The Express.
London, England, 1856-06-26 00:00:00

REDUCTION IN THE BANK RATE OF

DISCOUNT.

Two o'CLocL

The Bank of England Directors have to-day re-
duced their rate of discount from 8 to 4} per cent.
It is believed that • further reduction to 4 per cent.
will be made very ahortly. The announoement
_ _

has been followed by the usual realisations on the
part of speculators for a rise, and thus the funds are
quoted 1 per cent. lower than they closed yesterday.
Consols opened at 941 to 1 ex di,. for the 10th
July and are now quoted 941 to /. The Three per
Cents. Reduced have been dealt in at 941 to 93;
the New Three per Cents. at 951 to j ; Bank Stock,
at 218; Exchequer Bills at 10s. to 14s. prem.;
and India Bonds at 14s. prem. The New Loan scrip
is quoted 3/ to 31 prem.
Turkish Stocks remain firm at the closing range
of yesterday, the Six per Cents. being quoted 105
to 1, and the Four per Cent.. 1061 to 108; but
the former touched 1051 this morning. Other
foreign securities are also firm, with, in some cues,
an upward tendency. The sales include—Brazilian
Four-and-a-Half per Cents. at 97; Buenos Ayres,
82 to 81; Danish Five per Con* 1021 to 103; Dutch
Two-and-a-Half per Ceuta., 881 (exch. 128.); Rus-
sian Five per Cents., for June 30,1091; ditto Four-1
and-s-Half per Cents., 981; Sardinian, 92 to .221;
Spanish Old Three per Cents., 47j; and the Com-
mittee's Certificates, at 71 and 7 per cent., being
considerably higher.

The bulIC of the 197,0001. in spells ex the Africa
was yesterday purchased by the Bank.
The ship Caroline has arrived from Sydney, but is
not believed to have any gold on freight.
The corn market yesterday wri rather dull, owing
to the fine weather, but Monday's advance was main-
tained. No lees than 46 floating cargoes of grain
have arrived at port of all sines Friday last, sir-, 23
of wheat, 20 of Indian corn, 4 of rye, and 1 of
barley.
It le stated that the Australian mail contract has
bcen awarded to Merin. Patrick Henderson and Co.,
of Glasgow. The average speed of the vessels is to
be 101 miles per hour. It also misted that the
service will commence on the let of October,
and that the Cape of Good Hope route will be taken
for the first voyage or two, until the return vessels
are able to take up their station at Suez. The sum
for which Messrs. Henderson and Co. undertake the
service is, we believe, 166,000/. per annum.

The meeting of the South Australian (Land) Com.
pony was held yesterday. The report was satisfactory,
showing the gross revenue to be 30,7831. Ss. 9d. The
net income for the past year was 26,3831., out of
which the directors recommended a dividend at the
rate of 71. per cent. rr annum. The annual valuation
of the company's property was made on the 31st of
October, and amounted in the aggregate to 428,0961.
The report was adopted.
It appears that the shareholders in the Royal
Swedish Railway Company have responded liberally
to the invitation of the new board, and have sub-
scribed for a large prorartion of the new preference
capital. Applications for the resides of the new shares
will, we understand, be shortly invited from the
Obligation holders and from the general public.

The 42nd annual court of the Scottish Widows'
Fond and Life Assumes Society win lately held
at Edinburgh. The Marquis of Tweed&le pre-
sided. It appears from the annual report that the
amount of insurances passed and carried through in
the year 1866 was 890,02014 that the capital, res•
limed and accumulated, amounted at the close of 1855
to 2,919,6891. 2a. 10d.; that the annual revenue
amounted at the same date to 385,9881. Os. 4d.; and
that the deaths which had taken place in the year
1855 amongst those whose lives were assured by the
society numbered 126, bring 17 less than in 1864. The
report further stated that the direstors had, during the
last few months, made a thorough examination into the
state of the society's investments, and had found them
to be " in aU reeFots most satisfaistary." In his epeah
the Marquis of Tweeddele congratulated his and once
upon the gradually icerealing prosperity of the
society, and mentioned that he had himself insured
in the society for 1,0001. in 1817, whimsies the sum
that would be paid were his death now to take place
would t 3 2,1731. The directors' report was oarried
by soolamation.

