12 AUGUST 1854, Page 10


The recent reduction in the rate of discount by the Bank of England has not enhanced the value of Government Securities this week, nor alleviated a great pressure for money that has existed both on the Stock Exchange and out of doors. This has been augmented through the payment on Tuesday of a third instalment of 25 per cent on the last series of Exchequer Bonds, and arrangements by some of the leading Railway Companies in connexion with the forthcoming dividends, occasioning a large supply of Stock. Con- sols were done on Wednesday as low as 92g. Yesterday, the Funds were favourably influenced, first by the announcement on Wednesday evening by the Chancellor of the Exchequer, that the finances for the year, as at pre- Bent arranged, will probably be sufficient to meet all demands: later in the day, a further tone was imparted through the intelligence of the Czar's intimation to Austria that he will quit the Turkish Principali- ties ; Consols for Money recovered to 934 4, at which they closed, with great buoyancy. In Paris and Vienna prices have shown a gradual improvement. The Corn-market has been firm. The remittances from New York on Mon- day amounted to 180,0001., and the accounts were less discouraging : the Stock Market had slightly rallied, and the Banks were discounting more freely ; specie having increased, notwithstanding the shipments to England. The accounts from China being still unfavourable regarding the exchanges, the shipments of silver from this country will continue.

Today the Funds have been higher, and Console for Money have touched 934: they leave off at 934 1, and 931 # for Account. Bank Stook and Ex- chequer Bills have not altered, but India Stock is 1 better.

Foreign Securities have been well supported, and an improvement of 1 has occurred in Peruvian Four-and-a-half, and Russian Five and Four-and' a-half per Cents. Spanish Three per Cents have been done at 40; Ditto Deferred, 194 ; Certificates, 51 : they are now rather lower. A letter from Lord Howden, the British Minister at Madrid, has been received by the Chairman of the Committee of Spanish Bondholders, consequent on the new Ministry opening to the holders of Coupons confiscated in 1851 a fair Pro' pect of redress. After promising his assistance, Lord Howden observes--,- " I cannot allow myself to believe for an instant, that a Government hte has come into power with the device of morality inscribed on its banner will allow so scandalous a wrong to be unredreesed as the confiscation of the Coupons." It is believed that a small Turkish loan will be raised in this country, and that the preliminaries have been arranged with Baron Gold amid, and Messrs. Palmer, Mackillop, and Co. Railways were firm on Monday, but they declined on the two subsequePt. days under the influence of Consols; and on Wednesday London and liortn western receded to 104 1. Yesterday there was a recovery of 105. in several cased and the difference in some of the leading lines compared with last Saturday's was to the following extent. Increase—Shrewsbury and Bir- whIgham, 21. ; Scottish Central, U. ; Caledonian, North British, South. Eastern, and York and North Midland, 10s. Decrease—Great Western, 4/. 108. ; Bristol and Exeter, 3/. ; London, Brighton, and South Coast, 1/. ; London and North-Western, 15s. ; Great Northern, 10s. In Foreign Shares, the improvement has been—Northern of France, 158. ; Paris and Lyons, and Rouen and Havre, 108. ; Paris and Strasbourg, 2s. 6d. Paris and Rouen has declined 11., and Sambre and Meuse 5s. Today the English lines are 10s. to 1/. better in several cases; Great Western has improved 31. Foreign Shares are rather stronger. The London and North-Western Company will pay a dividend at the rate of 5 per cent, leaving a surplus of 41,200/.


The English Funds are steady this morning at yesterday's prices ; Consols are 94 for Money and 931 # for Account. Exchequer Bills 1 discount to 2 premium. The bullion return by the Bank of England shows a decrease of 184,8141. In Foreign Stocks there is nothing new. The particulars re- specting the Turkish loan are expected to be published on Monday ; it will be for 2,000,0001. sterling, in a 6 per cent stock at 80. In Railways, the only bargains at present recorded are—Manchester, Sheffield, and Lincoln, 25; Midland, Birmingham, and Derby, 39 ; Caledonian 101. Preference, 96. SATURDAY, TWO O'CLOCK.

The English Funds have been rather lower since the morning, but have recovered. Console, after being done at 93#, leave off at 931 for Money and 931 I for Account. There would probably have been more fluctuations had the contents of the Queen's Speech been known within official hours. Exchequer Bills 2 discount to 2 premium. In Foreign Stocks there has been no change. Spanish Passive (Converted) has been done at 4, and Certificates at 5i 5. Railways have been rather weaker : these are the latest transactions— Caledonian, 63# - East Anglian, 171; Eastern Counties, 13 ; East Lan- cashire, 67; Edinburgh and Glasgow, 60; Great Northern, 87; Great West- ern, 721; Lancashire and Yorkshire, 69; London, Tilbury, and Southend, 101 ; London, Brighton, and South Coast, 1061; London and North-West- ern, 1041; London and South-Western, 85 ; Manchester, Sheffield, and Lincolnshire, 24# ; Midland, 6n; Midland, Birmingham, and Derby, 39 ; North British, 34# ; North Staffordshire, 14 ; South-Eastern, 651 ; York, Newcastle, and Berwick, 751 ; Ditto Extension, 131 ; York and North Midland, 57# ; London and Greenwich Preference, 231i Wilts and Somerset, 92; Caledonian, 96 ; York, Newcastle, and Berwick, 4 per Cent Preference, 94; Luxembourg, 3} ; Northern of France, 331 ; Paris and Orleans, 47; Sambre and Meuse, 8. Mines—Brazilian Imperial St. John del Rey, 271; Cobre Copper, 47. Banks—Oriental Bank Corporation, 471; Union of London, 24. Miscellaneoue—Crystal Palace, 4; Peel River Land and Mineral, 41; Scottish Australasian Investment, 21. 3 per Cent Consols 9301 Danish 3 per Cents 75 80 Ditto for Account 93 Dutch 21 per Cents 60 2 3 per Cent Reduced 93 Ditto 4 per Cents 92 3 at per Cents 94 Mexican 3 per Cents 241 Long Annuities 4 Peruvian 41 per Cents 68 70 Bank Stock 2 11 Ditto 3 per Cents 51 3 Exchequer Bills 2 dig. 2 pm. Portuguese 4 per Cents 39 41 India Stock 224 8 Russian 5 per Cents 98 100 Austrian 5 per Cents 80 3 Ditto 4/ per Cents 83 5 Brazilian 5 per Cents 99 101 Spanish 3 per Cents 391 1 Belgian 41 per Cents 90 2 Ditto Deferred 181 19 Chilian 6 per Cents 103 5 Sardinian 5 per Cents 84 6 Danish 5 per Cents 101 3 Swedish 4 per Cents 84 6