The Express.
London, England, 1863-05-01 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'CLoci.

This being the day for striking the half-yearly
balance at the Bank of England, the transfer offices
at that establishment are closed, and the Stock
Exchange is likewise shut, according to custom.
_ _ •.

At Paris this morning:acoordiugto Mr. Reuter's
telegram, the Three per Cent. Recites were quoted
69fr. 40c., being per cent. lower than yesterday.
The Bank return issued yesterday evening throws
little light upon the motives of yesterday's deci-
sion as to the rate of discount, and it must there-
fore be assumed that the Directors have been ac-
tuated merely by a wish to get business, by com-
peting with the other money dealers.
Nothing but a quiet condition of foreign politics
appears to be required to inaugurate a new era of
inflation. The Polish and American difficulties
may, therefore, perhaps be attended with a salutary
influence, because tending to restrain speculation.
A constant flood of new projects is, however, now
to be looked for as a matter of course.

It is rumoured that the operations of the Credit
Mobilier Society of Paris are about to be extended
to London.
An instalment of 5 per cent. falls due to-day
(Friday) on the Portuguese Loan, and one of 15
per cent, on the Italian Irrigation Company's

To-day being a holiday in the Stock Exchange the
business in Loeign exchanges was transacted yester-
day. Owing to the fall in the value of money here,
the tendency of the rates continues unfavourable to
this country. Subjoined is our usual list :
Amsterdam, 3 months, 11.174 to 19 ditto, 3 days,
11.154 to 16; Rotteedent, 3 months, 11.18 to 4 ; Antwerp,
3 months, 25.424 to 74 ; Hamburg, ma be, three months,
13.71 to 4 ; Pero, 3 days, 25.15 to 25 ; ditto, 3 months,
25.421 to 74 ; P'raakfaet-ao-thwMaiae, 3 months, 1191 to
; Potanbarg (per rouble), 3 mouths, 36A to f ; Vienna,
off. 60., 3 months, 11.40 to 50 ; Tri
to ort3 elf. do., 3 months,
11.40 to 50 ; Madrid, 3 mouths, 49 ; Out* 3 months,
484 to 49 ; Leghorn, 3 meow, 25. Ato74 ; Genoa.
moatha, 26.321 to 74 ; Mau, 3 ntontle, 26.52 f to 71
Maoist, 3. months, 25.521 to 7. ; Palermo, 3 months, 25.52 f
to 74 ; Masson, 3 months, 25.524 to 74 ; Lisbon, 90 days,
524 to 53; Oporto, 90 days, 53 to ~
The North Eastern Railway traffic return shows
this week an increase of 13,M.: over last year ; the
Manchester, Sheffield, and Lincolnshire, an in-
crease of 1,3831. ; the Lancashire and Yorkshire
an increase of 1411. ; the Midland an increase of
3,7931. ; the Great Northern an increase of 9831. ;
and the Great Western an increase of 1,0361.
The prospectus of the Dublin Cattle Market
Company is issued. The direction is highly re-
spectable, comprising three directors of Irish
railways and also Mr. John Bramley. Moore, M.P.,
director of the London and North Western Railway.
The company is incorporated by an act of parlia-
ment of last session. The object is to erect a
commodious market for cattle near the railway
termini and shipping quays of the city. The site
selected is stated to be very advantageous, and the
project appears to have already received a consi-
derable amount of support. Of the proposed
capital of 40,0001. in 101. shares, 15,0001. has already
been subscribed for.

The annexed circular has just been issued to
the subscribers to the ASIA Minor Company
(Limited):
Sir,—l am requested b 7 the directory of the Asia Minor
Company (Limited) to inform you that difficulties have
seines in the way of carrying out successfully the original
intention for which this company was formed. They have
therefore decided to recommend to the shareholders forth-
with to wind up the affairs of the company. The directors
trust that you will concur in the course they recommend to
M pursued arid 'frill be glad to hear from you to that effect.
—I am, he., G. R. HAYWOOD, Secretary.
Hartford-chambers, St. Ann's-square,
Manchester, April 29.

