The Express.
London, England, 1862-01-13 00:00:00

MONEY MARKET.-(THIS DAL)

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Two oPOzooc.
The funds to-day are steady at the closing
quotations of Saturday, with little business. The
other markets are very quiet, but prices generally
are well supported. There is a rise in Turk
Bonds and in Lancashire and Yorkshire Railway
stock.

21L, 255. prem.

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101

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------
At Paris this morning, aooording to Mr. Boo-
tees telegram, the Three per Cent. Renton opened
at 681 r. 67c., being about 1-16 per cent. better

_
than on Saturday.
Consuls are officially marked 931, 1, and far
money, and 931 and 1 for the acoount. The
present quotation is 931 to both for cash awl
the 6th February. The official business re-
port is as follows :—Bank Stock, 2391, 240 ;
Three per Cents. Reduced, 93, 1 ; New Three
per Cents., 921, 931 ; India Five per Cent. Stock,
1061,1061, 1061 ; ditto, for account, 106, 1 ; ditto
Four per Cent. Debentures, 1863, 991,1; ditto, 1800,
991, ; ditto, 1864 or 1866, 991; Five per Cent
"enticed" rupee paper, 100, 991; ditto Five-aud-

a-Half per Cent., -10-6 ; Excheque; kis, June, 245..

Mexican Bonds are in better demand, and are bet
marked 284. Turkish have risen 4to 1 per cent.,
the Loan of 1854 being now quoted 82 to 4, and that
of 1858, 72 to 4. Sales are recorded ea follows
Brazilian Old Five per Cents., 1014 ; ditto, Four-
and-ft-Half per Ceuta , 1860, 91 ; Italian Five par
Cents., 634, 4, ex div. (exchange 251 r.) ; Peru-
vian Three per Cents., for account, 84 ; Maxima
Three per Cents., for account, 284, ft;
Portuguese Three per Cents., 1853, for account,
464, 4, ex div. ; Russian Five per Cents., far
sooount, 994 ; ditto Three per Cents., 1859, 60,
594 ; Spanish Three per Cents., for account, 514, 4,
4, ex div. ; ditto New Deferred Three per Cents.,
for account, 424, ex div. ; the Committee's Certifi-
cates, 64 ; Turkish Six per Cents., 1854, for mis-
count, 824, 82 ; ditto Six per Cents., 1858, for re-
count, 724, 72, 4.
The fortnightly settlement in shares and foreign
stooks will commence to-morrow (" continuation
day") and terminate on Thursday.
The prospectus is issued of an Imperial Mooriak
Loan for 426,0001. steeling. The loan is to be West
is Five per Cent. Bonds, amounting to 501,2001.,
st 85 per vent. It is to be redeemed by • sinking
feud of no less than 5 per cent per annum, and the
bends drawn by lot half-yearly are to be aid off at
the rate of 1001., oe 16 per cent premium. This
is, in many respects, a remarkable operation. It
results from a convention between the Emperor ci
Morocco and the Queen of Great Britain, con-
cluded at Tangier on the 24th October last,
and has for its object to enable the Emperor
to fulfil his treaty obligations to Spain, and thereby
to secure the prompt evacuation of Tetuan by the
Spanish forces. With this view, which has a poli-
tical bearing, the Britlutcrnment have adopted
the unusual course of themselves parties to
the present arrangement, y taking in hand the
custody and disposal of 50 per cent. of the customs
revenues of all the Moorish ports, which are spe-
cially hypothecated to the service of the loan. Pare-
graph 3of the prospectus contains the very lia-
r crtant provision that her Britannic Majesty%
government will, each half-year, pay in Moroao%
to the agents of the contractors of the loan, out or
rte funds to be received by the said special com-
missioners, a sum sufficient to meet the interest
and sinking fund, six weeks before the same be-
come payable in London. When the loan, has been
extinguished, any Wade which may remain is
the hands of the commissioners are to be trans-
ferred to his Majesty
.the Emperor of Morocco.
The " special commissioners" relerred to are the
British Consuls at the various ports. The sewer
amount of the customs revenues of Morocco for the
last five years has been 322,9041. per annum. The
half of this, assigned to the bondholders, is 162,000 E,
while the sum required for the interest and sick-
ing fund of the loan is but 38,000/. per annum.
