MONEY , MARKET.
STOCK EXCHANGE, FRIDAY AFFERNOON.
Owing to the daily improving position of the Bank of England, a further reduction in the rate of discount was yesterday announced, viz. from 6 per cent. at which it had been fixed on the previous Thurs- day, to 5 per cent. This measure has given great satisfaction in com- mercial circles, and greater eas& is already being experienced in the
money market. The inquiry for accommodation has been limited all the week, and loans have been easily obtainable at considerably lower rates. Advices from New York report a more favourable state of things both in a monetary and political point of view : the last exchange quotation was 107* 108, an improvement of 2 per cent. Consols opened on Monday morning 911 91* for the account liquidated yesterday, and 911 911 for the 9th proximo; the market continued dull and depressed up to Wednesday. afternoon, when a decided advance took place, anti late in the evening there were buyers at 924; the quotation has since alternated 911 92 and 92 924. To-day the market showed great sensitiveness, but the tone was firm at the com- mencement, 92 924; suddenly there was a drop to 911 upon extensive sales, said to be made upon a variety of adverse rumours telegraphed from Paris. Indeed the market now assumes a heavier appearance than has been noticed for some time, for it is remarkable, in the face of so much unfavourable continental news, quotations should continue so steadily at their present rates. New and Reduced, 891 90 ex. div. Bank Stock, 227 ex. div. India Five per Cent., mot loot India Scrip, I00f 100f. Exchequer Bills, 5s. dis. Railway Shares have fluctuated extensively all the week in sympathy with Consols, but closing this afternoon exceedingly flat. Great Westerns leave off 70 70f; London and North Western, 95f, 95g. London and South Western, 91 91*; Lancashire and Yorkshire, 1101 111i ; Midland, 1231, 1241; Caledonian, 95,96; London and Brighton, 119 121; South Eastern and Dover, 824 83; Manchester, Sheffield, and Lincoln, 44* 451; Berwick, 1021 1021; North British, 624 621 ; York and North Midland, 90 904. Shares were steady at somewhat improved prices, until the receipt of the Paris telegram, when there was a general decline of *per cent. Business has been dull in French shares. Strasbourgs, 22 23; Lyons, 37 38; Northern of France, 374 384; Luxembourg, 64 61; Lombardo-Venetian fell this afternoon from 2 lf dis. to 24 2, the market closing with a heavy tendency. Colonial and miscellaneous stocks and shares are without material change, with the exception of Grand Trunk of Canada, which is quoted 1 per cent. worse. Bombay and Barocla, 9293; Great Indian Peninsula, 84 94; East Indian, 984 994. The Foreign Stock Market has been dull and inactive, prices upon the whole are flatter all round, but there has been no decline of importance. Mexican, 24244; Turkish Six per Cents, 704-704 ex. div. ; ditto New Six per Cents, 534- 531; the two last have experienced the greatest depression. Peruvian, Four-and-a Half per Cents, 93 94; Do. Three per Cents, 724 73*; Do. Dollar
Bonds, 81 82; Do. Uribarren, 82 83; Buenos Ayres Six per Cents, 88 90; Do. Three per Cents, 28 29; Venezuela, 1920; Do. One-and- a-Half per Cents, 10 11; Grenada Active, dull, 15i 16; and the De- ferred Bonds, 5* 6; Brazilian, 85* 864; Russian Five per Cents, 102 103; Russian Three per Cents, 61 62; Portuguese 451 464-; Spanish Three per Cents, 49 494; Do. Deferred, 41 41f ; Do. Certificates, 51 51; Sardinian, 81* 824; Victor Emmanuel, 914 954. Money has been easy in this market at above 5 per cent. The half-monthly set- tlement is now in course of progress.
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