The Express.
London, England, 1862-10-30 00:00:00

3.

MONEY MARKET.-(THIS DAY.)

RISE I 1 THE BANK RATE OF DISCOUNT.

Two o'CLocr“

The directors of the Bank of England, at their
weekly court to-day, have raised the minimum rate
of discount from 2 to 3 per cent., being an
advance of 1 per cent. It had not been
generally anticipated that a rise of more than 1 per
cent. would have been decided upon to-day, yet
the Bank action has produced no bad effect.
The funds opened this morning with more firm-
ness, and an advance of 1 per cent. was attained.
This improvement has not been fully supported
up to the present hour, but prices are still
quoted 1 per cent. higher than they elostd.
yesterday. English railway stocks (in which, as
well as in foreign titocks, this is settling (lay)
remain without striking alteration. Foreign
securities are generally firmer.
At Paris this morning, according to Mr. Rcuter's
telegram, the Three per Cent. Rentes opened at
701 r. 90c., and subsequently declined to 70fr. 82c.,
being to 1 per cent. better than at the close
yesterday.
Consols are now quoted 931 to 1, both for money
and the 6th of Nov.,mber, and 934 to 1 for the 4th
of December. The official business report is
as follows :—Thrtv per Cent. COlll4OlB, for
money, 934, 1 ; ditto, for account, 931,
4,4, 4, ; Three per Cents. Reduced, 911, 4 ;
New Three per Cents., 911, 4, 2 ; Thirty Years
Annuities, 1885, 15/, 15 ; Red Sea Telegraph,
214 ; Bank Stock, 236 ; India Stock, 2297 ;
ditto Five per Cent. Stock, 1094, 4 ; ditto
Bonds, 335. prem. ; Five per Cent. " enfaced "
rupee paper, 1042, lt}sl ; Exchequer Bills, June,
21s. prem. ; ditto, March. 16a., 19s. prem.
The transactions in foreign stocks have not been
very numerous, but prices are firm, with a
favourable tendency. The scrip of the New Turkish
Loan has risen to to 1 prem. The Loan of 1854
is rather better, at 82/ to 831, and that of 1858
at 69 to 1. The Consolidda are steady at
374 to 1. Russian scrip is quoted 14 to 1/ prem.;
Venezuelan, 3to 1 prem.; Peruvian, 2 to 11 dis. ;
and Portuguede, 21 to 21 prem. Greek and
Spanish Passive Bonds are in request, and
Mexican firmer. Transactions are recorded as
follows : Equador New Consolidated, 18,
177 ; Greek, 134, 1, 13, ; Mexican Three
per Cents., 33 ; ditto for account, 331;
324 ; New Granada ex overdue Coupons,
and Hectares, 101, 10 ; ditto Deferred, 5 ; ditto
Deferred, ex Hectares, 11 ; Peruvian A Scrip,
14, die. ; Portuguese Scrip, 2d prem. ; Rus-
sian Four-and-a-Half per Cents., 93 ; ditto
Four-and-a-Half per Cents., 1880, 921 ; Spanish
Passive, 22, ; Turkish Six per Cents., 1854, for
account, 83, ex die. ; ditto, 1858, for account, 691,
; ditto, scrip, 1, 1 prem. ; ditto paid-up, 68/.
The amount of gold withdrawn from the Bank
yesterday for exportation was 48,0001. ; making an
ascertained total o: 350,0001. since the date of the
last return, when the aggregate of coin and bullion
held was 15,912,099/.
The steamers City of Washington and Saxonia,
from New York, have brought a total of 274,0001.
in specie, which will be sent to the Continent, to
pay for silver.
The present quotation for bar silver is ss. 14d.
per ounce, being 4d. above that recently current.
The advance is caused by the activity of the demand
for Bombay.
It is stated, and we believe correctly, that Sir
Charles Trevelyan will go out to India as finance
minister, in place of Mr. Laing.
The London and North Western Railway traffic
return shows this week an increase of 2,5921.; and
the London and South Western an increase of
1,8811.
The half-yearly meeting of the Demerara Rail-
way Company is called for the 30th instant in
London.
With reference to the market for American secu-
rities, Mr. E. F. Satterthwaite reports as follows :
Since our lout of this day week, the market in London for
American securities suffered • serious relapse on the re-
ported doings of Commodore Wilkes, at Bermuda, Erie
snares declining to XI, and Illinois to 47 discount. The
market for Sim, however, has since recovered, and closes
strong for both stocks at an advance of 4 dots. per share on
Erie, and 2 dole. on Illinois. Transactioos in State stocks
and railroad bends have been very limited.

