New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-07-09

The private letters by the steamer are encouraging
rom FL gland and France but from the Continent gen
orally not so cheerful before The printed accounts
speak of an active money market.
The London Shaping and Mercantile Gazette re-
marks:
The money market is tighter, and y cent is the
general rate out of doors. The demand 10 more ac-
I've and the supply less abundant. The hope of a
further reduction IN the Bank rate, therefore, dmn-
ishes.
The market for the English funds remains inactive
business being dull and prices unaltered C9nsos are
SO. a4 for the account; Reduced Three Fer cents
S2s SO; and the New Three Per Gents the same; Ex
GA ~ ~
The correspondent of The Manchester Guardian
writes from London on the evening of the Doth, as
follows:
The demand for discounts to-day has been active,
and the supply of money having become suddenly
scarce the raies rule particularly mr. n Notnng mas
been done to-day below the Bank rate. We have
here another illustration of the varying character OF
the market.
The VIII. 4 trade to-day not very brisk, but no
alteration in value from Monday last. Mon lays
prices fully IN antaned for Hour, but not much busi-
ness doing.
There has been pause to-day in the produce mar
kettle high prices demanded checking consumption.
The Hastings Bank of Messrs. Smith, Hlder ~ Go.
The money market closes very tight, with the rates
fully up TO and rather above the Bank minimum
Messrs Stoterfoht, Frost g. Co., in their circular,
remark:
The reduction inthe rate of discount adopted last
week has given more rmness to business but at TINS
seas,p of the year we cannot look for much activity,
unless il were caused by speculation, and for sucn
purpose the value of money is not sufficiently mode-
rate"
The subject of the reduction of the rate of discount
by the Bank Of France is discussed in the letter of our
he
London DAILY Ners remarks as follows:
AT a late hour this afternoon it was announced by
telegraph from Paris that the Bank Of France has
lowered the minimum rate OF discount Tor conmerca
bills from y cent at which it has stood since the
Sept 25 1856 TO 81 y ceIt The rate for advances
upon stock and shares remains, however, at cent
This decision has been received with disappointment
by the specula. rs, and has lea 10 uecioea ian on
the Bourse; nevertheless most persons OF Judgment
will be inclined to rejoice at finding that the new Gov
ernor NJ de Germiny, has the courage to lnaugurate
his accession office by thus dsregad dug interested
repr, sensations and camor. In some quarters, now
ever il is whispered that the Council in reducing the
rate nj ALL has been subjected to influence from high
quarter. The Bank of France has rarely announced
an alteration of less than p cent in ts rates, and
the adoption Of species of half measure at the present
moment is considered TO give some color to the sus
pician that political object is in view.
In relation to American Stocks, Mr.. Satterthwalte
sys:
Money continues to work easier aud the position Of the Bank
Of Easad becomes rOnseI on the STU. tx
--O's ~-,''N~
scale. Consois slose at 9Si at for Account.
American Secuties have beeu neglected. The half years
exhibit New Yock and Erie Ia. caused alarm and dis
trust The necessity & by the Michigan southern o. creating
LARGE preference Stock high Of Interest while sf
Scent statement presented by the Board Of the sctss vs
ina Road has added to the want Of confidence among
Enelish investors q,
Germany and other continental markets whsIe good
many been negotiated, the feeling
tow ard American Securities is very unfavoIabe.
Parties financial London Paris
aud other commercial cente know well that the doinss OF
operators either for fal very little permanent
eject Security and ook far beyond the market of Wall
the present depression in the leading Railroad Secu
rifles.