MONEY MARKET.
STOCK EXCHANGE, FRIDAY EVENING.
THE demand for discount this week has again been moderate, and there was some idea that yesterday the Bank would again reduce their minimum rate to 2 per cent. The exportation, however, was not general, and no surprise was expressed when it was announced that the Court of Directors had risen without adopting any change. In the open market the best bills have been usually taken at 21 to per cent, and the Bank have hence been doing little business. On the Stock Exchange there is a good supply of capital at 1 to 2 per cent.
The negotiation of the 1,600,000/. Six per Cent Debentures issued by the colony of Victoria for railway purposes, was completed on Tuesday. The tenders sent in were about 900 in number, and for a total of 6,100,000L, and ranged from 921. 10s. 6d. to 105/. us. The applicants at 102/. 16s. 6d. and upwards receive allotments in full, and those at 1021. 16s. about 14/15ths of the sums applied for. The official minimum was fixed at 102, and the quotation on the Stock Exchange is now 1031 to I.
The Funds have been rather dull, and dosed this evening a fraction lower than last Friday. At one period a temporary improvement to 9311had been obtained. The final prices were 92i for money, and 92i to 93 for the new account in January.
Other Government Securities have been comparatively steady. India Five per Cents left off firm at 106 to
In Foreign Stocks there has been a remarkable rise in Mexican, which, on the whole, has been well maintained. Spanish Venezuela and New Grenada Bonds are also in demand and higher. Other descriptions remain steady. The Moorish Loan continues to be bought for investment, and closed firmly this evening at 51 to ir premium.
A general fall has occurred in British Railway Shares, owing to the falling off shown in the traffic returns. London and North-Western, Midland, and Lancashire, and Yorkshire have been especially fiat, while SouthEastern has exhibited increased firmness. There has not been much general business doing this week, owing to the fortnightly settlement.
Colonial descriptions have generally advanced, particularly Canadian.. There have also been some good inquiries for Indian Guaranteed Stocks, which continue to be purchased freely by the public.
Foreign Shares are firm. A sudden rise occurred in Lombardo-Venetian on Wednesday, in answer to a corresponding movement in Paris, but it has not been maintained. French and Brazilian descriptions are higher. American Securities remain dulL In the Miscellaneous Department the feature is the continued demand for Joint-Stock Bank Shares, in several of which a farther improvement has taken place. United Mexican Mining are also better.
The imports of specie this week include 191,000/. from Australia ; 41,0001. from New York ; and 180,000/. from the West Indies. The exports consist of 289,000/. to Bombay ; 50,0001. on Government account to Halifax; and about 600,0001. in gold to the Continent.
At a meeting to-day of the Scottish Australian Investment Company, dividend was declared at the proposed rate of 10 per cent, per annum. About 50001. in gold was taken from the Bank this afternoon.
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