The Sun.
London, England, 1865-01-12 00:00:00

-

ONEY ''-DTARKET

N

COTAURVAL INTELLIGENCE,

CITY, TWELVE O'CLOCK.
REDP:CTION IN THE OFFICIAL RATE OF

DISCOUNT.
The directors of the Bank of England have, at
their weekly meeting to-day, notified a reduction
of Per cent. in the rate of discount, viz., from 6
to 51 per cent.
The change that has taken place has been rather
Sudden, because there were a few who had indulged
the hope of further facilities being immediately
afforded, but the larger portion of the commercial
Masses expected that the authorities would have re-
frained from adopting the measure to-day ; and,
after waiting for a week, -would have reduced the
Illinimum one per cent. It is, however, a matter of
gratulation to the mercantile community, after so
Protracted a period of monetary stringency, to find
the Bank in so favourable a position as to be able to
grant immediate relief. Everything appears to be
how tending in a satisfactory direction, the foreign
exchanges areittle not against this country, and there is
little demand for gold on continental account.
er'e has also latterly been a curtailment of the
er:eolation of coin in the provinces, which has like-
Wise contributed its share in permitting the bullion
t the Bank to be increased, while the recent small
1...,,,n,c1uirY for accommodation, and the great difference
ch existed between the official minimum and the
lowest rate charged by the brokers have induced the
bhc to negotiate their bills in the open market,
must Powerfully havetold upon the amount of other
ectlx.itles• The return, which will be issued this
~
s'" ening, will, no doubt, fully prove the. necessity
for the
immediate adoption of the measure, and if
the Public be only true to their own interests, and
refrain from speculating so extravagantly as last
t'ea'r', further facilities may be counted upon.
Only 4,000/. in gold was taken into the Bank
Yesterday.

