The Express.
London, England, 1859-04-13 00:00:00

MONEY MARKET.-THIS DAY.

Two o'CLooc

The funds to-day have been favourably influenced
by the considerable rise which took place yesterday
afternoon on the Paris Boone, where the Three per
Cent. Rents closed at 68fr. for money end
67fr. 860. for the account. Consols, how-
ever, exhibit an improvement of only 1-16 to
1 per cent., the beet prices of the morning having
scarcely been supported up to the present hour. The
cuLopistondo_ovfenthetieandea:urews.
fortnightly settlement in shares and foreign stooks
has commenced, and has formed the principal oo-
a considerable improvement.
No telegrams have yet been received from the
YEnglllsreslisbhavPree exnpechrienancedd
Paris Bourse of this day.
Consols have been dealt in between 951 and 951
for the account, and are now quoted 951 " sellers."
For money the present price is 951 to 1. Bank
Stock has been dealt in at 223 to 2241; the Three per
Cents. Reduced at 94; the New Three per
Cents. at 94 to 941 ; the Indian Four per Cent.
Debentures of let year, at 96/ ; India Bonds, at
par to 7s. prem. ; and Exchequer Bills, at 33e.
to 365. prem.
In the foreign stock market the principal feature
has consisted of sales of Sardinian stock, which has
sustained a further considerable fall, having been dealt
in at 77 to 79. Turkish securities have advanced
to a per cent., the Old Six per Cents. being now
quoted 871 to 881 ex div., and the New Loan, TII
to 78. The latter is in chief demand. Portuguese
Bonds are inquired for, and other foreign stocks
steady. Sales are recorded as follows :—Brazilian
Four-and-a-Half per Cents., 1868, 94/ ; BIOTIC/
Ayres Deferred Bonds, 181; Dutch Two-and-a-Half
per Cents., 641 (exchange 12B.); Mexican Three
per Cents., 21 ; Peruvian Dribarren Four-and-
a-Half per Cents., 82; Anglo Peruvian Three
per Cents., 691 ; Portuguese Three per
Cents., 1853, 45/ ; Marian Five per Ceuta,
1101,110; ditto Four-and-a-Half per Cents., 991;
Sardinian Five per Cents., 77, 79, 78 ; Turkish Six
per Cents., 1864, 88, 87!, 881 ; ditto Six per Cents,
1858, 77f, 77/, 771, 78 ; ditto for account, 78 ; ditto
Guaranteed Four per Cents., 103, 1021.
The steamer Royal Bride has reached Bristol from
Melbourne, with gold valued at 117,0001.
At Vienna on Monday a further considerable fall
took place, owing, it is said, to a rumour of a forced
loan, but it is believed that a rebound has occurred
on this day's Bourse.
In the discount market the demand continue
active, but the rate for good bills does not exceed
21 per cent. At the Bank the applications are still
steady, but not large. In some quarters more dis-
position is shown to procure accommodation upon
long-dated bile, owing apparently to an apprehen-
sion that the drain of gold and the pending loan
requirements may ere long have more effect upon the
market.
The Hebrew members of the Stock Exchange rea-
sonably complain of the arrangement by which the
last day. (the 19th inst.) for sending in applications
for the Indian loan is fixed for a Jewish holiday.
As Tuesday the 19th, and Wednesday the 20th, are
the Passover holidays it has been suggested to the
authorities at the India-office that Thursday, the
21st, might advantageously be selected ; but &reply,
received last evening, intimates that no alteration
can be made. Probably no loan has ever been con-
tracted without the Hew dealers having • consi-
derable share in it. It may be said that tenders can
be sent in on the 18th; but in the present state of
the political world applications for large amounts
will probably he held back until the latest hour.
Some inconvenience is also involved in the ar-
rangement that the first payment of weird' of
three millions on the loan shall be made five days be-
fore the date fixed for payment of the 2,000,0001. of
Exchequer Bonds due on the Bth prox. These large
payments into the Bank and back again can scarcely
fail to have a disturbing effect.
It is suggested that, as the Council for India have
determined upon boning debentures transferable
either by delivery or by deed, at the option of the
subscriber, they might make arrangements for the
future conversion of the former into the latter. The
