The Express.
London, England, 1865-10-07 00:00:00

MONEY MARICHT,-(T818 DAY).

PUSH RISK IN THZ
UCOUNT.BANK RATE OF
D

Two o'Czoon.
The directors of the Bank of England have to-day
raised the rate of discount from 6 per
cent., at which it was fixed last Thursday,
to 7 per cent. This fresh upward move-
ment was anticipated, owing chiefly to the
unfavourable position of the accounts of the Bank.
1 The extent of the demand to-day for discounts at
I that establishment, combined with a large with-
drawal of sovereigns for Brazil, has also doubtless
contributed towards the advance.
The advance in the rate having been expected,
the reduction in the stock markets is not very im-
portant. Consols are steady, at the closing
I quotations of yesterday, and the decline in
L ' British railway securities is confined to three or
four descriptions. Foreign stocks exhibit most de-
, pression, and have receded 4to 4 per cent. in some
- instances.
The demand for money in the general market is
rather strong, and the lowest rate is 7 per cent.
In the Stock Exchange short loans on English go-
veniment securities are obtainable at 51 to ti per
cent.
The discount establishments now allow 5 per
cent, for money at call, 51 at seven days' notice,
and 6at fourteen days' notice. The joint stock
banks now give 5 per cent. for money on deposit.
The London and Westminster Bank allow only 4
per cent. for sums below 5001.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Routes opened at
67fr. 77c., showing a further fall of 4 per cent.
Consols are now quoted 884 to 1, both for
money and next Tuesday's settlement, and 881, for
the new account (November 8). The official busi-
ness report is as follows —Three per Cent.
Consols, for money, 884, 1,4, 4 ; ditto for
account, 881, 4,4, 4 ; Three per Cents. Reduced,
861, 4 ; New Three per Cents., 861, i ; India
Five per Cent. Stock, 104/, 1; ditto Bonds,
195., 24a. prem. ; and Exchequer Bills, ifs,, I,
141 4s. die.
The foreign stock market is flat, and a
decline, varying from 4 to 1 per cent.,
has taken place in several of the specula-
ei Live descriptions, including Greek, Spanish
Passive and Certificates, Mexican, and Brazi-
lian scrip. The latter is quoted 24 to 1 prem.
I Some of the present quotations are subjoined, viz.:
—Greek, 191 to 20 ; Turkish Consolidds, 471 to 48 ;
i 1 Spanish Passive, 284 to 4 ; ditto Certificates, 144 to
4 ;Confederate, 6 to 7 ; and Mexican, 24/ to 251.
Transactions are recorded as follows :—Brazi-
-6 lisn, 1852, 1858, and 1860, 71, 70, 72 ; ditto 1863,
68, ex div. ; Dutch, 611 ; Egyptian, 941 ; ,
ditto 1864, 901, 4, ex div. ; ditto 1001. Bonds,
914, ex div. ; Greek Coupons, for account, 71;1
Mexican, for account, 254, 4, 5 ; ditto, 1864,
211 ; Moorish, 96 ; Russian, 1822, 89, i ; ditto
1862, 91 ; Spanish Passive, for account, 281, 4 ;
I the Committee's Certificates, for account, 144, 4 ;
Turkish, 1858, for account, 71 ; ditto 1862,
for account, 734, 4 ; ditto 1001. Bonds, 74, 4.
American securities are lower. United States
1
520 bonds are now quoted 681 to 691 ; Erie Rail-
way shares, 59 to 4 ; Illinois, ea tol.
International Financial shares are now quoted
1 to 4 prem. ; General Credit, 1„ to 1 prem.;
id London Financial, 74 to 4 pre. ; Imperial
Mercantile, 11 to 2 prem. ; Credimt Fourier and
Mobilier of England, 4 5-16 to 7-16 prem, Over-
end, Gurney, and Company, 51 to 6p. and
Hudson's liay, 151 to 4.
HALF-PAST Two O'CLOCK.
Consols are quoted 884 to 4 for money, and 881
for the account, showing no alteration.
We are requested to state that the obligations of
the General Debt at 5 per cent of the Ottoman
Empire are passing through the press, and are being
verified as quickly as possible ; and that the
despatch of the obligations to the different centres
of conversion will commence next week.
About 15,0001. in gold was sent into the Bank
yesterday ; no withdrawals were reported.
The rise in the value of money here has at last
given an impulse to the foreignexchanges, which yes-
terday afternoon were quoted better for this country.
