The Sun.
London, England, 1863-11-05 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWELVE O'CLOCK.
ANOTHER ALTERATION IN THE RATE OF
DISCOUNT.

1 The directors of the Bank of England have just
advanced their rate of discount 1 per cent., viz.,
from 5 to 6 per cent. This movement has not
created very much surprise, but its vast
importance has naturally had the effect of
creating much disturbai.ce in almost al: de-
partments of business. An upward movement
of 2 per cent. in the value of money in one week is
of course an unusual event, and one that must
necessarily exercise a very potent influence upon

he current of monetary, mercantile, and Stock

Exchange operations. The measure from its higoly
restrictive character may be regarded with some
satisfaction, inasmuch as it will remove much uncer-
tainty that would other wise prevail. It is always
as well in cases like this that the worst should be
known, and, unless affairs are in a more anomalous
position than present appearances indicate, the
policy adopted will probably prove instrumental in
checking the outflow of gold, in alleviating the
pressure for discounts resulting from the expectatio❑
of higher rates, and also restraining the impetuosity
of joint-stock company promoters.

The intimation that the rate of discount had been
put up to 6 per cent. caused au unusual degree of
commotion, especially on the Stock Exchange,
where affairs for a few minutes were very much ex-
cited. A quieter feeling, however, has succeeded,
and less depression is manifested in the quotations
of many of the principal securities.
There continues to be great scarcity of silver in
this market, and the quotations are consequently
very buoyant. The Mexican dollars brought by
the West India packet were sold yesternuon for
China at an advance of ss. 3d upon the
price realised by the previous sale.
Although there were no withdrawals of gold from
the Bank of Eugiand yesterday, the total quantity
sent away during the week has approached
£400,000.

The last week's (railway receipts ascertained up
to this day are in round figures as under :

1863. 1862.
Great Western £69,254 £60,527
orth- Western
South- Western
Brighton
Midland
youth-Eastern

Great Northern
Lancashire and Yorkshire 33,668 32,800
Bristol and Exeter
North Eastern
Manchester, Sheffield, and Lincoln 15,663 14,922
Great Southern and Western, Ireland B,IW 8,091
Midland and Great Western 4,470 4,303
These returns are in most instances of an un-
satisfactory character. On the Great Western
there is a decrease of £1,273; on the South
Western of £1,053; on the Brighton of £2,336;
on the South Eastern of £1,555; and on the Great
Northern of £2,852. The North Western, how-
ever, shows an increase of £4,026; the Midland
of £3,252 ; the Lancashire and Yorkshire of £B6B ;
the North Eastern of £3,849; and the Manchester,
Sheffield, and Lincoln of £741.

Two O'CLOCK,
Much confusion has prevailed in the market for

the English Funds, the effect of the general dis-
turbance having been aggravated by the settlement
of the account now in active progress. Consols are
92k L for money, and 92-ii-1 for the December set-
tlement, being 8 per cent. worse than they were
yesterday afternoon. Since Saturday last the
total fall has represented about per sent.
I❑ the ether Securities the transactions have been
moderate ; the New Threes and Reduced Annuities
are about 901 a, being much lower, and Exchequer
Bills have fallen to 7s. and ss. dis. Indian Sticks
are, in some instances, a little flatter, the 5 per
Cents. being 1088 Z.; the 4 per Cents., 1001 ; the
5 per Cents. Eufaced 1061 ; and the Bonds los. 20s,
Considerable excitement prevailed in the Foreign
Market upon the announcement of the alteration
in the Bank rate, but there is a more settled ap-
pearance at the present moment,and affairs are much
quieter. Numerous variations have occurred, but
l'urkish 6 per Cents., 1862, are now 701 71; do.,
Consolides, 481 ; Mexican, 404 ; Gieek, 288 ; ;
do., Coupons, 13 I ; Spanish Passive, 331 318 ; do.,
Certificates, 121 13; Portuguese, 494 ;
71=1 72; Egyptian, 991 1004; and the Confederate
Loan, 63 65.

