The Express.
London, England, 1860-11-14 00:00:00

HONEY mascam.r4(TataDAY)

Two oVsput.

The funds take show increased heaviness. A
fresh fall of about per cent. has taken place. The
principal depression however, is in the market fix
British railway stocia, especially in Lanosebire lad
Yorkshire and Midland, which hai,e fallen 1 to 1*
per cent. In every other department of the Stock
Exchange heaviness prevails. The fortnightly
settlement in shaves and foreign skate will be com-
pleted to-morrow.

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent. Rentes opened
at 69fr. 95c., but receded to 69fr. 85c., showing
a fresh reduction of 1 per cent since yesterday.
Console are officially marked 93 and 92i for
money, and 93 and 931 for the account. The
present quotations are 921 to 93 for cash,
and 93 to for the 6th of December.
The official business report is as follows —Bank
Stock, 132, 234; Three per Cents. Reduced, 911,1
1 ; New Three per Cents., 911, 1 ; Thirty Years
Annuities, expiring in April, 1886, 16 1-16 ;
India Five per Cent. Stock, 1869, 1031, 1,
; ditto Four per Cent. Debentures, 1858, 961 ;
ditto 1859, 961 ; ditto Bonds, 48. die. ; Exchequer
Bills, 3e., 2a, 4s. dia.
Foreign stocks are likewise fiat. Turkish have
declined to 1 per cent. The loan of 1854 is now
quoted 71 to ; and that of 1868, 561 to 1.
Sales are recorded as follows : —Brazilian
Old Five per Cents., 98 ; ditto Four-arid-
a-Malt per Cents., 1860, 89, 881; Buenos
Ayres Six per Cents., 96; ; Mexican Three
per Coati., 211; ditto for account, 211; Russian
Five per Cents., 105/ ; ditto Three per Cents.,
1869, 621, ex div. ; Sardinian Five per Cents.,
87 ; Spanish Three per Cents., 491 ; Turkish Six
per Ceuta, 1854, 71 ; ditto Six per Cents., 1858,
561, 57 ; ditto for account, 561.
About 5 o'clock yesterday afternoon it was an-
nounoed from the Bank of England, in the sub-
joined notification, that the minimum rate of dis-
count has been raised from 4i per cent, at which
it was fixed on Thursday last, to 5 :

"The tllifliMUM rate of discount for bills not
having more than 95 days to run is raised to 6 per
cent. " M. bliaartau., Chief Cashier.

"Bank of England, Nov. 13, 1860."

This step is taken by the initiative of the Gover-
nors of the Bank, who have power to raise the race
without convening a special court of the directors,
and who have exercised it upon former occasions, as
for example, during the crisis in 1857. Their
motive forthedeparture from the ordinary practioe
which is involved in altering the rate on any other
day than Thursday consists in the fact that
300,0001. in bar gold was yesterday withdrawn from
the Bank of England for exportation. It goes, we
understand, direct to the Bank of France ; and a
large additional sum-200,0001. or upwards—is
stated to be likely to be taken within the next day
or two for the same quarter. The drain upon the
Bank of France continues, and the pri►ate letters
state that it has become more active during the last
week. The directors of that establishment accord-
ingly offer a price for gold which attracts
it from here, where their agents have for
some time past held contracts for the sup-
ply of a large amount of the precious
metal. The Bank of England, on their part, have
no choice but to persevere in those protective mea-
sures which, in the opinion of many persons, have
already been too long delayed. Should the efflux
of gold continue, it is probable that a rise to 6i per
cent. may be decided upon as early as to-morrow.

The business at the discount office at the Bank of
England yesterday was brisk, many customers prow
fog for accommodation, in the apprehension of a rise
la the rate. In the open market the best short bills
wore readily taken at 41 per cent. There was no
sign of apprehension, and the supply of money in
the banks and other great financial establishments
is ample. All long engagements, however, are
studiously avoided.
In the Stock Exchange, the supply of money on
English government securities continues very
large, at 2to 24 per cent., owing to the indisposi-
tion of many establishments to discount any bills
that have more than a few weeks to run.

We may remark that the alteration yesterday at
the Bank of England was not known at all in the
Stock Exchange, nor in financial circles, until some
time after the oloseof business hours.
The City of Manchester has arrived from New
York with 30,0001. in specie.
The Suffolk, which was to sail from Melbourne
fur Loudon on the 27th September, had on board
73,382 ounces of gold, valued at 283,0001. In-
cluding the 801,0001. referred to yesterday, a total
of no less than 1,004,0001. in Australian gold may
be considered as on the way to this country.
On 'Change yesterday afternoon the rates for
bills on the Continent in one or two instances were
rather higher, but there was no improvement of
importance. Subjoined is our usual list :
Amsterdam, 3 months, 11.16 j! to 17 ; ditto, 3 days, 11.144
to 15 ; Rotterdam, 3 months, 1u6,1 to 171; Antwerp,
S months. 25.30 to 5 ; Hamburg, ms. beam, 3 months,
UM to 4 ; Paris, 3 days' sight, Z. 15 to 20 ; ditto,
3 mouths, 25.40 to 5 ; Frankfort-es-the-Maine, 3
mouths, 1171 to I ; Petersburg (per rouble, 3 mmiths,
35 to i ; Vienna, off. 110., 3 mouths, 13.75 to 80 ;
Trieste ditto, 3 months, 13.f5 to 80; Madrid, 3 months,
494 to 4 ; Cadiz, 3 months, 494 to I ; Legborn, 3 mouths,
25.46 to 71 ; Genoa, 3 mouths, 2556 to 80 ; Milan, 3 months,
25.571 to 521 ; Naples, 3 months, 394 to 404 ; Palermo, 3
nestle, 120/ to • , Mee ibia, 3 months, Ito ; Lisbon,
90 days, 524 to 534 ; Oporto, 90 days, 53 too.
The alteration in the money market has as yet
had little effect upon the prices of produce. The
I sugar market yesterday, however, was rather fiat.
The Liverpool cotton market yesterday was dull,
and the sales had fallen to 4,000 bales.
An instalment of 10 per cent. falls due to-
morrow on the Russian Loan, brought forward in
June last, and of 8 per cent. on Friday In the
Canada Loan of 2,800,0001.

