The Express.
London, England, 1862-07-24 00:00:00

MONEY MARKET.-(THIS DAY.)

FRESH REDUCTION IN THE BANK BATE
OF DISCOUNT.
Two o'Ctocs.
The directors of the Bank of England have this
day reduced the minimum rate of discount from 211
to 2 per cent.

This measure not having been fully anticipated,
has given an impulse to the funds, which have ex-
perienced a fresh rise of 1 per cent. There is also
an improvement in several of the principal English
railways, particularly Great Western and London
and South Western. The tendency of the stock
markets generally is favourable.
The scrip of the New Portuguese Loan is
firm, at 11 to 11 prem.
Consols are officially marked 93, 921, and 934
for money, and 93 for the account. The present
quotations are 934 to 1 for money, and
981, "sellers," for the 7th of August.
The official business report is es follows :-Bank
Stock, 237 ; Three per Cents. Reduced, 934, 93 ;
New Three per Cents.,93l, 93, 4, ; NewTwo-and-
a-Half per Cents., 76 ; Thirty Years' Annuities,
1885, 151 ; India stock, 227 ; ditto live per
Cent. stock, 1081, 1071 ; ditto Four per Cent.
Debentures, 1863, 1004 ; ditto Bonds, 29e. prem. ;
Five per Cent. "refaced" rupee paper, 1031,
104 ; Exchequer Bills, 175., 205., prem.
The foreign stock market is rather active, but
prices in this department have not received much
impulse from the Bank action. The Turkish
Loan of 1854 is quoted 841 to 854, being
slightly better ; that of 1858, 73 to 1 ;
Spanish Certificates, 94 to 1; Egyptian scrip, 81 to
94 prem. ; the scrip of the new Turkish Loan, 11
to 2 prem., ex div. ; ditto paid up, 694 to 1, ex div.
Transactions are recorded as follows :-Brazilian
Four-and-a-Half per Cents., 1852, 1858, 1860,
911 ; Dutch Two-and-a-Half per Cents., 641,
ex div. (exchange, 128.) ; Egyptian Seven
per Cents. scrip, 9, it, 81, premium ;
ditto paid-up scrip, 914, 1 ; Italian
Five per Cents., 701, ex div. (exchange
25fr.) ; ditto Maremmana Railway, 73, ex div. ;
ditto scrip, 11 prem., ex div. ; Mexican Three per
Cents., for account, 271, 281 ; Moorish Five per
Cents, 961, 97 ; Portuguese Three per Cents., 1863,
for account, 454, 4, ex div. ; Russian Five per
Cents., 1862, scrip, 1, 1 prem. ; ditto paid-up scrip,
931 ; Sardinian Five per Cents., 841 ; Spanish
New Deferred Three per Cents., 441, ex div. ;
the Committee's Certificates, 94 ; Turkish Six per
Ceuta., 1864, for account, 85 ; ditto Six per
Cents., 1858, 734 ; ditto for account, 721, 731 ;
ditto 1001. Bonds, 76 ; ditto Six per Cents.,
1862, scrip, 11, 2, 11 prem., ex div. ; ditto paid-
up scrip, 694, 4,4, ex div.
The scrip of the new Portuguese Loan continues
in demand and is still rising steadily. The last was
closed yesterday at 12 o'clock. The total applied
for is about 21,000,000/., and as the amount of
stock offered for subscription (exclusive of
the 500,0001. taken prior to the issue of the
loan, and of the 500,0004 reserved for
Lisbon) was 4,000,0001, it follows that the London
list represents more than five times the amount of
stock to be allotted. Telegrams from Lisbon an-
nounce, moreover, that "before the Lisbon Bank
advertisement of the loan was published, applica-
tions were made there in excess of the 500,0001.
reserved for Portugal." Some of the disappointed
applicants in Lisbon will perhaps be glad to buy
the stock here. It is evident that the task of dis-
tributing the loan will be a peculiarly difficult one.
The particulars are published of a number of
Austrian Five per Cent. Bonds of 1852, which
have been drawn for redemption. The numbers
are likewise published of 156 bonds, amounting to
42,5601., of the Turkish Six per Cent. Loan of
1864, which were drawn by lot on Friday last, and
are to be paid off at 100 on the 10th October next.
About 9,0001 in gold was taken to the Bank
yesterday.
Mexican dollars continue in demand, and the
price has improved to Eps. lid. per ounce. The
quotation comes higher from China.
The London and North Western Railway traffic
return shoed this week an increase of 8,0811. ; the
London and South Western an increase of 4,6361 ;
and the Lancashire and Yorkshire a decrease of
4,700/.
The report of the directors of the Scottish Aus-
tralian Investment Company shows that, notwith-
standing the dulness of trade in the colony, the
colonial profits of the half-year were 1,0311. more
than in the preceding six months. The total gross
profit in the colony and London is 12,8261. The
directors propose a dividend at the rate of 10 per
cent, per annum, leas income tax, which will re-
quire 10,0001., and leave at the credit of the re-.
served fund 8,2931. The directors have been enabled
to issue a further considerable amount of debentures.
A further call of 21., making 16/. paid, is to ke
paid by the 21st August on the shares in the Lon-
don and South African Bank.
A call of 15s. a share is to be made in the Bank-
ruptcy Court on the 16th August on the contribu-
tories of the Taranaki Steel Iron Company
(Limited).
The interest is advertised on the bonds of the
Delaware and Raritan Canal and Camden and Am-
boy Railway and Transportation Companies.
The half-yearly interest is advertised on the
almond Preference Six per Cent. Bonds on the
Northern Railway of Canada.
Subjoined are the latest quotations of insurance,
dock, canal, and other shares, as given in the Last
Stock Exchange list :
losuranoe.-Alliance Marine, 57 ex di,. ; Commercial
Colon, 41 to 1 ; Mercantile Fire, 41 ; Ocean Marine, 151
to ; Bock Life, 84 ; Timm* and Matey Marine, 41;
Univereal Marine, 4 to j.
Docks.-East and West India, 129, 30, 291 ex div.; Un-
arm, 551ex.liv.
Canals.- Greed Junction, 61 to; ex div. ; Regent's (or
Lowice), 25/ ex div.
Waterworks.-Barlin. sto ; Grand Junction, 721
ex div. ; West Middlesex, 1051 to 5 ex div.
With reference to the market for American secu-
rities, Mr. E. F. Satterthwaiie reports as follows :
The market/or American securities is London haa, awe
our last, bees vary mach depriesed, sad sales very difficult
to negotiate except at low rates. The geotetioes in many
cases are purely nominal, and if stock was forced even the
lowest prices could not lie obtained. The only exception
appears to be Illinois Construction Bonds, which are in de-
mand for Amsterdam at 761 to 77.

