MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON. Tin payment of the half-yearly dividend on Consols has caused an increased supply of money in the Discount Market, and the rate for the best bills has fallen to below 54 per cent. On the Stock Exchange loans on Government securities, for short periods, can be obtained at less than 4 per cent.
Consols have been firmer throughout the week, partly owing to the usual investments that take place on the payment of the dividends. The public also continue to purchase at the present low prices, but chiefly in Reduced New Three per. Cents, which are relatively much cheaper than Consols. Compared with last Friday, arise is shown of about a quarter per cent. The tenders for the new Indian Loan of four millions were sent in to-day, but owing to the large number of the applications, few par- ticulars transpired up to a late hour. It is known, however, that the minimum fixed by the Government was 981r, and it is- believed that the tenders reached a total of about twenty-four millions. In Foreign Stocks a further improvement occurred in Turkish Six per Cents of 1858, but a reaction has since taken place. Mexican is a fraction higher, a deputation from the bondholders having met with a satisfactory reception from Lord John Russell. Russian descrip- tions continue to droop.
Railway Stocks were rather drill in the commencement of the week, but partly from the advance in the funds, and partly from the sudden death of a large provincial speculator for the fall, whose account will now have to be closed, a general recovery has been established. London and. North-Western, Midland and Great Northern have been especially firm. Grand Trunk of Canada securities receded early in the week, but have since partially rallied. Illinois Central Shares are higher. Indian Guaranteed Stocks are steady.
Consols, for Account, 7th August, 901, ; India Five per Cents, 99, 99i Spanish, 484, 491; Turkish Six per Cents, 1854, 76f, 77 ; ditto, 1858, 61/, 614; Russian Three per Cents, 61, 61f; Mexican, g4, 221; Brazilian Five per Cents, 99; London and North- Western, 944, 944; Midland, 1211, 121i; Lancashire and Yorkshire, 1114, 112f ; Great Western,_ 71, 71f ; South-Eastern, 814 81i; Great Northern, 1071 108i ; Eastern Counties, 49, 50; East Indian, 98, 99; Grand Trunk of Canada, 18f, 19.f ; Lombardo-Venetian, f dis. ; Illinois Central, 38f to 37f chs.
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