The Express.
London, England, 1863-05-18 00:00:00

MONEY MARKET.-(THIS DA

Two o'Cioaw.
There is still no variation in the Panda, which are
quoted precisely the same aa they closed onroaturlay.
The other markets are quiet but generally firm.
English railway stocks are well supported. Business
in foreign securities has decidedly slackened. Prices
in this department are rather better in some cases,

and lower in others.
The scrip of the Confederate Loan is rather
better, at }to 14 prem. Italian is also somewhat
firmer, at ii to 21 prem. Turkish is steady, at 1

to 1} prem.
Consols are now quoted 931 to I, cum div.,
for money, and 92 to i, ex div., for the ac-
count (June 9). The official business report is as
follows :—Three per Cent. Console, for mo-

ney, 931, 4, 4 ; ditto for account, 92 ; Three I(
pet Cents. Reduced, Hi, f ; New Three per Cents.,
911, ; Bank Stock, 234 ; India Stock, 232 ; ditto
Five per Cent. Stock, 1104 ; ditto Bonds, 15s.
prem. ; Exchequer Bills, 4a. dia.
The foreign stock market is generally rather
quiet. Spanish Passive Bords are rather fiat, but
the Certificates are inquired for. Mexican Bonds
slightly improved in the morning, but are now dull.
Egyptian and New Granada Bonds are firm, with a
continued demand, and New Granada Land War-
rants have advanced. Venezuela Six per Cents.
have risen nearly 1 per cent. There is a re-
duction of to 4 per cent. in the Anglo-
Turkish Loans, but the Consolidis have
improved #. Greek Bonds, after being
marked as high as 321, are now about f
per cent. lower than on Saturday. Some of
the present quotations are annexed. Turkish
1854 Loan, 88 to 89 ; ditto 1858, 70 to 4 ;
ditto 1862, 71 to 4 ; the Consolidis, 504 to 1 ; Greek,
324 to 1 ; and Venezuela Six per Cents., 55 to 66.
Transactions are recorded as follows :-Brazilian,
1004, 101 ; ditto, 1852, 1858, 1860, 941, 4 ;
Egyptian, 1004, 100 ; ditto second issue,
100 ; Greek, for account, 324, 4 ; Mexi-
can, for account, 37, 4, 361 ; Moorish,
96 ; New Granada, 161, 17, ex div. ; ditto De-
ferred, 101, #, az div. ; ditto Land War-
rants, 84, 4,4; Portuguese, 1853, for account,
491, 4 ; ditto 1862, 491 ; Russian 1862, 924 ex
div. ; Spanish Passive, for account, 35, 344
ditto Certificates, 134, 12/, 134 ; Turkish,
1858, 1001. Bonds, 724; ditto 1862, for
account, 714, 4,1, 4 ; Venezuela, 1862, 554, 1,
ex div.

