The Express.
London, England, 1856-12-04 00:00:00

REDUCTION OF THE BANK RATE OF

DISCOUNT.

Two OlXoom.

The directors of the Bank of England bate to-day
raised &sir Wais= rate of discount from
7to 61 per mt. The step has occasioned no im-
portant dwell= in efts stook markets, but great
firmness prevails in all quarters. The thuds show a
fresh avows of percent. _ _

Coosols are flr-ra, at 94e to f for money, and 951,
"buyers," for the Bth of January. The Three par
Cents. Reduced hare been dealt in at 914 to f ; the
New Three per Cents., at 931 to ; Bank
Stock at 218 to 217; Exchequer Bills at ss. to Bs.
prem.; Exchequer Bonds at 981 to i; and
India Bonds at Is. to 2s. prem.

Turkish Six per Couto: have advanced to 901 to

f i and the Clo;ranteed Four per Cants. to 1021 to 1.
Other foreign stocks remain quiet but firm. Monks
Meade Belgian Fourandm.half per Cents. at 27
(exeb. 28fr.) i Batch Two.and-a.half per Cents. at 68

sod 65e (exeli. 12t1); Russian Five par Crate. at
1071; Russian Foor-and•aHalf per Cents. at 96k;
sad Bardiaisa at 881 as di,.

The opinion. expressed in some quarters
that, although a large outstanding speculation for
higher prioes has gradually accumulated in seve-
ral departments of the market, the majority of
the Stook Exchange dealers have sold more stook
than they are possessed of. As usual, the expected
Improvement in the money market L now being
"discounted," both here and in Paris.
The steamer Caledonia has arrived in the river
from Hamburg with about 28,0001. worth of bar
silver on freight. This supply was intended for
trassmission to the East by the Ripon, but it arrives
too late for that vessel. .

Is payment for the large amounts of silver lately
drawn from the Continent, about 40,0001. in gold was
yesterday taken from the Bank for exportation. The
probability of some withdrawals for this object has
already been indicated in the llepross.
The exact amount of 'pais and bullion shipped on
board the Ripe, which is to leave Southampton
far Almond& today, Is 807,2611.. of which
8,6204 is in gold and the remaining 798,6311. in sil-
ver. The sem destined for China, which by the sail'
oldie 4th of November amounted to 234,2061., is
ow only 168,0011., owing to the decline in the
Chinese exchanges reported by the last mail. Upon
the other hand, the remittanoss of silver to Bombay
represent an enormous sum. The pertieolare are
subjoined, via.: for Alexandria, gold, 2,0001. ; for
Bombay, 5i1ver,448,7061. ; for Ceylon, gold, 3,2001. ;
for Nedra, gold, 2,4201., and silver, 10,0001. ; for
Calcutta, silver, 167.334 L ; fer Singapore, silver,
24,6914, and gold, 1,0001.; for Hong-Kong, silver,
62,7981.; for Canton, silver, 30,6921.; and for Shang-
ha*, silver, 64,6111.

The subjoined statement shows the total remit-
tances by each of the lest six steamers leaving on the
4th of the month,

July 4. per Belies £410,122
Avocet 4, per Am
September 4, per loam 684.301
October 4, per Pere 778.763
November 4. per Cradle
December 4, per &pot 807,261

The steamer Ls Plata his taken oat 66,6021. in
spade to the West Indies, besides jewellery seised at
9,0001. The Rouble has brought in about 13,0004.
from the Nokomis.
_

The Bast India Company has announced a re-
daction of id. per rape! in the rats at which they
will receive cash for their bills on ladle. The rats m
now fixed until further notice et Is. per rope for
bills on Hugel and Madras, and 2s. Old. on
Bombay.
The rats of discount at Hamburg is at present 61
per cent. The stock of silver in the Bank of Ham-
burg has somewhat increased of late, owing to the
mead= of the recent heavy remittances to Rugs.
Qualities of silver, however, continue to flow from
Hamburg iota the Interior of Germany, in addition
to the some seat to Ragland.
The telegraph reports the failure of Messrs. Mel-
ling and Land, of Copenhagen. This firm was largely
eggaged in the corn trade, and wag otherwise com-
mitted to extensive speculative engagements. The
liabilities are estimated at about 100,000 marks
bum. or
say 160.0001. The lose is expected to fall
upon houses in Hamburg and Glasgow, and in the
interior of Denmark.

The eon market yesterday was firm, at last Mon-
day's rates. The arrivals of foreign wheat and oats in
London since Monday have again been large. As
regards floating cargoes, sixteen grain laden vessels
have arrived off the meat sines last Friday, and most
of thee* supplies remit: on male. Business in this
branch of the market was to day inactive. Most of
the eoantq core markets held yesterday were rather
higher. The French markets, on the otha hand, are
generally reported rather lower.
Telegraphic &delete received, dated Bt. Peters-
barge Dec. 2, mention that the total number of
sailing vomits now detained in the ice is 389, besides
8 steamers.

Secs ;Last hes bees melted by the statement
that M. Was and other Peewit capitalists
to usdertake a new Speed& loan of come
three
millioes sterling. To understand the nature of the
timmesdes. feller dotage are required; bat in an
OM es Leman market moot be elected, our stook
Izahengs Wog Assad spinet all new Spanish
eseneldss intil the goverment shall have satisfied
the &es at the parties holding the certificate for
the ~due amps's..
Pseud settee is gives that Vies-Chancellor Kin-
beds, pewees to premed ea the 17th instant to
Net,. the Yet of contributories of the Royal British
Bask.

