The Express.
London, England, 1855-08-24 00:00:00

104 11
110 If x d

100 101

1.11 117

'II
Is
14

iio :::: 931
145 .... 96 11 16
160 .... 100
165 .... 103 6-16

MONBY MABEBT-2HIS DAY.

Two o•CLon.

The English stock market today is perfectly eta-
timely in price, with a very limited buainess.i
Consols remsia at yesterday's closing quotation of
911 to 1 for money and the Bth Sept. The Three
per Cent. Reduced have been dealt in at 911 to 921;
the New Three per Cent. at 923 to f ; Bank Stock
at 216 to 216; the New Thirty Years' Annuities,
1886, at 161 to 16 16.16 ; and Exchequer Bills, June,
at 13 to 16 premium. Omnium is quoted 41 to 4i
premium.

The foreign stock market is quiet. The Scrip of
the new Four per Cent. Guaranteed Turkish Loan
has ranged between 21 and 21 prem., and is
now quoted 21 to 21 premium. Turkish Six
per Cents. are quiet, at 93; to 94. Mexican is quoted
211 to 22; Spanish Deferred Three per Cents, 181
Ito 19; and Ruaian Five per Cents. at 100 to 102•
French Four-and-elialf per Cent. Renter have been
dealt inat 95fr.60c. (exchange, 261 r. 6o.); Dutch Two-
and-a-Half per Cents., at 641; ditto Four; per Cent.
Certificates at 961; Sardinian Bonds at 87 ; and
Brazilian Old Five per Cents. at 103.

The amount of specie brought in by the Pectic,
from Lisboa, is only 4,6461.
In estimating the 'aloes of the two Turkish loans
the following notes may be found useful. It will be
remembered that the sum of 282,0001. arising from
the Egyptian tribute is appropriated towards the
payment of the interest and sinking fetid on both
loans, the preference being given to the 8 per cent.
loan of three millions. The annual charges for the
two loans are—

Interest on the 6 per cent. loin £160,000
Making fond on ditto
- 210,000
Interest on the 4 per cent. loan
Sinking fund on ditto
- 250,000

£460,000
The amount of the tribute money being, however, only
282,0001„, a deficiency of 98,000/. has to be provided foe in
1856, increased to 128,0001. in 1857, when the sinking fund
on the 6 per mt. wan into operation ; and to 178,0001.
after 1859, when the sinking fund on the 4 per cent um-
meson. It is elear, however, that the amount necemary
for the charges on the 6 per cent. loan already exists, so that
the action of the sinking fund will inset with no check on
that side, and it le of course more important to the Ottoman
government to extinguish the loan beuing the higher rate
of Interest.

In the event of the 6 per cent. loan reaching 1001., thel
bends will be drawn by lot, and will in that ease be entirely
absorbed in 1888, assuming that the Turkish government is
not in a position to convert or pay off the whole outstanding
balance (about 2,433,0001.) in 1869.

The relative prime of the two stocks, to pay the same rate
of Interest, would be as under :

81z per Cent. Four per Cent. Bate of Interest.
86 .... 56 11-16 .... £7 1 2
90 .... 60 .... 6 13 4
95 .... 63f .... 6 6 2
100 .... 66 11 16 .... 6 0 0
165 .... 70 .... 6 14 3
110 .... 731 69 0
115 .... 76 11-16 .... 6 4 4
120 .... 80 .... 5 0 0
126 838 4 16 0
130 .... 86 .... 4 12 4
135 .... 90 .... 4 8 10
.... 4 5 8
4 2 10
.... 4 0 0
.... 3 17 5

The dividends on the Six per Cent. stock are payable
April 10 and October 10, and the interest accrued gives this
stock an advantage of per cent. over the Four per Cents.
from February 1 to April 10 and from August 1 to October',
10. On the other hand, the dividend on the Four per.Cents.l
being payable Feb. 1 and August 1, it has a like advantage
off per cent. over the Six per Cent. stock from April 10
to August 1, and from October 10 to Feb. 1. The in-
ane's& value given to the Four per Cent, stook by the gua-
rantee of England end France will be variously estimated,
but it has an additional value as an investment compared
with the Six per Cent. from the circumstance that the
bonds liable to be drawn 11l bear a smaller proportion
to the amount from time to time outstanding than in the
Si: per Cent. Loan. In the latter stock the risk of the
bond being drawn varies during the first five years from
1868 between 1 and 132 per cent ; in the nest five peers
it increases from 1.41 per cent. to 1.91 per cent , while in
the Four per Cent. Loa., the first five yeses from 1869
gives a ratio of from 1 to 1.02 per cent., and in the second
Aesopian from 1.29 to 1.68 per cent.
The value of the premium on the loans must of course be
proportionally diminished by the above liability to be paid
off at 100; and although in the highest of the ratio. given,
the diminished value lie not above 4s. on a premium of 101.
per cont., it will senelbly effect their minket value. At the
same time it must be remembered that, so long as the Six
per Cent. Stock remains below 100, the larger the amount
of the sinking fund, the more beneficial will be the iofiu-
thee exercised upon the market value of the stock.