The advance was especially observable as regards
short drafts on Holland. The supply of bills was
not large, but buyers were very cautious. Sub- I
joined is the list :
Amsterdam, short, 11.181 to 191 ; 3 mouths, 12.2 1
to i ; Rotterdam 8 1000140. 12.2 to 1; Antwerp, P
mown& 25.60 to 65 ; Hamburg, 3 mouths, 13.10 to 1 ;
Paris, short, 15.221 to 30; ditto, 3 mouths, 2%115 to 60;
Fixation-as.-therldoms. S mouths, 1211 to 1 ; Petersham.
3 months, 291 to 1 •, Fiance. 3 moats, ill7l to 221;
Trieste, 3 months, ILI7I to 221 • Madrid. S intelhor
471 to 1; Dad* 3 months, 471 to f•. Leghorn. 3 months.
25.671 to 721 ; Milan. 3 months, 26.671 to 721 ; Goma,
3 months, 25.671 to 72{ ; Naples, 3 months. 25.671 to
721; Palermo, I months. 25.671 to 721 ; Mamas. S
mouths, 25.671 to 721; Lisbon, 90 days, 541 to 1; Oporto,
90 days, 511 to 1,
The Bank of Holland has raised its rate of
discount from 31 to 4 per cent. At Vienna,
Hamburg? Berlin, and St. Petersburg, the rate of
discount in the open market is G per cent., being
the same as that current here ; Turin, 54 ; Brussels,
5 ; Frankfurt, 41 ; Paris, 4 ; and Amsterdam, 3
per cent.
The weekly return of the Bank of France shows
the following changes:
Coin and bullion Decrease 42370,000
Bills demented lamas, 2,768,600
Goveramest De
Decreame 2,016.000
Notes is anecdotic@ lsmael; 1,936,000
Private Deposits
Advances
These changes are very importaut. A very large
amount of bills always fall due in France at the end
of September, but upon the present occaaion the
increase iu the discounts is much above the average.
The French Bank is at the same time parting with
gold rather faster than our Bank.
The Caledonian Railway traffic return shows this
week an increase of 1,3831. over last year.
The prospectus of she Merchants' Company
(Limited) is issued, with a proposed capital of
500,0001., of which 250.0001. is to be first issued in
10,000 shares of 251. each. The object in the first
instance is to take over the business of Messrs.
Lane, lisakey, and Co., one of the firms comprised
in the combination formed some months ago sneer
the name of the London Merchants' Company,
and now creditably wound-no. The purchase
money of the goodwill of the business is 25,0001.
in debenture!, payable one-fifth annually, with 5
per cent interest, and 2,500 shares, with 151. each
credited as paid thereon. The directors state, that
in fixing the amount they "have taken into con-
COVENT GARDEN.—(THIS
eideration the profits of the firm during the last six D. AY.).
Both vogstsblos sad fruit are sow .applied co abunessos.
years, the present prospects of the business, and
importations of foreign goods ere chiefly conised to grol e,.
the manner in which payment for the goodwill has I Amon 1/4191,9,0,111 pow on goo samples of isane
been accepted." Attached to the prospectus is a Louis., Gores 11.reismot, Dsehreire *V nairouirmie. and
certificate from Messrs. Coleman, 'Turquand, Brews Bean& The swelel
sraise-seples has sow.
Youngs, and Co. The vendors guarante a minimum , tidornba7 tittPloolta• Ert_50•122..... bode at Mat MI.
Wm h as servid&.
dividend of 10 per cent. per annum, during three ' tp0.r.1,...,,,. =„ster=. ....it a
years, on the paid-up capital. Mr. David Ward ' boggy „,i',,,,,id„0., peiptgas, sizips. erg ast... enDlerraisi:
Chapman is chairman, and the partners in the firm FRUIT.
