The Express.
London, England, 1863-11-12 00:00:00

MONEY MARKET.-(THIS DAY.)

Two eatocs.

At an early hour this morning it was intimated
from the Bank of England that the weekly
court of directors had made no alteration in
the rate of discount. This announcement

accords with the impression which became prevalent
yesterday afternoon, and has led to-day to an im-
provement in the general tone of the stock markets.
Funds have not varied much, but Consols are quoted
I per oent, better for money. In home railway
stocks there is an average recovery of I to I per
cent. The chief rally is in the more speculative
kinds of foreign bonds. _ _ _

M Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rental opened
at 87fr. 400., being fully j per cent. better than yes-
terday.

Consols are now quoted 92/ to 1, cum div., for
money, and 911, " sellers," ex div., for the account
(Dec. 3). The official business report is as follows :
—Three per Cent. Consols, for money, 92/, 1,1, 1 ;
ditto, for amount, 911 ; Three per Cents. Reduced,
901, I, ; New Three per Centa., 901, /,
; India Five per Cent. Stock, nei, ;
ditto Bonds, par, 7e. prem. ; Five per Cent.
" enfaoed " rupee paper, 1061, 105 ; and Exchequer
Bills, 86., 4s. dis.

The foreign stock market, though inactive, is
better. There is a recovery of Ito } per cent. in
Spanish Passive, Mexican and Greek Bonds,
and Turkish nemonlidAn %di^. ,••••
likewise firmer. Some of the present quo-
tations are annexed :—Turkish 18b4 Loan,
91 to 92 ; ditto, 1868, 69} to f ; ditto,
1862, 70} to 71; the Coneeliddei 48}
to ; Greek, 30{ to 31} ; Mexican, 39}
to 40 ; and Spanish Passive, 341 to 1.
Transactions are recorded as follows :—Brazilian
Old Five per Cents., 99} ; ditto Four-and-a-
Half per Ceuta., 1863, 871 ; ditto, scrip, I
die. ; Belgian Four-and-a-Half per Cents.,
97*, ex div. ; Dutch Certificates, 100} ;
French Three per Cent. Renter, 66fr. 500. ;
Egyptian, 99}, 1 ; Greek, for account, 31}, 301,
31} ; ditto Coupons, for account, 141, ; Italian, for
account, 711, ; Mexican, for account, 391, }, 1 ;
Peruvian Four-and-a-Half per Cents. 1862, 86} ;
Portuguese Three per Cents., 1856, &c., for account,
494 ; Russian Three per Ceuta., 65} ; ditto Five per
Cents,lB62, 871, 881, ex div. ; Spanish Passive, for
account, 34, 1; ditto Certificates, for account, 134 ;
Turkish, Six per Cents., 1854, for account, 92 ;
ditto, 1868, for account, 691 ; ditto 1862, 71;
ditto, for account, 701, }.
International Financial shares are now quoted
4 to 1. prem. ; General Credit, 21 to j
prem. ; London Financial, 5} to 6 prem. ;
Hudson's Bay, 1} to If dia. ; Egyptian
Trading, 2} to f prem. ; Anglo-Austrian
Bank, par to f prem. ; English and Swedish
Bank, 2} to 3 prem. ; National Steam, 41
to 61 prem. ; Australian Land and Mortgage, f to
1 prem. ; Mercantile Credit, 3} to f prem. ;
Mortgage Bank of India, 21 to 3 prem. ;
Discount Corporation, 84 to I preen. ; Mentz'.
Metal, f to f prem. ; and Merchant Banking, 41 to
51 Prom
Within the last two or three days indications of a
slightly more favourable character have arisen. The
foreign exchanges have improved, while the with-
drawals of gold for exportation have slackened.
Moreover, the tone of the silver market is again
rather flatter, owing to the announcement that the
Indian Council will, until further notice, draw to
the extent of 900,0001. per month upon India,
instead of 700,0001. This is tantamount to 200,0001.
lea in silver being sent each month from England
to the East than would otherwise have been the case.
One of the most satiatactory features of the moment
is the general agreement that there is no commer-
cial unsoundness. A sudden rise in the value of
money, as the events of the day have once more
proved, does not necessarily mean commercial
embarramment.
- - - - - - - -

For the auction of the foreign redeemable (pas-
sive) debt of Spain, which will take place on the
30th inst. at Madnd, the sum nominally assigned
by the government is 11,577,880 realm.
No gold transactions occurred at the Bank yester-
day. The amounts immediately required for
Brazil and Alexandria have now been obtained, and
no further withdrawals for those quarters are ex-
pected just at present. Further sums may be
needed for the latter destination, however, in
about a week.

