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MONBI Market. i LONDON, Friday. Owing to the ittOng continental competition for bills, the discount market is showing yet greater weskuess. ,At such a critical period as the present, when the Bank of England reserve and the stock of bwllion are so low, this falling j away of rates is fntieh to be regretted, as it is useless to keep the .official quotation at 6 per cent. J when the open market working rata is below that figure, Und&f' such circumstances, th& maintenance of exchanges cannot be carried out, I and the replenishment of our stock of bullion becomes almost an impossibility, except through J • the return of coin from circulation. Three months' Bank bills were dons. to-day at 41 to H, and six months' at 3i to 4- per cent. 4 Three months' trade bills were 4 to 5 per cent., and six months'4i to 4i per cent. For loans, a moderate demand was experienced at 4 to 5 per ce;it. for short periods. Paris Cheque Exchange is 25 25 £ Berlin Short, 20'41. St Petersburg thri-e inuuths' are 26 £ Firmer markets have been characteristic of tbe Stock Exchange. Speculation Is reviving, and there is a good deal of buying on conti- nental account. Almost all stocks have parti- cipated in the healthier tone, and should money continue to cheapen, speculation would, unques- tionably, revive in force. As it is, there is no dispositIOn to sell stock, and of the fall which accompanied the late advance in the Bank rate, a considerable portion has already been recovered. Great attention is now being bestowed upon mines. Consols closed at 97 to 97 xd for delivery, and 97 9-16 to 97 11-16 xn for iiccount; 21 per Cnt. (Cbilders'), 99i to 99i xd 2% uer Cane., 94-i to 95 xd. Local Loan block, 102f to 103a xd. Paris continues to hjiy, and tue market, so far as regards International issues, has continued strong. There were fair dealings in Egyptian Unified, which rose to 93, but receded later to 92 13 16. Spanish also were strong. Rumours of financial troubles, notwithstanding, it is difficult to depress this stock. To-day's final prices is i above yesterday. Italian were firm, and Hunga- rian and Russian hardened a little. Turkish sympathised with the firmness in Egyptian. Some issues rose i to In the South American Market Peruvians were strong, closing £ higher. Brazilian were firm. Scrip closed at 8 dis. Bneuos Ayres vèdulaswere steady. The feature of the English Railway Market was the revival of the demand for Brighton A, which is being purchased on dividend rumours. Some optimists are sanguine enough to expect 3 per cent., but it is more likely to be 8.t per cent. That will be a good dividend. South Eastern A closed at 106. Sheffield Deferred Stock was again in demand, and wan a i higher. This is looked upon, like Great Eastern, as a stock with a future before it. Hence its steady absorption, Heavy stocks scarcely varied, but were firm. Caledonian and North British were bath steady. Amongst Canadian Railways, Grand Trunks rallied a little, and left off at a slight improve- ment, Canadian Pacific Shares, on the other hand, were a shade weaker on a few- realisations, but the variations were insignificant in each case. American Railways were a firm market, but Denver issues were wanted, Preferences being specially strong. There was also an enquiry for Wabash issues. Eries, Atlantic's, and Louisville and Nashvilles were all steady but L:ake Shores and Chicago and Milwaukee were rather dull. Amongst Foreign Railways Mexican (Vera Cruz) were firm, closing rather better. Lombards were strong on Paris buying. In the Miscellaneous market Bank shares generally were steady. Nitrate issues were irregular. Liverpool fell 1. Primitiva rose 21. Guinness Ordinary was firm. London Produce Clearing House rose 1. There was more steadiness in the Mining Mar- ket. Copper Shares generally, and Rio Tinto in Particular, were stroug. In South Africans there was strong demand for Golq Fields and Do Beers, Rothschild's Exploration were steady. Katiganlla.Silyar meJt Kith a good deal pf atten- tion. Indian Gold Mines were mostly steady. The following changes have occurred in prices Foreign Stocks :— Rise Buenos Ayres Cedul: T,:1; Monopoly and Rentes, 3; Hungarian, 1881, i: Italiau, Peruvian, 1870, 1; do. 1872. g Spanish, g Turkish Group 1, i; do. Group 2, 2 do. 1871, i; Argentine, 1884 allll 1886 7, 5; do. Extprna) .Lo.<.n, Ig; Brazilian. 1886 and 1888, 2; do. 1879, 3; Buenos Ayres. 1883, 5. Fall—Egyptian Domau;, 4 Mexican, 1888, i; Portuguese, 3. British Radways.—Rise—Caledonian, g East London, i Great Eastern, g; Great Northern Ordinary, 1 do. A, 5 Gre»r- Western, g Hull Barnsley, i; Brighton A, Ii: North-Western, a i; Midland, North Britisn Ordinary, § do. Preference, g; NoiHi Eastern, Sueffielu Ordinary, 1; aud Taff Vai'e Stock, 1. Canadian Railways. Rise Grand Trunk Ordinary, 1-16 and do. First acd Second Prefer- ence, Pitil-Canadiati Pacific Shares, g. American Railways.