The Press.
London, England, 1854-08-05 00:00:00

Si eutg glarktt aub Qtitl itttiligtitte.

FRIDAY Evatinro.
Tim reduction in the rate of interest announced by
the Bank directors at the close of their board meeting
yesterday (Thursday) is the great monetary event of
the week. It seems to have taken everybody by

surprise, and in the opinion of many well-advised
persons is, at all events, premature, if not rash. The
chief reason for adopting it is, no doubt, the obvious
one that the demand for discount had fallen off, and
the Bank was suffering from a scarcity of business,
which its managers thought it best to invite, by

reducing the terms of accommodation from 51 to 5
per cent. They have also been encouraged in their
proceeding by the existence of certain commercial
facts, such as the easier state of the Money Market
during the last fortnight, the course of the foreign
exchanges, the state of the bullion in the Bank
vaults, the probable supply and demand of the pre
cious metals, the state of the commercial interests,
the prospects of the harvest, and the character of
the weather for the last week or two. How long the

present aspect in all or any of these particulars may
continue is a matter of pure speculation, but on
their permanence the safety of the new Bank parlour
operation must depend, and the state of the weather
during the next few days may be sufficient of itself
to resolve the question.
The effect of this reduction upon Consols was to
improve the quotations by fully per cent- The
minimum rate rose from 92 to 921 for present trans
fer, and to 921 I for account. To-day this advance
has been well supported, notwithstanding the unpro-
pitious weather. At one time Consols touched 921
for money, and 921 for account ; but the closing
prices are about the same as yesterday. The Three-
and-a Quarter per Cents. left off at 93 to 1. Exche-
quer Bills have been weaker, having been done below
par. Bank Stock, 2091 to 2111.
The recorded arrivals of specie this week amount
to 320,0001.
FOREIGN.

The market in foreign securities has shown con-
siderable firmness, but without much change in
prices. In Peruvian Bonds there has been a rise to
69. Spanish Three per Cents. are steady at 381,
and the Certificates have improved to 51 per cent.
Dutch Two-and-a-Half per Cents., 60 63; Mexican
Three per Cents., 241 211; Peruvian Four-and-a-
Half per Cents., 1853, 67 69; Russian Four-and-a-
Half per Cents., 82 84 ; ditto Five per Cent. Ste -
Bonds, 97 99.

741

SHA RES.

Railway shares were dull early in the week, and
___e quotations sunk in many of the principal lines
owing to a pressure of sales. The reduction of in-
terest at the Bank, however, gave the market a con •
siderable stimulus yesterday afternoon, leading to an
advance in some instances of 20s. or 30s. per
share. _ _ _

To-day the complexion of the market has been
animated, with a noticeable improvement in the
quotations. Great Westerns close 77 to 771 ;
Brightons, 106 to 10 I ; Manchester and Sheffield,
231 231 ; North Western, 1051 ; Eastern Counties',
131 13i. The following are the closing prices of
steam companies' shares as reported to us by Mr. T.
G. Taylor, steam share-agent :—Australian
Mail, 31 31 ; Australasian Pacific Mail, 1 to 11 prem. ;
General Screw Steam, 13 to 13i ; Peninsular and
Oriental, 53 to 55; Royal Mail Steam, 52 53 ; for the
latter shares there is now much inquiry, and as they
were long at a discount of nearly 20 per cent-,
from which they have been gradually recovering, to
within 7 or 8 of the paid-up price, there is strong
reason to believe they will advance further.
The Peninsular and Oriental steam ship Ripon,
which leaves Southampton this afternoon for Alex-
andria, carries away specie to the amount of
202,055/. In this shipment the amount of gold is
unusually large, being no less than 109,7681., owing
chiefly to a consignment of 81,7401. to Alexandria.
The remaining parcels are sent as follows --To Malta,
gold, 3,1001.; to Alexandria, gold, 81,7401.; to Madras,
gold, 701.; to Penang, silver, 6121.; to Singapore,
silver, 3,8001.; and gold, 9,6301.; to Hong Kong, gold,
15,228/., and silver, 14,538/4 to Canton, silver,
03,230/4 and to Shanghae, silver, 9,507/.

