The Express.
London, England, 1862-03-27 00:00:00

MONEY MARKET.-(THIS DAL)

Two o'Cioca.
The funds are somewhat firmer to-day. A

recovery of I per cent. has taken place in Console.
English railway stocks retain a drooping ten-
dency. The general appearance of the Stock

Exchange is dull.
The weekly Court at the Bank of England has
broken up without altering the rate of discount.
The scrip of the Turkish Loan is quoted 2 to 21
preen.
Consols are officially marked 932, 4, and I for
money, and 931 for the account. The present
quotations are 931 to 1 for money, and 931 to f for
the 10th of April. The official business report is
as follows :-Three per Cents. Reduced, 921, 1 ;
New Three per Cents., 921, 1, 92 ; New Two-
and-a-Half per Cents., 77 ; Thirty Years
Annuities, 1886, 154 ; India Stock, 2k61;
ditto Five per Cent. Stock, 1081,
; ditto Four per Cent. Debentures,
1863, 100, ; ditto Bonds, 28s. premium ;
Five per Cent, "enlaced" rupee paper, 1031 ;
ditto Five-and-a-Half per Cent, 1081, 1, 1 ;
Exchequer Bills, June, 18s, 19s. prem.
There is no movement of importance in foreign
stooks. Mexican Bonds are a little more in-
quired for. Italian Five per Cents., after
opening flatly, are now firmer. Spauish Cer-
tificates remain heavy. Turkish Bonds are
unaltered, the loan of 1.864 being now quoted
84 to 1, and that of 1858, 71 to 1, ex div.
Sales are recorded as follows :-Brazilian Four-
and-a-Half per Cents., 1860, 921; Chilian Four-
and-s-Half per Cents., 87 ; French Four
and-a-Half per Cent. Renter, 96fr. 50c., ex div.
(exchange 25fr.) ; Greek, 91; Italian Five per
Ceuta, 68, (exchange 25fr.) ; Mexican Three per
Cents., for account, 341; Moorish Scrip, 6 prem. ;
New Granada Two per Cents., 27 ; Peruvian Three
per Ceuta. , for aooonnt, 881, ; Portuguese Three per
Cents, 1856, 1857,1859, and 1860, for account, 48;
Spanish Three per Cents., for account, 531 ; ditto
New Deferred Three per Cents., for account, 4s;
ditto Passive, 181 ; the Committee's Certificates,
61, 1 ; Turkish Six per Cents., 1854, for account,
84 ; ditto Six per Cents., 1858, 71, 1, ex div. ; ditto
Guaranteed Four per Cents., for amount, 1022.
Yesterday evening the aggregate applied for the
new Turkish Loan was raised to 24,000,0001., or
exactly three times the whole amount to be allotted.
As it, is of course impossible to comply with all these
applications, and as subscribers must now make
up their minds to inevitable disappointment, the
rush will probably slacken. Formal notice is given
that the list will be definitively closed to-mor-
row at 2 o'clock. We hear of one firm which has
already: sent in lists of applications for an aggregate
of no less than 3,500,0001. The 5 per cent. deposit
on the 24,000,0001. already written for represents
a total of 1,200,0001. Subscribers may be interested
to know that, if they pay up the instalments in full
onthe 30th April,the net cost of their Bonds is only
611.45. per 1001. What they get for 611. 4s. is not
redeemable by the Turkish Government below 1001.
With the approach of the end of the quarter the
demand for money presents some indications of
increasing, but is still considerably below what is
usual at this season. Some additional movement
is of course occasioned by the temporary looking up
of the surplus deposits on the Turkish Loan.
After the allotment of this loan, con-
siderable payments in full will probably
be made, in consideration of the allowance of 6 per
cent. discount, but the anticipation that the whole
of the loan will be paid up immediately seems
hardly likely to be realised, as many of the more
speculative holders will prefer to have it in the
lightest form possible. The effect of these pay-
ments on the money market will be to a considera-
ble extent counteracted by the circumstance that
the majority of them wilt be effected at a time
when the April dividend money (which upon the
present occasion has not been "discounted ") will
lie upon the market, and when the depression of
trade remains unrelieved.
The fortnightly settlement in shares and foreign
