The Express.
London, England, 1864-05-17 00:00:00

MONEY MARKET.-(THIS DAY.)

Two deux'.

The stock markets to-day are firm, with a
favourable tendency. The funds have again
risen 1 to per cent., much support being
derived from the continued investments by
the public. The stocks of one or two of
the chief home railways have improved. The tea-
-1 dency to improvement in the share and foreign
stock markets, however, is checked by the heavi-
ness of the work in connexion with the completion
of the extensive "amount" in shares and foreign
stocks. This is the " pay-day."
The demand for money to-day is limited, many
persons keeping back their bills in expectation of an
early reduction in the Bank of England rate of dis-
count. The quotation for good three months' bills
is 81 per cent. In the Stock Exchange there is an
increased inquiry for short loans on government
securities, principally in connexion with the fort-
nightly settlement, and it is difficult to obtain them
at 7 per cent.
At Paris to-day, according to Mr. Reuter's
telegram, the Three per Cent. Rentes opened at
66fr. 80c., showing no alteration.
Consols are now quoted 911 to 1, with div., for
money, and 904 to 1, ex div., for the account
(June 8). The official business report is as fol-
lows:—Three per Cent. Coneola, for money, 911, 1;
ditto for account, 901 ; Three per Cents. Reduced,
894, ; New Three per Cents., 891, ; Bank
Stock, 239, 237 ; India Stock, 217, 2184 ;
ditto Rive per Cent. Stock, 1064, 1061 ; ditto Four
per Cent., 100, 991; Exchequer Bills, March, 10s.
dia. ; ditto June, 91., 4s. die.
Little change has occurred in foreign stocks,
the settlement monopolising attention. Greek
Bonds are per cent lower, at 231 to 1 ;
but most other stocks are steady. Mexi-
can Bonds are quoted 45 to ; Spanish
Passive, 344 to 35 ; Confederate, 65 to 68 ;
Turkish of 1862, 71 to 72, ex div ;
and the Consolidds, 48J to I, ex div.
Tranaaetions are recorded as follows :—Brazilian,
1863, 862 ; Egyptian, 1001 ; ditto second issue,
1001; Greek, for account, 234 ; Italian (Maremmana
Railway), 74 ; Mexican, 441, 454 ; ditto for account,
451, ; Peruvian, 1862, for account, 86 ; Russian,
1862, 864, ex div. ; ditto, 1864, scrip, 24 prem. ;
Spanish, for account, 524 ; ditto New De-
ferred, 451 ; ditto Passive, for account, 341,
; ditto Certificates, 114 ; Swedish scrip, 3 prem. ;
Turkish, 1854, for account, 88 ; ditto 1868, for
account, 681 ; ditto Guaranteed, 100 ; Venezuela,
1862, for account, 551, ex div.

International Financial shares are now
quoted 61 to 1 prem. ; General Credit, 611
to g prem. ; Mercantile Credit, 101 to 11} ;
Hudson's Bay, 18} to 1 ; Credit Mobilier, 41 to 5
prem. ; Imperial Financial, 4to prem. ; Credit
Foncier (Great Britain and Ireland), 6 to 7 prem. ;
City Offices Company, 1' to 1 prem.; International
Land Credit Company, 2i to 1 prem. ;
htill-
wall Ironworks, 11 to prem. ; and Imperial
Bank of China, I/ to 1 prem.

Form o'Cioci.

Consols are unaltered, at 9lf to 1, with div., for
money, and 902 to f , ex div., for the account.
88,0001. in gold has been sent into the Bank.
The rate of discount in the general market hav-
ing declined to 821 per oent. for good three months
bills, and 8 for six months, and the supply of
money being large, the belief that the rate of
discount at the Bank of England cannot be main-
tained at its present exorbitant point for more
than a week or two longer, is increasing. The
demand at the Bank discount-office is accordingly
falling off, holders of bills preferring to wait till
lower terms are established.

In the Stock Exchange, though high rates were
paid for loans on many other aecuritiet, the terms
on English government stocks yesterday were only
4 to 6 per amt. from day to day, and 6 per cent.
for longer periods, and there was a good supply a
money left over yesterday afternoon.
The steamer Australaaian, from New York, has
brought 42,0001. in specie. The Shannon will take
to-day 5,0001. in silver coin for the West Indies.
The quotation of the Bombay exchange just
telegraphed shows no alteration, while that from
Calcutta is slightly easier.
The Committee of the Stock Exchange will meet
to-morrow, when it is understood that they will
appoint special settling days for the shares of several
new projects.
The Brighton Railway traffic return shows this
week an increase of 1,8041. over last year ; and the
South Eastern an increase of 1,7421.

