The Express.
London, England, 1860-05-10 00:00:00

REDIJCTION IN TEE RANH RATE OP

DISCOUNT. .

Two o'Cwcc.

The Directors of the Bank of England, at their
weekly court to-day, have reduced the minion=
rate of discount from 5 to 4i per amt.
The alteration had been fully " discounted "
the Stock Exchange, and has therefore given no
stimulus to prices. The stock markets, on the con-
trary, have shown flatness. After declining per
cent., owing to a number of realisations, Consols
are now quoted barely as good as yesterday after-
noon. British railway stocks are weaker.

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Renter were
quoted 70fr. 66c., being again } per cent. lower
than yesterday.

Consols are officially marked 954 and for money,
and 954 and 4 for the account. The present quota-
tions are 954 to 4 for cash, and 954 to 4 for the 6th
of June. The official business report is as follows :
Bank Stock, 296, 2274 ; Three per Cents. Reduced,
931, 4 ; New Three per Cents., 934, 4 ; Indian
Five per Cent. Stock, 1859, 1062, 4 ; Five per
Cent. " enlaced" rupee paper, 984 ; India Bonds,
10s. dis. ; and Exchequer Bills, 5e., 75., 4s.
prem.

In the foreign stock market the principal feature
has been a fall in Turkish Bonds, in conse-
quence of a vague statement that a Russian
army has been assembled on the Bessarabian
frontier. These stocks opened with great de-
pression, the loan of 1854 being marked
751, and that of 1858, 801. The present
quotations show a partial recovery, but are
still nearly 1 per cent. below the closing
range of yesterday, being respectively
761 to 1, and 601 to 614. Buenos Ayres Bonds
are inquired for. Sales are recorded as fol-
lows :—Brazilian Old Five per Cents., 101 ; Buenos
Ayres Six per Cents., for account, 87 ;
ditto Deferred, 241 ; Peruvian Three per Cents.,
691 ; Portuguese Three per Cents., 1853, for
account, 454 ; Russian Five per Cents.,
1071, 1084 ; ditto for account, 108/ ;
Sardinian Five per Cents., for account, 86 ;
Spanish Three per Cents., for account, 484 ; Turkish
Six per Cents., 1854, for account, 751, 781; ditto
Six per Cents., 1858, for account, 601, 4, 81, 601.

The Calcutta and China mails yid Marseilles are
expected in London on Saturday morning.
_ _ _ . _ .

The shares of the London and South. African
Bank are quoted Ito prem., and the new second
preference debentures of the Grand Trunk Railway
of Canada, 1 to 2 prem.
The numerous persons interested in the Grand
Trunk Railway of Canada will learn with satisfac-
tion the anomie of the new loan just announced by
this company. The latest hour allowed for send-
ing in tenders for the 1,111,5001. of Second Pre-
ference Six per Cent. Debentures was 12 o'clock
yesterday. The company have officially intimated
that the " entire amount has been subscribed for
to-day, vrith the exception of 226,0001., which is
now being arranged for. The subscriptions range
from 80 toB4, but an the great bulk was at the former
amount, the board has decided that it shall all be
issued at that price." The entire amount of 1,111,5001.
may be considered as placed, as arrangements have
been made in respect of the 225,0001. mentioned
above. Thin portion of the debentures, it is stated,
had been lodged as security for money advanced to
theoompany. One-half of the tenders yesterday were
over 80, and three or four of them were as high as
84. The decision of the board to place all the
tenderers upon an equal footing, by allotting the
entire amount at one uniform price-80--is re-
garded with satisfaction. As soon as the success
of the operation became known, a demand for the
Second Preference Debentures sprang up, and the
price advanced to 1 to 14 pram.
The amount of gold talon to the Bank yesterday
was 130,0001., making an aggregate of 486,000/.
since the date of the last return.

