The Express.
London, England, 1864-04-16 00:00:00

MONEY MARKET.-(TEIS DAY.)

RISE IN THE BANK RATE OF DISCOUNT.
Two o'CLocw.

The advance in the value of money has come even
sooner than was expected. The Directors
of the Bank of England have this day raised the
minimum rate of discount from 6 to 7 per cent.
The character of the recent Bank accounts bad pre-
pared the commercial public for this step, which,
however, from its occurring on an unusual day, has
excited a good deal of attention this morning.
The effect upon the stock markets has been un-
favourable. The fund/ have fallen 4 per cent. ; the
speculative foreign stocks 4 to 1, and some of the
home railways to 4.
At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Rentes were quoted
66fr. 65c., being sc. better than yesterday.
Consols are now quoted 911 to for
money, and 911 to 3 for the account
(May 5). The official business i report is as
follows:—Three per Cent. Consols, for money,
91/, 1; ditto, for account, 911, a ; Three
per Cents. Reduced, 894, 1; New Three
per Cents., 891, 1 ; ditto Two-and-a-Half
per Cents., 734 ; India Five per Cent. Stock, 1054;
Five per Cent. " aniseed " rupee paper, 104 ; and
Exchequer Bills, 5a., 10s. dis.
A general fall, varying from to 1 per cent., bas
taken place in the more speculative kinds of
foreign stocks, the present quotations for
which are subjoined, viz. :—Mexican, 461
to 47 ; Greek, 244 to 25 ; Spanish Passive,
343 to 35 ; Turkish Consolidfs, 524 to 1 ; and
Confederate, 53 to 55. Transactions are recorded
as follows :—Brazilian, 1863, 884, 871, ex div. ;
Chilian Four-and-a-Half per Cents., 844 ; Dutch
Certificates, 1004, ex div. ; Equador, 14 ;
Egyptian, 101 ; ditto second issue, 101, 1004 ;
Greek, for account, 243, 25 ; Italian, for account,
671; ditto Maremmana Railway, 754 ; Mexican,
for account, 473, 47, 4, 464 ; Moorish, 95 ; Portu-
guese, 1853, 491 ; ditto, for account, 491 ; ditto,
1856, &c., 494, 49, 4 ; Russian, 1850, 883 ; Sar-
dinian, for account, 864; Spanish, for account,
354, 341 ; ditto Certificates, 123, 13 ; Turkish,
1868, 1001. Bonds, 704, 73 ; ditto, 1862, for ac-
count, 711, 72, 714 ; Venezuela, 1862, for account,
59, 584.

International Financial shares are now
quoted ci to 71 prem. ; General Credit, 5!
to ; prem. ; London Financial, Ilk to prem. ;
Hudson's Bay, 19} to 20 ; Mercantile Credit, 104
to 114 prem. ; Egyptian Trading, to
prem. ; Credit Mobilier, 51 to I prem.; Imperial
Financial, 44 to 5 prem. ; Credit Fowler
(Great Britain and Ireland), 74 to 8 pram ;
City Offices Company, 24 to prem. ;
Fore-street Warehouse, 34 to 4 prem. ; Lem-
berg Railway, par to Jr prem. ; International
Land Credit Compan►, 2 to * prem. ; Tele-
graph Construction and Maintenance, 2 to
prem. ; Millwall Ironworks, 2l t, 3 prem. ;
Imperial Bank of China, 34 to 4 prem. ; Oriental
Financial, par to 1 prem. ; and City of London
Real Property, 1 to 14 prem.

Harr-pair Two o'Ciocm
Consols remain at 911 to 4 for money, and 911
to 1 fur the account.
It is said that an act has passed the Southern
legislature which interposes a new item of coat to
the operations of parties who oozitemplate running
the blockade in order to get out cotton, and which
makes the Confederate Cotton Bonds more available
than they were before as a means of payment for
this article.
The Paris journals contain the prospectus of the
New Mexican Loan, which is expected to make its
appearance in the London market on Monday. The
amount of the loan, as announced in Paris, is
18.600,000 f. 'of annual Bente, which includes
6,600,000 f. of Bente to be paid to the French
government on account of the war indemnity. In
Franc* the Credit Mobilier Society, and in London
Messrs. Glyn Mills, and Co., have charge of the
loan. Subscriptions will also be received at Am-
sterdam and Turin, and throughout the French
Departments. The list is to be closed on Saturday,
the 23rd inst. The price of issue is 63 per cent.,
and there is a sinking fund of 1 per cent, per
annum.