-
The True Briton has arrived from Melbourne
with 29,490 ounces of gold, and 20,000 sovereigns,
makingin x)1138,0001. The amount of Australian
gold known to be now at sea is 247,50(1,
The Elora will take to-day 656,5901., of which
444,3001. is silver, and 58,9001. gold for Bombay,
and 153,3901. gold for Alexandria.
At the special meeting yesterday of the share-
holders of the Union Bauk of Australia (the early
report of which appeared in the Slime) it war
decided to increase the capital from 1,000,0001. to
1,250,0001., by the issue of 10,000 new shares of
26/. each, at a premium of 201. per share—the
amendment in favour of tbe issue of these shares
at 301., or 51. premium, was last.
The London and North Western Railway traffic
return shows this week an increase of 3,7651. over
last year ; the London and South Western, an in-
crease
of 8231. ; the Great Northern, an increase of
2,5751. ; the Great Western, an increase of 1,3861. ;
and the Great Eastern, an increase of 2,0971.
A call of 51. is to be paid on the Aare; of the
Bask of Wales by the 7th December.
A second instalment of 21 is to be paid by the
30th inst. ou the Extension shares of the Metro-
politan Railway Company.
The share certificates of the Southampton Im-
perial Hotel Company (Limited) will be ready for
delivery on the 16th inst.. and those of the Star
and Garter Hotel Company (Limited) on the same I
We have received a copy of the prospectus of the
Qneeneferry Alkali Company (Limited). It ap.
pears that this company was originally formed as
a co-partnership with limited liability, with a •
capital of 20,0001. in fully paid shares, but a'
general meeting of the shareholders has affirmed
the advisability of enlarging the capital to
50,0001. by the issue of new shares. These ,
are now offered to the public. The appeal
is evidently addressed to the investing as
distinguished from the speculative classes for the
shares are of the heavy denomination of 1001. each,
of which 101. per share is to be paid on application,
151. on allotment, and 251. six months afterwards.
The company has obtained a lease for 99 years of
premises near Queensferry, Fliutshire, enjoying
peculiar advantages as regards transport, inasmuch
as it is bounded on one aide by the Chester and
Holyhead Railway, and on another by the River
Dee. The most profitable branch of the tusineu
is stated to be the manufacture of caustic soda,
which the directors accordingly propose to develop
as much as possible.
The Great Western Railway Company of Canada
intimate that " the loss on exchange by the conver-
sion of American money received for the carriage
of through traffic from tbe commencement of the
current half year to 24th October, 1863, amounted
to the sum of 44,156.59 dole., and at that date
there was a further Ruin of American funds still
remaining to be converted of 36,623.07 d01e.."
The business of the "Discount Corporation"
will be oommenced at 34, Abehurch-lane, on Mon-
day next, the 16th instant.
The letters to unsuccessful applicants in the
Mercantile Credit Association were sent out last
night.
With reference to the English and Swedish Bank
(Limited), it appears that intimation has been

recei►ed by telegraph that the lists of applications
(*bleb are numerous) are on their way from
Gothenburg and Stockholm. These lists will &Mee
in a day or two, sad thus enable the directors to
make the allotment early in the ensuing week.
We are requested to state that the share list of
the Lundy Granite Company will be closed on
Saturday next.
With reference to the martet for American
securities, Mr. E. F. Satterthwaite reports as
follows :

---- • - •
The same inactivity which we notified last week continues
to chsracteriee the market in London for American sessiri-
the. and in the absence of business pion hays a downward
tendency. The demand on Dutch account shows a Gong.
derable falling off during the past week.

Witonanar Emma.
Consols, which closed yesterday at 911 to }ex
div. for the 3rd Dec., were first marked to-day 91},
and closed at 91} to 11. For money the last price
was 92} to } with div. The official business report
is as follows:—Three per Cent. Coosa's, for mousy,
921, I, ; ditto for account. 91}, 4 ; Three
per Cents. Reduced, 90}, I ; New Three
per Ceuta, 904, }, }, 4 ; Thirty Years An-
nuities, 1885, 141 ; India The per Cent.
Stock, 1081, 4 ; ditto Four per Cent., 100} ; ditto
Four per Cent. Debentures, 1864, 99} ; ditto
1864 or 1866, 991; Five per Cent. " enlaced"
rupee paper, 105}.
Exchequer Bills were flat at fle. to 4s. die.
The foreign stock market was flat, and prices
showed an unfavourable tendency, though closing
somewhat above the lowest point of the day.
Discount Corporation shame, after standing at
91 to 10 prem., closed at 9} to 4 prem. In prepa-
ration for Friday's sattlemenutatinni 'Bl/jar
for the loan of these shires till the end of No-
vember.
Ocean Marine shares were last quoted 11} to
12 prem. ; Thames and Mersey Marine, 41 to
prem. ; Oriental and General Modus, 1} to 11
prem. ; Commercial Union, 3} to 34 prem. ;
London and Provincial Marine, }dia. to }_prem• ;
Universal Marine, par to } prem. ; aad English
awl Scottish Marine, } tof prem.
Land Mortgage Bank of shares were nomi-
nally quoted 2} to 2} pram. ; Littlehampton and
Honfleur Steam, 1} to 2} pram. ; Anglo-Austrian
Bank, par to } pram. ; Mercantile Credit, 2,1 to 3
; East London Bank, 2} to I poem ; Monts's
ireful Company, } to } prem.; National
44 to 5} prom. ; English and Swedish Bank,
to prem. ; Gloucastenhire Smelting, }to 1
prem.; Constantinople and Alexandria Hotels, 1 to
2 prem. ; Central Darjeeling Tea, } to 4 prem. ;
City and County Assurance, } to 1} prem. ; Lundy
Granite, } to 4 prem. ; and Australian Mortgage,
} to 1 prem.
The shone of the Merchant Banking Company
opened at 3 to 3} prem., and closed at 4} to 5
premium.
Nova Scotia Goveinment Debentures were
heavy.