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128

A numerously attended meeting of the creditors
of Messrs. Johnson, Gilman, and Co., wholesale
boot and shoe manufacturers, who recently sus-
pended payment, owing to the destruction by fire
of their premises and stock in Rederoserstreet,
Cripplegate, was held yesterday. The liabilities are
estimated at 81,450/. ; and the assets al 37,6921.,
less 2501. to be paid in full, showing a deficiency
of 21,1081. The advisability of placing the estate
in the Court of Bankruptcy was debated, but the
result was the appointment of a committee of in-
vestigation, who are to report at a future meeting,
to be held shortly.
The London and North Western Railway traffic
return shows this week an increase of 91 • 548/ the
Great Western, an increase of 1,078/.; the Great
Northern (which compares with Easter week last
year), an increase of 2,622/. ; and the London and
South Western, an increeatiof 332/.
Subjoined are the latest quotations of insurance,
dock, canal, and miscellaneous shares, as given ia
the last Stock Exchange list:
Insurance.—Allianoe, British and Foreign, 161 ; ditto
Marine, 70 ; Atlas, 161 ; Indemnity Marine, 160 ; Law
Fire, 41 ; Legal and General Life, 61; London, 471;
London and Provincial Marine, 21 ; Marine, 71 ;
Phoenix, 175 ; Rock Life, 81, 1 ; Royal Exchange, 306 ;
Union, 275 ; United Einem, 5 ; Universal Life, 30;
Universal Marine, 21.
Gas Light.—European 10k, ; Imperial, 761; ditto New,
31; ditto Continental, 471; London, 42 ex div. ; ditto Bins
Preference, Uex div. ; Surrey Consumers, 111, ; West-
minster Chartered, new, 111 ; Western, 121.
Docks.—Fast and West India, 1191, 1 ; London, 60 ;
Katharine, 69, 68, 67.
Waterworks.—Berlin, ; Chelsea, 16 ; East London,
1251, 126 ; West Middlesex, 1061.
Bridges.—Waterloo, 21 ; ditto Old Anna. of 81., 28 ;
ditto New of 71., 25.
Canals.—Kennet and Avon, 61, ; Regent's, 201.
The Pennsylvania Central Railway Company
have declared a half-yearly dividend of 3 per cent.,
payable the 15th inst. The interest on the First
Mortgage Bonds of the New York and Erie Rail-
way, due the Ist inst., is advertised for payment.
With reference to the market for American secu-
rities, Mr. E. F. Satterthwaite reports as follows :
We note a moderate business in American securities in
London during the past week. Erie shares continue in de-
mand. New York Central Bondi are taken freely for in-
vestment. Illinois Central shares remain without anima-
tion.
Mr. J. H. Montague was yesterday appointed
agent for Lloyd's at Richmond, U.S.
At the Court of Bankruptcy, yesterday, there was
a dividend sitting under the old bankruptcy of
Jacob and Joseph B. Montefiore, formerly in busi-
ness as merchants in George-yard, Mansion-house.
The bankruptcy occarred in 1844 ; the liabilities
amounted to 42,0001. ; and there have since been
paid dividends of 6s. 10d. in the pound. It was
announced that the assets in hand would yield a
further dividend of about 2s.

WEDNESDAY EVENING.

up by a
Consols, which closed yesterday at 95f " buyers,"
until—the Marines were ordered to clear the lower deck,
that order was restored. A court of inquiry has been for the Gth of June, opened this morning at the
sitting on the affair, but we bare not beard the result _
mo and closed at "sellers."
It is said that the grievance wai an ungracious refueal ea quotation, 95,1
to allow leave to the good conduct men, and to be For money the last price was9sl to 4.
permitted to send their linen on shore to the wash. The official business report is as follows :
These repeated nets of mutinous insubordination Three per Cent. Consols, for money, 964, 4,1, I ;
an board our ships of war are a disgrace to the British
ditto for awount (June 6), 954, i ; Three per
navy. The Jame* Watt left port on Tuesday last, it is
re reported for Sicily. The Cadmus left the same day for the Cents. Reduced, alai/ it it / row Throe. Per
Eatlndiee, and the Firefly to resume surveying opera- Cents., 934, fi ; I &mit, 2214 ; Indian Five
t in the Levant. The Cressy, Neptune, and agensem- fer Cent. Stoeires9, 1004, I, i ; ditto for account,
non left to-day for a cruise, and the other ships in port are Jr”„. m, lA, .
hourly expecting to receive order. to proceed to ea.._ mike
1858,.. G), 107 Itthdi....,
,859F79,4797cenn. Dediabeßontuirdz
Timm, May 3.
Tin SILALL.PDX AT MALTA.—We regret to learn, se• dim,
gem good authority. that there are at present twenty COMM The Indian rupee paper remain ,uiet :the
_Five
MI mall po• ain the naval hospital, live or six very severe per Cent. was last quoted 981 to t and the Fives
Times, May 3. and-a-Half per Cents., 104 to 4. Exchequer Balls
METROPOLITAN Fars MOOPPTAL, DEVONSHIRE• remain doll, at 4e. to 7e. prem.
SQUARE, CITY.—The somata number et patients relieved The New Victoria Six rCent. Debentures were
daring the week ending May !S nail—Medical, 1.044;
surgical, 423; total, 1,467 ;of which 486 were new cases. steady, closing at 107 to 1.