The Express.
London, England, 1864-06-24 00:00:00

MONEY MARKET.- (21118 DAL)

Two o'CLoow.

The unfavourable statements made by Ministers
in parliament last night with regard to the impend-
ing break up of the Conference, have caused
increased discouragement amongst the speculators
in public securities. The funds are flat, though
scarcely lower than they closed yesterday,
while most other stocks have experienced a further
decline of moderate amount. The speculative foreign
bonds—especially Spanish Passive—continue to
suffer the most.

The discount market is firmer to-day, with an
increased demand, but there is no pressure. The
lowest rate for three months' bills is 6 per cent. In
the Stock Exchange the terms for short loans on
English government securities have advanced to 54
to 6 per cent.
At Pali* to-day (according to Mr. Renter's
telegram) the Three per Cent. Routes opened at
65fr. 65c., showing a reduction of 4 per cent.
compared with the last price of yesterday.
Consols are now quoted 891 to 1, ex div.,
for money, and 891 to 1, ex div., for the account
(July 8). The official business report is as fol-
lows :-Three per Cent. Consols, for money, 891,
4,1, 4, 3 ; ditto for account, 891, 3 ;
Three per Cents. Reduced, 884, 4,4, ; New Three
per Ceuta., 884, 4 ; India Five per Cent. Stock,
1044, 4, 4 ; Exchequer Bills, March, 88., 3a. dis. ;
ditto June, ss. dia.
Foreign stooks are generally weaker. Spanish
Passive Bonds are 4 per cent. lower, at 28 to 4 ;
Mexican, 4 to 4 lower, at 421 to 4 ; Turkish Bonds
of 1862 and the Consolid6s, 4 to 4 per cent lower,
at, respectively, 70 to 4, and 474 to 4 ; and Greek
4 lower, at 221 to 23 ; Confederate Bonds are steady,
at 62 to 65 ; and Russian scrip at 34 to 1 prem.
Transactions are recorded as follows :--Chilian Three
per Cents., 774 ; Dutch Certificates, 994 ; Egyptian,
101 ; Greek, for account, 224; Italian, for account,
69 ; ditto Maremmana Railway, 76 ; Mexican,
for account, 424, 43, 424 ; ditto Six per Cents.,
scrip, 4 dia. ; New Granada, 121, 12, ex
div. ; ditto Deferred, 74 ; Portuguese, 1856, &c.,
44, 4 ; Russian, 1862, 861, 4 ; ditto 1864,
scrip, 34 prem. ; Sardinian, for account,
83, ex div. ; Spanish, for account, 521 ;
ditto Passive, for account, 281, 4, 28 ; ditto Cer-
tificates, for account, 10 ; Turkish, 1862, for
account, 704, 4, 70, 4 ; Venezuela, for account,
224.

international Financial shares are now quoted
4.1 to 5 prem. ; General Credit, 21 to 1 prem. ;
London Financial, 11 to prem. ; Imperial and
Mercantile Credit, 2to prem. ; and Hudson's
Bay, 18} to f.
The arrival of 165,0001. in specie is announced
to-day. The SL Dunstan, from Otago (New
Zealand), has brought 72,0001. ; the Pride
of the Ocean, from Melbourne, 15,0001. ; the
Teutonia, from New York, 10,0001. ; and the York-
shire, from Port Phillip, 68,0001.

Fotra o'CLocx.

Consols are quoted 89f to 1, ex div., for money,
and 89; to 90, ex div., for the account, being
fractionally better than at 2 o'clock

The market for the shares of the new
undertakings bas now become very dull, and
as regards many of them dealings are difficult.
How they will ultimately rank in the market is
becoming now, more than ever, • question of
merits. Solid undertakings will probably suffer
but little, apart from the check naturally given to
pries* by the constantly accruing calls, but weak
oducerns will experience difficulty in carrying on,
and in some instances amalgamation will probably
be resorted to. Meanwhile, one of the advantages
to be derived from an nuoertain state of affairs like
the present coetists in the discouragement under
which all unsound enterprise must labour.
The belief being entertained that Prussia will not
recede from her arrogant pretensious, the question
as to the future attitude of Austria is becoming one
of increasing importance. In some quarters a dit-
foram° between the two powers seems to be ex-
pected. The question as to the course to be taken
by our government is naturally the subject of still
keener discussion. It being believed that a section
of the British Cabinet is in favour of the adoption
of measures of the strongest possible character, it is
fully expected that, if only to conciliate them,
some action—possibly only in the nature of a de-
monstration—will be taken, and the proceedings in
parliament during the next few days will be watched
closely, as likely to show what the nature of that
action will be.

