The Express.
London, England, 1853-10-05 00:00:00

MONEY MARKET.

• --
TCESDAT EVENTS°.
at of businten this morning the

At tho

Stcek Exchange was more disposed to at•ach credit
to the pasitice statements current in well-informed
quarters last night, that the Sultan of Turkey, yield-
ing to the generally expressed wish of the people,
and to the recommendation of the Grand

has declared war against Russia, which has so long
held armed possession of a portion of the Turkish
territory. The funds opened at a decline of upwards
of one per cent. from the closing price of yesterday,
and, telegraphic advices from Vienna tending
to cottirm this momentous pieco of news,
a :farther fall of ono per cent. was at
onetime establish( d. 'throughout the day the fall
was continuous, and the markets very unsettled;
and, although there was a slight rally late in the
afternoon, it appeared to be mainly due to the pur-
chases of previous speculative sellers, the market re-
maining depressed in character to the last, and
finally closing at a fall of 2 per cent. from the latest
official price of yesterday. In the other departments
of the house corresponding depression prevailed.
Considering the serious character of the fact upon
which the fall is founded, the decline is much less
than might have been anticipated, there being an
absence of any feeling of panic. It would appear,
however, that, in the absence of any qlli,ial
intimation of the declaration of war, many
parties cling to the hope that more de-
tailed de !patches will show the position of
affairs to be still susceptible of pacific arrange-
ment. The chief foundation of this hope seems to
rest upon the known inability of the Emperor of
Russia, from pecuniary considerations, to carry war
into a foreign country, unless by adopting measures
of the most pernicious character for the obtaining of
funds. It is thus earnestly believed by some parties
that the Czar will be only too ready to recede from
his pretensions, and avail himself of the known de-
sire of the other powers of Europe to avoid war.
Even adopting, however, this view of the Czar's forced
moderation, it remains to be seen if the decision of
the question has not now passed from him to the in-
dignant nation which he has so long bullied. On all
hands it is recognised that the crisis is imminent,
and in many quarters it is firmly believed that the
situation at present is already one of actual hostili-
ties. On the Paris bourse to-day there was a heavy
fall.

Consols opened 911 to 92, declined steadily tol
901, and were last quoted 91 to 911 for money and
the October. The market WU sensitive to the
close. Money stock was much wanted, owing to the
recent purchases by the public, the price having been
at one period of the day 1 to 1 higher for money
than for the account, and this scarcity has tended to
counteract the effect of the large sales for time. The
official business list is as follows:—Three per Cent.
Consols, for money, 911, 92, 911, 92, 911, 1, 91 ;
ditto fur account, 13th October, 914,, 4, 92, 911,
92, 911, 1, 91, 901, 911. Bank Stock, for account,
221, 222, 220.
Exchequer Bills were nominally quoted 13s. to Bs.
die., and India Bonds 10s. to 3s. die.
Foreign mere were generally quoted at a decline,
but rather from sympathy with the general tone of
the house than from any pressure of sales, stock being
by no means abundant in this department. Mexican
closed 11 per cent. lower than yesterday, whilst
Spanish Deferred fell per cent., and Peruvian Ito
2 per cent. Considering the aspect of politics, Rus-
sian stocks continue cognpamtieely steady. At four
o'clock Mexican Bonds were quoted 231 to 1; Spa-
nish Deferred, 211 to 1 ; the Committee's Certificates,
5 to 51 per cent. Peruvian Four-and-a-Half per
Cents., 69 to 71. Grenade Deferred, 71 to 81.
Peruvian Deferred, 48 to 30 ex div. The list of
sales includes : Brazilian Old Five per Cent. Bonds,
971 ex die.; ditto Four-and-a-Half per Cents.,lB32,
93. Dutch Two-and-a-Half per Cents., 62; ditto
Four per Cent. Certifs.' 92, 93, ex div. Equador
Bonds, 4', 41. French Four-and-a. Half per Cent.
Renter, 98f. (exchange, 23f. 13e.) Granada Deferred
Hondo, 8, 81. Mexican Three per Cents., 231, 23;
ditto for account, 14th Oct., 231. Peruvian Foul--
and-a-Half per Cents., 70, 69, 70. Portuguese Four
per Cents., 421. Russian Five per Cents., 112,111,
112 ; ditto, Four-and-a-Half per Cents., 97, 931,98;,
93, 931. Sardinian Five per Cents., 901, 911.
Spanish Old Three per Cents., 411 ; ditto New De-
ferred Three per Cents., 22' 211; Swedish Four per
Cent. Provincial Mortgage Loan, 92.
This being the 4th of the month, the discount
houses were extraordinarily busy. In Lombard-
_ .

erect we understand this his been a heavier day
than f;:_• years past. At the same time bills have
been uncommonly well met—a fact of gratifying
portance, as indicating the general stability of the
trade of the country. Notwithstanding the demand,
money has been in fuller supply, and discount of
really first-class paper seems to have been more
easily obtained at the Bank naininium rate of 5 per
cent.

Further large parcels of Australian gold were sent
into the Bank to-day.
The Alveston has arrived from Sydney, which
port she left in the beginning of June. It is not yet
known if she brings any gold.
' The amount of specie and bullion taken oat by the
royal mail steamer Solent is 87,387/. The major
part of this is in bar gold, and destined for Peru.
This vessel also takes out about 7,800/. worth of
jewellery.
The corn trade to-day was very unsettled, the
alarming character of the foreign news inducing
holders to ask extreme prices, or to decline selling
altogether, whilst buyers hesitated to pay the high
rates demanded. Should the warlike news be con-
firmed an excited market is expected.
The t ilow market was greatly excited by the
Turkish news, and after rising 2s. lid. per cwt. finally
closed at 58s. " sellers" for Russian for the last three
mouths of the year, showing a rise of 2s. since yes-
terday.
At the beginning of 'Change bills on most conti-
nental Vinces were in demand, including Hamburg
and Paris, but towards the clove the paper offering
was in excess of the supply, and hi some cases led to
rather higher quotations than those of last post.
Paris and Amsterdam were both rather higher. The
rates on Vienna and Trieste were decidedly higher,
being d)ne up to 11.18 to 11.20, and even higher late
in the alto-pion. This rise is indicative of political
anxiety. Paper on St. Petersburg ruled at 371 to Id.
The October dividends will be in course of pay-
ment to the public on Thursday, the 13th inst., and
the transfer books for the undermentioned annuities,
due the 10th inst., will be re-opened as follows, viz.,
Rink stock on Wednesday, the 19th inst.; Long
Annuities and annuities for terms of years on Wed-
nesday, the 19th inst.; Three-and-a-Quarter per
Cents. on Thursday, the 20th inst. ; and Reduced
Three per Cents. on Friday, the 21st. The transfer
books for South Sea Annuities will be re-opeucd on
Wednesday, the 19th inst.
Letters from Hull, of yesterday's date, from highly
respectable parties, give very unfavourable accounts
of the harvest. In the immediate neighbourhood of
Hull the deficiency in the grain crops is stated to be
30 to 40 per cent. In Holderness, a fine alluvial
tract of corn growing land, the yield is stated to be
some 25 per cent. below the average ; and in many
parts of Lincolnshire the deficiency is described as
still more serious, perhaps equal to 40 per cent. The
latest accounts of the potato disease in that part of
the country are also reported as worse than ever.
Land shares to-day were generally lower. Aus-
tralian Agricultural closed 31 to 33; and South Aus-
tralian Land, 32 to 34. The leading Australian bank
stocks were 11. per share lower. Crystal Palace
shares closed 14 to 11 prem. Peninsular and Oriental
Steam mark 69.