MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
THE Money-market continues to manifest increased ease, and the Bank yesterday lowered their rate of discount from 4 to 34 per cent. In Lombard-street t however, the terms are even below the latter figure, the best bills being negotiated at 34, or a fraction less. On the Stock Exchange there is an abundant supply of capital, and loans on Government securities have been offered at only 14 per cent. To- day, however, the current charge was 24 per cent.
The reduction at the Bank has been succeeded as usual by the Joint-Stock Banks and Discount Rouses making a corresponding change in their interest on deposits. The terms at the former are now 24per cent, on all amounts, except the London and Westminster, which gives 14 only on' sums below 500/., and at the latter 24 per cent, for money at call, and 24 with seven days' notice.
The Funds remain quiet, with little doing. Compared with last week, no material change is shown, the present prices being 934 to for Money, and 934 to for the Account. The ease in the Money 'Market continues to exercise the chief favourable influence, and neutralizes the effect of the American crisis and the uncertain position of affairs in various parts of the Continent. India Five per Cents were dull at one period of the week, but have since improved, and closed at 1034 to 104. The principal feature in Foreign Stocks has been a demand for Spanish-American Bonds, which have consequently experienced a general advance. Mexican, after rising to 234, relapsed to 234, but
• ain show a firm tendency, the last price being 23 4 to 4. Peruvian, Uuhian, and Venezuela bonds, on the other hand, have been fully supported. Turkish Six per Cents of 1858 have also advanced.
Railway Stocks have been fiat from the expectation of reduced traffic through stagnation in trade. Lancashire and Yorkshire has especially suffered from the position of this railway in the manulac- turing The continuous falling off in the receipts has made theNorth-Eastern descriptions very fiat. The market generally is de- pressed, and would be still heavier but from the easiness in the .Money Market.
In the Colonial Market, Indian Guaranteed Stocks are steady, and Canadian descriptions have in some degree recovered from their pre- pus depression. Foreign Shares. have been in fair demand, Brazi- han and Lombardo. Venetian especially showing a further rise. Ameri- can Securities are generally flat. Colonial Government Debentures
continue in demand, being purchased for permanent investment. Mining Shares have exhibited increased buoyancy. Great Ship Shares have fallen heavily on the accident to the Great Eastern. The Preference Stock is also lower.
The arrivals of specie this week comprise the Seine, from the West Indies, with 133,0001., the Orwell, from Australia with 155,0001.,, and the Pere, with 118,000/., also from Australia, via Alexandria. Some parcels of gold coin have also been received from the Continent. The only shipment of importance has been 73,7041. for Egypt, India, and China.