The Express.
London, England, 1857-07-03 00:00:00

MONEY MARKET.-THIS DAY.

Two o'CLocw.

Owing chiefly to the improvement which
is understood to bo taking 'place m the
position of tho Bank, tho funds are today
better, showing a rise of about 3.16 per cent.
The share markets are also firmer, especially for
Canadian securities. _

Consols arc now quoted 924 " buyers", ex div. fur
the 9th July. The Three per Cents. Reduced
have been dealt in at 924 to ; the New Three per
Cents. 924 to 4. Bank Stock, at 213 to ; Exchequer
Bills at 4s. dui to par; and India Bonds at og. dig.
Turkish stocks are in request, and other foreign
descriptions steady. The morning's sales comprise
Brazilian Old Five per Cents. at 1004 ;
Chili= Six per Cents., 1024 ; ditto Three
per Cents., 77; Mexican, for account, 224;
Peruvian Four4nd•a-Half per Cents.,foe account, 80;
Portuguese Three per Cents., 1863, for account,
43 ex. div. ; Russian Four-and-aMulf per Cents., 061
to 961 cx. div. ; Spanish Deferred, 251 tot ex div.;
ditto Passive Bonds, 6: to 64; the Coupon Certify.,
84 per cent- ; Turkish Six per Cents., for account,
961; ditto, Guaranteed Four per Cents., 102 ; ditto,
for account, ton.
The funds to-day were sensibly firmer. In the
morning a recovery oft to per cent. was attained ;
and although some of the speculators seemed dis-
appointed at learning that the weekly court at the
Bank had broken up without reducing the rate of
discount, the market retained steadiness, and the
closing quotations were 1 per cent. above those of
yesterday. The operators for the rise in Consols are
disposed to h 'lie that the preparations already made for
the settlement on next Thursday will greatly alleviate
the pressure which might otherwise have been ex-
pected from the acknowledged extension of specula-
Soo in this branch of the market.

In refraining from reducing the rate of discount
yesterday the Bank directors have doubtless acted
prudently. Paring last week, the figures re-
lating to which must have engaged their more
immediate attention, the disbursements on ac-
count of government salaries and other pe-
riodical payments must, as we pointed out yesterday,
have swallowed up the bulk of the additional re-
sources placed at their disposal by the influx of
" deposits ;" and to this cireumstanee their decision
to postpone a reduction of the rate is probably in
some measure due. Nevertheless, it is evident that
spoil the whole the position of the Bank is im-
proving, and more especially as regards the stock of
min and bullion. This item stood in the last pub-
Ikked return at 11,172,8621. ; last week an addi-
tional total of about 200,0001. is known to have been
pwrehued by the Bank ; and this week some further
Laportant amou ate have been scut in. For instance, as
aueh as 150,0001. in gold was yesterday purchased by
the Bank out of the remittances by the steamers At-
lantic and Vanderbilt, and it is thought that more
will be sent in to-day. This is in addition to the
67,0001. mentioned as bought by the Bank on Wednes-
day and on Tuesday. It is very satisfactory to find
that even the unexpected addition just made to the
womittances of silver by the Colombo for the East (us
referred to below) has failed to prevent this steady
flow of gold into the Bank.
The commercial demand for money was yesterday
less active, and the supply more plentiful. It would
appear that extensive preparations have already
been made for the liabilities maturing to-mor-
row. In some quarters first-class bills have been
discounted a shade below the Bank minimum rate.
The dividends will be payable at the Bank of
England on Wednesday, the Bth inst.
At Hamburg the rate of discount is rather lower,
the quotation being 7 to 71. per cent.
The Stebonheath has arrived from Melbourne, and
the Granite City from Sydney. The former vewel
has on freight 5,254 on. of gold, worth about
21,0001., but the latter is not known to have brought
my gold, and hci dates have been anticipated. The
winds at present north-east, and therefore unfa-
vourable for the arrival of ships from Australia.
The reduction of Id. in the East India Company's
rate of exchange—coupled with an idea which pre-
vails in some quarters that a further reduction of 2d. ,
may be decided upon in order to attract money
into the Company's Home Treasury—has led
to a fall of Id. to :d. per ounce in the
price of both bar silver and Mexican dollars. On
31onday last, it will be remembered, the bar silver
by the 'West Indian and Mexican packet realised
6a. lad per os., and the Mexican dollars ss. ld.
Yesterday transactions took place in bar silver at
ss. lid. to led., whilst dollars were dealt in at
Is. Old., and subsequently offered at Os. 02d. This
flatness of the silver market will, of course, tend to
render the immediate withdrawals of silver from the
Continent more moderate. A remarkable feature is
that it is witnessed at a moment when, contrary
to general expectation, numerous fresh orders
to effect shipments by the Colombo have
come forward. Up to yesterday it was thought
by the parties practically engaged in the business
that the aggregate remittances by this vessel, which
will leave Southampton to-morrow, would not exceed
700,000!., but it now appears that the amount will
reach 860,0001. Of this 348,1001. is destined for the
two Chinese ports. As yesterday was the last ship-
ping day, we believe the subjoined may be regarded
as the exact official details of the remittances in
question, viz.:—For Ceylon, gold 2861., and silver
2541. ; for Bombay, silver, 290,5231. ; for Madras,
gold, 3,1001.; for Calcutta, silver, 172,1551.; for
Penang, silver, 1,2501. ; for Singapore, silver,
43,5501.; for Hong Bong, silver, 167,1991. • and for
Shanghai, silver, 180,9011. ; total, 859,220/1

