The Express.
London, England, 1864-05-10 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'Clocw.
The stock markets were favourably influenced
this morning by the announcement that an armistice
has been concluded between the Germans and the
Danes, and so bad effect was consequently produced
by the confirmation of the statement circulated
yesterday afternoon of the fresh rise in the rate
of discount of the Bank of France. Moat classes
of securities are now quoted rather better than they
closed yesterday. The English funds, and several
of the speculative foreign stocks have risen 4 to
per cent. In some of the home railway stocks the
advance is more decided.
The discount market is very quiet to-day, and
the supply of money large. The quotation fur
choice three months' bills is 9 to 4 per cent.
Consols are now quoted 914 to 4, with div. for
money, and 90f to f, ex div., for the account (June
8). The official business report is as
follows : Three per Cent. Consols, for
money, 914, 4,4, /, >4 ; ditto for ac-
count, 904, ; Three per Cents. Reduced, 884,
894, 881, 894 ; New Three per Cents., 89, 881,
894, 881, 891 ; Bank Stock, 237. 290 ; India Five
per Cent. Stock, 105, 1044 ; ditto Bonds, 25e..
245., 15s. die. ; Five-and-a-Half per Cent.
" enfaoed" rupee paper, 1114, 4 ; Exchequer Bills,
March, 125., 205., 10e. die. ; ditto, June, 40.,
.9s.
die.

Foreign stocks are firmer. Turkish Consolidds
are quoted 501 to 511 ; Mexican, 44 to I ; and
Spanish Passive, 341 to 1, being in each case
k to I higher than yesterday. Greek
Bonds are steady at 221 to 23*,
and Confederate at 65 to 67. Turkish Bonds
of 1858 and 1862 have risen about per
cent., the former being now quoted 681
to 69, and the latter, 701 to 71. Trans-
actions are recorded as follows: Danish,
1864, scrip, 4 prem. ; Egyptian, 100, 101 ; Greek,
for account, 23f, 1, 221, / ; Italian, for account,
671 ; Mexican, for account, 441, ; Portuguese,
1856, kc., for account, 471 ; Russian, 1862, 851,
86, 851, ex div. ; Spanish, for account, 521, 3 ;
ditto New Deferred, for account,4sl ; ditto Passive,
for account, 341,1, ; Turkish, 1858, for account,
681, ; ditto, 1862, for account, 71, ; ditto 100/.
Bonds, 71} ; Venezuela, for account, 221 ; ditto,
1862, for account, 55, f, ex div.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Renter opened at
66fr. 80c., being about 1 per cent. better than yes-
terday.
International Financial shares are now
quoted 6 to k prem. ; General Credit, 51
to 6 prem. ; Mercantile Credit, 11 to 1 ;
Hudson's Bay, 19 to f ; Credit Mobilier, 4 to 1
prem. ; Imperial Financial, 41 to 5 prem. ; Credit
Foncier (Great Britain and Ireland), 41 to 5} prem. ;
City Offices Company, Ito 1 prem.; International
Land Credit Company, 2to prem. ; Tele-
graph Cdnstruction and Maintenance, 1 to 4
prem. ; Millwall Ironworks, If t 3 4 prem. ; Im-
perial Bank of China, 1 to lf prem. ; and Humber
Iron Works, f to lf prem.
The demand at the Bank of England yesterday,
though still to a good extent, is resuming its
ordinary character, while the market generally
has become very quiet, the extraordinary rates now
current naturally causing holders of bills to keep
them back in the hope of a decline. At the same
time there has been a large increase in the supply
of money put upon the market by firms who over-
provided themselves during the recent pressure.
More willingness has consequently been shown
to discount good bills at 9 per cent. It is an
indication of the stste of opinion that six months
bills meet with increased inquiry at 9 to 10 per cent,
but this quotation is little more than nominal,
scarcely any paper of this description being on offer.
Houses desirous of keeping large reserves in readi-
ness for all eventualities continue to offer money
on short loan in the Stock Exchange, and the
supply there has consequently become so large
that the rates on English government securities,
which last week were as high as 9 per cert., yes-
terday sunk to 6.
"he large sum of 203,0001. in gold was sent into
the Bank yesterday. The greater portion of this
amount was brought by the Etna from New York,
and the rest formed part of 50,000/. in French gold
coin which arrived yesterday, in consequence of the
present high value of money. This is a feature of
much importance, and affords an illustration of the
extent of the pressure which is being put upon the
continental markets for our relief. About 250,0001.

more in gold is understood to be on the way to
England from the mane quarter. The 67,5001.
'Australian by the Dover Castle has been taken to
be refined, after which it will probably be sent into
the Bank. The arrival was announced yesterday of
the Star of Tasmania, from Otago 01. Z.), with
83,0001. A further considerable amount of gold is
expected to be bought by the Bank during the next
few days.

Some trifling orders having been received from
India, the bar silver by the last West India packet
was sold yesterday for that quarter, at Os. Id.
per ounce, being id. below the price obtained for
the previous remittance. In the interval the market
has been very flat, with an absence of business.
Mexican dollars are neglected.

The Stock Exchange Committee have appointed
Thursday next a special settling day in the 7,000
new shares of the Metropolitan and Provincial
Bank (Limited), which, however, are not to be
marked at present ; and Friday next a special
settling day in the shares of the following com-
panies :—Telegraph Construction and Maintenance
(Limited), National Financial (Limited), and Con-
tinental Union Gas (Limited), all of which are to
be officially marked. In the latter instance the
settlement officially applies to bargains effected on
and after the 28th April, the date of delivery of
the allotment letters.

