The Sun.
London, England, 1864-02-25 00:00:00

Iti ONES MARKET

AND
COMMERCIAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.

ALTERATION IN THE BANK RATE.

A reduction of 1 per cent. has just been announced
11! the minimum rate of discount of the Bank of
-r,agland. The movement was fully expected
awing to the tendency of monetary affairs for some
time past, and the improvement which is reasonably
auPPesed to have taken place in the position of the
rational establishment, The return, which will
sPPear this afternoon, will no doubt show that the
reserve of notes, the stock of bullion, and the other
securities warrant the relaxation, and the general
farther
of the market seem to justify the idea that
concessions will be speedily adopted. For
88 days past the mercantile community have been
negotiating first-class paper at 61 per cant., but the
difference between this rata and the lowest charge
at the Bank of England must have excluded
I"te latter from active competition farthe
'ills brought forward for negotiation. All the
adverse influences which were productive of the
stringent policy which carried the price of money
to 8 Per cent. have disappeared. Tne resources of
the 13ank of France have improved, gold is no longer
,required for transmission to Paris or silver in such
iar. quantities for shipment to India, the exchanges
h_ave all become favourable, and there is no pres-
Litre for discounts, and bankers and brokers have
r larger supplies than they are enabled to employ.
Prospectus has been iesued of the Imperial
Financial Company, with a capital of £2,000,000,
the half of which amount is to be first subscribed
;
Shares of £5O. The objects of this company are,
41f course, identical with similar existing companies.
The
directory is composed of gentlemen of high
standing in the commercial world.
A prospectus has also been issued of the general
International Agency Company, with a capital of
4800,000 (half to be subscribed first), in shares of
XlO, "to undertake financial credit, agency, and
ezehange operations in England and France.
c Prospectus has been issued of the Gellivara
4:°,l,Pany, with a capital of £500,000, in shares of
vv The object is to purchase an estate of 1,200,000
acresbeds
in Sweden, containing large and productive
:" of iron ore, extensive forests of pine, and a
portion of agricultural land, besides saw-mills, fur-
ores) a shipbuilding yard, &c: The development
this property, which is to be bought for £225,000,
requires a railway of about 60 miles for the trans-
Port of the iron ore to the furnaces and shipping
trt) and this (including also the construction of
Swedish
Canals) will cost £232,000, towards which the
the
Government contribute £48,000. Pending
will
construction of the railway and canals, which
11,1,4 occupy three years, the vendors of the property
B;mertake that if the receipts of the company fall
it3tt of 6 per cent. they will make up any defi-
tile4eY• About four years back a plan was enter-
tined for this undertaking, but it was brought
;Ward in a less practical shape, and the period
was less favourable than at present.
111 he prospectus of the English, Irish, and Foreign
eollling Stock Company will be found in another
to .441 n of The Sun, the object of the company being
ititroduce imported patented inventions for rail-
aY Waggons, buffer springs, and other improve-
s:Ant' (by which the cost of repairs will be greatly
and
in the construction of waggons, &s., &c.;
improved
also for building, sale, or letting on lease, such
ilapraYed waggons to the different railwtsy com-
fotlies• The idea is a good one, and the gentlemen
lersing the directory are in every way well calcu-
-I,;ed to carry the company into active operation.
°tll, lees of large contracts have already been
t„

