The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-02
The London Money Market.


The Bank Directors separated to-day without making
any alteration In their for discount Tho breaking
up OF the weekly court was awaited with some anxiety
because diversity OF feeling existed upon the question
Owing to the attention which Is now paid TO the probable
in the value Of money, the prices OF securi
tes.nre readily influenced, and prevou5y.to the fact
being announced cousos and The other principal descrp
tons manifested partial unseadiness Throughout the
remainder OF business hours quetude existed but in
of heavness took place when II reported That
values lower from Paris through the expectation
that the Bank directors will be compelled shortly TO 20
higher Consols for money uctuated between 81 and
u and for the account between ok and * the four
clock prices being 9l buyers, for money, and 9is TO
In discount circles there was fair inquiry for money
previous rates. and the lowest quotation Tor first class
short dated oL remains % per cent, from tha point
and four and SIX months paper must yet DO made
question Of negotiation Long dated acceptnces
freely taken In some channels but they are avoided In
others because many entertain serious doubts OF the
prospects the future. Tho applications at the Bank
slightly increased the demand ia every respect being
sustained.
It's stl said that the pressure on the resources Of ac
Park OF France severe and that the drain OF gold has
experienced no dimnutlon. The anticipation in Paris
appears DO that the rate OF discount will be again
Tacd by the Bank Of England and the Bank Of France
VIII them OF course, haveto follow In tho same steps
adopt some exceptional proceeding The state OF uncer
tanty which things remain most prejudcal TO our
trading interests and the complaints from the provinces
numerous and well founded
The rate fer advances government securities ranges
from 81 10 per cent for short periods and for February
o. the average quotations There is rather less
s,tngency In the terms tor this kind OF accommodation
tince the conclusion of the half monthly accounts.
1he unsettled state Of the money market, with tho
diminished traffic Of the leading lines, has at
length generally affected railway shares. The receipts OF
the Midland have gone down and show decline, aud an
opinion now seems 10 prevail that trade will be unfavor
ably affected by the difficulties associated with the ques
ton of American disunion.
sum Of Gs2 900 In sovereigns was Withdrawn from
the Bank and Ii Is believed they have been taken for
shipment to New York. This ciux seems now 10 be as
Stunning large proportions and IL purchases Of bullion are
70 he resumed for Francohc effect viii prove extremely
emil ing he
the quotation being only 81 I'D per or
No variation Of importance has taken place In American
securities, but the prices In some cases were rather
stronger towards the end Of the afternoon Illinois Con
tra 100 dollar shares negotiated at 800 aud 80 dis
COUNT eNng on 81 10 20 discount The paid up shares
wore dealt ~ AZ 0s being finally quoted % TO o.. The
zones were taken az 81 and S. being Ultimately marked
- 70 W New York and Erie assente1 shares doa
w ~ ~ ~ 80 and 49, closing 80 49, Grand Trunk
d tsuaua securities we're supported at an advance Of
nearly pr cent the original stock having been taken
at ~ = and beng last quotei 81 to 22I The nrst
preference bonds were dealt IN AZ ~ ami closed 10 tory
Great Western II Canada found purchasers At to and
finally marked 1914 to y,