention. In the railway mar- ket the general tendency was rather unfavourable, but the fall did not exceed i to i per cent., and was limited to a very few lines. As regards foreign stocks, the chief weakness was shown by Italian, in which the relapse was It to 2 per cent. 2 Turkish and a few other stocks were likewise lower, but some securities, including Mexican Bonds, im- proved. Lombardo-Venetian Rail way shares fell 15s., and the decline extended to the Belgian and French lines. American securities were rather weaker, especially Illinois Central Railway shares. Bank shares were generally firm, with a. sustained demand. Thooe of the financial companies were steady, and London Financial continue to rise. Only a limited demand was experienced on Saturday at the Bank discount office, the dividends being payable on Monday. The general market was quiet, and amply supplied with money, but there was unwillingness amongst the dealers to take bills below 9i per cent. In the Stock Ex- change money was abundant and little wanted, and the rate for short loans on English Govern- ment securities did not exceed 6 per cent. At Paris on Saturday the Three per Cent. Rentes opened at 68.25 for the end of the month, and closed at 68.50_for money and 68.60 for the ac- count, showing a recovery of k per cent., compared with recent prices. The Bourse was described as "very agitated." Consols, which closed on Friday at 87^ to f, ex div., both for money and Tuesday's settlement, opened on Saturday morning at the same quota- tion, and after declining to 87t to f, closed at 87i to l. For the August settlement the last price was 87J to 88. The official business report is as follows:—Three per Cent. Consols, for money, 87f, -61, i; ditto, for account, 87-J, i. jh t; Three per Cents. Reduced, 86f, t; New Three per Cents., 86t. 14; Bank Stock, 247, 8; India Five per Cent., 103t, i • ditto Four per Cent. Bonds, 5s. prem. The market for bank shares was quiet, with limited transactions. Chartered Mercantile of India, London and China, and Bank of Egypt, however, were in good request, and advanced d £ 3 and Y-2 10s. respectively. London and West- minster also improved YI; Alliance and Pro- vincial Banking Corporation, 10s.; and Consoli- dated Bank, 5s. On the other hand, Hindustan, London Bank of Mexico, and Metropolitan and Provincial declined YI; and Union of Australia, 105. Alliance closed at 2 to 1 dis.; Anglo- Austrian, at 1^ to 0 £ and Imperial Ottoman, at 1 £ to 1 dis., ex div. The Consolidated Bank (Limited) have notified that the share register is now open, and also that parties entitled to new shares under transfers of shares, dated on or before the 30th of June last (but which transfers could not be registered until the books of the company reopened), may obtain the same by sending in their claim on or before Saturday, the 14th instant." The allotment of the new shares is to be made on Tuesday, the 17th instant. The foreign stock market was flatter on Mon- day than it had been for some time, but the reduc- tion in prices was not general. Italian bonds of 1861 and 1865 showed chief depression, and fell 2 and It per cent. respectively. Turkish of 1865 2 also declined 1" Peruvian of 1862, 1; Brazilian 8 Scrip, t; and Greek, t. On the other hand, 4 4 Portuguese, Peruvian of 1865, and Russian of 1850 improved 1 per cent.; Mexican of 1864, f; New Granadian "ex. all," ditto, Deferred, t; and Mexican (Old), J per cent. The monthly hide circular issued on Monday by Messrs. Culverwell, Brooks, and Co., contains the following:— Notwithstanding the high rate of discount the hide market has been steady during the past month, and in some instances slightly improved rates have been realised. The demand for export, owing to the war on the Continent, is very restricted. Hides—Salted Ox and Cow: South American have sold more freely. Australian have been in fair request at full to improved prices. Cape realised in some instances advanced prices. Horse Hides: The sales are limited to a few salted Rio Grande, average 26tlbs. at 7s. lid. per hide. East India Kips: The quantity brought for. ward has been small, and as the home trade have operated to a fair extent, full to, in some instances, ad- vanced prices were obtained at the last public sales; bnt the demand for export, owing to the war on the Continent, continues very limited. English Market Hides: The supply is small and the prices are well maintained. The Leather Market: A better tone has lately prevailed, but the dearness of money restricts transactions. North and South American Furs and Skins: The market for furs is, as usual, quiet at this period. No sales have been made of deer skins, which are inquired after. The Hudson's Bay Company have received their collection for this season from the north- west coast of America. Bear, lynx, marten, mink, wolf and raccoon are in excess of last year, but fisher otter, sea otter, deer, fox and wolverin, are less; beaver and musquash about the same. The aspect of affairs on Tuesday in the Stock Exchange was cheerful. A considerable amount of business was transacted, and although prices were a shade lower in the evening than in the morning, it was not owing to any less favourable view being adopted, but simply to the pause which usually takes place after country orders have been filled. The payment of the dividends by loosening a large sum of money imparted animation to the stock markets, as well as giving a favourable effect upon the supply of money. A good deal of busi- ness was done in discounts at 9 per cent., the rates for less choice paper being 941 and 9t. The directors of the Credit Foncier announced on Tuesday that their shareholders have all but unanimously approved of the scheme of recon- struction recently submitted to them. Out of a total of 4,546 shareholders only fifteen have dissented from the proposals, and of these some have only expressed a qualified dissent. In con- sequence of this highly satisfactory result the directors have proceeded to carry out those proposals in the scheme of reconstruction which lie with them to put into effect. Interest warrants for a sum equal to 10 per cent. per annum, from 1st April to 30th June, are to be issued, the sum of £ 400,000, which stood at the credit of reserve and oL.her accounts, is trans- ferred to the capital account, and a call of 21 per share is made payable on Saturday, 21st of July, 1866, at Messrs. Smith, Payne, and Smith's. The extraordinary general meeting to complete the resolutionsof reconstruction isfixedfor Monday, the 30th, at a place and hour to be hereafter fixed. The circular which communicates these decisions to the shareholders adds:— The directors have further the satisfaction of report- ing that, owing to the. desire expressed by many of the shareholders to pay up their shares in full as soon as the reconstruction of the company shall be carried out, the directors are able to announca their confident belief that the call of .£1 per share, announced as payable on the 1st of January, 1867, will not be required.


Money Market.

The Corn Trade.

Meat and Poultry Markets.

Fruit and Vegetables.

London Produce Market.

[No title]