The Press.
London, England, 1856-07-12 00:00:00

THE PRESS.

change ; but one or two may be pointed out to account in
some degree for the sensitiveness manifested during the
week. The first influence which adversely affected prices
was the statement published by a contemporary, to which
we referred last Friday, rather hastily assuming that we
were upon the eve of a speculative mania. The depression
produced by the gratuitous assumptions thus put forth
was subsequently assisted by rumours to the effect that
vast amounts of gold were being abstracted from this
country to be sent to the Continent for the double purpose
of maintaining the metallic reserve of the Bank of France
and of paying for the large mass of silver recently bought
in Holland and elsewhere to supply the demand from India
and China. To these causes must be added the settle-
ments of one of the hugest accounts that has had to be
effected in Consols for some years, with the approach of
that in Railway Securities next week, which undoubtedly
have caused stock to be rather pressed upon the market.
Notwithstanding the influences thus brought into active
operation, prices have been comparatively steady ; and the
present heaviness will rapidly disappear the moment that
our position is better defined with regard to the actual
causes and extent of the continental demand for gold, and
oar prospective supplies, which must be considerable, can
be more accurately estimated.
The July dividends are now in course of payment.
The specie imports during the week have amounted to
about 500,0001., exclusive of an arrival of sovereigns from
the East to the extent, it is said, of 300,0001. The ex-
ports are estimated at fully 400,0001., but the data for cal-
culating them is imperfect, and they may be less; it is
hardly probable they can be more.
The Bank Directors, at their weekly meeting yesterday,
continued the minimum rate of discount at four and a
half per cent. The maintenance of this rate has altogether
suspended their discount basiness ; but advances continue
to be made, though to a limited extent, on securities. it
is believed that no reduction will now be made until after
the payment of the next instalment upon the new loan,
and the return published this evening is calculated to
confirm this impression. The amount is twenty per cent.,
or 1,000,0001., and it is payable on Thursday week, the
24th inst.

Business has been languid in Consols, the dealers
having been engaged the greater part of the week with the

arrangements connected with the settlement. The new
account is fixed for the 7th of August, the highest quota-
tion for which has been 963, but last night it closed at 96
exactly, and at 953 to 3 for money. To•day business has
been dull and the market heavy; but prices were steadily
maintained, closing at 951 to 3 for money, and 953 to
for the account.

Foreign Securities have been dull. The principal trans-
actions have taken place in Turkish Six per Cents., and
they are two per cent. lower than last Friday, owing to
rumours of the Ottoman Government contemplating a new
loan. Nothing has transpired to confirm or to deny these
rumours; but it is highly improbable they are well founded,
although a loan may possibly be in contemplation before
the end of the year.
Railway Shares have declined since our last from the
same auses that have depressed Consols, and from an
absence of buying orders to support them, notwithstanding
a tolerably general opinion that they have not yet reached
their maximum in relation to their perspective dividends
and the future value of money. The decline has princi-
pally been confined to some of the heavy stocks, and it is
attributed, for the most part, to speculative sales, based
upon the adverse rumours respecting the demand for gold.
The traffics are all favorable, and the earnings will, in most
cases, justify higher dividends than in the corresponding
half-year of 1855. To day the markets closed weaker, and
with a not very favorable aspect.
The premium upon Exchequer Bills has fallen ".1s since
our last.

Joint•stock Bank Shares have been in moderately good
demand daring the week. Ottomans have been chiefly in
request, and they are higher.
Miscellaneous and Mining Shares have met with but
little inquiry.
The North of Europe Steamship Company have declared
a dividend at the rate of eight per cent. per annum.
The Colonial Bank have declared a dividend at the rate
of five per cent. per annum.
The banking-house of Messrs. Alliez, Grand, and Co.,
of Paris. has stopped payment.
The dividend of the Bank of London for the half•year is
at the rate of five per cent. per annum.

BRITISH FUNDS.— Closing Prices.
OFFICIAL QUOTATIONS.
Mond. Mead. Wed. 'Thurs. Friday.
3 per Cent.Consols
r5l i
97.--1
II9"
.1951 i
Ditto for Account
3 per Cents Reduced
3 per Cents 1961 7 ief 71961 71 97 6fl 94 1
Long Annuities
Bank Stock, 7 per Cent 2lBl 2181 2181 12181 1217 81
Omnium — I I
Exch. Bills, 21d.
India Bonds, 1,0001.) — 22 pl 9 22 29 pi 20 3

FOREIGN FUNDS.

Per Cent.
Brazilian
Danish 5
Dtch. (F.z 12 4tnl )211
French 3
Do. 4e
_

Mond. Mead. Wed. Mini.
I 109 e —1109 i
SS 66 L - - 1
L, Ele 71:40

!St 25e 651
id

-
Do. Bank Stock
Mexican 3
Peruvian 46
Portuguese 4
Russian 6
Spanish 3
Turkish &cc 6

L 94; 694: ej
LI Li LI
81# 2i
1 49
113 -- 1121
46it -- I 46i 6,
104 1041 1104 311

- -
46 f
103 4j

103} 3