The Express.
London, England, 1859-07-20 00:00:00

rONBY MARKET.-2BIS DAY.

Two o'CLocx.
Great inactivity continues to prevail in the Stock
Exchange. Commis are inanimate, and are now
quoted about 1-16 per cent, lower than they closed
yesterday. Some of the other markets, however,
show more steadiness. English and Lombardo-
Venetian railway shares are rather dearer.
The mud telegrams from the Paris Bourse have
not yet reached us.
Consols are officially marked 95 to 951 for money,
and 95 to 951 for the 9th of August. The present
quotation is 951 to 1 both for money and the account.
The Three per Cents. Reduced have been dealt in
at 951 to 1 ; the New Three per Cents., at 951
to 3; India Stock at 220 to 222; the Indian
Four per Cent. Debentures, at 941; the scrip
of the New Indian Loan, at 941 ; and Exchequer
Bills, at 275. to 281. prem.
The foreign stock market is rather quiet.
Turkish stocks have declined 1, per cent., the Old
Loan being now quoted 801 to 811, and the New
691 to 701. Mexican Bonda are rather more offered.
Sales are recorded u follows :—Brazilian Old Five
per Cents., 1031; ditto Four-and-s-Half per Cents,
1852, 941, 94 ; dittoFour-and-a-Half per Cents., 1858,
941; Buenos Ayres Six per Centc, for account, 71 ;
Dutch Foar per Cent. Certificates,lol; Mexican Three
per Cents., for account, 19, 191, 181; Portuguese
Three per Cents., 1863, 45; Sardinian Five per Cents.,
871; Spanish Three per Cents., for account, 44;
Turkish Six per Cents., 1864, for account, 81;
ditto Six per Cents., 1858, for account, 701 ; ditto
Guaranteed Four per Cents., for account, 1041 ;
Venezuela New Two-and-a-Half per Cents., 281,
281, 28/. _ . _

