MONEY MARKET.
STOCK EXCHANOZ, FRIDAT APTIZINOON.
Early on Monday morning, considerable surprise was created by the sud- den announcement of an advance in the Bank rate of discount of 1 per cent, viz.—from 5, at which it had stood since 29th November, to 6 per cent. The measure was deemed necessary from the continued drain of bullion both to the Continent and America, but notwithstanding the advance, very large withdrawals were made during the day, and up to this afternoon the demand for accommodation has only slightly subsided. Consols were first quoted firm, but soon relapsed after the Bank decision became known ; the last price in the afternoon was 921 buyers. The Bank of France following the move- ment on this side, raised its rate from 41 to 51 per cent ; this was fully en- pected, although the consequence was a fall in Routes of per cent, and a further decline of # the next day. The Paris Bourse has been heavy all the week, and quotations have de- clined considerably. A recovery took place this morning in the English market of nearly 1 per cent, but the improvement has not been supported, and a reaction has occurred of 1, Consols closing 921 921, after having been done at 921. Bank Stock has been negotiated at 233; New and Reduced, 92k; Exchequer Bills, 3.s. die. par. Money has been in demand, hut" without creating any great amount of pressure. Financial matter* in
America are becoming gradually brighter. •
have undergone little or no variation. Turkish and Mexican have been ohielly dealt in, but operations have been only to a limited extent, prices per Cents, 30 31 ; Chilian, 8283; Ditto Six per Cents, 102 104; Turkish Six declining, and are now heavy, owing to the flatness on the Paris Bourse. Northern of France, 38 39; Luxembourg, 657. Indian Shares steady, and showing very little change. Mexican is last quoted, 211 21J; Grenada Active, 15 16; Ditto Deferred; 51 6; Buenos Ayres, 96 98 ; Ditto Three per Cent Old Stock, 701 71; Ditto New, 561 67; Brazil, 86 87 ; Spanish, 494 504; Ditto Deferred, 401 41; Ditto Certificates, 54 54; Victor Emma. Money has been scarce in this market, and the rate has ruled from 54 to 6 per cent. rise in values has taken place. Midland Stook, although not at the highest figure reached, is firm, at 1374 1371, at the least 15 per cent improvement upon last week ; Great Western, 745 75. In other Stocks and Shares the advance ranges from 5 to 1 per cent ; Caledonian, 98 984; Lancashire, 884; Great Northern, 112 114; Great Northern A, 110 112; North Staf- ford, 155 155 ; London and South-Western, 95 954; Chester and Holyhead, 53 531 ; Edinburgh, Perth, and Dundee, 284 29. French Shares have been Lombardo-Venetian, 11 15 ; Paris and Strasbourg, 22 23; Midi, 19 20; quoted ex dividend ; East Indian, 981 994; Great Indian Peninsula, 96 97. Madras, 93 94. Ocean Marine firm at 3444; Universal, 14 15 ; Thames and Mersey, 14 15. Joint-Stock Banks have been dealt in rather more, and prices are well supported ; London and Westminster, 64 65 ; City, 71 73; 1195 1195; London and Brighton, 117 119 ; South-Eastern and Dover, 88
ne', 93 94 ex div. ; Sardinian, 82 83 ; Russian Five per Cents, 104 106. The Foreign Stock Market has been dull and inactive, and quotations A large business has been transacted in Railway Shares, and a general
London Joint, 30 31 ; Union, 26 27. Saguia:0AX, TWELVE O'CLOCK.
The belief that an Indian Loan for 3,000,000/. will speedily be brought out in London, coupled with the intelligence from Bombay published this morning, caused the Funds to open heavily at a decline of 5. Consols are now 924 925 with a strong downward tendency. Foreign Stocks dull. Railway Shares rather lower. A moderate business is doing all round.
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