The Express.
London, England, 1859-07-21 00:00:00

MONEY MARKET -T 114 L

Two o'CLOCI.
The funds to-day are flat, owing to the nn-
favonrable bullion movement, coupled with
a few bona
_fide sales. A reduction of I to
3-16 per cent. hu taken place in Consols. In
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some of the other markets, the tendency of prices is
likewise drooping, in the absence of business.
The telegrams from the Paris Bourse h►ve not yet
arrived.

Consols are officially marked 95 to 95; foe
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money, and 93 to 961 for the 9th of August.
The present quotations are 95, " sellers," for
money, and 96, " buyers," for the account.
Bank Stock has been dealt in at 221 to 223 ; the
Three per Cents. Reduced, at 951 to 1 ; the New
Three per Cents., at 951 to ; the New Two-and-a-
Half per Cents., at 79; India Stock, at 221; the Indian
Four per Cent. Debentures, at 96; the scrip
of the New Indian Loan, at 944 to 4; India Bonds,
at 511. dis. ; and Exchequer-bills, at 275. to 30s. prem.
The foreign stock market is very quiet,
Turkish stocks have fallen 1 per cent., the Old
Loan being now quoted 80 to 81, after being
marked 814, and the New 70 to 4, after
being marked 714. Other descriptions meet
with little inquiry. Sales are recorded se follows :
' Brazilian Old Five per Cents., 1034; ditto Four-
and-a-Half per Cents., 1858, 94/, 90, 44 ; Peruvian
Fonr-and-a-Half per Cents., for mount, 90; ditto
I Hammen Four-and-a-Half per Cents., 80; ditto
Three per Cents., for account, 69; Portuguese Three
per Cents., 1863, for account, 45; Sardinian Five per
Cent., 86 : Spati'ili New Deferred Three per Cents.,
for account, 321 ; Turklsh Six per Cents., 1864, for
account, 814, 801; ditto Six per Cent..., 1858, for
account,7l4 ; ditto Guaranteed Four per Cents.,
1041.
At a time when the financial requirements of
India are once more occupying public attention, it is
of interest to know for what amount the market is
yet liable on acoonnt of the Debenture Loan of
6,047,0001., announced in April last. Of the
7,000,0001. of Debentures then offered, 5,047,0001..
it will be remembered, were taken. The sum receiv-
able for them in cash was, in round numbers,
4,800,0001., and of this a little over 4,400,0001. has
now been paid, leaving rather less than 400,0001.
still to be paid on account of the final instalment of
26 per cent. fixed for the 16th of August. The
amount of Debentures paid up in fun is 3,600,0001.
An instalment of 25 per cent on the remaining sum
of, say one million and a half, will be equivalent to
something less than 400,0001. The disposition
shown by the subscribers to pay in advance of their
engagements does not, however, ensure the success of
any new loan in Debentures. In most quarters it
is doubted if the old plan will be again resorted to.
The advisability and economy of assisting the ope-
ration with the imperial credit are obvious. Other-
wise, great sacrifices will be imposed upon the
Government of India. The increased depression of
the Indian guaranteed railway shares furnishes a
suggestive indication.
The applications at the discount office at the Bank
yesterday were limited, but in the open market a good
demand was experienced, and few transactions took
place below 24 per cent. The impression that the
value of money has seen its lowest point is strength-
ened by the effiux of gold from the Bank, and of
silver to the East. Discounters, consequently,
are asking on six months' bills an advance on the'
low rates lately current.
In the absence of fresh supplies, a further sum of
90,0001. in bar gold was yesterday withdrawn from
the Bank for exportation to the Continent, doubtless
in payment for silver. There is reason to believe
that these withdrawals will be continued from week
Ito week, as the Council of India have given oat con-
tracts for the supply of a large amount of silver. A
considerable proportion of the loans yet to be raised
here for account of the Indian government will pro-
bably be sent out in this metal.
A government inquiry into the finances of Greece,
set on foot in consideration of the liability of Great
Britain, France, and Russia as guarantors of the
Greek Loan, is understood to have terminated, the
British Commissioner having returned home. His
report will doubtless come to light in due time.
In another column will be found some documents
forwarded by the Committee of Spanish American
Bondholders, and relating to the debt of New
Granada.
The numbers are published of the first batch of
Buenos Ayres Three per Cent. Bonds, amounting to
112,3001., which have been purchased and cancelled
by the government. The sum employed for the pur-
pose was 20,0001. In reducing the national debt at
so cheap a rate the government acts wisely. The
more it purchases, the better will the bondholders be
pleased.
The Mindora has reached Liverpool from Mel-
bourne, with 4,403 ounce. of gold. Of the 210,6001. in
specie by the Magdalena, from the West Indies,
1121,0001. is silver and 89,5001. gold.
Advices have been received of the sailing of the
steamer Bremen from New York for Southampton,
I with 118,0001. in specie, the bulk of which is probe-
bly on French account.
'The light portion of the Bombay mail left Mar-
i 'silks at noon yesterday, and will be distributed in
London early to-morrow morning.
It is believed that the Royal Mail Company's inter-
colonial steamer, Theme!, will bring the West Indian
and Mexican mails due at Southampton on the Ist
of August, in the place of the stranded Paramatta.
The superintendent of the Royal Mail Steam Packet
Company at St. Thomas, Mr. J. B. Cameron, who
writes from the steamer Paramatta, on the reef,
mentions some intended operation' for getting the
vessel off, and expresses himself hopefully as to the
result. Captain Abbot, of the Company's steamer
Magdalena, has arrived in London, and states that a
personal inspection of the Penmen, as she lies
stranded, has induced him to form a similarly hope-
ful opinion.
A failure of some magnitude is announced in the
flax trade at Belfast.
A meeting was held yesterday of the creditors of
Messrs. R. Brandt and Co., Russia merchants, who
failed on the 23rd ult. The balance-sheet presented
by Mr. Jay, the accountant, estimated the liabilities
at 12,0321., and the assets at only 3,317/. It was
determined to wind up under inspection.
The corn market yesterday was dull, at Monday's

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prices.
Tne public sales of coffee yesterday went off at a re-
daction of 6d. to Is. per cwt. At the public sales of
jute a good deal of Mantes also prevailed.
The half-yearly meeting of the North Eastern
Railway Company is called for the 10th of August,
at York.
A special meeting of the Norfolk Railway Com-
pany is called for the Ist of August, to approve
three bills, one of which provide,. for the extension
and working of the Wells and Fakenham Railway,
while the second authorises the construction of a line
from the Ilythe, near Colchester, to Wyrentioe ; and
the third is r establishin railway communica-
tion between fo
Loughton, Epg ping, and Chipping
Omar.
The adjourned half-yearly meeting of the New
Brunswick and Canada Railway and Land Company
will be held on the let of August, to receive a report
from the committee of investigation.
The annual meeting of the Pacific Steam Naviga-
tion Company is called for the 10th of August, at
Liverpool, and will be made special to approve •
proposal for increasing the company's capital by the
issue of new shares, and to authorise the directors to
apply to government for a renewal of the charter.
The London and North Western Railway traffic
return shows this week an increase of 2,9731 ; the
Great Northern an increase of 431.; the Great
Western the large increase of 6,7231. ; and the Lon-
don and South Western an inclose. of 741.