The Sun.
London, England, 1861-04-11 00:00:00

lIONEY MARKET AND CITY NEWS.

-

, o'CLooK.
ANOTHER DECLINE IN CITY Two
THE MINIMUM
RATE OF DISCOUNT.
A further reduction, viz., to 5 per cent., has
Just been effected in the minimum rate of discount
of the Bank of England. The tendency of affairs
during the last few days had fully prepared the
Public for the change, and now that the value of
money has returned to a comparatively moderate
Point there is reason to believe that a revival of
commercial activity will follow, notwith-
standing the unsettled state of political
affairs. Accommodation could be obtained
Yesterday afternoon at 58 per cent. in expectation
of the movement adopted to-day, and money being
Plentiful, while the demand is quiet, it is imagined
that first-class bills will, before many days have
elapsed, be negotiated on still lower terms.
About £56,000 in gold was sent into the Bank of
England yesterday.
In addition to the Alliance with £126,000, and
the Southampton with £86,000, which are now due,
the following vessels are stated to have left Aus-
tralia for England, viz., the Copenhagen with
4204,824, Empress of the Seas, £20,160; Owen
Glendower, £56,628 ; Kleber, £35,488 ; Kent,
£104,216; Marco Polo, £26,280; and the Peru,
pith £58,248.
The Ellora, which leaves to-morrow for Bombay,.
Wdl Convey £45,900 in gold and £100,635 in silver.
The suspension of two country banking firms
Messrs.
announced yesterday afternoon—viz., of
Pedder and Co., of the Old Bank, Preston,
established in 1776, and of Messrs. Barnes, Med-
1137,, and Ansell, of the Faringdon and Wantage
'4°l; Which had a fixed issue of £8,977.
Rather less animation prevailed in the Liver-
!°ol Cotton Market yesterday, but prices were
4'44 The sales were 10,000 bales.
The traffic receipts of the South Austrian and
Lombardo-Venetian Railway for the week ending
Ist inst., showed an increase of £2,254 compared
With last year.
The Market for Public Securities which improved
Yesterday afternoon, on the supposition that the
,tate of discount would be reduced, exhibited a fur-
Jirt upward tendency to-day, when the movement
actually took place, but sales have since been
effected, and a slight reaction has occurred. Con-
-s°lB for transfer have been 91i a and 918 a ; for the
ikeount 92 to 921, and 911 92. The New 3 per
ants. and the Reduced are firm at 901 ; but Bank
,
'teek has receded to 227 ; India ditto to 220 ; ditto
Per Cent. Rupee Paper to 931 ; and ditto 5/ per
Cent. to 99; ; Exchequer Bills have improved to
6s'
and Is. dis.
The dealings in Foreign Securities have been ex-
ceedingly restricted, and prices show little varia-
tion, Turkish 6 per Cents. are 701 71 ex. div. ; ditto
1858, 53/ 54 ; Mexican are flat at 231 ; but Danish
are steady at 823.
The last week's railway receipts, ascertained up
(0 this day, are in round figures as under :

1861. 1860.
!teat Western
k_-°rth-Western 83,478 81,968
rah-Western
u.'lighton 18,807 17,965
cl„ dland
oputh-Eastern
treat Lancashire
Northern 25,921 23,690
Bristol
and Yorkshire
North-Eastern
and Exeter 6,460 6,431
.
vreat Southern and Western, Ireland 8,610 6,955
nburgh and Glasgow 6,185 5,859
~'Lafigow and South-Western 8,323 7,913
'reit Western of Canada
These returns, in several instances, are of an
11118atisfactory character. On the Midland there
18a decrease of £1,356 ; on the South Eastern
of £866 ; on the Lancashire and Yorkshire of
P 44; and on the North Eastern of £2,634. The
„."Iraat Western shows an increase of .£623 ; the
4North Western of £1,510; the South Western of
"27; the Brighton of £842 ; the Great Northern
°' £2,231; the Edinburgh and Glasgow of £326;
and the Great Western of Canada of £1,731.
112 the Railway Share Market a more buoyant
tone has prevailed in consequence of the diminu-
ti°ll in the rate of discount. Great Western,
Lancashire and Yorkshire, North Western, North
Eastern (Berwick), and South Easterns have ira-
P,roved 55.; Eastern Counties and Midlands, 10s.;
"London and Blackwall, 15s. ; and Vale of Neath,
£1; East Anglian have declined ss.
The Foreign and Colonial undertakings have
teme.ined very inactive, without any change of
importance in prices. South Austrian and Lom-
bardo-Venetian realise 14; Grand Trunk of Canada,
191 20; Great Western of Canada 111 8 ; and Great
Indian Peninsular, 911.

