MONEY MARKET AND CITY INTELLIGENCE.

Daily Southern Cross, Volume XVII, Issue 1378, 26 February 1861, Page 3

MONEY MARKET AND CITY INTELLIGENCE.

City, Monday evening, Deo. 24th. The growing ease in the money market having increased and the late of discount for the best bills in the open market having fallen to five per cent., or less, the directors of the Bank of England, at their weekly court on Thursday, 29th November, reduced the minimum late of discount from six per cent., at which it was fixed on November 15, to 5 per cent. The movement was expected, and therefore produced little effect in any quarter. Since this reduction the discount market has remained tolerably easy. The intelligence from China, that the treaty of peace has baen signed, has caused English funds to improve, and consuls have been as high as 93^, since then the market has become gradually flatter, and the limited buainess done has been on easier terms. The Board of trade returns continue to present extraordinary proofs of the growth of the commerce of Great Britain. According to the figures issued for the month of October, the declared value of our exports shows an increase of £514,308, or nearly five per cent., over October, 1859. The annual meeting of the Peninsular and Oriental Steam Navigation Company has been held. After some discussion a resolution was passed in favour of the adoption of the Directors' Report, which recommended a dividend and other payments, in all 5 per cent., making eight and a-half per cent. Since the cessation of the eiflux of gold in France a heavy drain has set in on American account. There is no alarm here, however, as money is plentiful. Colonial Government Securities. — New South Wales 5 per cent. 101 to 102 ; South Australian 6 per cent., 108 to 110; Victoria 6 per cent., 108 to 108£. The half-yearly dividend of the London Chartered Bank of Australia, declared a dividend on December 14th, 3J per cent, clear of income-tax.