The Express.
London, England, 1863-12-11 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'Ospoz.

The stock markets opened this morning with
steadiness, in conseqnence of the favourable Bank
return, but have 'Moe become heavy, the
aspect of the question of the Danish Duchies
having apparently induced some specula-
tive realisations. The funds have declined
k per cent. Home railway stocks and the specula-
tive foreign securities have given way.

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Rentes were quoted
67fr. 30c., showing no change. _ _

Consols are now quoted 901 to 1, ex cliv.,
for money, and 911 to 1, ex div., for the
account (Jan. 7). The official business report
is as follows:-Three per Cent. Consols, for
money, 901, 91, 901 ; ditto for account,
914, 4 ; Three per Cents. Reduced, 901, 91,
901, 91; New Three per Cents., 901, 91,
901; Bank Stock, 235, 237 ; India Stock,
221 ; ditto Five per Cent. Stock, 1061,
1 ; ditto for account, 1061 ; ditto Bonds, Be.,
se. dia. ; Five per Cent. " enfaoed" rupee paper,
1031, 103, 1 ; ditto Five-and-a-Half pee Cent.,
1121, 1131 ; and Exchequer Bills, 75., 12s. dia.
Foreign stocks, after opening ste►dily, have
fallen, especially the speculative descriptions.
Mexican Bonds have declined 4 per cent., Greek
and Turkish Consolidds 4, and Spanish Passive
1. Some of the present quotations are annexed :-
Turkish 1834 Loan, 881 to 894 ; ditto, 1858, 70
to 4 ; ditto, 1862, 70/ to 1 (being 1 per cent.
higher than yesterday) ; the Consolidds, 464 to 1 ;
Greek, 251 to 1 ; Mexican, 341 to 4 ; Spanish Pas-
sive, 331 to 1 ; and Brazilian scrip, 14 to 1 dia.
Transactions are recorded as follows:-Brazilian,
1839 and 1859, 99 ; ditto 1863, 861;
Belgian Four-and-Half per Cents., 971 ;
Dutch Two-and-a-Half per Cents., 641 ; Egyp-
tian, 98,1 ; ditto, second issue, 984 ; Greek,
for account, 261, 251 ; ditto Coupons, for ac-
count, 12; Italian, for account, 704 ; Mexican,
35 ; ditto for account, 341, 361, 344, 4,
; New Granada Deferred, 31, ex div. ;
Portuguese, 1853, for account, 481, ; ditto 1856,
&c., for account, 481, 1 ; ditto 1863, scrip, 1, I
prem. ; Russian, 1822, 92, 91 ; ditto, 1850, 88 ;
ditto, 1862, 881, 1, 4 ; Sardinian, for account, 854,
ex div. ; Spanish Passive, for account, 334, 4 ; ditto
Certificates, for account, 13, 4 ; Turkish, 1858,
for account, 704 ; ditto, 1862, for account, 704, i ;
Venezuela, for account, 231 ; ditto 1862, for ac-
count, 554.

International Financial shares are quoted 44
to * prem. ; General Credit, *to * prem. ; Lon-
don Financial, 7j to 84 prem. ; Mercantile
Credit, 41 to g prem. ; Hudson's Bay,
n to 2* die. ; Egyptian Trading, l to 1
prem. ; Merchant Banking, 31 to 4 prem. ;
Land Mortgage Bank of India, 21 to prem. ;
National Steam, 3! to 41 prem. ; West India and
Pacific Steam, 14 to 2 prem. ; English and Swedish
Bank, 3to * prem. East London Bank, 2to
prem. ; Discount Corporation, 41 to prem. ; and
Floating Dock, 1 to n prem.

The discount market yesterday was decidedly
easier, and the rates showed a drooping tendency.
In exceptional instances transactions took place I
per cent. below the Bank minimum, but, as a rule,
bills for which to 9 per cent, would have been
demanded during the last few days, were yester-
day taken at 8. Six months paper was in demand
at 8 per cent. The supply of money generally was
large, and holders were apparently only restrained
from lending more freely at the present high rates
by a vague apprehension of a resumption of the
adverse movement of bullion. The course of the
Eastern exchanges excites chief anxiety at the
moment.

Inquiries having been made with regard to the
amount of cotton bills afloat, it is satisfactory to
learn that the total is believed to have been very
materially diminished of late.
About 51,0001. in bar gold was sent into the
Bank yesterday, and only about 9,000 sovereigns
were withdrawn for Alexandria. The former formed
a portion of the 211,0001. by the City of London,
from New York, and the residue of that amount is
also expected to be retained here in the absence of
demand for the Continent.

Mr. Henry Weston, of the old and respectable
banking firm of Weston and Young, of Southwark,
has been appointed manager of the Southwark
branch of the East London Bank.

The Lancashire and Yorkshire Railway traffic
return shows this week an increase of 3,5631 over
last year ; the Manchester, Sheffield and Lincoln-
shire an increase of 1,044/. ; the Midland an in-
crease of 3,8531. ; and the North Eastern an in-
crease of 5,952/.
The receipts of the Grand Trunk Railway of
Canada for the week ending the 21st November
were 20,44K11. sterling, being 1,2901. more than in
the corresponding week of last year.
A prospectus appears of the general Floating
Dock Company, with a capital of 200,0001., of
i which 120,0001. sat first to be issued, in shares of
101. The object of the undertaking is the con-
struction of floating docks, principally in France.
but likewise in this country, upon a principle
invented by M. Courau. A commission of French
naval engineers, appointed by the imperial govern-
ment, has reported very favourably of M. Courau's
invention, which appears calculated to supply a
want experienced in many French and English
ports, viz.,—more adequate dock accommodation.
Operations, in the first instance, will be commenced
at the port of Bordeaux.
With reference to the market for American secu-
rities Mr. E. F. Sattertbwaite reports as follows :

Blom our last of this day week the market for American
securities io London has become steadier, the recent news
from New York hating much checked the dispoeition of
sellers to offer stock, Phan has been a aoasiderable de-
mand for Atlantic and Great Western Boods, and the
market is cleared of all offering at late quotations.

The return of the Bank of England for the week
ending Wednesday, Dec. 9, compared with that for
the previous week, shows the following changes :
Circulation issue
Ciraul►tion active
Public deposits 8,629,856 Increase 1,394,962
Other deposits
Government securities in _ _ _

---bsainideport7nent 10,712,330 Income 2,000
Otharmeu fitted. m banking
department
Coin and bullion in both

13,008,617 Demean 39,838
Seven day and other We 608,167 Demme 54,940
The Rest

Notes ill reserve
Total reserve (notes k ooia
in Woking departmest). 7,463,377 Increase 789,727

This return is of a decidedly favourable character
and will contribute materially to strengthen confi-
dence. The government deposits having expe-
rienced an unusually large increase, and no de-
crease having taken place per contra in the private
deposits, there has been a very important increase
iu the reserve. The addition would have been still
larger but for the increase iu the private securities.
With regard to this latter head, however, it would
appear that the pressure upon the Bank for accom-
modation must have been lees severe than was
generally supposed. As soother re-assuring feature
it will be noticed that scarcely any decline
has taken place in the metallic stock. 324,000
sovereigns having been taken from the Bank during
the week for exportation, and only 33,0001. in bar
gold basing been sent in, it is to be inferred that
coin is flowing back freely from the internal circu-
lation, and this view is confirmed by the fact, that
there is a decrease of 155,8151. in the issue depart-
ment, but an increase of 115,9571. in the betaking
department.
There were more inquiries for Cape of Good Hope
and Victoria Government Debentures.