The Express.
London, England, 1860-10-15 00:00:00

MONEI MARKET-THIS DAY.

Two o'CLocz.

The funds have experienced a fresh decline of
per cent to-day, owing to the prospect of an ad-
vance in the Bank rate of discount in the event of
the drain of gold continuing The wet weather
and the decline on the Paris bourse have like-
wise an unfavourable influence. In the share
markets preparations for to-morrow's settlement
have formed the chief business. In some instances
the tendency of prices is drooping, but there is no
variation of importance.

At Puns this morning, according to Mr.
Reuter's telegram, the Three per Cent. Rentes
were quoted 68fr. 87c., being a trifle lower than on
Saturday afternoon.

Consols are of ioially marked 921, and for
money, and 94 for the account. The pre-
sent quotations are 92f to for money,
and 921, rather " buyers, " for the
Bth of Nov. The official business report is as
follows :--Bank Stock, 229 ; Three per Cents.
Reduced, 911, ; New Three per Cents.,
*, ; New Two-and-a-Half per Cents.,
77i; India Stuck, 219 ; ditto iFive per Cent.,
stock, 1859, 1031 ; ditto Four per Cent. De-
bentures, 1858, 961 ; ditto, 1889, 961 ;
ditto Bonds, 4i. die. ; Four per Cent. " edaced "
' rupee paper, 8./ ; ditto Five per Cent., 96 ; ditto
Five-and-a-ad per Cent, 102, 1 ; Exchequer
Bills, 3s. preol, par.
_ .

The foreign stock market is dull, except as re-
gards Portuguese and Sardinian Bonds, which are
in demand. The Turkish Loau of 1854 is quiet, at
70 to it ex div. ; and that of 1858 at
55 to 4. Sales are recorded as follows :
New Granada Deferred, 61 ; Portuguese Three
per Cents ~ 1853, 44; ditto, for &avant, 441 ;
ditto, small, 441 ; ditto Three per Cents.
1856, 1857, and 1859, 43e ; Sardinian
Five per Cents., 852, 864 ; Spanish Passive, 23e ;
Turkish Six per Cents, 1858, 554, 55.

The Orwell has arrived from Melbourne with
161,5001. in gold. The Europa, from Boston, has
brought 20,000/.

The mails from Calcutta, China, and Australia will
be delivered in London to-morrow (Tuesday) morn-
ing. The advises from Sydney state that no failures
of importance had taken place during the month.
Business, however, was bad, and flour greatly de-
pressed•

The amount of bar gold withdrawn from the Bank
on Saturday for exportation was 212,0001., making
a total of 612,0001. since the date of the return just
published. The present remittance goes, in the
first instance, to Paris.

The effect of the drain of bullion is already seen
in the stringency which prevails in the money
market. A good deal of timidity is apparent. The
terms for the best bills to-day ranged from 4 to 4fr
per cent., many holders of money refusing to lend
below the latter rate. Biz months' bills are placed
with much difficulty, and the rates were raised to-
day to 6} or 6 per cent. It is foreseen that a con-
tiniuinee of the efflux of gold upon the same scale
for a few days longer would cause the Bank rate of
discount to be raised to 5 per cent.
The applications at the Discount-office at the
Bank were to a moderate extent. This was the
first day for the payment of the dividends. Next
week the advances made during the shutting of the
transfer books must be repaid.

The steamer Atrato has arrived from the West
Indies with 93,0001. in specie, and the Armenian,
from the West Coast of Africa, with 20,0001. In-
cluding these amounts, the total imports of the
week have been 356,0001.
At a meeting on Saturday of the creditors of Mr.
A. Allan, miller and flour factor, of King's-croas a
balance-sheet was presented by Mr. Coleman, the
accountant, stating the liabilities at 16,7851., and
the assets at 9,1911. It was agreed to accept a com-
position of 10e. in the pound, payable in instal-
ments—the last, of Is., to be secured in July next.
The whole of the extensive and varied stock of
Mr. J. H. Smith, tanner and leather merchant, of
Bermondsey, a bankrupt, has just been purchased,
in one lot, of the assignees, at a valuation, by
Messrs. Hooper and Maunder, of Rood-lane. The
stock of Messrs. Streatfeild and Co. has been nearly
cleared out.

A special meeting of the South Eastern Railway
Company is called for the 25th inst., to sanction an
application to parliament in the ensuing session
" for powers to raise additional capital to carry
out works which have from time to time received
the sanction of the proprietors, to complete the sub-
scription to the Charing-cross Railway undertak-
ing, and for other purposes."
Sattuday was "making-up day" in the railway
share market. The preparations for the settle-
ment this morning indicated a moderate supply of
stock, and the rates of "continuation" at the com-
mencement ruled accordingly as follows
. -• . .

London did North Wedeln . 316 to 5-16 per ct. contango.
Midland
Lancashire and Yorkahire
Great Western
York and North Midland
.., Berwick
South Eastern
...