The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-21
Money Market.

fgrsm the London Times (Cty Artcle), May 81
received upon by the Bank Court to day. in addition
70 that e like amount whchtook place last Thursday The
charge therefore, is now four and half per cent
the public There lie no excessive pressure from any
immediate wants on the part Of the mercantile body
contingencies. For two or three months past Il has
beer plain that the enormous outlay consequent on
absorption Of specie that must cause a continued
increase in the value OF capital, and few, therefore,
mcncemen Of hotes has slightly accelerated the atera
ucn The drein Of gold for the continent may for
some time, but cannot extend beyond certain stage
There are but three ways in which foreigners can ges
2. prasens hold their account. 2 By .ppeang for
ss ssss
ton Tor some weeks, and will soon end the second
would be suicidni sacriace and could lead for us
TO nothing but proft Hence there ground for par
expenditure for defensive purposes is likely to pro.
duce greater effect. but the extent TO which it viii be
q 10 sSns
very great We have the light of recent experience TO
aid our coDjecuSee the entire question During the
Two months preceding the declaration Of war against Rus
STA in 1854 the bank los: about 81 600 e bullion In
the aucceedng two months they lost additional sum OF
ana from that date up nearly end of the
there vas no fur thsr serious reduction At the
promptly raised TO OF CONT and IL the bank hence
forth pursue course equ nlly vigsn there ovory
reason for confidence in the commercial stability Of the
country.
This has ben settling ny in the EDglisf funds and
the whole !! has passed well. No failures have been
declared, delay being anted in all of doubt to
the end Of the week. Cor sols opened without alteration
the first price being 1914 % co. There then tendency
toimprovement, and for they touched 90 but
the market again became dull towards the close and the
last bargains were at 89 to 90 No intelligence was re-
ceved Of the war; and thu only quotation from Paris was
dated little before the OF enng Of the Bourse, and show
ed decline Of an eighth.
All the joint bank have raised their allowance on
deposits per cent? the rate being now az The London
and Westminster however, pay only az sums below
cent for money demand, go with three days notice
and per cent with seven days notice.
The Bank Of England will now make advances to their
customers, on six months bills, at 5X per cent
From the London News (City Article), May ~
the funds Yesterday advanced per cent, and closed
past The settlement has been completed with the dea,
ration Of only one failure and that oftrvia amount ne
the panc though the effect upon quotations will mo-
yet paes away. In the discount department of the
Bank Of England yesterday the business of an or.
Lombard street active demand was Experienced the
best bills, having month to run, were taken at
sh per cent two months bills Ave per cent and
bank yesterday Yves EGO ooO The f6i 900 by the Austra
from Geeong was also purchased for the Continent The
fall in the continental exchanges has been checked The
rate for bile on Holland, Belgium and Hamburg were
slightly more favorable for this country The Quotations
paper on Austria and Genoa were merely nominal
The payments on the Indian loan have been promptly
coli $751; Of which 1857 9S1 has been actually paid
GO that the sum In respect Of which default made only
$4,000 The loan has been taken by SOC subscrieu Of
whom only 25 hsve proved defauters
BANK OF ENGLAND RETURNS
Fos week ending April 70, For week ending May 5,
1859 1862
(ofacial Report.) (By telegraph.)
ssUE pxPARTAKx1. ISSUE pEpIRrdENr
Dr. Dr.
Notes issued g '4aSa7o Notes issued asl ,o4s,0ss
Covenant debt ell ols 100 Governm deht 81, o,s 100