The Express.
London, England, 1864-10-20 00:00:00

MONEY MARKET.-(TELS DAY.)

Two o'Cwoz.

The stock markets opened this morning with re-
newed heaviness, but have since experienced
a recovery, owing to a rumour that the
Bank of England return to-night will be
favourable, and to the appearance In the
Paris Conatitutionnel of au authoritative contra-
diction of the report that a heavy decline has taken
place in the stook of bullion in the Bank of France.
The fall of 3 per cent, which took place yesterday
in the English funds hes been recovered. Home
railway stocks, in several cases, have improved.
Foreign bonds present little recovery. Financial
shares are slightly better. As regards bank shares
there is an advance in Alliance, London and Bra-
zilian, and Mercantile and Exchange, while Char-
tered Bank of India, Australia, and China are
heavy.
Although the discount market is rather quiet
to-day, there is no disposition to transact business
below 9 per cent., the Bank minimum. The rate
for short loans in the Stock Exchange is still only
3 to 4 per mint.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Rentes opened at
64fr. 65c., being 4 per cent. better than yesterday.
Consols are now quoted 884 to e for money,
and 884 to 4 for the account (Novem-
ber 10). The official business report is
as follows :—Three per Cent. Consols, for
money, 884, 4 ; ditto for account, 884 ;
Three per Ceuta. Reduced, 864, 4; New
Three per Cents., 864, 4 ; Annuities, 1885,
14 j ; Bank Stock, 237 ; India Five per Cent.
Stock, 104} ; ditto Bonds, 9s. die. ; Five per
Cent. " enfaced" rupee paper, 1004 ; Exchequer
Bills, March, 6s. din ; ditto June, 18s. dia.
Foreign stocks, after showing dulness, are now,
in most cases, firm, at the closing prices of
yesterday. Spanish Passive Bonds have
improved 4 per cent. Business is limited.
Some of the present quotations are annexed, viz. :
Greek, 214 to 4 ; Mexican, 254 to 4 ; Confederate,
64 to 66 ; Spanish Passive, 294 to 4 ; the Certi-
ficates, 134 to 3 ; Turkish, 1862 Bonds, 694 to 70 ;
and the Consolidds, 494 to 4.
Transactions are recorded as follows :—Egyptian,
95, 4, ; Greek, for account, 214 ; Italian, for
account, 644, 4 ; Mexican, for account. 254, 4 ;
Russian, 1862, 863, 87 ; Spanish Passive, for so-
count, 294,4 ; ditto Certificates, 13, 124 ; Turkish
1864, for account, 884, ex div. ; ditto 1858, for
account, 684 ; ditto 1862, for account, 694, 70,
694 ; ditto 1001. Bonds, 704 ; Venezuela, for ac-
count, 21 ; ditto 1862, for account, 643, 564.
International Financial shares are now quoted
4to 4 prem. ; London Financial, 64 to 6
prem. ; General Credit, 14 to 2 prem. ;
Imperial and Mercantile Credit, 1 to 3 prem. ;
Hudson's Bay, 144 to 154 ; Ottoman Sociiiti
rale, 4 to 3 prem. ; and Anglo-Egyptian Bank, 2
to 14 die.

FOUR O'CLOCK.

Consols is still quoted 88} to i for money, and
881 to i for the account. 9,0001. in gold has been
t Ikon to the Bank.

In the Stock Exchange the rate for loans from
day to d►y on English government securities has
fallen to 3 to 4 per cent., and even this low quota-
tion is little more than nominal, owing to the
magnitude of the supply and the languor of the
demand. This excessive abundance of money in
the Stock Exchange, however, at • time when rates
so much higher may be obtained on commercial
bills, cannot be regarded as • re-seanring feature,
except in so fares it shows that bankers and mer-
chants are determined to keep their reserves as
strong as possible. When money is to be obtained
on government securities at 3 per cent., but
will not flow into the best commercial bills at 9
per cent., it is evident that great distrust prevails,
and that there is a sort of unnatural congestion in
the money market.

About 20,0001. in gold was sent into the Bank yes-
terday, making a total of 227,0001. since the date
of the last return. No withdrawals for abroad
have been announced during the same period. The
City of Baltimore, from New York, has brought
250001.
The bidding. for 30.00.000 rupees (300,0001.) in
bills on India took place yesterday at the Beak of
England. The proportions allotted were :—To Cal-
cutta, 16.28.000 rupees ; to Bombay, 3.00.000
rupees ; and to Madras, 50.000 rupees. The mini-
mum price wan fixed at Is. llid. per rupee:on Cal-
cutta and Madras, and Is. Ilid. on Bombay. All
the tenders were accepted.
It will be noticed that, in consequence of the
falling off in the demand for remittance to India,
the tenders' bare not reached, by the sum of about
100,0001., the amount of bills offered by govern-
ment. In consequence the silver markeesterday
was extremely fiat, and the bars by the West India
packet were sold for the continent at ss. Ofd. per
ounce, being id. below the price obtained for the
previous supply, and jd. below that current on
Tuesday. Mexican dollars also declined id.—vie.,
to 4a. 110.
The Manchester Examiner says :—" One of seven
failures reported on Wednesday on tbe Man-
chester Exchange is that of Messrs. Barrett and
Wilson, calico printers. The liabilities in this
instance are believed to be of large amount, but at
the same time it is expected that the liquidation
will prove favourable. The other suspensions are
of manufacturing concerns."
At a meeting of the creditors of Messrs. Bullock
and Fernyhough, colonial brokers, who failed three
weeks ago, in connexion with the stoppage of the
Leeds Banking Company, the liabilities have been
stated ex 32,7681., and the assets at 3,6841. net,
showing a deficiency of no lees that 29,0841.
The directors of the Royal Mail Steam Packet
Company have resolved to recommend to the
proprietors, at the meeting to be held on the
26th instant, the payment for the half-year ended
30th June last, of a dividend of 31. a share out of
the ordinary profits of the company, and a bonus of
21. a share out of the insurance fund, both free of
income tax.

Ixtraordinary meetings of the London and
Colonial Bank (Limited) and the International
Bank (Limited) are convened for the 2nd Novem-
ber " for the purpose of considering oertaic ques-
tions which have arisen in carrying out the details
of the agreement for amalgamation with the London
and Colonial Bask (Limited), and passing such
reeol talons as may appear to be ex pedie at. ' This noti-
fication has occasioned some surprise. It is rumoured
that a hitch has occurred in the arrangements for
the amalgamation.
An extraordinary meeting of the shareholders of
the Standard Bank of British South Africa is con-
vened for the 10th November, when a dividend
will be recommended.

An extraordinary meeting of the Cannes Hotel
Company (Limited) will be held on tho 29th inst.,
to confirm the resolution passed on the 14th inst.
for a voluntary winding up.
The warrants for payment of the seven per cent
guaranteed interest on the paid-up capital of the
Central Argentine Railway Company were lamed
this day.
The following, on the wine and spirit trade, is
from the circular of Mr. F. W. Catena, dated yes-
terday :

The revere distrust ceased by the bi jb sad ski t
terms for mosey has dammed almost every bnraab of
commerce meet seriously—bet, althea/It ear beaded stools
or wives sod spirits were probably sever heavier, so pres-
sure of importsoes is se ym observable. Of Willie spinally
mottling le forced to Bahr exempting eery Inferior qualities,
which ace being imam/dog stook, emulative sod week
holden are anxious to realise ; w sales, besmear, sea be
sleeted bat at very viasetideolemy prier; sad Yea 'sly