The Express.
London, England, 1863-04-24 00:00:00

MONEY MARKET.-(THIS DAL)

Two o'CLoow.

Notwithstanding the recent reduction in the value
of money, the stock markets are flat to-day, a cheek
having been given by the tone of the debate
in the House of Commons last night. The funds
have sustained • fresh fall of g per cent. Most of
the principal English railways are slightly lower.
The foreign stock market continues to be the firmest
department of the Stock Exchange.
At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Renter opened at
691 r. 30c., being * per cent. lower than yesterday.
The scrip of the Confederate Loan (in which
this is settling day) is quoted lg to 11 prem. for
the new account ; Italian, Ig to 11 prem. ; and
Turkish, Ito prem.

Consols are now quoted 921 to 1, both for
money and the account (May 7), and 92 15-16
to 93 1-16 for June. The official business re-
port is as follows:-Three per Cent. Consols,
for money, 921, 4, 93, 921 ; ditto fur account,
921, 3 ; Three per Ceuta. Reduced, 911, f ; New
Three per Cents, 911, 4, ; New Two-and-a-Half
per Ceuta., 76/ ; Five per Ceut. Annuities, 1081 ;
Bank Stock, 234, 236 ; ditto for account, 2341 ;
India Five per Cent. Stock, 1091, 3 ; ditto Bonds,
21a., 17s. prem. ; Five per Cent. " enfaced " rupee
paper, 1071, I ; ditto Five-and-a-Half per Cent,
1151 ; and Exchequer Bills, 51. prem.
Greek Bonds have risen 1 per cent. to-day, and
the Turkish Loan of 1858, 4. Egyptian Bonds have
also advanced. Mexican and Spanish Passive are very
steady. Some of the present quotations are
annexed :-Turkish 1854 Loan, 861 to 871; do. 1858,
68 to ; ditto, 1862, 691 to 701 ; the Consolidia,
471 to 1, being 1 lower than yesterday ; Vene-
zuelan Six per Ceuta., 58 to 59 ; and Greek, 29 to 1 ;
Transactions are recorded as follows:-Brazilian,
1839 and 1859, 1004, ex div. ; ditto 1852, 1858, and
1860, 931, 1, 94 ; Certificates, 1001,
ex div. ; Egyptian, 971, 4, 981 ; Greek,
for account, 281, 291 ; ditto Coupons, 131 ;
Italian, for account, 701; ditto Maremmana
Railway, 751 ; Mexican, for account, 331, 3 ;
Portuguese, 1862, 47/, 48 ; Spanish Passive,
30, 1 ; ditto Certificates, 101 ; Turkish, 1858, for
account, 681 ; ditto, 1862, for account, 701, 691 ;
ditto Guaranteed, 1021 ; Venezuela, for account,
23 ; ditto 1862, 581.

Mr. Philip Vanderbyl (of the firm of Redfern,
Alexander, and Co.) and Mr. Thomas William
Kough (of the firm of Jones Brothers) have been
elected directors of the National Bank.
Four' o'CLooc.
Consols remain dull, at 92} to i, both for money
and the account.

Referring back to the 19th of February last,
when the Bank rate was lowered from 5 to 4 per
cent., it will be found that, while the coin and
bullion have increased from 14,589,2221. to
15,387,1511. (as stated in last night's return), the
reserve of notes Las declined from 8,990,5351. to
8,391,5251. _ .

In consequence of the alteration at the Bank, the
joiut-stock banks have reduced the rate allowed
for deposits from 3to 24 per cent. The terms of
the London and Westminster Bsnk, however, are
only 14 per cent. for sums below 5001. The dis-
count establishments will henceforward give 24
per cent. (instead of 3) " at call," and 21 (instead
of 4) at notice.
. . . . .

Various new joint stock undertakings, for home,
the colonies, and abroad, are in course of pre-
paration, some of them upon a scale of considerable
magnitude. Their introduction will doubtless be
encouraged, and perhaps accelerated, by the fall in
the value of money. _ . _

his understood that the new Turkish Loan has
been very suoceesfuL The subscription list was closed
yesterday, both in London and Paris, and it is esti-
mated that between the two capitals the applica-
tions will reach nearly five times the amount of
stock offered. The subscriptions in France, how-
ever, having proved, as was anticipated, vastly in
excess of those in this country, our money
market will not be affected. One of the moat
striking features of this affair consists in the fact
that its success has beef accompanied by an entire
absence of speculative excitement. The loan has
never presented the attraction of a large premium,
but has been principally taken for investment in
France by subscribers fur small amounts, influenced
by the prestige commanded there by the Credit
Mobilier Society. The English subscriptions have
probably been chiefly attracted by the considera-
tion of the benefits to be expected from the able
administration of the Imperial Ottoman Bank.
The Accrington has reached the Downs from
Melbourne with 136,0001. in gold. The City of
Washington, from New York, has brought 49,000/.;
and the Hansa, 20,5001. The total by the three
vessels is 206,5001. _ _ _

The amount of government bills on India for
which tenders will be received at the Bank of
England, ou the Ist and 3rd Wednesdays iu each
month, commencing with the 6th pros., is rupees
70,00,000 (700,00014 in each mouth.
The London and South Western Railway traffic
return shows this week an increase of 2,2061. over
/set year ; the Great Western au increase of 3,6131. ;
the North Eastern an increase of 2,9661. ; the
Lancashire and Yorkshire a decrease of 1,9.571. ;
the Great Northern an increase of 2,2941. ; the
Midland an increase of 609/. ; and the Man-
chester, Sheffield, and Lincolushire an increase of
4694

The English and Irish Bank (Limited) have pur-
chased the old established braking and discount
business of Messrs. Robert Gray and Co., of
College-green, for their Dublin Branch, where
business will be commenced on the Ist of July
next. Mr. Gray, sen., will be a member of the
Dublin bowl.

The annual meeting of proprietors of the Provin-
cial Bank of Ireland is called for the 21st of May.

The special meeting of the India Freehold Land,
Colonisation, Trust, and Agency Association (Li-
mited), to confirm the resolution for a voluntary
winding up will be held on the 14th of May.

A spec meeting of the East India Steam Navi-
gation Company (Limited) is called for the let of
May, to confirm the resolutions passed ou the 18th
of April.
•

Vice-Chancellor Sir W. P. Wood proposes on the
Gth of May to utake a call of 204. per share on the
contributories of the Mercantile Guarantee and
Assurance Company.
Au advertieement has been issued, showing the
progress of the sinking fund on the Brazilian loans.
The Napoleon 111. has arrived from China
with 802,700 lbs. of tea, and 70 bales of silk.
The return of the Bank of England for the week
ending Wednesday, April 22, compared with that
for the previous week, shows the following changes :
Circulation issue 5=191,830 Increase £142,606
Circulation active
Public deposits 6,316.413 Increase 547.137
Other deposits
Government securities in
banking department
Othereacurities in banking
department
Coin and bullion in both
departments 15,387.151 human 157,914
Seven day and other bills 612,921 Decrease 7.119
The Rest

Notes in reserve 094625 Leman 49,090
Total reserve (notes &coin
in basking department). 9,236,844 Noma 84,389

The increase in the reeerve and bullion is of
little importance, yet the Bank directors have now
lowered the rate of discount. The addition to the
government securities is 821,9501.., the Bank having
purchased stock in anticipation of the liquidation
of the 1,000,0001. of Exchequer Bonds maturing
next month, and now held by it.