The Sun.
London, England, 1854-05-12 00:00:00

MARITET NEWS-JTHIS DAY.)

CO- Is,
Fresh up to our market io-day the receipti
grown, coastwise and by land carriage, were limited, and
the show of samples of both red and white were very
moderate. On the whole the demand ruled steady, and
Monday's prices were well supported.
With foreign wheat, we were well supplied. Sales pro-
gressed steadily, at full quotations.
There was a slight improvement in the inquiry for float-
ing cargoes.
The supply of barley was good. The trade was very in-
active, on former terms.
Malt was held on higher terms, owing to the advance in
the duty.
We had a moderate sale for oats, at full currencies.
Beans and peas were dull, on former terms.
Their was only a moderate inquiry for flour. In the
quotations no change took place.
ARRIVAL.% THIS WEEK.

Wheat. Barley.
1,320 1,180

NI alt. Oats, Flour.
5,010 530 560
5,870
ti,170 2,6005 ks
3,080brl

English
Irish •• • •

16,210 1 7,680

Foreign ..

SMITHFIELD.
To-day's market was liberally supplied with most breeds
of beasts, the quality of which was by no means first-rate.
The trade was in a very inactive state, at Monday's decline
in the quotations. The top figure for the best Scots was
4s 4d per 81bs. We were well supplied with sheep, in
which a good business was transacted, at very full prices.
There was an improved inquiry for lambs, the value of
which was well supported. Prime small calves were scarce,
and quite as dear as last week. Inferior calves, as well as
pigs, were dull.
Mulch cows sold heavily, at from 141. to 191. each, in
eluding their small calf.
Per 81bs to sink the offals.

s. d. s. d.
Inferior Beasts.... 3 oto 3 2
Second quality.... 3 4 3 6
Prime large oxen 3 8 4 0
Prime Scots, &c. 4 2 4 4
Inferior Sheep ...3 6 3 8
Second quality 10 4 4
Prime crse.-wlled. 4 6 4 8
Lambs...... ........
Tow. SIMPLY.

s. d. s. d.
PrimeSouthdown 410 5 0
Large case. calves 4 4 5 0
Prime small d 0... 5 2 5 6
Large hogs .........3 0 4 2
Small porkers ...... 4 4 4 8
Sucklingcalves ..22 0 28 0
Quarter old pigs 20 0 27 0
58 2d to 6s Bd.

Beasts .. •• •• •• •• ...... 1,062
Sheep ..• •• •• •• ........ 8,432
299
Calves .. —••••••-. ...... 300

NEWGATE ANI
A full average business 1
market, as follows :
Per Sibs by

s. d. s. d.
Beef, inferior 210 3 2
Do., middling 3 6 3 8
Do., prime large 3 8 3 10
Do., do. small 3lO 4 0
Pork, large 3 4 4 0
Lamb

BANK ~DISCOUNT.'

The Bank of England ye•itcrclay raised their rate of
discount from 5 per cent., at which it had stood since
the 29th of September, to 4 per cent.
This measure would have been fully anticipated but for
the favourable turn observable during the past week in
the foreign exchanges, coupled with the impression,
which has this afternoon been realised, that the Bank of
France were about to reduce their rate to 4 per cent.
Although, under these circumstances, it took the public
in some degree by surprise, no question is raised as to
the propriety of the step, and the general relations of
trade are still so healthy that it has not awakened appre-
hension in any quarter. Instead of the movement being
regarded as premature by those who have watched the
efflux of bullion since September, it is seen that an
unusual delay has been practised. While the drain of
gold during the past 16 months has been to the extent
of 7,611,7361., and the attempt to arrest it has caused
six alterations of a half per cent. each in the rate of dis-
count, nearly 3,000,0001. of the loss has occurred sub-
sequently to the last advance. The public, therefore,
after noticing the conditions which had necessitated the
preceding alterations, had every cause to be prepared
for an additional one, and the sole reason for its not
having been adopted at an earlier date would appear to
consist in that, owing to the contraction of business
consequent on the war, a large diminution of the circu-
lation has been compatible only with a moderate increase