The foreign exchanges yesterday afternoon pre-
sented no alteration of importance, with the excep-
tion of the demand for bilL on Austria. The rates

were u follows :
Amsterdam. 3 naoatba, 11.19 to 1 : ditto, 3 days,
ILI6 to 1; Rotterdam, 3 mamba, 11.19 to I ; Aot-
weep. 3 'nestle, 25.471 to 321; Bamberg, as Maim, 3
mouths, 13.71 to I ; Paris, 3 days, 25.15 to 25 ; ditto. S
months, 25.521 to 71 ; Fnutkfortoto-thirMaine, 3 lamas,
1191 to ; Bt. Petenburg (per rouble), 3 mouths, 33 to 1;
Vilma, elf. do., 3 smooths, 11.80 to 85 ; Trieste, It. 30., 3
mouths, 11.80 to 85 ; IWrid, 3 mouths, 481 to ; ()Adis. 3
utoatbs, 471 to 148 ; Lartiorm„ 3 months, 25.621 to 671
Goma, 3 maths, 25.621 to 671 ; Milan, 3 mouths,
25.621 ; Naples, 3 Ismaili% 25.621 to 671 ; Palermo. 3
months, 25.021 to 671 ; Yeeeiva, ,3 mouths, 25.621t0 671;
Lisbon. 90 dam 521 to 1 ; Oporto, 90 dark 521 to I.
At Paris and Vienna the rate of discount it the
open market is 6 per cent. ; Hamburg, Berlin, and
Brussels, 4 ; Turin, 7 ; Frankfort, 2 to I ; Am-
sterdam,
6 ; and Bt. Petersburg, 54 per cent.

It is officially announced that the English
and Irish Bank (Limited) will be amalgamated
with the European Bank (Limited), and that
four of the directors of the former undertaking,
including Sir Robert W. Darden, will come
upon the board of the latter. The title of the
united concern will be the European Bank (Li-
mited), and the amalgamation will probably date
from the Ist of June next, when the total paid-up
capital will be about 400,0001. It will be remem-
bered that the Union Bank of England and France
(Limited) commenced operations on the 2nd of
February last year, and the English, Belgian, and
Netherlands Bank (Limited) was subsequently
amalgamated with it, when the title of the joint
undertaking was altered to that of the European
Bank (Limited). The English and Irish Bank
(Limited) commenced business in London on
the 1 lib of March last year, and in Dublin '
on the Ist of July, and the net profit
from those dates up to ember was stated at the
meeting on the Bth of January at 1,9971. It is
understood that the European Bank has made
satisfactory progress. The terms of the arrange-
ment have not yet transpired. The overtures for
the amalgamation are stated to have emanated
from the English and Irish Bank, the position of
which has not been strong. The European
Bank is not compelled by the terms of its charter
to call a meeting of its shareholders to confirm the
amalgamation, but the English and Irish will have
to do so.

The Committee of the Stock Exchange has
ap-
pointed Tuesday next a special settling day in the
ahares of the Credit Mobilier (Limited), and in the
20,000 new shares of the Mercantile and Exchange
Bank (Limited). Both are to be officially marked.
The second ordinary general meeting of the
shareholders of the Bank of Hindustan, China, and
Japan is called for the 2nd of May, when the
directors will recommend a dividend.

It is notified that the share list of the British
Shipownen' Company (Limited) will be closed on
Saturday, the 73rd inst.
The share list of the Joint Stock Companies
Association (Limited) will also be closed on the
23rd inst.

We are also requested to state that the share list
of the British Copper Company (Limited) will be
closed on Wedneadey next at 12 o'clock.
The subjoined weekly report on the bullion
market is from the circular of Messrs. Sharps and
Wilkins :

The market for silver has for the past week been miry
quiet. The Gorden corning forward have bees only on
moderate male, and the supplies being smile, our late
quotation of de. has not been maintained. The dm
by the last West India Mail and some other amounts

still Amain oa hand, col it is thought that a slight Man-
sion in prior will hay* to be submitted to. The If en ion
dollars by the ittrato were pissed at fa. 34d., aad the
market having ben elsaredl at this quotation (with some
few reservations) the prim is Arm. Gold has hiss to me-
siderable demand, a large proportice of the late imports
been at otos takes ap, is addition to which there
have bees moms withdrawals at invereigas from the Bank
ol Hawked.

