The Express.
London, England, 1864-08-24 00:00:00

MOM SABIBT.,-(THIS D47J

Two °Twos.

The stock markets exhibit • somewhat better
tone to-day, yet no important variation has
occurred in prices, the amount of business
on she whole being still limited. Consols are
unchanged, and the movements in a few of the
British railway stocks have not exceeded } per
cent. Spanish securities continue to attract at-
tention.

There is no new feature in the discount market,
which remains quint, with an abundance of money.
The rate for good three months' bills is still 7} to
1 per cent. The charge for loans from day to day
in the-Stock Exchange is rather lower, at 3 to 4.
At Paris to-day, according to Mr. Renter's
telegram, the Three per Cent. Rentes opened at
6&r. 30c., showing no change.
Consols are now quoted 881 to 89 for money,
and 89/ to for the account (September 8).
The official business! report is as follows:—Three
per Cent. Consols, for money, 89, 881 ; ditto, for
account, 89/, I ; Tire per Cents. Reduced, 881,
1; New Three per Cents., sag, 1 ; India Stock,
210, 212; ditto Five pee Cent. stock, 1031, 1041;
ditto Bonds, 158. die. ; Exchequer Bills, March,
21s die. ; ditto June, 15e., 25e. die.

There was a strong demand this morning for
Spanish Passive Bonds and Certificates, and
a rise occurred in the quotations, the former
being officially marked 311, and the latter 13/. A
reaction, however, has since occurred, the present
prices being 301 to and 131 to ,1 respec-
tively. Conaolidis have risen 1 per cent., and
the Confederate Loan remains firm, at the
rise of yesterday. Subjoined are some of the
present quotations, viz. :—Turkisb, 1858, 72
to ; ditto, 1862, 691 to 701; ditto Con-
solides, 501 to / ; Greek, 231 to 1; Con-
federate, 781 to 791; and Mexican, 281 to 1.
Transactions are recorded as follows :—Bra-
titian, 101; ditto, 1863, 851 ; Egyptian,
1021 ; Greek, 231 to i ; Italian, for ac-
count, 661 ; ditto, Maremmana Railway, 72 ;
Mexican, for account, 281, 1; ditto, 1864, 26, 251 ;
Peruvian, 1862, for account, 791 ; Portuguese,
1856, tins., 47},1 ; Realism, 1850, 841 ; ditto, 1862,
881, 871 ; ditto 1864, scrip, 31 prem.;
Spanish New Deferred, for account, 431 ;
ditto Passive, for account, 31, 301, 311, 301 ;
ditto, Certificates, for account, 13/, f ; Turk-
ish, 1858, for account, 721 ; ditto, 1862,
for account, 701; Venezuela, 1862, for account, 57 ;
ditto, 1864, scrip, 101, 1 dia.
International Financial shares are now quoted
41 to 1 prem. ; General Credit, 21 to 3 prem. ;
London Financial, 91 to 10 prem. ; Imperial Mer-
cantile, 31 to 1 prem. ; Hudson's Bay, 161 to 1;
Anglo-Egyptian Bank, 21 to 3 prem. ; and Imperial
Mexican Railway, 1 to 1 prem.
There were no gold transactions of importance
at the Bank yesterday. The 103,0001. by the True
Briton, from Melbourne, has been taken to be re-
fined, after which its destination will be deter-
mined.

About 239,5001. in Australian geld is known to
be in course of transmission to England. The Wel-
lesley has been out ninety days with 95,0001. ; the
Norfolk, 73 days, with 31,5001. ; and the Garrawalt,
63 days, with 113,0001.
Messrs. Ford, Curtis, and Curtis, ship provision
merchants, have stopped payment, with liabilities
to the amount of about 100,000L,the bulk of which,
however, are stated to be secured. The unsecured
creditors are expected to obtain only a small divi-
dend.

