The Press.
London, England, 1858-09-25 00:00:00

PRESS, SEPTEMBER 25, 1858.

that it will not encourage speculation in the real trade
of the country. It will be attended with no effect in
that respect, while the Directors will certainly seize
the earliest opportunity to return to the existing rate.
The Bank of France yesterday reduced the rate
of discount from threo and a half per cent., at which
it had stood since the 10th June, to three per oent.
This movement will probably cause the Exchanges
to turn more in our favour, the tendency of which
will be to increase our supplies of bullion.
We have received no particular amounts of bul-
lion this week except from Russia, which, for steam
machinery, and for Lancashire and Yorkshire manu-
factures, is now one of our best European customers,
and from which there have been specie remittances
during the week to the amount of about 200,000/.
The whole of this sum has been sent into the
Bank, as well as the greater part of the stock left on
hand at the close of last week. Whatever supplies
may come in next week—and large amounts arc
expeeted—they will be sent into the Bank, the stock
in which has been augmented this week by more than
300,000/. In fact, the tendency is greatly in favour of a
continuous accumulation of gold in the Bank, and the
reduction made by the Bank nf France will increase
it. Silver, however, is in more demand for the
Continent.
The dealings in Public Securities this week, and,
indeed, in securities of all descriptions, have been
characterized by extreme languor and dulness.
More than one moiety of the members of the Stock
Exchange are absent for the purposes of relaxation,
and those who remain appear to have lost that bolt
spirit of enterprize which is commonly supposed to
be a leading feature in the characteristics of the
class. At all events they are literally doing
nothing. To speculate among themselves is scarcely
a paying operation, and the public are neither
Investing nor speculating. Hence the general
quietness. Quotations, however, remain firm, and
there are more Bulls than Bears.
Consols have been at 971 to I the greater part of
the week. Few investments have been made in
them. To-day they closed officially at 97f to I, but,
after regular hours, they were quoted at 974 exactly.
Railway Shares have suffered a slight reaction in
value, but there is no material difference between the
prices of this day and this day week. Heavy shares
were to day firm, particularly those connected with
the manufacturing districts, owing to the progres-
sive increase in the merchandize traffic, but they did
not close at quite the highest prices of the day.
Atlantic 'Telegraph Shares fell at one period to
300 ; but there were transactions today at 320.
Red Sea are quoted at d to if prem. India and
Australia fto prem. The Stock of the Electric
Telegraph Company has improved to 111.
Miscellaneous, Banking, and other shares have all
been quiet, without much change
Exchequer Bills are quoted at 345. to 375. prem.
for March, and Us. to 275. prem. for June.
Great anxiety is felt for the official publication of
the treaty concluded with China.
The half-yearly dividend of the Great Western
Railway of Canada is to be at the rate of four per
cent. per annum.
The Board of Trade returns fcr the month and
eight months ending August 31st were issued
yesterday. Although there is still a considerable
decrease in the value of our exports, compared with
those of last year, there is a progressive increase in
them month by month : and there is every reason to
contemplate them with satisfaction.
The country Trade Reports, particularly from the
woollen distric's, complain of the high price of the raw
material interfering with purchases ; but these re-
presentations are only partial, and, generally speaking,
they have produced little effect upon business. In
Manchester trade is very good, though high prices
have restricted operations this week. From Btr•
minghain, Sheffield, and the iron districts in general,
the accounts continue to improve.

THE ATLANTIC TELEGRAPH Colir.isijconsulted Mr.
Varley, the electrician, as to the present state of their
cable, and that gentleman his written his report.
Mr. Varley tested the cable, and was able to discover
that the defect which prevents the transmission of
signals is so near the English coast as to be within
245 or :1110 miles of Valentia. He also has disco-
vered that the cable has not parted, the proof of
which is that the copper wire remains continuous,
and faint signals are received from Newfoundland.
Mr. Varley also speaks of " another and more dis-
tant fault," the locality of which he cannot estimate
without going to Newfoundland, but thints it not
altogether impossible that some intelligible signals
may yet be received through the cable. lle is of
opinion there was something wrong on boaid the
Agage memnon before a portion of the cable was sub-
merd.
A HANDSnME MARBLE MONUMEN,t is about to 1”.
erected by Mr- T. Gatlin, the sculetor, in All Sou s'
Church, Limgharn-plare, to the memory of Mr. W. R.
Moore, of the Bengal Civil Service, joint magistrate
and deputy collector of Mirzapoor, who was murdend