MONEY MARKET.
STOCK EXCBANOE, FRIDAY APTHRROON•
During the early part of the week the markets for English Securities remained in a dull and inanimate state ; the uncertainty then prevailing as to the future course of the Bank of France tended to check operations of a speculative character, and kept quotations fiat. Consols opened on Monday 931 931 for 6th December, and continued at that price until Wednesday mid-day, when, upon the announcement of the negotiation entered into between the Banks of France and England, whereby the former is to have as a loan 2,000,0001. in gold in exchange for 2,000,000/. in silver, a sharp and
sudden clap took place to 931 934. Several " Bears" were induced to repur- chase their stock whilst-there were only few sales-for realization"; thus the market closed firm., and haasince shown considerable steadiness, although
the prices have not been maintained. Console were yesterday 931 93/, today the last price is 931 only ; this is perhaps consequent upon the dulness upon the Pans Bourse, Rentes being actually a shade wea'ker than they were before the Bank operation. India Five per Cents, 1031 1031; Bank Stock has been done this morning at 234; New Three per Cents and Reduced, 911 92. The average rate for money in the English Market has been 3 per cent. The demand has not by any means been active. The principal feature in the. Foreign Stock Market has been the activity shown in the dealings in Turkish Stocks ; the quotations have again risen 2 per cent ; the New Six per Cents leaving off 64 59, and the'Old-ditto, 73} 731. These late improvements are owing to the announced completion of the new Loans of 16,000,0001. Mexican, good at 214 22 ; Spanish, 49 50 ; the Deferred, 41 41+; and the Certificates, 54 6 ; Venezuela, 2,1 22; Ditto One-and-a-Half per Cent, 11 12. Other Securities show firmness at ad- vanced rates. Peruvian Four-and-a-Half per Cent, 94 95 ; Ditto Three per Cent, 73 74 ; Sardinian and Victor Emmanuel Bonds both good and in demand; the former at 87 88, and the latter, 97 98. Russian Five per Cents, 105 107 ' • Buenos Ayres steady, 94 96 ; and the Three per Cents, 29 30. French Railway Shares have been rather iractive; and, although an advance was established at one time, quotations were not supported, and re- ceded. Lombardo-Venetian were a discount, but are now 41 discount ; Paris and Lyons, 35.1 361. Indian Shares are good, in anticipation of approaching dividends—East Indian, 101 102 ; Madras, 95 96 ; Bombay and Baroda,. 94% 951. English Railway Stocks and Shares have the last day or two been very active, and exhibited great buoyancy ; quotations are considerably higher all round—Great Western, 72 721 ; Midland has risen to 1321 132,1; Lon- don and North-Western, 99/ 100; London and Brighton, 113 114; Caledo- nian has risen fully 1 per cent, and closed 931 94 ; Edinburgh, Perth, and Dundee, Vof 39+; Berwick, 102 1024; North British, 624 63 ; Chester and Holyhead, 624 631; South-Eastern and Dover, 84+ 84+ ; Manchester, Shef- field, and Lincoln very firm, 47 48 ; Great Northern, 1111 1121; North Staffordshire, 14+ 141 ; London, Chatham, and Dover, 50 52.
Canadian Shares have shown heaviness—Great Western, 11,1 111 ; and Grand Trunk, 221 23.
Joint-Stock Banks have been in demand, and close generally good—City, 70 72; London Joint-Stock, 301 31?, ; Westminster, 621 634 ; Union, 2of 26+. Ocean Marine Assurance, la 2i prem. ; Thames and Mersey, I prem., dull.
It is understood that Mr. Kirkman Daniel Hodgson, of the firm of Finlay, Hodgson, and Co., is the Bank director who will be recommended in March next to succeed Mr. Latham as Deputy-Governor.
The Sussex, with 62,161 ounces of gold, and the Water Nymph with 80,453 ounces, have arrived from Australia. The gold, value 570,0001., was immediately bought for France. Two other ships, the Anglesea and the Suffolk, are nearly due, with gold on board.
Mr. Anderson, Inspector of Machinery at Woolwich, has reported on the comparative value of Australian and English coal for steam purposes. Whitworth coal, in the first experiment, produced in a given time 4000 re- volutions of an engine, Welsh coal 4367, Hartley 4290, and Australian 3950. On a second experiment, Australian coal produced 4080 revolutions, 80 above Whitworth, and 287 below Welsh coal. Mr. Abel, chemist to the War Department at Woolwich, says the volatile matter in Australian coal amounts to 71 per cent, and light and porous coke 29 percent. It is, there- fore, adapted for the manufacture of gas.
A meeting of the creditors of Messrs. J. and E. Williams, sugar agents, Fenchurch Street, was held on Wednesday. The liabilities are 42,2811. ; assets, 33,6291. A composition of 16s. in the pound was offered, and a com- mittee was appointed to investigate and report.
The Colonial Life Assurance Company has published its fourteenth annual report, from which we learn that 587 proposals, producing a revenue in an- nual premiums 13,5231., have been accepted during the year, convering as- surances for 357,7641. The total annual revenue is 108,9381., securing pay- ments at deaths for no lees than 2,439,5821.
The London Discount Company has determined to wind up. Four years' business had only produced a gross profit of 60,0001., or. about 9 per cent ; but 47,000/. of bad debts had accrued : 18,2001. only had been divided, or about 11 per cent per annum. Mr. Scholefield, M.P., and three other directors, have resigned ; they disapprove of the winding-up.
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