The new London Financial Association (Limited)
has been received with an extraordinary degree
of favour. The price opened yesterday at
to If prem., but an active demand was
soon experienced for the shares, leading to
considerable excitement. Transactions took place,
it is said, as high as 5 prem. Sales being in-
duced by the rapid advance, a reaction ensued, and
the final quotation was 21 to prem. Nearly the
entire capital of this undertaking has been sub-
scribed for, and the deposit thereon paid on this the
first day after the issue of the prospectus, though
the country applications have yet to come in.
Thus it is alreauy evident that there will be a very
heavy excess of subscriptions. The project appears
to have been received with jealousy in some Stock
Exchange quarters, from an idea that it is framed
in a spirit of antagonism to that body. We are
assured, however, that this is not the case, and
that, on the contrary, it enters into the company's
programme to allow the usual commission •to
broken on all business carried to it.

His Grace the Duke of Sutherland has joined the
direction of the General Steam Cultivation Com-
pany. It is stated that this undertaking has already
met with much support, especially amongst those
mostly to be benefited by it—viz., the agricul-
turist'.

An extraordinary meeting of the London and
North Western Railway Company is convened for
the 13th May to approve 14 bills now pending in
parliament.
An extraordinary meeting of the shareholders of
the London and South Western Bank is called for
the 14th May, in order formally to authorise the
directors to carry on business "at such place or
places as the board may deem advisable."
A special meeting of the London and Blackwell
Railway Company is convened for the 12th of May,
to consider the bill now in parliament, authorising
arrangements with the London, Tilbury, and South-
end Railway Company.
Creditors of the National Credit and Exchange
Company (Limited) are required to send the par-
ticularasof theirclaims to the official liquidator by
the 13th of May, the 27th having been appointed
by Vice-Chanoellor Kindersley for adjudicating
upon them.
A bill introduced by Mr. Layard in the House of
Commons, and ishich has been read a first time,
will, if carried through, doubtless check a great
evil—via., the manufacture of unsound cables and
anchors. Under the present system, these impor-
tant requisites for the service of our mercantile
marine are not tested under any recognised autho-
rities, and, consequently, in many casts are made of
very inferior iron, the effect being to add greatly to
the number of shipping disasters. It is now pro-
posed that the Board of Trade shall appoint an
inspector to exercise a general supervision over all
proving establishments for testing anchors and
cables under this act, and it is provided that it shall
be unlawful for makers or dealers to sell unproved
anchors or cables.
The second series of colonial wool sales com-
menced yesterday. The catalogue comprised—Syd-
ney, 1,199 balsa; Port Phillip, 1,600 bales ; Cape,
313 bales ; total, 3,112 bales. There was a large
attendance of buyers, both home and foreign, and
the sales have commenced with spirit at the rates
of the last Feb. and March sales.

The Emigration Commissioners invite tenders for
a ship to take passengers to Sydney, N.S.W.
The return of the Bank of England for the week
ending Wednesday, April 29, compared with that
for the previous week, shows the following changes:
Circulation isms 029,141,405 Dieresis 4:50,425
Circulation active
Public depurate 7,178.312 lucre's, 861.8008
Other deposita
Government neuritis' is
__

.--- 12,051,393 No change
Otheraecuritlea to banking
department
Coin and bullion in both

cfeiertoxents
Eleven day and other bills 684,333 DOOTONO 28,506
The Brat
Notes in reserve
Total reserve Notes kooin

io basking ciesertment). 9,130,027 Decrease 106,819
There appears to be nothing in these changes, per
ae, to warrant the fresh reduction in the rate of dis-
count just announced. Although the Bank's liabili-
ties to private depositors have been largely re-
duced, the falling-off in the private securities is not
important, while a decrease has taken place in both
the bullion and the reserve.