views of persons wishing to put these debentures
into the names of trustees would thus be promoted.
The 166,0001. in Australian gold by the Roxburgh
Castle was purchased yesterday for the Continent, as
well as the bulk of the 69,6001. by the Asia, from
New York.
Government have already engaged nearly 400,0001.
in silver for the next Calcutta steamer,
In the foreign exchanges yesterday afternoon the
principal feature was a further extraordinary rise in
the rates for bills on Vienne, which were quoted on
Friday last 11.30 to 11.40, and this afternoon 12.5 te
12.10. The difference amounts to upwards of 6 per
cent. The rate on St. Petersburg has declined. The
other exchanges were firm.
The following letter from the London manager of
the General Bank of Bwitserland annonncea that
arrangements have beeninade to resume payment at
the Parts establishment, where alone a suspension
had taken plaoe. This fact, however, does not re-
Save the English directors from the moral obligation
of instituting and publishing the results of an inves-
tigation into the position of the undertaking. When
a bank stops payment, if only temporarily, within
a fortnight after the declaration of a dividend, there
is surely sufficient prised facie grounds for a
scrutiny. The shareholder—and it may be
the customers—have derived • certain degree
of confidence from the belief that the affairs
of this establishment commuded the vigilant atten-
tion of such men as Mr. Charles Chips, a director
of the South Eastern Railway ; Mr. W. tioholefield,
M.P., chairman of the Bank of Birmingham ; Sir
Robert W. Carden, chairman of the City Bank ; and
Messrs. Joseph Esdaile and John Stewart, both direo-
tors of the London and Westminster Bank—all of
whom are members of the " Council of Administra-
tion." In cases of this kind, when a catastrophe
occurs, the sufferers are scarcely likely to derive com-
plete satisfaction from the exhumation of a proteit
discovered by the archives of the office to have been
recorded by a section of the directors against a ques-
tionable act on the part of the mansgemeut—en act
which went forth to the world stamped by the entire
board.
TO THE EDITOR. OP THE DAILY NEW&
810.—Itaferring to your remarks of this morning, I beg te
say that having been in Paris yesterday, I found that it was
the intention of the directors there to resume payments to-
day or to-marrow. The temporary euspension has applied
eely to Parts, and not to the Stip Social at Geneva, or the
London agency, which have met all their payments In comm.
In feet, ate ageacy had not been ennead of any %steatite
or of any necessity for the measure adopted in Paris imiii
the morning after it took plane In Worm to you re-
marks as to the remelt dividend, I may state that the English
directors unanimously opposed it, and_ recorded their proxies
against it, on the ground that thoogh the accounts as sub-
mitted to them sppwered to tunifr It, each large 1010,011,
had been advanced by the Paris branch ea inconvertible
securities, that it was underbabis esti such were realised to
declare • dividend.-1 am, do.,
F. FRISILIORATR, Manager.
General Beak of Switzerland, London Agency,
2, Royal Exahange-buildingx April 12.
At St. Petersburg the price of tallow has risen to
1871 ro., for August delivery.
The steamer Behar, with • mail for Bombay,
reached Malta from Southampton on the 8:h inst.,
and left again for Alexandris.
The Four-and-a-Half per Cent. Bonds of the East
Indian Railway Company, payable this year, were
officially marked in the Stock Exchange yesterday.
1001. These bonds carry the option of conversion into
6 per cent, shares at any time doting their currency,
and only a small portion now remains unconverted.
The Four-and-a-Half per Cent. Debentures recently
issued were quoted i to 1 pram.
Another 'adieu of the foreign redeemable debt of
is to take plus at Madrid on the 29th inst.

Advices from the alti state that the navies,-
tient may now bo ocurifßetedc ea re (paned in teat rev.
Steamers bays °own( laced pljiaff beterern Lubeck men the
ports of Swede; Gad betimes Hamburg sed Norway. Is
the COWSs of the ye*: net fewer than el: gamuts wale
ply ragelarly between. Lubeck nob Bt. Pe*sharg.