— Ris«—Chicago and Mil- waukee, k; Denver Shares, i; do. Preference, 2A Louisville and Nashville 2 Erie Shares, wl New York Outat-io, New York, Pennsylvania, and Ohio First Mortgage, â; Norfolk Preference, J; Ohio and Mississippi Snares or Pennsylvania, Shares, A; Philadelphia and Reading Shares, i; Union Pacific, i and Wabash Preference and General Mortgage, 5. "Fall—New York Central, i Erie Second Mortgage, 5 Northern Pacific, and Central Pacibu, 1. Foreign Bonds.—Rise—Lombards, § Mexi- can Ordinary First and Second Preferences, a wnd Buenos Ayres and Ensenada Port Ordinary, b. Fall-Central 'tlrii-uay of Monte, 1 aud Mexican National A, 3. BaDk,Rlse-nk ¡of British Columbia, b; English Bank of Rt.de Janeiro, i Hong Kong and Shanghai, 1 Imperial Banic of Persia, i London and County, London and Soutn- Western, £ Tarapaca, 1 Imperial Ottoman, 1-16. Fall-Enlllish, Scottish, and Australian Chartered, i National Provincial of England, L12 paid, I. Breweries and ^Distilleries. — Rise—Guinness Ordinary, 1 £ all — Emerald and Pheeoix Preference, j Frank Jone3 Preference, Canals and Docfo.—Rise—Sue/ Oanai, 3. Commercial, Industrial, &c.—Rise—Primitiva Nitrate, £ San 'Jorge, J Assam Railways and Trading Preference, ,i <^o- Ore Preference A, 5 London Predttc4 Clearing House, i Salt Union, &; Improved Wood Pavement, 5 Elmore's Patent {-topper Depository. 1. Fall— Bell's Asbesto?, £ 3, Brush Light Ordinary, a City of Santos Improvements, 1 Richard Hornshy and .J Liverpool Nitrate, 1 Stu Pablo Nitrate, 4, Financial, Wad, and Investment. Fall— Oriental Bank Estates, 11 Otago and Southland Investment, A. Financial Trusts.—Rise—Globe Telegraph and Trust Ordinary, g do. Preference, â. Insurance.—Thames and Mersey Marine rose Coal, Iron, and Steel.-Rise- Bolckow, Vaughan, and Co. E12 paid, 4; North's Naviga- tion, J. Snipping.—Rise—Royal Mail Steam, 1. Tea and Coffee.-Rise-Assam, 1. Telegraphs and Telephones.—Rise Anglo- Air.ericau Telegraphic, £ do. Preference, g. Fall-United River Plate Telephone, i Western and Brazilian, .t. Tramways.—Rise—Continental Metropolitan, i London, i North Metropolitan, 1. .Miues.-RIe-Albert Silver Mine A Shares i. to 5j do. B i, to S; Oceana Land Company i. to 15i; Transvaal Land Company 1-16, to 1 pm. Gold Fields of South Africa i, to bi (i, New 7.16, to 31316; Jumpers a. to|l4g; ICniglit-A 1-16, to 1 1316; May's Cousolto;.it.(5it 1-16. to 1 1316; New Gra- hamstowti 1-lktjjA- 13-16; Robiuson's 1-16, to 5j; SpA? 'Bona 116, to 1; De R Beers f. ro 23a to 23; New Jagprsfontpin i, to 1S|; Nu,w,K-Ea £ teru Bulfontein to 4g London and SdnlrfrAfrican Exploration Company i, to 25 xd. B°ohuaualand Exploration Com- pany i. to 3 3-16; The Exploration Company 1-16, to 2 1316 pm. Burma Ruby 1-16, to 1 516; British Broken Hill to 6A Cape Copp"er_~i( to 3 11-16 Glenrook Is 61, to 3s 6 Hi .Mason and Barry 3 16, to 7i; Mysore Uohl: liltf, to 5 916; Nuadydroog 1-16 to F Rio Tirkto i, to 16| Tharsia 41. Fall—Johannesburg Pioneers i. to Stan nope to 6; Vogelstrnis 1-16, to 11-16;- Colon 6d, to 7i.; Day Dawn 61, to 10.. 61 Li|gip(cperlyn 9d, to lis; Tetuan 6 1, to 9s; Victory 9J, to 7s 3d. There wereioo -bullion operations at the Bank. The rates £ ir«oei^ed from the E'1;;t were :—Bom- bay Tele?r&|>!<f( £ tPr«nsfer.=, Is 4 31 32d Calcutta do., 1« 5d Hong Kong 4 Niontlis' Bills, 3i 115-16; and Shanghai do., 4s 5d. as Indian Exo|»an^es are quoted :—Bank bills, 60 day, Is 4Sd 30 days. Is 4 15 16d and demand, Is 5d. Private Bj¡hJ60 days. Is 4H; 30 days, Is 4d 23 32d demitodL-Is 4 27-32 i. Rupee Pa]^Sf4:^r Cent., é8 to 69; do. 4b per 2 cent., 71} to'72? Bar Silver is steady. Bars, 44J(I. TELEGRAII. I BEKLIN, Fiidjty.—The tendency on to-day's Bourse wai#"f^{s^lent, especially for credit shares, which rose trefaiEFy 2 per cent., and Lombards, which gain^'ij^ajt l| per cent. The principal foreign stotis rose abuut it per cent. PARIS, Friday.-Tiio Bourse was very firm and business active, in spite of attention to-day being occupied with liquidation of account in foreign Btocks, shares, etc. Rentes for money and account rose 15c. to 25c. Contaneroes were easyi and at the close of business were 14c. on Italian; ltc. on the Ottoman Bank, 5fc. cn Suez Canal Shares, 41 per cent. on Egyptian Unified, 6c. on Turkish Stocks, 2fc. Xnrkisb Lottery Bonds; i per cent. on Spanish, and 4 per cent, on Hungarian Gold Rente. The tendency was good throughout, and advances in quotations were general. Rio Tinto Shares advanced 6fcs. 87ic. All foreign stocks wcre higher. Cheques were 25-25i. VIENNA, Friday.—The Stock Market was rampant. Home Funds rose i to i per cent. Lom- bard, Ifls. Anglo-Austrian dank, 2fl,; and Lembergs and Credit Anstalt, In. each.

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