About 18,0001. in gold was withdrawn from the
Bank yesterday for exportation.
The quotations of exchange from India and China,
just received, show no movement of importance
compared with those last to band.
The Daily News publishes au interesting report
from the governor and committee of the Hudson's
Bay Company, who have just declared a dividend
of 13s. per share.
Through the Oriental Financial Corporation
(Limited) the prospectus was issued last even-
ing of a new company for growing tea
in India, under the title of the Borokai
Tea Company (Limited). The Borokai estate is
situated in the province of Cachar, to the east of
Sylher, and adjoining the district of Assam. The
estate comprises 2,500 acres, of which 100 acres are
under old plant, 200 acres under plant of 1862, and
300 acres under plant of 1863. The net profit of
the present year is estimated at 3,000/, and that of
next year at 5,0001. The purchase money, including
the present year's crop of tea and seed, is 27,5001.,
and the " reasonable working expenses of the
estate from the Ist of April lest," of which a por-
tion is to be taken in shares. The direction is
respectable. The capital is 100,0001., with a first
issue of 50,0001., in 5,000 shares of 101. each.
The following is the report of the directors of the
London and Brazilian Bank, to be submitted on
the 4th of July :

The directors, in submitting to their co-proprietors the
berince-slieet for the half•year coding 31.1 December,
1863, have to congratulate them on the present position
of the beak, and on the steady ionises., of its banner.
The accompanying accounts show a net profit for the
second hallyear of 15,5311. 4.. Bd., alter making due
allowance for all bed and doubtful debts. Out of this
sum It is proposed to pay a dividend free of imams tax of
U. is. per abase, &menials( to 13,6501. (being 6 per coot
on the capital paid up on 31st December, 1863), and to
carry forward the balance of I,BBli. 4s. &L to the credit of
the nest amorist. The breech.. now established are
Rio de Jarieiro. Pernambuco, and Rio Grande do Sol in
Brazil, end Lisbon and Oporto in Portugal. That at Bahia
will commence business ea let July, and them is every
reason to believe that the combos:mid operations of them
eateblishmeets will secure most satisfactory results. In ac-
cordance with the decision announced is the last report,
the directors petitioned parliament for a private bill to
authorise the division of the sharer, but they regret to my
that they were minicamera both la their patine*, and also
is a subsequest appikesios to goveramost to introduce a
public bill to the are eller& Mr. B. J. Knight having
proceeded to Lisboa as manager of that brume, the direc-
tors have appoisted se merotery Mr. Jobs Bastes, late
manager of the Oporto breech, end formerly secretary to
the Anglo-Portuguese Bonk (Limited). The directors have
also to annouote the appointment of Mr. John George
Goodoir, formerly of Itio.and Bahia, as inspector.
The share oertincatos of the Italian Land Com-
pany (Limited) will be ready for delivery in ex-
change for the letters of allotment and bankers'
receipts, on Monday, the 4th of July.
A second special meeting of the Land Mortgage
Bank of India (Limited) is called for the lit of
July, to oonfirm the resolutions passed on the 17th
instant.

Subjoined is Messrs. Culverwell, Brooks, and
Co.'s report of yesterday's hide sales :
♦t tbsolsointh miss al aids make foe the year, a good

demand was=eneed, and in NOON cases rather higher
prior were
Emit India.—Ox and Cow.—Calcutta of good to fair
quality were in good dimmed, although occasionally Nome
wools were barest irs. The home trade were active
buyers, and to some SUN Dams slaughtered bides of clean
cure realised an advance of id per lb., but prices of other
descriptions remain unaltered. Madras and Bombay, dc.,
sold well. The analysis of the sales is 93,299 Calcutta new
parcels ,• 16,136 brought forward from former males, sad
4,984 Madras and Bombay, de. ; in all 114,419 hides, of
which 76,000 were sold.
East India—Buffalo said well.
Lather.—Fast Indian was in good request at advanced
ties. Australian brought higher prime.
Baited Hides.—Australian sold well at full pricer, to an
advanee did. per lb. Cape were in good request.
Dry and Unsalted Hides—Mauritius brought fair prigs.
Moieties, kips sold well. Dane were in good demand. Per-
mian were fairly competed for, but being a trial parcel,
scarcely realized their full value. . .

fianie Hideo—ffelted South American brought full
prima. North American were le fair request.
Bark.—Mimosa was doll of male, and chafly bought in.
With reference to the silk sales, the circular
issued yesterday by Messrs. Durant and Co. has
the following :

Theperiodial public sales commenced yesterday and ars
concluded. The quantity offered was about 2,300 bales
Bengal silk, 3,700 bales China, and 1,600 halm Japan silk.
The whole was allowed to peas rapidly without any bidding.,
the activity of market having ceased on Friday last. The ec.
manta se to the European crop continue in the same strain.
even the most sanguine not venturing to look for more
than the quantity of last year, while the stock remaining of
old silk is generally believed to be less. Our deliveries con-
tinue upon a very moderate scale.

