Money-Market and City Intelligence.

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Date: Dec. 5, 1881
From: The Times(Issue 30369)
Publisher: NI Syndication Limited
Document Type: Article
Length: 163,029 words
Source Library: Times Newspapers Limited

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011 0FFO-1881-DEC05-011-001-001 11

MONB Y-MABEET and CITYMTELLIUG4RC1E.

MONB Y-MABEET and CITYMTELLIUG4RC1E.

011 0FFO-1881-DEC05-011-001-001 11

PX.=TWNG-XOV-SQUAUZ,

Saturday Evenirg.

A portiOn af the advances recently made by the Banlk of England to dealers in money in the open mar'ket has been repaid to-day,no application for renewal having been received. In other respects business has been quiet at rates as previously quotel

The return of the New York Associated Banks issued tlis aiternoon is fully in accordanco with the accounts of renewed stringency in the Ne'w York Money Market which have been telegraphed during the week. The reserve has diminished by the sum of £280,000, the specie having fallen off £340,000, while the legal tenaders have increased £60,000, and the surplus of the reserve above the legal minimuim of 25 per cent. if the deposits required to be held has been 'urned into a deficit. The deposits are now

57,280,000, of which one-fourth is £14,320,000, lwhile the amount of the reserve is £14,240,000 only, so that tbere is a deficiency of £80,000. The American National Banks being prohibited from lending while their reserve is below the legal minimmum required to be held, the state of the MIoney MIarket in Newv York during the last few days is fully accounted for. Ihe stringency is probably temporary only, but it is severe while it asts, The return of the Imperial Bank of Germany, also issuied this afternoon, allowing for the ususl changes at the end of the month, appears to show rather an inctease of ease in the Berliu Money Market. The cash has increased £:230,600, and an increase of £917,900 in the note circolation, which by itself would indicate a tendency to dearer money, is no doubt caused by the usual fauctuations at the end of tho month.

Consols opened slightly firmer, but soon became .ather easier. Towards the close, however, the tendency again improved, and the final prices were 1-10 tog. higher for the day at 99} to 99a for money and 997 for the account. NeCv Three per Cents. and Rednced are unchanged at 99; to 99U. Board of Works Three per Cent. Stock advanced , and renewed firmness was also shown in the market for Colonial Bonds.

In the Home Railway Market business bas been limited, and the fluctuations in the leading stocks have been ooly fractionaL The Canadian Railway Market has been firmer, Grand Trunk 2d Preference Stock having advanced 1 and the 3d about J. The American Railway Markot was quite neglected. In the Miscellaneous Markets, Mexican Railway shares were largely offered, and there is a fall of 3 in the Ordinary ani 2t in the Pre-

,erred. Hudson Bay shares advanced i. A steady 3usiness continues to be transacted in Bank shares t advincing figures. There has also been a further rise in the shares of the Electric Light Companies, those of the Anglo-American Brush Light having risen J to J.

The rise in the price of Foreign Stocks continued to-day, the feature being the strength of Turkish descriptions. The General...

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Gale Document Number: GALE|CS184729989