MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
THERE has been rather more demand for money during the last day or two, owing to the requirements for the harvest, but nothing like pres- sure exists, and the rate in the general Discount Market is f to 1 below the Bank minimum of 5 per cent. On the Stock Exchange loans on Government Securities are in request at 4 per cent.
The continuance of fine weather in the early part of the week caused further buoyancy in the funds, which has been checked by the subse- quent change to rain. To-day there has been renewed heaviness owing to some sales by the Court of Chancery.
The new Indian Loan Scrip has been in demand to-day at a further advance. Investments still take place in this security..
In Foreign Stocks there has been a rise in Peruvian descriptions, especially the Uribarren Bonds, in anticipation of the extinction of this debt through the sinking fund. Turkish Six per Cents are also again higher.
Railway Stocks have been flat, and in some cases show a severe decline owing to the disappointment experienced at the unfavourable dividends lately announced. In the Foreign Market there is an improvement in Lombardo- Venetian, the prospects of this line being considered verygoodi, and strong support being given by purchases in Paris. American Secu- rities have generally fallen on the news from New York.
Moderate shipments of specie continue to be made to Canada and the United States, although in the latter ease the exchange has risen to a point that will leave a loss on these operations. 'l'he amount sent since last Friday is 56,000/. to New York, and 27,000/. to Quebec. The steamer, with the India and China mail, on the 4th, took 94,4884, of which 84,078/. was silver, and the remainder gold. The arrivals comprise 24,700/. from Brazil, 329,000/. from Melbourne by the Great Britain, and about 70,000/. in gold from the Continent. The greater part of these supplies have gone into the Bank.
Consols for Account, 10th September, 1904, 901; Indian Five per Cents 99/, ; Ditto Scrip, 1004, 1004; Brazilian Five per Cents., 974 984; Mexican, 224, 224; Russian Three per Cents, 604, 614;; Spanish, 481, 483; Ditto Deferred, 411. 414; Turkish Six per Cents, 1854, 79, 794; Ditto, 1858, 691, 704; London and North- Western, 92:1, 923; Midland, 122, 1224; Lancashire and Yorkshire, 110, 1104; Great Western, 66,664; South Western, 93, 95; South- Eastern, 804, 81; Great Northern, 1054, 1061; Caledonian, 1004, 1001 ; Eastern Counties„ 414; East-Indian, 99, 100; Grand Trunk of Canada, 18, 19;Lombardo-Venetian, 3, 1 pm.; Illinois Central, 40, 39 dis.
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