The Express.
London, England, 1863-05-21 00:00:00

MONEY MARKET.-(THIS DAY.)

RISE IN THE BANK RATE OF DISCOUNT.

Two, o'Czoox.

The directors of the Bank of England, at their
weekly meeting to-day, have raised the minimum
rate of discount from 3i per tient. (to which
it was advanced from 3, as recently as last &Aar- i
day) to 4 per cent.
This step, having been expected, has excited no
surprise, but has been attended with a slightly pre-
judicial effect on the prime of some kinds of public
securities. The funds have declined j per cent.,
and a few of the principal home railways i to i per
cent. Some of the more speculative foreign neuri-
tic.s have likewise given way.
In consequence of the alteration at the Bank, the
joint-stock banks have raised the rate allowed for
depoeits from to 3 per cent. Toe terms of the
London and Westminster Bank, however, are only
2 per cent for sums below 600/. The discount
establishments will henceforward give 3 per cent.
(instead of 21) " at call," and 31 (instead of 21) at
notice.

The scrip of the Confederate Loan has declined
per oent., being now quoted par to pram.
, Turkish is firmer, at 14 to 25 prem. ; and Italian
at 11 to 24 prem.
At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Routes opened at
69fr. 50c., being sc. lower than yesterday.
Consols are now quoted 931 to 4, cum div.,
for money, and 92 to 4, ex div., for
the account (June 9). The official business
report is as follows : - Three per Cent.
Consols, for money, 93} to 4 ; ditto for account,
92} ; Three per Cents. Reduced, 911, 1,
; New Three per Cents., 914, 1, 4 ;
Bank Stook, 235, 233} ; India Five per Cent.
stook, 1000105 ; ditto Four per Cent. Deben-
tures, 1864 or 1866, 100} ; ditto, Bonds, 13s. to
17a. prem. ; and Exchequer Bills, 4s. dia., par.
Spanish Paasive Bonds and Certificates of New
'Granada " ex all" bonds have declined. Maxima
are also lower, though they show a partial
recovery from the lowest point of the
morning. Greek have fallen 4 per cent., and
Turkish Coneolidee 4, while the Anglo-Turkish
Bonds of 1868 and 1862 are firm. Egyptian
stock remains strung. Some of the present
quotations are annexed :-Turkish 1854 Loan,
88} to 80 ; ditto, 1858, 705 to ; ditto,
1862, 715 to } ; the Consolidie, 514 to 4,
ex div. ; Greek, 314 to 32 ; and Venezuela Six
per Ceuta., 551 to 565, ex div., being dulL
Transactions are recorded as follows .-Brazilian,
1843, 1025 ; Dutch Two-ands-Half per Cents.,
641 ; Egyptian, 100} ; Greek, for account,
314, ; ditto Coupons, 141 ; Italian, for
account, 711 ; Mexican, for account, 381, 4,
354, 365 ; New Granada, 161, 4, ex div. ; ditto,
Deferred, 104, 10, ex div. ; Portuguese, 1856,1857,
1859, 1860, and 1882, 494, 5 ; Russian, 1822, 951 ;
ditto 1850, 904, 91} ; ditto 1862, 924, 4, ex div. ;
Spanish, for account, 541, 4 ; ditto New Deferred
for account, 481 ; ditto Passive, for account, 344,
4, ; ditto Certificates, 124, 4, } ; Turkish, 1858,
for amount, 705 ; ditto, 1862, for account, 714, 5,
} ; Venezuela, for account, 241 ; ditto, 1862, 551,

}, ex div.
The shares of the International Financial Society
are rather lower at 4} to 41 prem. General Credit
and Finance Company are steady, at 16 to 2}
prem., and London Financial at to prem.
There is an increased demand both for bar silver
and Mexican dollars for exportation to China,
owing to the receipt of higher, i. e. more unfavour-
able quotations of exchange from that country.
The biddinge for 30,00,000 rupees (300,0001) in
bills on India took place yesterday at the Bank of
England. The proportions allotted were—to Cal-
cutta, 16,70,000 rupees ; to Bombay. 12,0%000 ru-
pees ; end to Madras, 1,30,000 rupees. The de-
clared minimum price was as before, viz., Is. 11{d.
per rupee on Calcutta, and la. 11}d. on Bombay
and Madras. The applications within the limits
were for upwards of 100 lace (1.000,0001). Tenders
on Calcutta at Is. 11}d. will receive about 28 per
cent. ; on Bombay at is. 116 d., about 31 per cent.;
and all above these prices in fulL Those on Madras
will receive in full.
A second instalment of 2s. 6d. in the pound is
now being paid by Messrs. Coleman, Turquand,
Youngs, and Co., on the estate of Messrs. F. Ede,
Son, and Co., making up to this time, with the first
instalment paid in December last, 15e. in the pound.
The London and North Western Railway traffic
return shows this week an increase of 1,4501. over
last year ; the Great Eastern, an increase of 2091.;
and the London and South Western, an increase

