The Express.
London, England, 1860-07-09 00:00:00

; 3

MONEY MARKET.-THIS DAY.

Two O'CLOCK.

The funds Lave been dull to-day, the settlement
of the aooount engaging attention. Consols, after
declining about 1-16 per cent., are now quoted tits
same as at the close on Saturday. In the share
markets prices are nominally unaltered. In every
department of the Stock Bichange business is
nearly at a stand-still.

At Paris this morning, aooording to Mr. Reuter's
telegram, the Three per Cent. Rentes were quoted
SO, being exactly the same as they closed on Satur-
day.

Consols are officially marked 934, 4, and 4 fee
money, and 935 for the account (10th July).
The present quotation is 934, or 93 5-16 to 7-16.
The official bulginess report is as fol-
lows : Three per Cents. Reduced, 935, 5, 4 ; Nov
Three per Cents., 934, 4,5, ; India
Stock, 219, ex div. ; Indian Five per Cent.
Stock, 1869, 1045, ex div. ; ditto Four per
Cent. Debentures, 1858, 964, 4 ; ditto, 1859, 965, ;
India Bonds, 3s. die. ; Five per Cent. " enlaced"
rupee paper, 97 ; ditto Five-and-a-Half per Cents.,
1024 ; Exchequer Bills, 3e. prem. to par.
The foreign stock market is quiet. Spanish
Passive Bonds continue in demand, and show a
fresh improvement, transactions being recorded as
high as 201. Turkish Bonds are steady ; the loan of
1854 is qnqted 775 to 78, and that of 1858, 605 to
61. Sales are recorded as follows :—Brazilian
Five per Ceuta., 1839 and 1859, 985 ; Danish
Three per Cents., 1825, 835 ; Spanish New
Deferred Three per Cents., for account, 394, ex
div. ; ditto, Passive, 204, 20 ; the Committee's
Certificates, 44 ; Turkish Six per Cents.,
1854, for account, 774 ; ditto Six per Cents.,
1868, for account, 605, 61, 605 ; ditto Guaranteed
Four per Cents., for account, 1025.
The scrip of the new Russian Loan has risen to
4to4prem.
The shares of the Thames and Mersey Marine
Insurance Company are quoted 4 to 1 prem.
Those of the Union Bank of London have not been
affected in price by the issue of the directors'
report.
The Niagara, from Boston, has brought 60,000/.
in specie.
The Tyne will take 24,250/. in gold for Brazil.
The Arago, from New York, has brought
30,0001. in specie, making the total imports of last
week only 124,0001., viz., 70,0001. from New York,
27,0001. from Brazil, and 27,000/. from the
Peninsula.

• The advices from Melbourne report the depar-
ture for England of the Agincourt, with 43,008 oz.
of gold, and the British Trident, with 27,000 z.,
worth together 280,0001. The Maid of Judah,
with 31,047 oe. ; the Eagle, with 33,072 or. ; awl
the Kent, with 58,986 oz., reported by the previous
mail, are also at sea ; making a total of 770,000/,
of which 256,000/ is now due.
The annual meeting of the British Nation Life
Assurance Society was held on the 30th ult. Since
the last report the directors have received 1,559
proposals for the assurance of 309,036/., and have
issued 1,096 policies for the assurance of 212,440/,
giving a new annual premium income of
6,8281. 13e. 7,505 policies are on the books of
the association, mewing 2,180,953/., giving
an annual premium income of 72,2001. 2s. sd.
The invested funds and property, irrespective of
the subeoribed capital, amount to 181,156/. la. 11d.;
and the gross annual income, from all i.onrces, is
181,1701. 20. sd. The usual vote of interest on the
paid-up capital was passed, but the directors did
not recommend at the present moment any increase
of interest to the shareholders, as the time is ap-
proaching when, as provided by the deed of consti-
tution, an actuarial investigation of the affairs of
the association must be made, with a view to a
distribution of the profits.
An extraordinary meeting of shareholders in the
London Joint Stock Bank is called fur the 18th of
October, to elect a director in the room of Mr.
W. Ormsby Gore, deceased.
An extraordinary meeting of the Ceylon Railway
Company is called for the 23rd inst., to consider "a
tender for the construction of the railway, and a
report from Mr. Hawkshaw, C.E., to the Due of
Newcastle, and a correspondence between his grace
and the directors thereon."
It is intimated that the whole of the forfeited
shares in the Cape Town Railway and Dock Com-
pany which were advertised for sale on the Ist
lult. have been allotted, and that the certificates for
them are now ready for delivery.
Commenting upon the change which has taken
Iplace of late years in the course of investments, to
the prejudice of the English funds, the Money
Market Krim of Saturday has the following :

One of the latest illustrations of this change in 'tie course
of investments was recorded in the .Varlet Krim
of the 23rd June, when it was mentioned that the Equitable
Assurance Society has formally adopted a resolution for no
longer confining their investments to the English Funds.
The terms of the resolution adopted will admit a greet
variety of securities for future investments. including—l.
Indian Government Securities. 2. "East India Stock ;"
and 3. " The Bonds, Mortgages, Debentures, or other ap-
proved securities of any" dividend-paying "companies
corpomted by special act of parliament." In this Latta; cate-
gory will be embraced British Railway Stocks and Bebe*.
tares, and many other securities. The effect of the resolu-
tion is practically retrospective ; and it is understood that
during the last month the society in question has sold a
considerable amount of British government stock, with a
vies to re-investment in other securities. The only stock
hitherto held by it was, as already intimated, the British
funds, of which it had accumulated no less than 3,360,0001.
It is not difficult to understand the comparative dulness of
the funds. We may point out that if these securities do
net henceforward maintain permanently the high range of
prices witnessed a few years ago, the circumstance denotes
no decline in the credit of the nation, but is the natural
effect of the increased security awl increased relative sp.
preciation of other investments, which offer a larger return,
and of exchanges into them from the funds.

SATURDAY Evesma.
Consols, which closed yesterday at 93f to * ex
div., for the 10th of July, opened this morning at
the same quotation, and closed at 93 5-10 to 7-16,
or 93g. After the close of the Stock Exchange
stook was offered at this price. A few transactions
took place for money. The official business reports
as follows :—Three per Cent. Consols, for money,
93f, 4, ex div. ; ditto for account (July 10), 93f,
ex. div. ; Bank Stock, 230 ; Three per Cents.
Reduced, 931, ; New Three per Cents.,
93f, ; Indian Five per Cent. Stock, 1859,
1044, f, ex div. ; ditto Four per Cent. Deben-
tures, 1868, 96, 3 ; Five-and-a-Half per Cent.
"enfacad" rupee paper, 102, 1014 ; India Bond;
is. dis. ; Exchequer Bills, 3s. prem.
Fur the 9th of August the Isa price of Consuls
was W.* to g, the " continuation" being per cent.
Indian government securities remain quint. India
Bonds were marked 7s. die. Exchequer Bills were
quoted pm. to 3s. prem.
The foreign stock market was steady.
In the market for bank shares the only altera-
tion was a further decline in City Bank. London.
Discount and National Discount shares were rather
firmer. Peel River Land stock was inquired for.
Crystal Palace shares were rather flat.
The closing quotations for the shares iu new
undertakings were as fo.low :—Ocean Marine
Insurance, 14 to 14 prem.; Thames and Mersey
Marine, f to 1 prem. ; Universal Marine Insurance
to 4 prem. ; London and Provincial' Marino, g to
du ; South Eastern Railway of Portugal, to
prem. ; London and South African Bank, die.
to par ; Bank of Turkey, 14 to 14 dis. ; City of
London Brewery Preference, par.