MONEY MARKET AND CITY INTELLIGENCE.

Southland Times, Volume I, Issue 9, 21 June 1864, Page 2

MONEY MARKET AND CITY INTELLIGENCE.

Loxdox, Monday, April 25. Tlio effect of the alteration in the valuo of money on the Stock Markets lias been decidedly unfavorable, aggravated, no doubt, by tho extent of tlio outstanding speculation for higher prices. Tho funds fell £ per cent., aud homo railways and most of the principal speculative foreign stocks to 1 per cent, 'fhe decline extended to Indian railway securities and banking and financial shares. Tho amount of business in the stock markets has sinco been only moderato. Although the most recent indications affecting the Money Market — including the improvement in the Continental exchanges, and tho subsidence of the foreign demand for bullion — are of a more re-assuring character, the speculators have shown indecision. Meanwliilo, bank shares, wliich have lately risen so much, have recoded, and foreign stocks have shown much heaviness. Mexican bonds, and tho scrip of several of tho new loans, havo given way chiefly. The English funds remain comparatively steady. Tho movement thafc had led to the anticipation of a speedy advanco in the Bank rato of discount has been less active siucc tho declaration of the riso to 7 per cent., ou April 16. There was for the noxt following two or three days some doubt whether a further alteration would not be made, and in consequence full rates were hi most cases obtained. Since there has been a loss demand, bufc though no immediate change is now expected, a yet higher rate before long may very fairly bo expected. An impression prevails that some portion of tho gold withdrawn from the Bank is still held hi reserve, and this idea haß probably contributed to the greater ease experienced.