The Express.
London, England, 1863-10-05 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'OLooK.

The stock markets to-day are flat. The funds
have declined k per cent. Some influence is exer-
cised by the preparations for the monthly settlement
on Thursday. A check is also given by the continued
tightness of the money market, and by the approach-
ing creation of new securities. English railway
stocks are dull, but, except in one or two instances,
scarcely lower than on Saturday, but the mare
speculative kinds of foreign securities, especially
Mexican, present an almost general decline.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes were
quoted 67fr. 85c., being per cent. better than on
Saturday. . . .

Consols are now quoted 934 to ft both foe
money and the account (Oct. 8). The
official business report is as follows :—Three
per Cent. Consols, for money, 934, ;
ditto for account, 93#, ; Three per
Cents. Reduced, 911, 1, 92 ; New Three per
Cents., 92, 914 ; India Five per Cent. Stock,
108#, 4, 3 ; Bank Stock, for account, 239.
Foreign stocks are declining. There is a fall
of 11} per cent. in Mexican Bonds, consequent upon
the magnitude of the outstanding speculation, com-
bined with the conditional nature of the Arch-
duke Maximilian's acceptance, which, it is
feared, will involve considerable delay in the
settlement of Mexican finance. Turkish Consolid‘s
are ft per cent. lower, and the reduc-
tion extends to Greek, Egyptian, and New
Grenadian Stocks. Spanish Passive Bonds, how-
ever, are firm, and the Certificates have
slightly improved. Some of the present quota-
tions are annexed. Turkish 1854 Loan, 944 to
954 ; ditto, 1838, 70 to 7 ; ditto, 1862, 70/ to
71 ; the Consolidis, 53# to 1; Mexican, 444 to 4 ;
Spanish Passive, 354 tot; and the Certifs.,l3l to 1.4 f

Transactions are Zeoc;ded SA follows :—Brazilian
Old Five per Cents., 1001, ex div. ; ditto, 1852,
1858, 1860, 95 ; Buenos Ayres, for account,
944 ; Egyptian, 100/ ; ditto, second issue,
1001, 101 f Greek, for account, 371, ; Italian
(Maremmana Railway), 811 ; Mexican, for account,
451, 441, 45, 441 ; New Granada, 16, 1, ex div. ;
Peruvian Four-and-a-Half per Ceuta., for account,
88; Portuguese, 1856, 1857, 1859, 1860, and 1862, for
account, 491 ; Russian, 1862, 93, 1 ; Spanish, for
account, 55; ditto, Passive, for account, 354,1, I ;
ditto, Certificates, for account, 141, 134 ; Turkish,
1854, for account, 95 ; ditto, 1862, for account,
70f, I, 711 ; Venezuela, 1862, for amount, 62, 1.

The Confederate Loan is rather flatter, at 24 to
22 discount. The Colombian Loan is steady, at
to 1 prem.

International Financial shares are quoted 5k
to 6 prem. ; and London Financial, 3i to 4j
prem. General Credit and Finance slightly
lower, at 3j to prem. ; Hudson's 'lay are with-
out alteration, at to k dia. ; and Egyptian
Trading, at 2k to 2 prem.

The Wave of Life has arrived from Melbourne
with 162,0001. in gold.

The only market in which indications of real
weakness are presented is that for foreign stocks ;
here a wholesome reaction from the recent specu-
lative excitement is in progress. It is felt that the
outstanding speculation for higher prices, besides
being too large to be safe, has become weak in
character. This is, indeed, sufficiently shown by
the very high rates of interest which prevailed at
the recent settlement—rates which none but very
sanguine or needy operators would submit to. Many
firms who are in the habit of lending money in the
Stock Exchange seem less disposed to do so in the
state of tension now existing in this market. The
more prudent of the weak speculators are accord-
ingly taking the hint and closing their accounts.
The market is thus being gradually placed on a
sounder basis without any absolute collapse in
priced-

The disposition to moderate the speculation in
foreign stocks is increased by the prospect that atten-
tion will shortly be diverted to, and the market for the
time almost monopolised by, the various new secu-
rities in course of preparation. Many new pro-
jects are coming forward. The first, expected to
be launched this week, under the auspices of the
General Society of Credit and Finance, with an
influential board, is a Land Mortgage Bank foe
India. The object of this undertaking is the useful
and legitimate one of employing money raised on
debentures in first mortgagee of improving laud and
other real estate in India, where an establishment
of the sort is much wanted. The expected Anglo-
Austrian Bank will probably not be long delayed ;
an Anglo-Russian bank, on a large scale, is being
organized ; and a project for a large Mexican bank
is understood to be already committed to powerful
hand& Then, with regard to new loans, the
Mexican and Greek are sure to come ; the contract
for a Portuguese loan of moderate amount, fur
railway purposes, ie signed ; a Brazilian loan is
rumoured to be not far distant ; and it is even said
that the Viceroy of Egypt is disposed to make
another draught upon his high credit in the
Western money market. The supply of new
securities will thus probably be equal to the
demand.

It is inferred that the principal immediate liabili-
ties in connexion with the present season Laving
now been met, the payment of the dividends, and
the liquidation of the India Four per Cent. Deben-
tures, due on the Bth, will render the market
somewhat easier. It must be borne in mind. how-
ever, that the dividends this month are not due
until the 10th, and will, therefore, not be payable
until Wednesday, the 14th.
About 25,000 sovereigns were withdrawn from
the Bank on Saturday for exportation.
The Parana has reached Southampton from
Brazil, with 22,0511. in specie.
The balance (28,2501.) of the New Zealand loan
offered by the Bank of New Zealand, was taken up
on Saturday at prices rouging to 51. Ile. premium.
No tenders at the minimum were accepted, and
about 10,0001. was offered beyond the amount re-
quired.
The agents-general for Crown Colonies will
receive tenders until one p.m. on Thursday, the
15th inat. for Cape of Good Hope Government
Six per Cent. Debentures to the amount of 150,0001.
Securities of this colony now rank in the market
amongst favourite investments.
The particulars are published of 16 bonds of the
Swedish Provincial Mortgage Loan which have
been drawn, and are to be paid off at par on the
Ist December. .

The following circular announces a further divi-
dend of Is. in the poun,l on the estate of Messrs.
Reid, Irving, and Cu., who failed iu 1847 with
large liabilities :
_ . . . .

2, Gmham•ylaae, Lombßrd.stteet, London,
Oct. 1, 15413._

Sir,—Referring to our announcement of the 20th January
last, we h►ve to apprise you that we are prepared to per a
further dividend of ls. in the pound, on end from the ttth
inst., Saturdays excepted, between the hours of 11 and
2 o'clock, and against the production of the usual securities.
The 000tinued depreciation iu the value of surer is still
detrimental to the prompt collection of the Mauritius assets,
but we are making progress therein, ►nd we hope to declare
a further distribution in the course of next year, and to
report Ike realisation of our mortgage claim.. ea estates in
Jamaica, which are shortly to lw offered for sale in London
under the Encumbered Estates Act —We are. Ac.,
RCM, IRVING, AND CO.
A call of 2L is to be paid on the shares in the
Factage Parisien (Limited) by the 31st instant.
The half-yearly meeting of the West Flanders
Railway Company is called for the 27th October in
Lpndon, and the 31st at Bruges, and that of the
Sambre and Meuse Railway Company for the 28th