The Express.
London, England, 1861-08-01 00:00:00

MONEY MARKET.-(THIS DAY.)

REDUCTION IN THE BANK RATE OF

DISCOUNT.

Two o'Cwci.

The directors of the Bank of England have this
day reduced the minimum rate of discount from 6
to 5 per cent.

This measure having been fully anticipated has
had little effect in the Stock Exchange. Consols
are quoted 1-16 to per cent, better than yesterday
afternoon, but the market is languid. English
railway stocks are rather flat.

At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Recites opened at
67fr. 800., showing no alteration.
The scrip of the New India Loan is firm, at
100 to ; and the stock at 991 to 4.
Consols are officially marked 90 and
for money, and 904 and 90 for the account.
The present quotations are 90 to 1 for
money, and 904, " buyers," for the 7th
August. The official business report is as
follows ..--Bank Stock, 232, 233, 2314 ; ditto for
account, 233 ; Three per Cents. Reduced, 89, 894,
904 ; New Three per Cents., 90, 4, 894 ; Thirty
Years' Annuities, 1885, 1511-16, ; India Stock,
219 ; ditto Five per Cent. stock, 994, ; ditto
Bonds, 10s. dis ; Five per Cent. " enfaced"
rupee paper, 94 ; Exchequer Bills, March, 135.,
Bs. dia. ; ditto June, 4a. dia.
There is a fresh improvement of 4 per cent. in
the Turkish Loan of 1858, which is now quoted
681 to 69. The loan of 1854 is steady, at 79 to 1.
Other foreign stocks are quiet. Salet are re-
corded as follows :—Brazilian Four-and-a-Half per
Cents., 1860, 874 ; Danish Three per Cents., 1825,
824 ; Dutch Two-and-a-Half per Cents., 634
(exchange 1211.) ; Mexican Three per Cents.,
for account, 224, 1 ; Peruvian Three per Cents.,
for account, 74; Spanish Three per Cents., for'
account, 484 ; ditto New Deferred Three per Cents.,
for account, 414 ; Turkish Six per Cents., 1854,
for account, 79 ; ditto Six per Cents., 1858, for
account, 1184, 4,4, 4, ; Venezuela Three per
Cents., 174. '
Good bills were discounted yesterday at 5 per
cent., or one per cent. below the rate charged by
the Bank.

The amount of gold sent into the Bank yesterday
was 88,000/., making 640,0001. since Wednesday
week.

New York telegrams report a further advance in
the exchange to lo7}.
The bar silver by the last West India packet was
sold yesterday for the Continent at ss. Old. per
ounce, showing no change. The Mexican dollars
have not yet beeu disposed of.
At Liverpool yesterday the sales of cotton did not
exceed 8,000 bales, the market having resumed •
quiet appearance, but prices are reported firm.
The Loan of 200,0001., proposed to be raised by
the Cape of Good Hope government during the
present year, will probably come here, as ou pre-
vious occasions.

The liquidators of the unhappily notorious North
of Europe Steam Navigation Company have issued
the following report, for presentation at the general
meeting of the despoiled shareholders on the 6th
August. It shows that there is a prospect of a fur-
therreturn of only 6s.or 7s. pershare, 22.105. having
already been paid, on account of each share on
which 20/. was paid up. The loss is therefore as
enormous as it is indefensible and incomprehensible.
At the date of the last mee.ing there was a dispute
I pending between the liquidators and Captain
Andrews, who was the manager or superinteadent
of the concern whilst, unknown to the shareholders,
it was becoming inextricably involved in ruin. This
was subsequentlyreputed to have become a
ritilra°t7e. The shareholders will be curious to learn
whether, now that he is again in the enjoyment of
his faculties, he has been clever enough to conquer
in his dispute with the liquidators.

The liquidators of the Nail of Europe Steam Naviga-
tion Company (Limited) beg leave to submit to the share-
holders their third annual report. An open aeoount with
the Eastern Counties Rai/ way Company, containing many
disputed items, which might have proved the source of
much li;.igatioe, has, after prolonged negotiation and mutual
concession, been dually and satisfactorily agreed on. Is
their last report the liquidators informed the shareholders
that the factory at Loweetoft had been sold for 3,5501.
Upon going into the title the purchaser' took certain
*il objections, which prevented the completion of the
sale. It is hoped, bo we air, that all daticultie3 are now
got over. The purchase money will probntly be suelcieot
es to cover all the liabiliti of the company, in which case
the entire balance, which appears in the none: ed account,
will be divisible MOOS the shareholders, and produce a
farther return o: between Ba. and 7s. per share. The
lino/deters reeices. that 'he shareholders will at the pre-
sent meeting appoint some porton or persons to audit the
amounts, so the:. after the sale of the factory has been com-
plet3d a dividend may be declared. In the meantime the
cash balance is earning interest at the Union Beek.
Creditors of the concern known as the " Alliance
(France and England) Bank," now in liquidation,
are required to lodge their claims at the office at
Path..