In the foreign exchanges yesterday afternoon
there was a fair inquiry for bills, and rates were
generally without alteration. Subjoined is the
usual list :

Amsterdam, 3 mouths, 12.1 to g ; ditto, 3 den
11.18 to 19 ; Rotterdam, 3 mouths, 12.1 to ; Ant-
. warp, 3 menthe, 25.70 to 21; Hamburg, ms. tenon, 3
months, 13.94 to iioP.aris, 3days, 15.4b2.0. to 30i =B3.
1703 to Pttresiarg (per rouble). 3 months, the, 30/10 f ;
Vienna, oH. do., 3 months, 11.80 to 85; Trieste, If. ack.
L 3 mouths, ILBO to 85 ; 3 months, 471 to 48;
Oadis, S maths, 471 to 48 ; Leghorn, 3 mouths, 25.75
to 80 ; Groat, 3 months, 15.75 to 80 ; Mae, 3 months,
25.75 to 80 ; Naples, 3 months, 15.75 Is 80 ; Palermo,
3 month; 25.75 to 80 ; lleielna, 3 mouths, 25.75 to 80 ;
Lisboa. 90 days, 51f to a ; Oporto, 10 den. 311 10 I.
A letter from Constantinople mentions that the
government have reconsidered the question of a
fresh issue of Consolidiis, on which it had pre-
viously decided. It is reported that the present
intention is to convert the existing Serghis into
Sehima, with 5 per cent. interest, securities entirely
different in form from the Consolidds. There ap-
pears some doubt, however, which class of Serena
are described. The Syrian Serghis issued after the
disturbances in Syria are being steadily liquidated
through a sinking fund of 25 per cent per annum,
and are of comparatively small amount. It can
hardly be intended to refer to these bonds. The
other Smghis currant in Constantinople are simple
acknowledgments of debt issued by the several
departments of state, and have usually varied con-
siderably in price according to the means supposed
to be at the disposalL of each individual ministry.
The half-yearly meeting of the Berlin Water-
works Company took place yesterday, when the
directors' report was adopted. It stated the balance
at the disposal of the proprietors at 10,4001., and
recommended a dividend of 44. per share, free of
income tax. The balance remaining for future ap-
propriation is 1,1081. The undertaking is described
as making steady progress.
The prospectus has been issued of the Silerohane
and Gurtnsbille, Slate and Slab Company, with a
capital of 40,0001., in 41. shares. The object of
the undertaking is the purchase of the lease and
extension of the works of a valuable slate and slab
quarry now in full operation within a few miles of
Bantry, in the county of Cork. It is stated that
the demand foe slates exceeds the supply, and is
still increasing, and that consequently the profits
realised from these works are usually large. The
proprietors receive the whole of the purchase
money it shares.
The Courtier d'Orient of Constantinople states
that the statutes of the Ottoman Financial Asso-
eiation have been approved by the government, and
that an irad4 has been obtained authorising the
establishment of branches.

A special meeting of the London Joint Stock
Bank is called for the lbth September, to confirm
the resolutions for the increase of the capital.
Mr. James D. Thomson (Messrs. Thomson,
Watson, and Co., St. Peter's-chambers, Cornhill),
director of the European Bank, and Mr. J. W.
Holland, director of the Provincial Banking Cor-
poration have joined the board of the Aberaman
'Oita Crawsbay Bailey's) Iron Works. The applica-
tions for shares in this company have, we are
inforined, exceeded the entire capital.
The traffic return of the Atlantic and Great
Western Railway for the month of July shows a
total receipt of 332,098 dollars, being at the rate'
of 258 dollars per mile per week.
We are requested to state that the share list of
the Crystal Sanitarium Company will close on
Wednesday, the 31st instant.
the City of Washington, for New York, will call
at Qneaustown to-morrow, and messages will be
received at any of the Electric and International
Telegraph Company's offices in London up to 3.30
p.m., and in the provinces up to 8 pm. The
Scotia, for New York, will call at Queenstown
Sunday, August 28, and messages will be received
until the same hours.
Subjoined are the quotations of insurance, gas,
dock, and other shares, as given in the Stock Ex-
change list of last evening :
tssurence.—Alliaaes Bride!' sad Forid, 154 ; Oen-
menial Union, 911 1 ; English sad BoettlebLaw Life, 3f ex
dlv. • Guardiaa, 50 ; Indemaity Marie*, 134} ex div. ;
Low 811 11; Loud= 46f ;Marine, 92$ ; North British
sad Mercantile, 18 ; Roth We, 8 ; Thanes and Mersey
Maria* (Limited). 7 ex dlr.
Gaslight and Ooke.—(Sty of London A, 31f I ex die. ;
Ountnercial, New, 161 171 ; Great Central, 17f ;
84$ ex ; ditto Debentures, 106 ex div. ; loperlar

Continents], 84; Loudon, 84; Pluesix, ll4j 15 ; Bitelifey
321 pz di ; Surrey Coosumem 1111 ; Ueited Gewersl, a,
24 le; cur wrid, New, 54/ 4 ex dm.;
Witten, 17i 18i.
Dock& Load= and St. Katherina, 70i 70 ; Southway-
toe, 82.
Wetwawarilw.—Chigesa. 281 ex ; Bird Leman, 127 i
ex die. ; ditto, New, Di div.

