The Express.
London, England, 1860-11-29 00:00:00

MONEY MARKET.-(THIS DA Y,l

REDUCTION IN THE BANK RATE OF
DISCOUNT.
Two o'Cfixxx.
The directors of the Bank of ' England, at their
weekly court to-day, have reduced their minimum
r►te of discount from 6 to 5 per cent.
The announcement has bad no effect on the
funds, which remain firm, at yesterday's improve-
ment. Theprincipal business in the Stock Exchange
has beenin oormexion with the fortnightly settlement
in British railway stocks. Prices in this depart-
ment
exhibit a further improvement. There is
also a fresh advance in the stock of the Grand
Trunk Railway of Canada.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes were quoted
70fr. 25c., being sc. better than yesterday.
Consols are officially marked 931 and for
money, and 931 to I for the account. The
present quotations are 931 to 3 both for
money and the 6th of December. The official
business report is as follows:—Biulk Stuck,
232 ; Three per Cents. Reduced, 92, 913 ;
New Three per Cents., 911, 92 ; India Five per
Cent stock, 1859, 104, ; ditto Foar per Cent.
Debentures, 1858, 961 ; Five-and-a-Half per Cent.
" enlaced" rupee paper, 1011 ; Exchequer Bills,
Is., 4s. die.

There is no variation of the slightest importance in
foreign stocks, with the exception of an improvement
in Portuguese. The Turkish Loan of 1354 remains
quoted 73 to }, and that of 1868, 581 to j.
Salem are recorded as follows : Brazilian

per Cents., 1860, 89* ; Dutch
Four per Cent. Certifiostes, 100 ; •Portuguese
Three per Cents., 1853, 46k, I, ; ditto Three
per Ceuta., 1856, 1857, and 1859, Odd ; Spanish
Three per Cents:, 50 ; Turkish Six per Cents.,
1858, 581, I; ditto for account, 58*; ditto Guaran-
teed Four per Ceuta., 102.

You' o'CLocnc.

Console are quoted precisely the same as at 2
o'clock—viz., 93 to 2, both for money and the
account.

The agitation observable in financial circles
at Vienna contributes to keep up a feeling
of apprehension with regard to the probable
movements in Northern Italy in the spring, the
more especially as it is stated that an additional
battalion is to be incorporated into every regiment
in the French army. The state of the Austrian
finances, however, 1.4 quite sufficient to account for
any adverse movement of the Vienna Bourse.
A prominent and serious feature is the extensive
speculative transactions carried on between the
metropolitan and provincial markets by the dealers
in the stocks of the Midland and Lancashire and
Yorkshire companies, the extreme fluctuation in
which has amounted to between 8 and 9 per cent.
within the last fortnight. Impartial observers
blame the dealers for turning in reality extensive
speculators. Many of the transactions appear to
partake of a gambling character.

At Vienna on Tneeelay the increase of uneasiness
in financial circles was indicated by a fresh rise of
1} to 2 per cent. in the exchange on London. The
movement was from 137.25 to 139.25. The total
depreciation in the Austrian currency during the
last week amounts to no less than 5 per cent.
The Hammonh., from New York, has brought
9,0001.
The exports of the month of October were
q per cent. larger than in the corresponding
month of last year. This statement shows that
there has not been a maintenance of the re-
markable activity exhibited in the previous
month, when the increase compared with the
corresponding month of 1859 was 17 per cent.
For the ten months of the present year
the aggregate shipments of home produce and
manufactures have reached 112,956,5271., being
4 per cent. more than in 18i9, and 17 per cent.
more than in 7858. The entries of foreign and
colonial produce for consumption have greatly
increased, at the same time that we are importing
foreign breadstuffs very largely. This points to an
adverse balance of trade.

The adjourned meeting of the creditors of Messrs.
J. and E. Williams, sugar agents, was held yester-
day. At the previous meeting a committee of inves-
tigation was appointed, whose duties were to sneer
tam more particularly the state of the came with
regard to the stoppage of goods is traewitu.
From the investigations made, it appease
that the goods expected to be kept back
represent 5,6001., but even in the event of this
course being adopted the estate would not be pre-
judiced to a greater extent than 1,5001. The legal
representative of Messrs. Williams proposed the
payment of a composition of 14a. 6d. in the pound.
After some discussion it was agreed to accept Hs.,
payable as follows :--ss. at one month, ss. at two
months, 2s. 6d. at four months, and 9s. 6d. at six
months, the last instalment to be secured. The
following forms part of the resolution passed ao
cepting this composition, and was appended oa
behalf of the firm, viz.:

All of the Means. Williams' creditor' who have stopped
goods to °mein to state their individual case, to be ap-
proved of by Mows. Williams' soheitor and submitted to
some counsel to be mutually agreed on • both News. Wil-
liams and the crediton to be bound by nth counsel's
opinion.

The dividend and other paymenta to be recom-
mended at the annual meeting of the Peninsular
and Oriental Steam Navigation Company amount
to 5 per cent., which, added to the dividend of si
per oent. declared at the half-yearly meeting in
Jnne last, makes int per cent. for the year.
The directors of the Pernambuco Railway Com-
pany have announced a call of 21. per share, payable
on the 19th of January.
The directors of the Royal Portuguese Railways
Company advertise the final call of 900 francs
(12Z.) per share, payable from the Ist to the 15th
Jan. The coupon of 8 francs per share, due Jan.
1, will be received in part payment.
At the meeting yesterday of the Imperial Conti-
nental Gas Association, a dividend of 11. 15s per
share for the half-year wee declared.
In the market for British railway stocks yesterday
morning the rates of " continuation " were vary
moderate, being as follows :
London and North Western . 3-16 to I per ct. coatis/Miss
Great Western
Lancashire and Yorkshire
Berwick
3.165-'

Ittihad -16 ic; 5-16 per cent. do.
York and North Widand -16 to 5-16 per cent. do.
Ildedonian l-16 to 3-16 per cent. do.
3-16 to 1 per cent. do
3 to j per cent. do.

South Lidos

per Dent. da

... 1 Great Northern

In the afternoon Midisad stock became very
scarce, and the rate was " borrowers to I bask-
wardalion." The " continuation " on Great Wee-
tern stock declined to 3-16 to I, and that on Lan-
cashire and Yorkshire to to 3-16 per cent.
It is intimated by circular that the business as
public accountants, hitherto carried on by Messrs.
W. and A. Cooper will in future be conducted
under the firm of Cooper Brothers and Co.
Annexed is a weekly report on the market for
leather and bides :

The le►ther market was not largely supplied at Leaden•
hall on Tuesday. The &mead was not active, but the Waal
of business donne the past week is about an avenge for the
time of year. Prime are very littJe altered, but not gees•
rally firm. The hide sales of last Thursday were dull, sad
prima tended downwards. The burins* does was not large.
Market hides nay again be quested *lightly lower.

WiromuDAT E'vsnro.

In the Stock Exchange the rate for short loans
on Consols was 21 to 3 per cent.
Consols, which closed yesterday at 931 to if
for the Bth December, opened this morning at fat,
" sellers," and closed at 93 11-18 to f. For money
the last price was 93g. After the cicee of the
Stock Exchange the price improved, to 93 11-16 to
13-16, or 931, for the Cth prox., and 94 to (or