The Express.
London, England, 1864-07-26 00:00:00

MONEY MARKET.-(THIS D 47.)

Two o'Cuma.

The stock markets are steadier in character to-
day than they were yesterday, but, except as
regards home railway stocks, which are better,
there is little or no recovery from the late decline.
The English funds and foreign stocks remain at the
reduced quotations of yesterday afternoon.
Consols are now quoted 891 to 90 for
money, and 904 to 4 for the 9th August.
The official report of the actual transactions is sub-
joined :-Three per Cent. Consols, for money, 891,
90 ; ditto for account, 90/, ; Three per Cents.
Reduced, 891, 4, 1 ; New Three per Cents., 891,
; Annuities, April, 1885, 141 ; Exchequer Bills,
June, se. dies. ; ditto March, Bs., 4a. dis. ; Bank of
England Stock, 2404, 42, 40 ; Indian Five per Cent.
Stock, 105, 41, 4; ditto Four per Cent., 1888, 99k.
The foreign stock market is quiet, and prices
remain without recovery from yesterday's decline.
Some of the resent quotations are annexed :-Greek,
231 to 244 ; Mexican, 281 to 4, "ex ; Spanish
Passive, 284 to 4 ; Confederate, 75 to 77 ;
Turkish of 1862, 694 to 70, being per
cent. lower ; and Conaolidea, 50 to 1.
Transactions are recorded as follows :-Brazilian
Five per Ceuta., 102 ; ditto Four-and-a. Half
per Cents., 1852, 1858, and 1860, 861 ;
Chilian Four-and-a-Half per Cents., 821 ;
Egyptian Seven per Cents., 1024, 4, 4 ;
ditto Second Issue, 102/ ; Greek Five
per Cents., for account, 234, 44 ; Italian Five per
Cents., 1861, 67, 4, ex div. ; Mexican Three per
Cents., for account, 281, a, 1, "ex all" ; ditto 1864,
261, 6.; New Granada Deferred, 74 ; Portuguese
Three per Cents., for account, 471, 81, ex div. ;
Russian Five per Cents., 1822, 914, 2 ; ditto Four-
and-a-Half per Ceuta., 1850, 854, ex div. ; ditto
Anglo-Dutch 1864, 891; Spanish Three per
Cents., for account, 504, ex div. ; ditto Passive, for
account, 281, 1 ; the Committee's Certificates, for
account, 10 ; Turkish Six per Cents., 1858, for
account, 72 ; ditto 1862, for account, 691, ex div. ;
ditto 1001. Bonds, 70, 691, ex div. ; Venezuela
Three per Cents., for account, 224 ; ditto Six per
Cents., 1862, for account, 58, 4 ; ditto scrip, 1864,
7,4, dis-
International Financial shares are now quoted
41 to 5 pram. ; London Financial, 12 to 13
prem. ; General Credit, 3 to 1 prem. ;
Imperial and Mercantile Credit, 4 to 4 prem. ;
Hudson's Bay, 17 to 4 ; Ottoman Sociit4 Gene-
rale, 3 to 4 prem. ; and Anglo-Elyptrin Bank, 34
to 4 prem.
The joint-stock banks have raised their allowance
for money ou deposit front 41 to 5 per cent., except
that the London and Westminster Bank give only 4 per
cent. on sums below 5001. The discount est►blish-
ments now allow 5 per cent. for money at call (a rise
of 4), 64 per cent at seven days' notice (a rise of 4),
and 6 per cent at fourteen days' notice, an ad-
vance of 4.

The fortnightly settlement in shares and foreigu
stocks will commence to-morrow ("continuation
day "), and terminate on Friday.
The Arabia has brought from New York only
9,7681. in specie, of which only 1,0001. is for
England. The Roxburgh Castle, from Mel-
bourne, has arrived with 24,500/. in gold.
The Brighton Railway traffic return shows this
week an increase of 1,1711. over last year ; and the
South Eastern a decrease of 231/.

Applications are invited by the Merchant Bank-
ing Company of London (Limited) for the capital
of the British and Netherlands India Bank
(Limited). The prospectus of this undertaking
urges that "although within the past few years
considerable addition has been made to the banking
capital of our great eastern possessions," yet " in
India, China, Japan, and Australia, as well as in
the Eastern Archipelago generally, business has
vaitly outrun existing banking accommodation."
Especial reference is made to the field presented in
the Madras Presidency, and it is mentioned that
the new bank will also, without loss of time, esta-
blish branches in China, Japan. and Batavia. The
promoters further state that "arrangements are
contemplated with an Australian bank, by which
its operations will likewise be effectually extended
to that field." The capital is 2,000,0001., in 40,000
shares of 601. each, with • tint into, of 20,4)00
shares.

