The Express.
London, England, 1864-05-03 00:00:00

MONEY MARKET.-(THIS DAY.)

Two o'OLocE.

The stock markets opened this morning with
considerable depression, owing to the advance
in the Bank rate of discount. There has
since been a partial recovery, the fall
having induced purchases by the public,
but present prices are still below those quoted
on Saturday afternoon. The reduction in Consuls
is per cent. ;in the principal speculative foreign
stocks to and in most of the home railways I
to *. The downward movement has extended to
Bank shares and other securities, but there is no
sign whatever of panic.

At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes were quoted
66fr. 70c., being } per cent. lower than yesterday.
Consols are now quoted 90/ to 91 both for money
and the account (May 5). The official busi-
ness report is as follows :—Three per Cent.
Consols, for money, 91, 901 ; ditto for account,
91, 904 ; Three per Centa. Reduced, 881, 1, } ;
New Three per Cents., 884, /, 4 ; Red Sea Tele-
' graph, 204 ; Bank Stock, 2394; India Stock, 220;
ditto Five per Cent. Stock, 1041, 105/ ;
ditto Four per Cent., 994, 4 ; Four per Cent.
" enfaced n rupee paper, 93 ; ditto Five per
Cent., 103 ; Exchequer Bills, March, 6s. die. ;
ditto Jane, 45., 9s. dia.
Turkish Consolidis are 1 per cent. lower than
on Saturday, at 51} to 1 ; Greek, a mere fraction
lower, at 234 to 1 ; Mexican, worse, at 434
to 44 ; and Spanish Passive, 1 lower
at 344 to 4. Other foreign stocks are dull.
Transactions are recorded as follows :—Braxilian,
1863, 864, 1, 851; Dutch Certificates, 99} ; Egyp-
tian, 101, 1001 ; ditto, second issue, 1001 ;
Greek, for account, 23, 4 ; Italian, for account, 671,
; Mexican, for account, 431, 43, 4,4, 1 ; New
Granada Deferred, 8 ; Portuguese, 1836, &c., 481 ;
ditto for account, 48/, 47/ ; Russian, 1822, 864, 874,
87 ; ditto 1862, 854, ex div. ; Spanish for account,
524 ; ditto Deferred, for account, 45/ ; ditto
Passive, 344, 34, 1 ; ditto Certificates, 114 ;
Turkish, 1858, for account, 694 ; ditto 100/.
Bonds, 694 ; ditto 1862, for account, 71} ; ditto
1101. Bonds, 714.
Ruseiso scrip is quoted 1 to 1} prem. ; and
Mexican, 1 to 04 dia.

International Financial 'bares are now
quoted 64 to prem. ; General Credit, iii
to f prem. ; London Financial, 114 to 12 prem. ;
Hudson's Bay, 191 to f ; Mercantile Credit, 121
to 13 prem. ; Baptista Trading, 21 to 3
prem. ; Credit Mobilier, 54 to f prem. ; Imperial
Financial, of to 61 prem. ; Credit Fonder
(Great Britain and Ireland), 51 to 61 prem. ;
City Offices Company, 11 to U prem. ; International
Land Credit Company, if to 21 prem. ; Tele-
graph Construction and Maintenance, 1 to 11
prem. ; Ironworks, 2t3 prem. ; Imperial
Bank of Chins, f to 11 prem. ; Humber Iron
Works, f to 1 prem. ; International Contract,
to 14 prem. ; and Financial Corporation, 2to
prem.

It will be noticed by thelabove that the rise of
11., which took place late on Saturday afternoon in
Imperial Financial shares, upon the amalgamation
with the Mercantile Credit Association, is main-
tained. Mercantile Credit shares are higher,atl2}
to 13 prem.
The annexed notice has been issued this morning
from the Bank of Engiand :

Beak of

god May, 1884.

Notice is hereby gives, that in order to prepare tee slur
Ideeds due on the sth July, 1864, the balances of the Novena
acconste in the following loads will be struck on the night
of Wednesday, the Let Jane, 1864, vis. :—Three per Cook
Consolidated Annuities, New Five per Ceet. Annul.
tiea, New Three-sad•a-Halt per Cent. Annuities, 1854,
New Two.sed-a•lia/f per lent. Annuities, Annuities for
Terms of Yeats, and) India Five per Cent. Stock. On
Thunday, June 2, the above-aimed funds will be tranafer•
able without the dividend due on she 6th July part.
Eater lima Sr:cc—Mat, Friday, Jane 10. Open,
Wedassday, July 6.

The jointatock banks have not altered their
allowance for money on deposit. tho rate being still
5 per cent., except that the London and West-
minster give only 4 per cent, for sums below 5001.
The discount establishments allow 5 per cent. for
money " at call" (being the same as before), 6 per
cent, at seven days' notice (a rise of per cent.),
and 7 per cent. on deposits subject to fourteen
days' notice (a rise of 1 per cent.).
No operations in gold took place at the Bank yes-
terday. Of the 124,5001. by the Penis, from New
York, about half has been bought for the continent.
The steamer Seine has taken 66,700/. in gold, and
11,8001. in silver, for the West Indies.

