The Express.
London, England, 1863-12-08 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'llooz.

The stock markets to-day are generally better,
owing to the more favourable tone of the City
'articles of the morning journals. The funds show a
recovery of per cent. Home railway stocks are
likewise rather firmer. The principal rally, how-
ever, is in some of the speculative foreign stocks.
There is atthe same time, an absence of animation.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes were quoted
67fr. 15c., showing no alteration.

- ,
Consols are now quoted 901 to 4, ex div., for
money, and 914, " sellers," ex div., for the
account (January 7). The official business report is
as follows :—Three per Cent. Consols,for money, 901,
; ditto for account, 91, 901, 914 ; Three per Centa.
Reduced, 904, 3 ; New Three per Cents., 901, 4,
; Thirty Tears' Annuities, 1885, 141 ; India
Five per Cent. Stock, 1064, 3 ; ditto Bonds, 10s.,
3s. dis ; and Exchequer Bills, 75., 12s. die.
Foreign stocks are better, especially the specula-
tive descriptions. There is an improvement of
per cent. in Turkish Bond. of 1854, 1 in Spanish
Passive and Greek, and lin Mexican. Some of the
present quotations are annexed :—Turkish 1854
Loan, 884 to 894 ; ditto, 1858, 694 to 1 ; ditto,
1862, 604 to 3 ; Greek, 251 to 264 ; Mexican,
324 to 33 ; Spanish Passive, 324 to 334 ; Brazilian
Scrip, 2 to 1 dia. ; and Portuguese Scrip, par to
prem. Turkish Consolid‘s have risen to 46 to 4.
Transactions are recorded as follows :—Egyptian,
984, 99 ; Greek, for account, 254, 4,1, 4, 26 ; ditto
I Coupons, for account, 124 ; Italian, for account,
701 ; Mexican, 321 ; ditto for account, 321, 4,4,
33 ; Pcatugnese, 1866, die., 484 ; ditto, 1863,
scrip, 1, prem. ; Russian, 1862, Kt,
88i ; Spanish, for account, 53/ ; ditto Passive,
for account, 323, 1,4, 33 ; ditto Certificates, for
account, 131 ; Turkish, 1854, for account, 89 ;
ditto 1862, for account, 691, 69, 3 ; Venezuela,
for account, 244.

International Financial shares are quoted 31
to 41 prem. ; General Credit, 2/ to i prem. ; Lon-
don Financial, 71 to 81 prem. ; Mercantile Credit,
24 to 3 prem. ; Hudson's Bay, 31 to
S dis. ; Egyptian Trading, I} to 11
prem. ; Merchant Banking, 4,} to 6 prem. ;
Mortgage Bank of India, 2to 1 prem. ; National
Steam, 3, to 4 pm.; West India and Pacific Steam,
1 to 11 prem.; English and Swedish Bank, 21 to 31
prem. ; East London Bank, 1.1 to 21 prem. ;
and Discount Corporation, 31 to 4/ prem.

TEN M 30128 PAST Two o'CLoca.
Consols are now better, at 911, "sellers," ex
div., for the 7th January.

The disposition to embark in new enterprise
remains perhaps as strong as ever, and it is
probable that a renewed impetus will be given
to it directly the present weight on the money
market is removed. Meanwhile, the present quietude
will be attended with beneficial results, as it will
give the market a rest, and allow time for the
absorption into steady hands of the large mass of
new stock lately created—a process which will be
accelerated in proportion as the fall in prices
induces bona, fide buyers to come forward.
The drain of gold from the Bank continues.
About 100,000 sovereigns were withdrawn yester-
day for exportation to Brazil by the steamer
which will leave Southampton to-morrow, and a
larger amount is expected to be taken to-clay
for the same quarter. It is said, however, that a
portion of the sums which it was recently contem-
plated to send by this opportunity has been coun-
termanded. Another favourable feature yesterday
consists in the receipt of a telegram, dated Alexan-
dria, Monday morning, which states as follows :
" Money abundant here : present rates profitable.
Stop gold shipments until further &deices. Ex-
change, 94.50. Sovereigns, 97.59." It seems
likely, therefore, that the exportation of gold to
Egypt will slacken, and, as there are some indica-
tions of a diminution in the demand for Brazil
and India, while the efflux to the Continent has
apparently ceased, we may be allowed to hope that
the stringency in the money market here is gradu-
ally bringing about a cure, so far as regards the
pressure upon us from several of the most seri-
ous sources of foreign demand. At the same time
it will be observed that the reassuring features are,
at best, of only a negative character ; they indicate
a diminution of the recent heavy drain upon the
Bank's resources, but do not hold out any present
prospect of a recovery taking place in them.
The discount market is still tight, and likely to
remain so as long as the present financial uncer-
tainty luta, although the supply of money is con-
siderable. Business in the general market is cir-
cumscribed, owing to the indisposition of holders
of money to lend under present circumstances.
The terms for choice paper are 81 to 9 per
cent., and the latter rate is required for
six months' bills. The market being in
this condition, an unusually large portion
of the applications are still diverted to the Bank of
England, where the demand yesterday was again
strong. There is an impression that the Bank con-
template further restrictions in respect of the ad-
vances which they make at this period of the quar-
ter, and to which the discount establishments are
admitted. Hitherto it has been the practice of the
Bank to go on granting these advances up to the
period of the payment of the dividends.
The bont of the Six per Cent. Colombian Loan
will be ready for delivery, in exchange for paid up
scrip, on the 10th inst.
An instalment of 10 per cent. falls doe to-day
(Tuesday) on the last Italian Loan.
The bar silver by the Mexican packet was sold
yesterday for India at sa. lid. per ounce, being id.
above the price obtained for the previous remit-
tance. The receipt on the 28th ult. of much higher
quotations of exchange from Bombay caused a strong
demand for this metal, and a considerable amount
was purchased fortransmiasion thither vii Marseilles.
The inquiry has since been greatly checked, how-
ever, by the increased value of money, combined
with the announcement in the last advises that the
Bombay mint was unable to keep pace with the
large arrivals of silver from Europe. There is no
demand for Mexican dollars, and, to effect sales,
lower prices would have to be submitted to.
The remittances of gold from Australia to Eng-
land continue upon only • moderate scale, a large
portion of the yield being still diverted to India.
The total shipped from Melbourne during the
month, as announced by the present mail, is only
378,0001. The Monarch, with 247,500 t, 'pre-
viously referred to, is still at sea, however, and is
now due.

