The Sun.
London, England, 1861-09-19 00:00:00

MONEY M.4RA'F:7' LITY NEWs.

,

The directors of the Bank of England have an-
nounced a further decline in the minimum rate of
discount—viz.: to 31 per cent. This important
measure was generally anticipated in consequence
of the easiness and abundance of money, the large
influx of gold, and the moderate character of the
demands for commercial purposes. As accommo-
dation for some days past has been granted on first
class bills as low as 31 per cent. in the open market,
the continuance of the official quotation at 4 per
cent. was altogether improbable, although the
impression prevailed in some quarters that the
authorities might have defeTred the alteration in
consequence of the decline in the Continental ex-
changes, and the pr©spec►t of the money market in
France being unfavourably influenced by the
exportation of gold for the purchase of grain to
make up for the deficiency in the harvest.
Only a small amount of gold, viz., £7,000, was
taken into the Bank of England yesterday.
The Edinburgh, which left yesterday for New
York, took out £l,OOO in specie.
The Indus, for East India and China to-morrow,
convey £73,704, of which £14,000 is in gold,
and the remainder in silver.

An extensive business was transacted in the
Liverpool Cotton Market yesterday, and American
descriptions realised a further advance of Id. per lb:
The sales amounted to 30,000 bales.
The reduction in the rate of discount has not
led to any fluctuation in the English Stock Market,
as it was generally anticipated by the specula-
tors. Consols, however, have continued firm, the
latest prices being 931 t- for money, and 931
for the account. The transactions have been very
dull, and the market consequently remains in an
inactive state. The New Threes are firm at 91/ ir-;
the Reduced, at 91-2. a ; Exchequer Bills, March,
remain at 2s. dis. to 2s. prem. ; ditto, June, at 4s.
prem. ; India 5 per Cent. Loan is 1031 i; and the
New Scrip, 104.

In the Foreign Market business has been mode-
rately active, and prices, in some instances, show
an improvement. Turkish 6 per Cents, are 831
84; ditto 1858, 68/ 69/ ; ditto £lOO Bonds are 704 ;
Sardinian have advanced to 80f 81; Brazilian 41
per Cents. to 91; Chilian 42 per Cents. to 83/ 8 ;
and Dutch 2f per Cents. to 64/ ; Venezuelan are
Sat at 20 / ; and Mexican at 23/
The market for American Securities during the
past week has shown symptoms of improvement.
The following remarks are from the circular pub-
lished by Mr. E. F. Satterthwaite :—" The market
in London for American Securities has improved
considerably during the last few days, consequent
upon the higher prices received from New York ;
in fact prices here depend at present entirely on
those ruling in America. Considerable amounts
of Stock and Bonds have been brouht forward
for sale, the chief part of which has been taken
for shipment to America. Illinois Shares close
steady at 38/ to 371. and Erie Shares at 23/ to /."
The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1861. 1860.
Great Western
North-Western
South-Western
Brighton 21,047 22,005
Midland
South-Eastern
Great Northern 25,050 31,406
Lancashire and Yorkshire
Bristol and Exeter 7,175 7,317
North-Eastern .
Manchester, Sheffield, and Lincoln 15,318 17,032
South Wales
Great Southern and Western, Ireland 8,947 8,413
Edinburgh and Glasgow 7,260 7,232
Glasgow and South Western 8,339 8,234
Grand Trunk of Canada
Great Western of Canada
These returns show a further falling off in the
receipts of most of the principal lines, particularly
those in the manufacturing districts. On the
South-Western there is a decrease of £1,775 ; on
the Brighton of £958 ; on the Midland of £2,587 ;
on the South-Eastern of £1,946; on the Great
Northern of £2,801; on the Lancashire and York-
shire of £2,083; the Manchester, Sheffield, and
Lincoln of £1,714 ; the Grand Trunk of Canada
of £1,741 ; and the Great Wcstern of Canada of
£1,387. On the Great Western, however, there
is an increase of £1,664, and on the North-
Western of £l,OOl.
The dealings in the Railway Share Market were
of a rather limited character ; a slight improve-
ment however, has taken place in prices. Lan-
cashire and Yorkshire and North Eastern (Ber-
wick), have improved ss. ; Eastern Counties and
Caledonian, 10s. ; and Great Westerns, 15s. South
Westerns, however, declined ss.