Another new undertaking is the Rinchintong Tea
Company (Limited). The capital of this company
is fixed at 60,0001., in 6,000 shares of 101. each,
with a first issue of 3,000 shares. The company bas
provisionally purchased three estates in Darjeeling,
Northern Bengal, comprising nearly 2,000 acres, of
which 206 acres are filled with tea plants, and 65
acres are just coming into bearing. There are also
two houses, implements, stock, dm The purchase
money is 20,0001., but the vendors retain their
interest in the commit by taking one-half the
amount in fully pa►d up shares. It is proposed to
bring the area of land in full bearing up to 600
acres as soon as possible. The vendors guarantee
a dividend of 5 per cent. for the first two years.
Among the directors are Mr. Henry De Mornay,
who for seventeen years was connected with the
Assam Company in India.
A general meeting of the St James's Hall Com-
pany (Limited) is called for the let of August, and
a meeting of the Pneumatic Despatch Company for
the 30th lust.
The certificates for the new shares of the Loudon,
Birmingham, and South Staffordshire Bank will be
ready for delivery to-day.
Creditors of the Imperial Sugar Refining Com-
pany (Limited) are required to send in the parti-
culars of their claims to the liquidator by the 10th
of August.
The half.yesrly interest is advertised on the second
preference bonds of the Northern Railway of Canada.
We are informed that the Locomotive Cotton
Press Company have received a model of their
patent pressing machinery, which may be inspected
at the temporary offices in White Hart-oourt,
Lombard-street

The agency of the Socieiti Financiers d'irgypte
in London is now transferred to the Imperial
Mercantile Credit Association, Crosby-house, 95,
Bishopegate-street Within.
We are requested to mention that the share list
of the Hudiksvall and Forma Steam Dewing Mill
Company will be closed to-day for London, and to-
morrow for the country.

MONSAT EVENING.

Console, which closed on Saturday at 94 to for
the 9th of August, were first marked this morning
90k, and closed at 90i to 1. Fur money the last
price was 891 to 90. he official report of actual
transactions is annexed Three per Cent.
Console, for money, 90, 90 ; ditto, for account,
901, 1 ; the Three per Cents. Reduced 89}, •
New Three per Cents., ; New Two. j
and-a-Half per Ceuta, Jan., 1894, 73; India]
Stock, 214, 212 ; ditto Five per Cent. Stock, 1870,
104 f ; ditto Four per Cent., Oct., 1888, 991 ; I+lx.
chequer Bills, March, fis. dis. ; ditto, June, la,
5.1., . .

The India Five per Cant. Stock was quiet. Ex-
chequer Bills have not been affected in price by
the rise in the value of money, the March being
still quoted Bs. to 3s. die., and the June: 15e. die. to
Par. . • . . .

- Foreign stocks were heavy, but the reduction in
prince was confined to the more speculative descrip-
tions.

There was a rather general decline in bank shares,
and the market closed heavily. London and Bra-
lian Bank fall 21., Imperial, 'London Joint Stock,
and London and Westminster, 11.; Bank of Otago,
British and California, But London, Hindustan,
China and Japan, London, Birmingham, and South
Staffordshire, London and Colonial, London and
Hamburg Exchange, and London and Northern,
were each 1.04. lower, and Bank of British Columbia
and Imperial Ottoman ba.; Land Mortgage Bank of
India further receded 2s. thl.; Union Bank of Ans-

tabs, o
1 n de other hand, improved IL, and bad
Eastern os.
Hudson's Bay shares ware flat at 17k to 1, and
Egyptian Trading dull at 2to / prem. Forootraat
Warehouse and Telegraph Construction shammies
hea
Thevy.
closing (but in some cases merely ncasinal)
quotations for shares in new undertakinp aro
subjoined, viz.:—lnternational Land Credit, 14 to
2k prem.; Minoan Iron Works, par to prowl- ;
Ebbw Vale Company, dia. to press. ; Italian Lead,
to 1 prem. ; Ottoman Sociitd Gindrede, *to
3i prem. ;Anglo-Egyptian Bank, 31 toll:soma.
being better; London and County
Building, Ito 2 prem. ; Queensland Sheep, 4 dia. ;
and Locomotive Cotton Press, 1} to 2 prem.