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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Jun 18, 1864
Page
4
The Weekly Chronicle informs readers it is published every Saturday morning and available at the Publishing office 282 Strand. Subscribers traveling can arrange home delivery, and inquiries on Assurance Banking Mining and Public Companies should be addressed to the Editor at 282 Strand.
The London Gazette reports the Bank of England weekly account under the 7th and 8th Victoria cap. 32. For the week ending Wednesday June 15 1864 the balance stands at £39,618,547 M. Marshatt, Chief Cashier, compares this with the prior week.
Friday afternoon market activity shows funds steady but very inactive. Treasury and foreign quotations range from Spanish Passive 31 to Confederate Loan 65 with English railway stocks mostly steady. Major banks and joint stock shares hold steady with varied prices across listed institutions.
The Bank of England directors lowered the minimum discount rate from 7 to 6 percent at their weekly court on Thursday. The move follows a May reduction from 8 to 7 percent, with coin and bullion rising to £14,304,205 and the note and coin reserve up to £8,826,355. The decision reflects the desire to sustain business at quarter’s end amid steady exchanges and bullion movement.
The market remains firm with discount rooms cutting rates. Bank discount offices show reduced terms for money at call, seven and fourteen days while six percent bills stay in demand. India bills pooled 30,00,000 rupees with Calcutta, Bombay and Madras allocations and varying minimum prices. Gold shipments from Australia and recent dividends on bonds and Danish shares are noted alongside several ships carrying gold to England.
Reprovo Pantechnicon Company limited with £50 000 capital seeks warehousing and removal of effects with premises in Tottenham Court Road and Fitzroy Square. York Street Fox Spinning Company aims to convert Ireland’s largest flax mill into a joint stock with £500 000 capital. Anglo Australian and China Telegraph plans private prospectus for £450 000 to span Rangoon to Singapore. Sarornran Company raises £100 000 to explore Sardinia, railways and trading, with key properties acquired.
Directors inform shareholders that guinea season tickets sales are satisfactory and likely beneficial to the company. Visitor numbers from November 1 to present exceed any previous year, with steady growth since the Palace opened in 1854. The refreshment contract has expired and was offered to public tender.
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