The Express.
London, England, 1856-07-11 00:00:00

MONEY MARKET-THIS DAT.

Two o'CLoag.

The stock markets have received a decided check.
The funds show a further decline of 4 per cent., andl
in the other departments of the Stock Exchange
increased heaviness prevails, especially in the rail-
way share market. Consols are dull, at 954 to
ex div. for money, and 964 to 4 for the 7th of
August. The Three per Cent Reduced have been
dealt in at 954 to 96 ; the New Three per Cents.
at 981 to ; the Nov Three•and-a-Half per Cents.,
at 101 ex div.; the New Two-and-a-Half per Cents.,
794 ex div.; Bank Stock at 217; Exchequer Bills at
16s. to 19s. prem.; Exchequer Bonds at 1004 to 4,
being better; and India Bonds at 20s. to 245. prem.
Turkish Six per Cents., after declining to 103, are
now quoted 1034 to 4. The Four per Cents. are
lower, at 1054 to 106. Other foreign securities are
quiet, with less disposition to purchase. The bar
pins include Buenos Ayres Bonds at 87; Dutch
Two-and-a-Half per Contr., at 654 (exch. 128.);
Grenada Deferred at 74; Peruvian Four-and-a-Half
par Cents., for the 18th of July, at 81; Sardinian,
at 924 and 924; and Spanish New Defernd Three
per Cats., for the 16th of July, at 244 ex div.
Reports are still circalatd that a new loan of five
millions, intended to be applied toward' an improve •
meat of the Turkish currency system, may be ex-
pected later in the year.
Three vessels are now off the tout from Australia
—viz.: The Catherine Adamson and Europa, from
Sydney; and the Potentate, from Latinoestoo. The
quantity of gold brought by these vessels did not
transpire yesterday. The steamer Gertrude has
also arrived from Constantinople, with a large
quantity of sovereigns—reported to amount to
about 300,0001.... which were sent into inc Bank
yesterday. Further sums are expected from the same
quarter next week. The Arago has likewise brought
from New York, 30,0001. in specie for England, and
110,00 W. for Havre. The sum received per the Tay,
from the Brazils, is about 6,7701.
Oa the other hand the demand for gold for the
continent continues. Yesterday the 12,0001. brought
in by the City of Baltimore, :from Philadelphia, wul
taken for exportation. The Tamar has also sailed for
the Brazils with 121,0981. in specie on freight, con-
sisting chiefly of sovereigns, for Rio Janeiro. This '
shipment is occasioned by the scarcity of bills on the
Brazils.

The directors of the Australian Agricultural Com-
pany have issued a special report. A new superinten-
dent in Australia has been appointed, and a " oommit-
tee of advice " is to be constituted io Sydney.
It is also recommended that the number of
English directors be reduced from twelve to six,
and that the proceeds of the land sold be
distributed amongst the proprietors. For these
purposes an act of parliament will be required.
Shareholders in this and in the Peel River Company
have inibeeribed 7,9314 for the purpose of building
and endowing churches and schools on the two pro-
perties. From Mr. Odernheimer's reports it appears
that the coal formation is very extensive and valu-
able, but that the remunerative working of the coal
field is greatly Impeded by the difficulty and expense
of transport to a place of shipment. Mr. Oderu-
kaiser therefore moommends strongly the construc-
tion of a trammed for the whole length of the com-
pany's property at Port Stephens, and in immediate
connexion with the harbour.

Complaints are made by Mexican bondholders that
the committee am not sufficiently prompt in afford-
ing information es to the reason of the late suspension
of the reraittanoes from Mexico on dividend account.

