The Sun.
London, England, 1863-04-30 00:00:00

REDUCTION IN THE BANK RATE.

A further reduction in the minimum rate of dis-
count has been announced to-day, and the measure
has been productive of some surprise, although it
was evident that the tendency of affairs was strongly
in the direction of increased ease. The directors,
after a brief deliberation, announced that the quo-
tation had been lowered from 31 to 3 per cent., and
bills are now negotiable in other quarters at 26 per
cent. The movement adopted a week ago seems to
have utterly failed in assisting the directors to
obtain a larger share of the bills brought for-
ward, and as their discount operations had
continued to fall off, and their resources have
increased, they hava taken another step
in order the better to compete with the joint-stock
and private establishments. Owing, however, to
the abundance of money, and the moderate demands
for commercial purposes, it is even now by no means
certain that the authorities will experience much
accession of business by their new regulations.
The rate of interest on deposit accounts has been
reduced to 2 per cent. at the joint-stock banks; the
discount houses now offer 2 per cent. for money at
call, and 21 per cent. at seven days' notice.
Further indications of buoyancy have prevailed
to-day in the English Funds, the decline in the
rate of discount and continued purchases having
led to an additional rise of 1 per cent.; Console are
938 a for money and account. The New Threes and
the Reduced Annuities have risen to 918'—`; and
Exchequer Bills to ss. and Bs. prem. ; India Stock
have been quiet and steady; the 5 per Cents have
beendealt in at 1091 the do. Enfaced at Mi.
Continued animation and buoyancy prevail in the
Foreign Market, Mexican have risen to 351 f ;Spanish
Passive to 341 35; and the Certificates to 111 a ;
Italian to 711, ; Egyptian to 981 1 ; New Grenada
to 151 1; Peruvian to 886 89 ; Portuguese have
advanced to 481; Greek are firm at 291 g ; ditto
Coupons at 14 1 ; Turkish 6 per Cents., 1862, are
701 1; ditto Consolides, 488 49j.; and the Confe-
derate Loan, lf 21 prem. The :gents for the con-
tractors have given notice that as the Stook Ex-
change will be closed to-morrow, the instalment of
10 per cent. then due may be paid on S iturday.
In the Railway Share Market a moderate amount
of business has been trane,acted, and a further slight
advance has taken place in prices. Lancashire and
Yorkshire, Great Western, Brighton, South Western,
Midlands, and South Easterns have improved 55.,
Great Easterns, North Westerns, and North Eastern
(Berwick) 108. Bristol and Exeter have receded
10s., and Great Noe thorn (A Stock) 15s.
The Foreign and Colonial Market undertakings
have remained without material alteration.
Joint Stock Bank and Miscellaneous Shares have
generally been at enhanced values. Imperial Otto-
man Bark have improved to 21/ 221; London and
South African to 271 274; Oriental Bank to 546;
and Peninsular and Oriental Steam remain steady
at 77.

BRITISH FUNDS—ONE O'CLOCK.
Bank Stock
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities 931 3 1 3
New 3 per Cent. Annuities
India Stock
t Ditto 5 per Cent. ........ lO9l i
Ditto Enfaced Paper, 4 per Cent
Ditto 5 per Cent. .. _.. ....
Consols for Account, May 7
Exchequer Bills, £l,OOO 21 per Cent 8 pm
Ditto Small
FOREIGN FUNDS— . spm
ONE O'CLOCK.
Brazilian 5 per Cent ....... 101
Ditto 41 per Cent., 1852-58-60 ..... 94
Buenos Ayres 6 per Cent 941
'hilian 6 per Cent. lO2
Egyptian 7 pei Cent 9B 1 i
Ditto, Second Issue
Greek 5 per Cent., 1824-5, ex-Coup•ms.„ .
Ditto A ccount .
Ditto Coupons
Italian 6 per Cent. (Maremmana Railway) 761
Mexican 3 per Cent
Ditto Account 3,51 4i 5a
New Granada
Ditto Deferred 8! a
Ditto Land Warrants (Hectares)
p.:rn vi an 41 per cent.
Ditto 41 per Cent, 1862 —
Ditto Account
Portuguese 3 per Cent., 1863
Ditto 1862
Sardinian 5 per Cent.
...
Ditto Account .... 87
Spanish 3 per Cent ..........
Ditto Account
Ditto Passive
1 i /
panish Cert. of Coup not funded
Turkish 6 per Cent. 1854
Ditto 6 per Cent. 1862
70
Ditto Account
Venezuela, 3 per Cent
Ditto 6 per Cent., 1862
Dividends on the above payable in London.
Dutch 21 per Cent., Ex. 12 Guil —
Ditto 4 per Cent. Certificates
Italian, 5 per Cent., 1861, Es. 25 francs na i
consols
, M TWO O'CLOCK.
oney
i)itto Account 931 1

Liverpool Cotton Market—This Day.

Market dull.(REUTER'S TELEGRAM.)
2 171 Sales, about 4,000 bales. Import
, ; previously, 21 173.

BOLD FEAT
017--...........„,.....
vices from CireassiaTr*ClßCASSlANS.—The last ad-
Circassians. It seems thri
n 6 news of a bold feat of the
that the Grand Duke Michael lately
visited Ana a, Thenceueetzent to Fort Able, upon the
Circassian frontiers,
proceeded to visit Fort
Chebiz. Learning this intention
himeirassian cavalry
formed the daring project of carrylan
otf. They attacked
his force, and, after a very desperafe
greatest
almost. by a
Coerabat, the Russians
were discomfited. The grand duke
miracle, and succeedFd only with the
cieot d.eculty in
escaping into Fort Chebiz. The Ru.sian:
eaonfdthaelsloasat
en-
gagement a number of officers and soldiers: in
this
quantity of arms and ammunition. At the date
accounts, the Circassians had assembled in mat force at a
1/4411 dixteme from the fort