24 per oent. discount will be allowed on payments
in anticipation of the instalments. The coupe's
will be payable in London half-yearly at the Lan-
don anti County Bank. Morocco, it is pointed one,
has neither foreign nor home debt, and each of its
provinces supports its own army. The grand pro-
tection to the bondholders, however, is of course
tl e direct interposition of the British government,
as conveyed in a distinct treaty with Morons.
Short of an absolute British government
guarantee the security is complete, for is
gas the whole strength of Great Britain at its bade.
The list will be closed on Friday next. To those
who have watched the effect of the large sinking
fund on the prices of the Peruvian debt it will be
quite unnecessary to point out the probable opera-
tion of an annual sinking fund of five por cent. ea
the price of the present small loan.
The amount or Australian gold taken to the Bank
an Saturday was 45,0001.
The Australian gold ships known to be au*,
way to this country are :—The Moravian, with
191,0001. ; Indemnity, 50,0001, •, Monarch,l7o,oool, • Clutha, 91,0001. ; and the Lightning,
with 96,0001. The total is about 600,0001.
Private letters from Paris state that the unfortu-
nate speculator Mirk, is now in a incise demit,
after haviug been in prison for many mouths.
There is an impression in some quarters that the
first condemnation will be cancelled, sod that
Miris will yet be acquitted.
We are informed that a company has been formed
to lay a submarine cable from St. David's Head to
Wexford, for the purpose of opening direct tele-
Qphic communication between London eat
ueenstown. The Electric and International Tele-
graph Company are to construct, st their e
all the necessary land lines, and Messrs.
Elliot, and Co. have entered into a contract with
the new company to lay the submarine portion, sot
have undertaken to guarantee its efficiency for 11
years. The whole is to be completed in two months.
The ar nal meeting of the North British Andra-
Lilian Company (Limited) is called for the 28th inst.,
to declare a dividend ; and the half-yearly meeting
of the Electric and International Telegraph Com-
pany for the 6th February.
The half-yearly meeting of the Australian Trost
Company is called for the 31st inst.
Vice-Chancellor Wood proposes, on the 21a1
instant, to appoint an panel manager of the Stine
Fire Insurance Company.
On the 27th instant the Master of the Rolls in-
tends to appoint an official manager of the Times
Are Autumns Company.
Under the title of realised profits," the Com-
mercial Union Assurance Company have adopted a
agate.not hitherto introducedinto mercantile
insuranom, by which the pleat by any interme-
diate purchase of goods can insure the additional
xelne or realised profit from lose by fire.
With regard to the general ooaditiou of trade, so
find the following hopeful remarks in the circular
of Messrs. Joseph Travers and Sons :
The dullest part of the whets baring been paned, and
the account, from India end China being favounble both to
the prospects of trade and the probable extent of the cotton
supply, there is reason to suppose that with the cosh:nem
whin the ictilentset of liwinierias difficulty will create in
all departmen.a of business, the fear of any irremediable end
long.protracted suffering among tie Lancashire operatives
may be finally dismissed. Every day the transactions
et the world are adsplitg themnelvea more and more
ty the altered conditions ossolgtost on the Anwebsa
sad the hens( is strengthened that
ramoscaly will the malt he . highly imposes' is
the channels of weelthj, ead la giving alabilar
to the settee trade of the Meru bat also that this We*
ati beeblalwal ate mak hem sod at lateneuediate been.
velaseee thee had ever beat eatailemat pesible. In time arse
saieeteasse, la is fair to pressas that tie demand toe slide
.01,Epars domestic articles at food sad Woozy will be istia*
and throughout the preset year at, glad, ,sa mow
OW, While there is also tie obi* by may pm-
letawie aoasideopd eery ele46VOWllig to the walls la
Amerna, and the activity st bwie ossisomestesibe Moo
national Exhibition, it will eves 'mad tint of moo d
our moil prosperous years.