15 DECEMBER 1855, Page 9



The present political uncertainty, and absence of evidence during the week to account for the recent pacific rumours, have caused diminished confidence among the operators in the Funds, who have also been influenced by the announcement of the fall of Kars. A desire has been manifested to realize profits on the late improvement ; and speculative transactions for the fall have been rather numerous. Preparations for en instalment of 16 per cent due on Turkish Scrip this day, making a total of 80, and the final one of 10 per cent on the English Loan next Tuesday, have prevented any return to buoyancy ; and money has been in demand at full rates, being worth on Go- vernment Securities from 5 to 5f per cent ; in the discount-market and at the Bank of England it has been also in request. Console for Account opened on Monday at 89} I, and have been since done at 88f : today they leave off at 88} f, after having been dealt in this morning at EN. Bank Stock has improved f per cent. Exohequer Bills have declined la. No effect was produced on the Funds on Wednesday by the long-anticipated Gazette notice of the previous evening, that the Bank of England was empowered to increase the amount of securities in the Issue department to the amount of 475,000/. beyond the 14,000,0001. referred to in the Act, and to issue additional notes from the Issue department to the extent of 475,0001. This is to supply the amount of note-circulation extinguished since 1844 through the failure or withdrawal of private establishments ; and will be a transfer of securities for 475,0001. from the Banking to the Issue department, in exchange for the same amount of notes to be put into circulation : the unemployed funds will thus be increased, and the same facilities afforded for granting discounts as at present exists, after the withdrawal of the above sum. The date of the new issue is expected to be arranged in a few days. A further fall of 3s. to 41. in the Corn-market this week, and the com- parative firmness of the French Funds, have been favourably received. At Vienna, the money-market continues to improve ; but this is attributed more to grain-exports than anticipations of peace. The exchange on London has further declined nearly II per cent : it has since advanced to 10.45. Foreign Securities have been steady, and little activity has been presented, with the exception of Turkish Six per Cents, in which several fluctuations have taken place. It closed on Saturday at 84} 5; was done on Wednesday as low as 82k ; and is now 83} 4. Dutch Four per Cents are better, and Russian Five per Cents 1 lower. It has been stated that the house of Men- delssohn, one of the first banking establishments at Berlin, and agent of Messrs. Stieglitz, the Court bankers in Russia, has been authorized by the Prussian Government to open subscriptions in that city for a Russian Five per Cent Loan of 60,000,000 of roubles, or about 8,000,0001. sterling. The price of the loan is said to be 86; and that one-third will be offered in Ber- lin, one-third in Hamburg, and the other in Amsterdam. The announce- ment has created much surprise on our market. The Government of Buenos Ayres intend to increase their monthly remittance on account of the divi- dends from 5000 to 10,000 dollars: the agents for this stock have advertised a payment equal to one half of a semi-annual dividend on the coupon of the 12th of July 1829. In Railways a alight depression has occurred, and sales have been occa- sionally pressed owing to the weakness in Consols. The Account was ar- ranged yesterday. Great Western has improved 10s. A depression has occurred in the following—London and South-Western, 1/. ; East Lanca- shire, Great Northern, Lancashire and Yorkshire, and London and North- Western, 10.1. French Shares have declined in about the same proportion, but have rallied a little.


The English Funds have improved S. this morning ; Consols for Account are now 881 f. Exchequer Bills 7 3 discount. There is a decrease of 147,5291. in the bullion return by the Bank of England. Foreign Stocks are very quiet ; Turkish Six per Cents are 831 i, and the Scrip 3i 3 discount. Railways are very dull—Great Northern A Stock, 76; Great Western, 601; London and North-Western, 93f ; Manchester, Sheffield, and

In the report of the Directors presented at a meeting of the Shareholders of the Crystal Palace, held yesterday, it is stated that the total expenditure will reach 1,391,5001.; it will be necessary to raise 70,0001. to meet liabili- ties; 63,6001. has been taken from revenue to meet claims on the capital account. Reductions of expenditure are in progress. It is proposed to ap- ply to Parliament for power to issue life-tickets in exchange for shares. The Committee of Shareholders have also presented their report : it is very gratifying in some respects—they found the accounts correct, Mr. Lyon fail- ing to substantiate his accusations ; and Directors and officers gave them every facility in their inquiries. They recommend the appointment of a managing director, the payment of directors, and retrenchment of general expenses. They think that when all the fountains play next summer they will prove a great attraction. The meeting was stormy, and was adjourned.

At the half-yearly meeting of the proprietors of the Bank of Australasia, en Monday, a favourable report was presented. The dividend, payable in April, will be at the usual rate of 20 per cent per annum.

The adjourned meeting of the Australian Direct Steam Company, via. Panama, took place on Wednesday ; when it was agreed to postpone further proceedings, to enable the directors to topsider an offer for the transfer of the undertaking to influential parties at Liverpool, who intend to carry out the objects of the company.

The London Omnibus Company turns out after all to be a reality. It was enrolled in Paris last week ; and on Saturday a deposit of nearly 31,0001. was lodged with Roberts and Co. for the payment of the first instalment of the purchase-money of the omnibuses.

The sugar trade continues in an almost stagnant condition, the few sales effected being at lower prices; coffee, on the contrary, has an upward ten- dency, with a brisk demand.

The accounts from the manufacturing districts are of a favourable charac- ter, denoting a quiet confidence and even improved trade.

As in our own markets, the prices of grain and flour are falling consider- ably in France.

It is believed in the United States that the present cotton crop will be the largest ever known.

The last advices tell of great exports of bread-stuffs from New York, and a rise in price.

Lincoln, 221; Midland, 631 8 per Cent Consols , shut.

Ditto for Account 88; 1 3 per Cent Reduced 88

New 3 per Cents 88; Long Annuities 34

Bank Stock , 209 10

Exchequer Bills 7 3 ills.

India Stock shut Austrian 5 per Cents 81 4 Brazilian 5 per Cents 98 100 Belgian 44 per Cents: 91 3

Chilian 6 per Cents 101 8

Danish 5 per Cents 100 3

Danish a per Cents 81 4 Dutch 24 per Cents

4; Ditto 4 per Cents 631 93


Mexican 3 per Cents 19 20 Peruvian 44 per Cents 74 6 Ditto 3 per Cents 52 4 Portuguese 4 perCents 44 6 Russian 6 per Cents 96 8 Ditto 44 per Cents 88


Spanish S per Cents Ditto Deferred NI i Sardinian 5 per ents 83 5

Swedish 4 per Cuts

84 7