The Express.
London, England, 1860-11-16 00:00:00

MONEY MARKET-(THIS DAY.)

Two &Mout.

Owing partly to the announcement of the arrival
of a quarter of a million of gold from Australia,
the stook markets to-day have shown a rather decided
tendency to improvement, in spite of the increase in
the value of money. Consols have again risen } par
cont. British, Lombardo-Venetian, and Canadian
Railway shares are all better. The markets are
sensitive, but prices in all departments are well
supported.
At Paris this morning,.acoording to Mr. Reuter's
telegram, the Three per Cent. Routes opened
at 69fr. 800., being } per cent. better than the
last price of yesterday.
Consols are officially marked 93, 93}, for
money, and 94 and for the sooonnt. The
present quotations are 93} to } for cash, and 94
to for the 6th of December. The official busi-
ness report is as follows :—Bank Stock, 233, 234 ;
Three per Cents. Reduced, 91}, ; New
Three per Cents, 91*, 4, ; Thirty Years An-
nuities, expiring in April, 1885, 18 1-16 ; India
Five per Cent. Stock, 1859, 103}, ; ditto, for ac-
count, 103} ; ditto Four per Cent. Debentures, 1868,
96} ; ditto Bonds, 10s. die. ; Five-and-a-Half per
Cent. " enlaced " rupee paper, 100 ; Exchequer
Bills, 65., 3s. dig.
A fresh rise of about } per oent. has taken place'
in Turkish Bonds. The Loan of 1854 is quoted
171} to 72, and that of 1858, 57} to 58. This is the
only variation of importance in this de-
partment. Sales are recorded as follows :
Brazilian Old Five per Cents., 99 ; ditto
Four-and-a-Half per Cents., 1860, 881, 89; Buenos
Ayres Six per Cents., 96 ; Danish Five per Cents.,
100} ; Mexican Three per Cents., for account,
214 ; Portuguese Three per Centa., 1853, for account,
44, 45 ; ditto Threeper Cents., 1856, 1857, and 1859,
451 ;Russian Five per Cents., for account, 105 ;ditto
Four-and-a-Half per Cents., ; ditto Three
per Cents., 1859, 62} ex div. ; Spanish Three per
Cents., 49} ; Turkish Six per Cents., 1864, 72 ;
ditto, for account, 711 ; ditto Six per Cents., 1868,
57 ; ditto, for account, 574.

The Sussex has arrived off Plymouth from
Melbourne, with 62,161 ounces of gold, worth
249,0001. _ _ _

The private letters from Paris allege that the
draughts upon the bullion in the Bank of France
since the date of the last return have been very
heavy, amounting, according to some rumours, to
upwards of 3,000,0001. sterling. The transmission
to Vienna of the proceeds of the call of 21. on Lom-
bardo-Venetian Railway shares may account, in
part, for the drain. Should it continue, we may
expect the Bank of Francs both to persevere in
its purchases of bullion abroad and to raise its rate
of discount afresh. This policy would of course
increase the pressure upon our market, and necessi-
tate further protective measures here.
In consequence of the rapid movements by the
Bank of England, the discount market yesterday
was naturally much unsettled. In moat quarters only
regular customers were accommodated. Very little
business was done below the Bank rate, and 6 to
per cent. may be considered the prevailing terms
for very good bills having not more than sixty days
to run. As, regards four and six months paper, there
was a general indisposition to discount it. In a
few instances transactions occurred at 7 to 711 per
cent., but holders of money generally were un-
willing to do more than make temporary advances
upon this Glass of bills. Nevertheless, the prin-
cipal financial establishments appear to be amply
supplied with money, though very careful of em-
ploying it.
At the Bank of England yesterday there was a
continued pressure for money, that establishment

being the cheapest market, notwithstanding the
advance in its terms.

The forthcoming return of the Bank of England
is looked for with great interest.
It will be learnt with satisfaction in most quar-
ters that the joint-stock banks and discount esta-
blishments have come to an agreement to depart
from the practice of raising the rates for loans and
deposits in exact proportion to the rise in the
Bank of England rate of discount. There has
been on former occasions too eager a competition
for money, and, as a natural result, too eager a
competition to employ it. The joint-stock banks
have now decided to allow tit per cent. for
deposits, in lien of 5 (i.e., 1 per cent. under the
Bank +raw►imum), which would have been offered
according to the practice hitherto prevailing. The
only deviations from this decision are that the Lon-
don and Westminster Bank give only 3} per cent.
for deposits below 5001. ; and that the Commercial,
whilst offering only 44 for new deposits, consider
themselves bound to allow 5 per cent. upon the
sums previously lodged with theta.

. -
The Lombard-street disoouht houses and the
National Discount Company have raised their rates
from 4to 44 per cent. for money " at call," and
from 41 to 5 per cent. for money "at notice."
Had the old practice been adhered to, the rates
now in force would have been, respectively, 5
and 51.
_ . . .

The steamer IA Plata has arrived from the West
Indies with 93,0001. in specie.

Subjoined are the particulars of the 1,094,5001.
in Australian gold now on the way to England, viz. :

Days (Mid on boanl.
Name. Balled. at Sea. ounces. value.
Water Nymph—. Aug. IS 64 20.46$ £322,000
Sawa Aug. 27 20 42,161 249.000
ta otteY
Sept. 12 et 57.599
About Sept. rt 49 13,382 130.000
2%.400

Total ounces MAIM tIMPS,6OO
About one-half of the above amount may arrive
in a week or two.

The Eastern Counties Railway traffic return
shows this week a decrease of 0051. ; the Midland,
an increase of 4,0021 ; the Manchester, Sheffield,
and Lincolnshire, an increase of 1,7511. ; the Lan-
cashire and Yorkshire, an increase of 3,034!.; the
Great Western, an increase of 1,2011. ; 'the Great
Northern, a decrease of 525/. ; the North Eastern,
an increase of 3,4491. ; and the London and South
Western, an increase of 5351.
A telegram announces that the receipts of the
Great Western Railway of Canada, for the week
ending the 2nd instant., were 11,3331. sterling, being
2,5161. more than for the corresponding week of last
year.
The charter of incorporation of the London and
South African Bank having been granted, and all
the shares subscribed for, the directors have made a
further call of 2!. per share, payable on the 15th
Dec., on which day the Jaime certificates will be
issued.

An undertaking of some magnitude has been
launched under the title of the Great Kanawha
Company (Limited). It is organised for the
purchase and development of the Groat Ka-
nawha Freehold Estate, in. Putnam County,
Ohio. The estate comprises 86,000 acres, or about
133 square miles. It has a frontage to the Great
Kanawha River. As regards the soil and the
various products, including timber and ooal, favour-
' able statements are put forward. Iron ore, lime-
stone, and building stone are all present in large 1
quantities. The prospeotrur holds out the anticipa-
tion that "from the Wes of land shareholders will
be reimbursed their entire capital within a compara-
tively short period," The purchase money is to be
127,600 L, of which the vendor will take a large
sato:at is abeses.al emnpaay, whilst tht.eash
psynient is to be spread over a series of years. The
I title has been duly investigated and approved. The