WEDNISDAT EVENING.

Consols, which closed yesterday at 93, " sellers,"
for the 7th of August, touched this morning 93 to
1, and closed at 92/ to 93. For money the last
price was likewise 921 to 93. The official business
report is as follows : Three per Cent. Con-
sols, for money, 93, 921 ; ditto, for account,
(August 7), 93, 921, 93 ; Bank Stock, 236 ;
Three per Cents. Reduced, 93, ; New Three pee
Cents., 931, 93, 1; New Two-and-a-Half per Cents.,
77 ; India Stock, 225, 227 ; ditto Five
per Cent, stook, 1081, lon ; ditto
Four per Coat Debentures, 1864 or 1366, 1001;
Five per Cent. "enfaced" rupee paper, 104 ; ditto
Five-and-a-Half per Cent, 1101, 110, 1.
The India Five per Cent. Stock remains at
1071 to 1081. There was no alteration in the
rupee paper. Exchequer Bills were quoted 17a.
to 20a. prem.
The variations in the foreign stock market were
of little importance. Turkish Bonds were inquired
for in the morning, but afterwards became rather
dull. Mexican Bonds and Egyptian scrip left off I
per cent lower than yesterday.

The board of directors of the Lancashire and
Iforkahir• Unger lave rewired on recommending the
eiereislihme
tik. immer.• te
had the munificent sum of 16,0001.0 t.