MONEY MARKET.
STOCK EXCHANGE. Fames Arrunzoom.
Since the commencement of business on Monday morning, the Market for Public Securities has been characterized by great inactivity, and an absence of operations calculated to influence prices to any extent, either one way or the other. There is, however, a continuous demand for small amounts of Stock for investment, which from day to day invariably tends to the sup- port of steady prices ; a few sales effected to close speculative accounts may have a temporary influence in producing lower rates, but it is always observed that a succession of small bond lute purchases have more real weight, and a recovery almost immediately takes place ; this phase has been particularly noticeable in the variations of the pre- sent week. As the settling-day in Consols approaches, several "Bull" accounts have been closed without causing any material reaction. There is considerably leas anxiety as regards home politics, and with the abundance of unemployed capital, both in and out of " the House," the easy rates of interest on loans, the steadily improving state of the Bank coffers, together with most foreign exchanges being just now in our favour, there would seem at present to be nothing likely to produce any lasting fall in values ; and unless some unforeseen political event occur, the money market will most probably remain in the same easy condition for some months. The applications for the new Brazilian Loan were accompanied with a de- posit of 10 per cent ; this caused a rather large demand for money on Wed- nesday, but with that exception the discount market has been altogether inactive, and the rate still ranges between 2 and 21 per cent. The extreme fluctuation in Consols during the week barely exceeds '4 per cent; the first price, 981, has not been maintained ; and the final quotation today is 971 971, and 98 98/ for July. Exchequer Bills, 33s. 37s. ; Reduced, 961 961 ; Bank Stock, 219 222; India Stock, 221 224. The Foreign Market, upon the whole, has not had that buoyant appear- ance which it had last week, an uneasy feeling connected with the state of politics abroad no doubt being the cause ; most Securities are flatter, and at the close this afternoon there is considerable gloominess hanging over the market. Peruvian Stock has receded 1 per cent from the late advance, and the Dollars are 2 per cent lower. Venezuela is quoted at the same price. During the week Messrs. Rothschild have introduced a new Four-and-a- half per Cent Brazilian Loan for 1,500,0001., which has been most favour- ably received, upwards of 8,000,0001. having been applied for ; the scrip is quoted 1 1 premium. Buenos Ayres close 82 81; Russian, 111 112; Turkish Six per Cent, 96 961 ; Ditto Four per Cent, 104 1041; Peruvian Four-and-a-half per Cent, 86 87 ; Ditto Three per Cent, 6.5 66 ; Ditto Dollars, 66 68; Spanish, 441 45 ; Mexican, 201 201. The English Railway Market has been flat and heavy all the week, prices exhibiting an average decline upon those of last Saturday of lOs. to 20s. per share, caused more by the continuance of unsatisfactory traffic re- turns than the character of sales effected. This being first " making-up" day few transactions have occurred independently of those in connexion with next Monday's settling. The following are the final rates in the heavy and leading lines, the lighter description of shares being nearly al- ways more or less influenced by the state of the heavy markets—Great Western, 53' 541; London and North-Western, 921 921 ; Leeds, 9014; Oxford, 1511; Caledonian, 411 2 ; Berwick, 901 4; Brighton, 1071 85; Eastern Counties, 121 ; Chester and Holyhead, 34 36 ; Great Northern, 251 4 ; Manchester, Sheffield, and Lincoln, 374 38. Owing to some new issue of shares the Indian Market has been very fiat ; East Indian, 104105; Great Indian Peninsula, 204 21; Madras 20/. shares, 204 201. Foreign shares generally have been dull, attributable, in a great measure, to a want of confidence—Lombardo-Venetian, 21 31 prem.; Great Luxembourg, 74 I; Antwerp and Rotterdam, 61 1; Paris and Lyons, 281 91; Strasbourg, 24 5; Orleans, 47_49 ; Namur and Liege, 9/1 ; Sambre and Meuse, 75 4.
At the annual meeting of the Oriental Bank a dividend and bonus for the last half-year were declared at the rate of 7 per cent. The losses of the bank during the commercial crisis were insignificant. It was resolved the Directors' remuneration shall be increased from 24001. to 40001.
The report presented at the annual meeting of the National Bank, on Tuesday, was of a satisfactory nature. The Directors say that last year the loss by bad debts was even less that usual, spite of the monetary pressure; but the disasters of the crisis affected Ireland in but a small degree. The total of interest and bonus paid to the shareholders for 1857 amounted to 174 per cent. The half-yearly dividend in August will be 3 per ceat, with pro- bably a bonus of lOs. per share. The dividend of the London Chartered Bank of Australia for the sit months ending December is to be 3 per cent, with a balance carried forward of 12,6731. It appears from the report of the Directors of the Ionian Bank, presented to a meeting on Thursday, that though a succession of bad harvests have been experienced, diminishing business, the dividends of the bank are kept up to 5 per cent.
It is understood that Mr. Weguelin, M.P., who was recently Governor of the Bank of England, is about to join the banking-house of Messrs. Roberts and Co.
The dividend of the Peninsular and Oriental Steam Company will be, as usual, 31 per cent for the half-year, with an additional payment of 1 per cent.
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