. .
The subjoined exhibits the aggregate remittances
by each of the last six steamers :
Aintl2o, per tai ns i730,793
Way 4. por Pos
May le, per Wombs 751,071
hos 4, per taus •.. 761,613
Jam 10, per Pas 1 142,616
July 4, per Wombs
The market for saw yesterday was stagnant, and
the quantity. offered at public sale was all bought in.
For tea an improved demand existed, and a good
business was done in common congou at ls. 21d. to
Is. 2p. per lb.
With reference to the market for American secu-
rities, Messrs. D. Bell, Son, and Co., report as fol-
lows :

The market for American securities, although still dull,
has daring the pest week shown mom symptoms of revival.
Thee boa NNW 12100 inquiry for tho vsnoua State stocks,
whisk to Mero Is bad to purchases for investment, In
reamed bomb awe lava bees but few actual transactions.
Seasemelts Male& Mew.
Vela WNW 11 per OWL Man le. sed Jay 103 1066
De. 6 par ONW Beada. lM Jaa. end Ju.7 104 MN
01.11.146 awl Nov. 711
y~°MAOw& MA. Jas. sad July 111
per
Doak .
6per IPsd
Ott 3c4
NU 01 Jan. and Jut, 40 U
= liq LITZ. h°3 )14
PeweNnala 61. Ct. Dd. 1600 Yeb. and Au. Al 41
Twosome per Q. Owls Din. Jim. awl July
,10006 6 per Orai. Ikea 16011 Jan. red July 61 11.3
=lOll6 pw pt. 210 Jas. aa4 .1017 al le
per aa N. 08. Jaw And rots PO 92
Mated law Owes. 11661,1061
Peer Wm= 6 per Out
Wadi ..... 1103 Jaw sad Jell TS 77
Masi. °owl 7 par Orat urn APril 00. es la
IllistAsOsatesi pa owa. NU AWN sad Ora 66 U
WNW Owtral T per OM.
• irweinada) . . . 1606 Mail • NW. 103 106
Dn. N 16 17 pre
It Os. recast 6 par (74. UM APIS and Ott.
Dade. 0a UM Merit 6464. U 91
Nur Yott Carina T per
reeawlltda frau
tJew lk NINO 10116 JurateDer..ls ST (4)
on Tat 01.0.1 6 per
0.04„ wavertlele NU Na 7 lad Nor. IT 79
1.. ow 1' par
OeaL 1114 renew Nardi ewe. 17 19
leo York awl lees 7 pre
N,
wawa& LOU Jaw and Jull TI 74
Tart sad 10.1 per
One.. slibeM NTS leb. awl AN. 77 rs
puma 7 we Ol letaloP
mes ease. man. JAme And Dee.
De. du.. 14. 4a. 1192 0011004.1 S
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