The Express.
London, England, 1857-08-03 00:00:00

MONEY MARKET.-TDIS DAY.

Two o'CLoci.

The funds to-day present an unfavourable reac-
tion of 1 to 1 per cent., owing to the contradiction
given to the rumour of the fall of Delhi.
Consols for the 6th August were first marked 901,
fell to 901 to 1, and are now quoted 90,;,
exactly. For money the price is also 90/. The
Three per Cents Reduced have been dealt in at
90; to 91/ ; the New Three per Cents. at 91 to ;
Exchequer Bills at 4s. to Is. dia.; Exchequer Bonds,
1858, at 981; and India Bonds at 225. dis.
Turkish Six per Cents. are flatter, being marked
941 and 94k. The other transactions in this
department are confined to Brazilian Five per
Cents., 1843, at 98; Dutch Two-and-a-Half per
Cents. at 64 to 1 ; ditto, Four per Cent. Certificates at
981; Russian Five per Cents. at 1111; ditto, Four-
and-a-Half per Cents. at 981.

The East India Company have announced a
fresh rise of id. in the rates at which they
will receive cash for their bills on India. The rates
are flied, until further notice, at 2a. Id per rupee for
bills on Bengal and Madras, and Is. lid. for bills on
Bombay. This movement is directly attributable to
the Indian insurrection, in face of which the home
authorities are bound to refrain as far as possible
from adding to the already enormous disbursements
of the local treasuries. As a matter of course, remit-
tances of silver will be stimulated, and the price of
silver will continue to rise, leading to increased with-
drawals from the Continent, and increased remit•
lances of gold from this side in payment. These
influences can scarcely fail to affect the money
market in an unfavourable sense.

The question, has Delhi been taken ? was in every-
body's mouth on Saturday. Several firms of the
highest standing in the City have received letters
from respectable correspondents in various parts of
India who concur in the allegation that the
place had really fallen. We ran state, more-
over, that a letter from a government autho-
rity, dated Agra, the 17th June, has been
received in London, to the effect that the
town of Delhi had been captured with a heavy loss
to the mutineers and a comparatively limited
number of casualties on our side; but that the
fortress still held out. The troops who were mainly
instrumental in carrying the place were, says the
letter, those from I inballah and Meerut. Of the
authenticity of this communication there can be no
question ; yet there is too much reason to apprehend
that the writer, despite his official position, was
misinformed. Agra is, we believe, 140 or 1,10 miles
from Delhi, and the Bombay journals aver posi-
tively that on the morning of the day men-
tioned (viz., the 17th June) General Barnard was
still waiting for reinforcements. It is also feared
that the other respectable correspondents whose
letters announce the capture of the city have been
deceived by a rumour which seems to have spread
over nearly the whole of India, and the accuracy of
which at the latest date was disbelieved. It is un.
derstood that the British government and the India
authorities here concur in regarding the report in
question as premature—in short, an Indian version
of the taking of Sebastopol as announced to the
Emperor of the French at the Boulogne reviews.
_ _

The demand for money was again active on Satur-
day, and full rates are exacted. The applications at
the Bank this week are understood to have been very
heavy, and the general prospects of the money mar-
ket are certainly less encouraging.
The amount of gold taken from the Bank on
Saturday to pay for silver on the Continent was
about 60,0001.
The Lightning has arrived at Liverpool from Mel-
bourne with 32,866 ounces of gold on freight, valued
at about 131,4001. The dates by this vessel have
been anticipated. The steamer Scamander has also
arrived at Southampton from Alexandria, with the
40,5001. in Australian gold which was brought to
Suer. by the steamer Simla. These supplies are op-
portune, but the whole will be at once sent away.
The other imports of the precious metals reported
last week comprise only 61,3001. (of which a por-
tion was on continental account) by the Niagara,
from New York ; and 20,000/. by the Columbia, from
the same port.

The total imports of the week (including those an-
nounced on Saturday) scarcely exceed 233,0001. The
imports of silver from the Continent, however, have
been extraordinarily heavy. We can trace a total
of about 360,0001. imported direct into London, ex-
clusive of the large quantity received by railway
rid the outports.
The Custom-house weekly statement of the exports
of the precious metals direct from London includes
20,9400 z. of gold, and 2,800 oz. of silver, represent-
ing a total value of about 81,5001. The gold was
despatched chiefly to France. The particulars arc
subjoined, viz. :—Gold coin : to Belgium, 60 oz. • to
Boulogne, 80 oz. Gold bars : to Boulogne, 20,000
oz. ; to Belgium, 800 oz. Silver coin : to Boulogne,
400 oz. ; to Belgium, 100 oz. ; to the Canaries,
2,000 oz.

The steamer Atrato, which will leave Southampton
to-day for the West Indies and Mexico, has
20,4401. in specie on freight, of which 1,4,8401. is
gold, and 1,6001. silver. fhe actual shipments of
the week, u officially reported, are thus raised to
rather more than 100,0001. The private remittances
of gold to the Continent, chieflv in payment for
silver, have embraced, in addition, the supplies
brought from New York by the Niagara and
Columbia, and at least 270,000/. drawn from the
Bank.

The arrival from Melbourne of the steamers Great
Britain and Indomitable may now be shortly looked
for. The former vessel has been at sea 73 days
with 406,6001. in gold, and the latter 94 days with
123,8001.

In corroboration of the estimates previously made
by us, we can state that the remittances of specie and
bullion for the East by the steamer Ripon, which
will leave Southampton to-morrow, will reach
1,015,1701., of which 1,009,78 W. consists of silver, and
8,3811. of gold. It will be seen from the following de-
tailed statement that nearly the whole of this enormocs
mass of treasure is destined for India, viz. :—For
Ceylon, gold, 2521.; for Bombay, silver, 434,112!.;
for Madras, silver, 35,204/., and gold, 2,540!.; for
Calcutta, silver, 372,5601. ; for 'Penang, silver,
1,2481.; for Singapore, silver, 22,3731., and gold,
2,8401.; for Boni/ ong, silver, 04,4001.; and for
Shanghai, silver, 49,1807.
. .

The subjoined exhibits the aggregate remittances
by each of the last six steamers:

May 20, per Colombo
June 4, per Indus 761,613
June 20, per Pere 1,142,616
July 4, per Colombo 861,220
July 20, per Ind.
August 4, per Ripon

_ .
It is known that the remittances of silver by the
succeeding packet of the 20th August will be very
heavy some large amounts having already been pur-
chased for that opportunity. A fresh stimulus will
be given by the further rise of the East India Com-
pany's rate of exchange.
The letters by the Overland Mail confirm the
unfavourable tendency of the exchanges, as pre•
lowly reported by telegraph. At Shanghai, how-
ever, the movement is less important than before
stated. The following exhibits the closing rates for
first class bills :

—...-- -- .
Precious Mail. Present Mail.
At Calcutta
At Bombay.
At Hong Kong as. Ild. to 111 d. 4s. I lid. to
At Shanghai 7s. 2gd. to 3d. 7s. 3d.
_ _ _ _ . . .

An unfavourable feature of the commercial advice'
from India is the disposition of the native bankers at
Bombay and elsewhere to hoard specie.
The Manchester and Liverpool District Banking
Company announce a half-yearly dividend of 10s.
per ire, and also a bonus of ss. per share.
' The following half-yearly railway meetings are
newly announced, vie., London and tlackwall Rail-
way Company, for the 18th of Aug.; Newport,
Abergavenn)• and Hereford Railway Company, for
the 20th of Aug. ; Worcester and Hereford Railway
Company, for the 20th Aug.; Mid-Kent Railway
Company, for the lith Aug.