The Sun.
London, England, 1865-10-07 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

TWELVE O'CLOCK.
The Directors of the Bank of England this
morning made a further advance in the rate of dis-
count of 1 per cent., the current rate being now 7
per cent. The demand for money continues active,
a nd first-class bills can only be negotiated on the
above terms.
The movements of the precious metals during the
past week have not been of a very extensive cha-
racter. The imports have amounted to about
£556,872, chiefly from Australia and New York ;
while the exports have been to the extent of
£149,081.
A new joint-stock undertaking, which is likely
to rank amongst the highest of those introduced
within the last few years, has been introduced this
evening. It is to be called the Merchants' Company,
and is formed for the purpose of carrying on the
business of merchants, with limited liability—a
system which has undoubtedly proved of the great-
est benefit wherever it has been adopted in banking
and financial undertakings. In the present case
the directors, in order to secure a basis on
which to commence immediate operations, have
succeeded in purchasing the old-established
and lucrative business of Messrs. Lane,:Hankey,
and Co., and they propose to take in other busi-
nesses of a similar character as favourable oppor-
tunities occur. The sum agreed to be paid to
Messrs. Lane, Hankey, and Co. for the purchase of
their property is £25,000 in debentures, payable
one-fifth annually, with 5 per cent. interest, and
2,500 shares, with £l5 each credited as paid thereon,
the vendors at the same time guaranteeing a mini-
mum dividend of 10 per cent. per A nnilm fnr n pprind
of three years ; and this the firm may well afford
to do, as it has been found from an examination of
the books by Messrs. Coleman, Turquand, and Co.,
that for the last six years the annual net profits
have averaged £17,816. The capital proposed to
be raised is £500,000, but the first issue will be for
only half that amount, in 10,000 shares of £25 each,
£1 to be paid on application and £4 on allotment.
The share list will remain open only until the 12th
inst.

Two O'CLOCK.
At the Paris Bourse this morning, according to
Reuter's telegram, the 3 per Cent. Rentes were
67f. 77c.

ANOTHER ADVANCE 1N THE BANK RATE OF

DISCOUNT.'
Much astonishment has been produced by an ad-
vance in the Bank rate of discount this morning. The
pressure upon the establishment was so great that the
authorities were compelled to make the alteration.
The movement has produced considerable excite-
ment, as it must be remembered that this is the
third time that the rate has been raised this week ;
it is consequently argued that there must be some
very powerful motive. Securities of all description
show great heaviness, although the variations have
not been considerable. Consols closed at 881 for
money and the 10th instant, and 88! for No-
vember.

Increased depression has prevailed in the Foreign
Stock Market. Mexican stock has receded ; do.
New, i; Spanish Passive, ; the Certificate, ; and
the Italian Loan,
The operations in the Railway Share Market have
been on a very moderate scale, and prices have
shown increased depression consequent upon the
advance in the value of money. Great Northern
and Metropolitan and Great Northern have each
declined 1 ; North Western, ; and Lancashire and
Yorkshire, Midland, and South-Eastern, each
The Foreign and Colonial lines are also at
slightly reduced rates.

Bank and Miscellaneous Shares continue dull,
and in some instances are a shade flatter.
The Discount Companies and private firms have
raised their allowance for deposits to 5 per cent. for
money at call, 5f for 7 days' notice of withdrawal,
and 6 per cent. at 14 days' notice.

