The Express.
London, England, 1860-07-02 00:00:00

MONEY MARKET.-THIS DAY.

Two o'CLooi.

The decided improvement in the weather has
been attended with an improvement in the Stock
Exchange. The funds have risen about i per cent.;
British railway stocks and the securities of the
Grand Trunk Railway of Canada are likewise better.
There is, however, no revival in business.
At Paris this morning, according to Mr.
Reuter's telegram, the Three per Cent. Rentee
were quoted at Mfr. 45e., being rather more than
per cent. better than on Saturday. The Bourse
will be closed to-morrow.

Consols are officially marked 934 and 4 cx
div., for the account (July 10). The present
quotation is exactly 934, or 93 7-16 to
9-16. The official business report is as fol-
lows :—Three per Cents. Reduced, 934, 4, 4 ;
New Three per Centa., 934, 4,4, 4 ; Five-
and-a-Half per Cent. " enfaced" rupee paper,
102 ; Indian Four per Cent. Debentures, 1868,
964 ; Exchequer Bills, 4e. prem.
The foreign stock market is firm. The
principal inquiries have been for Turkish Bonds,
which have risen 4 to 4 per cent ; the Loan
of 1864 is quoted 774 to 78 ; and that
of 1858, 60 to 4. Sales are recorded as follows :
Brazilian Old Five per Cents., 984, 99 ; Chilian
Three per Cents., 684 ; Dutch Four per
Cent. Certificates, 1014 ; New Granada Ac-
tive, 144 ; Peruvian Uribarren Four-and-a-Half
per Cents., 814, ex div. ; Portuguese Three per
Cents., 1853, 434, ex div. ; ditto, for account, 44 ;
Russian Four-and-a-Half per Cents., 93, ex div. ;
Sardinian Five per Cents., 814 ; Spanish
New Deferred Three per Cents., 394, ex div. ;
Turkish Six per Cents., 1864, 774, 4 ; ditto for
account, 774 ; ditto Six per Cents., 1868, for
account, 604 ; ditto Guaranteed Four per Cents.,
1024.

The shares of the Thames and Mersey Marine
Insurance Company, the settlement in which will
take place to-morrow (Tuesday), are quoted li to
ii prem.

The Africa, from New York, has brought
40,0001. in specie.

We are informed that the allotment letters of the
Russian Loan are not likely to be issued before
Wednesday next, as they must partly depend on
the amount of applications made to Messrs. Hope
and Co., in Amsterdam.
The following statement has been posted in the
Stock Exchange by authority of the Committee :
From the inquiry instituted by the committee with
Mtto the Russian Three per Cent. Loan of twelve
os, contracted by Mews. Thomson, Boner, and Co.,
of Bt. Petersburg, and Mr. F. Mart Magnus, of Berlin, in
August, 1859, stated to have been wholly placed, it has been
ascertained that five millions thereof, not having been sub-
scribed for, were retained by the Russian government.
Friday, June 29, 1860.
The Prince of Wales has arrived from Melbourne
with 132,000/. in gold.
The arrivals of specie last week amounted
to no less than 925,000/., including 452,0001. from
Australia, 248,000/. from America, and 225,000/.
from the West Indies and Mexico.

The effect of the embarrassments in the leather
trade is shown in the stoppage of three
firms. The houses in question are these of
Messrs. Wm. Francis and Co., hide-brokers, of
New Weston-street, Bermondsey ; Mr. Joseph
Hooper, leather merchant and tanner, of New
Weston-street, Bermondsey ; and Messrs. Hooper
and Parkinson, bide and bark factors, oi Seething-
lane and Leadenhall-market. The aggregate of the
liabilities will be considerable. The circulars
issued in the two first-mentioned firms are as
follows:

3, New Leather Market, Bermondsey, S.E.
Jane 28, 1800.

Air,—We inform you with much that we are under
the necessity of suspending payment. Our books are placed
in the heeds of Mr. Joseph Inewyer, 173, Fenchurch-street,
accountant. and at the earliest possible day a statement of
our affairs will be submitted to you. Meanwhile, pending
the making-up of the accounts, we claim your kind forbear-
Inoo.—We are, sir, your obedient servants,
Wu. FRANCIS and Co.
New Weston-street, London, June 28, 1880.
Air,—l am under the painful necessity of informing you
that lam obliged toizend payment. A statement of my
affairs will very speedily be submitted to you by Mr.
Joseph /lawyer, of 73, Feneliurch-street, accountant, who
is in possession of my books for that purpose. I therefore
beg the favour of your indulgence meantime.— I AM, sir,
your obedient servant, JOREPII HOOPIR.

