The Express.
London, England, 1847-08-12 00:00:00

MONEY MARKET.

WEDNESDAY EN/ININO.
Notwithstanding the confirmation of three more
large failures in the corn trade this morning, and
sinister rumours of more threatening embarrassments
in the same and another commercial interest, the
funds have considerably improved to-day. Consols
opened 1 better than the last quotations of yesterday,
and with slight reactions continued to advance to the
close of business, when they were marked 87,1 to 2
for money, and 87' to 3 for account, having been
actually done 2 higher. The rise was said to be
partly owing to some of the larger operators for the
WI buying in their accounts- A report was afloat
too that the Bank was or had been lending upon
stock, which under present circumstances would seem
scarcely credible. Money was easy in the Stock Ex-
change, and was said to be more easy also in the dis-
count market, notwithstanding theincrease in the
rates demanded. Reduced Threes were 872 to 2.
Three-and-a-Quarter per Cents., 89,1- to 1. Long An-
nuities, 9 1-16 to k. Exchequer Bills par to 4s. pre-
mium. Bank Stock, 193 to 7.

Attention was directed as little as usual to foreign
stocks, in which few bargains took place. Dutch
Two-and-a-Half per Cents. were called 561 to ; the
Fours, 891 to 1. A parcel of Three per Cent. French
Benter aas done at 76f. 25c., at exchange 25E 50e.
Spanish Fives were quoted 201 to 1 ; the f hrees, 301
to 1. Portuguese, 2t to 31. Mexican, 171 to 181.
Brazilian, 84 to 8.
The further failures in the corn trade adverted to,
and known to be impending yesterday, were publicly
reported to-day. The amount of liabilities in the
largest case, of Messrs. Coventry and Shepherd, was
stated at 300,000 E; that of Messrs. King and Mel-
ville at 180,0001. ; and in a third case, 120,0001.
The most extensive of the three houses, as measured
by the sum of failure, was blown upon by rumour
several days since; but was kept afloat in hopes of
weathering the storm by the assistance of wealthy
connexions, which, however, on examination of its
gain, failed it at the last.
Doubts are expressed in some quarters about the
Bank's minimum rate of discount being raised to-
morrow. If, however, there be any truth in the
assumption of a writer in the Croniele, some days
since, that in dealing with the value of money the
Bank must be ruled by, and follow in the wake Of, the
state of the general money market, then, as of course,
to-morrow should appear the usual notification of a
rise. For in the open market the rate of seven per
cent. may now be considered as established for paper
with more than two months to ran. The assump-
tion, however, that the movements of the Bank are
so governed is, as • general rule, altogether falla-
cious. Even in the instance of the official advance
last week to Si per cent. the Bank was ahead of the
market. The banks and discount houses were selling
---"nation fractionally rather below than at the
institution.

Poe A—..
PARIS, Av.*. 7.,
Mow. 1 Opoolag. Mob., I Lwow. CI .e.
3 per Ont. . . 74 141 54 44 71154 74 10 71 to
6 D. . . . 117 II 117 PO 117 91 117 711 117 10
„
•
4 Do. . . . 105 TS s. .
..
6 Do. . . 101 40 - ..
Ibelwage Go U.N. (6470, 10 SO. .
N.M. ory.
Dalsionk 5, DO ...014 ' Woploa Mateo . . .D 1 $0
Da. 4,1412 . . . 160 - Mamas Lau . . .
D. 3 743.,,.7ewry Ikea . .110116.
D. 4 . . . . ..
Dooms., Aro. 0.-17,41..i0n, 1040, 1211 t Do. 1542, D., Do. 1911,
17, De. of the Clty, 1913, 07. Doak of Delgtmoo, 911, Do. lone, 1041,
109. Parbwe es 13.44., 21 174.
kortesar. Aeo. 11.-1120.40 44 Lwado., 23.4 674.
Alleezzoom, Ago. 2.—Deteo Am Debt, Two-0.4.-Holf -pm Owe.,
571 money, 664 tll, Thom per Owns., 44 atomor, 70 bale: boor
per 0tat4..454 n0mer,91461114, Avow. Syne., Poor .N..-11.51 per Crow,
574 wary. 471 bells; Co.ms Comp.. F00r....1ta1l per Dot., 01,11
~7, 170 6111.2.0* 1.44 1.44, 464 63. tzebsageo• Loadoe,ll 07
tow bowl., 114. 344.0001,01.00; two notetbs, 34.11. Purls, 5667 , two
•16611t0, KM. _

it;;;4.Aro. 3 —Monism Five p. Orars 1041 ; Tom pm Cml4.,
TM. ymit Ora, MN. Two-..d-a-lialf Cats, 141 Lou, 1534,
DSC Do. 15311.1234 ; 15444 k I. IPA