TITa half-yearly meeting of tho St. Katherine
Dock Company is to be held on the 20th of January.
The accounts are to be ready for inspection on the
lidt of Jemmy.
A all of 4i. per share is to be paid on the new
shares of the National Discount Company by the Ist
of Jaasary.
The half. ly interest Is advertised on Plateaus
and Sa la Railroad Seven per Cent. Bonds.

WSDNISDAT Evzsguis.

Although there is as yet no relief in the money
market, all the Stock Exchange markets continue to
advance. It is usual, when speculative parchaere
have been freely proescuted, for the settlement to
induce temporarily some weakness in Consols, bet
the muse has been witnessed today, the funds
aiming per tent higher than yesterday. After the
regular hours a farther advance of k per seat. was
quoted. English railway shares show a fresh im-
provement ; French shares were extraordinarily
buoyant, although the usual telegraphic despatches
from the Paris Bourse did not come to hand
natil after business hours ; Tartish Six per Gots.
roes 1 per seat. ; and tie upward tendency extended
to the shares of several other foreign railways, as
well as to those of the new banks. All the Stook
Exchange markets closed with a strong appearance at
the highest point of the day.
In the Stork Rxeltange today, in connexion with
the Mosel settlemeat, which is fixed for tomorrow,
money was in good demand at to 7 per sent for
short loans on Consols, bat at those rates there was a
fair @apply of money on offer. Lithe discount market
the preparations for tomorrow (the 46) have also
led to an active demand, at rates fully equal to those
of the Bask. It is hoped, however, that the market
will berme easier as soon as the heavy liabilities
maturing to-morrow shall have been met

Commis, which closed yesterday at 94i to for
mosey sod tereaorrow's settlement,opsoed this mew-
ing at the saes 'potato'', and moodily advanced,
dosing at 941 to for mossy sad tomorrow, sad 961
far the lith Jae. This latter quotation is aqui-
Idea to 9111 is t ez die. After
r the elms of the
dieiroesage, a further impro of / was
the vote at less haltingvement 4 eels&
Ming 911, a bums,* lot toisserew, and 941 t•

for January. The "continuation" at the close wa
rather easier, at per mat. The official badmen
report is u follows:—Three per Cent. Congo* kr
I money, 941,1, , I,ditto. foe account, 4th Des,
941, 41, 4t, 411. Three per Cent. Reduced, 93, NI
931. New Three per Cents., 931, 931. Thirty Years
Annuities, expiring in Jan., 1880, 3 1-16. Bank
Stock, 217, 2161, 216. Thrwand-a-Half per Cent.
Exchequer Bonds, falling payable in 1866 and 1869,
981, 981. India Bonds, 2e. dia.
In face of the tightues of the money market,
Exchequer Bills have again risen Is, closing at be.
to Be. prem. Exchequer Bonds were quoted 98$
to 99. _ _ _

In the foreign stock market attention was mainly
confined to Turkish Biz per Data., which were in
great speculative favour, and rue 1 per cent. The
price was first marked 954, and eland at 961 to I,
for the 16th ire. After the recognised hours the
quotation was 961 to The Guaranteed Four per
Cents. advanced per omit., being last quoted 102
to;. Spanish Deferred Three per Cents. Improved
per cent, Other foreign securities were steady, but
eery quiet.
At Paris yesterday (Tuesday) the exchange ow
London was quoted 26.25 for short, and 24.80 for
three months bills; at Amsterdam, 11.65, for short ;
at Hamburg, 13.3* for short, and 13.0 j foe three
months; at Berlin, 6.18!; and at Vienna, 10.17. At
Berlin and Hamburg the rates are slightly lower, sad
at Paris and Amsterdam steady.
Ottoman Bank shares advanced this afternoon to
to I dia., and further improved after the aloes of
the Stock Exchange to k die. to par. Bank of Egypt
have risen to to prem.; and General Bank of
Switzerland to 1 to oi die. The National Dis-
count Company's shares eland at 11.16 to 13.16
prem.; the new shares at 1 to # prem.;
and London Discount at f to j die. The
shares of the London Chartered Bank of Ave.
trolls were again inquired for. Other Bank stock'
showed steadiness. Peninsular and Oriental Steam
and Netherlands Lund shares were quoted better.
East and West India Dock stock is marked 125 k ;
and New South Wales Government Five per Cent..,
102. General Screw Steam shares showed some
flatness.

The nominal closing quotations for the newlpre.
jawed railways are sabjoined, viz. s Eastern Bengal
Railway, to premium • Ceylon Railway, le to
prem.; Calcutta and Bo:ath Eastern Railway, par
to prem. ; Rigs and Dunaborg Railway,
to prem.; Copiapo Railway,} die. to / prem. ; Italian
Junction Railways, 1/ to 11 din. ; Euphrates Valley
Railway, to prem. Metropolitan Railway Ona-
rantead sans, 3to die.; New Brunswick and
Canada Railway and Land A shares, I dia. to par;
ditto, B sham, 1 to 0/ din.
The nominal quotations for some other new pro-
jects are as follow :—European and Indian Junction.
Telegraph Company, 1-18 die. to 1.18 pm.; Bernard's
Patent Machine Boot and Shoe Company,} die. to per;
West Ham Distillery Company, 3 dim. to par;
Levant Mineral, die. to par.
Relative to the market for American securities,
Mr. R. F. batterthwaite reports as follows :

Beldam fa American eeeMitiee In London dialog Um
put week has been active, with eaufderable tranuetiou fs
Illinois Central Couturiere Beads and Shane, is BIM
Third Mortgage, 1882 ud 1871 Boads, and in New Yea
Central 8m per Cut. and Seven per Coat. Convertible, sat
is Miehigaa Central Eight per Cent Convertible Boada.
We not, a moderato inquiry fir the brads of du Detroit as!
Milwaakte Railroad.