MONEY MARKET.
STOCK EXCELANG3, FRIDAY EVENDIG.
As the termination of the year approaches, the demand for money steadily augments, and this week an increased discount business has been done both at the Bank and in the open market. The rates are gradually approximating to the Bank minimum, and few or no trans- actions now take place lower than a per cent. On the Stock Ex- change, however, there is still a large supply of capital, and loans on Government Securities are obtainable at If to 2 per cent.
The Stock Exchange, Corn, and other markets, will be closed on Monday for the funeral of the Prince Consort. Owing to the lamented death of the Prince Consort and the unfa- vourable view taken of the President's Message, the Funds have been flat throughout the greater part of the week. To-day, however, more firmness has been shown on the satisfactory Bank return, and late in the afternoon a sudden rise took place on the report of favourable news from New York. Consols, after being as low as 89k, closed this evening at 90k for money and 90k to f for the account, or about k per cent, higher than last Friday. There has not been much business doing. Other Government securities have also been dull, except India Five Rer Cents, which continue to manifest comparative steadiness, the Imal quotation this evening being 1021 to 103. Foreign stocks have been inactive, but have still shown rather an upward tendency. The principal transactions continue to be in Turk- ish Six per Cents and Mexican, but have not been to any considerable extent. There is an indisposition to do much business before the holidays and with the American question still unsettled. Railway stocks are also in little demand, and from the unfavourable traffic returns show some flatness. The public, however, are not selling in any material degree. Compared with last week, prices are generally a shade lower. Caledonian is especially heavy. In the Colonial and Foreign markets a recovery has taken place in Canadian descriptions. American Securities are again depressed. The chief alteration in the Miscellaneous market is a further rise in St. John del Rey Mining Shares. Australian Agricultural have fallen. There has been a fair inquiry for Joint-Stock Banks. The Debentures of the various Colonial Governments have partially rallied, but remain with an unsteady appearance.
The arrivals of specie this week comprise 308,0001. from Melbourne by the Wellesley; 27,0001. by the Fern; and 120,000/. from the We Indies. The shipment to the East to-day has been 41,50011 chiefly silver. All the Australian gold has gone, or is expected to go, into the Bank, 69,0001. having been taken there this afternoon.
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