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MONEY MARKET. LONDON, Tuesday. The Mouey Market has shown more steadiness. Quotations are hardening up. This is satisfac- tory, as it will cause foreign exchanges to move more distinctly in our favour, and check any re- action m progress towards improvement in the position of the Bank of England. Although there is just now. no inquiry for gold for America, the demand may revive at any moment, and it is well, therefore, to be in -1\ position to meet it. It it not that the inquiry for "money on "Stock Exchange account will be extensive. The charge for short loans has been 4 per cent., and that 13 about the quotation for discounting three months' bills. Continental Exchanges keep fairly favourable to us. The Paris Cheque Rate was telegraphed 25.30, or slightly higher than yesterday. Greater steadiness has been observed on the Stock Exchange. In many instances improve- ment has taken place. The recovery is due at least, so far as can be ascertained, to the closing of accounts for the fall. Scarcity of stock seems to be expected at the settlement, which begins to- morrow and terminates on Friday. Besides, as the year is nor., drawing to a close, there is naturally a disposition to adjust speculative operations as much as possible. For some con- siderable time past speculation has almost invariably been of an adverse character, and endeavours to arrange these operations have brought about the advance noticed. Further re- covery is not at all unlikely, but it is difficult to hazard an opinion in the matter. Mexican Rail- ways are being chiefly influenced at the present moment. Consols were 1-16 to g lower, at lOOi to ICOg for ielivry and r; account. Reduced and New Three jer Cents., 99-3 5 to 99§ New Two-and-a-Half per Cents., 92 to 92g. English Railways have shewn more firmness. Tbere was more doing both in the goods and passenger hnes, and in most instances prices mproved. Great Eastern trafficshows a decreaseof 32,072; Great Eastern rose i; Great Western, North Western, Metropolian District, and South- eastern A, £ Lancashire and Yorkshire and Sheffield Oruiuary, £ do. Deferred, i Brighton A, li Chatham Urdinary, i; do. Preference, i; Midland, §; North British, 4; North- Eastern, f. Indian Railways were quiet, but steady. Bomcay and Baroda rose 2, and Scinde 1. Canadian Railways further improved. Grand Trunks are expected to be scarce on settlement. Ordinary rose -g First Preference, 5 Second, §; Third, The American Railway Market has become very quiet. The recent feverish activity has disappeared, and has been succeeded by a much quieter tone. New York Central rose Wabash Preference, 4 Chicago and Milwaukee, 3 Central Pacific of California fell 11 Louisville and Nashville, :La.ke Shore and Erie, do. Second, g New York Ontario, i Philadelphia and Reading, i. Mexican Railways have again materially im- proved in value on the closing of the "bear" accounts. The traiffc also is unexpectedly favour- able, there being an increase of £ 1,200, the total being £ 17,600. Ordinary rose 3i: First Prefer- ence, 3 Second, 5^ Lombards, 1 16 Varnas, 8 to i better. Foreign Bonds displayed more steadiness. Egyptian, Spanish, and Turkish have all been string, and have closed at an improvement; other issues were quiet. French Three per Cents, rose 4; Ioui"-and-a-ha_if per Cents., Egyptian Pre- ference, Ii: Umiied, i; D;ura and Domain, 5; Hungarian Gold 6 per Cents, and Italian, i; Peruvian 5 per Cents., g Portuguese, f; Spanish, 11-16; Turkish Issues, 4 to j; United States 4 per Cents., i do. 44 per Cents., i; and Suez 4 Canal, -J. As regards Russian, the 1873 loan fell a, but other issues rose to 5. Mines.—-Cooks Jvitcnea lell 1; Rio Tinto and Uniteu Mexican, gj Mason and Barrv rose « • St John del Rey, 5; and West Kitty, 41. Banks.—Imperial Ottoman rose i; Union of London, >>; Chartered of India, Australia, and County fell 4-. Telegraphs and Telephones.—Anglo-American rose i Direct United States, i Eastern Exten- sion, g Anglo-American Preference 14 De- ferred, 4 United Telephone, 5; do., New, Western and Brazilian, g. Mi.cellaiieoris.—Anglo-American Brush Light rose 3 Bryant and May, 3 Lion Brewery, 1 Hammond's Electric Light fell g Foreign and Colonlal Government Trust Preference, 1 Do. Deferred, 1 North British Australasian, 1 of India Five per Cents. rose 1. Fifteen thousand pounds were withdrawn from the Bank for Egypt. The Britannia brought £22,6003 in silver from New York. The Elbe has taken JE300 to the Brazils. The rates telegraphed from the East were :— Bombay and Calcutta Telegraphic Transfers, Is 7 1 16d Hong Kong Four Months'Bills,|2s 8d Shanghai do., 4s 11 fd. The Indian Exchanges are without material alteration, with a (luiet market. Rupee Paper 4 per Cents, 794 to 80; do., U per Cents, 82-g Ito82a- 2 Sil ver was weak. Bars were quoted at 492d Mexican dollars, 49 3-16d. a The Merchants' Exchange and OfficesCompany (Limited), a prospectus of which appears in another page (to which we refer our readers for full particulars of the schema), is now offering to the public 600 shares of ;t;50 each, which will make up the capital of £ 30,000. The 5 per cent. preference shares will undoubtedly be a first- class security, and as it is calculated that the profits of the company will yield from 7 to 8 per cent. interest, the ordinary shares may be ex- pected to prove a very remunerative investment.

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