Joint Stock Bank and Miscellaneous Shares
continue in limited request at previous rates. Bank
°f Australia have declined ss. ; London and West-
kinster 55., and Peninsular and Oriental Steam,
New Shares, ss.

B BRITISH FUNDS—CLOSING PRICES.
g Stock
Per Cent. Reduced Annuities 9O h
liPer Cent. Consols Annuities
eNV 3 per Cent. Annuities 9Ol 90
A —l-oluities, 30 yrs, expire 6th Jan., 1880 —
I bitto for 301yrs' expire sth April, 1885 l5l
ndia Stock
Ditto 6 per Cent
Ditto Enlaced Paper, 4 per Cent. —
Ditto 6 per Cent.
Ditto 51 per Cent
Ditto Debentures, 1858 95 6t
Ditto 1859
Ditto Bonds £l,OOO
Ditto under £1,000
Consols for:Account, May 9
Exchequer Bills, £l,OOO, 2d 2 1 5 die
D tto £SOO
Ditto Small
FOREIGN FUNDS—CLOSING PRICES.
Brazilian 6 per Cent .. 97/
, Ditto 41 per Cent.
-Hanish 3 per Cent., 1825
Mexican 3 per Cent 231 if
Russian 5 per Cent. 1822, £ St .. --
Ditto 3 par Cent. 1859....
Turkish 6 per Cent ..
Ditto Account
Ditto New Loan
Ditto Account
Ditto Guaranteed, 4 per Cent.
'Dividends on the above payable in London.
THREE O'CLOCK.

Consols, Money 91i i
Ditto Account 9li 2

STATUE OF HAVELOCK.

The statue of the late Sir HenrylHavelock erected
la Trafalgar-square was uncovered yesterday. The
artist, Mr. Behnes, has a deservedly high reputa-
tion ; but those who have formed their estimate of
his Powers from such a work as the statue of Sir
William Follett—one of the finest in Westminster
Abbey, and combining in a remarkable degree
Perfect naturalness with the dignity peculiar to
sculpture, will be forced to confess that even he is
tot destined to take away from the noblest site in
Europe the reproach of being the chosen home of
exquisite dulness and stilted mediocrity. His repre-
sentation of Havelock is one of those uninteresting
statues with which London is crowded, and of
Which we have nothing to say except that we never
look at them twice, never think of them, never care
to remember them. They are not always bad—
they often show great intelligence, taste, and in-
dustry—they have all some good points; but
generally, if they excite any positive feeling in our
minds, it is a wish that some happy chance may
relieve us of the greater part of our street statuary.
The worst fault of the Havelock statue is its un-
gainliness. The legs are too short for the body,
and the figure, raised upon a huge pedestal, seems
to any who takes a near view of it very topheavy.
Poor in itself it adds to the poverty of Trafalgar-
equare. We have now begun to give this place
the look of a einetery. We have been shutting
11p our graveyards and smoothing them over, and
it would seem as if the authorities wished to make
uP the loss by providing a counterfeit of Kensal-
green in the heart of the metropolis. In connexion
With the statue of Havelock Mr. Behnes has.
given us, not, indeed, the usual broken column of
the burying-grounds, but the next thing to it—a
tree cut down. Surely, there is some way of put-
ting a stop to these exhibitions of bad taste and
feeble imagination ? But one hope remains—
namely, that Behnes will not fail in the inscription.
The incessant blundering which has been perpe-
trated in the inscriptions upon the Guards' Memo-
rial compels us to put in a word in favour of good
English upon all such monuments. Oa the Guards'
Memorial we observe that the inscription finally
resolved upon is. " To the memory of 2,162 officers
and men, &c.," from which it may be interred
either that the men were all officers, or that the
officers were not men. This, too, after all the
criticisms to which the previous inscriptions were
subjected !--7inies.