of Lane, Hankey, and Co. have seats at the board. Ime wow pea lb_ a, to a warms, pff rest is rota
The following is the report of the directors of , Break Pee 112., le CA ee SS (ter. per let Site lee
I Tseshos, per data, 4s toes Nets, cob, e% MOW sr arise
the Ottoman Financial Association (Limited) to beI Finns, per FL, 9., 9,1 90 99 04
,-... w. 4 i„,,,
two
jo,
submitted at the meeting on Tuesday next : apple, per mere, ts od to to Shooed*, do., Ids to Ws
The Modem is their first report to the shareholders 1 ♦reare' Per dere' 2a 64 te " ed
submitted the accounts of the meociation to the 31st 1 111013LIJIM
December, UM, proposiag that the flosuoial year should ; C.:abhors. perdos .Islalso ce!‘i .....c.gc.ni
.‘r
each. ~d
add
beadle Is to la be
terminate an the 30th June is inch yror. sad they, there- I r bapLade. piss
% Hoek r. Mx- Is 64 to Is
fore, DOW tartish the proprietors with the balsam sheet , p„,,,,, pee
offea si to 48 MAW, pie Is., ad
as at the 30th Jas., 1865, together with the prof? and p000toes„
asst Itsessilt re aartio. pet Ts.. 34
Tared.tiest for the six mamba to that date, both day too, Ms to toes zameess. gee "3..13"
3aditw Shwa the general niartieg„ tot aerie 28th ~ Races, do., nu toes. motes ler
dts.ls. 21.11ser
February last, the directors bate added to the beard pestle- •• 11.•=.1. riatiOolui por a p. beech, Weds
mos of high orimmerelal otendieg sad isitancee; and Pur- " we, illodueseNto•Pent• Is 33 le"
susat to intentions expressed, they appoisted a postal WM,. per *sack ed to ed Parder, per des. boa., Is lots
manager in London, bat the result sot Whig in accord- Term" ger brach, ad to ed Ueda, per bum* di

FIIIIAT SMOG.
Console, which closed yesterday at 889 to 89,
both for inwiey and next Tuesday's settletient,
opened this morning at 884 to 9, and bad fallen at
the extreme close of the market to 889_to 9. For
the Bth November the last price was
889 "sellere."
The official business report is as follows :
Thine per Cent. Consols, for money, 869, 9, 9 ;
ditto for account, 889, 9 ; Three per Center lie-
duced, 869 ; New Three per Cents., 84, 4 ;
India Five per Cent. Stock, 1051, 1044.
Indian government securities showed a drodping
tendency. The state of the money market, has
caused a fresh decline of about 2s. in Exchet;cer
Bills, which closed at 9s. to 4s. die.
Foreign stocks showed great heaviness. Brazi-
lian Four-and-a-Half per Cents. of 1883, the
Maremmana Railway Loan, and Turkish Clouse-
Bike fell 1 per cent. ; Russian Bonds of 1850, 19
to 2 ; Mexican, ,4 ; and Turkish of 1858, 3 ; but
as regards most other descriptions the decline t:id
not emceed 3to 9 per omit. In Greek Bonds and
Spanish Certificates it was only about 9.
United States 5.20 Roods closed to-day at 69 to
9, being steady ; Erie Railway shares at 509 to
609, being lower ; Illinois Central at 834 to 84,
being 9 lower ; and Atlantic and Great IVextern
Railway Debentures at 874 to 889.
The shares of the financial companies were
heavy, end experienced a general reduction of
2s. 6d. to se. London and Financial fell 7e. 6d.
The closing quotations were as follows :—lnter-
national Financial, 19 to 11 prem. ; °nerd
Credit, 19 to 19 prem. ; London Financial, 79 to
8 prem. ; Imperial Mercantile Credit, If to 2
prem. ; Credit Foncier and Mobilier, 49 to prem.
National Discount shares were last quoted 104
to prem. ; Joint Stock Dirsount, 19 to 19 ilia.;
Egyptian Trading, 19 to 1 dia.; Ottoman gociiStei
Goinerale, 29 to 39 prem. ; Hudson's Bay, 159 to
9, showing a relapse of 10e. ; Lion Brewery, 19 to
14 mem. ; and Atlantic Telegraph Preferences II
toll.
Bonk shares were dull. A reduction, but net to
any important extent, took place in Bank of British
Columbia, Imperial Ottoman, and English and
Swedish Bank.
International Land Credit, Ocean Marine Insur-
ance, Royal Mail Steam, and uth Australis Land
shares, have declined. South Anstialil. Land
shares, have declined. Millwsll Iron Works met
with some inquiry. The shares of Overend, Gur-
ney, and Co. closed at 59 to 69 prem., being 76. 6d.
lower than yesterday.
The closing (but in some cases nominal) quota-
tions for shares in new undertakings are as follows :
—Trans-Atlantic Steam, par to I preen. ; London
and Australian Agency, to 19 prem. ; Allan's
Trans-Atlantic Telegraph, 19 to 2k prem.; and
Gale's Protected Gunpowder, 29 to 39 prem.
Canada, New Brunswick, and Victoria Govern-
ment Debentures showed heaviness.