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LONDON STOCK EXCHANGE.

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LONDON STOCK EXCHANGE. LONDON, Friday. The Money Market has been very quiet, with a superabundance of capital offering, for which there is considerable difficulty in finding employment. Loans were not wanted. Day-to-day advances are Y4 per cent., and short fixtures per cent. Dis- count business was quiet, with a moderate number of bills offering. Three and four months' Bank bills have been negotiated at and six months per cent. Trade bills Three months were 1 four months, 2}4 six months, 1% per cent. Paris Cheque Exchange is 25-15. Stock Exchange business to-day has been very quiet, and as a rule changes were slight. Home Railways were dull in the morning on the North-Eastern dividend, but they rallied later, and closed with more steadiness on the Midland declaration. American Railways were unsettled and irregular. Foreign Bonds very quiet. Consols closed at 113% to 113% for delivery, and 113,7g to 113A for account. In Foreign Bonds little or nothing has been doing, and only trifling changes occurred. Internationals were weak. Italian closed unaltered. Spanish fell. Egyptian and Turks rather easier at times. Hungarian!, Russian, and Greeks all quiet. South American issues quiet. Argentines steady. Buenos Ayres Gold Premium has fallen to 184%. Home Railways were a dull market. The disappointing North-Eastern dividend had a bad effect upon heavy lines at first. North- Eastern declined 1, but, on the favourable declaration by the Midland, the tone was altered, The company pay at the rate of 5 percent., and carry forward 918,000, against 4 per cent., with Y,13,000 forward last year. This was considered very satisfactory. The Stock rose 1. Great Western was lower, and North-Western closed higher. Hull and Barnsley and Sheffield were quiet. Scotch lines were quiet. Caledonian Deferred fell and North British Great Eastern down. Underground lines neglected. Southern Stocks weak. Brighton A closed at 185, and South-Eastern A fell to 102. In the American Railway Market business has again become very quiet. Prices have moved irregularly, but changes have been slight. The finish was flat. Atchison fell t4; do. Preference, Milwaukees, Denver Preference, Louisville, 1% Erie, Ontario, Union Parities, Canadian Railways were a neglected market. Canadian Pacific Shares were unaltered, at 61. Grand Trunk First Pre- ference and Guaranteed fell traffic shows an increase of E656, Foreign Railways were a very dull market, and were without feature, Mexican were rather firmer. South American Railways were inactive and featureless, but rather weak. The Nitrate Market remains in the same dull condition, business being limited, and scarcely any change occurring. Miscellaneous Securities.—Imperial Otto- man Bank fell fa, to 12%. South Metropolitan Gas Stocks rose 2 to 5. Allsopps Breweries rose 2 and Guinness fell 20. Spiers and Ponds lower, at 23% xd. Wailes and Co. fell to 13% xd. General Hydraulic Power rose 5, to 245. Trusts were quiet. The following changes occurred since yesterday Foreign Bonds. -Rise-Brazilian, 1889, 14 Chinese Gold, Cordova, 1 Egyp- tian Daira, Italian, 1862, 2 Uruguay, Fall—Brazilian Western of Minas Railway, Ecuador, 1 French 3 per Cent., Greeks, 1881 and Monopoly, Peruvian Corporation Ordinary, Portuguese, Russian, Spanish, Turkish Groups 3 and 4, British Railways. Rise Caledonian Preference, Y4 Highland, 1 North- Western, South-Western Preference, 1 Midland, 5% Caledonian Ordinary, do. Deferred, East London, Great Eastern, 34 Great Northern De- ferred, Great Western, Hull and Barnsley, Chatham Ordinary, 34 South Western Deferred, 1% North British Ordinary, North-Eastern, 1 South-Eastern A, Canadian Railways. Fall Grand Trunk First Preference and Guaranteed, y4. Foreign Hallways.—Fall—Buenos Ayres Western Ordinary, Preference, and Deferred Shares, J4- American Railways.Fall Atchison Shares, do. Preference, Milwaukee, do. Preference, 1 Denver Shares, do. Preference, Louisville, Missouri, New York Central, Erie Shares, 34 Ontario, Norfolk Preference, Northern Pacific Pre- ference, 34 Southern Ordinary, Ys do. Preference, 34 Union Pacific, Wabash Preference and Debentures, The Mining Market has been ex- tremely quiet and without special feature. South Africans dull, but West Australians- steady. In South Africans movements were very slight. Chartereds were weak, with buyers at 3, and Goldfields Deferred were lower, at 12% buyers. Rhodesia Ex- ploring fell 34♦ to 5 34, and Anglo-French Explorations were weak. Diamonds were dull. De Beers fell and Jagersfontein fa. Barnato Group weak. Banks fell A, and Mines 3-32. No particular change occurred in Gold Mines. Simmer and Jack were better. Bonanza and Durban Roodepoort were steady. Rand Mines were Ys lower, at 7%, and many others declined fa to In the