That gold exists in its native state in England
and Wales, as well as in other pails of the Unita.
Kingdom, has long been known, but its extraction
at a profit seems never to have been accomplished.
A company known as the Vigra and Clogan Copper
Mining Cmrpany o: Merionethshire claims, how-
ever, to have solved the problem. This company
commenced operations in April last year, the search
being for copper, although it was known that gold
was to be found, but, it was assumed, not
in sufficient quantities to repay the out-
lay. After the works had been carried
on for some ti re, however, the lode became
rich in gold, and we are positively assured that the
rand: of the operations from January last to the
6th of July shows a net profit of 2,500 i., arising
entirely on the gold obtained. 983 oz. of gold are
now in London from these mines, and will be sent
into tie Bank after being refined.
The London and North Western Railway traffic
return shows this week a decrease of 101121. ; the
Great Wuatern an increase of 2,034/. ; the Great
Northern an increase of 2,5111.. and the London
and Soya) Western an increase of 1.6131. _

The traffic receipts of the Gres:: Western Railway
of Canada for the week ending eie 19th July were
5,772/. sterling, being 2101. ino.o than in the corre-
sponding week of last year.
The half-yearly dividend on the New Granada
Bonds is advertised for payment to-day by
Messrs. Baring Brothers. The dividend ou the
New Active Bonds is 1/., and on the Old Os. 3d.
per cent.
Subjoined are the latest quotations of insurance,
gas and coke, and other shares, as given in the last
Stock Exchange list :
Insnranos.—Alliance British and Foreign, 151 ; Ditto
Msrine,lS4f ; Eagle, 7 ; Cruanliar, 471, ; Impe-
rial Fire, 3521, 4, ex div. • Law Fire, 41, ex all ; Legal
and General 'Life, 61 ex div. ; London, .01: London and
Prorincial Marine, 2; Marine 91, ex div. ; Ocean Marine,
101, ; Phcenix, 1501 ; Rock Life, 81; Usivenal
Marine, 11.
Gas Light and Coke.—Great Central, 13, ; hope-
t:al, 80, 79g. ex di,. ; London, 67; ditto, Parliamentary,
291: ditto, blue preference, 621, >i ; Pl•••:nix, 701, ex die.
Wate-works.—West Middlesex, 105, ex die.
Docks.—London, 53, 21, 3,3, 4.
With referent: to the market for American Secu-
rities Mr. E. F. Sattorthwaite r. ports as follows :
The market for AmLrican securities in London has been
6-m during the pant week, and a general advance has been
established, which has been maintained to the clew.
The Admiralty will receive tenders on the 14th
of August for the supply of 50,000 gallons of rum,
15,090 g.llons of vinegar, 200 tons of soap,
100,0001ba of tea, 20 tons of raisins, and 50 tens
of tobacco.
The Emigration Commissioners will receive
tenders on sth August for Cr: hire of a ship to
carry coolies from British Guiana to Calcutta.
Mr. J. P. Carruthers was yesterday appointed
agent for Lloyd's at Taganrog.

WKIMADAT
Consols, which closed yesterday at 90 to j, for
the 7th of August, touched this morning 90i to
and closed at 90 to 1, which was also the last

r price for money. The oMcial business report is as
follows :—Three per Cent. Consols, for money, SM.
1 ; ditto, for account (August 7), 901 ; Three per
Cents. Reduced, 84, 94 ; New Three per Cant.,
901, 90, 1 ; Thirty Years Annuities, 1886, At;
Bank Stock, 232, 230 ; India Five per Cent
Stock, 94 ,l ; ditto scrip, 1001, 100 ; ditio
Four per Cent. Debentures, 1864, 962 ; ditto,
Bonds, 6e., Bs., 6a., dis. ; Five per Cent. " de-
faced" rupee paper, 95.
The ',cry of the New India Loan was last quoted
100 to 1. and the stock, 99/ to f.
The March &chequer Bills were flat at 151 s.
to 7a ; and the June at 4e. the, to par. Judi"
Bonds were dealt in at Be. to ss. dis. . .

