The Express.
London, England, 1866-10-04 00:00:00

MONEY MARKET.-(THIS DAY.)

Oita o'Ormcnt.

The directors of the Bank of England, at their
weekly court to-day, decided to make no alteration 1
in the rate of discount, which accordingly remains
at 4i per cent. It was not anticipated that any
change would be announced just now, but a reduc-
tion to 4 per cent. will doubtless be effected within
the next fix:might, owing to the continuous im-
provement in the accounts of the Bank.
There is still a great absence of business in the
Stock Exchange, and quotations exhibit a droop-
ing tendency. Consols are maintained at the
slight advance which took place yesterday, but
most other securities, including British railways
and foreign stocks, are flat. Turkish of 1865 and
Italian of 1861 have further receded. Financial
shares present no recovery.
The applications for discount to-day are upon a
very moderate scale, and, owing to the super-
abundance of money, the best paper is taken at
1. per cent. below the Bank rate. In the Stock
Exchange short advances on English government
securities are obtainable at 3 to 311 per cent.
Consols are now quoted 89 / for money, and
89 7-16 to 9-16, or 89i, for the 9th inst.
In the foreign stock market a reduction of 1 to
per cent. is observable in Turkish of 1865,
Greek, Spanish Passive, Italian of 1861, and
Mexican. Turkish Bonds of 1862 are quoted 541 to
55/ ; ditto, 1865, 29/ to 301 ; Greek, 141 to 15 ;
Spanish Passive, 22! to ; ditto Certificates, 141 to
15; Italian of 1861, 55 to ; and Mexican, 16; to ;

United States 5-20 Bonds are in demand, and
have advanced fl per cent., the present price being
701 to 1. Erie Railway shares are quoted 50/ to
311, being I lower ; and Illinois Central, 771 to
781, showing no variation.
Anglo-American and Atlantic Telegraph shares
are steady, at 161 to 17, and bit to I,respectively.
The steamer Tanjore took this morning only
6,3001. in specie, of which 1,8001. is for Alexandria,
and 4,500/. for Hong Kong.
International Financial shares are quoted 1;..' to
11 dia. ; London Financial, 17 to 13 dis.; leneral
Credit, 21 to 1 dis. ; Credit Funnier, 31 to
dia. ; and National Discount, 81 to 9 prem.
The following resolution of the Committee has
been posted in the Stock Exchange :

Resolved,—That on and after the fith instant, Imperial
Ottoman Five per Cent. Bonds be delivered "ex
coupon ;" and that in settlement of accounta the coupon
be taken at 21. 10a. nett.

About 54,0001. in bar gold, and 20,000 sove-
reigns, received chiefly from Buenos Ayres, were
taken to the Bank yesterday, making a total of
509,0001. for the week. During the same period
no withdrawals fur export have been reported.
The China, from Alexandria, has brought
290,0001. in specie, chiefly from India.
The biddings for Government Bills on India took
place yesterday at the Bank of England. The pro-
portions allotted were—to Calcutta, 20.30.000 rs. ;
to Madras, 20.000 rs. ; and to Bombay, `►.1'5.000
rs. The minimum price was fixed at is. 101 d. on
all three presidencies. Tenders on Calcutta and
Madras at is. 1141., will receive about 43 per
cent., and on Bombay at is. 111 d. in full. Ah.,ve
thew rates in full. These results show a further
increase in the demand for remittance to the
East.

The London and North Western Railway traffic

return shows this week an increase of 2,3&41.
over last year, and the Midland, an increase of
2,9311. . . . .

The receipts of the Grand Trunk Railway of
Canada for the week ending the 15th ult. were
28,6061. sterling, being 2,2541. less than in the
corresponding week of last year.
Mr. J. E. Coleman, the liquidator of the Yank
of London, has given notice that " all acceptances
of the Bank of London to the drafts of the Bom-
bay City Bank will be paid in full, with interest
at the rate of 6 per cent, per annum, on Wednes-
day, the 17th inst."
The subjoined report on the market for Ame-
rican securities is from the circular of Messrs.
Satterthwaite and Co. :
During the latter part of last week the London market
for American securities was very inactive, owing to the
break in telegraphic communication with America. For
the last three days, however, there has been a very large
business transacted. roiled States 5-20 Bonds, on higher
i exchange, have declined during the week nearly 2 dels.,
but even at present quotations e 9 to 70, the price here is
about 1 per cent. above New York. Illinois shares have
been neglected, but show no alteration in price. In Eries
the transactions have been very numerous ; the rapid the
reported by telegraph from New York, cuing to the desire
to get possession of the stock to secure vo.es at the forth-
coming election for directors, having led to considerable
buying on this side for shipment. The latest quotation is
51 to about 4 per cent. higher than this day week. The
business in Atlantic and Great Western securities has been
on a more limited scale, and the recent rise having brought
in sellers to realise profits, we have to note a decline in
debentures to 6.'i to tB, and in consolidated bonds to 40i to
47. The demand for permanent investment, however, is
steady at these quotations. _ _ _

The rate of insurance upon the ship General
Grant, which has now been at sea 152 days from
Melbourne, with 10,500/. in gold, has advanced at
Lloyd's to 60 guineas.
With reference to the affairs of Overend, Gur-
ney, and Company (Limited), we have received the
following letter from the chairman of the defence
committee :