stocks will commence to-morrow, " continuation
day," and terminate on Monday.
An instalment of 10 per cent, fell due yesterday
on Messrs. Hambro's Italian Railway Loan of
1,338,0001.
A meeting of the holders of Greek Bonds of 1834
and 1825 is invited for the 2nd of April, to con-
sider the " means to be taken to obtain a liquida-
tion of the debt contracted by these loans."
The memorial to the Cortes of Spain, ou behalf,
not merely of the holders of certificates, but of all
persons desirous of extending their relations with
the industrial undertakings of Spain, and who are
consequently desirous of seeing the present state of
non-intercourse between Spain and the London
money market removed, is lying for signature at
the office of the committee.
The amount of gold sent into the Bauk yester-
day was 22,0001.
It being rumoured that the Council of India pro-
pose drawing a large amount of bills on India in
addition to those already advertised, extreme flat-
ness prevails in the silver market, and the supply
by the last West India packet remains unsold. The
present position of the foreign exchanges admits of
the importation of silver from the Continent, and
this increases the depression in the market for that
metal.
At the annual meeting yesterday of the Canada
Company the directors' report was agreed to. It
announced a steady increase in the value of the
company's land, larger sales of which have been
made during the year 1861 than in the previous
year, and at higher prices on the average.
A special meeting of the London, Chatham, and
Dover Railway Company will be held on the 2nd
of April, to consider the bill now pending in par-
liament to authorise the raising of a further share
capital of 129,0001., and to approve an arrange.
ment for the lease or working of the Kent Coast
Railway between Faversham and Margate and
Ramsgate.
A special meeting of the London and South-
Western Railway Company is called for the 10th
of April, to consider the seven bills affectinsthe com-
pany's interests, and now pending in parliament.
The London and North-Western Railway traffic
return shows this week a decrease of 4,442/.
The dividend is advertised on Pennsylvania Cen-
tral Railroad Six per Cent. Sterling Bonds.
Subjoined are the quotations of insurance,
pa, dock, and other shares, as given in the
last Stock Exchange list :
feserance.-Alliance Marine, 56/ ; Atlas,l2 ; Commercial
Union, 21; Eagle, 71; Globe, 99 ; Law Fire4l; Liver-
pool end London Fire and Life, 9 ; Marine, 102 .11 ; Ocean
121, 1, ; Thames and Mersey Marine, 31,
ex dry. ; United Kingdom, 6 ; Universal Marine. 11, 1.
Ges Light and Coe.-Bahia (Lt
161; City of
Louden (6), 71, 1 ; European, 13f, 14 ; ImperiaL 82 ; ditto
New, 651; Imperial Continental, 501, ; London, 721;
Surry Consumers, 151; United General, 261, 51 ex div.
Canals.-Grand Junction, 601, 1; ditto Guaranteed Six
per Cent., 121 ; Regent's (or London), 24
Waterworks.-Fart London, 128, 71.
locks.-London, 58,1.
With reference to the market for American se-
curities Mr. E. F. Sattertlivraite reports as follows :
We have had daring the past week a very active market
in London for American securities, and considerable trans-
actions
have taken place without any marked variations
in quotations. United States Five per Cent, and Virginia
Six per Cent. are, however, from 4 to 1 per cent. better.
Erie shares bars been largely dealt in from 33 to 331. Erie
Preferred are in demand at se advance of 1 to 2 percent.
The weakest stock on the list has been Illinois. These
shares show a tendency to droop, notwilstanding the re-
port for 1861 shows the concerti has been self-supporting
is that year. The first three months' working of the year
appears certain to compare unfavourably with the corre-
sponding period of last year, but probably the opening of a
portion of the hitherto sealed Southern States may gives
different result for remainder of thia year. The demand for
Atlantic and Great Western bonds continues; they dose
Arm at 64 with few offering.