In the Railway Share Market the dealings have
been very limited, and prices have in most instances
shown increased depression. Caledonian, Midland,
and North-Eastern (Berwick), have declined as.,
Great Western and Lancashire and Yorkshire, 10s.,
and Great Northern , £l.

The Foreign and Colonial undertakings have con-
[tined inactive, but show no material variation in

values.

• Bank Shares have been depressed. Imperial
Ottoman realise 171-1 Alliance of London and Liver-
pool, 44 ; London and Middlesex, 10-1 ; and
Union of London, 39.
In the Miscellaneous Market, International
Financial shares are dealt in at 91; London Finan-
cial at 151 ; and National Discount Company at

BRITISH. FUNDS—ONE O'CLOCK.
Bank Stock 236
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 3 per Cent. Annuities
Annuities, 30 yrs, expire sth Jan., 1880 —
Ditto (Red Sea Telegraph), Aug. 1908 2l
India Stock, 1874
Ditto 5 pet Cent. 1870
Ditto 4 per Cent. 1888 lOOl
Ditto Enfaced Paper, 4 per Cent ..
Ditto 6 per Cent
Ditto Bonds £l,OOO l5 20
Ditto under £1,000..
Consols for Account, Dec. 3 9l/ ex div
Exchequer Bills, £l,OOO, 2! per Cent 6 7 die
Ditto 11.500
.. 2 5 die
Ditto Small
FOREIGN FUNDS—ONE O'CLOCK.
Brazilian 5 per Cent
Ditto 4} per Cent., 1852-58-60
Egyptian 7 per Cent 99i 1001
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coupons —
Ditto Account 2Bl 7} 8 n
Ditto Coupons
Ditto Account l3l
Mexican 3 per Cent
Ditto Account
New Granada
Paruvian 3 per Cent.
Ditto 4t per Cent., 1862
Ditto Account B6
Portuguese 3 per Cent., 1853
Ditto 3 per Cent., 1856, '7, '9, '6O, 62 —
Ditto Account 491 f
Sardinian 5 per Cent • •
Ditto Account 9O
Spanish 3 per Cent --,
Ditto Passive
~ Ditto Account 34/ 31 4
Turkish 6 per Cent. 1854 —
Ditto 6 per Cent. 1862
Ditto Account 7l 701 1
Venezuela 3 per Cent.
Ditto Account —
Ditto 6 per Cent., 1862
Ditto Account .. 57
Dividends on the above payable in London.
Italian, 5 per Cent., 1861, Ex 25 fr es
Ditto Account..
• • ..........
' an
. ... 72 1I
Consols, TWO O'CLOCK.
Money
Ditto Account . .............

SHIPPING—This Day.

LONDON, Nov. s.—Wiad this day at noon—South-
Westerly; moderate breeze, and cloudy; weather much
milder.

(By ELECTRIC TELEGRAPH.)
SOUTHAMPTON, Thursday Morning.
Arrived—Teutonia, steamer, from Hamburg, and sails
for New York at 4 this afternoon. She has experienced
very heavy weather on the passage from Hamburg.
Sailed—Thomas and Mary, for Sunuerland ; Augustine,
for Cowes.

.(BY MAGIZI,EBCTuENLIZ
GnAru.)
GItAVEBEND, Thursday
Morning.
Arrived, Oct. s—Chaa bze, from Shanghai; Lady Grey,
from Alexandria; Mystery, from Bombay.
DEAL, Thursday Morning.
Anchored—The Velocity,. from London for Falkland
Islands; Partisan, from Sul ma tor orders ; Josephine, from
Shields for Naples.
Passed—The Btitifh Empire, from Callao ; the Italia,
from the West, both tor London; her Majesty's ship Gey-
ser, from the west for the river.

BARELY CREDIBLE !—(" Why can't you leave it
alone?")—It is said the Government will make another
effort next session to induce Parliament to agree to the
purchase of the International Exhibition Building for the
nation,

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