The competition for the concession of the Pyrenean
Railways appears to be very spirited, thou subvention
of 26 millions of francs offered by the French govern-
ment, coupled with a guarantee of 4 per cent. mini-
mum dividend, being considered very tempting. We
understand that a number of English capitalists are
in the field, in conjunction with Messrs. Barrandi
and Co., of Paris.
The European and Australian Royal Mail Com-
pany, to whom hes recently been adjudged the mail
contract, announce that the first of their steam ships,
of 2,300 tons and 600 horse power, will leave South-
ampton in October next for Melbourne and Sydney,
via the Cape of Good Hope. The regular monthly
communication between England and Australia,
era Sues and Point de Galls, is to commence from
Australia in January, and from Southampton in
February next.
The direeton of the London and North-Western
Railway will receive tenders until the 16th instant,
for the construction of the railway from Crewe to
Wem,a distance of about 22 miles.

An'other auction of the foreign redeemable debt of
Spain is to take pleas at Ma6id on the 31st inst.,
foe which purpose 2,348,080 realm have been 'reigned
by the government. Tenders are to be received in
landau until the 21st inst.

The privation of the market for American securities
is thus noticed by Messrs. D. Bell, Soo, and Co.:
The market foe American securities continue active ;
Government sad State stocks have become scarce; and the
supply of the leading railroad bonds bat not been equal b
the demand. Prices have greatly improved.

nitIBIDAY BYZNING.

Although the settlement of the monthly account
indicates that the supply of stock is far from exces-
sive, and that the banking interest has made con-
idderable investments during the last month, the
funds to-day were, on the whole, a little Batter.
The dosing quotations of Consols were scarcely lower
than those of yesterday, but in the other departments
of the Stock Exchange some tendency towards de-
pension was observable. The Bank directors, at
their weekly meeting to-day, made no alteration in
the rate of discount, and this fact, coupled with
the knowledge that the next return of the Bank
will exhibit some decidedly unfavourable changes,
has induced speculative sales. The chief adverse
feature is the continued (Sax of gold, which is now
telling sensibly on the Bank's metallic stock. This
drain is the more deserving of watchful attention,
inasmuch as it is understood to be partly occasioned
by renewed purchases of gold in this market for so-
count of the Bank of France. On the other hand
must be borne in mind the steady supplies of gold
INf I I from various quarters. A considerable amount of

Australian gold is now off the coact ; a large arrival
of sovereigns has to-day taken place from Turkey,
and the remittances from the United States bid fair
to continue heavy. These supplies will, it is hoped,
go far towards meeting the Continental demand. It
is evident, however, that the sanguine feeling lately
prevailing has become moderated during the last few
days.
Money continues easy in all quarters, at a redue,
tion from the Bank rates. For today's settlement in
the Stock Exchange 4 per cent. was the current rate
for loans on stock.

ConsohropeTel, se they closed yesterday, at 94 to
1 ex div. for money, advanced to 961 to ;, declined,
on the breaking up of the Bank board, to 961 to a,
and were last quoted 961 to 1. For the new account
of the 7th of August the price opened at 96 to j, and
closed at 951 to 98. Owing to the steady 'temp.
tioo of stock ny the public. and by bankers, the
" oontango" has 'declined, at the conclusion of
the settlement, to 1 per omit. The Bank broker eon-
thanes a purchaser of stock, but, it is reported, not
for the Bank of England. The official business re-
port is as follows :—Three per Cent. Consols, for
money, 961, 1. 1,1, 1, ex div.; ditto, for account,
7th August, 981, 98 ex div. Three Cents. Re-
duced, 08, 981, 951. New Three per tests., 97, 971,
981. Long Annuities, expiring in January, 1880,
3 6.18. Thirty Years Annuities, April, 1886, 18,
181. Bank Block, 2181. India Stock, 2321,
234. Three-and-a Half per Cent. Exchequer Bonds
falling payable in 1868, 1001.
The new Two-and-a-Half per Cents. were also
dealt in at 791.
Exchequer Bills were a little flitter, at 18e. to 191.
prem. India Bonds remain steady, at 19s. to 22i.
prem., and Exchequir Bonds at 1001 to 1.
The scalp of tae new loan was last quoted 4
to 41 prem.
The foreign stock market was quiet, the change
in Woe beteg chiefly confined to a fall in Turkish.
The Biz per Cents. declined # per cent., on further