We have received • oopi of the prospectus
of the Hydraulic Tube Drawing and Steel
Ordnance Company (Limited). The object is
to purchase and develop some new patents
for improvements in the drawing and shaping
of metals, and for the machinery employed
therein. It is mentioned that "by this process
metal tubes can be produced from the fineness of a
needle to the size required for the largest ordnance,
and its products may be applied to numberless
other uses, with infinitely increased strength and
diminished cost" It appears that the patent has
been experimentally worked in Paris for nearly two
years, and that large orders are now in hand there
for gun and rifle barrels. Attached to the
prospectus are several satisfactory reports of the
proving of gun barrels in London and Paris. It
is intended to supply machinery, and to grant
licenses to manufacturers, and to establish • factory
for the manufacture of tubes. The patent may be
seen in operation at temporary works in Bermond-
sey. Full particulars are given in the prospectus
with regard to the terms of purchase. The capital is
160,0001., in 15,000 shares of 101. each, of which
one-half are to be issued in the first instance.
The directors of the Atlantic and Great Western
Railway Company in New York, under date of the
6th April, have addressed to the stockholders a
brief statement of the company's business for the
year ending the 31st Dec. This document refers to
the large increase which has taken place, and
observes :

With the great load Waimea which will be °Maimed by
the Dearly emapieted mteasicwa of this railway isle the
oil, roil, sad iron districts of Peaesylvasis and Ohio, the
stock el this commay lima become highly remunerative ;
sad the pest through traffic of the Valley of the Missimippl,
which it will ooreamed when the wasters oesseetioss en
made sad rolliag•stock supplied, will asquestirmably make
the Atlantic and Great Wasters Railway ese of the most
valuable railway • is the United &atm
The first four ships of the Company of African
Merchants, established last July, are now on their
way home to England, with cargoes estimated in
value at 20,0001. to 30,0001.
The National Provincial Marine Insurance Com-
pany commenced business yesterday, at their new
offices, Cowper's-court,
A general meeting of the Malta and Mediterra-
nean Gas Company (Limited) is called for the
30th inst., to declare a dividend, and will be made
special, to alter the date for holding the annual
meetings, and also to authorise the directors to
exercise the company's borrowing powers.
A general meeting of the Inns of Court Hotel
Company (Limited) is called for the 26th inst.
Mr. W. H. Miles, of the old established firm of
Sir William Miles, Bart., and Co., of Bristol, has
joined the board, and taken the chairmanship of
the Ashton Vale Iron Company.
The share certificates of the Estate Company
(Limited) are now ready for delivery in exchange
for the bankers' receipts.
The letters of allotment and "regret" were posted
last evening to applicants for shares in the Pro-
vincial Banking Corporation.
Messrs. Baring Brothers and Co. have announced
the dividend due the Ist of June on Cbilian Pour-and-
a-Half par Ceuta., and Mews. J. H. Schriider and

Co., that on the Bonds of the Cienfuegos and Villa
Clara (Cuba) Railroad. The numbers are also pub-
lished of 70 beads of the latter loan, which have
been drawn and are to be paid off on the Lt of
June.

A circular from Means. Woolley and Coates, of
the Stock Exchange and Tokenhouse.yard, inti-
mates that they have admitted into their firm as
partner Mr. John Alen Hankey, juu. eldest son
of Mr. John Alen Hankey, the banker, of Messrs.
Hankey and Co., of Fenchurch-street.
The following are the returns of the Irish banks
of issue for the four weeks ending the 30th ult. :

I
Average circulation dunes
lil i four weeka ending as 'bole.
g v•lj
443 ii.s and I. nder , .rotd.
apwarda an. '
- -
a a C a
The Bank of Ireland .... 3.714, , 1.644.04 i 1.014,3001 2,657,7225
The Provincial Bank •
Ireland
1.47,141.3
The Belfast Banking Com I
161,611 101,7 k I 260,228' 382,067
Mir orthern I • •
Company
The Ulster Banking Com- I
311,. 1.16,731,1610 278,7491 412,529
ThimYstlonal Bank

AL
56421

11 412,529
is 1,131, WA
IC wawa