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

IONEY SARKET

AND

COMIYIERC LAI4 INTELLIGENCE,

CITY, TWELVE O'CLOCK.
REDIr.ICTION IN THE OFFICIAL RATE OF ,
DISCOUNT.
The directors of the Bank of England have, at
their weekly meeting to-day, notified a reduction
raf per cent. in the rate of discount, viz., from 6
to 5/ per cent.
The change that has taken place has been rather
zudden, because there were a few who had indulged
the hope of further facilities being immediately
afforded, but the larger portion of the commercial
classes expected that the authorities would have re-
frained from adopting the measure to-day ; and,
after waiting for a week, would have reduced the
Illairlimum 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
now tending in a satisfactory direction, the foreign
exchanges are not against this country, and there is
little demand for gold on continental account.
There has also latterly been a curtailment of the
circulation of coin in the provinces, which has like-
/vise contributed its share in permitting the bullion
at the Bank to be increased, while the recent small
inquiry for accommodation, and the great difference
which existed between the official minimum and the
lowest rate charged by the brokers have induced the
Public to negotiate their bills in the open market,
lust powerfully have told upon the amount of other
securities. The return, which will be issued this
eVening, 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
pear, further facilities may be counted upon.
°ray 4,000/. in gold was taken into the Bank
Yesterday,

Two o'CLoCK.
At Paris to-day, according to Mr. Reuter's tele-
Faln, the 3 per Cent. Rentes have been 66f. 85c.
Inanimate.
The National Discount Company, Messrs. Over-
end, Gurney & Co., Messrs. Alexander Cunliffes &
C°', &c., will allow on deposit accounts 41 per
cent for money at call, 41 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 1 per
cent.
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 51 it 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 898 90 for money,
and 908 4 for the account. The New Threes and
Reduced Annuities are 898 4 ; Annuities 1885,
14 5-16 ; Exchequer Bills, par to ss. prem. ; India
6 per Cents., 103* 104 ; and Enfaced 4 per Cents.,
91.
Foreign Securcties have exhibited general firm-
-11,,,e55, and a good business has been transacted.
Turkish 6 per Cents., 1862, are 70 ; do. Con-
80lides, 50*; Mexican, 28* ; do. New, 261 ;
t
Greek, 2411; Spanish Passive, 321 321; do. Cer-
Tifi.eates, 14i ; Portuguese, 47 ;the Confederate
L°4ll, 531 ; the Egyptian, 1* prem. ; the
anubian, dis. par ; and,the Montevidean, 31
Prem. -
Business in the Railway Share Market has been
Moderately active, and prices have, in several in-
tillt,e 111ef3) exhibited a firmer tone, consequent upon
favourable traffic receipts on most of the princi-
Lar'l lines Caledonian and South Eastern have each
ITZed 1/. ; Metropolitan, 1/. ss. ; Great
tieril A stock and Midland, each 10s. ; and
orth Western' sa•
The Foreign and Colonial lines have remained
'rerY inactive •
without any material change in values.
Lona,l* and Miscellaneous Shares also continue dull.
'°ll and
83 . County, however, have improved to
-.Luanee
count, 1i D
v 33i 341 ; and Joint Stock m-
, i3RITISII FUNDS—ONE O'CLOCK.
3
1),f7 eent
L,o. Ace • °llSols 90 79i
i)ew7elito.iket,,iiFeeebci 9 9Ol
84 /
N Per cell,.
ev? 21 ............. . ............
,0 per yew JL' • 5 per • an. 1894
old. Jan. 1873
fornr Yrs, expire sth Jan , 1880
Do (p,-,l",_Yarg,t_epire sth April,. 1815 —
Dower4;zehe'L 7or„, Telegraph), Aug., 1908 —
Bills, £l,OOO, 4 per Cent
£5OO par 2 pia
13alak of
£lOO and £2OO
Do. Account
tnd Stock, 5+ per Cent 242 401
~ IND/AN G
di
rE.RNMENT SECURITIES.
V.,„0 MCC , 10} per. Cent, April 1874 212 15
o. Account
..... ............................
5
per Cent. July,•l870
P•uo. Account ... . . . ...
o. 4 per Papct. 1888 ..
............
Enfacedr 4 per Cent 9l
DDo. 5 per Cent., Jan. 1872 . Do. 51 per Cent., May 1879 .................
DDo. 4 per Cent., Aug. 1866 ....................
o. Bonds, £l,OOO ... ... . .................... Pm
Do. under Xl,OOO ...........................
FOREIGN FUNDS—ONE O'CLOCK.
Austrian Bonds, 5 per Cent
• Brazilian 5 per Cent
Do. 4j per Cent., 1852-58-60
Do. 1863
Buenos Ayres 6 per Cent
Chilian 6 per Cent
Colombian 6 per Cent.
Cuba, 6 per Cent. . •• •
Do 5 per Cent., 1.86.4 . :
Danish 3 per Cent.; 1825
Do• 4 per Cent., 1863 ............ ..
„ no. 5 per Cent., 1773-77,. £25 paid
suanubian Principalities
Du £l5 paid
dis
trdor New Consolidated, 1 per Cent o„.Provisional Land Warrant
•ctryptian 7 per Cent
-1-)0., Second Issue
DO. £lOO Bonds 9B
Do. 1864 951 -uo. Scri £35 paid
Do.-.Accop imt
Gr.,..seek 5 per Cent5...1824-i .......
'Jo. Account •'
. "Pns 2
Do. Coupons
DoAccount
Guatemala 5 per Cent. 101
Do. 1839 and 1850 ..
Italian 5 per Cent (31a;eirM;11. 6Bl lUxican 3 per Cent.
28 Do Account
Do 1864 261
Do 6 per Cent. Anglo-French
Do scrip, £53 paid
Do French Scrip, Ex. 25f 20c..., dis
blontevidean 5 per Cent., £l5 paid 3-
dis
Moorish Imperial 5 per Cent
New Granada .. . .............
Do 2 per Cent ..................................
Do
nussian De5
pe Ceniferred .. .
................. ..
..
94i
r .. ..
Do 4} per Cent., 1850 ..................... 871
Do 1860 ...................
Do 3 per Cent., 1859
Do 5 per Cent., 1862
Do 1864
Do Scrip, £65 paid
Sardinian 5 per Cent
Do Account
Spanish 3 per Cent 474D0 New Deferred
Do Account
Do Passive
Do Account
Spanish Cert. of Coup not funded
Do Account
Swedish 4 per Cent.
T urkish 6 per Cent. 1854 9O
Do Account
Do 6 per Cent. 1858
Do Account
Do £lOO Bonds
Do 6 Do Acco perunt Cent. 1862
Do £lOO Bonds 7Ol
E 0 per Cent.
ve Gupa ranteed,lB63 4 per Cent
4ezuela 3 per Cent.
noAccount
u Per Cent, 1862
47
Account } 8

-ki°' 6 Per
per Cent Cent., 1864 42j
Dividends on the above payable in London.
ALelgia~ustrian, 5 per Cent, Ex: 10,Florins
4-} per cent, Ex. 25f.
Dutch 2/ per Cent, Ex. 12.,Gui1
FDo. 4 per Cent. Certificates
rench Rentes, 3 per Cent.
Italian 5 per Cent., 1861, Ex.. 25f.
Do. Account
—B4l
Col:L TWO O'CLOCK.
Daois, Money
90
o' Ace9tult ........... lsmat, 901