The Express.
London, England, 1863-12-31 00:00:00

MONEY MARKET.-(THIS DAY.)

Two olhooi.

The statement that the bullion in the Bank of
France is again declining, combined with the uncer-
tainty which continues to prevail with regard to
foreign politics, have to-day caused a fresh decline
oft per cent. in the funds, which appear to be also
prejudiced by the approach of the settle-
ment. In some of the other markets, however,
prices, after temporarily receding, are now quoted
a trifle better than they closed yesterday. Foreign
stocks are dull.

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Itentes were quoted
66fr. 40c., being sc. better than yesterday.
Consols are now quoted 911 to 1, ex div.,
for money, and 911 to g, ex div., for the ac-
count (January 7). The official business re-
port is as follows :-Three per Cent. Consols,
for money, 911, f, ; ditto, fer account,
911, 11 ; Three per Cents. Reduced, 911, 1,1;
New Three per Cents., 911, 1, 91 ; Thirty Years'
Annuities, 1885, 141 ; Bank Stock, 235/ ; India
Five per Cent. Stock, 1061, 1, 1 ; ditto Four per
Cent. Debentures, 1864 or 1866, 99 ; ditto Bonds,
par ; Four per Cent. "enlaced" rupee paper, 95 ;
and Exchequer Bills, 45., 9s. dia.
The foreign stock market is dull, except as re-
gards Spanish Passive Bonds and Certificates,
which have improved, the former being now quoted
341 to while the latter are last marked 14g.
Mexican Bonds are f worse, at 37 to j, and Greek
1 worse, at 241 to 1. Turkish Consolidis are dull,
at 471 to 48. Other foreign stocks exhibit little
change. Transactions are recorded u follows :-
Brazilian, 1863, 88 ; Greek, for account, 241, 1, 1 ;
Mexican, for account, 371, 37, a, 37,1 ; Peruvian,
, 1862, for account, 881, 1 ; Portuguese, 1853, for
account, 491 ; ditto 1856, &a, for account, 491 ;
ditto scrip, 11 prem. ; Russian, 1862, 891, 1 ; Spanish,
54 ;ditto Passive, 341, 1 ; ditto for account, 341, f,
1 ; ditto Certificates, for account, 14f, 1,1, 1,
jj ; Turkish, 1858, for account, 70, 691 ; ditto
1862, for account, 711; ditto 1001.. Bonds, 71 ;
Venezuela, 1862, for account, 55.
International Financial shares are quoted 41
to 5 prem. ; General Credit, 21 to 3 prem. ; Lon-
don Financial, 81 to 91 prem. ; Hudson's Bay,
3 to 21 dis., ex div.; Egyptian Trading, 11 to 2
prem. ; Merchant Banding, 4 to f prem. ;
Land Mortgage Bank of India, 21 to 21 prem. ;
English and Swedish Bank, 11 to 21 prem. ;
East London Bank, 21 to 3 prem. ; Discount Cor-
poration, 31 to 41 prem.; Contract Corporation,
31 to 3 prem. ; Consolidated Discount Company,
to 11 prem. ; West India and Pacific Steam,
to n prem. ; National Steam, 3 to 11 prem. ;
and Mauritius Laud Credit and Mortgage, 1/ to
lf prem.

The traffic return just issued by the London and
North-Western Company shows an increase of
nearly 10,0001. as compared with the corresponding
week of last year.
As usual at the end of the year, there was yester-
day a very active demand for money in all quarters,
including the Bank of England, where the brokers
have again been applicants for advances. Large
sums hitherto lent in the Stock Exchange have been
withdrawn, causing considerable pressure in that
establishment, where high rates have been given for
short loans. Few transactions have taken place to-
day below 7 per cent. for good bills. Si: months
paper, however, was taken at 62 per cent, being
fractionally below the terms demanded for shorter
periods.

About 59,000/. in gold was bought by the Bank
yesterday, making an aggregate of 1640001. for the
week. _ _ _

The steamer Shannon, from the West Indies, bag
brought no lees than 660,000/. in gold and silver.
The Etna, from New York, has brought 194,8001.
in specie.
Numerous new projects are in course of forma-
tion under the encouragement afforded by the easier
prospects of the money market. As applications
are said to be made almost every day to the several
financial companies for the grant of their stamp upon
new enterprises, it is to be hoped that the boards of
these companies will continue to exercise the utmost
possible discrimination in the selection of the con-
cerns to be brought forward, for thus only can they
discharge their legitimate functions, and promote
the advantage both of their shareholders and the
public. They have already acquired an excellent
position, the public being apparently perfectly will-
ing to shift upon their shoulders the labour of in-
vestigation and of selection, and to follow
almost blindly any signal which they may
make. It is believed that the boards of
the financial companies are alive to the
responsibility which this testimony of confidence
on the part of the public entails upon them, and
that they will not be hurried, even by a feeling of
rivalry amongst themselves, into giving their en-
dorsement to any schemes which will not bear
strict inquiry.
The London office of the Anglo-Austrian Bank
will be in active operation on and from Friday, the
let January, under the management of Mr. Francis
Breuer, for many years in the house of Messrs.
Fruhling and Geschen.
The London and North Western Railway traffic
return shows this week an increase of 9,9681. over
last year ; the Great Northern an increase of
' 5,303/. ; the Great Eastern an increase of 4,3661. ;
and the Great Western an increase of 9,001/.
The Land Mortgage Bank of India have put out
an advertisement in which they state, that applica-
tion having been made to them to undertake the
agency of a credit foncier in the Mauritius, a
special general =rang of the shareholders has
been summoned for Monday, the 11th January, at
the London Tavern, for the purpose of considering
the propriety of enlarging the provisions of the
articles of association, so as to enable the company
to undertake such and similar agencies for other
companies throughout the British possessions iu
the East

