The Express.
London, England, 1865-10-13 00:00:00

MONEY MARKET,-(TEI8 DAY)•

Two o'Ckeow.
The stook markets to-day are rather flat,
an unfavourable effect having been produced
by the changes shown in the returns of
the Bank of England and Bank of France.
The funds, after declining k per cent., have reco-
vered to yesterday's closing quotations. Foreign
stocks are fractionally lower. Le regards most
other securities there is little change ; but specu-
lation for a rise seems to have received a fresh
check. The large arrivals of specie have attracted
little notice.
Owing to the payment of the dividends, the
supply of money ie larger to-day, while the demand
is moderate. Nevertheless, owing to the unfavcrar
able character of the Bank returns, the rate for the
best paper is 7 per oent. In the Stock Exchange
the amount of money seeking employment is very
large, and the rate for short loans on English govern-
meat securities is lower at 6 to 611 per cent.
The Bank of France return shows an increase of
1,208,0001. in the bills discounted, and a decrease
of 1,327,0001. in the coin and bullion, being very

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unfavourable changes.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Bailee opened at
871 r. 95c., being about the same as yesterday.
Consols are now quoted 88/ to 89 for money,
and 89/ to f for the account (Nov. 8.) The
official business report is as follows :—Three per
Cent. Consols, for money, NI, 4, 89 ; ditto,
for account, 894, 4 ; Three per Cents. Reduced,
864, 871 ; New Three per Cents., 87, 861, 871 ;
Annuities, 1885, laf ; India Five per Cent. stuck,
104 f, 105 ; ditto Bonds, 17s. !prem. ; and Exche-
quer Bills, June; 135., 19s. prem.
Most of the speculative foreign stocks, in-
cluding Greek, Spanish, Mexican, Turkish, and
Brazilian scrip, have declined Ito per cent.
Some of the present quotations are subjoined, viz. :
—Greek, 19f to 204 ; Turkish Consolidde, 484 to f ;
Spanish,Passive,24 to 291; ditto Certifiestes,l4l to
; Confederate, 6 to 7 ; and Mexican, 251 to I.
Transactions are recorded as follows :—Belgian,
Four-and-a-Half per Cents., 981 ; Danubian
Principalities, for account, 74 ; Dutch Cer-
tificates, 95, ex div. ; Egyptian, 941 ; ditto
1884, 91, ex div. ; ditto 1001. Bonds, 914,
1, ex div. ; Greek Coupons, for account, 7/ ;
Italian, 1865, 764, 4, ex &v. ; Mexican,
for account, 254. ; ditto 1864. 244 ; New
Granada, 141 ; ditto Two per Cents., 301; Portu-
guese, 1853, 463, 54 ; ditto, 1855, &c., for ac-
id count, 454, 6 ; Russian, 1822, 891 ; ditto
1862, 901, 1 ; Spanish New Deferred, for account,
381; ditto Passive, for moonlit, 291, 9 ; Turkish,
1868, for account, 71 ; ditto 1001. Bonds, 77 ; ditto
1882, for amount, 744 ; ditto 1001. Bonds, 741,
f ; ditto, 1865, 441 .; ditto, 1001. Bonds, 441 ;
Venezuela, 1862, for account, 371 ; ditto, 1864,
381, ex div.
United States 5-20 Bonds have declined 1 per
cent, the present quotation being 684 to 4. Erie
Railway shares are also flatter at 58/ to f, and
Ulinois at 834 to f.
International Financial shares are now quoted
If to f prem. ; General Credit, I/ to 2 prem. ;
London Financial, 711 to 4
it prem. ; Imperial
' Mercantile, 21 to prom. ; Cred Foncier and
Mobilise of England, 44 to 4 prem. ; Overend,
Gurney, and Company, 6to prem. ;and Hud-
son's Bay, 151 to 4.
The shares of the Merchants Company are quoted
to 1 prem. ; London and Australian cy,
Ito 14 prem. ; Transatlantic Steam, par to Age
re
Gale's Protected Gunpowder, 14 to 2 prem. ; and
se Allan's Transatlantic Telegraph, 11 to 2 prem.
The Atrato has arrived from the West Indies with
: 172,0001. in specie, and the Linc olnshire, from
Port Phillip, with 282,0001., making a total of