The Magdalena, from Brazil for Southampton,
has arrived at lashes with 12,2001. in specie.

It is formally intimated that the directors of the
Mercantile Credit Association (Limited) and the
Imperial Finane.ial Company (Limited) have agreed
upon terms of amalgamation, and a meeting of
their respective shareholders will be called at the
earliest practicable period, when the terms will be
submitted for confirmation.

The second ordinary meeting of the Bank of
Hiud ustan, China, and Japan took place yesterday ;
the dividend declared was 15e. per share, being at
the rate of 5 per cent per annum.

The South Eastern Railway traffic return show;
this week an increase of 1,6421. over last year ; and
the Brighton an increase of 2061.
The prospectus of the Tavistock Iron Works and
Steel Ordnance Company (Limited) is in circula-
tion. The object of this undertaking is to carry
out on a large scale the manufacture of steel under
Beesemer's or other patents, to construct steel
ordnance, and to manufacture steel shot and shell,
as well as all kinds of machinery, and implements
for mining, manufacturing, and agricultural pur-
poses. The basis of the project is the purchase, on
terms described as " favourable for the company,"
of the promises, machinery, plant, goodwill,
tte, of the business of Messrs. Gill and Co.,
of Tavistock, a firm sixty years old. It is men-
tioned that the business purchased includes several
valuable patent rights and contracts. The direc-
tion is respectable : the first name on it is that of
Captain T. A. Blakeley (late R. A.), of the Blakeley
Ordnance Works, Southwark, and of Messrs.
Baird and Co., of St. Petersburg. The capital is
200,0001., of which one-half in to be first issued, in
5,000 shares of 201. each, and of these nearly one-
half have already been subscribed for.
It has already been mentioned in this column
that arrangements have been made by which the
deposits have been returned to dissentient subscri-
bers for shares in the Australian and Eastern Na-
vigation Company (Limited). This undertaking,
in consequence of the recent decision of the Stock
Exchange Committee, has been reconstituted as the
" Liverpool, Melbourne, and Oriental Navigation
Company (Limited)," the prospectus of which is
now iu circulation. The direction is nearly identical
with that originally proposed. The capital is
2,000,0001., in 40,000 shares of 501. each, with a
first issue of 30,000 shares, but the intimation (with-
held in the original prospectus) is now candidly
given that " a number not exceeding 5,000 will be
reserved for issue in the colonies on terms to be
fixed by the directors." It is mentioned that appli-
cations for upwards of 15,000 shares have already
been reoeived. The prospectus contains a peculiar
clause, whereby the directors take " power to issue
the remaining 10,000 shares, creamy portion thereof,
as paid-up shares or otherwise, in or towards pur-
chase of ships or steamers for the company's use."

Subjoined is a statement (from Me. Slaughter's
Weekly List) of the railway calls falling due in the
month of ILiy. Exclusive of the call on Paris,

Lyons, and Mediterranean shares, which are chi*
held abroad, the total is assclecate
Amount pre Mem
Doe Already Number
Due In May, 11114. Date. Yeld.Call.. el Mom Amami
Great Eastern I. per
went. Pref.
Great Northern New
Steak IwdatSepal 2 dept. 10 p. eat. via.g•
Harememmith and City
per cent Pret . 2 dept. 2 0 0 MN MINIS
Leaks, Brighton, de ,
2 SI
somhPar!tteernean, Liyorkihfre,"Lcentltatirsha:',
t 15163.::. 15 12

pima-- teed 610aberas 2 6
Tia Vide ,elO shares. 2 9

Total in May

1 6 0 YAM
0 0 • MOOD
O 0 0 16,01)0
1 0 0 23,714

Amount called to 5 mouths of lest.

MN.
KIM
111.7,4

11,631,734

e4,ins.al

The National Provincial Marine insurance Com-
pany give notice that they will commence business
at their new premises, Cowper's-court, Cornhill, ea
the 16th inst.

A general meeting of the Eastern Bengal Railway
Company will be held on the 26th inst., and a mast-
ing of the Cape Town Railway and Doak Company
on the 13th.

A general meeting of the shareholders of the
Bank of Wales (Limited) is called for the 17th of
May.
A special meeting of the North British Austra-
lasian Company (Limited) will be held on the 17th
inst., to confirm the resolutions passed at the
annual meeting on the 22nd of March, for the
conversion of the company's shares into stock.
Resolutions will also be proposed "for the Mcrae=
of the capital of the company from 187,4361. be
220,0001. by the issue of 32,6661. Six par Cm&
Guaranteed Stock, to be offered at par and pre
rat& among the proprietors."
The fourth call of 2/., making 10/. paid, is to be
paid on the shares of the Turin and Barons Rail-
way Company by the 26th inst.