The Express.
London, England, 1856-09-16 00:00:00

MONEY MARKET--THIS 1947.

Two o'Cww.

The tendency of the stook markets is still in the
direction of a rally. After rising 1 par cent., the funds
are now quoted per cent. higher than they closed yes-
terday. Consols Joe the Bth of October were marked
94 in the morning, and are now quoted 931 to I. For
money the price is 93/ to 1. Exchequer Bonds,
1859, are marked 991 to 1; Exchequer Bills 13s. to
18s. prem.; and India Bonds, 14s. to 17e. prem.
Turkish Six per Cents. have recovered to 1011 to
1 (fee the 29th inst.), and the Guaranteed Four per
Cents. to 102 Ito 1. Other foreign securities have
met with only limited transactions. The sales
include Brazilian Old Five per Cents., for the 29th
but, at 1031; Equador New Consolidated Bonds, at
161) Peruvian Four.and.a-Half per Cents. at 791
ex die.; ditto, Three per Cents., at 57; ditto, Four-
and-a-Half per Cent. Dollar Bonds, at 601; and Por-
taros, Four per Cents., for the new account, at 501.
The specie arrivals reported yesterday comprise a
total of more than 300,0001., including 825.708 dole.
by the Atrato, from the West Indies, and 880,949
dole. by the Africa, from New York. The specie ex
the Atrato, which consists chiefly of silver, will not
be in hand about a week. Of the supply ez the
Africa no portion is expected to be retained here. The
exchange at New York on London was firmer, and
closed at 1091 to I.
The Joseph Tarratt, which left Melbourne on the
10th June, with 21,900 oz. of gold on freight, valued
at 87,8001., has now been 97 days at sea. The arrival
of the royal mail ship James Baines, from the same
port, is also shortly looked for. This Teasel is ex-
pected to bring a heavy remittance in cold.
The demand for silver for exportation to the East
continues, and the price still shows an upward
tendency.
The corn market yesterday was active, and new
English wheat realised an advance of 3s. to 4s. per
quarter over last Monday's rates, showing a rise of
about 21. since Friday. Flour ruled 2s. to 4s.
London
e dearer. The arrivals of foreign grain in
last week were moderate, and those of flour
limited. Since last Friday no lees than 42 pain
Midst vessels have arrived at port of call, being a
larger number than has been reported for several
weeks past. Of these 24 cargoes are wheat, nine
India. corn, eight barley, and one oata. Transmi-
ttals/ in this branch of the market are restricted,
owing to the demands of holders, who ask 3s. to 4s.
per quarter above last week's rates. The provincial
markets held at the close of last week are generally
=dearer, but in most of the French markets
ha declined.

The French government has extended the decree
allowing the importation of foreign grain and pulse
at the minimum duty until the end of 1857, at the
same time prohibiting the exportation.
We understand that the committee representing the
Spanish cospon-certifloate holders is endeavouring to
arrange an interview with the new Spanish ambas-
sador, who hes recently arrived in London, with a
view to explaining to his excellency the position of
the holders, and to induce him to urge upon the
Spanish government a speedy settlement of these

A meeting of the holders of Central American
Bonds is convened by the committee for the 19th
inst., to reconsider the second resolution passed at
the meeting of the Bth August, and to " consider the
steps to be taken with regard to the debts of the
stereo of Nicaragua, San Salvador, and 'fondues."
A half-yeariy dividend at the rate of 5 per cent. per
annum is to be payable on the shares of the lonian
Bank on the 10th October.
The shares of the Ceylon Railway Company, which
closed on Saturday, at 11 to 2 prem., have fallen to
to 1 prem., owing to the publication (in the Daily
News of yesterday) of extracts from the Co'ornbo
Observer. The Chamber of Commerce, it ap-
pears, oppose the concession to this company,
and advocates the construction of a railway by
menus of a direct government loan. It also recom-
mends that tenders for the execution of the works
shall be publicly invited. At a public meeting held is
Colombo a protest wbs likewise entered against the
draft ordinance published in the government Gazette,
which b intended to confirm the provisional agree-
ment entered into with the Ceylon Railway Company.
All parties appear to agree, however, that the time
has arrived when the advantages of railway communi-
cation must be extended to the colony.

MONDAY EVIINING.

In the funds, and other Stock Exchange markets,
there was again some fluctuation to-day; but, upon
the whole, the panic which prevailed lost week seems
to have received a check. At one period of the
morning Consols had even attained a recovery of 1
par ant. Fresh speculative sales being than premed,
a fall of 1 per cent. ensued; but after the regular
hours the market was steadier in tone, and the
latest quotations were nearly the same is
those of Saturday. In the railway share
market there was a sensible tendency towards
recovery, especially in those stocks which have
of late been chiefly selected for the operations of
speculators for lower prices. Lancashire and York-
shire, Midland, and Great Western stocks were all
sears* at the settlement, in consequence of the extent
to which speculation for the tel has lately been car-
' Hid. Many operators in this direction, both in the
funds and railway securities, have shown to-day a
disposition to buy back, by way of realising the
considerable profits which have accrued during
the late fall. This disposition is also stimu-
lated by the discovery that the public have
to-day been rather eager buyers at the reduced rates
now established. It is generally believed that the
harvest sow secured is a good one, and that the
general trade of the country, including that connected
with the transmission of the precious metals to and
fro, is ofa highly profitable character. There is thus
every mason to believe that the public will continue
to invest steadily. In considering the position of
the Consol market it must also be remembered that
the issue of new stock, which will be made on Thurs-
day next on account of the new loan, is the
last one authorised. The Chancellor of the Exche-
quer retains power to mike a further limited issue of
Exchequer Bills, should the necessity arise, or to sell
Savings Bank stock; but no new stock can be created
until the special sanction of parliament shall have
been obtained.

The recent convulsion of the stock markets has
naturally led to increased discussion relative to our
monetary prospects. In the most influential and best
informed quarters to-day the views expressed were
almost uniformly of a reassuring character. In the
discount market no business is done below the Bank
minimum, and the &maid for money continues
good, but the supply was ample in all quarters. It is
believed that Thursday's instalment of one million
on the loan, to which many parties have looked for-
ward with apprehension, has been very generally
provided for.

Consols opened this morning at 931 for the Bth
October, being the final quotation of Saturday, were
marked as high as 94, molded to 931 to 1, and finally
closed at 931 to t. For money the latest price was
931 toe. The official business report is as follows:
Three per Cent. Consols, for money, 931, t, 1. 1,1,
1, t, 1 ; ditto. for amount, Bth Oct., 93t, 931, 94,
931, 931. Coned Scrip (Loan of 6,000,0001.), It
Lf.Three-and-a-Half per Cent. Exchequer Bonds,
ling payable in 1868 and 1869, 991.

Exchequer Bills were dealt in at 13s. to 16s.
prem., beteg a huh, lower than yesterday. Exchequer
Bonds remain steady, at 991 to a.
In the foreign stork market the chief feature was
a renewed pressure of salsa of Turkish Six per Cents.,
the " continuation" of per cent, which 'AM exists
on this stook discouraging speculative holders, whilst
it stimulates operations for lower pier.. The fail
In the Six per Cent.. was per asst., making a total
reduction of 11 per cent. mace Saturday morning,