The warrants for the half-year's interest on the
stock- of the Great Southern of India Railway Com-
pany are payable at the Union Bank of London on
and after to-day. The interest on the Mortgage
Bonds of the company is also payable to-day on
presentation.
The subjoined annual report on the Scotch pig
iron trade is from Mr. Thomas Thorburn, of
Glasgow :

The development of the iron resources of Scotland makes
steady programa. The variety of uses to which iron is being
applied is stimulating production, sad giving this country a
limbo, position among the iron-making nations of Europe.
In 1829, the year after the introduction of the hot-blast
proms', the total yield of Scotland was 20,000 tom. Fresh
discoveries of iron ores being made, new works were erected,
sod in 1851 the production bad picreased to 760,000 tons
per annum • the price that year aversgiug 40a. Id. per ton.
and the stock at the end of the same amounting to ;
350,000 tons. To-day there are 134 furnaces in blast, and
the computed production for the year now tenni-
sating amouota to 1,160,000 tons, thus abortive
an increase of 80,000 tom over 1862. The value
of the make for the year at the present price
npreseeta 3,800,0001. The average somber tf
furnaces in blast were 127, employing about 45,000 men,
and producing an average of 22,320 tons of pig non weekly. ,
According to authentic returns the quantity of pig iron ex •
ported, and consumed locally, reached 1,105,000 tons. In
my last aontud circular a considerable iocresse in the
stock was forecasted, which, to • certain cutest, has been
verified, the stock in warehoasekeepers' stores having in-
creased 42,000 toss, and in maker,' bands 13,000 tons. The
total stacks are therefore DOW 775,000 tons ; Urns showing
55,000 tom of so increase. By a glance at the annexed
table, it will be seen that the price is now 10a porters higher
than the average price of the last eighteen years, and
the highest reached since the revulsion of trade in
1817. Flactuatieg between s:is. at the °peeing of 1363.
and Ma in
.May last, the price has recovered and ascended,
with eccaswnal reactions of • few shillings, to 68e. 6d.,
making the average price for the y,..ar 555. 'Jd. a too. The
high price sustained during the past month in the face of
dear motley and declining exports. illustrates in a striking
manner the sanguine views of capitalists who have been

operating in this and other leading staples of prodas.
shipbuildingyards on the Clyde, the fouadrist and atallestia
iron works are generally actively employed, and the prime[
bar and angle iron has dammed fully fan par ton. It i•
gratifying reflection, that whilst the wealth and ectapra•
of Soaked arc reaping a rich harvest from this impales*
trivia, we are famishing to the world ships, steamers, aid
other manufactures of this branch necessary to prowsi//
and civiliestion, at prices below what have been achieved by
any other ace or country.

WEDNLqDAT ETOlpli

Consols, which closed yesterday at 914 to i az
div. for January 7, opened and closed to-day at the
same quotation. For money the last price was 9le
to 1. The official business report is as follows :
—Three per Cent. Consols, for money, 911, 1;
ditto, for account, 911 ; Three per Cods.
Reduced, 914, /,_4, ; New Three per Cents., 911,
t, I, 4, 1 ; Thirty Years Annuities, 1886,
4 13-16 ; Bank Stock, 234 ; India live per Cent.
stock, 1061, ; ditto Four per Cent. Debentures,
1864, 995 ; ditto Bonds, ; Five per Cent. "en-
faced" rupee paper, 1045.
After the close of the Stock Exchange Consols
declined 5 per cent., being quoted 911 to 1 for
January.
Indian government securities were steady. Ri
chequer Bills remain at 9s. to 4s. dia.
The foreign stock market was better during part
' of the day, but the advance was not fully main-
tained in the afternoon. The closing quotations,
however, were, in several instances, above those of
yesterday.
The demand for bank shares continues, and the
tendency of prices is upwards. An improvement
has taken place to-day in Agra, Alliance, Bank of
Victoria, Chartered Bank of India, Australia and
China, City Bank, Bank of Hindustan, London and
Brazilian, London and County, London Joint Stock,
London and South African, and South Australian
Bank. In miscellaneous shares there was au ad-
vance in Royal Mail Steam and Copper Miners of
England Preference. National Discount Shares and
Italian irrigation Bonds were also in demand.
The shares of the financial companies were
firm. International closed at 41 to 5 tem.
a;
General Credit, at 21 to 21 prem. ;
Financial, at 81 to 91 prem. ; and Mercantile
Credit, at 45 to 41 prem. Hudson's Bay were
last quoted 3to 21 dies., div. ; and Egyptian
Trading, 11 to 2 prem.
The shares of the newly-announced Mauritius
Land Credit and Mortgage Company opened at I}
to 2 prem., rose to 2to 25, and closed at If to 11
prem. It is notified that the list will be closed ea
Friday next.
Ocean Marine shares were last quoted to-day
145 to 15 prem. ; Thames and Mersey Marine, 51
to 54 prem.. being again higher; Universal
Marine, to ¢ prem. ; Commercial Union Assu-
rance, 35 to 4 prem. ; North British and Mercan-
tile Insurance, 18 to 5.
English and Swedish Bank shares were last quoted
2to 25 prem. ; Land Mortgage Bank of India,
2f to 25 prem. ; West India mid Pacific Steals,
to 15 prem. ; Contract Corporation, 35 to 1 prem. ;
Merchant Bank, 31 to 41 prem. ; Discount
ration, 31 to 44 prem. ; Littlehampton Steam,
55 prem. ; Consolidated Discount, 1 to 1 prem. ;
Gloucestershire Smelting, 11 to 21 prem. ; Nen-
stadt Charcoal Iron, 1 to 14 prem.