West Australian Market business has been very quiet. Lake Views were again the feature, and they closed very strong at 11%. Great Boulder were slightly lower at 7. Globe and P.xploring and Finance advanced > and Midland Consols fa. Boulder Mainreef were at one time 134, on some selling, but they closed strong buyers ac 1 9-32 bid. Other movements nominal. Associated fell fa and W. A. Joint Stock, W. A. Goldfields, White Feather, and Colonial Goldfields were all about the same. Indian Gold Shares quiet and featureless Balla- ghat fell 3d. and Nundydroog A, whilst Mysore Reefs rose 6d. Copper Shares inactive Rio Tinto and Anaconda fell n. Amongst Miscellaneous Shares Hyderabad Deccam rose and Hauraki Shares were 6d better on the monthly crushing. The following changes took place in South African Mines :—Rise—Bonanza, fa Dur- ban Roodepoort, fa Simmer and Jack, 2 De Beers Debentures, Fall- Bantjes, Buffelsdoorn Estate, fa Central Roodepoort Deep, ig Crown Reef, Driefontein Consolidated, h East Rand, Geldenhuis Kstates, fi; Goldfields Deep, Henry Nourse, Knights, is Luipaards Vlei Estate, Mainreef, fa Nourse Deep, Paarl Central, h Randfontem, 3-32 Rand Mines, Robinson, Ys Robinson Deep, Van Ryn, Ys; Vogelstruis Estate, Ys Wemmer, h Wolhuter, Chartereds. 1-32 Consolidated Goldfields Deferred, Potchefstroom, 3-32; Rhodesia Exploring, United Rhodesia, A; De Beers, 34 Jagersfontein, & Barnato Bank, n do. Consolidated Mines, 3-32 Goldfields of Lydenburg, No bullion operations were reported at the Bank. Silver quiet-Bars fell to 31 d. Eastern Exchanges quiet. Bombay and Calcutta Transfers, Is 27-32d. Rupee Paper, 64%. The well-known and old-established busi- ness of Thorpe Bros. and Co., wholesale and retail drapers, Bradford, is about to be converted into a Limited Liability Company, and we are informed the prospectus will be issued next week. The whole of the Ordi- nary Shares will be taken by the firm only the Debentures and Preference Shares being offered for public subscription the former will carry interest at the rate of 4 per cent. per annum, and the latter will have a cumulative preferential dividend of 6 per cent. The entire issue will be fully secured upon the handsome freehold buildings, fixtures, stock and plant, entirely exclusive of goodwill, and the issue is likely to be well over subscribed. The Brockie-Pell Arc Lamp, Limited, has been formed with a capital of £ 80,000, divided into 80,000 shares of £1 each, of which 50,000 are offered for subscription. The company has been formed to acquire Messrs Brockie and Pell's inventions for the construction of electric arc lamps as embodied in the various patents and patent rights, and all future improvements on such patents, and the right to any and every improvement, alteration, modification and new inveution that Messrs Brockie and Pell may make or acquire, bearing upon or in any way connected with the lamps or their substitutes or equivalents, for the United Kingdom, Colonies (Canada excepted), the Continent of Europe, toreign countries (the United States of America excepted), India and Dependencies. The I company will acquire the goodwill attaching to such patents, and the business connected therewith, and they will work and develop the I said business in connection with the several patents and patent rights and otherwise. Since the completion of the prospectus a large order has been given by the Haminer- smith vestry for the lighting of a portion of their districts with these lamps. The lamp has also been specified by the Shoreditch vestry for a like purpose. A large number has been ordered for the lighting of the streets of Durban (Natal). The list will open on Monday, the 27th inst., at 10 a.m., and close for London at or before 4 p.m. on Tuesday, the 28tli inst., and for the country and elsewhere at noon on Wednesday, the 29th inst. Great Boulder Junction Reefs —In refer- ence to this company, which is now being advertised, the A ustralian Times has the following important information :—" The leases owned by the Great Boulder Junction Reefs and the Boulder Consols Gold Mines —about to be amalgamated into one com- pany-are regarded in the Coolgardie fields as being amongst the most promising in the Hannan's district. Very large lode forma- tions have been struck, and there is I every indication, according to the opinion of several of the most experienced and reliable experts in the colony, of the presence of the goldbearing parallel reefs that run with the I true course of the Great Boulder lode. As an abundant supply of water is available, j and there are no exceptional difficulties to economical mining operations, there can be I little doubt but that the company will j quickly reach the level of prosperity attained quickly reach the level of prosperity attained by the celebrated Great Boulder Company." 3289

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