WEDNISDAT EVElinfO.

Consols, which close' yesterday at 931 to fr
both for money and the 6th November, opened
this morning at the same quotation, and after de-
clining for a moment to 931, "sellers," closed at
931 to 4. For December the last price was 934
to 4, or equal to 911 to 92 ex div. The official
business report is as follows :—Three per Cent.
Console, for money, 931, 3, f, 4,4, tl ; ditto for
account, 931, 0 ; Three per Cents. Reduced, 914,
3 ; New 'Three per Cents., 91#, #, ;
Thirty Years Annuities, 1885, lof, 15 ; Bank
Stock, 236 ; India Stock, 230 ; ditto Five per Cent.
Stock, 1094, 4, ; ditto Four per Cent. Debentures,
1863, 101; ditto, 1864, 101 ; ditto Bonds, 305., 335.
prem. ; Four per Cent. "enfaced" rupee paper,
944, 94 ; ditto Five per Cent., 105 ; ditto Five-
an 1-a-Half per Cent., 1123, 112.
Ocean Marine shares closed to-day at 61 to 7
prem., showing a decline upon to-days meet-
ing ; Thames and Mersey, 2# to prem. ;
Universal, 14 to 1.1 die. ; North British and Mercan-
tile, 154 to 10; Commercial Union, 1-16 dis. to 1-16
prem. ; Loudon and Provincial Marine, die. to par ;
leg don arid Colonial Bank, 13 to lifrem.;SLandard.
Bank of British South Africa, 1 to 2 Ken-. ;
Bank of Canada, Nova Scotia, and ew Brunswick,
to 4 prem. ; Buenos Ayres Great Southern Rail-
way, 1 dis. to par ; Metropolitan Cab, 1 to 4 prem.

MINES.-(THIS DAY.)

Two o'CLoci.

The dealers in the mining market to-day are
principally engaged with the fortnightly settlement,
which will be completed to-day, and prices in
most bananas; are consequently quoted the
same t 0,4 yesterday. East Caradon shares
arc still flat, and have further rec.led,
being now quoted 441 to 45. Wheal Litdcott
are quoted to 4; East Carn fires,
134- to • ' North Ruskear,4l to 424 ; and Lady
Scali 'a, 29a. to 31.5. Cambrian Gold shares are
oflicir.lly marked !and prem.; East Caradon, 441 ;
and Wheal Ludcott, llf.
Foreign and colonial mining shares have heck
little dealt in, and prices are without variation.
Santa Barbara have changed hands at ff prem., and
Yudatiamutana at :it*.

The prospectus of the Sovereign Gold Mining
Company, is in circulation. The object is
to purchase and work an extensive auriferon, pro-
perty situated three miles from Dolgelly, in North.
Wales, and in the immediate neighbourhood of
several mines whose gold production has latterly
excited so much attention. It is stated that the
lodes of two successful undertakings traverse the
property of the company now being formed. The
statements made with regard to the richness and
extent of the deposits are autticiently remarkable.
The main lode, for example, varies from 20 to 25
feet in width, and is stated to produce "at the
surface loz. 12 dwtx. of gold per ton." The facili-
ties for working are very satisfactory, as the lode
crops out at the surface to a great extent, and thou-
sands of tons of quartz can be broken
without the labour of sinking. Certifi-
cates are given front assayers showing that
samples of quartz have yielded respectively
from 1 oz. 12 theta. to upwards of 7 ounces of gold
to the ton of quartz. Another advantage consists
in the presence of water power all the year round.
A considerable return is likewise anticipated from
the sale of the refuse powdered quartz. The terms
of the purchase are 5,0001. in cash, and 13,000/. is
shares. The company's capital is fixed at 50,0001.,
in shares of it. each.