Two O'CLOCK.
At Paris to-day, according to Mr. Reuter's tele-
frail; the 3 per Cent. Rentes have been 66f. 85c.
411ahillaate.
The National Discount Company, Messrs. Over-
-11(1, Gurney & Co., Messrs. Alexander Cunliffes &
-°', &c., will allow on deposit accounts 44 per
cent, for money at call, 44 for seven days, and 5
Per cent, for fourteen days' notice of withdrawal.
The alteration does not extend to money at call,
and the reduction made for 7 and 14 days is 4 per
wit.
The reduction in the official'rate of discount has
induced the public to bring forward a large number
of securities ; but as the supply of capital at the
command of the public and private establishments
is exceedingly plentiful, the quotation out of doors
has receded to 54 1 for three months' paper.
The English Stock Market has continued steady,
and although very little business has been nego-
tiated, seeurities nevertheless maintain their former
prices. The Funds have remained rather buoyant,
and Consols are again quoted 89* 90 fOr money,
and 904 4 for the account. The New Threes and
Iteduced Annuities are 89* 4 ; Annuities 1885,
14 5-16 ; Exchequer Bills, par to ss. prem. ; India
5 Per Cents., 1034 104 7 • and Enfaced 4 per Cents.,
91,
Foreign Securcties have exhibited general firm-
-11,„%a, and a good business has been transacted.
solides, 50* ;
Turkish 6 per Cents., 1862, are 70 4 4 ; do. Con-
G
„reek, 24i i. ; Mexican, 284 4 ; do. New, 261 4 ;
Spanish Passive, 32132* ; do. Cer-
"ficates, 144 i ; Portuguese, 47 4 ; the Confederate
lijan, 53i 54* ; the Egyptian, 14 4 prem. ; the
a4ubian, i dis. par ; and the Montevidean, 34 4
Areal.
toßusiness in the Railway Share Market has been
maoder +a‘'e.l
Y. active, and prices have, in several in-
viell,ces, exhibited a firmer tone, consequent upon
paiii.axourable traffic receipts on most of the princi-
i, Ines• Caledonian and South Eastern have each
-"Proved 11
Northern • ; Metropolitan, 1/. ss. ; Great
- Midland each 10s. ; and
W
xortis
,n A Es tock and )
' estern 5
The Foreign ' 8.
Very reign and Colonial lines have remained
~., inactive without any material change in values.
Bank Miscellaneous Shares t and
also 3
;m continue dull.
o
have improved to
mortand
i A
li . County, however,
--eiance , to 331 344 ; and Joint Stock Dis-
count, to 9i i.
Illurm.,
(14., -'-171 FUNDS—CLOSING PRICES.
16. m. iirZitilina,v ,
. -,‘• kieut 'r, ---T r UNDS.
lio A • -ousoi.
Neer • -4COIIII Feb.-
Cent ,-, . 9w , • 4tediced B9/ -1-4
lie " Per Cent
894 i 1
W 21 per c
Do Cent. Jan. 1894 —
AlitaiitiePer Cent. Jan. 1873
Do. for 3p Yrt3, expire sth Jan., 1880 _
,‘
11,•,,,, ov yr. -,expire sth April, 1885 l4 5-16 , -1u
I.4e`-' kited Sea Telegraph, Aug., 1908
Doheciller Bills, . g -
per Cent
.
£5OO }par 5 pm
Do.
Banke _, _lie £lOO and £2OO
D of
-I land Stock, 51 per Cent 242 40-1
0. Account
INDTA, ,-,
Ito, . ~/OVERNMENT SECURITIES.
„,klatt Stock, 101 per Cent., April 1874 212 15
iio Account 2 -
DoD. 5 per Cent. July, 1870
o. Account
_
Do. 4 per Cent., Oct. 1888
Do. Enfaced Paper 4 per Cent 9l
Do. 5 per Cent., Jan. 1872
Do. 54 per Cent., May 1879
Do. 4 per Cent., Aug. 1866 -
Do. Bonds, £l,OOO
pm
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Austrian Bonds, 5 per Cent —
Brazilian 5 per Cent —
Do. 4 per Cent., 1852-58-60
o. 1863
Buenos Ayres 6 per Cent —
Chinon 6 per Cent —
'Colombian 6 per Cent. —
Cuba, 6 per Cent.
Do 5 per Cent., 1864 —
Danish 3 per Cent., 1825 —
Do. 4 per Cent., 1863 —
Do. 5 per Cent., 1773-77, £25 paid —
Danubian Principalities
Do £l5 paid — dis
cittador New Consolidated, 1 per Cent —
Do., Provisional Land Warrant —
gyptian 7
-D 0., Second Issue —
Do. £lOO Bonds 9B 1
Do. 1864 954 1
Do: Do.
£35 paid — pm
Do:Account
5 per Cents., 1824-5, ex Coupons pm
Do. Account
Do. Coupons
Do Account
104
Guatemala 5 per Cent.
Do. 1839 and 1850
Italian 5 per Cent (Maremmana Railway) 681
Mexican 3 par Cent.
Do Account 2B 1
Do 1864 264
Do 6 per Cent. Anglo-French —
Do Scrip, £53 paid .. • • dis
Do French Scrip, Ex. .251.20. c ....
********
dis
Montevidean 5 per Cent, £l5 * ***l ''''''''
34 4
Moorish Imperial 5 per Cent Pal'
pm
New Granada ' .............................. Do 2 per Cent, ..................................... Do Deferred .................. ~.. ............... Zi. Russian 5 per Cent., 1822, X BA., ............ 94
Do 41 per Cent., 1850 ..................... 871
Do 1860
Do 3 per Cent., 1859
Do 5 per Cent., 1862
Do 1864
Do Scrip, £65 paid pm
Sardinian 5 per Cent
Do Account —
Spanish 3 per Cent 474
Do New Deferred —
Do Account —
Do Passive —
Do Account
Spanish Cert. of Coup not funded
Do Account —
Swedish 4 per Cent. _
Turkish 6 per Cent. 1854 9O
Do Account —
Do 6 per Cent. 1858
Do Account —
Do £lOO Bonds
13,0 6 per Cent. 1862 ..,
u 0 Account.

701

lac; ilOO Bonds
r° 6 per Cent. 1863 —
It Guaranteed, 4 per Cent ____
?,„nezuela 3 per Cent. .
'-',O- Account
,'"°. 6 per Cent, 1862 47i 8
DO. Account
Do. 6 per Cent., 1864
per
.1. r Cent,
LI

_widonds on the above payable in London.
Austrian, 5 per Cent., Ex. 10 Florins .., .
butchl3 elgian, 41 per cent., Ex. 25f.
21 per Cent., Ex. 12 Guil
Do. 4 per Cent. Certificates,
It Fren Rentes, 3 per Cent.
aliach n 5
O. A count Cent., 1861, Ex. 2sf.
•
THREE O'CLOCK.
Consols, Money
Do. Account
...... ..................... ~„ 90i