20 SEPTEMBER 1856, Page 9

MONEY MARKET.

STOCK MICHANOR, FRIDAY AWERNOON.

The speculators in the Vaglish Funds, and the public, have been more avourably impressed this week with the position of the money-market. Consols had receded to a lower point than in April, when there was 2,000,0001. less bullion in the Bank and discounts ranged from 6 to 7 per cent. The present drain of gold is now regarded as arising from temporary and exceptional circumstances ; and although this pressure may not be al- leviated for some time, it is to ultimate ease that the public are now look- ing, based upon the soundness of trade. From the constant efforts of the French Government to obtain specie at a premium, there will probably be no relaxation in the supply from this side : it has also been computed by East India houses in London, that from last July to July 1857 a total of 8,000,0001. will be paid to China and India in excess of the remittances during the previous twelve months ; but against this the sums required by the India House for their disbursements in England must be placed, and it is doubtful whether the imports of produce from India this year will reach their previous total. It is calculated that the Australian gold arrivals will enable us to purchase silver to meet the demand for the East, apart from the Mexican and Californian receipts.

There has been a demand for money in the Stock Exchange and discount- markets, as well as numerous applications at the Bank, owing to preparations for the payment, yesterday, of the last instalment of 1,000,0001. on the Loan, and a desire to obtain a good supply against a possible advance in the Bank rate. The Funds have rapidly recovered from the depression of last week ; the rise has amounted to 11 per cent : Consols for Money touched 941 yester- day. Today there has been a reaction of 1 : Consols have been done at 941, and close 941, and 941 1 for Account. Exchequer Bills are Is. lower. India Stock has not altered.

The Corn-market has been firm at an advance of 3a. Gold and specie arrivals have comprised 166,0001. from the West Indies, 136,0001. from New York, and 87,7001. from Australia. Specie, chiefly silver, amounting to nearly 500,0001., is expected to be sent to India tomorrow.

The Foreign Stocks have been more settled, and in some cases there has been considerable buoyancy ; but today they are rather less firm. Buenos Ayres have advanced 4 Turkish Six per Cents IL Ditto Four per Cents 1, Dutch Four per Cents 1. There has been a decline of 1 in Peruvian Four- and-a-half and Russian Four-and-a-half per Cents, and 1 in Spanish Three per Cents.

The general heaviness in Railways, which was making marked progress, has been arrested by the rise in Consols ; and since Monday, when the Ac- count was arranged, there has been increased activity, and a considerable rally has taken place. Although today there has been a little flatness, there is this improvement shown in the following lines compared with last week—Great Northern, and Midland, 2/. 10s. ; London and South-Western, IL 15s.; London and North-Western, it. 108. ; Great Western, and Lance- Shire and Yorkshire, it. 5s.; Bristol and Exeter, and London, Brighton, and South Coast, 1/. In Foreign Shares there has been comparatively little doing. East Indian, and Western and North-Western of France, are 10s. higher ; Great Western of Canada has fallen II., and Northern of France 10s.

SATURDAY, TIVIDYR O'CLOCK.

The English Funds are 1 lower this morning, owing to doubts respecting the submission of the King of Naples. Consols for Money are 94 1, and for Account 941 Exchequer Bills 13 16 premium. The bullion return by 1.

the Bank of England exhibits a decrease of 37,4571. In Foreign Stocks, Austrian and Russian Five per Cents have declined 1 per cent. Railways have receded through a desire to effect sales—Lancashire and Yorkshire, 971 ; London and South-Western, 105 ,• London, Brighton, and South Coast, 106 ; Midland, 791; Ditto Birmingham and Derby, 61.

3 per Cent Consols

Ditto for Account 3 per Cent Reduced New 3 per Cents Long Annuities Bank Stock Exchequer Bills India Stock Austrian 5 per Cents Brazilian 5 per Cents Belgian 44 per Cents Chilian 6 per Cents Danish 5 per Cents Danish 3 per Cents 94 1 944 f shut shut shut shut

13 16 pm. 230 4 86 9 102 4 97 9 105 7 101 3 85 7

Dutch 24 per Cents Ditto 4 per Cents Mexican 3 per Cents Peruvian 44 per Cents Ditto 3 per Cents Portuguese 4 per Cents Russian 5 per Cents

Ditto si per Cents

Spanish 3 per Cents Ditto Deferred Sardinian 5 per Cents Swedish 4 per Cents Turkish 6 per Cents Ditto 4 per Cents Guaranteed

641 51 98 9 22 3 79 81 57 9 49 51 107 9 96 8 434 4 244 I 91 3 85 8 1021 3 1021 51

DANE. OF ENGLAND.

An Account, pursuant to the Act 7th and 8th victoria, cap. 32, for the week ending ou Saturday, the 13th day of Sept. 1556.