The return of the Bank of England for the week
ending Wedneeday,June 22, compared with that for
the previous week, shows the following changes :
Circulation issue
Circulation
Public &pout. 9,287,504 Increase 775,283
Other deposits
Cl?vsininsat frouritise in

batiking department 11,122,267 No change
Othersecnrittce in basking
department
Coin and Whoa in both
departments
Seven,day and other brills 452.477 Decrease 17,7.10
The Rest 3,303,455 Increase 15,287
Notes in reserve
Total reserve (notes & ooia
in banking department) . 8,796,331 Decrease 30,024

Both the government and private deposits have
increased, and the aggregate addition to the Bank's
resources would have been considerable bad it not
been for the simultaneous heavy increase in the
private securities. The net result is a decline of
30,024/. in the reserve. The coin and bullion
slightly exceed the amount reported last week, not-
withstanding the occasional withdrawals for ex-
portation.

BANK Or KNOW/13—Am I
and et► vie.. e. 32, tor the week
18a4.

Notes Issued

Eta 280,366

Account pursuant to the Act Ilk
ending on Wednesday, June 21.

tioveiniient debt.. 1.11.015.10.
Other securities 404,900
0011 olio and bul-
lion
811ter bullion ...

mrPerrnlnT.
Government Secu-
rities ((Including
Dead Waling An-
nuity)
Other Baturniss
Noise
Gold and Silver
Coln altd,676

Lts,sso,aos

8418468 DI
Proprietors' Capital 414,868,000
Rost 14104,456
Public Deposita ta-
eluding Sacheq.,
Bay. Basks. Cota-
sala. or National

DOAt,~eed Dtv
Accounts)
Other L 0944114, 11.011,910
Seven dyad other
Bills 44177

stAcidta
Jaw ti, WA

THUIBDAT EVZIFING,

Consols, which closed yesterday at 901 to ex
div. for the Bth of July, opened this morning at
891 to 90, and closed at 891, "sellers." or
money the last price was 891 to 1. The official
business report is as follows :—Three per Cent.
Consols, for money, 89/, 1 ; ditto for account, 891,
1, 90, 891 ; Three per Cents. Reduced, 881, 1, ;
New Three per Cents., 881, ; Bank Stock, 236,
237 ; India Five per Cent. ftock, 1041, 1 ; ditto
Four per Cent, 991 ; ditto Bonds, 541. dia.
The India Five per Cent. Stock was steady. Lndia
Bonds were dealt in at ss. die. Exchequer Bills
were unaltered, the March at Ba. to 3e. die., and
the June at be. dia. to par.
The foreign stock market opened at a fall, and,
though more steadiness was shown afterwards, 'most
of the principal speculative stocks closed at • mo-
derate reduction from yesterday's prices.
Bank shares remain heavy. A decline has taken
place to.day in Bank of New Zealand, Chartered
Bank of India, Australia, and China, Chartered
Mercantile Bank of India, London and China,
Imperial, LoLdon and Hamburg, London Joint
I Stock, Merchant, and Mercantile and Exchange.
London and Westminster Bank shame were excep-
tionally firmer. A severe fall—amounting to 71.
per share—has taken place in the shares of the
London and Brazilian Bank, which were last
noted 9 to II prem., on the issue of the
'report.
Hudson's Bay shares have declined to 181 to 1,
and Egyptian Trading to 21 to 2; prem, English
and Australian Copper, English and Soottish
Marine Insurance, Joint Stock Discount, Madras
Irrigation, New Zealand Trust and Loan, Nova
Bootie land and Gold, and Rio Improvements
shares were all flatter.

The shares of the financial companies were again
flat. International Financial and General Credit
declined 2a. Bd., and Credit Mobilier, Credit Fon-
der, and London Financial about be. The closing
notations are annexed, vix.:—lnternational, sto
prem. ; General Credit, 21 to 3 prem. ; London
• , 11 to f prem. • Imperial and Mercantile
Credit (amalgamated), 21 to prem. ; Credit Mo-
bilier, 21 to 3 prem. ; and Credit Fonder, 8} to
prem.
The dosing (bat in some cases merely nominal)
quotations for shares in new undertakings are
subjoined, viz. : International Land Credit, 1}
to 21 prem. • Millwall Iron Work; it° # prem. ;
Chamonix Hotel, to 14 prem. Italian Land,
din to prem.; Channel Steam, lto 2 prem.;
York-street Flax Spinning, jto prem. ; Hol-
comb and Co., 1 to lf prem. ; London and
Southwark Insurance, to # Fem. ; and Humber
Iron Works., 2 to 11 dia.
The ship Taronin has been engaged for the con-
veyanoe of government emigrants to Adelaide,
South Australia.

LN,1144,1b7