The Express.
London, England, 1855-01-17 00:00:00

limited. _
It is understood that the fixed amount of

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800,000,000 f. (about 20,000,0001. sterling) of the
French loan will be entirely covered by the subsirip-
tions not exceeding 500 f. (say 201.) of annual rents.
It is even stated that these small subscriptions, in
respect of which the French government hu ac-
corded a preferential claim to the allotment, must be
subjected to a certain proportionate reduction.
The grand total of the subscriptions was reported
from Paris to-day by telegraph as approaching two
milliards, or about eighty millions sterling. Under
these circumstances it is inferred that the appli-
cations of large capitalists, and those transmitted
from London, cannot be entertained. As the
worse of the money market, and the current
of Use precious metals, have of late been
exceptionally affected by the French loan,
this fact is invested with considerable import-
ance. The astonishing success of this financial ope-
ration is the subject of generafcomment, and attests
in a striking manner the vastness of the pecuniary
means lying at the disposal of the two great nations
of Western Europe for the prosecution of the war.
If the Czar be amenable to reason, there is no fact
since the war began better calculated to induce him
to pause in his violent career than the eagerness with
which this French loan hasheen taken up, as con-

treated with the miserable failure of his own attempts
to raise money.
The scrip of the French Loan rose to-day to 3 to
31 prem., and closed at 21 to 31 prem., or about /
per cent. higher than yesterday.
There was to-day less demand for money, and a
fuller supply in the discount market. In the Stock
Exchange the rate of money on government securi-
ties was 31 to 4 per cent. The final instalment on
the last million of the Turkish loan fell payable to-
day. The whole 3,000,0001. (being the total amount
yet issued) of this loan is now paid up.
At Paris to-day a further rise was established,
amounting to about 1 per cent. in the Three per
Cents., and I per cent. in the Four-and-a-Half per
Cents. At Vienna, the exchange on London has de-
clined to 12.13, but the Austrian funds have again
fallen 3to 1 per cent. At Frankfort, Austrian stock
has receded about 1 per cent.; and at Berlin, Russian
securities are declining.
Consols were first marked 92 for the Bth February,
and closed at 921 to /. For money, transactions are
recorded at 911 to 92,4 and the closing quotation was
911 to 921. The official business report is as follows:
—Three per Cent Console, for money, 92, 911, 92 ;
ditto, for account, Bth of February, 92, 921, 923, 92.
Three per Cent. Reduced, 911, 1, 92. New Three
per Cents., 921, 3,1, 4. Long Annuities, expiring
in 1860, 4 5-16, 41. Bank Stock, 2101. Three-and-
a-Half per: Cent. Exchequer Bonds, falling payable
in 1839, 99:,.
Exchequer Bills remain quoted 4s. to 7s. pram. ;
Exchequer Bonds, 991 to 4 ; and India Bonds, 111.
to 14e. prem.
Tne regular opening of the transfer books of
Console will take place tomorrow (Wednesday).
Foreign stocks generally show firmness, including
Russian. Turkish closed per cent. higher than
yesterday, at 761 to 771. The amount of this stock
afloat in the market is now largely reduced. Sales
are recorded as follows:—Austrian Five per Cents.,
1852, 85. Brazilian Five per Cents., 1843, 971.
Buenos Ayres Six per Cents., 53. Dutch Four pe
Cent. Certificates, 933. Equador Bonds, 4. Peru.
vian Three per Cents., 501; ditto for account, 31st
January, 51. Russian Five per Cents., 100 ; ditto
Four-ands Half per Cents., 901, 1„ 90, 91, 901. Sar-
dinian Five per Cents., 85. Spanish New Deferred
Three per Cents., 181. Turkish Six per Cent. Bonds,
763,3; ditto for account, 31st January, 761, 1, 771.
The foreign exchanges this afternoon exhibited a
more favourable tendency. For bills on Paris there
was little inquiry, and the transactions were gene-
rally at the rather improved range of '251: to 23.025
at short, and 25.275 to 30 at 3 mouths. .On Am-
sterdam the current quotation was 11.171 to 1. Not-
withstanding a decline reported from Hamburg, the
rate on that city remained steady at 13.51 to 5.
Paper on Vienna and Trieste continues quoted 12.25
to 30. Several transactions took place in bills on
St. Petersburg at 331 to I d.
Owing to the more favourable appearance of the
exchange on Paris, there was to-day very little de-
mand for gold for exportation. There is an impres-
sion that no further effiux will take place for the
present.
The Emigration Commissioners will receive ten-
ders on the 20th instant for the hire of a ship, to be
ready by the 20th of March, for the conveyance of
emigrants from Trinidad to Madras and Calcutta.
At the meeting of the St. Katharine Dlck Company
to-day a dividend was declared for the half year
ending the 31st of December last at the rate of 2 per
cent., free of income tax. The report was considered
satisfactory, notwithstanding a decrease in the gene-
ral business of the company. A cordial vote of thiinks
was passed to the directors.
Lend shares to-day were quiet, at yesterday's quo-
tations. Oriental Bank shares advanced 11., and
those of the London Chartered Bark of Australia
showed more firmness. London Dock stock has been
dealt in at 103; St. Katharine Dock at 90; and the
Canada Company's stock at 105.

THIS DAY—Two O'CLOCK.
The English funds continue to ebow great
firmness. Businesa is very limited, but prices have
attained a further advance of per cent. Consols
opened at 921 for the Bth of February, and
are now quoted 921 to Z. For money transac-
tions are recorded at 92 to 921, and the present
quotation is 921 to 1. The Three per Cents. Reduced
have been dealt in at 92 to 921; the New Three per
Cents. at 92 to 1; Exchequer Bonds, at 991 to 1;
Exchequer Bills at 4s. to 7s. prem.; and India Bonds
at 11s. prem.
Foreign stocks remain steady, but scarcely any
business is going forward. The only salts recorded
are :—Brazilian Old Five per Cents. at 99; Turkish
Bonds at 77 and 771 ; and Russian Four-and-a-Halt
per Cents. at 901 and 91. Turkish is now quoted
77 to ; Mexican, 21 to 1; Russian Five per
Cents. at 100 to 102; and Spanieh Deferred Three
per Cents. 181 to t.