15595 DEPARTMT,Cr.

Notes issued 423,90,413 I Government Debt £11,013,100

Other Securities 3.459,900 Gold Coin and Bullion 11,487,415

Silver Bullion

£25,962,415 I £23,962,413

BANKING DEPARTMENT.

Proprietors' Capital E11,553,000 Government Securities (inclu-

Rest 9,730,817 ding Dead WeightAnnuity). £11,964,923 Public Deposits. 6,609,292 Other Securities 16,921,279

Other Deposits 9,973,561 Notes 6,210,725 Seven Days and other Bills— 887,179 Gold and Silver Coin 653,895

£35,753,652 £35,753,862 • Including Exchequer, Saying-Banks, Commissioners of National Debt, & Dividend Accts.

RAILWAY ARRANGEMENTS.

The report of the Chester and Holyhead Company states, that in the re- ceipts for the half-year to the 30th of June there is an increase of 93181. on the Railway and 46931. on the Steam-vessels compared with the correspond- ing period last year ; and an increase of 51681. in the expenses. The receipts have amounted to 110,3181., the expenses to 59,4981. The working expenses have been little short of 54 per cent on the earnings of the rail- way; but they will now be reduced through arrangement with the London and North-Western Company. The balance to the credit of revenue is 50,9681. At the meeting on Tuesday the report was agreed to, and a divi- dend declared of 8s. 3d. per share on the First Preference Shares.

In the report of the Scottish Central Company, the Directors recommend that they should receive powers to apply in the next session of Parliament for an extension of the Denny branch, so as to embrace the mineral fields existing Northwards of Denny, or in such direction as may be expedient. The gross receipts of the Scottish Central, and Edinburgh, Perth, and Dun- dee Companies, for the half-year, amounted to 155,739/. ; the Scottish Cen- tral proportion was 70,7391. The working expenses were 65,8501. ; the Scottish Central proportion was 28,527/. There is an available sum of 25,5451., from which a dividend is recommended at the rate of 6 per cent per annum on the Consolidated Stock, leaving 451. for the surplus-fund.

The half-yearly General Court of Bank Proprietors was held on Thursday. It was announced that the net profits for the half-year ending 30th August were 687,672/. ; a dividend of 41 per cent for the six months was declared. A proprietor inquired as to the success of the new West-end branch : the Governor said the business there was increasing—the Directors are satisfied with it.

Mr. Alfred Latham was elected a Director of the Bank of England on Wednesday, in the room of the late Mr. H. J. Prescott.

The City Bank and the Bank of London are to be admitted to the Clear- ing-house on the 1st October.

Many of the shareholders in the London and Paris Bank having refused to pay up their calls, organized themselves to obtain a dissolution of the company, and threatened an appeal to the law, the Directors were compelled to reconsider their position, supported as they were by only a section of their constituency. They resolved, though reluctantly, to propose at the meeting yesterday that the bank should be dissolved ; the paid-up capital to be returned as quickly as possible to the shareholders ; 3/. per share to be retained for the present to meet expenses. The meeting sanctioned the arrangement.

At a meeting in Glasgow of the European and Australian Royal Mail Company, it has been resolved to increase the capital from 410,0001. to 500,0001., with power to borrow 125,0001. This augmentation is in con- sequence of a resolve to employ larger ships and more of them in carrying out the business of the company. The Government contract for carrying the mails is for five years, at 185,0001. per annum. The service will com- mence in January. The passage from Suez to Melbourne is to be performed in thirty-nine days, and the homeward voyage in thirty-five days, under heavy penalties.

The ballot on the motion for dissolving the General Screw Company ter- minated on Monday : the votes were 549 for the dissolution, and 2 against it.

Unchecked by the monetary disturbances in London, business in the manufacturing districts still exhibits increasing activity, with a tendency to higher prices. Mr. G. P. Simcox, the largest handloom-weaver at Kidderminster, has suspended payment : his difficulties have been of long standing. It is stated that the results of the liquidation of the affairs of Mare and Co. will be most disastrous to all unsecured creditors.

Two of the smaller vessels of the General Screw Company are said to have been purchased for the Russian Government.

A letter from Berlin in the Conatitutionnel says—" The Darmstadt Bank, which has taken the initiative of a general congress of the German banking establishments, has just addressed an invitation to its colleagues to send de- legates to it. The object of this congress is to come to an understanding on the general principles of circulation, as to form of drafts, the conditions of the reciprocal acceptance of bank-receipts, a common monetary unity, &c. This idea has been very favourably received, and will probably be realized in a short time."

The price of grain is falling in all the French markets. In Paris flour is a good deal cheaper ; while no buyers can be found to contract for the first four months of next year except at a reduction of 10 francs per sack on pre- sent prices. The report of the failure of the American house of Wetmore and Co. at Canton is confirmed. The position of the estate would seem to be excellent, showing hardly any deficiency.

CRYSTAL PALACE.—Return of admissions for six days ending Friday September 19, including season-ticket-holders, 34,921. '