The Sun.
London, England, 1862-07-10 00:00:00

MONEY MARKET.

CITY NEWS-YESTERDAY.

An instalment of 15 per cent. falls due on the
Egyptian Lean to-morrow, and 10 per cent. on the
Russian Loan, less, iu each instance, the sums paid
in full.

The amount of gold bought by the Bank to-day
was £BO,OOO, making an aggregate of £761,000 for
the week.

The mail steamer Oneida has taken £12,230 in
gold for Brazil.

The Liverpool cotton market has become quieter.
The sales to-day were limited to 8,000 bales. Long
staple and American cotton was firm, but Surat was
heavy, and in some instances lower.
An extraordinary meeting of the National Dis-
count Company is called for the 23d instant, when
a dividend is to be declared.
An extraordinary meeting of the London and
Provincial Marine Insurance Company is convened
for the 16th inst., to confirm the resolutions passed
at the meeting on the 26th ult.
Vice-Chancellor Sir J. Stuart intends on the 22d
inst. to make a call of 108. per share on the contri-
butories in class 1 of the " London and Birmingham
Extension, and Northampton, Daventry, Leaming-
ton, and Warwick Railway Company.
Assuming that the rumour is correct that the
fresh issue of Egyptian Government stock will be
equal to 50 per cent., and be assigned at par to the
existing bondholders, with dividend accruing as
from the Ist September next, it is worthy of remark
that the existing stock, at 7 per cent. premium, is
really not much above par, the 50 per cent. of new
stock being worth about £3 108., and the first divi-
dend of £3 10s. becoming due on the existing bonds
on the Ist September. It will be safer, however,
not to regard any of the proposed arrangements as
absolutely certain until they are officially notified.
The rise to-day was promoted by purchases to close
speculative operations for the fall, but the principal
investments effected latterly appear to have been on
German account.

CITY NEWS---THIS DAY.

CITY, TWELVE O'CLOCK.

Owing to the impression that the Bank directors
at their meeting this afternoon may reduce their
minimum rate of discount, business in the general
money market is temporarily suspended. The ex-
pectation of a decline is strengthened by a further
arrival of £450,000 in gold from New York.
The Etna, from New York, has brought £450,000,
and the Macgregor Laird, from the West Coast of
Africa, £10,500 in specie.

The first ordinary meeting of the Telegraph to
India Company will take place on the 25th inst.
It has been notified by the Spanish Financial
Commission that the auction of the Foreign Re-
deemable Debt will take place at Madrid on the
29th inst., and 6,261,472 reales have been assigned
by the Government for that purpose.
The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1862. 1861.
Great Western . £64,802 £55,793
North-Western 102,380 89,676
South-Western
Brighton
Midland 40,870 37,817
South-Eastern
Great Northern
Lancashire and Yorkshire 33,822 38,534
Bristol and Exeter
Eastern Counties
North-Eastern
Edinburgh and Glasgow
Great Western of Canada 8,853 6,773
These returns are generally of a satisfactory
character. On the Great Western there is an in-
crease of £9,009; on the North Western of
£12,704; on the South Western of £10,026; on
the Brighton of £2,888 ; on the Midland of £3,053;
on the South Eastern of £2,011 ; on the Great
Northern of £1,470, and on the Eastern Counties
of £2,890; the Lancashire and Yorkshire, however,
shows a decrease of £4,712, and the North Eastern
of £2,237.

Two O'CLOCK.
ALTERATION IN THE RATE OF DISCOUNT.
The directors of the Bank of England have just
announced a modification of their discount regula-

tions, by reducing the minimum from 3 to 21 per
cent. Very, little surprise has been produced by
this; important movomonf, tho condition of
the market and the general prospect of affairs had
prepared the public for the change. The balance
sheet which will be published this evening is ex-
pected to show a large increase of bullion and a
considerable falling off in the loan and discount
operations. The measure seems to meet with gene-
ral approbation, as the continuance of the minimum
at 3 per cent. when discounts were obtainable else-
where at 21 per cent., was incompatible with the
interests of the proprietary and inconsistent with
the actual situation of monetary affairs.
The English Stock Market to-day opened rather
heavily, and a decline of 1 per cent. ensued, Consols '
having touched 911 92, and 92 921 for the account;
they are now, however, rather firmer owing to the
reduction in the Bank rate of discount, the latest
quotation being 92 921, and 921 4 respectively.
The New Threes are flat at 91-1 921 ; the Reduced
at 911 921 ; Exchequer Bills remain at 15s. to 18s.
prem. ; India Stock has improved to 226 ; and the
Five per Cent. Loan has fluctuated from 1081 to
107, the latest price being 1071 .1.
In the Foreign department Mexican Stock has
been adversely influenced by advices from the Re-
public via New York, and the price has receded to
281. Russian 5 per Cents. have declined to 95;
ditto New Loan Scrip is firm ate dis.; Spanish
Certificates remain at 91 17; Turkish 6 per Cents.
are 841 85; ditto, 1858, 711; and the Scrip is 1* 1
prem. ; Egyptian Scrip is 61 7 prem.
Business in the Railway Share Market has con-
tinued moderately active, and, owing to a few
speculative sales, prices have in some instances
shown less firmness. Caledonians, Eastern Coun-
ties, Great Westerns, Lancashire and Yorkshire,
North-Westerns, Midlands, and North-Eastern
(Berwick) have declined 55.; North-Eastern (York),
10s. ; and North British, £l. Great Northerns
and South-Westerns, however, have improved 55.;
and London and Brighton, 10s.

The Foreign and Colonial undertakings have con-
tinued inactive, without any material change in
values. Great Luxembourg realise 141; Dutch-
Rhenisb, 171; Cape Town and Dock, 1073-,; Great
Indian Peninsula, lull ; Bombay and Baroda,
100! t,

Joint-Stock Bank and Miscellaneous Shares are
in some instances a shade flatter.