The Sun.
London, England, 1861-11-07 00:00:00

_MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.
ALTERATION IN THE RATE OF DISCOUNT.
A reduction of per cent. has been made to-day
in the minimum rate of discount at the Bank of
England, the quotation having been adjusted at 3
per cent. This alteration has created no surprise,
as it was fully expected, owing to the abundance
of money, and the low terms upon which it has bees
obtained in the general discount market. As first-
class bills can be negotiated at 21; per cent., it is
doubtful whether the directors will derive any im-
mediate benefit from the change they have just
made, but in the existing position of affairs a con-
tinuance of their previous regulations would have
been inconsistent with the policy they usually
adopt.
In the bullion department of the Bank of Eng-
land there were no transactions of importance.

The City of Manchester, which left yesterday for
New York, took out only £l,OOO in specie.
A circular has been issued by the directors of the
Oriental and General Marine Insurance Company,
stating that a sufficient amount of capital not hav-
ing been subscribed, they are unable to apply for a
settlement.

There was a considerable increase in the demand
for cotton in the Liverpool Cotton Market yester
day, and prices were firm. The sales were 15,000
bales.

The Market for American Securities during the
past week has shown increased depression. The
following remarks are from the circular of Mr. E.
F. Satterthwaite :—" Since our last we have had a
dull market for American Securities in London, and
the tone at the last shows no symptoms of improve-
ment. The correspondence between our Ambassa-
dor and Mr. Seward has caused an uneasy feeling,
and in the present state of uncertainty heavy
holders prefer to realise."

Owing to the change announced in the minimum
of the discount quotations, a proportionate reduc-
tion has been made in the allowance of interest for
deposits. The joint-stock banks now offer only 2
per cent., while the private firms will give 2 per cent.
for money on demand, and 21 per cent at 7 days notice.
The market for Public Securities to-day has been
♦ery buoyant, owing to the rise which took place
on the Paris Bourse yesterday, and the reduction
in the minimum rate of discount at the Bank of
England. Several speculative purchases having been
made. Consols advanced 931 1 for transfer, and
to 93: -1 for the sth pros., since then, however, a
further improvement of 1 per cent. has taken place,
the latest quotations being 931 1-, with demand for
money, and 92fr -1; ex div. for account. The New
Threes are firm at 911 the Reduced at 91 1;
Exchequer Bills, March, are at ss. prem; ditto,
Stine, 17s. to 205., being steady. Bank Stock is
flat at 2291 and 230; India ditto firm at 226; and
ditto 5 per Cents. improved to 1051
Very little alteration has taken place in Foreign
Securities, but a fair amount of business has been
recorded. Turkish 6 per Cents. are 791 ; ditto,
1858, flat, at 671 ; and ditto £lOO Bonds remain at
70; Mexican at 271 28 ; and Spanish at 50; ditto
passive have improved to 171 ; and ditto Certi-
ficates to 6-4-- 1 Venezuelan are steady at 221; but
Italian are heavy at 67t.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :-..-
1861. 1360.
Great Western
North-Western
South-Western
Brighton 18,910 19,357
Midland
South-Eastern
Great Northern 29,730 27,531
Lancashire and Yorkshire
Bristol and Exeter 6,170 6,179
North-Eastern
Manchester, Sheffield, and Lincoln
North British 6,768 6,4 f 6
Great Southern and Western of Ireland 8,546 8,178
Edinburgh and Glasgow
Glasgow and South-Western
Grand Trunk of Canada
Great 'Western of Canada
These returns are, in some instances, of a rather
more favourable character, although a falling off is
still observable in the lines traversing the manu-
facturing districts, owing to the partial suspension
of business operations. On the North-Western
there is a decrease of £1,528 ; on the Brighton of
.1:447 ; on the South-Eastern of £2,295 ; on the
Lancashire and Yorkshire of £1,781 ; and on the
North-Eastern of £2,139. The Great Western
shows, an increase of £634 ; the South-Western of
£1,026 ; the Midland of £1,061 ; the Great
Northern of £2,199; the Edinburgh and Glasgow of
£523 ; the Grand Trunk of Canada of £3,182 ; and
the Great Western of Canada of £712.

The operations in the Railway Share Market
to-day were of a very limited character. A slight
improvement, however, was apparent in the rates
realised for several of the principal lines. Eastern
counties advanced ss. ; Great Northern, 10s., and
Midlands, 15s. Great Western have declined 55.;
Lancashire and Yorkshire, 55., and South Eastern,
ss.

The Foreign and Colonial lines remained without
any material-variation. Great Luxembourg, Grand
Trunk of Canada, and Great Indian Peninsula re-
Ceded about -,1-3 to 1. _

For joint-stock bank and miscellaneous shares
the inquiries were of the most limited character.
London and Westminster declined 55., London and
County improved 10s. Canada Land brought 106;
Crystal Palace Stock, 35 to 351 ; and South Aus-
tralian Land, 331 to 331. The shares of the Roodee
iron Ship-building Company were nominally
quoted ;1,, to -1 prem.

BRITISH FUNDS--ONE O'CLOCK.
Bank Stock
3 per Cent. Reduced Annuities 9lkl
3 per Cent.; Consols Annuities
New 3 per Cent. Annuities.. 9l± 1 a
Annuities, 30 yrs, expire sth Jan., 1880 —
Ditto for 30 yrs, expire sth April, 1885 l5 9-16
India Stock
Ditto 5 per Cent.
Ditto Debentures, 4 per Cent., Oct., 1863
Ditto 1859
Consols for Account, Dec. 5
March. June,
Exchequer Bills, £l,OOO, 2d.... 5 17 20
Ditto £500
Ditto Small

FOREIGN FUNDS—ONE O'CLOCK.
Brazilian, 5 per Cent ....
Ditto 41 per Cent, 1852
Equador New Consolidated
15t
Mexican, 3 per Cent
Ditto Account
Portuguese 3 per Cent., 1853,
Spanish 3 per Cent
Ditto Passive
Spanish Cert. of Coup. not funded
Turkish 6 per Cent —
Ditto New Loan
Ditto Account
Ditto £lOO Bonds
Venezuelan 3 per Cent
991 9
Ditto Account - -'
Dividends on the above payable in London.
Dutch 21 per Cent., Exchange 12 Gull. 64±
10itto Cjrtiticatcs, 4 per Cent...
' Italian, 5 per Cent., 1861 67-
TWO O'CLOC ;; •
onsols Money
Ditto Account, Dec. 5 92i i ex div.