Amongst the new projects which are encouraged
by the Limited Liability law is "Bernard's Patent
Wains Bc It and Shoe Company." It is contended
that by means of a brautifel series of patented ma-
chinery, invented by Mr. Bernard, a heavy saving in
the manufacture of toots and show can be attained.
The capital is Sxed at 120,00 W., with power to in-
t:ream to hal/a million. The shares are of 101. each,
and the first instalment is to bo 51. per share. Sir
Robert W. Carden is the chairman.

The Adrairslty have accepted the undermentioned
ships for the conveyance of stores--via., the Trojan.
for Barbados', Bt. Lucia, and Grenada; Ann, for
Bermuda; •Blopeth, for Trinidad; Champion, for
Malta; Caroline, for the Cep" of Good Hops; Japan,
for Mauritius; Indemnity, for Melbourne; and the
Derwentwater, for Hobart Town.

WIDJPAT EVINIXO.

The funds remain extremely firm, with an improv-
lug tendency. In the afternoon a further advano•'
of per cent. was attained, owing to reports which
obtained credence in very good quarters, that the
Bank will tc-morrow reduce its rate of discount. It
is evident that a reduction in the rate to 4 per out.
Iv merely a question of a week cr two, as the avail-
able means of the Bank are increaming with extraor-
dinary rapidity. The approach of Saturday, when
another %Ailment of one million must be paid on
the new loan, exercises no influence on the money
market. The supply of capital war to-clay abundant,
and the rates in the disorient market continuo de-
cidedly below those of the Book.

Console opened at yesterday's closing quotation of
941 to / ex div. for the 10th of July, and were last
quoted 941 to 1. The chief cheek to the strong up-
ward tendency of prices rests with the embarrassed
appearance of financial affair@ in France. The official
hardness report is as follows :—Tlues Coat. Con-
sols, for acom permt, 10th July, 941, 1,1, 1 ex die.
Three per Cent. Reduced, 941, 941, 95. New Three
per Gets., 961, 951, 951. Thirty Years Annuities,
expiring in October, 1859, 3 1 16. Thirty Years
Amnia's, April, 1895, 1711-18, 171. Bank Stook,
217, 218. India Bonds, 146. prem. Three-and•a-
Half per Cent. Exchequer Bonds, falling payable in
1858, 991, 991.

Exchequer Bills remain firm, at 10.. to 13.. prem.
Exchequer Bonds were rather higher, at 991 to I.

The scrip of the New Loan was last quoted 31
to 31 prem.
Foreign stooks of all descriptions continue firm, but
the rapid rise in Turkish Beads forms still the most
remarkable feature of the market. The Six per
Cents. touched to-day 1031, and closed at 103 to 1,
whilst the Guaranteed Four par Cents. were marked
es high u 1081, and left off at 1051 to IN. The
day's rise in the former ogee was 11 to 11 per cent.,
and in the latter about per cent. Russian stocks
advanced 1 par cent. Banos Area Bonds were
also in active request, and were marked
79 to 82: the last transaction previously es
ported in the official list was at 78. New
Granada Bonds continue to meet with attention.
The amount of bills drawn by the But India
Company on the respective presidencies, from the
9th to the 25th lust. (this dsy), is as follows

£ o. 1&'. tf 'schuss.
rat
9,272 4 11
Bombay
Tatot 91,888 13 3

- -
Relative to the market fat American securities Mr.
R. F. flatterthwaite reports as follows:
Dories the Nat week there has bees a met satire Nasky fa ant
eter Merleas salmi MO, et which the toesket le sow eery melt
eisandenhthe tew still as lessd
at we held ex tan tam. The bawds
Mete dempd ars thew the Pessaytwed• Casual. New If I
Pa widish antral. sad New Talk awl Nee. all well esta.
Wetted mak
Pee allsels Mil Wee s Mask tat at the ems ties ate
Ewes freely sanded than Mee shammed.