The Express.
London, England, 1864-10-06 00:00:00

MONEY MARKBT.-(T818 DAL)

Two dew=

The stook markets to-day are heavy, owing to
realisations, combined with renewed rumours of
mercantile ember:momenta. The funds have de-
clined II
I per cent., and foreign stocks and banking
and financial shame are fiat. Home railway stocks, I
however, in some cues are stronger.
The discount market is quiet, and the rate for
good bills unchanged, at 81 to 9 per cent. The
supply of money in the Stock Exchange is smaller,
and the charge for short loans has consequently
Amen to 6 per cent. No alteration has been made
to-day in the Bank rate of discount.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Bentes opened at
65fr. 86c., showing no change.
.._

Consols are now quoted ssi to both for
money and the account (Oct. 11). The official busi-
ness report is as follows :--Three per Cent. Con-
sols, for money, 881, 1 ; ditto for account, 881 ;
Three per Centa. Reduced, 861, 1 ; New Three
per Cents., 861, 4,1, ; Bank Stock, for account,
2384, 239, ex div. ; India Five per Cent. Stock, 1044.
Foreign stocks are rather heavy. Confederate
Bonds have fallen 1 per oent., Turkish Consolidds
to 4, and Mexican it. Some of the present quo-
tations are annexed, viz :—Greek, 231 to 1 ;
Mexican, 271 to 4 ; Confederate, 61 to 63 ; Spa-
nish Passive, 311 to 1 ; Turkish 1858 Bonds,
681 to 69 ; ditto 1862, 70 to 4 ; and the
Consolidds, 50 to 1. Transactions are re-
corded as follows : Dutch Two-and-a Half
per Cents., 61; ditto Certificates, 961, 1,
ex div. ; Egyptian, 97, 96, 97 ; ditto for
account, 654 ; Mexican, for account, 271, ;
second issue, 97 ; ditto 1001. Bonds, 961, 1 ; Italian
Russian, 1822, 87 ; ditto 1839, 53 ; ditto 1862,
871, 861, 87 ; Spanish New Deferred, 43 ; ditto
Passive, for account, 311; Turkish, 1854, for
account, 911, 1 ; ditto 1858, for account, 681, 69;
ditto 1001. bonds, 70 ; ditto 1862, for account,
701, 4,4, ; ditto, 1001. Bonds, 701, ; Vene-
zuela, for account, 211 ; ditto 1864, 431.
International Financial shares are now quoted
11 to 1 prem. ; London Financial, 61 to 7
prom. ; General Credit, 21 to S prem. ;
Imperial and Mercantile Credit, 11 to 21 prem. ;
Hudson's Bay, 15k to ; Ottoman Sociit4 Gin&
rale, 14 to .4 prem. ; and Anglo-Egyptian Bank,
dia. to 1 prem.

Tai Mumma PAn Two o'CLoca.

Consols are again it per cent. lower, at 881 to
both for money and the present account (Oct. 11).
Prominent reference was made yesterday in the
Stock ExoLange to the cue of a contractor who was
said to have stopped with heavy liabilities, but the
fact is believed to be that this affair is now many
weeks old, and that an arrangement which was en-
tered into some time ago, with the express assent of
the principal creditors, for the working out of the
valuable contracts in hand, is being satisfactorily
carried out without any new feature having occurred
of a nature to challenge the attention of any
persons bat those who are interested in promoting a
fall in public securities.
The biddings for 30.00.000 rupees (300,0001.) in
bills on India took place yesterday at the Bank of
England. The proportions allotted were—to Cal-
cutta, 17.65.000 rupee' ; to Bombay, 12.00.000
rupees ; and to Madras, 35.000 rupees. The
minimum price was as before, Is. Hid. per rupee
on Calcutta and Madras, and Is. Ilid. ou Bombay.
The applications within the limits amounted to
77 law. Tenders on Calcutta and Madras at
la. Hid. will receive about 69 per cent. ; on Bom-
bay, at Is. 1141., about 37 per cent., and all above
these prices in fulL On the last occasion the appli-
cations within the limits amounted to 980,0001.,
and before that to 1,300,0001. The amount now is
only 770,0001. So that the demand for remittance
to India seems to be steadily declining.
The stoppage is announced of Mr. Aaron &lo-
wans, of Old Change. The cause of the stop-
page is a peculiar one. Mr. Salomon', who
has occupied a very respectable position, has
just received a letter in which his confidential
clerk and cashier, wbo has been in the house from
his boyhood and for a period of live acid twenty
years, intimates his departure for America ; and
it is simultaneously found that, apart from other
defalcations, forged bills have been put into
circulation to the amount, as it is believed, of
40,0001. Upon some of them, we understand, ad-
vances have been made by the Loudon and West-
minster Bank. Lest the interests of some of his
creditors should be prejudiced, Mr. Salomons has
at once adopted the very proper step of stopping
payment pending the requisite investigation, which
will he carried out by Messrs. Ladbury,
and Viney, the accountants. The amount of Mr.
Salumous' liabilities isnot yet known. His busi-
ness is that of a warehouseman, but Lis transactions
have embraced imports and exports of goods to
Australia and elsewhere. The circular issued this
evening is as follows ;

16, Slog•strest, Cheapaide, Londoe,Oet. 5.

