The Press.
London, England, 1854-07-08 00:00:00

Itt faVg.

Mr. Charles D. Lucas. midshipman of the Hecla, paddle.
wheel sloop, commanded by Captain William H. Hall, has
been promoted to the rank of lieutenant, with seniority
from June 21at last, for his gallant conduct in lifting a live
shell which had fallen on the deck of the Hecla, and throw-
ing it overboard, during an engagement with the Russians
in the Baltic.

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APPOINTMENTS AND PROMOTIONS.
APPOINTMENTS.
Captains—George A. Eliot to the Powerful ; George Manse!,
to the St. Vineent; Hon. Frederick William Grey promoted to
be Commodore of the Second Class, and reappointed to command
the Hannibal.
Lieutenant•Commander—William T. F. Jackson to the Jackal.
lAeutenants—William T. W. Hambly to the Leopard ; Henry
B. Phillimore to the Malacca; Thomas A. Alldridge to command
the Stag.
Masters—Henry Harper to the St. Vincent: Joseph N. King
to the Powerful; Thomas H. Fraser to the Malacca.
Master's Assistant—F. 0. Sampson to the Malacca.
Surgeons—James Brown (b) to the Illustrious; Lenox T. CUll-
ninghata to the St. Vincent.
Assistant•Surgeons—James F. Stoddart to the Spy; John L
Palmer to the Jackal : Julian W. Slight to the St. Vincent; James
Henry and Cecil Cramlell to the Impregnable.
Paymasters—William Drury to the Calcutta; William H.
Reeves to the Hogue: George Rameden to the Euryaltts.
Clerk•in•Cbarge--John Mumford to the Jackal.
Clerks—Frederick Lucas to the Hannibal ; John M. Jefferson
to the Fisgard.
Acting Clerks—W. F. Simmons to the Royal Albert; R. T.
Jones to the Ajax ; F. Parker to the Colossus.
Clerks' Assistants-0110'ton Timperley to the Edinburgh;
F. A. Keogh to the Malacca.

PROMOTIONS.
Mates—Henry B. Phillimore, late of the Excellent, and Robert
Elliot, of the Rattler, to be Lieutenants.

glontg parktt and Qtitl 3uttilignut.

FRIDAY EVENING.

THE publication of the quarterly revenue account
has been the financial event of the week, for which
all speculation lay in abeyance. In the slackness of
operations, however, the market underwent a depress-
ing infinence, and prices continued to droop. On Mon-
day the telegraphic despatch announcing the determi-
nation of the Emperor Nicholas to fight "to the last
rouble and the last man," although considered very apo-
cryphal, contributed to enhance the prevailing heavi-
ness of stocks, and prices declined from 931 to 93 in con-
sequence. Late in the day the quotations rallied to
931. Throughout Tuesday the market continued to
be languid, but without exhibiting any marked de-
cline ; and on Wednesday the sensitiveness of the
Stock Exchange was exemplified by the fact that
Consols went down 1 per cent. upon the announce-
ment that two steam-frigates belonging to Admiral
Dundes squadron had got aground at the mouth of
the Danube.

The quarterly balance-sheet which came out next
morning added a new impulse to the fall. Consols
then. settled down to 921 93 , the last official quota.•
Lion being 931 for the opening on the 19th inst.
During the morning speculators had been encouraged
by a rumour that the Bank directors at the usual
monthly meeting would lower the rate of discount on
commercial paper. The meeting in the Bank par-
lour, however, broke up without any change being
agreed upon, excepting that a resolution was passed
equalising the rates upon country discounts, which
had stood et a minimum of 52 per cent., to the

THE PRESS.

London scale. All paper is accordingly now d
counted at a uniform minimum rate of 5i per cen
When the result transpired the general gloom ini
creased; while the demand for money, incidental to
the deliveries of stock, usual on the first transfer-
day after the shutting for the dividend, furnished
another cause for depreciation. The decline during
the day amounted to full per cent, and, though this
was partially recovered, prices closed at per cent.
beneath the opening quotations.
To-day the Stock Market has ruled heavily, owing
partly to the continued unfavourable weather, and
Consols have been alternately buyers and sellers
at 93. They left off at 92i.

According to the official statement, a sum of
883,1031. is applicable this quarter to the reduction
of the national debt, being a fourth part of the sur-
plus for the year. Purchases on this account have
been generally looked to in the City upon every
quarter as a source of animation to the market. in
the present state of the revenue and expenditure,
however, the whole amount will be absorbed in meet-
ing deficiency bills.
Several commercial failures have been announced
during the week. The stoppage of one firm trading
as East India and colonial brokers was reported on
Wednesday, with liabilities said to exceed 80,000 L
Other disasters are apprehended, and much uneasi-
ness prevails among trading circles at the present
aspect of affairs.

207 9

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