in the demand for money.
It is true that all the considerations that could warrant
a fresh movement to-day existed apparently in greater
force a week or two ago ; but it is not upon a question
of a fortnight one way or the other that the policy of
the measure turns. It has been believed for some time
to have been under serious discussion, and the presump-
tion may be entertained that the latest signs with re-
gard to the stock of bullion, and the applications for ac-
commodation, have been such as to influence the de-
cision now arrived at. Unless some decided check to
the drain had become manifest, further hesitation could
not have been justified by the recent improvement in
the foreign exchanges, which may prove as transient as
that which occurred a few weeks back. It is also to be
borne in mind that the late large arrivals of grain have
failed to produce any very serious depression on the
corn-market, and that the country is wholly in the dark
as to what will yet be required before the harvest, while,
at the same time, the last telegraphic quotations by the
overland mail will show that the Eastern exchanges are
still far from satisfactory.
Hence, although there is ground for anticipating
that a more favourable, instead of a more adverse state
of affairs, may be at hand, there are too many elements
of uncertainty in the immediate future to render it de-
sirable that any precautions should be neglected. It is
possible that much of the demand for discount at the
Bank within the current week may have been of an arti-
ficial character, from the expectation of a further rise,
and it seems unlikely that, in the present intimate busi-
ness connexion of the two capitals, a difference of
per cent. can long prevail between the rates at London
and Paris. If these suppositions should be correct, the
Bank will of course soon cease to find customers, and a
return to a lower charge will take place, no harm having
meanwhile been caused, since the commerce of the
country is free from all unhealthy sensitiveness.

HER. MAJESTYIS DRAWING ROOM,

Ticr Majesty held a drawing room (the third this sea•
son) yesterday afternoon in St. James's Palace. Her
Majesty and Prince Albert, escorted by a detachment of
the Life Guards, arrived from Buckingham Palace soon
after two o'clock, and were received by the great officers
of state.
Her Majesty's Guard of the Hon. Corps of Gentlemen-
at-Arms was on duty in the state saloons, under the
command of the lieutenant. The sub-officers, Lieut.-
Colonel Nevill and Major Cooke, were on duty with the

corps.
Her Majesty's guard of the Yeomen of the Guard was
on duty, under the command of the Exon in waiting.
The Queen and Prince Albert entered the throne-room
attended by the Mistress of the Robes, the Duchess of
Sutherland; the Ladies of the Bedchamber, the Viscoun-
tess Jocelyn (in waiting), the Duchess of Wellington, the
Viscountess Canning, the Countess of Desart, and the
Marchioness of Ely ; the Maids of Honour, the Hon.
Caroline Cavendish (in waiting), the Hon. Flora Mac-
donald (in waiting), the Hon. Eleanor Stanley, the Hon.
Lucy Kerr, the Hon. Beatrice Byng, and the Hon. Mary
Bulteel ; the women of the bedchamber, Lady Charlotte
Copley, the Hon. Mrs. G. E. Anson, and the Hon. Mrs.
George Campbell; the Lord Steward, Earl Spencer, K.G. ;
the Lord Chamberlain, the Marquis of Breadalbane, K.T. ;
the Master of the Horse, the Duke of Wellington ; the
Groom of the Stole to his Royal Highness, the Marquis of
Abercorn, K.G. ; the Treasurer of the Household, the
Earl of Mulgrave ; the Vice-Chamberlain, Lord Ernest
Bruce ; the Comptroller of the Household, Viscount
Druranrig ; the Lord-in-Waiting, Lord Rivers ; the
Lord-in-Waiting to his Royal Highness, Viscount Tor-
rington ; the Keeper of her Majesty's Privy Purse, Colo-
nel the Hon. Charles Phipps, C.B. ; the Private Secre-
tary to his Royal Highness, Colonel the Hon. Charles
Grey ; the Groom-in-Waiting, Sir Fred. Stovin ; the
Groom-in-Waiting to his Royal Highness, Colonel
Wylde ; the Equerry-in-Waiting, Colonel Bouverie ; the
Equerry-in-Waiting to his Royal Highness, Captain the
Hon. Dudley de Ros, and the Pages f Honour in
Waiting.
The Queen wore a train of green and white brocaded
silk, trimmed with white tulle and blonde, and alternate
bunches of violets and pink and white May blossoms.
The petticoat was of white satin, with white tulle and
blonde, and bunches of violets and pink and white May
blossoms to correspond with the train.
Her Majesty's head-dress was a wreath of violets and
pink and white May blossoms and diamonds.
The foreign ministers were introduced, when the fol-
lowing presentations to the Queen took place in the
diplomatic circle :
By the Countess of Clarendon, Miss Harriet Lane,
niece of his Excellency the United States Minister ;
Mrs. Lawrence, wife of Colonel Lawrence, attache to
United States Legation.
By Madame Comyn, Countess de Pomer, wife of
Brigadier-General le Comte de Pomer, of the Spanish
army.
By the French Ambassador, M. Arthur Berryer,
Commissionaire du Gouvernement Imperial.

By the Austrian Minister, M. Charles Perceval, Major
au service de S.M 1., and R. A.