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.

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 disturbance 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

the current of monetary, mercantile, and Stock
Exchange operations. The measure from its highly
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 expectation
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 an 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 yesternoon 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 Eogiand 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 £59,254 £60,527
forth-Western
South- Western
Brighton
Midland
south-Eastern
Great Northern
Lancashire and Yorkshire....
Bristol and Exeter .. 6,233 6,191
North Eastern 56, ,3 52,544
Manchester, Sheffield, and Lincoln 15,663 14,922
Great Southern and Western, Ireland B,llO 8,091
Midland and Great Western
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. Tne 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
92f for money, and 92! a for the December set-
tlement, beings per cent. worse than they were
yesterday afternoon. Since Saturday last the
total fall has represented about per sent.
In the ether Securities the transactions have been
moderate ; the New Threes and Reduced Annuities
are about 901 1, 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 1081 ; the 4 per Cents., 104 ; the
5 per Cents. Enfaced 1064 ; and the Bonds 15s. 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
Turkish 6 per Cents., 1862, are now 704 71; do.,
Consolides, 48; ; Mexican, 01 ; Greek, 288 e ;
do., Coupons, 13 I ; Spanish Passive, 33Z 348 ; do.,
Certificates, 121 13; Portuguese, 491 ; Italian,
711 72; Egyptian, 994 100-k ; 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 55.,
Great Western and Lancashire and Yorkshire, 10s.,
and Great Northern , £l.

The Foreign and Colonial undertakings have con-
tinued inactive, but show no material variation in
values.

Bank Shares have been depressed. Imperial
Ottoman realise 17/ ; Alliance of London and
pool, 441 4 ; London and Middlesex, 101 ; and
Union of London, 391.
In the Miscellaneous Market, International
Financial shares are dealt in at 9-1 ; London Finan-
cial at 151; and National Discount Company at
91-

BRITISH FUNDS—CLOSING PRICES.
Clank Stock 236
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities 921 2 i
New 3 per Cent. Annuities
annuities, 30 yrs, expire iith Jan., 1880 —
Ditto (Red Sea Telegraph), Aug. 1908. 21
India Stock, 1874
Ditto 5 pet Cent. 1870 .. lOBl 1
Ditto 4 per Cent. 1888 lOO3
Ditto Enlaced Paper, 4 per Cent ..
Ditto 5 per Cent ............
Ditto 51 per Cent ......
Ditto Bonds £l.OOO l5 20
Ditto under £l,OOO . .
Consols for Account, Dec. 3.. 9l j ex div
Exchequer Bills, £l,OOO, 21 per Cent 5 7 die
.Ditto £500
Ditto Small
FOREIGN FUNDS—CLOSING PRICES.

Brazilian 5 per Cent
Ditto 4} per Cent., 1852-58-60
Equador New Consolidated, 1 per Cent l4i
Egyptian 7 per Cent.. 99i not 99/
Ditto, Second Issue
Greek b per Cent., 1824-5, ex-Coupons
Ditto Account
Ditto Coupons
Ditto Account . . 131
Mexican 3 per Cent ....
Ditto Account
New Granada
Peruvian 3 per Cent.
Ditto 4f per Cent., 1862 ..
Ditto Account
Portuguese 3 per Cent., 1853
Ditto 3 per Cent., 1856, '7, '9, '6O, 62 —
Ditto Account 49/ 1 i
Russian 5 per Cent., 1822, £ St 93
Spanishrappr
kii
Dittotti
stt
Ditto
6A66c
pc cpepereerotrr.ucc
:once
eftnentn:
Ditto 41 per Cent 1850 •
Ditto 5 per Cent., 1862 B9-1. 1 I
Ditto Account 544
Sardinian 5 per Cent ....
Ditto Account 9O
Spanish 3 per Cent
Ditto Account 54
Ditto Passive
_341 31 4
Ditto Account
Ditto 6 per Cent. 1858
Ditto Account
Al a
Account
opueur t Cont.
t.. . . . . . . . . . . . . .
57
69 1
Ditto Account 7l 701 1
VDeniettzoue —
Ditto Account .
Italian, 5 per Cent.,
Dividends on the above
Ditto Account lB6l,
'
.
_L:2o:dion.
THREE O'CLOCK.
Consols Money
Ditto . .............
Cent. 1854
u :1.88p:6:n2240 t funded

SHIPPING—This Day.

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

(YE 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 Sunderland; Augustine,
for Cowes.

GTRhAuPrialday Morn in g.
(BY 3IA GNETI C
GRAVESEND,TELE
Arrived, Oct. s—Chan Eze, from Shanghai; Lady Grey,
from Alexandria; Mystery, from Bombay.
DEAL, Thursday Morning.
Anchored—The Velocity, from London for Falkland
Islands ; Partisan, from Sul intl. for orders; Josephine, from
Shields for Naples.

1114.

6.4.0

L 0.16.4

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