The Express.
London, England, 1863-06-29 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'CLoow..

The stook markets to-day are again genersll9
better owing to the statement from Paris that
Russia has determined to accede to the bases of the
representations made by the three powers on the
Polish question. A good effect has also been
produced by the arrival of nearly 800,0001. in
specie and bullion. The funds have experienced a
further improvement of 1 per cent. English
railway stocks have advanced, particularly Lon-
don and North Western, South Eastern,
and Lancashire and Yorkshire. The improve-
ment has extended to foreign securities, particularly
Turkish Coneolides and Mexican Bonds, but the
best prices of the morning have not been main-
tained to the present hour. The settlement is in
progress, and will be completed to-morrow.
At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Rental opened at
681 r. 50c., being Sc. better than on Saturday.
Consols are now quoted 921 to 1, ex div., for
money, and 921 so 1, div., for the account
(July 9). The official business report is as follows :
Three per Cent. Console, for money, 921, 92, 1;
ditto for account, 921, ; Three per Ceuta.
Reduced, 911, 92 ; New Three per Cents.,
91/, 92 ; Thirty Years AllllllitilMl/2 1885, 14 15-16 ;
India Five per Cent. Stock, 1081, 1;
Five and-a-
Ralf per Cent. " enfaced" rupee paper, 115 ; Ex-
chequer Bills, March, par ; ditto, June, 4e. dia.,

Par.
Mexican Bonds were in great demand in the
morning, and were purchased as high as 38, but
the last transactions recorded are at 374. Greek
Bonds, after being marked 371, are now quoted
36} to 37, being only 4 higher than on
Saturday. Italian Five per Cents. and Spanish
Passive Bonds have improved. Turkish securities
have likewise advanced, the loan of 1858 being now
quoted 691 to 704, a recovery of } perthat
of 1858, 701 to 711, being 1 better; and the Consolides
51 to 1, showing a rise of j since Saturday afternoon.
Transactions are recorded is follows :--Greek,
36}, 374, 361 ; ditto, for account, 374, 4, 364 ; ditto
Coupons,l74, ; Italian, 724; ditto, for account,72l;
Mexican, 374, 38, 371 ; ditto, for account, 374, 38,
371 ; New Granada, 154,16 ditto Two per Cents.,
313, ex div. ; ditto Deferred, 9} ; ditto
Land Warrants (Hectares) 7 ; Peruvian,
1862, 891 ; Portuguese, 1856, 1857, 1859, 1860,
and 1862. 491 ; Russian, 1822, 941 ; ditto 1862,
924 ; Sardinian, 894 ; Spanish, 55} ; ditto New
Deferred, 4911 ; ditto Passive, 341, 4 ; ditto for
account, 341, j ; ditto Certificates, 121 ;
Turkish, 1858, 70 ; ditto, for account, 701 ; ditto,
1862, 701, 714 ; ditto, 1863, prem. ; Venezuela,
1862, 57, 1 ; ditto, for amount, 584.
Confederate Loan scrip is better, at 2 to 1 die.,
while Turkish has declined to par to 1 prem.
Italian is steady, at 2} to 21 premium.
International Financial shares are steady at 51
to 5} pram., and General Credit and Finance at 1}
to It prem.
The shares of the Egyptian Commercial and
Trading Company are slightly firmer at 11 to 11

prem. •
The Shannon, from the West Indies, has brought
no less than 794,000/. in specie.
About 41,0001. in gold was sent into the Bank
on Saturday.
The Board of Trade returns for May are of a
satisfactory character, inasmuch as the mouth's
exports are shown to have been on a par
with those for the corresponding month of
the two previous years, while the figures for
the five months present • considerable increase,
not only over 1862, but also over 1861, when the
desolating iuflueuoe of the war in America had not
begun to be felt by trade.
An important undertaking is announced under
the title of " The Credit Metropolitan
(Limited)." The capital proposed is as much
as 3,000,0001., in 60,000 shares of 501. each,
with a first issue of 20,000 shares, which, it is pro-
mised, shall be " fairly divided amongst the
earliest responsible applicants." The direction is
very respectable, and comprises two members andl
one ex-member of the Metropolitan Board of
Works, two directors of the National Bank, the
contractor of the Metropolitan Railway, &e.
The object proposed is the important and
intelligible one of effecting metropolitan works I
and improvements under remunerative con-
ditions. It is proposed to follow the operations I
of the Metropolitan Board of Works, and to seise'
upon such opportunities as they present for the'
purchase and re-letting of advantageous sites, or
for the construction of buildings thereon. It is
also intended to erect buildings suitable for bank-
ing and other public companies, offices for mercan-
tile and professional firms, markets in crowded
neighbourhoods, and arcades iu fashionable locali-
ties, as well as to purchase and complete unfinished
dwellings. The field is unquestionably a very large
one, aud, with sound management, ought to pre-
sent much advantage.
Another new undertaking is the Leasehold In-
vestment Company (Liwited). In this case the
capital is 100,0001. (with power to increase to half
a million), in 10,000 shares of 101. each. The
object is the investment of capital in the purchase
of leasehold property ; " the surplus annual rental,
after payment of all outgoings and interest upon
the capital paid up, to be reinvested from time to
time in similar property." it is affirmed that pro-
perty of thisdescription may be purchasedto almost
any extent to pay 8 per cent., and return the
purchase money within the term of years. The
company also proposes to borrow money from
capitalists on security of its property, and to make
this available for further advances. The propo-
sition with regard to the apportionment of the
profits is, that "a fixed dividend of 6 per cent.
only should be paid to the shareholders for the first
three years, and that then, and thenceforward,
triennially or annually, a valuation of the company's
property be made, and the divisible surplus (above
the 5 per cent. already paid) appropriated as a
bonus upon the shares." The direction is respect-
able, and for the most part composed of persons
who have bad experience in the class of operations
contemplated.
With reference to the Greek debt, the following
is from the Money Market Review :
A deputation of the committee of Greek bondholders has
just had an interview with Earl Russell, for the purpose of
obtaining his lordship's good office% and consultin
of g with
him to the best means of drawing ths attentiou the
as
new Kiog, sod the Greek government, whenever it may be
finally constituted, to the simple fact of the existence of
Greek debt of 7,000,0001. Of course nothing definite can
be dime until the political queetiou is finally settled, and
the lonian Islands become pert and parcel h new
Greek kingdom, but some importance ia held to attach to
the mere act of drawing attention thus early to this long-
neglected liability. considering that Greece, to ite dis
Itgrac is
e,
has never hitherto formally recognised the debt.
high time that so important a preliminary should at least
be settled, ai,d to this object the committee are directing
their attention. - -

-
SATURDAY SVINING.
Consols, which closed yesterday at 92 to 1,
ex div., for the 9th of July, were first marked
this morning 921, and closed at 921 to 1. For
money the last price was 92 to 1. The
official business report is as follows :—Three per
Cent. Consols, for money, 92, 911, 92, ex div.
ditto, for account, 921, ex div. ; Three per Cents.
Reduced, 911, ; New Three per Cents., 911, 1 ;
Bank Stook, 232 ; India Five per Cent. Stook,
1091, 1 ; ditto Four per Cent. Debentures, 1864,
100 ; Five per Cent. "enfaced" rupee paper, 1061.
The India Five per Cent. stock was unaltered,
at 168 to 1, ex div. ; and Exchequer Bills at 4e. the.

to par.
The foreign stock market was decidedly better.
1 The principal recovery was in Greek Bonds, which
were in great demand, and closed It per cent.
I higher than yesterday.