so short a time. The movement has been brought about, in a great measure, by influences from abroad. In the Paris and New York exchanges speculation has been rampant and persistent for some time past, and this condition of things could not fail to react, in a great degree, upon this market; but, beyond this, there is the now recognised turn in the outlook at home, as regards the trade of the country, as seen in the improvement which has occurred in some of the manufacturing industries, with the prospect thus held out of the advantages to accrue to the railways therefrom. Hence the railway market has partaken largely of the extra business doing on the Stock Exchange, whilst United States and Canadian stocks have been acted upon in sympathy with the excited movement going on in America; and what are called international stocks of the foreign market have moved in company with the speculative fever on the Paris Bourse, though it must be conceded, at the same time, that the better course upon which the Egyptian Government have entered, and the way in which they are getting in the revenue of the country, have imparted a steadier value to Egyptian securities. At the settlement in the middle of the month, the rates for carrying over accounts were heavier than previously had been asked, and the bankers' clearing-house returns showed an increased amount passed through over the previous month and the previous twelvemonth. The political incidents of the month have been in the direction to impart firmness to the stock markets. The gradual settlement of affairs at the Cape, under the auspices of Sir Garnet Wolseley, and the success of General Roberts in taking possession of Cabul, have, in a measure, relieved the public mind. A general improvement in prices in the Stock Markets during the month may be noted. The English Government funds and Colonial Government securities are moderately higher, whilst some of the foreign bonds have risen materially. Chilian bonds mark the highest rise in this class. Argentine bonds and Hungarian gold rentes have improved also; whilst in London banks and English railways a pretty general rise has taken place, and some of the miscellaneous shares, notably iron and coal companies, partake of the advance. NOTICES TO CORRESPONDENTS. Orders and Subscriptions should be sent to the Proprietors, Waterlow & Sons Limited, 25, Great Winchester Street, London. The Editor invites Bank Managers and other correspondents to send him their Bank Reports and other communications early in the month, in order to ensure insertion in the following number; he does not undertake to publish unauthenti. cated communications, or to return such as are rejected. VOL. XXXIX. 70 |