- -•-
Mr. Gladstone's budget commend. itself to fun,
by its simplicity; and, though involving the necessity
of sacrifices, has been well received in the City.
Acting upon high financial principles, the Chancellor
of the Exchequer proposes to meet the deficiency of
between four and five millions resulting from the
measures of defence now in progress by an imme-
diate addition to the income tax, and not by a loan.
The readinees with which the nation responds to his
appeal contrasts strongly enough with the French
peaches of burthening posterity. The contrast is
the more worthy of remark because the addition to
the income tax now announced is necessitated almost
solely by the pernicious and disquieting example of
enormous military and naval armaments set to the
world by France, our ally.
The Sultan has taken 60,0001. in specie for Lisbon.
There were no bullion operations at the Bank yes-
terday.
Farther amounts of Russian gold are known to be
oa the way to this country.
On 'Change yesterday afternoon the rates forte ills
on Austria were quoted at a fresh reduction. ng
paper on Paris was also inquired for. As regards
St. Petersburg, the quotation was slightly men
favourable to this country. The other exchanges
were steady. The rates are shown below :
Amsterdam, three months, 11.13! to 141; ditto gat,
11.113 to 123; Rotterdam, three moths, 11.13 t to 141;
Antwerp, three months, 25.5 to 10; Hamburg, mare
haw, three months, 13.3tt0 t; Parka three days sight, 15.5
to 121; ditto, three months, 26.30 to 21 ; Fransfort-mt-
the-Mahse, three month; 116 t to 117; Petersburg, per
rouble, three months, 34t to I ; Vienna, ell flo three
meths, 11.75 to 85 ; Torte, ditto, three months., 11.86
to 95 ; Madrid, three maths, 49 to t ; Cadiz, three
months, 491 to 4; Leghorn, three months, 30.00 to 10;
Geste, three months, 26.75 to 80; Naples,
three menthe,
123., Matins,
4011 to 41; Palermo, three menthe, 122/ to
three months, 123 to;; Lisbon, 90 days, 611 to I;
°pert% go days, 611 to 62.
Except se regards tee, holders of which asked
higher prices,7tte produce market yesterday was
spiritless notwithstanding Mr. Gladstone's absten-
tion from touching the duties.
The Liverpool cotton market yesterday was abun-
dantly supplied, and prices were quoted hot. to Id.
per lb. below the highest point of last week.
The indigo sale yesterday went off without altera-
tion in prices, but the biddings were more animated,
and the quantity sold was larger than on Monday.
In the estimate of expenditure for the current year
submitted by the Chancellor of the Exchequer on
Monday was a sum of 116,8001., being the cost of the
core, or gotta perch& covering for the proposed sub-
marine cable from Falmouth to Gibraltar. Mr.
Gladstone remarked that " the late government en-
tertained the plan of endeavouring to manufacture
and lay down this submarine cable from England to
Gibraltar in the course of the present mason, the
estimated out of which was 250,000/. ; the contract
bad been actually made before the present govern-
ment came into office, for the manufacture of what, I
believe, is called the core of the cable, at a cost of
115,0001." In consideration, however, of the ad-
vanced period of the season, the operation of laying
the cable, already mentioned in the Express,.
is not to be d out until next spring.
Lombardo- cultist+ Railway shares were dull yes-
terday, owing to an impression that a call of 2/. may
be made on both issues of shares in October. The
shares, with 10/. or 50 per cent. paid, would then be
admissible to the privilege of quotation on the Paris
Boma.
We understand that a meeting of the shareholders
in the General Bank of Switzerland will take place
at Geneva on tne 22nd August, when, it is stated,
the whole of the fin English directors will tender
their resignation, not being able to agree with the
management at Geneva. Could the English capital
embarked in the undertaking be withdrawn as easily,
I the arrangement would be the more satisfactory.
We notice, however, that at Berlin, where the shares
are largely held, the price, previously as low as W.
per 201. share, has been carried up to 10/. by the
news of peace, it being doubtless hoped that the un-
dertaking may be extricated with less disadvantage
than was at one time apprehended from its Italian
and other commitments.
The half-yearly report of the directors of the Soot-
deb. Australian %vestment Company shows a gross
profit of 10,1481. The dividend proposed is at the
rats of 10 per cent. per annum, which will require
utooot., and leave at the credit of the reserved Rind
18,6961. Only a small amount of the 40,0001. of 6
per cent. preference stock offered has yet been
taken up.
The directors of the Netherlands Land Enclosure
' Company have received intelligence that the Second
Chamber of Holland has refused to sanction the bill
brought in by the government to confirm the agree-
ment entered into with the company. Consequently,
I fresh negotiations are necessary, and will be imme-
diately entered upon. This company has strong
claims upon the assistance of the Duren government.
The 8 per cent. preference shares fell 10.. yesterday.
The shares of the Royal Mail Steam Company fell
21. yesterday,in conseq.ence of the loss of the steamer
Paramatta.
Creditors of the London and Eastern Bank are re-
quired to prove their claims before Vice-Chancellor
Wood, who has appointed the 27th ins'. for adjudi-
cating upon them.
The Council of India have taken up the ships
Lady Octavia and Speedy for the eo nnn y aaaa of
troops from Gravesend to Bombay.
The effect of peace on the freight market is the+
noticed by Messrs. Sharer, Lamb, and Co.:
The unexpero-dly peaceful news of the lint week bee un-
hinged our market. mid we bars rn repart a eta of suspense
fled general slufrgisnar es ta beleba. Our 'mations must
therefore be accepted with gashilasti.n. Mediterranean out-
ward freights are t'a firm to be doOdadly affrcted, and home-
ward are shunt mamas], influenced en might be expected
by tM freeing .4 French, At:avian, 8 trdinten, and German
tonnage. In other clamant the fret is se vet leas =rice.
As usual et this season, Archangel freights are much en-
hanced.
The annexed report of the Rarkoff (Russia) wool
fair, from Meyers. Zenker and Co., is forwarded by
Messrs. John Wilson, Jan., and Co.:
The prospect,' of oar this year's wool fair, looking ssly to
the very berlthy ondttion of our bane manufecturee, nets
is every respect highly favourable, sad the altered views of
the lest few weeks to favour of lower prices, ware based ea-
&nearly on the gloomy aspect of attire übr.md, both com-
mercial sad political, whieb led to as expeututins met foreign
layers would he totally ablest front our markets. We com-
mence ow new yew in the wool trade trim very thing