The Brighton Railway traffic return shows this
week an increase of 5861. over last year, and the
South Eastern an increase of 1,1921.
A general meeting of the London snd Lisbon
Corkwood Company (Limited) is called for the 19th
inst., when a dividend is to be declared.
A special meeting of theMuswell-hill Land Com-
pany (Limited) is called for the 24th Mat, to con-
firm the resolution passed on the 21st ult. for wind-
ing up the undertaking.
The share certificates of the Telegraph Construc-
tion and Maintenance Company (Limited) will be
ready for delivery to-day (Tuesday).
The deed of accession relating to the stb extension
capital, 2nd issue, of the Madras Railway Company,
is now lying for signature.

We aie requested to state that the share list of
the Imperial Wine Company (Limited) will be
dosed to-day. _ _ _

Messrs. Beedging and Co., bankers, of Tunbridge
and Hastings, have notified that, in consequence of
the amalgamation of their London agents, Messrs.
Masterman and Co., with the Agra Bank, they
have transferred their &amount to Messrs. Barnett,
Hoarse, and Cu.

MomAy lyzainra.

The stock markets have today shown a degree
of buoyancy proportionate to the depression which
prevailed last week. There is a general belief that
the crisis in the money market is past, and that,
under the influence of the rapid accumulation of
gold—large amounts of which are being attracted
even from the continent through the force of our
demand—the rates of discount will soon break

f down, in the conviction that the alarm of lase
1 week was of an exaggerated character, and that the
wholesale closing of weak speculative accounts hen
placed the market intrinsically upon a mach
stronger basis, the speculators have to-day evinced
great confidence, and have bought freely.
At one period of the afternoon a check was
given to the upward movement by a report, w hich ob-
tained general circulation, that the Bank of Frame
had raised its rate of discount from 7 to 8 per cent.s
but this rumour remaining without confirmallea
during business hours, renewed buoyancy was ob-
servable at the extreme close. The rise in the
English funds was gto per cent., and in many
of the speculative foreign bonds 1 to 11 per cent.
Home railway stocks, though likewise better, were
relatively less buoyant, except Metropolitan, which
rose II per cent. The advance extended to bask-
ing, financial, and most other classes of securities. •
American, however, were heavy, upon the New
York news.

Consols, which closed on Saturday at 891 to 1 es
div. for the Bth of June, were first marked to-day
90, and closed at 90 3-16 to 5-16, or 901. Few
money the last price was 91 to 1 with div. The
official business report is as follows :—Three per
Cent. Consols, for money, 904, 91, 901, 911, 91,
with div. ; ditto for account, 90, 1,4, ex div. -
Three per Cents. Reduced, 881, t; blew Tree'
per Cents., 881, 1, „4' 1 ; India nye per Cent
Stock, 1041, ; Bank Brock, 239 ; Five per Cent.
enforced " rupee paper, 1031.
The India Five per Cent. Stock was firmer. The'
March Exchequer Bills were again lower at 20a. to
10a. die., notwithstanding the improvement in the
prospects of the money market. The June bills
were dull at 9e. to 4s. dia.

The foreign stock market was extremely buoyant,
and the rally was well maintained up to the clans
of business.
In the market for bank shares there were iEn-
tinct indications of recovery from the late demos-
Bioll. Alliance Bank shares roan as much as 4/ ,
Imperial 21. to 31., Bank of Hindustan 21., Stand-
ard Bank of Africa, and Mercantile and Exchange, If.
to 11. 10s., Anglo-Austrian 15e., and many other
stocks is. to 1/. per share. One of the most remark-
able movements was a spring of about 141. in tie
shares of the British and American Exchange Bonk,
the gambling transactions in which continue to
excite much animadversion. London and West-
minster Bank, Mexican Bank, and Loudon and
Buenos Ayres Bank shares were exceptionally flat.
Anglo-Austrian Bank and Anglo-Italian Bank
closed severally at to 11 prem.
Hudson's Bay shame have again risen about 55.,
closing at 19 to k. Egyptian Trading left off at
to 31 prem., an advance of 7s. 6d. Joint
Stock Discount have recovered to 2to prem.
National Discount, Commercial Union Assurance,
and Land Secnrities shares were all in demand.
Vat Diemen's bond, Nova Scotia Land and Goad,
and London and Caledonian Marine Insurance have
declined.

With the exception of Imperial Financial, which
were steady, the shares of all the financial
companies Lava advanced. International and
General Credit improved is. 6d. to 10s., and the
other companies 10s. to 15e. per share. The closing
quotations are annexed, viz.:—International, 6 to f
prem. ; General Credit, 5 11-16 to 13-16 prem. ;
London Financial, 11/ to f prem. ; Imperial Finan-
cial, 47 to f prem. ; Mercantile Credit, lot to Ilk
prem. ; Credit Mobilier, 31 to 4f prem. ; and
Credit Foucier, 4/ to 5/ prem.
The closing (but in some eases rarely nominal)
quotations for shares in new undertakings are
subjoined, viz. : —lnternational Land Credit, If
to 2 prem. ; City Offices, it to 1 prem. ; Take-
graph Construction, f to If prem. ; Imperial
Bank of China, f to 1/ prom. ; Mrllwall bon
Works, to 1 prem. ; Smith, Knight, and
Co., /to II prem. ; Fore-street Warehouse, to
4 prem. ; Humber Iron Works, f to 1/ prem.;
Italian Credit, to lA prem. ; Queensland Sheep.
3to 2 dia. ; Mauritius Credit Foucier, 1 die. to
par ; Ottoman Financial, f to f prem. ; Gelb-
rare, 2 dia. ; National Financial, par to prem. ;
Channel Steam, 2 to 3 prom.