The Express.
London, England, 1862-01-15 00:00:00

:-(THIR DAY.)

MONEY

Two o'Ornoi.
The funds retrain fat. A further decline of }
per cent, has taken place to-day in Consols. In
the share markets preparations for to-morrow's
settlement hail) formed the duly badness of im-
portance. As regards English railways, the ten-
dency of prices ia rather drooping, but the alteration
is not of much importance. Other securities are
generally firm.
At Paris this morning, according to Mr. Ren-
ter's telegram, the Three per Cent. Berates opened
at 67fr. 26c., being Sc. better than yesterday. The
telegram states that the " Rentes are firm," but
" other securities heavy."
Consols are officially marked 94 1, and
93 for money, and 93} and } for the se-
oount. The present quotations are 93}
for cash, and 93} to } for the 6th February.
The official business report is as follows :
Bank Stock, 239, 241 ; Three per Cents.
Reduced, 93, 92}, 1, 93 ; New Three per Ceuta.,
921, 93, 921, 93 ; Thirty Years' Annuities, 1886,
15 7-16 ; India Stock, 225 ; ditto, The per Cent.
Stook, 1061, 106, ft, 1061 ; ditto for account,
1061 ; ditto Four per Cent. Debentures,
1864, 991, 1; ditto Bonds, 27a., 255. prem. ;
Four per Cent. " enf aced" rupee paper, 86} ; ditto
Five per Cent., 100, 99/ ; ditto Inve-and-ri-Half
per Cent., 1051 ; Exchequer Bills, March, 17a.,
15e. prem.; ditto June, 205., 18e., 21e. prem.
Spanish securities have advanced, including the
Coupon Certificates, which are last marked 7.
Mexican and Turkish are steady. The Turkish Loan
of 1864 is now quoted 82} to }, and that of 1898,
721 to 1. Sales are recorded as follows :—Brazilian
Five per Cents.,lB43, 99 ; ditto, Four-and-a-Half per
Cents., 1860, 91} ; Italian Five per Cents., 631,
ex div. (exchange 25fr.) ; Mexican Three per
Ceuta., 284, } ; Peruvian Four-and-a-Ralf
per Cent. Dollar Bonds, 87} (exchange, 4a.);
Russian The per Cents., 99 ; ditto Three per
Cents., 1869, 591 ; Spanish Three per Cents.,
62, ex div. ; ditto New Deferred Three per
Omuta., 421, I, ex div. •, ditto, for account,
421 ; ditto Passive, 17} ; the Committee's
Certificates, 6}, 7 ; Trkish Six per Cents., 1854,
82} ; ditto Six per Cents., 1868, 721, f ; ditto for
account, 721 ; ditto 1001. Bonds, 74; Venezuela
Three per Cents., for account, 23}.
At a meeting to-day of the English creditors of
Messrs. Froom, Gregory, and Co., Russian mer-
chants, it was resolved that an accountant shall
proceed at once to St. Petersburg to investigate
the estate and to represent the English creditors.
The partners estimate the liabilities at about
200,0001., including 80,0001. due to English credi-
tors, and the assets at 206,0001.

FOUR O'CLOCK.
Consols are without change, at 93} flilk money,
and 94 to for the account.
The packet from America brings the ex-
pected intelligence of the suspension of specie
payments by the banks of New York, Boston,
Philadelphia, and other leading establishments
throughout the country (a few in the City of
New York excepted), as well as by the
Federal treasury. This is essentially a war
measure, and the resolute manner in which
it has been accepted affords little encourage-
ment to the hope that the struggle is near its close.
It is at the same time notified that, doubtless as •
consequence of the measure, the exchange on Lon-
don, which was previously quoted 1101, has risen
to 112. Gold, it is presumed, will henceforward
command a premium in the American markets ;
and, as it is certain that if America owes a balance
to Europe she must discharge it in the usual re-
cognised medium, no matter what her own internal
arrangements may be, it seems reasonable to ex-
pect that the exchange will settle at such a point
as will allow for the current premium on gold,
e., for the cost of getting it with a
view to remittance abroad. The means
of remitting gold to Europe will still exist in the
large amount of Californian gold which flows
month by month into the New York market,
and which will no longer find its way into the
' banks, although the passion for hoarding may,
perhaps, cause its possession to be keenly com-
peted for. Except therefore as an indication of
I the energy with which the country bends its whole
strength to the war, the present announcement is
not of particular interest to our community. It
may be pointed out that the prices of commodities
will probably be raised, because they
will now be paid for in a medium
of exchange less valuable than gold. For
example, to-day's news reports a rise in the prices
of American securities. This is natural, because,
as sellers are not to be paid in gold, but in paper
at a discount in relation to gold, they require an
increased price for their securities as a compensa-
tion. As matters at present stand, the fact that
the banks suspend payment not from want of
specie, their stock being unusually large, but
merely from the exigencies of war, and by way of
precaution, is calculated to encourage a hope that
a resumption, whenever a happy change in affairs
shall admit of it, will be attended with much less
difficulty and derangement than is usually ex-
perienced on such occasions.
The total of the Moorish Loan applied for
in the two days is, we believe, 3,220,0001.,
being about seven times the total required. In
consequence of the extraordinary influx of sub-
scribers, the following announcement, notifying
that the list will be closed to-day (Wednesday),
has been lamed. Under the circumstances, this is
the best mune that could be adopted, for to keep
the subscription open until Friday, as originally
contemplated, would have the effect of causing a
great deal of needless disappointment.

(Copy.)
Innate!. Moos= LoA3.—The contractors for this loan,
in order to save trouble and disappointment, beg to an-
nounce that the applications having already very largely
smoseded the amount regmired, the subscription het will be
dosed to-morrow, Wedneaday, the 15th lost., at 2 o'clock.
(Signed) Rosissox and Funniso.
Jan. 14,1862. rILILIP P. BLTTII.
The holders of Venezuela Bonds have been looking
with great interest for the arrival of the new Minis-
ter to this Court from Venezuela. We understand
that the minister' bas reached this country by the
present packet. There is an impression that the
new government are very desirous of raising a loan
of 000,0001. or 700,M01. in Europe and, that
to secure it they would be willing to make a spe-
cial hypothecation of the customs revenues
of La Ouayra and the other ports of the republic.
No proposal of this kind could be brought forward
unless the affairs of the existing bondholders were
previously placed on a more satisfactory footing.
The influx of Australian gold to the Bank con-
tinues. The air ount taken there yesterday was
1215,0001., making Nl,OOOl. since the last return.
The America, from New York, has brought about
11,0001. in specie.
Of the 87,0001, by the Seine, from the West
Indies, 52,0001. is silver and 35.0001. gold.
The tendency of the foreign exchanges yesterday
afternoon was again unfavourable. The principal
decline was in the rates on Holland. Subjoined
is our usual list :
Amsterdam, 3 months, 11.111 to 18 &Owl 3 days
i 11.151 ,to 16 ; Sdtadae, 3 months, 11.174 to 18
Antwerp. 3 watts,Bamberg, ion team.
. 3 math% 134 i to ; Pszis, days, 26.171 to 124 i AM%