The Express.
London, England, 1864-01-28 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'CLocz.

The stock markets opened quietly this morning,
but have become heavy within the last hour
and a half, in consequence of a vague

'mow that Lord Join Russell has re-

signed. The funds have declined / per cent., andl
some of the home railway and speculative foreign
stocks have likewise receded. International
Financial shares have improved, owing to
favourable rumours relative to the forthcoming
report of the directors.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes were quoted
66fr. 45c., being 1 per cent lower than yesterday.
Consols are now quoted sal to for money,
and 901 to 1 for the account (Feb. 4). The
official business report is as follows :—Three per
Cent. Consols, for money, 901, 1,1, 1; ditto for
account, 901 ; Three per Cents. Reduced, 901, 1 ;
New Three per Centa., 901, 1 ; India
Five per Cent. Stock, 1041, ; ditto Four per
Cent., 100 ; ditto Four per Cent. Debentures, 1866,
991, 99 ; ditto Bonds, 2s. dia. ; Five per Cent
" enfaced " rupee paper, 102 ; and Exchequer
Bills, 4a., 95., 10s. dis.

Foreign stocks are dull, the settlement being in
full progress. Spanish Passive Bonds are f per
cent. lower, at 321 to 4, and Turkish of
1862, 1 lower, at 661 to 67. Greek Bonds
are quoted at 211 to 1, showing little change ;
Turkish Consolidie, 461 to f ; and Mexican, 351 to
if. Transactions are recorded as follows :—Brazilian,
1863, scrip, 11, 21 din ; Chilian Six per Cents.,
1001 ;Egyptian, 101 ; Greek, 211, ; ditto, for ac-
count, 211; ditto Coupons, 10 ; Mexican, 361,1,1;
ditto for account, 36 ; New Granada, 121; Portu-
guese, 1856, &c., 471, 1; Rua/Liao, 871, 881;
Spanish, 521 ; ditto New Deferred, 451 ; ditto
Passive, 331, 321 ; ditto, for account, 331, 1 ; ditto
Certificates, 131 ; Turkish, 1862, 67, 661 ; Vene-
zuela, 231 ; ditto, 1862, 544.
No change has been made in the Bank of Eng-
land rate of discount, or in that of the Bank of
Frame.

International Financial shares are quoted 7k
to prem. ; General Credit, 2} to prem.; Lon-
don Financial, 101 to 11 prem.; Egyptian
Trading, 2 to prem.; Consolidated Dis-
count Company, 4 die. to prem. ; Mauritius
Land Credit and Mortgage, 4 to 11 prem. ;
Discount Corporation, 34 to 4 prem. ; Contract
Corporation, 3to prem. ; Australian and
Eastern Steam, 34 to prem. ; Land Securities
1 to 11 prem. ; Mercantile Credit, 34 to 44 prem. ;
London, Italian, and Adriatic Steam, to 1
prem. ; and Anglo-Italian Bank, b to I prem.
Capitalists persist in considering it almost impos-
sible that Austria, in her present situation of poli-
tical and financial embarrassment, can persevere
in a course threatening to involve her in hostili-
ties with this country, in addition to other for-
midable antagonists.
The demand at the Bank of England discount
office yesterday was only moderate, and the general
market was rather quiet. Nevertheless in toe pre-
sent uncertain position of financial affairs there is
no disposition to take even choice bills below 8 per
cent., and the market is characterised by some
degree of tightness.
The success of the new French Loan of
12,000,0001. is as complete as was anticipated. In
the Express of the 19th instant, immediately
upon the opening of the lists, • belief was expressed
that the applications would reach an aggregate
of four milliards, or 160,000,0001. sterling, and
this is almost the precise amount attained. The
result is that, while subscribers for an amount not
exceeding 6 francs of annual setae will receive an
allotment without abatement, all the other appli-
cants will get only about onegsventeenth of the
amount subscribed for.
The City of Baltimore, from New York, has
brought 171,0001. in specie.
Owing chiefly to an expectation of the receipt of
large supplies from Hamburg and other parts of the
Continent, the silver market is flat, and the price
has receded to 6s. 1141. to 3s. 2d. per ounce for bars.
The amount of bills on India for which tenders
will be received at the Bank of England on the 3rd
Feb. is rupees 40,00,000 (400,0001)
Reports of what may well be termed an extraor-
dinary character are current with regard to the
profits already realised by the International Finan-
cial Association. It is said that the sum
cleared up to the end of last year—that is to say,
during about seven months' working—has exceeded
170,0001. It is further reported that an additional
profit of between 20,0001. and 30,0001. has been made
since the close of last month, so that the ratio of
profit seems to be rather increasing than diminish-
ing. It must be borne in mind that for • consider-
able part of the time during which the company has
been in operation only a portion of the present
paid-up capital of 760,0001. was in hand. It is
rumoured that it is in contemplation to pay a
commencing dividend at the high rate of thirty
per cent. per annum (calculated, probably, from
the dates at which the respective instalments of
capital have been paid), and that, in addition, •
very large sum will be carried forward.
At an extraordinary meeting of the Land Mort-
gage Bank of India, held yesterday, the resolution
passed on the 11th mat, in favour of the company
accepting the agency of the Credit Fonder of the
Island of the Mauritius, and of similar agencies,
should they offer, from cognate societies in other
parts of the East, was confirmed. The chairman,
Mr. Laing, said that Mr. Fitzwillism had met
with a very cordial reception at Calcutta, especially
from members of the government, who consider
that this undertaking is calculated to develop to a
vast extent the resources of the country, and to
rescue the proprietors of land, &c., from the ra-
pacity of the usurers. There is bat one opinion, he
added, as to the undertaking returning large profits
to the shareholders.
The London and North Western Railway traffic
return shows this week an increase of 8,7501. over
last year ; the Great Eastern an increase of 2,1921.
the London and South Western an increase of
2421 ; the Great Western an increase of 4,9471. ;
and the Great Norther* en increase of 5,8771.
We are informed teat the West India and
Pacific Steam Ship Company are organising • com-
prehensive plan for a regular and efficient steam
service between Liverpool and the various West
India Islands, the Spanish Main, Mexico, Vene-
zuela, &a The departures will be weekly from the
beginning of March ; and, in addition, a line of
the company's steamers will run between New
York, Hayti, and Jamaica, for whicl. service the
directors have secured • postal subsidy from the
colonial governments.
A call of it. is to be paid upon the shares of the
Para Gas Company by the Ist of March.
Creditors of the Union Discount Company
(Limited) are required to prose their claims in the
Bankruptcy Court on the 18th February, in order
to claim the first dividend.
It is understood that the capital of the Landon,
Italian, and Adriatic Steam Navigation Company
has been folly subscribed.
It is intimated that Mr. William Francis Law-
rence (of Lawrence and Fry) bas joined the direc-
ting of the Financial Corporation (Limited). The
share list closes on Monday next for London, and
on Tuesday next for the country, and we are in-
formed that "arrangements have been made for
commencing business immediately after the allot-
ment of the shares,which will be made forthwith."
At the settlement yesterday the rates of " con-
tinuation " on some classes of securities were rather
considerable, in coneequenes of the state of the
money market generally, but they have scarcely
exceeded those current at the last settlement.
Mercantile Credit shares remain scarce, and still
command a "backwardation,l or bonus, for thw
loan of them. Confederate Bonds were also *mild

