The Press.
London, England, 1858-06-26 00:00:00

Moncg Malta aub Cttg ladligtuct.

FR/DIY EVENTNO.
THE return of the Bank of England for the week
ending Wednesday last, the 23rd inst., shows the
following changes compared with that for the week
preceding :
Decrease in Circulation -
Increase in Public Deposits
. _ .

Decrease in Other Depesits........ 10710%5
Increase in Government Securities.. 26,013
Decrease in Other Securities
Increase in Bullion
Increase in Lest
Increase In Reserie ...
Bullion in both Depanmerts
Circulation, including Bank Post •I,
.....

Bills
This comparison is of a favourable character, as far
as concerns the position of the Bank, and the state of Cie

621

• t
pnbhie I..islances in preparation for the approaching divi-
dends. The.- liiirrion hail-nil-eased until the total stock
once more exceeds eighteen millions, and the Reserve has
been strengthened in proportion. The Private Deposits

continue to show a falling off.
Money has been in increasing demand nearly all the
week ; and at present the inquiry in the general market

may be descriued as active. It is certainly not very
active. inasmuch (as will be seen by the foregoing com-
parison) the Bank has suffered a slight diminution in
its private securities, while Lombard•street and the Joint-
stock Banks have, by their terms, been able to attract the
miss of o rdivary discount transactions. Still, the Bank
has been doing more business, particularly on Monday and
again yesterday. Yesterday, indeed, rates outside showed

a hardening tendency, and in some cases three per cent.
were required ; but the average did not exceed two and

three quarters upon the best paper.

The improved

inquiry has not altogether arisen from the ordinary require-
ments of commerce, though they continue slowly to
expand , but from circumstances special to the period—
such as the end of the haltyear, when heavy revenue pay-

ments are made, and considerable balances required to
close transactions, and a number of railway calls amount-
ing to a large aggregate. To these circumstances must be
added the preparations making to retire the commercial
acceptances at maturity next week, which we believe to be
unusally heavy, considering the general quietness of trade.
At the same time, as the manufacturing industry of the
country is becoming more fully occupied and exports are
gradually increasing, capital is likely to be in greater
demand ; but the demand will be met with the greatest
ease, without affecting ratee, after the present exceptional
period shall have passed away, by the ahundent supplies
arising out of the various dividends that will be dispersed
in the course of the ensuing month.
The most remarkable feature in the Bullion movements
of the week, is the continued demand for the Centinent.
This demand has absorbed all the Imports, with the excep-
tion of 50,000://. in sovereigns of Australian coinage,
amounting to about 150,0001.; and it is not yet satisfied.
Less than 400,0001. are now en route from Australia, and
if this amount does not arrive in the course of a few days,
it is probable that some amounts will be taken from the
Bank. The West Indian and Mexican mail steamer
may perhaps bring s considerable sum ; but very little, if
any, will come from the United States, as the Exchanges
are less favourable than they were, while the next packet
will start from Boston, at which place specie is not so often
shipped as at New York.
The Funds have been rather more active, but there are
still great complaints in the Stock Exchange of the (Wi-
nes& of business caused by rue reluctance of the public
either to buy or sell. Some purchases, however, have
been made this week to a large ez.ent by the public, while
others have been made on account of the National Debt
Commissioners. These operations have induce' a better
tone among the speculators, so that many solo had been
selling for the fall bare reversed their accounts, and are
now dealing for the rise. The Feneral effect, therefore,
has been to impart firmness to quotations, with a tendency
to advance. Still there is something, whether in politics
or whether in trade, that utterly prevents buoyancy.
Many persons think that the inactivity of the market
arises neither from politics nor trade, but simply from the
fact that the Funds are at their maximum price, and that
so long as the Money Market remains so comparatively
quiescent, it is useless to expect any movement of im—
portance one way or the other. With some exceptions
Railway Shares have rallied from the depressions of last
week, although the traffics are indifferent, and even bad,
I all round, while injurious rumours as to the probable
dividends have been in actual circulation.
Concede, which lett, off last Fridsy at 951 to f, have been
so low as 95i, but no higher than 951. The fluctuations,
therefore, have been inconsiderable, certainly not enough
to answer the purposes of mere speculation. Between
these extremes the market has been steady, with consider-
able firmness. The investments on public account have
been in Reduced, which stock is now rather scarce. To-
day Console opened at 95f to f. owing to the unfavourable
character of the Indian news, and they closed at the same.
In the Foreign Market, little or nothing has been done.
Turkish Stocks have been firmer. But, the most remark—
able feature in the dealings of the week has been a consi-
derable fall in the scrip of the New Four•and-a
Cent Brazilian Loan. Last Friday it left off' at to dig.,
but on Wednesday it fell to l I (ha. Nothing occurred to
justify this fall except a series of sales by si.eenlativa
holders, in anticipation of the call due next week. The
I present price is I dis.

to
Railway Shares have partially recovered, but quotations
are still affeLted by the traffic receipts and by appre-
hensions of reduced dividends. Caledonians have bees
largely sold on Scotch account, and they are between two
and three per cent. lower than this day week. French
Shares maintain their value ; some have improved. Indian
are flatter: Awl the same may be add of the Canadian
hoes, on which Ilia traffics are extremedy depressed. Illi-
nois Central have bad a serious fall, Ewing to a call of
21 dela. per share, and the rresept potation is 25 to
23 dia.
The Board -of Trade Retarne torilfay were issued
yesterday. The declared value of our exports during the