454,0001.
A further sum of 103,0001. in Australian gold,
being a portion of the remittance by the Essex, was
sentinto the Bank yesterday.
The Germania, from New York, has brought
38,0001. in specie for England.
The Stock Exchange Committee have ordered
the following securities to be officially quoted,
vin.;—Four per Cent. Debenture Stock of the
Loudon and St. Katharine Dock Company,
Tavistock Annuities of the South Devon Railway,
Scrip of the Bay of Havana aod Matanzas Railroad
Seven per Cent. Loan of 400,0001., Bonds of the
British Columbian Government Six per Cent. Loan
of 1886, and Bonds of the Ceylon Government Six
per Cent. Loan of 1885.
The interim dividend of the Oriental Bank, to be
declared on the 19th inst., is, we understand, to be
at the rate of 10 per cent. per annum for the half-
year endiug the 30th June Let
The prospectus of the issue of 120,000 preference
shares of 51. each of the Atlantic Telegraph Com-
pany has made its appearance. These shares
are to be entitled to a Arst preferential dividend of
12 per cent, per annum in priority over all the other
capital of the company, and to an equal participa-
tion pro rats in all other dividends or bonuses after
payment of 8 per cent. to the second preference and
4 per cent. to the old stock. One pound per share
is payable on application, and thirty shillings per
share on allotment. Priority in the allotment to
the extent of one-half of theses hares will be given
to present shareholders app.! yng for them on or
before Thursday, the 28th inst. The directors re-
peat their conviction that the enterprise, "though
postponed for this year, is yet on the eve of success."
A new contract has been made with the Telegraph
Construction and Maintenance Company, the main
provisions of which are described as follows :
Under this contract the Telegraph Construction and
Maintename Company, is oonsideration of the sum of
600,0004 which has bees agreed on es the coot pries of the
embh if paid for is sash, We already commenced the
manufacture of a new cable, to be laid down during 1866,
between Ireland and Newlemadland. The contractore„ if
the said cable be enceemfal—hat nes otherwiee--ere to have
ie shares aad cash proit at the rate a 210 per cent. upon
the met The motivators aim undertake during 1886,
without any further Ovate whatever, to to_ ma with
eullisient aside, istiedise that Dow left on beard the Cheat
lissewas, awl all proper spoliasess sod apps ate such as
experienee bas shown to be seneseary, and to um their
bent swimmerets—in the mow of which they express
entire belief—to recover, repair, and oompiess in worsts/
order between Ireland end Newforistilsnd the regret
brain sable, which bee bean seraweiated by regent careful
electrical taste to be is perfect order throughout its entire
keg*. It will be emu *at circumstances have then
enabled the board to effect a very considerable sconomy in
the eompear's present opmetiot* far in the event of WIC•
ewe l emesay will be in possession of two effarieet cables
far • weenirlesably less want than would have been ex.
pooled if the cable of this year had boas seensdaly
'mei wetbee bad hese psithseed separately.
The Lancashire and Yorkshire Railway traffic
return shows this week an increase of 4,5271. over
last year ; the North Eastern an increase of 4,577/;
the Manchester, Sheffield, and Lincolnshire an in•
lerease of 1,1551. ; the London, Chatham, and Dover,
including the Metropolitan Extension and branches,
an increase of 1,95111. ; the Metropolitan Extension
an increase of 8501. ; ea the Kent Coast an In-
cease of of 6001.
The general meetin of the Discount Oocperation I
will be held on Friday the 27th
A general meeting of the Royal Portuguese Rail-
way Company is convened for the 14th December,
at Lisbon.
Messrs. Thomson, Bow, and Co. have an-
nounced the dividend due the Ist November on the
Russian Three per Cent. Loon.
Advioea from Amer* show that the reconstruc-
tion of the railroads in the Southern States in in
peeve regimes.
Subjoined is Mews. Onlverwell, Brooks, and
Co.'s report of yeetairday's bide sales :
At the atectosega seeks ad bide sales ter theyetw
wawa large atsseiser bop* sited deunilAws eve-

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