The Sun.
London, England, 1862-07-25 00:00:00

OBEY MARKET.

CITY NE W S-YESTERDAY.

It is ten years since the Bank of England rate
of discount was at the low point now witnessed.
On the 22d of April, 1852, a step exactly similar to
the present was taken, the rate being lowered from
21 to 2 per cont. The Bink's resources were then
much larger than they are now, the coin and bul-
lion being then £19,591,784 (now £18,060,617),
the reserve of notes £11,526,200 (now £9,652,160),
and the " other" securities only £11,225,844 (now
£19,581,822). At 2 per cent. the rate remained
for nearly nine months, viz., until the 6th of Jan.
1853, when an advance to 21 occurred. At this
latter date the " other" securities had risen to
£15,875,756, and the reserve of notes had sunk to
£10,960.495, but the coin and bullion, being
£20,527,662, were more than on the previous 22d
of May, when, as already stated, a descent from 21
to 2 per cent. had taken place.
The reduction in the Bank of England rate has
not yet led to any increase in the applications for
discount at that establishment. The business there
to-day was very limited. In Lombard-street the
rate for good bills was only 11- per cent., and in
other quarters transactions ai:e said to have taken
place as low as 1.2-.

In consequence of the alteration at the Bank, the
joint-stock banks have reduced the rate allowed for
deposits from 11 to 1 per cent. The discount esta-
blishments will henceforward give 1 per cent. (in-
stead of 11) " at call," arid 11 (instead of 1f) " at
notice."

At Paris torday the Three per Cent. Rentes
opened at 68.42, and closed at 68.60 for money
and 68.45 for the account, being sc. better than
yesterday.

A general meeting of shareholders in the Bank
of Egypt is called for the 6th of August.

The half-yearly meeting of the Blackwall Rail-
way Company is convened for the 12th of August.
A general meeting of the City of London Brewery
Company is called for the 7th of August to declare
a half-yearly dividend.

An instalment of 10 per cent. fell due to-day on
the Italian Five per Cent. Maremmana Railway
Loan for £1,338,000 sterling. The final instalment
of 9 per cent. is payable on the 27th of August.
The Ottoman Bank have received ad.vices from
Constantinople that a further sum t 'Taal to about
£16,000 in various descriptions of Turkish cur-
rency has been paid into their branch at that capital
from the proceeds of the customs duties, hypothe-
cated to the 1858 Loan, on account of the ap-
proaching September dividend.
The gold taken to the Bank to-day was £30,000.

The influx of specie from New York continues on
an extraordinary scale. The arrival was announced
this afternoon of the City of Baltimore with no less
than £450,000.

The Liverpool Cotton Market to-day was very
quiet. The transactions were limited to 3,500
bales.

CITY NEWS---THIS DAY.

CITY, TWELVE O'CLOCK.

The Bank of England return completed to the
23d instant, as generally anticipated, exhibits some
very favourable changes. The bullion shows a
rather large addition, while there is a considerable
augmentation in the reserve of notes. A further
falling off is apparent in the other securities. The
public and private deposits show no alteration of
importance. The various items of the balance sheet,
and the charges they present, are exhibited in the
subjoined table :

Active Circulation, .. . .. .. £22,203,055
Decrease .. .. .. .. 155,335
Bullion ..
.• .. .. .. 18,060,617
Increase .. .. .. .. :388,727
.heat. 3,255,479
Increase . 13,650
• •. .• ••
_Public Deposits .. .. • .. 5,291,213
Increase .. ..
.• •• 67,833
0 ther Deposits.. .. .. .. 17,202,923
Increase .. •. • • • • 139,293
Set/ en Day and other Bills .. .. 739,448
Increase .. •• •• •• 12,429
Govev.nment Securities .. .. 10,952,679
No alteration.
Other Elecurities .. .. .. 19,531,822
Decrease .. •• •• •• 310,857
Notes trnemployed .. .. .. 9,952,160
Increase . 652,105

During th e last few days there has been a mode-
rate amount of business transacted in the Foreign
and Colonial Produce Markets, without, however,
producing any material change in the value of the
principal staples. Tea has been at full rates ; sugars
have slightly advanced, while good and fine descrip-
tions of coffee have been inquired for, at a slight
advance on former prices. _Rice, fruit, and spices
have remained at about previous quotations. The
Tallow Market has been more active, and opera-
tions for both present and forward delivery have
been negotiated to some extent at enhanced quota-
tions. P.Y.C. on the spot is marked 49s 3d to 49s 6d,
and last three months' delivery 50s 6d to 50s 9d
per cunt.