BRITISH FUNDS. Closing Prices.
OFFICIAL QUOTATION.
Need. Meld. Wed. !Thaws. rridag.
——— •
3 per Cent. Consols 921 I'l2 21 292 921
Ditto for Account
8 per Cents Reduced
31 per Cents
Long Annuities
Bank Stock, 7 per Cent — 910 11 210 91 2101
India Stock, 101 per CDt 225 6 223
Exch. Bills, 21d. per diem 2 3p 3p par 4p pat 4 1p u
India Bonds, (1,000 t) 2p 2p 2p
BANK OF ENGLAND.
An Account, pursuant to the Act 7th and 9th Victoria, cap, 12
for the week aiding on Saturday, the 20th day of July, 1851.
188U11 DEPAIITMIIIIT.
Notes issued .... 126,771,780 Government Debt 111,015,100
Other Securities .. 2,994,900
Gold Coin et Bullion 12,771,790
Silver
526,771,780 /26,771,780
BANKING DZPARTIMIT.
Proprietors'Capital C 14,553,000 Government Seca-
Rest
Public Deposits,— 2,302,361 Dead Weight An.) 411,775,88 S
Other Deposits
Seven Day A other Notes 6,257,060
Bills
132,355,080 132,354,090
• Including Exchequer, Savings Banks, Commissioners of
National Debt, and Dividend Accounts.

The foregoinireturn, when compared with that of the preceding
week, ending July 22, exhibits the following changes. In the
Public Deposits
Other Deposits
Notes Issued
Do. Beset re d
Seven-day Bills
Coin and Bullion
Government Securities .. DECREASE of 36,000
Other Securities DECREASE of 209,822
The Rest INCREASE of 7,207
The amount of active circulation In Notes 220,614,720
Do. in Seven-day and other Bills 1,308,720

91,824,440
Coin and Bullion in both Departments 18,494,314

FOREIGN RAILWAYS.
d 411'4'8'13rd 4Wed3Vis 4 Th3urdi a 6Frialalitel
Anti!. & Rttrdnx. 4111"31
Beers.to Grids 34 3d 31 8d 31 3d 31 8134 311
Belgian East. J 4 1 4 1 1 4 I'4 1
Cherie. & Erque
Dijon 4 Besani; pmd — pd •Pd sraLls, -,
t):u..tatlnrthae...i....,4. 4 r 114
I 4
p 144 111 P 14 2p 11 1241)
Do. Extension.. 1 4d 6 44 4 id 44 1d 1 1 d
Qt. Indian Pen.l 1 4 4p4 ip 1p II ip
Grand J. of Fra. „ „ ~ ~
G.W.ofCan.,Sh. 18 918 9 174 84 174 8411 84
8.(2d Is.) 18711
Ce•ttPii•bPePt dix die dis die die
Luxembourg .. P
Lyons & Geneva par jp par 4p 1 4 1p Id 1p _
44 1p
Madras 41p 14 iptd 4 pl 4 4p 101 4p
Maria Antonia
1t*.1.-rtltni igoei i'wrni:e). 7811 81
.^:di 8 7121 81
324 81
3721 8
Norw. Truk.Prf. is 9 3 9 8 9 8 9p 8 9
Paris & Lyons 174 8p 174 8p 171 iI ) 171 ip 171 8
Paris & Orleans 44 741 745 745 744 47
Paris & Rouen 0 240 2 40 210 2 40 2
Paris & Strasbg. 311 *,314 111 131 1 311 4
P.,Caen & Cher. —p—p p —p—
Qbec.&ltchnuld. d d --dis di.
Rouen & Havre 221 31 221 31 22 322 3 II $
Royal Swedish di. d die d d
Sambre& Meuse 84 984 984 9 9 81 0
S. E. of France p p p —p; —.—
Sthrx. of France p p p —pm l -ss
Upper Ind.gcrip —p pm— p— pa'
Wet. Flanders.. 34 4t4 454 441 4 14 4
W.tn. of France IS bp 6 6p 5 6p 3 6p 6 Ifp
Westrn.ofSwitz. d dis -'— -s, ••••
Zealand 44 3041 31th. 44 31 die 1 3441.44 Sed