The Sun.
London, England, 1859-06-02 00:00:00

_MONEY MA

CITY NEW

CITY, Two o'CLocK.
It is generally expected in monetary circles that
the deliberations of the Bank Court, which will
assemble at two o'clock to-day, will terminate in
the announcement of a reduction in the minimum
rate of discount. The position and prospects of
the market, it is contended, demand some
measure of relaxation. The present quota-
tion---viz.; 42 per cent., is 131,- to lti per cent.
above the charge made in Lombard-street, and by
the joint 'stock banks, for the negotiation of first
class paper, and in consequence of restricted trade
and speculation, it is difficult to conceive how any
sudden recurrence of pressure could be produced.
The directors, therefore, have nothing to fear from
an extension of monetary facilities, especially as
the amount of bullion is steadily maintained in
spite of the continuous demand for gold on continen-
tal account.

There were no bullion operations at the Bank of
England yesterday. _ _ _

The Steamer Magdalena, which leaves to-day for
the West Indies, will take out £1,650 in silver.
Silver is not quite so firm, and the demand is
limited, bars being quoted at 58,.24d. per ounce
standard.

In the Liverpool Cotton Market yesterday a large
amount of business was transacted, and prices of

American advanced -} per lb. The sales amounted
to 20,000 bales. The Railway Share Market closed
with a very active appearance, and quotations
exhibited a further improvement.
The last week's railway receipts, ascertained up
to this day, are in round figures as under :-
1859. 1858.
Great Western £31,940 30,029
North-Western
South Western
Brighton
-Midland
South-Eastern
'Great Northern' 24,216 23,782
Lancashire and Yorkshire
Bristol and Exeter
North Eastern
East Lancashire 6,890 8,134
Manchester, Sheffield, and Lincoln
North Stafford
Oxford, Worcester, and Wolverhampton 4,603 4,921
Vest Hartlepool
Edinburgh and Glasgow 6,206 5,616
Glasgow and South-Western
Grand Trunk of Canada
Great Western of Canada 6,992 8,634

The above traffic returns show some apparent
unfavourable features, but it is in a great measure
accounted for by the lateness of the Whitsuntide
holidays this year compared with last. The decline
on the North Western amounts to £3,899, on the

South Western to £324, on the Brighton to £2,020,
on the South Eastern to £7lO, on the Lancashire
and Yorkshire to £5,458, on the North Eastern to
£2,596, on the Manchester, Sheffield, and Lincoln,
to £2,032, on the Grand Trunk of Canada to £750,
and on the Great Western of Canada to £1,642
On the Great Western there is an improvement of
£1,911, on the Midland of £717, on the Great
Northern of £434, and on the Edinburgh and
Glasgow of £690.
The half-yearly meeting of the Peninsular and
Oriental Steam Navigation Company took place
to-day, at which a report was presented giving the
actual position of the company, the general accounts
being made up only at the annual meetings. The
operations of the six months have been carried on
'with success and regularity; and the prospect held
out at a former meeting of a revival of two impor-
tant sources of revenue, namely, the silk trade from
China, and the specie shipments to that country and
India, have been partly realised. A drawback to
this existed in the increased price paid for coal at
all the company's stations, of nearly 20s. a ton, on
the preceding contract. Looking to the result of
the last six months, and to the prospects of the
year, the directors felt warranted in recommending
that the usual dividend of 31 per cent., with an
additional payment of 1 per cent , be now declared
for the half-year ending March 31, and that
Payment of the same be made on and after the
24th of June. The report was unanimously
adopted.