The annexed resolutions have been adopted by
the Stock Exchange Committee :
"Ex dividend" and "ex interest" quotations.—Re-
solved,—That the dealings in all shares shall be ex dividend
from the beginning. of the account following that in which
the dividend may have taco declared; and ex interest from
the beginning of the account in which the interest may be-
come payable.
Friday, June 28, 1860.
Grand Trunk of Canada.—Notwithstanding that the
Grand Trunk Railway of Canada Company has given notice
that the interest on the ordinary_ 6 per cent. bonds, due
July Ist, will not be duly paid. Rwulved,—That the ac-
crued interest on the said bonds be paid by the purchaser
up to the day for which the bargain was made.
Prissy, June 28, 1860.
A special general meeting of the London, Chat-
ham, and Dover Railway Company is called for the
13th of July, to authorise the company to borrow
on mortgage the sum of 26,6001.
The sum of 203,0001. has, up to this date, been
paid to the India-office on asioun of debenture
capital of the Scinde Railway Company.
The sum of 110,4191. has just been paid to
the India-office on account of capital of the Pun-
jaub Railway, being the proceeds of the call of 21.
land payments in anticipation.
The bill of the Isle of Wight (Eastern section)
Railway Company passed the committee of the
House of Commons on Friday.
The Sambre and Meuse Railway Company invite
applications from shareholders for a new issue of
300001., bjper cent. preferential shares.
The liquidators of the Adelaide Land and Gold
Company announce a second instalment of 13s. per
share.
With reference to the enormous stock of cotton
at present lying at Liverpool, the Money Market
Review has the following :

The warehouses are crammed full, and it has become nor-
oessary to send large quantities of cotton across the river
Ito Birkenhead, for storage accommodation. We hear of in-
stances in which cotton has been carted for miles out of
Liverpool, to bud a temporary shelter. The total stock of
cotton in Liverpool, on Saturday list, was 1,307,835 bales,
being an increase of 552,193 bales, compared with that at
the corresponding period of last year. Taking the average
weight of a bale of American cotton at 4501bii., and de
average value at, say
.sd. per lb., it follows that we
have now invested in cotton m Liverpool the enor-
mous sum of about 1211 minions sterling, being about five
millions more than at the same period in 18511. These esti-
mates of value are of course framed upon rough data, but
viewing them in conjunction with the increase in the stocks
of other imported commodities, it is easy to understand the
effect produced on the money market. We hold five mil-
lions worth of cotton more titan we did at this time last
year, and hail we not taken cotton we should probably have
received a like amount of gold. The question of the policy
of our saddling ourselves with such a large stock of cotton in
We of high estimates of the probable yield of the next crop
in the United State is one upon which a good deal of dif-
ference of opinion must be expected to prevail, hut which
some persons discuss with a good deal of anxiety. Bence
the above was written we learn by electric tel h that
the total computed stock of cotton in Li on Friday
evening bad increased to 1,333,400 bales.

SATURDAY EVINTING.
Consols, which closed yesterday at 93/, "buyers,"
ex dlr., for the 10th July, opened this morning at
931 to 1, and closed at 93 5-16 to 7-16, or 951,
"rather buyers." The official busineee report is
as follows :—Three per Cent. Consols, for account
(July 10), 931, ; Three per Cent& Reduced, 931,
93 ; New Three per Ceuta., 93, 1, ; Five-and-a-
Half per Cent. enforced" rupee paper, 102,
101} ; Indian Four per Cent. Debentures, 1868,
961 ; India Bonds, 10a., 7a., dia.
The Indian rupee paper remains fiat. The Five-
and-a-Half per Cent. was marked to-day as low as I
101 i. The Indian Five per Cent. stock of 18591
was quoted 1061 to 1 ex dir. for the account •
India Bonds, 10e. to 7a. die.; and Exchequer Bills,
par to 3a. prem.
The foreign stock market was very quiet. Owing