Two O'CLOCK.
Very little business is reported in the discount
Market,ciThe discount firms have reduced the interest they
per on deposits to 4L- per cent. on call, and to 5
coetit.at seven days' notice.
Not the
slightest variation has taken place in the
Market for Consols, which remain at the closing
tations of yesterday, viz., 91 I for money, and
914 g for the account. Had it not been for the
going of the rate of discount some heaviness
have been experienced, as there is an unfa-
fhttrable feeling relative to politics. The New
h tees and Reduced Annuities are 91'1„ ;
jbed(Per Bills have risen to 3s. die. to par.; and
;145 per Cents. are 104} 4.
o the Foreign Stock Market there has been
Tfry little alteration, and business is less active.
ll:161h 6 per Cents., 1862, are 691 ; do. Conon-
d: 0' ; Greek, 221 ; Spanish Passive, 34k ;
the. -ertiacates, 131-, 14; Portuguese, 47i 481-; and
,donfederate Loan, 51 52.
bjLeSS activity has prevailed in the Railway Share
Ita4.:ket to-day, and prices have generally given
114* Lancashire and Yorkshire and Midland
E
itt p
'lie declined 10s., North Western 55., South
ern 16a., and Metroolitan £2.
tl
to e lioreigri and Colonial undertakings exhibit
troaterial alteration as regards values.
fai,4llk and Miscellaneous Shares continue in
deo.i equest. London and Brazilian have
inanyned t° 581 ; Hindustan, China, and Japan have
are roped
„to 30i ; National Shipping Company
Ottograu°teu 1-, prem.; Mauritius Credit, -I prem.;
11E1,4.4° Financial, par prem.; South Eastern
tercaltlig. C°l33Pany, I 11 prem. ; and General In-
At tt(i:nal Agency, to 1 prem.
tc'ria (Loe half*Yearly meeting, today, of the Vic-
ado?,
DrqlOged 4d;:) Dock Company, an amendment was
and a • i'utoing the meeting for one month,
Selling
PPoniftin
visability a committee to report upon the ad-
Itooththe property. During the six
surin:ATiding December last 1,137 ships, mea-
-104 ND
SUOWino "u 2 tons, entered the Victoria Docks,
as coon ° it decrease of 124 ships, and 110,446 tons,
ffillin;Pared with the same period in 1862. This
lierS off is a2counted for in the decrease in col-
tialorrating to 177 ships, measuring 106,048

GBRITISH FUNDS--CLOSING PRICES.
ol.„.
s .. Fer '.rtli3IENT FUNDS.
0
a p0e1ti.,..41-etlt. Consols
A.ccount, March 5 9l i i
N,,,;
~uent. Reduced
Dirt' Per Cent 914 1 I 1
bo 5
, Per Cent., Jan. 1873 lO5/
itto
. Jted Sea TeleoTaph), Aug. 1908. 201.
-,quer Bills, £l,oo'o, 21 & 3 per Cent. 3 die par
$4 elk England
5 die
£lOO and L2OO
lINT- England Stk, 41 per Ct., last hf.-yr 239
Itie Inix GOVERNMENT SECURITIES.
la Stock, 10i per Cent., April 1874 213
DOtOO Account
itto 5 per Cent. July, 1570
, ,K)
1)14 Enlaced Paper, 4 per Cent .. 911
b., 0 5 per Cent., Jan. 1872 .. 1041
bl't° 63/4 Per Cent., 4
Ma, 1879........110 14
itto ,
..ebentures, per Ct., April 1861
Ditto Ditto ditto Aug., 1866 9311
Bond s El,ooe p ir
under £l,000
ttamp POREIGN FUNDS—CLOSING PRICES.
bit'lla 6 per Cent
b.t 0, 1539 and 1859 IOOI
Ditto,
per Cent., 1852-58-60
~0, 186387 b 4
Oh Ittn Scrip, 1863, £55 paid
11, r,
IV". o 6 per Cent —
4.,,,t.? 41 pm Cent B3
br"an. 7 per Cent lO3
(11, I'o Second Issue
111' 6 Per Cent., 1821-5, ex-Coupons.. 7
L• t 0 Account
,".Itto Coupous
kelizlto ACCOunt lO
bilte,art 3 per Cent
110,.; Account
140,-,"811 Imperial 5 per Cent
etuese 3 per Cent., 1853
bl.tto Account
I,!tto 3 ner ,-,ei.
k, c 1856, '7, '9, 'GO, 62,'3 —ll"ilitt..° Account " 4B
1)!Bien 5 per Cent., 1822,:£ St —
t Illttic'o 43/4 per Cent 1350 . 574
pa
„; u per Cent, 1862 B9
;iit'th. 3 per Cent
F. to Account 52 a 4
ijiltttto New Deferred ..
i.),,0 Account• 451
1)',110 Passive
13,,,11.1,, Account 34 1 i
1),42h Cert. of Coup not funded
tlirikr, A-o,2ount
I). "- G per Cent. 1854
°l,ltt Account
''ltton
mt.. ,-, per Cent. 1358 . ..
Itli.tio° Account67l 704
I 3 erC en t . 1862
Vev,itt° Account
...e7
b. Aiela 3 per Cont.
blftt 6 Per Cent 1852
--
Ditto Account " 69
1)11, ~ Dividends on the above payable in Lond ,n,
-" 21 per Cent., Ex. 12 Gu11.
l'''c`la THREE O'CLOCK.
eels money
1110 Account .. wows 911 4