BRITISH FITNDS—CLOSING PRICES.
GOVERNMENT FUNDS.
per Cent. Consols BBl
Do. Account, .... e/ 1. 1
it per Cent. Reduced B6l New 3 per Ceit B6i,/
New 3f per Cent.,
Jan. 1894 ......... Do. 5 per Cent. Jan. 1873 .... —
Annuities, 30 yrs, expire sth Jan., 1880
Do. for 3U yrs, expire sth April, 1885
Do (Red Sea Telegraph), Aug., 1908
Exchequer Bills, £l,OOO, 3 per Cent
Do. £5OO 9 4 dis
Do £lOO and £2OO ...
Bank of England Stock, 51 per Cent
Do Account
INDIAN GOVERNMENT SECURITIES.
Indian Stock, per Cent., April 1874 —
Do Account
•
Do. 5 per Cent. July, 1870
Do. Account
Do. 4 per Cent., Oct. 1888
Do. Certificates
Do. Enfaced Paper 4 per Cent
Do. 5 per Cent., Jan. 1872
Do. 51 per Cent., May 1879
Do. 4 per Cent., Aug. 1866
Do. Bonds, £l,OOO l9
Do. under £l,OOO
FOREIGN FUNDS—CLOSING PRICES.
Austrian Bonds, 5 per Cent, 1859
Brazilian 5 per Cent
Do. 41 per Cent., 1852-58-60
Do. 1863
Buenos Ayres 6 per Cent
Do. Account
Do 1 per Cent. (Deferred 3 per Cent.)
Chilian 6 per Cent
Do. 41 per Cent
Colombian 6 per Cent.
Cuba, 6 per Cent.
Danish 3 per Cent., 1825
Do. 4 per Cent., 1863
Do. 5 per Cent., 1773-77, £25 paid Danubian Principalities
• - Do Account
Equador New Consolidated, 1 per Cent —
Do.,
Provisional Land Warrant
Egyptian 7 per Cent.
Do £lOO Bonds
Do., Second Issue
..
.1864,
Do.
Do £lOO Bonds ............................. 91901 1
Greek 5 per Cents., 1824-5, ex Coupons
,Do Account
Do. Coupons
Do Account 7l.
Cruatemala 5 per Cent.
Do .£B6 paid
Do. 1839 and 1850
Italian 5 per Cent (Maremmana Railway)
Do 1865
Do Scrip, £671 paid
Do 5 per Cent., 1864
Do. Scrip, £55 paid
Mexican 3 per Cent
Do. Account
Do 1864 .. ...... 241
1)0 6 per Cent. Anglo-French —
Do French Scrip, Ex. 25f 20c
Montevidean 6 per Cent., £3O paid
96
Moorish Imperial 0 per Cent
New Granada
Do 2 per Cent
Do Deferred
Do Land Warrants (Hectares)
Peruvian 41 per Cent
Do. Account
Do Scrip, £l5 paid, paid in Bonds
Do 3 per Cent. (Uribarren)
Do 41 per Cent., 1862
Portuguese 3 per Cent., 1853
Do Account
Do 3 per Cent., 1856, '7, '9, '6O, '62, '3,
Do. Account
ussian 5 per Cent., 1822, £ St B9 1
Do 41 per Cent. 1850
Do 3 pei Cent. 1859
Do 4/ per Cent., 186 U
o 5 per Cent. 1862 9l
Do 5 per Cent. 1864
.... ................
Sardinian 5 per Cent
Do Account
Spanish 3 per Cent .
Do Account
Do New Deferred .. ..................
Do Passive
Do Account
Spanish Cert. of Coup not funded 2Bi I
Do Account
14±
Swedish 4 per Cent.
Do Account.,
Do
• 41 per Cent 186-1
uriush 6 • •.
e p 9. Cent. 1854
Pr Cent. 1858
DDu Account,
,11" Solids .....• Dos -
DDo A ruutient. 1862
o -4Zl,t
Do 6 pert=mods .........
74 Do 5 per -
Do .£1(0 13e4t. 1865
Do Scrip,
Do Guaranteed,ol'e.clipttj -
Venezuela 3 per
DDo. 6 per Cent, 1864 ...................▪
....
o. Account ........
Dividends on the ••
Austrian, 5 per Cent., E. folpayable in London.
Belgian, 4,i per cent., Ex. 25f. 'c'thas •••
Dutch 21 per Cent., Ex. 12 Guil • 6-11
Consols
TWO O'CLOCK.
Do. Account ..................... ....... 88t