- -
There was a fresh rise of about per cent. to-day
in Turkish Bonds. The Loan of 1658 is in especial •
favour. The closing (potations were 79 to for
the bonds of 1864, and 684 to for those of 1858.
Mexican Bonds remain dull at 50 to 4.
Bank shares to-day were quiet at former pricer.
Australian Agricultural were heavy. In misoella-
neoas shares there was no movement. Great Ship
were quoted 6s. 9d. to 7s. 3d.
The closing quotations fur shares in new under-
takings to-day were as follows :—Ocean Marine
Insurance. 41 to prem. ; Thames and Mersey
Marine, 4 to prem. ; Universal Marine In-
surance, 13-16 to 11-16 die. ; London and Provincial
Marine, par ; China and Japan Steam, par to 4•
prem. ; Commercial Copper, par ; Natal Land, •
togs.
The shares of the Oriental and General Marisa
Insurance Company were last quoted g to 3 prem.

MINES.-(THIS DAY.)

Two o'CLocz.

The mining market to-day is not active. There
are some inquiries, however, for Wheal Unity
shares, which are quoted 18e. to 20s. the mine
being reported rather better. Marko Valley shares
are firm, at 9to 9f. Corn Camborne are quoted '
1 to Ih, and East Devon Great Console, 2 to 1.
Other descriptions have scarcely garied.
Bon Accord Copper shares have been dealt in at
to 1 prem., and Great Northern Copper at 1 •
prem. Foreign mining shares are unaltered.
From Nantes and Peerhiw (July 29) the agents report r—
" Eyshumtean. —The lode in the 10 east is 8 fist wide, cos.
pad of clay slate, quartz, blends, and lead ose yielding et
the latter about 10 owta. per fathom. The lode in the 10
west is much the same in character, yielding from 10 toll US
inna of ore per fathom. The wins* oinking below edit Is
pelding good stones of ore. The mopes over this level are
yielding 10 carts. of ore per fathom. Btope west of No. 2
rise is y:elding from 10 to 12 cwte. of ore per fathom.
Reeves' level east is yielding Irving stuff for dressing. Roods
level west. the lode is 4 feet wide, contakiiog mandic ail
blende, with spots of Iced ore, but not sufficient to value.
The store on an average in back of this level are yielding
about 8 cwta. or. lead ore per Whom. Bwlclig,wyn, 30 east—
No lode has been token down'thiring the past week, but whim
Let taken down it was worth about 8 cwte. of ore per
fa:horn. No change in the tribute department to notice.
Our machinery is all in good order, and everything here is
being pushed on as fast as possible."

COMMERCIAL AND MARKET&
_..... -.-
MINCING LANK—(THI3 DAY.)
Suoaa.—This market onetime, Tory dull, and the publis
Isla of Porto Rica and Cuba are going off heavily. Ris-
fined aLio remains dull.
Corse—We are again without public sales, but the •
private motract market continues firm.
Correa.—No eal.s of importance reported.
liatrrevue continues in but limited demand.
Rica without alteration ; the demand is very limit 44.
Rine.—The appearance of a government contract far
50,003 gallops, to be taken the 14th inst., has made the
article rather more firm.
Jura sold in public sale at previous rake. About 2,505
bales sold, common to fine, 121. Is. to 101.
Markets generally are quiet to-day.

TALLOW MARICET.—(THIS DAY.)
The market continues steady. Town tallow 1441 noted A,
468. 6d. ; Petersburg Y.C. on the spot, old, 465. ; ditto-
new, 475. ; Sept., 445. ; October to December, 475. 6d. ;
January to March, 48s. 4

METROPOLITAN CATTLE MARKET.
(THIS DAY.)
Wa have a fair supply of beasts; trade is slows de,
they canna all M sold. Prices are almost the mid-
as on Monday. We are moderately supplied with sheep.'
and choice qualities are readily disposed of at full rads.'
Lambs and calves are plentiful. The demand is small, mil
moss are low. Our foreign supply consists of 48) beads.
2,780 sheep, and 411 Ludy's. Of mulch cows there ars SO.
From Ireland, 35 calves.
Per atone of 81b4. a 4. ad. Per Wes of 31b4 a 4. a. 4.
Beg Scots. Heret4s. 4 4 1 BoaDasit ilt-bds 32 5 0 6 4
Bost Short-henna 4 4 Bed lung-w 0015.... 0 0 0 0•
Second qua bouts 3 6 Do. 44. Sara 4 10 6 1'
Clam
3 4 Do. ex Shorn .... 4 4 4 II
12•4115i202.4reda 0 0 141,1! _ 40 6•

__
stmarkit 1,100;
Pt" la).

and lambs, 1;140 ; Calm, CI;

SMITHFIELD HAY MARKET.—(THIS DAY.)
Messrs. Darn and Co. report trade at the following
rises Rime meadow bay, 756. to 84e. ; superior ditto.
88e. to 100.. ; inferior ditto, 38s. to 50.. ; new ditto, 535.
to 80s. ; closer, old, 90.. to 130.. ; straw, 30s. to 40s.