The shares of the General Credit and Finance
Society of London were dealt in this morning
as high as 5 prem., but have since
declined to 21 to 21 premium. Those of the
International Financial Society are quoted 5 to E 4
prem. ; and London Financial Association, 1 to
prem.
The rise of per cent. in the Bank rate of dis-
count on a Saturday has occasioned considerable
surprise, as well as not a little dissatisfaction,
amongst the various monied establishments. It is
urged that the step ought to have been taken on
Wednesday or Thursday, when it was generally
looked for. The reason for its sudden adoption
is believed to be the continued activity of the
demand for money at the Bank on Saturday,
where, however, no pressure has been experienced.
The alteration in the course of the money market
will help to impart more firmness to the foreign
exchanges, and may perhaps cause a portion of the
future imports of gold to be retained here, thereby
compensating for the recent withdrawals of sove-
reigns for Brazil, Turkey, and other quarters.
In consequence of the alteration at the Bank, the
joint-stock banks have raised the rate allowed for
deposits from 2to 2} per cent. The terms of the
London and Westminster Bank, however, are only
14 per cent for sums below 5001. The discount
establishments will henceforward give 24 per cent.
(instead of 2) "at call," and 21 (instead of 21) at
notice.
The Star of Peace has arrived from Sydney with
18,1121. in gold.
iseThe Shannon for the West Indies will take to-
day, 27,0001. in silver.
The Melbourne advice. announce the sailing of
the undermentioned gold ships for this country,
viz. the Marco Polo, with 14,634 ounces ; the
Essex, with 33,772 ounces ; the Dover Castle, with
27,067 ounces ; and the Edmund Graham with
18,871 ounces. The total by the four vessels is
94,344 ounces, worth about 377,3001.
The expected prospectus of the General Credit
and Finance Company. of London (Limited)
has been definitively issued. The board is
strongly and influentially constituted, in-
cluding names of eminence in the commer-
cial, financial, banking, and railway world.
The chairman, as before mentioned, is
Mr. Samuel Laing, the late Finance Minister of
India. In alphabetical order there then follow
Mr. W. P. Andrew, chairman of the Scinde, Pau-
janb, and Delhi ailways, and of other undertak-
ings; Mr. Samuel Beale, M.P., chairman of the
Midland Railway ; Mr. Edward Blount, the
banker, of Paris ; Mr. Thomas Brassey, jun., the son
of the great contractor ; Mr. Chas. P. Devaux, head
of the firm of C. Devaux and Co. ; Sir S. A. Donald-
son, late Premier of New South Wales ; Mr.
J. T. Mackenzie, deputy-chairman of the Eastern
Bengal Railway ; Mr. John Bramley-Moore,
14. P. ; Mr. Alderman Salomon, M. P. ; Mr.
Samuel Leo Schuster; Mr. Chsa. Turner, hi P.,
of Liverpool • and Mr. George Worms. The
endeavour has apparently been to combine re-
presentatives of the home, continental, colonial,
and Indian interests. The bankers are the London
and Westminster and the Union Bank of London,
both of which establishments are represented on
the board—the former by its chairman, Mr. Alder-
man Salomons, and the latter by Mr. Samuel Beale.
The influential Liverpool connexions of the pro-
jest will probably cause it to attract great
attention in that town. Enterprise in the
colonies and in India is to be specially en-
couraged : hence the accession of Sir S. A.
Donaldson in the one ease, and of Mr.
Laing and Mr. W. P. Andrew in the other ;
as regards the continent, it has already been stated
in these columns that the company will act lull
agents for the Socidtd Genfrale of Paris, a large
combination lately formed there for the develop-
ment of industrial and commercial enterprise. The
I names connected with the Paris association have
already been published, and appear on the
'prospectus of the present undertaking. It is also
stated that the company proposes to establish
general European agencies, and that relations have
already been formed with Mr. Giles Loder, for
Russia, and the Bank of Darmstadt. The pro-
gramme of the proposed operations is described as
follows :
The bashing, will be to negotiate loans and ea:cessions ;
assist industrial enterprises, public works and railway us.
dertakinp ; negotiate foreign, I udiau , and oolonial bonds ; con-
duct mercantile transactions; and establish sgeoelee for
large commiesion business • in a word, to nodsrhke all such
operations as an intelligest'and experienoed capitalist might
effect on his own account with a capital of millions, with
the exosption of such purely speculative transactions es are
prohibited by the memorandum of smociation. The credit
and resources derived from a lam subscribed capital could
thus be employed in earning dividend with a comparatively
small paid-up capital.
The directors are to have no remuneration until
the shareholders receive a minimum dividend of 5
per cent. ; 10 per cent, on the divisible profits of
the year is then to be assigned to the board. The
"first capital" is fixed at 2,500,0001. in 125,000
sham of 201. each. Of these 20,000 shares have been
subscribed for by the French party, and the whole
of the remaining 106,000 by the private subscrip-
tions of the directors and their friends, but arrange-
ments have been made for deducting from these
subscriptions so as to give the public the option of
subscribing for 35,000 shares. Al it is not doubted
that there will be a great rush for them, no deposit
is required from applicants.