28 FEBRUARY 1874, Page 3

English capitalists are beginning to understand that the rental of

London is pretty fair security for a moderate loan. Hitherto the Metropolitan Board of Works have found it a little difficult to place their loans, but it appears, from a report of the Finance Committee to the Board, held on Saturday, that on the 18th inst.. the Board asked for £2,600,000 at 3/ per cent. By four o'clock the same day, the loan having been previously advertised, £21,236,750 had been applied for, at 941. The dis- tribution made was therefore pro raid, each applicant: getting only 121 per cent. ; and the price on Friday. was '961, the bonds being, in fact, the next dearest to Consols. We trust the result will not tempt the Board into extravagance, but it is certainly not discreditable to their financial management.