The Express.
London, England, 1863-10-27 00:00:00

MONEY MARKET.-(THIS DAY.)

Two dOuxim

The stock markets to-day are duU, and the ten-
dency is less favourable than it was yesterday.
The funds remain at yesterday's quotation-, and
there is scarcely any reduction in the prices
of home railway stocks, but some of the
more speculative kinds of foreign toads, especially
Greek, are somewhat prejudiced by the approach of
the settlement

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Rentea were quoted
67fr. 20c., being tp:. lower than yesterday.
Consols are now quoted 93 to 1 for money, and
931 to 1 for the account (November 5). The
official business report is as follows:—Three per
Cent. Consols, fo;Money, 93, 1 ; ditto for account,
931; Three per Cents. Reduced, 911, 1;
New Three per Ceuta., 91/, 1; New Two-and-
s-Half per Cents., 771 ; Bank Stock, 2341 ;
India stock, 2261 ditto Five per Cent. stock, 1091,
1 ; ditto Four,per Cent., 1001 ; ditto Bonds, 225.
prem. ; Five per Cent. " enlaced " rupee paper,
1071 ; and Exchequer Bills, is. tbs. to 2s. prem.
Greek Bonds bare fallen 1 per cent., being now
quoted 31 to 1. Turkish Consolid6s and Mexican
Bonds are / per cent. lower, at 631 to 64
and 42 to 1, respectively. Spanish Pailitf.
Bonds are relatively better supported, at 351 to 1.
The Turkish Loan of 1854 is quoted 92 to 93, ex
div. ; ditto, 1858, 701 to 1 ; ditto, 1862, 711 to 1.
Transactions are recorded as follows :—Brazilian,
, 1852, 1858, 1860, 912, 1 ; Belgian Four-and-a-Half
per Cents, 1001 ; Egyptian, 1011, 1001 ; Greek,
'for account, 311, 1 • ditto Coupons, for account, 141,
15, 14/ ; Italian, for account, 721; Mexican, for
account, 42, 1, 42; Portuguese, 1853, for account,
491, 1 ; Russian, 1862, 931, 1 ; Spanish Passive, for
account, 351, ; ditto Certificates, for account,
131 ; Turkish, 1858, for account, 701; ditto, 1862,
711 ; ditto for account, 711, ; ditto, 1863, 21 die. ;
Venezuela, 1862, for account, tiL
The Portuguese Loan is steady, at 11 toll prem.,
and the Brazilian dull, at Ito prem.
International Financial shares are now quoted
4f to 5 prem. ; General Credit, 21 to 3
prem.; London Financial, 51 to prem. ;
Hudson's Bay, 11 to 11 die. ; Egyptian
Trading, 11 to 21 prem. ; Privileged Bank
of Austria, par to 1 prem. ; Anglo-Aus-
trian Bank, par to 1 prem. ; Discount
Corporatiou, 81 to 91 prem. ; Mercantile Credit,
21 to 1 prem. ; and Mortgage Bank of India, 21 to
31 prem.
. .

English Railway stocks continue to present indi-
cations of emerging from the neglect by which the
market has been characterised for some time past.
Prices in this department are materially strengthened
by the continued absence of sales—a natural con-
sequence of the extent to which Eugliah
railway property has now become lodged in
the hands of bout fide investors. The general ten-
dency of prices in the Stock Exchange appears to
be rather favourable than otherwise, owing chiefly
to the easier appearance of the money market. It
is not to be overlooked that the Bank of France,
being still pressed upon for gold, is helping itself to
a supply here, and that the otherwise inevitable
accumulation in this country will thus be prevented ;
but, so long as the French Bank makes no attempt
to draw upon the existing stock of gold in the Bank
of England, the latter establishment will probably
not deem it necessary to raise the rate of discount.
Meanwhile, the disposition on the part of the
public to embark in new securities conti-
nues. Two additional masses of stock were
yesterday placed on the market in the allotment
of the Portuguese Loan and of the capital of the
Land Mortgage Bank of India ; yet thee instances
furnish merely an addition to the already large
number of new securities which have been well
received by the public, and which are firmly main-
tained at satisfactory premiums. A further indica-
tion iu the same direction is afforded by the eager-
ness with which the market yesterday received the
prospectus of the Mercantile Credit Association,
the shares offered being already subscribed for four
times over.

The discount market was again rather easy yester-
day. Good bills were tam at 31 per neut., with
exceptional transactions at 31. The amount of
business at the Bank of England was accordingly
limited.

The applications for the 250,000/. of the loan
reserved for Portugal have amounted to the extra-
ordinary total of 3,561,5001., and, after allowing for
special allotment.; in that country, the distribution
amongst the general subscribers there will be at
the rate of only about 3 per cent, of the amount
applied for. this result is the more remarkable
when it is borne in mind that in Portugal, as
here, a preliminary deposit of 5 per cent, was
required, and that uo facility exists for
dealing in new stocks in the Portugui>e market
prior to their allotment. The inducement involved
in a market premium being thus absent, it is to be
inferred that a very large proportion of the Portu-
guese subscription emanated from bone. fide lures-
tors—from the same cl:uix, in fact, who have for a
long time past absorbed so large au amount of
Portuguese stock iu the London market. The
scrip is expected to be ready for delivery towards
the middle of next week.

The scrip of the new Brazilian Loan will be
ready for delivery on Thursday.
The Committee of the Stock Exchange have
appointed Wednesday, the 4th November, a special
settling day in the following securities :
_ _

Imperial Brazilian Four-aad-a-Half per
Cent. Loan Scrip To be marked.
Joint Stork Discount Company (Limited)
New Shares
Aerated Bread Company (Limited).. )To be marked 114 tke
Oriental Hotel Company (Limited).. J Twice a Week List.
Loan. Treat. and Ageoey Company of
South Africa (Limited) Not to be
Jersey Imperial Hotel Company (Limited) } marked.
The fortnightly settlement in shares and foreign
stocks will commence to-morrow (" continuation
day"), and terminate on Friday.
The Stock Exchange will be closed on Monday
next, the 2nd of November, by order of the com-
mittee, that being the;day fixed for striking the
half-yearly balance at the Bank of England, when
the transfer offices will &limbo shut.
. .

About 250,0001. in gold, forming a portion of the
recent arrivals of American and Australian, has
been taken for exportation abroad, chiefly, it is'
stated, on account of the Bank of Frauce. The
foreign exchanges are nearly low enough to admit'
of the transmiasiou of gold from England to the'
continent at a profit.
The Europa, from Boston, has brought 4,0001. in
specie, and her advises announce the sailing from
New York for England of the Saxonia and City of
London, with 130,0001.
The steamer Ceylon will take to-day as much
as 540,000/. in specie and bulliou, of which 375,6501.
is silverand 74.0601. gold, for Bombay, and f 10,400/.
gold for Alexandria. The increase in the shipments
of gold forms a feature of interest.
A. special meeting of proprietors of the Union
Bank of Australia is called for the 11th Nov., "for
the purpose of considering the propriety of repealing
the 35th clause of the company's deed of settlemeut,
so far as it limits the amount by which the capital
of the company may be iucreased to the sum of one
million pounds, and of resolving that the existing
capital of 1,000,0001. shall be further iucreased."
It appears that it is the intention of the directors to
propose the issue of 10,000 new shares of 251. each,
at a premium of 20/. per share, and payable by in-
stalments ; to be distributed among the proprietors
in the proportion of one new share for every four
shares held.