A fair amount of business has been transacted
to-day in the market for public securities, but
although the quotations opened with renewed firm-
ness, a decline of 1 per cent. has since taken place. At
one time the market was very depressed, but it is now
filmier, although the prices are still rather higher.
Consols have been 931 I for money and account ;
they have since been 931 14, and they are now 93,1
for transfer and 931 1 for the 7th inst. A smaller
business has been transacted for money. The New
Threes and the Reduced are steady at 921 &; Bank
Stock at 220 to 222 ; India Loan Debentures at
941 1; and Exchequer Bills at 17s. to 21s. prem.
The New 21 per Cents. have improved to 781 ; and
Long Annuities are marked 11-16. The New
India Scrip is rather flat, at 12 to 11 discount,
being marked 931 1.
Business in the Foreign Stock Market, is less
active, and in some instances prices are not quite
so firm. Turkish 6 per Cents. are 67 to 69 ; ditto
New, 57 to 59 ; and the 4 per Cents. improved to
1011 to 1021 ; and Russian 4 per Cents., to 941.
Mexican has receded to 171 ; and Spanish De-
ferred, to 281; Venezuelan 5 per Cents. are steady
at ; and ditto Deferred, at 16 17.
The Railway Share Market has exhibited a
alight depression, a downward movement of about
to 1 per cent. showing itself in the rates of most
of the principal lines. Caledonian, Great Western,
laneashire, and Yorkshire, North Western and
North Eastern (York), have each declined £1;
Eastern Counties, Great Northern and Midland,
108. ; and North Stafford and South Eastern, ss. ;
°Guth. Western, and Manchester, Sheffield, and
Lincoln have realised former values.
In the Foreign Market prices have also slightly
given way. Lombardo-Venetian Old Shares have
declined to 51, and the New to 51, 51, the latest
quotations being 51 to 51, and 51 to s:respectively.
Dutch Rhenish are at 81, Great Luxembourg 51 to
5, and Pernambuco 81.
The Colonial lines have sympathised with the
reaction in the English Market. Grand Trunk of
Canada have seceded to 351 35. East Indian to 99
100. Great Indian Peninsula New Shares to 3
and 31. and Ceylon Guaranteed to 6.
Joint-Stock Bank and Miscellaneous Shares are
at 'slow rates. Union of Australia
haveim-
proved £1 ; London Joint Stock, 55., and Bank of
Egypt, ss. ; Peninsula and Oriental Steam have
declined 10s., and Canada Land were dealt in at
112.

CITY, HALF-PAST Two.
ALTERATION IN THE BANK RATE OF
DISCOUNT.

The Bank Directors have just reduced the
minimum rate of discount from 41 to 31 per cent.
Advances in stock will be made at the same rate
during the shutting of the transfer books.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.

Rank Stock
1 per Cent. Reduced Annuities 92k $
2 per Cent. Consols Annuities
New 3 per Cent. Annuities
New 21 per Cent. Annuities
Long Annuities, expire sth Jan., 1860 1146
India Stock
Ditto Debentures
Ditto Loan Scrip
Ditto Bonds, £l,OOO
Ditto under £l,OOO
C onsols for Account (June 7) 93 aiii
March. June.
t'xchequer Bills, £1 000, lfd 2l 17 I
Ditto £5OO
PRICES OF FOREIGN FUNDS AT ONE O'CLO,CK.
Ilexioan 3 per Cent.
poDitto Account
J-1.. rtuguese, 1853, 3 per Cent.
ussian, 1822, £ St., 5 per Cent —
Ditto 41 per Cent.
?Spanish 3 per Cent
Ditto New Deferred, 3 per Cent.
Turkish
Account—
28k
6 per Cent
Ditto Account
Ditto New Loan
581 7
Ditto Guaranteed, 4 per Cent.
% enezuelan 5 per Cent.
Ditto Account
99
Ditto Deferred 2 per Cent. 17216'
Dividends on the above payable in London.

TWO O'CLOCK.
Consols, Money o3s
Consols for Account, June 7

thaA. Vienna letter in the Silesian Gazette states
„,„t,the Austrian military contingent of 1860 will be called
Y • anticipation in the month of August next, and bo
"' ''
immediately incorporated with the army on active service.
-,ttlperor of Russia has ordered Court mourn.
1.4 g for madays for the late Archduke John of Austria.