The adviom from Sydney mention the stoppage
of MeMIL Augustus Dreulter and Co., merchants,
with liabilities amounting to 28,0001., and assets to
15,0001. Messrs. W. Jolly and Co., timber mer-
chants, had also suapended ; the liabilities in this
case were about 22,0001., and the assets 21,0004

With reference to the refusal of the Australian
banks to allow interest on deposits, a Melbourne
authority observes:
. . . . . .

On the 31st August the hanks notified their intention to
discontinue intermit on deposits, acid to alter the rates of
tbeepent ag follows :—For two mouths' bills to 7 per cent.,
far three mouths' bills to $ per math, four months' bills to
9 For cent ; cash aredite, 10 par cent ; ovenhawn accounts,
11 per eat. ; the whole advantage, as it appears to us, being
NI the side of the banks. The only good that has accrued
to the public from this eiowesset is that it releases a large
cent of eapital Wiliest* locked up as deposits upon is
the effects of which are beginning to be felt.
The result in one case, it is added, has been to
eve fresh life to the gold mining companies, which
hadbees languishing through want of capital.
- -

At Sydney the barks have come to an agreement
to make an average reduction of 1 per cent. in the
rates for axed deposits.
The Brighton Railway traffic return shows this
week an increase of 1,7811. _ _

In the afternoon the supply of Greet Western
stock having increased, the " ooutaago " upon it
rose to f per cont.
Messrs. De hi Rue and Co. have issued their
Diaries and Pocket Books for the year 1881. Their
execution, as usual, is extremely beautiful.
The settlement which commenced yesterday in.l
the market for British railway stocks shows that the
imply of stork has somewhat increased. The
! sates of " oindissastioa," however, were generally

n'oderate. The folio* it* th 0,11116 terms current
at the oommencement of business :
London sitd,Neetii. Weeks, . 346 to 8.16 per et. ecatasso,
Midland -16 tol-16 per cent. do.
Lenesshine and Yorks)** lto percent do.
Great Western
York and North Midland
Berwick -16 to 5-16 per cent. do.
South Eastern.
Kurth British. l-16 to 316 per cent. do.

TCVIDAT Ergo.
Console, which closed yesterday at 93i to for
the 6th December, opened' thin morning at the
same quotation, and closed at 931, or 93 3-18 to
5-18. For rnuney the last price was 94 to /.
After the close of the Stock Exchange, the market
was again rather i
flatter, stock being offered at 93}
for the account. The Official business report sam
follows :—Three per Cent. 0011110* for mor3i,
el 931, ,1, d, ; ditto for account (Dec. 6)„
k ; Three per Ceuta. Reduced, 91f I, ;
New Three per Cents., 911, f ' 1 kJ; Thirty
Years' Annuities, expiring ui 4641 , 16k, k ;
India Stock, 224, 222 ; ditto Five per Cent. stock,
1859, 103 k, , ; ditto Four per Cent. Debentures,
1858, 96k ; ditto 1859, 964; ditto Bonds, Bs., 4s.
; Five-and-a-Half per Cent. "aniseed" rupee
paper 101, ft.
Indian government securities were quiet, but
not lower. India Bonds were quoted $3B. to 4e. din. •
Exchequer Bills have not yet been affected by
the rise in the value of money, being quoted 3s.
die. to par
The Turkish Loan of 1858 experienced a fall of
par cent. to-day, cloning at 581 to Kt. The Loan
of 1854, after rising per cent. in the morn-
ing, receded at the close to yesterday's quo-
tation-71 to Sardinian Bonds were again '
inquired for. Spanish Deferred Three pee
Ceuta. continue in request, and were marked
as high as 41. Mexican Bonds remain flat.

Bauk shares to-day were steady. There were in-
quiries for London and Westminster and London
Chartered Bank of Australia. Peel River Land,
Scottish Australian Investment, and Red Sea Tele-
graph, were firmer, and London General Omnibus
heay. .

Victoria Government Bonds declined about i per
cent.

The closing quotations for shares in new under-
takings were as follow :—Oceau Marine Insur-
ance, 13 to 2 pram. ; Thames and Mersey Marine,
to pram. ; Universal Marine Insurance,
to I prem. ' • London and Provincial Marine, to •
die. ; East India Irrigation, u to 1-16 dis. ; and
fillwall Iron, ito pram.

MINES.-(THIS DAY.)

Two o'CLool.

The mining market to-day is steady, with a
moderate amount of business. Shares in Hark-
moor, Hingiston Downs, East Caro Brea, Wheal
Margaret, Granibler and St. Aubyn, Pro-
videuoe, Rusewall Hill and Ransom, and
South Basset mines have met with chief attention.
Prices are steady.
. . . . .

Foreign and' colonial mining shares exhibit
little alteration.
The Commissioner in Bankruptcy proposes to (
settle the list of contributories of the Little Down
and Ebber Rocks Mineral and Mining Company
(Limited) on the 22nd instant, when the creditors
are to attend and prove their claims.