of 3491.
Mr. Thomas Cotterill, a director of the Bank of
Hindostan, has been elected a director of the Bank
of Wales.
The Court of Chancery has made a call of 11. per
share on the contributories of the Mercantile Gua-
rantee and Assurance Company, payable by the
28th inst., and a call of 61. per share on those of the
British Provident Fire and Life Assurance Society,
payable by the 10th of June.
The half-yearly meeting of the African Steam-
ship Company is called for the 3rd of June.
The position of the market for American secu-
rities is noticed as follows by Mr. E. F. Satter-
thwaite :
We have had a very firm market for American securities
in Load= during ti, past weak. CAmeiderable parehears
have been made in both Ertel and Illinois share*, also in
Atlantic and Great Western Bonds ; in other railer*
bonds there is little or nothing doing. Uniodoreed trolled
States Bonds continue in demand for Holland ; the Five per
Omit (1874) close firm at 62, and the Six per Cent. (1881) at
66 boyars.
The following is from the wine circular for
Australia issued by Mr. F. W. Coeens :
By the late advice. from Australia it is clear that the
Ueda there have at last found that rubbish in the markets
of Europe Droves rubbish when landed at Melbourne and
Sydney, although the price may be tempting when cam-
=with the genuine commodity protected by respectable
and shipped by respectable houses. During the last
two years vest quantities of very inferior compounds. in-
voiced probably as port and sherry, have been shipped from
ccetiorior-il free porta via Loadoa to the Australian colo-
nies ; they fora time appear to have found ready sale, but
probably so soon as they were placed with the actual con-
sumer their defeats became apparent, and being found
• on-
palatable and probably highly injurious, they remaioed an-
consumed; this reacting upon the wipe merchaot, and
through him on the importer and shipper here, dam at last
checked the demand for these oonapouade.

WILDItIMIDAT_EVIORFO.

Consols, which closed yesterday at 92 tol ex
div. for the 9th of June but which advanced
after the close of the Stock Exchange yesterday to
92 3-16 to f, were first marked to-day 92} and 92f,
and closed at 92} to /. For money the last price
was 934 to ft with div The official business
report is as follows :—Three per Cent. Con-
sols, for money, 93ft, ft, ft, cum div. ; ditto, for
account, 92f, 1, at div. • Three pet Cents. Re-
duced, 911, 1 • New Three per Cents., 911,
ft, 1, I ; New 'Two-and-a-Half per Cents., 76f ;
Thirty Years' Annuities, 1885, 141 ; India Stock,
,
231)1, 230 ; ditto Five per Cent. Stock, 1101,
101 ; Five per Cent. entered " rupee paper,
102 ; ditto Five-and-a• Half per Cent., 115 f.
The India Five per Cent. Stook remains at
109* topar. 110*. Exchequer Bills were steady at 3s.
The foreign stock market was quieter than usual.
Spanish Three per Cent. Passive Bonet have risen
Iper nt. ; Turkish Consolidis, kto f ; and
cent
Italian Five per Cents., ; but, with these
exceptions, the tendency of prices in this depart-
ment was not favourable.
Ocean Marine shares closed to-day at 10
to 10* prem. • lJniversal Marine, 1} to 1 dia. ;
Thames and Mersey, S to 3ft preen.: Commer-
cial Union, I to 14 prem. ; North British and
Mercantile, 17* to ; end Oriental and General
Marine, 1 to 14 prem.

The dosing quotations for shares in new nutter
takings to-day were as follows :—British and
Foreign Marine, Ito prem. • London Bank
of Scotland, 1 to 1 prem. • Sardinian Railway,
lto dia. • London Manila! Association, .1 to
prem.; Empire' Marinei to 1 prem. ; Dart-
ord Creek Paps: Mills, to prem.
and Scottish Marine 4to prem. ; Cannes Hotel,
to 5 prem. ; Mediterranean Hotel, 1 to 11 prem.
Margate to 11 pram. • Clarenos Hotel,
1 to 1 prem. ; Southampton &pedal Hotel, 1
Pom. ; Kingstown Hotel, 1 to 11 prem. ;
and Public Works Credit Company, to I prem.
Messrs. Baring Brothers and Co. have announced
the dividends due the let June on Chum Four-
and-a-Half per Ceram. and Russian Four-and-a-
Half per Cents of noo. The dividend on Swedish
Provincial Mortgage Bonds is also advertised by
lf.essrs. Dent, Palmer, and Co.
Interest at per cent is announced on Bast of
Bavaria Railway shares.
The Emigration Commissioners will receive
tenders on the 25th lust. for the hire of a ship to
take passengers to Adelaide, South Australia.