The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-16

an increase OF 13,OOO
BY the arrival Of the Arago this morning we
have London papers to the morning of the 1st inst
The London Times of that day thus notices the
advance of the rate of discount by the Bank of
England and its effect upon the Market oa
A, the commencement OF business this morning (Jan.
3) ii evident that, II the bank should hesitate till
Thursday making the further anticipated rise
rate or discount the commercial public would be found 10
have already fully supplied themselves Ut the low rate OF
per cent The conviction OF another advance being I'M
universal, and the only question whether
would be 70 81 or per Even point there
scarcely any doubt and hence announcement at
little after eleven O'Clock, that the Governors had
solved not 70 wait for the weekly court but adopt
immediate movement OF per cent created surprise.
The rate therefore, H per cent and OF course there
can be no certainty, until week or two shall have
elapsed, whether that will prove sufficient to check the
in many quarters the belief il that per cent will
yet be touched At the same time however it is plain
that the pressure Is likely 10 be more sharp than per
manent. It0
equally clear that az the rage for Indian invest
Den,s shall have been brought within limit all diff.
Guilty Will gradually cease As the Rupee stocks have al
ready fallen about per from their highest point
ie probable that such remttauces Of them may
be made from Calcutta aud Bombay, in ignorance
Of that fact Will result In loss and that, nsequenty,
when the news Of the present state of markets
ot al thoee Cites there will be cessation Of operations
al all events for some period Meanwhile the pressure
here win hasten the resumption OF specie reuusnces
from New York, and likewise the caucn Of
aap exporters cause goods 70 be sent 10 r-eere1se
10 nearer markets. Ga the whole therefore, TIE osson
and prospects OF the country remain heAsnfd ana chs
conviction seemed 70 have considerable encc
limiting the tendency 70 depression iE TIE Stock Fvcsge
The English funds opened heavily another dscIine
AZ eighth from The Certainty ,has the Bank would forth
with make new movement Tie s5verss quotations Of
last evening from the parts Bcsrss wsye nsrapsnd e
disposition to heAvinees- Cun$ols were Arss Groted
e3X TO 81, but rallied IN the afternoon " %
", and, after regular hour. went 70 A4
"a. In the Stock Exchange money IN
extraordinary demand, rAr1y " consequence OF
the foreign settlement, AND from N spor free
ly paid for advances On government securities, such al
vance, not berg cetalnxoie .; shs period The Bark Of
England Tho ave per cent Sape loan quoted ~ 4
a 97x, and The ave and hsf per cents losh loaA,
fall OF about n haif per cent since yesterday.
The demand Tor discount 81 The Bark - day ., the
creased ste WIS extremely active Although not quito 60
the excessive extent of yesterday In open market
scarcely anything could be dcuo under the hank
mum, and for bills OF three to mouls per
demanded
The discount establishments have raised their allowance
op deposits 10 per cert for money CALL and 81 with
few days NOTICE The Joint stock banks have also
fomly adopted the higher rate Of per the London
ana Westminster, however, allowing only on sums be-
low f5Co
The lag. price from Parts this evening was 67f soc
showing another decline Of an eighth.
In the foreign exchanges this afternoon there was
taicns for Vienna and Trieste shox slight recovery in
the Austrian currency from the extreme depreciation
has lately experienced.
An nstsncnt Of per cen. falls due the Canadian
loan OF u 500 900 to The amount paid In ii
about fsoo, COO
The withdrawal OF bar gold from the Bank today
ESQ Geo.
The market for American securities was dull.
Tie folio wing are the latest uuotations:--