The Committee of the Stock Exchange have ap-
pointed Friday next a special settling day in the
shares of the English and Swedish Bank (Limited)
and the Merchant Banking Company of London
(Limited), both of which mete be officially marked.
The committee have also ordered the shares of the
Oriental Commercial Company (Limited) and the
new Six per Cent. Bonds of the Ottoman Railway
Company to be quoted in the official lists.
The South Eastern Railway traffic return shows
this week a decrease of 1771. compared with last
year, and the Brighton a decrease of 1,6201.

MONDAY EV.MITING..

Consols, which closed on Saturday a 901t;91,
es div. for the 7th Jan., declined this morning to
90/ to L and closed at 901 to 91. For money
the last price was 903 to 4, ex div. The
official business report is as Wows :—Three per

Cent. Comb's, for money, 904, I, 4, 4 ; ditto, for
account, 901, 91, 99j, 91 ; Three per Cents.
Reduced, 904, I, 4 ' • New Three per Cents., 904.
4,4, I 4 ; India Stock, 224 ; ditto Five per
Cent. Mock, 1064, 4 ; ditto Four per Cent. De-
bentures, 1864, 994 ; Four per Cent. " enlaced •
rupee paper, 96 ; ditto Five-and-a-Half per Cent.,
113, I.
The India Five per Cent. stock was steady.
Exchequer Bills remain at 10a. to be. dia.
In the market for bank shares the tendency at
prices WAS downwards as regards several descrip-
tions, including Anglo-Austrian, Bank of Egypt,
Brazilian and Porturlise, British and American
Exchange, British Columbia, Continental, London
Bank of Scotland, London and Brazilian, London
and Colonial, and National Bank of Liverpool.
Anglo-Austrian closed at i to 14 prem. Bank of
British North America and Imperial Ottoman were
firmer. Discount Corporation, Royal Mail Steen%
and United Kingdom Telegraph shares have re-
ceded.
International Financial shares were steady at 34 te
4 prem., and General Credit, at 2 3-16 to 5-19
prem., while London Financial declined 5e., closing
at 74 to 8 prem. Mercantile Credit have fallen te
3to 34 prem. upon the settlement to-day. and-
son's Bay have fallen to 34 to 3 die. Egyptian
Trading were dull at 14 to 11 prem.
Ocean Marine shares were last quoted to-day
124 to 13 prem. ; Thames and Mersey •
44 to 4 prem. • Universal Marine, par
hUrm3i
prem. ; Commercial to
Union Assurance, 24 to
prem. ; Oriental and General Marine, 14 to
prem. ; and North British and Mercantile, 174
to 18.
English and Swedish Bank shares were last quoted
24 to 34 prem. ; Land Mortgage Rank of India,
2 to 24 prem. ; Constantinople and Alexandria
Hotels, 2 to 24 prem. ; National Steam, .14 to 4
m7)Merchant
3; Merchant Bank, 44 to 6 prem. ; Discount
ration 34 to 44 prem. ; London and Cale-
donian Marine, par to 4 prem. ; Littlehampton
Steam, 24 to 24 prem. ; West India and Pacifie
Steam, 4 to 14 prem. ; and Australian Land and
Mortgage, 4 die. to par.
Messrs. De la Rue and Co. have binned their
I Improved Indelible Diaries, Pocket Books, and Me-
morandum Books for the year 1864, which is leap
year. These publications are remarkable for the
completeness of their references and general infor-
mation, particularly that of a mercantile character.
while, as regards beauty of style and clearness et
typography, it would seem impossible to excel
them. The Red Letter Calendars, issued by the
same firm, are likewise in their way perfect little
gems.