The Admiralty will receive tenders on the 28th
inst. for the conveyance of huts, in steamers, from
the river Thames or Lowestoft to the Crimea.

The ships Ceres and La Hogue have been accepted
by the Admiralty for the conveyance of stores to
Sierra Leone and Sydney.
The receipts of the Antwerp and Rotterdam Rail-
way Company for the week ending Sunday last,
rose to 1,2931., being 2881. more than has been re
oeived in any one week since the line was opened.
The certificates of shares of the Ardennes Railway
Company, we are informed, are in course of active
preparation, both here and in Paris, and the shares
are expected to be introduced on the Paris bourse in
a very short time. The concession of the Paris and
&isms line is expected to be made from day to day.
It is now stated that the entrance for the Striations
line into Paris will be through the station of the
Rigatoni of France Railway, which line the &Won,
Railway will join at a short distance from the capital.
The concession of the new direct line from Paris to
Tours is also expected to be shortly announced, and
Central of France Railway shares have recently:risen
in price, owing to an anticipated arrangement be •
tween that line and the new company.
The Bank of London commenced business yester-
day at their city establishment in Threadneedle-
street (lately known as the Hall of Commerce), as
well as at No. 460, West Strand. The number of
accounts opened on this the first day of the bank's
operations is stated to have given great encourage-
ment to the parties interested.
An extraordinary general meeting of Price's Pa-
tent Candle Company is called for the 6th Septem-
ber, to authorise the directors to bring the company
under the operation of the new Limited Liability
Act, and to mamas the capital to 750,0001.

THOSSDAT EVENING.

The English funds to-day were rather flatter, with
very little business, but the decline barely amounted
to k per cent. The heaviness observable at Paris
appears to react here, and the entire removal of the
late pressure in the money market has exercised as
yet no counteracting influence.
An impression has prevailed in several well-in-
found City quarters today, that the evacuation of the
southern portion of Sebastopol by the Russians is by
no means beyond the circle ef probability. The enemy
would probably seek to explain away this step by
assigning it to sanitary considerations.
Great ease prevailed to-day in the money market,
the demand being limited and the supply large.
Consols opened and closed et 91/ to 1 for money
and the 6th September, scarcely any variation oc-
curring in the interim. The official business report
is as follows:—Three per Cent. Consols, for money,
91/, 1, ; ditto, for account, 6th September, 911.
Three per Cent. Reduced, 91/, 92, 921. New Three
per Cants., 92/, in!. Thirty Years' Annuities, ex-
piring in Jan., 1860, 3i. Three-and-a-Half per
Cent. Exchequer Bonds, falling payable in 1858,
100},100k. Bask Stock, 214/, 2151. India Bonds,
295. to 30s. pre m.
In the foreign stook market the chief movement
was in Turkish securities, which were weaker. The
scrip of the new Four per Cent. guaranteed loan was
sold as low as 2/ prem., but had recovered at the close
to 2 7-16 to 2 9-16 prem. The Six per Cent. stock
was marked in the morning 941 to 1, fell to 931 to
1, and closed at 941 to 1. Peruvian Four-and-a-
Half per Cents. remain firm. Other stocks are
quiet.

DETENTION OP THE MAIL FOR MADEIRA AND
WIMP COMM OP Antica.—Tbis morning, the followiog
notices was posted at the 0 aaaaaa Post-offiee:—.. West Coast
of Mika, &c.—The wall pallet Gambia, which should in
due comes be &septa,' ken Piyasooth this day, with ills
eagle for the west aseetefAfrita, o:o•, will cot be despatched
wain the let prosise. lOUs% dm, received or posted in
London, up to the swan of the 31st instaat, will he
forwarded by the Gerbils."

MINES.-THIS DAY.

_
Two o'Czoom
The gold mining shares remain quiet. The New
Granada Company's shares have again been dealt in
at 10s.

Australian Agricultural shares are quoted 29i to
301; and Peel River, 21 to 1.
Imperial Brazilian shares have been dealt in at 21.
Sortndge Consols shares continue in demand, and are
rising rapidly ; the price to-day has reached 71.

Annexed is the Mining Exchange official list of
yesterday's sales:—Alfred Consols, 131; Bedford
United, 111, 121; Carvath United, 3; Collacombe,
381, 39, 40 ; Wheal Gasket', 6e., 9s. ; Great Polgooth,
21.135. 6d.; North Robert, 311, 321; North Basset,
29, 291, 291; Rosewarne, 220; South Tamar, 7, 71;
Sortridge Console, 61, 61, 6, 61, 61, 61. 61, 61, 6;
Silver Bro-k, 25., 2s. 6d. ; Tassan Lead, 24., 2e. 3d.;
West Basset, 301, 311 ; Weer Sortridge, 9s. 6d.,
Bs. 6d , 10s. 6d., 9e., 10e., 88.7 d., 9e., 9s. 6d., 10...
Foreign : Comes, 31.
We also bear of the following transactions in the
Stock Exchange, viz. :—West Basset, 301, 1,1;
Sortridge Consols, 61, 3 ; West Sortridge, 1;
ling-
ton, 11; Tassan Lead, k. The @bares of the Great
Wheal Vor United mines have advanced to 1 die. to
par (W. paid).