• MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
As usual, the number of commercial bills falling due at the end of the quarter causes an additional demand for money, and hence there has been a better inquiry in the Discount Market this week. The best bills, however, are taken at 3k per cent., and to-day there was more dispo- sition to do business on lower terms. On the Stock Exchange, the rate of loans on Government Securities is 2f to 3 per cent.
The Funds this week have been heavy, a decline of fully one-half per cent. having at one period occurred, the public continuing to effect sales for money. On the other hand, there has been more in- clination to purchase speculatively, and hence the market has recovered from the lowest point reached. Compared with last Friday, Consols show a decline of about I per cent., the closing prices this evening being 94, 93 for Money, and 93k, I for the new Account in November. The Indian Five per Cent. Loan was exceedingly flat at one period, partly from realizations on the fall in Consols, and on Wednesday touched 102i. A rally, however, subsequently took place to 103# to I. In Foreign Stocks, Mexican relapsed in the earlier part of the week, but has since shown more steadiness. Buenos Ayres bonds have fallen considerably on the breaking off of the negotiations for peace with the Argentine Confederation, and the expected outbreak of war. Turkish Six per Cents. are dull on the disturbances in Montenegro. Brazilian and Spanish Stocks have been in rather better demand.
The Railway Market has fluctuated rather extensively, and at one time a severe fall had been experienced in most of the leading stocks. A marked rally then ensiled, and at one time considerable buoyancy was shown, but this afternoon the tendency has again been less steady. In colonial descriptions, Great Western of Canada shares have been little affected by the announcement that no dividend will be proposed ftoartntedhe. past half-year. Indian Guaranteed Stocks are fairly main-
Foreign railway shares have been rather dull, but partialli re- covered from a reduction in the commencement of the week. me- rman securities remain heavy. In the Miscellaneous Department British mining shares have been more offered, but foreign were firm, United Mexican and St. John del Rey in particular showing an advance. The former company have received very satisfactory advices from the mine. The arrivals of specie this week comprise the Tasmanian, with 656,5001., from the West Indies ; the Oneida, from Brazil, with 120,0001. ; the Ceylon, from Alexandria, with 11,0801. and. a small amount of gold and silver from the Continent. The exports . consist of 12,800/., Iv the Asia, to New York ; 12,5801. to the West Indies; and 64,9521. to Egypt, India, and China. About 150,0002 to 160,0004 in gold was purchased by the Bank to-day.
Previous page