Fame Evzinni.
Consols, which closed yesterday at 911 to 1 for
money, and 911 to 92 for the sth cd May, closed
to-day respectively at 91} to a, and 914 to ;. The
official business report is as follows —Three
per Cent. Consols for money, 911, 1,4, 4 ; ditto,
for account, 91i; Three per Cents. Reduced,
89}, 1,1, ; New Three per Cents.. 89t, 4,1, ;
ditto Two-and-a-Half per Cents., 731 ; Annuities.
1885, 141, 4 ; Bank Stock, 238 ; India Five per
Cent. Stock, 1061, 105 ; ditto Four per Cent.,
994, ; ditto Bonds, 4s. dia. ; Five per Cent.
"enlaced" rupee paper, 1041 ; ditto Five-and-a-
Half per Cent., 1134.
Indian Government securities were dull. Ex-
chequer Bills have fallen 35., closing at 10s. to ss.
dis., owing to the less favourable state of the
money market.
Foreign stocks were firm in the morning, but
afterwards showed dulness. Mexican Bond. have
declined ver cent, on the day ; Turkish Consolidti
sod Egyptian, 4; and Greek and Italian stock, /
per cent. Sardinian Bonds, however, improved 1,
and Anglo-Turkish 4.
Swedish scrip was last quoted 1 to I prem. ; and
Venezuela par to # prem.
The excitement m the market for bank shares has
continued to-day, and the closing prices, though
below the highest point, are in many instances
materially above those of yesterday. London and
Northern Bank shares Lave risen to 4 prem.
" buyers." London and County, and London and
Brazilian Bank have risen 21., Bank of New South
Wales 31. 10s., and London, Birmingham, and
South Staffordshire Bank 11. 10s. In other stocks
the improvement was less marked. Agra Bank
scow a relapse of 21.
Hudson's Bay shares closed rather flatter, at 201
to 4. Ocean Marine Insurance shares and Scottish
Australian Investment stock have improved.
Mauritius Land Credit shares were weaker.
General Credit shares have recovered to-day,
while Loudon Financial, Imperial Financial, and
Financial Corporation, have receded. Credit
Mobilier and Credit Foncier were in demand. The
closing quotations to-day are annexed, viz.:—ln-
ternational, 7} to 1 prem.; General Credit, 6 to
prem. ; London Financial, 114 to 121 prem. ;
Imperial Financial, 5 to prem. ; Mercantile
Credit, 12 to } prem. ; Credit Mobilier, 6to 6}
prem. ; Credit Foncier 7t to 84 prem. ; and
Financial Corporation, 2t to 3 prem.
The closing (but in some cases merely nominal)
quotations for shares in new undertakings are
subjoined, viz. :—City Offices, 24 to a prem. ;
National Financial, to 1 prem. ; Lemberg and
Czernowitz Railway, }to prem. ; Commercial
Agency and Finance, 4 to lt pram. ; International
Land Credit 24 to 1 prem. ; Telegraph Construc-
tion, 11 to 11 prem. ; Imperial Bank of China, 31
to 4} prem. ; City of London Real Property, 1} to
2 prem. ; Millwall Iron Works, 2} to 4 prem. ;
Fore-street Warehouse, 31 to 4} prem. ; Mauritius
Credit Foncier, par to } prem. ; Ottoman Finan-
cial, per to 4 prem. ; Pernambuco Improvements.
t to 14 prem. ; East India Financial, 2 to 3
prem. ; and Sabloniere Hotel, 2 to 3 prem.
The new shares of the National Bank have been
dealt in to-day at 394.

MINEB.-(THIS DAY.)

TWO o'CLocic.

The mining market is steady to-day, and prices
generally are well maintained. Clifford Amal-
gamated shafts are in demand, and have
risen 155., the present quotation being 34
to 4. Marko Valley are also firmer at
4,1 to 5, East Lovell at 174 to 184, and
Great Vor at 34 to 35. On the other hand,
East Caradon have receded to 304 to 31, and Wheal
Grenville to 11 to 4. East Grenville are quoted 4
to I. The only transaction officially recorded in
the Stock Exchange is in North Crofty shares,
which are marked 5.

Foreign and colonial mining share.' are un-
changed. Alandlloa however, are inquired for.

Great Wheal Vor sale of tin for die nionth is 43
tons 12 cwt., and West Chiverton sale of lead or
170 tons.