TUIRD#T Bvsose.

The demand for discount remains without altera-
tion. In the open market the rates continue at 7f
to 1 per cent. On the Stock Exchange money has
been rather more wanted in connexion with the
large sales of Consols referred to yesterday, but the
charge from day to day was not more than 31 to 41
per cent, and for a week 5 per cent.
The probability of an early reduction in the Bank
rate of discount continues to be discussed, and in
some quarters there is a prevailing impression that
it will not be delayed over this week or the next at
the furthest. For some days past the Bank have,
in fact, done but a very moderate business, and in
the open market there is an abundant supply
obtainable on terms a half per cent below the
official minimum. Under these circumstances, it
would appear in the natural course of events that a
downward movement should immediately take
place ; but the position of the money market is
so exceptional that the directors will probably
hesitate before making any change. The period
for the shipments of silver to the East in exchange
for cotton has now come round, and it is known
that a considerable total is already engaged to be
despatched. A part of this demand will be supplied
by the large sum coming forward by the next West
India steamer, but this will at most prove only a
temporary relief. Further sums will probably be
taken from the Continent ; and to pay for these
remittances the usual course is to rely upon the
Australian and American gold that maybe received.
In the former case, however, it is to be remarked
that our imports for some time past have been com-
paratively moderate, a large proportion formerly
sent here being now forwarded direct to India.
From America also our receipts have been latterly
insignificant, the demand for Federal bonds in Ger-
many having sufficed to redress the balance of trade,
and to obviate the necessity of the export of specie.
It is therefore probable that we may witness within
a month a renewed drain of gold from the Bank ;
and to check these withdrawals as much as possible,
it may be considered advantageous to maintain
the present high rates of discount. Heavily as
these may press upon ordinary trade, it is
doubtful if they inflict greater injury than the
violent oscillations which would follow a sudden
reaction from a temporary decline. Whenever the
money market rises beyond a certain point there
is always a peculiar degree of tension, which renders
the public mind more than usually susceptible
to alarm. Hence it is desirable to avoid any action
which may turn cut by the circumstances of the
time to have been precipitate, although perhaps
fully warranted by all ordinary calculations.
Consols for the aoeount were first quoted 891 to
; receded to 89k, "sellers ;" and closed at the
opening price. For money, they left off at 89.
The recent continued fall appears to have at length
produced a partial reaction. The official business
report is sr follows :—Three per Cent. Consols,
for money, 89, 881 ; ditto, for account, 891 ; Three
per Cents. Reduced 881, I, New Three pee
Cents., 881, it it ir; Bank Mock, 244; India
Stock, 213 ; ditto ive per Cent. Stock, 1031,
1041. India Five per Cents. were last quoted
1031 to 104, and Exchequer Bills, 255. to 15a.
discount.

In the financial companies Imperial Mercantile
Credit slightly improved, while London Financial
were rather flat. The following are the final quota-
tions :—lnternational, ef to + prem. ; General
Credit, 2} to I prem. ; London Financial, 0} to 10
prem. ; and Imperial Meramtile Credit, 3} to 1

The market for joint stock bank shares has been
rather heavy, many of the principal descriptions,
especially foreign and colonial, showing a decline.
Imperial Ottoman closed a fraction lower, at 114 to
17f. Imperial Bank of China were exceptionally
firmer.
The transactions in miscellaneous shares were
moderate, and the changes comprised an advance in
Australian Mortgage, Joint Stock Discount,
Sociite. Financiers d'Egypte, and Telegraph Con-
struction ; and a reduction in British American
Land, Commercial Union Insurance, Copper Miners
of England, Financial Corporation, Madraslrri-
gation, and Rio Improvements. Hudson's Bay
shares were steady at 164 to I, and Egyptian
Trading at If to f prem.
The closing (but in some cases merely nominal)
quotations for shares in new undertakings are
subjoined, via. :—Anglo-Egyptian Bank, 23 to 3
prem. ; Ebbw Vale Company, par to f prem. ;
Humber Ironworks, 2} to 1* dis. ; Aberatnan
Ironworks, par to 1 prem. ; Imperial Mexican Rail-
way, fto f prem. ; and Hewett and Co., 1 to If
prem.