The Foreign and Colonial lines have also been
a shade firmer. South Austrian and Lombardo-
Venetian brought 171 ; Recife and San Francisco,
14/; Bahia and San Francisco, 131 ; Grand
Trunk of Canada have improved to 20/ ; and East
Indian have receded to 101,1..

Joint-Stock Bank and Miscellaneous Shares con-
tinued inactive, without any material alteration in
prices.

BRITISH FUNDS—CLOSING PRICES.
3-per Cent. Reduced Annuities 9la f
3 per Cent. Consols Annuities
New 3 per Cent. Annuities
Annuities, 30 yrs, expire sth Jan., 1880 —
Ditto for 30 yrs, expire sth April, 1885 , 15i i
India Stock
..F. 221
Ditto 5 per Cent.
Ditto Loan ScTip, 5 per cent
Ditto Enlaced Paper, 4 per Cent —
Ditto 5 per Cent. 961
Ditto 51 per Cent
.. 10ii 1
~,, Co,, I . tor Account, Oct. 10
India Stock for Account, 5 per Cent .... 101 k
March. June.
Exchequer Bills, £l,OOO, 2d 2pm 2 dis 4pm 6
I}lto £5OO ..
Ditto Small

FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent. —
Ditto 41 per Cent., 1860 .. 91
Chilian 6 per Cent
Ditto 4.3/4 per Cent.
Mexican 3 per Cent ..
Ditto Account
New Grenada Active, 31 per Cent.
Peruvian 43/4 per Cent
Ditto (Uribarren), 43/4 per Cent.
Ditto 3 per Cent —
Ditto Account
Portuguese 3 per Cent., 1853 . —
Ditto Account
Sardinian 5 per Cent.
Ditto Account
Turkish 6 per Cent ..
Ditto Account
Ditto New Loan
Ditto Account
Ditto £lOO Bonds
Venezuelan 3 per Cent
Ditto Account - 20
Dividends on the above payable in London.
Dutch 2f per Cent., Exchange 12 Gill
Peruvian Dollar Routh, 44, per Ct. Ex. 4s 9O/
THREE O'CLOCK.
Consols Money .. .
Ditto ..
Account on 4

ACCIDENT IN A BELFRY.—On Saturday evening
while four men were employed in placing a new bell in the
belfry of the established church at Pathhead, under the
superintendence of the Rev. Mr. Haxton, the tackle they
were using gave way, and the bell, which weighs lOcwt.,
fell with a fearful crash, carrying away the floor of the
belfry, on which Mr. Haxton was standing, and bearing
him down to the gallery, eight feet under. The men em-
ployed with the tackle were standing on the gallery floor
at the time, and were all more or less injured, but, fortu-
nately, no one happened to be immediately under the bell,
which dashed through everything until it got to the
ground. The injuries sustained by the parties were as fol-
slightly bruised about the ankle ;
lows :—Rev. Mr. Haxton,
William Samson, severely cut about the head by a part of
the flooring ; Andrew Scott also cut about the head ; John
Hume, left leg broken, and severely shattered at the ankle,
cut on the head, and badly bruised about the chest ; Mr.
John Mitchell, engineer, who was on the top of the belfrey
at the time of the accident, while sliding down a rope,
missed his hold, and falling several feet had one of his legs
severely bruised. Drs. Stoddart and Gray were soon in
attendance, and the injured persons are now progressing
favourably.—Edinburgh Courant.

ART IN THEORY AND PRACTICE.—Mr. F. Cross-
ley, M.P., in the course of his speech at the distribution of
prizes at the Halifax School of Art last week, demurred to
some of the " dogmas " taught by the South Kensington
Department of Science and Art. He told of having paid a
visit to the department there, and seeing some of the carpets
made by the firm with which he was connected exposed to
view, and portions of a pattern marked out, as "This is
false art," " This scroll too big," &c. Yet the fact was that
more p:cces had been made from that pattern than perhaps
any other. It was a favourite with the French, the Ameri-
cans, and with the English manufacturers. He was afraid
that if the South Kensington department had to provide
patterns for the carpet trade, instead of there being about
4,000 persons employed at Dean Clough Mills, there would
not be more than 400,