The Sun.
London, England, 1856-12-18 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
REDUCTION IN THE RATE CF
DISCOUNT.

Until a late hour yesterday afternoon the im-
pression generally prevailed that the Banq
Directors would not; make any alteration in the
rate of discount to-day. Then, however, when the
subject began to be more carefully considered, and
it was recollected that, unless they availed them-
selves of the present opportunity, nu modification
could be effected this year (next Thursday being
Christmas Day) some change of opinion ensued,
and 'during the early part of this morning a
reduction to 6 per cent. was spoken of
as certain. This view has prov.ed correct,
for, after a very brief discussion, the direc-
tors separated, with the announcement that
the minimum was lowered to that quotation. The
general position of the establishment was known
to have improved in a degree that would warrant
increased discount facilities being granted, especi-
ally as the Reserve of notes on the 6th inst., when
the last return was completed, had risen above
5,000,000/., but it was thought that the active de-
Maud for money, the tenacity with which the autho-
riles of the Bank of France retained their restrictive
regulation, the continuedinflux of gold to the conti-
nent, andthe advance in therate of discount at Ham-
burg,might have induced them to defer the measure
Until the commencement of the new year. This
relief, therefore, coming as it does earlier than was
expected, cannot fail in affording the greatest satis-
faction to the mercantile community, whose confi-
dence in a revival of business early in the spring
Will consequently be greatly increased.
The Liverpool Cotton Market yesterday closed
With firmness, and prices were extreme. The sales
amounted to 10,000 bales, 3,000 of which were
taken on speculation, and 500 for export. The
Railway Share Market opened quietly, but subse-
quently improved, and closed at about the rates
Current on Tuesday.
The Magdalena, arrived from the West Indies,
brings $1,025,485, or about 205,097/., in specie.
Trade at Jamaica was exceedingly dull, but with
the approach of Christmas increased animation was
expected. In Demerara commercial affairs were
also in a quiet state. By this opportunity there
are advices from Sydney to Sept. 11, which is 13 I
days later. At that period the wool market was
active, and full rates were current. There are very
few letters and papers in town, and the information
relative to the recent gold discoveries is exceedingly
meagre.

An improvement of above per cent. took place
on the Paris Bourse yesterday, in consequence of
extensive purchases by the speculators. Railway
Mhares were generally at enhanced rates. A rumour
Was circulated on the Bourse that the application
lade by the Syndicate of Bankers for permission
to form a Societe Anonyme had been unsuccessful,
the period not being opportune for the formation
01 any new company, especially of such an extent
a the one proposed.
.The English Stock Market opened firmly at a
alight improvement, and as soon as the Bank
Directors' decision became known, a further ad-
vance took place, and the quotations are now
buoyant, although the transactions are not very
numerous. Consols have been 93 3f 93 /, and
63i to 94. Exchequer Bills have declined to 3s.
and 4s. premium. The Bonds are 98/, and India
fonds Is. discount to 2s. prem. Bank Stock ruled
heavy at 2171. The New 3 per Cents. are 93i to
94, and the Reduced 93i I.
In the Foreign Market very few bargains have
been recorded, but higher quotations are current.
Turkish 6 per Cents., from 94 to 95, have risen
to 95 and 951, and the 4 per Cents. are nominally
Amer. Spanish Certificates have been dealt in at
6, Sardinian 5 per Cents. at 88k, Dutch 2i per
Cents. 651, and Belgian 4per Cents. 98.
Market
transactions reported in the Railway Share
-elarket this morning have not been very exten-
arve, but prices have in most instances shown a
:belt upward movement, having been influenced
by the reduced charge for discount announced
,this morning by the Bank of England. South-
-"-Astern advanced 10s. to 155., Caledonian 155.,
Manchester , Sheffield, and Lincoln, 10s., and
South-Western about ss. Paris and Lyons ad-

