The Express.
London, England, 1856-10-07 00:00:00

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MONEY MARIEZ-THIS DAT

Two o'Ctocz.

The funds experienced a fresh fall of about
per cent. this morning; but this reduction
induced large purchases, both for malt and
the account, and a rally his taken place. Prices are
now quoted i per cent. higher than they domed yes-
terday. Consols, for mossy, after declining to 901,
"milers; have rallied to NI to I. The "Contango"
to the Eth of November, is as much as f to 3 per
cent. Exchequer Bonds are marked 98* to 99; and
Exchequer Bill be. to 9s. prem.

Turkish Six pee Cents.- have fluctuated violently
between 98/ and 98, and are now quoted 971 to I.
The Guaranteed Four per Cents. are again lower,
being marked 991, 994, and 981. Other foreign
securities are generally flat. The sales comprise
Mexican Bonds at 22 for the 17th October; Peru-
vian Four•and a-Half per Cents. for account, at 781;
IRuesian Five per Cents. at 108; ditto Foar-and-a-
llialf per Cents. at 984; Sardinian, for account, at
891 and 90; Spanish Old Three per Cents. at 401
for account; ditto, New Deferred Three per Cents.
at 24.

The rates of discount fixed yesterday by the Bank
of England were the rates current during last
autumn and winter, when the war was raging, and
when the drain of specie was excessive. The
return to then high rates proves how inti-
mately the English market in affected 'by the
movement of monetary affairs upon the Continent. It
cannot be too earnestly impressed upon the public
mind that the stringent measures now enforced by
the Bank are adopted, not in consequence of any
undue speculative movement here, but simply as a
protection against the rise which has taken place in
the value of money on the Continent, and which, un-
less thus oorreoted, would inevitably have drawn gold
in vut masses from this side. This view obtains each
universal acceptation, that, rigid though the Bank po-
lio', is, the general feeling is oneof decided satisfaction,

it being believed that the most effectual means have
now been adopted for checking the drain to the Con-
tinent. Whatever regret may be felt at the incon-
venience which the natation upon long.dated paper
will occasion in several important branches of beti-
mes, it is considered that the Bank had no alternative
but to act as it has done, if it wished to really
discourage the attempts of Continental money
dealers to supply themselves in this market.
The public+ will now await with confidence
the effects of then measure., which, there
is every reason to hope, will prove sale.
tart'. The Bank of France is still moving in the same
direction, having announced that it will not discount
bills having more than 80 days to ran. Were it not
for the thoroughly unsound position of monetary
affairs in Franos, these wholesome step. of the French
Back would be regarded with unmixed satisfaction;
but, although it is gratifying to witness a return on
the part of its conductors to sounder banking prin-
ciple', the crisis upon the Bourse will, we tear, be
greatly aggravated.
The ascertained withdrawals of gold from the
Bank yesterday on continental account represent a
total of 70,0001.
Of the 165,0001. in specie brought in by the
Arabia from New York, 61,4001. was on French
account. The residue was yesterday purchased for the
Continent. The specie ex the Magdalena, from the
West Indies, was delivered yesterday, and the gold
was taken for exportation.
The corn market yesterday was firma, and a rise of
Is. to Is. per quarter over last Monday's rates was
established for wheat in good condition. The arrive/a
of foreign grain in London are large. Bioce last
Friday 20 floating eargoes of grain have arrived at
port dealt, via., nine of wheat, nine of Indian corn,
and two of barley. The cargoes of wheat have met
with a very keen competition, and realised an advance
of Is. to 2.. per quarter. Most of the country mar-
kets held at the close of last week were firm.

At Paris great fluctuations continue to take platy
in the shares of the Credit Mobilier Society. This
is not surprising, considering how deeply the com-
pany is engaged in joint stook undertakings, upon,
many of which calls will continue to acorns, how-
ever tight the money market may be.
The directors of the Royal Mail Steam Packet
Company have issued a circular to their share-
holders, relative to the proposed establishment of a
line of mail steam packets between Australia and
Panama. To raise the necessary capital of 400,0001.,
it is proposed to issue new shares of 201. each, to be
offered pro rata to the existing shareholders, and to
obtain the balance by means of loans on debenture.
The Royal Mail Steam Packet Company have re-
ceived information of the loss of their steamer Tay,
while upon her voyage from St. Thomas's to the
Gulf of Malice. The telegraphic dispatch is dated
New York, the 24th September, and was received at
Halifax (Nova Scotia) on the 26th. It describes the
vessel as a total wreck. The event took place thrie
miles south of Cape Hoke. Only two person, were
drowned, named respectively John Jeff and Alfred
Mills; the rest of the crew and passengers were all
well. The mails were saved, but 600 bottles of
quicksilver, representing a considerable value, were
lost. The Tay, which was one of the oldest of the
Company's vessels, was originally of about 1,700 tons
burden, but has been lately lengthened to 2,022 tons.
Her engines were nominally of 430 horse power.
The actual lass to the Company, who are their own
insurers, is estimated in some quarters at under
26,0001.
The newly established Yereins-Bank of Hamburg
hes published a balance-sheet, extending to the let
inst. The particulars are as follows, in English
money :
Dr.—Bills on Herebarg discounted, 167,7071. ; foreiga
huts, 1,6001.; basso ad cub, 72,1621.; espeases eceount,
1061. ; —total, 231,6651.
Cr.—Paid on Ana 10 per cent., 160,0001.; balances of
monied arcuate, 79,2301.; interest accent, 2,336/. ;
Petal, 231,6661.
The amalloess of the sum set forth as preliminary
expenses is highly creditable to the founders of the
bank, and constitute. a feature which we should be
glad to see adopted by English companies. The
Bank is to publish a statement of accounts every
month. _ _ _ _ -

The prospectus of the Australian Land and Emi-
gration Company (Limited) is issued. This company
proposes to raise a capital of 100,00 W. in 101. shares,
with a view " tp facilitate emigration to the Australian
colonies, to buy fertile tracts of land, and to let the
same to emigrants, who shall be 'elected as in every
respect qushfied for the purpose of colonising and
improving the land." It is mentioned that the pro-
moters of the enterprise have already sent out to
Australia many thousand German emigrants, who
are now employed there in various capacities.
Preliminary to the issue of share certificates in the
Lordon Discount Company, the shareholders are
required to forthwith sign the articles of association,
under the Limited Liability Act.
The half-yearly meeting of the Great Indian
Peninsula Railway Company is called for the 27th
instant. . _ _ _

The adjourned (general meeting of shareholders
of the Mitch Rhenish Railway is called for the 21st
inst., at Amsterdam, "in order to carry out Noe. 8
and 12 of the resolutions passed at the meeting of the
30th of June last, and to approve of the construction
of a short junction for facilitating the traffic between
Amsterdam and Rotterdam."

MONDAY ETININO
disoonot houses, wbich on

Wednesday last raised the rate allowed for money
"on call' from st to 41 per cent., to day further ad.
vaned it to 6 per cent. The joint stock banks have
also raised the rats for money on deposit from 4 to 6
per cent. Considering the soundness of commercial
affairs here, there is every reason to believe that the
high rate of 6 per oast. will bring forward a good
supply of money for employment in commercial
channels.
The immediate result of the Bank movement has
been a further decided fall throughout the Stock