The Express.
London, England, 1864-10-28 00:00:00

MONEY MARKET.-(71118 DAL)

Two o'CLoar.

The stock markets are again better to-day, owing
to the favourable Bank return and to the hope of
an easier money market. The funds have risen i
per cent., and many of the home railways to }.
Foreign bonds and financial shares are likewise
better.

The money market is rather more active to-day,
owing partly to the fortnightly settlement in the
Stock Exchange. The minimum for first class three
months' bills is 81 per mat. _

Consols are now quoted 89} to i for money, and
89i "buyers" for the account (Nov. 10). The official
bulimia report is as follows :—Three per Cent.
Consols, for money, 89f, ; ditto, for account,
89f, ; Three per Cents. Reduced, 87*, 1 ; New
Three per Cents., 871, it, ; India Five per Cent.
Stock, 104, ; Exchequer Bills, March, 4s. dis. ;
ditto, June, 14s. die.

Turkish Bonds of 1862 have risen 1 per cent,
Mexican 1, and a number of the other
speculative foreign stocks / to 1. Some
of the present quotations are annexed, viz.:.—Greek,
221 to e ; Mexican, 261 to 271 ; Confederate, 64
to 66; Spanish Passive, 311 to 1 ; the Certificates,
131 to 14k; Turkish Bonds of 1868, 68 to 69;
ditto 1862, 711 to ; and the Consolidds, 501 to 1.
Transactions are recorded as follows :—Chilian,
Four-and-a-Half per Cents., 82 ; Greek, 221 ; ditto
Coupons, for account, 91 ; Italian, for ac.
count, 641 ; ditto Maremmana Railway, 71};
Mexican, for account, 261, 271 ; New
Granada Deferred, 61; Peruvian, 1862, for sa-
-1 count, 811 ; Portuguese, 1856, &c., 461 ;
1822, 881; ditto 1862, 871, 88 ; ditto, 1864, 861;
Spanish, for account, 471 ; ditto Passive, 311;
ditto for account, 311, 1, 1 ; ditto Certificates, 14, ;
Turkish, 1838, for account, 681 ; ditto 1862, for
account, 711 ; ditto 1001. Bonds, 711 ; Venezuela,
1862, for account, 56 ; ditto 1864, 42, 411.
International Financial shares are now quoted
11 to prem. ; London Financial, 61 to 7
prem. ; General Credit, 21 to 1 prem. ;
Imperial and Mercantile Credit, 11 to 1 prem. ;
Hudson's Bay, 151 to 1 ; Ottoman Bociet4 0404-
rale, 1 to 1 prem. ; and Anglo-Egyptian Bank,
11 to Of dia.

The steamer Great Britain has arrived from Mel-
bourne, but the amount of gold on board has not
yet been ascertained.

Fous o'CLoci.

Consols au quoted 89} to ?, for money, and
891, "buyers," for the account, being about the
same as at 2 o'clock. No bullion operations of
any importance have occurred at the Bank.
The effect of the high value of money in con-
tracting trade is shown in the steady diminution
which is taking place in the number of mercantile
bills seeking discount ; and it may be safely antici-
pated that within a brief period the number of
borrowers will be greatly below that of lenders.
The inevitable result of this will be a fall in the
rates, which seems to be delayed only by the belief
that further mercantile failures must take place
before the heavy losses in cotton and other produce
can be cleared off.

The steamer Syria, from Alexandria, has brought
14,877/. in specie.
The Paris ',deices mention that the position of
the Bank of France continues to improve, 240,0001.
in gold having been sent into that establishment on
the 24th and 25th. Although the rate of discount
of the French Bank is 8 per cent., first class bills
are discounted elsewhere at 6 to 7.
The failure is announced of Messrs. J. W.
Morgan and Cu. in the cotton trade, with lia-
bilities for about 80,0001. or 100,0001., the greater
portion secured. The liquidation, according to
present appearances, will be unfavourable. In the
circular issued to the creditors the partners state
that they have recently suffered "some heavy and
unexpected losses." The books have been placed
in the hands of Mr. Saffery, the accountant.
A meeting of the creditors of Mr. John Catto,
in the foreign paper trade, was held yesterday. The
balance-sheet, prepared by Messrs. Quilter, Ball,
and Co., the aueountanta, estimates the liabilities
at 36,5581., and assets at 22,820!. net, showing a
deficiency of 13,7381. It appears that the gross
profits during a period of three years were 24,7721.,
and the trade expenses 23,2821., so that there was
not sufficient margin to meet losses. The estate
allows about 12s. 6d. in the pound. but is not ex-
pected to produce more than Bs. or 9s. It was
resolved to wind up under inspection.
The Lancashire and Yorkshire Railway traffic re-
turn shows this week an increase of 1181. over last
year ; the Midland an increase of 5,1611. ; the
North Eastern an increase,of 3,071/. ; and the Man-
chester, Sheffield, and Lincolnshire au increase of
4201.

lbe receipts of the Atlantic and Great Western
Railway for the month of September were 446,004
dollars, against 41)6,076 dollars in Angnst, 332,096
dollars in July, 314,521 dollars in June, and
214,679 dollars in May, when the number of miles
open was the same as now, riz., 322.
The telegram announces that the receipts of the
Grand Trunk Railway of Canada for the week
ending the Bth inst. were 27,6621. sterling, being
5,8811. more than in the corresponding week of
last year.
With reference to the recent announcement of
the amalgamation of the Midland Bank and London
and Northern hank, we are assured that great pains
have been taken to adjust the terms of the arrange-
ment, so as to make them equitable to both bodies
of shareholders. The general manager of the Mid-
land Bank was for about 22 years with the London
and County Bank.
A call of 31. is to be paid on the aliares of the
London and African Trading Company (Limited)
by the god Dec.
The return of the Bank of England for the week
ending Wednesday, Oct. 26, compared with that for
the precious week, shows the following changes :
Circulation inns
Circulation satire 20,968,10X user.... 274.600
Public deposits 3,723449449,960
Other deposit.
blovernment secusitiea in

banking &partisan% 9,41%461 Duman, 159,751
Other securities us banking
doparUnent
Coin and bullies in both

departments
Seven day and Mbar bill 666.840 Itscrsase 29.146
The Kest 3.273,896 Leaser 24,4 U
.
Notes in .... 6.097,2:70

reserveincidiallt 450,160
Total mons (notes it coin
in banking department) . 6,837,104 Increase 417,551
The Bank accounts continue to improve. The coin
and bullion present an increase of 143,5211., and as
only about one half of this consists of newly iza
ported gold, it would appear that tie reflux of
sovereigns from the provinces commenced. The
reserve also aho.. the satisfactory increase of
417,5511., which is chiefly due to the increase in the
government deposits. The private deposits have
somewhat decreased, but so also have the govern-
ment securities and " other " securities.

BANK Of IMOLA:PD. —An Account pursuant to the Act 7tb
and stn Vic ,c. J, for tie week ending on Wednesday, Oct. s
18dt.

IPSyll DitAIVIIIVT.

Notes lamed
A57.010.1.61' Government debt.. 011.015,100
Other am-unties 3,014.900
Gold min and bal-

. 14.4416,1116

Lf7.056,155

CV.034,156

usiunt•
MirMtorf Capital L 15.51.3,000
3.1748911,
Public Deposits
chiiiing &tabu..
Ser. Banks, Com-

Wife: ciiiiitirreal
Debt, wet Dlv.

Aryan ta) • 5.M,14111
Other Deposits
Sep so dey sad other
Bills