/laneed 1/., Namur and Liege 55., and Grand
funk of Canada ss. The East Indian lines rule
tn.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :-
1856. 1855.
great Western
„,North-Western '
Brighton
12,843 12,240
tr.ighton 12,248 10,636
Midland
'lonth-Eastern - 14,865 15,058
Caledonian
,41'eat Northern
'‘ncashire and Yorkshire
ICheater and Holyhead
I,%ancaster and Carlisle
morth London
North Stafford
0 6,570 6,443
oxford Worcester, and Wolverh 3,879 3,532
threwsbury and Chester
iVlnburgh and Gla,gova
giasigow and South-Western
"Tand Trunk of Canada
Great Western of Canada 14,298 11,831
',Northern of France
The following are the nominal prices of Foreign
gin
--eks : - Grenada Deferred Bonds, 6 7 ; Maxi-
-4,)", 211 1; Peruvian 41 per Cents., 76 78 ; ditto
' Per Cents., 54 6 ; Portuguese 3 per Cents.,
14 46 ; Russian 5 per Cents., 106 8 ; ditto 41 p©r
cents., 95 97; Spanish 3 per Cents., 42 1 ; ditto
'Defer ed, 24 I; ditto Certificates, si 6 ; ditto
Passive, 51 6.
Joint-Stock Bank Shares have been almost
11,.eglected, the only business done having been in
commercial of London, which improved about 103.,
being marked 28.

Miscellaneous Shares have also been very in-
active. Peninsular and Oriental Steam declined
to 68, being a fall of about 11., and Electric Tele-
Erraph were 94f, also a decline of 1/. to 1/. 105.
Canada Land Shares are at steady quotations.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(From the Offictal List.)
Iln•nnept. done.
sank Stock
3 per Cent. Reduced Annuities
New 3 per Cent. Annuities 93s 43i 41. 3i
Long Annuities, expire sth Jan. 1860 2i-
Ditto 30 Years, expire sth April, 1885 l7 15-16
India Bonds. £lOOO ............2 p
Ditto' under £lOOO ..... ..
1 d
Consols for Account
Exchequer Bills, 24d.
£lOOO.
£5OO
................. .
Ditto Bonds, 1858, 3i per Cent....., 9Bi t

PRICES OF FOREIGN FUNDS THIS DAY.
Brazilian Fonds, 6 per Cent.
bitto New, 1852, 46 per Cent.
Guatemala Bonds, 5 per cent 55
kexican 3 per Cent
_ Ditto Account ....
Peruvian Bonds 4.i per Cent 77f
Russian Bonds, 1822,
St., 5 per Cent —
Ditto, 46 per Cent. ........... q 6
‘
% ardinian Bonds, 5 per Cent.
Ditto Account
4
13,'"I'h Bonds, 3 per Cent ... .................
'''ltte New Deferred, 3 per Cent. ......... 24}
Spanish Committee Cert. of Coup. n9t fun 6 i
xurkith Bonds, 6 per cent
Ditto Account
Ditto Guaranteed, 4 per Cent.
Ditto Account
11'‘ ,dende on the above payable In Lender.
l'rench Routes, 46 per Cent. —
, Ditto 3 per Cent.
67f.
''''elgian, 26 per Cent., ex. 25 francs
,Ditto 4i per Cent.. ex. 25 francs
unteli Exchange, 26 per Cenl., 12 Guilders 651
Ditto 4 per Cent. Certificates
THREE 0' CL 0 Cir.

s~s

Consols (Money) —
Ditto Account (January S

Yesterday morning a fire occurred in the premises of
I,llr. S. Maw, surgical instrument-maker, No. 11, Al.
ersgate-street, City. The damage is estimated at
taveral thousand pounds.
Yesterday afternoon a fire happened in the extensive
works of Mr. Waller, engineer and barge builder, carry-
leng on business in Upper Fore-street, Lambeth, and
~tended to the river side. It was not extinguished until
great damage had been done.
IYesterday Lord Campbell announced the death of
Goodrich, one of the Masters of the Court of
Queen's Bench.

8t
5)
It.
St.

100
100
20
20