Oestlemes,—Mr. A. Bslosoons, of Old Change, ware-
houses's°, 'savior than day droo►ered that Ws oustidostial
Work and cashier bee forged bills to a ocimadarablo amount,
sad also abstracted moseys from the bum% is advised by
his principal coeditors at moor to hays hie affairs ammo.
gated ; and we beg Si Worm your that the books have bees
placed is our hoods for that purpose. A general roosting of
the creditors will be surreued at the oullest possible
moinest, and le the mean time your Meltdown:a is craved.—
We are. gestkimeo, your obedient servants, LADDUZY,
COLLDION sod VI NET.

The present Spanish ministry seem to be in
earnest as regards a settlement of the Passive and
Certificate debts, if we are to judge from their de-
sire to ascertain the terms that would be accepted
by the holders. It is said that the following pro-
position has been put forward by a party of the
creditors :—To negotiate a Spanish Three per
f;ent. luau for 8,000,0001., at 45 per cent. ; to ac-
cept for the Passive • 2 per cent. stock, rising I
per cent. every three years, up to 3 per cent. ; to
accept for the Certificates a 1 per cent, stock, rising
per cent every three year', up to 3 per cent.
With reference to the suppression of the Greek
Senate, we believe that, independently of the con-
stitutiowil motives that have dictated it, the mea-
sure is computed to involve a large annual saving.
The Senate has consisted, it is believed, of 480
members, each of whom has been paid 500 drachmas
per month, or 6,000 per annum. This was equiva-
lent to a charge of 2,880,000 drachmas per annum,
or 96,000/. sterling, at the current rate of Bd. per
drachma. Such a retrenchment is the more satis-
factory when we remember that the chief extrava-
gance of the late government rested in its civil
expenditure. The latest IMIViCeII front Athens re-
present the government, nevertheless, as iu great
present want of money, and speak of the urgent
necessity of carrying into effect some arrangement
for the restoration of credit, and the consequent
supply of its immediate requirements.
The London and North Western Railway traffic
return shows this week an increase of 9,0221. over
last year ; the Great Western an increase of
8,290/. ; the Great Eastern an increase of 1,7881. ;
and the Great Northern au increase of 3,8231.
The directors of the London and South African
Bank have resolved upon the payment of an
interim dividend of 3i per cent., or 14e. per share,
free of income-tax, for the six months ending the
30th of June last.

Four per Cent. Debentures, August, 1886, Tri ;
ditto, Bonds, &. to 3s. dia.
The India Five per Cont. Stock was rather
firmer. India Bonds have risen to 81. to as. dim
There was also a better demand for the June 1:-
chequer Bills, which rose about 45., dosing at
18a. to 10a. dia. The March Bills were firm at 7s.
to 3s. dia.

Foreign stocks were firm in the morning, bat
afterwards gave way, and iu many cases the closing
quotations were somewhat below those of yester-
day. Confederate Bonds declined Ito 2 per neut.;
Sardinian, 1; Greek Coupons, ; Russian Bonds of
1862 and Spanish Passive, ; and Spanish Certifi-
cates, Mexican Bonds, and Turkish Consolidta,
per cent
Intbe market for bank shares the tendency of
prices was again decidedly upwards, and in the
afternoon little reaction occurred, except in Alliance
Bank shares, which after advancing to 20 to 22,
closed at 18 to 19 prem., being 11. to 1/. 10a. lower
than yesterday. The speculative transactions in
the shares of this bank continue to be upon an ex-
tensive scale, and cause incessant fluctuations. The
shares of the Chartered Bank of India, Australia
and China, London and County Bank, and Union
Bank of London advanced 21., and an
improvement took place in Bank of
Australasia, East London, London Bank of Scot-
land, London and Brazilian, London, Buenos Ayres
and River Plate, London Chartered Bank of Aus-
tralia, London Joint Stock, London and West-
minster, Metropolitan and Provincial, National
Bank of Liverpool, and Scinde, Punjaub, and Delhi
Bank. London and County Bank shares had risen
at the close to 71 to 73, and London Joint Stock
Bank to 46 to 48. Auglo-Italian Bank. Bank of
British Columbia, and Laud Mortgage Bank of
India shares were rather weaker.

Hudson's Bay shares closed rather heavil, at
15* to 1. Egyptian Trading were steady, at Ito 1
prem. Financial Corporation, National Financial,
Land Securities, Fore-street Warehouse, Thames
and Mersey Marine Insurance, Universal Marine,
and London Mercantile Discount shares were all
better. National Discount, after showing firmness,
closed ss. lower than yesterday. Joint Stock
Discount touched 1 prem., but closed at * to 1
pram.
The shares of the financial companies were weaker
this afternoon, and closed flatly. London Finan-
cial fell 15s. ; Imperial Mercantile, 7e. Gd. • and
International Financial, 2a. fid. to be. General
Credit shares were comparatively steady, and Cre-
dit Mollifier and Credit Foocier firm. The closing
quotations are annexed, viz. :—lnternational, 1
to 11 prem. ; General Credit, 21 to 1 prem. ;
London Financial, 6i to 7 prem.
_; Imperial Mer-
cantile Credit (amalgamated), 11 to 21 prem. ;
Credit Mobilier, 2/ to 3 prem. ex div. and sew
shares ; and Credit Foncier, 21 to 3 prem. ex div.
I and new shares. _ _ .

Anglo-Eityptuui Bank shares were last quoted
par to I prem. ; Imperial Mexican Railway,
to prem. ; and Ottoman Socidtd GMierale, 11 to
1* prem.
United States 5-20 Bonds were quoted 43 to 44.