Interest at the rate of 5 por cent. will Ile paid
on the Algerine Railway shares on and after the
Ist proximo.
The directors of the Bahia Gas Company have
made a final call of £2 per share, payable on or
before the 21st of August next.

Notice has been given that Vice-Chancellor
Wood will make a call of £5 per share on the 2d
Proximo on the contributories of the Phoenix Life
Assurance Company, now winding up in Chancery.

BRITISH FUNDS—CLOSING PRICES.
Bank Stock
3 per Cent. Redui :..ed Annuities
el, Per Cent. Conso Is Annuities
a i New 3 per Cent., tonnuities s'3
6per Cent. Annuities llO/
Annuities, 30 yrs, expire sth Jan., 1880 —
1 atiit, tow.fooerk3o. yrs, expire sth April, 1885 l5 5 5-16
227
Ditto 5 per Cent.
Ditto Enfaced Paper, 4 per Cent —
Ditto 5 per Cent 1,,3/ f 4/
Ditto 51 per Cent ... 1101
Ditto Debentures, 4 per Cent., Oct., 1863 100 k
Ditto ditto April, 1864 1001 I
Dili, Bonds 1.1,000
Consols for Account, Aug. 7 (-)3i I i
Exchequer Bills £l,OOO, 3 per Cent l7 21 pm
Ditto MOO
Ditto Small .
FOREIGN FUNDS—CLOSING PRICES
Brazilian, 5 per Cent. —
Ditto, 1839 and 1859
Ditto 4} per Cen.t.. 1852-58-60
Buenos Ayres 6 per Cent
Ditto 1 per Cent. (Deferred 3 per Cent.) 38
Chili= 6 per Cent lO2/
Ditto 41 per Cent. -
Egyptian, 7 per Cent., Scrip
Ditto aid-up Scrip
... 92± 44 31 4 31
Italian 5 per Cet,it. (Maremmana Railway) 721 31
At xican, 3 per Cent
Ditto Accow at
8i i
New Grenada , 2 per Cent 251
Portuguese 3 per Cent., 1853
Ditto Account
Ditto SmaJ I
ringFtian 5 war Cent 1822 £ St ..
Ditto 11362' (Scrip) 2_l_

.
a i
Ditto, Plid‘up Scrip
Bphtush 3 per Cent
Ditto Account
Ditto Ne w Deferred —
i)itto Ac count
/
. 1
Ditto Pa,Fsive..
'Danish Cert. of Coup. not funded ...... 91;
'''2141,-ish 6 per Cent. 1854
-bitto 6 per Cent. 1858
Ditto Account
Ditto 6 per Cent., 1862. Scrip 2 lia
Ditto, Paid -up Scrip
v enezuela, 3 per Cent 7_o 691, 70k
Ditto Account
Ditto 11 pet Cent
It_ Divid.ends on the above payable iD London.
~_ _ 1
alian, per Cent., 1861, Ex. 25f.
Nt'Lsols, Money
I litto Account

Nit ies Two O'CLOCK.
l'here is still a very quiet demand for discount
Et.ee' )Inroodation, notwithstaniing the increased fa-
now offered. The Bank for the moment
11t'' receiving- very few applications, for although
!the Minimum has been reduced to 2 per cent. ac-
°''lntociation is obtainable elsewhere as low as
Per cent;
\ Increased buoyancy pervades the Stock
Exchange
a tkets, and although the transactions are limited
i" re is a strong upward tendency. This, of course,
a ttributable to the uneasiness of money, and the
scr °llluble weather .cor the crops. For some de-
iPtions of securities there is an extraordinary
4-'lland, but speculation generally continues quiet,
'1 the investments are not sufficient to create
"
activity. Com,ols are 9V,-, for money and
7th proximo, sho'cving an advance of per
cent on the improved quotations of the previous