3

for the settlement ; the " backwanlation " upon
them varied between f and / per cent., but late in
the day the supply was rather more abundant. The
following may be regarded as an approximation In
the rates quoted yesterday :
Dirrtat Corporation
General Credit 9d. to 1-16 ~
Internatioeal Financial lx to la. 6d.
Indian Morro &IS to 041. „
Meroaatile Credit
Gentederate Less
141 to 1.16 emelt

Granada Deferred

Mexican
Turkiah Internal Six par Cad
Vionaxsak. 1862
Gnat Western Railway
Lenatabire acid Yorkehlre
London sad North Wasters
Midland
South Weaken
Oaledoalan

Groat Northers A

SouthrEastarn

Sheffield
North Emden : Bente
Groat Eutern

Great Western of Canada. • • •
Illinois Central

&ii :
14 :
$41.6
.
"
9-11 "

7-1 A

ii-ii „'"

,-.

9-1

1-16 .
1-16 .

WIDIfE74DAY_EVZPIMIL

Consols, which closed yestiacraiWiolt7,lfor
the 4th February, were marked to-day sol, and,
after standing all day at 90} to I, receded late in
the afternoon to Wit* j. For money the last price
was 90.1 toe. The official business report is as fol-
lows :—Three per Cent. Consols, for money, 90i,
ditto for account, 90j ; Three per Cents. Re-
duced, 90j, ; New Three per Conte., 30J,
Bank Stock, 236, 237, 2361 ; India Stock, 21
ditto 5 per cent. stock, 1041,j 4.

The India Five per Cent. stock Was heavy. Ex-
chequer Bills remain at 10s. to 4s. du.
The foreign stock market was:steady until late in
the afternoon, when a reduction took place in this
speculative stocks, in sympathy with that noticed
in other securities.

In the market for bank shares there was an ad-
vance in Bank of London, Imperial, and Chartered
Bank of British Columbia, but a reduction in
Bank of Australasia, Bank of Egypt, Bank ef
Queensland, Bank of New Zealand, City, English&
and Swedish, European, London and Hamburg,
London Chartered Bank of Australia, and Mer-
cantile and Exchange Bank. National Discount,
Joint Stock Discount, Madras Irrigation, and
Oriental Inland Steam shares have all r. ceded,
while Ocean Marine have advanced. The shares
of the Egyptian Trading Company have ri.,en to 2
to 21. prem.
General Credit shares were steady at 2f to
prem. London Financial have risen to 11 to 11
prem. ; and International Financial to 6 to 7
prem., for the new account. The transactions in
the latter have of late been extensive, in anticipa-
tion of a highly favourable report from tie
directors.

The shares of the Land Securities Company were
last quoted to pre= ; Mauritius Laud Credit,
to prem. ; West India and Pacific Stamm, Ito 1
preen. ; Anglo-Italian Bank, to pram. ; Mer-
cantile Credit, 34 to 4 pram. ; Australian sad
Eastern Navigation, si to prem., being hitheieri
Contract Corporation, 3 to 34 prein.,
likewise better ; Consolidated Discount,
dis. to prem. ; London Mercantile DiCOUD
14 to 24 prem. ; Financial Corporation, Fto 1
prem. ; London, Italian, and Adriatic Steam,
to 14 pram. ; International Racecourse, to 2
prem. ; Littlebampton Steam, 5 to 6 prem. ; and
London Chemical Company, i to le prem.