The Express.
London, England, 1857-07-02 00:00:00

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TsuBsDAT EVENING, JULY 2, MT. ,

MONXY MAXXAM-TEAS DAY.

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Two o'Ctocit. I
The funds to-day show a recovery of tot per cent,
and the other Stock Exchange markets arc also
rather firmer. The weekly court at the Bank has
broken up without making any change in the rate of
discount.
Consols were first marked 921, and are now quoted
921 to lex die. for the 9th July. The Three
per Cents. Reduced are marked 921 to 1; the
Nair Three 'Per Cents. 924 to 1. Bank Stock,
213 ; Exchequer Bills, Ss. to 15. die. ; being
firmer; and India Bonds, Bk. die.
Very little business has been done in foreign
Stooks, which see steady. The only saks reported
are—Danish Fire per Cents., at 1021 ; Dutch Four
par Cents. Certifs. at 98 ; Russian Four-and-a-Half
per Cents., at 961 cx die.; Sardinian Five per Cents.,
at 891 and 891 ; Turkish Six per Cents., for ac-
count, at 96; ditto, Guaranteed Four per Cents., at

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102.
The arrival is announced to-day of the Stebon-
heath from Melbourne, and the Granite City from
Sydney. The former vessel has 5,254 oz. of gold
on freight, worth 21,0001., but the latter is not
known to have brought any gold.
Operators for higher prices evince disconregee
went, and aro closing their accounts, in antici-
pation of the monthly settlement fixed for this
day (Thursday) week. Many of the speculators
aro inclined to hold aloof from the market until the
arrival of the next advice* from India, owing to an
apprehension that the spirit of mutiny may have
extended to other portions of the Indian army.
The demand for money in commercial channels
was again active yesterday, and the market evinced
stringency. The Bank minimum rate of six per
cent. is eagerly paid on good paper. Money will
doubtless continue in request until after the 4th,
upon which day the requirements will be very
heavy, the more especially as the sth falls on a Sun-
day. This event over, the monthly settlement in
Consols, on the 9th, will induce some demand. In
lit le more than a week, however, the dividends will
be released, and will, it is hoped, lead to some relief.
Meanwhile the loge arrivals of specie, part of which
flows into the Bank, and the reduction in the East
India Company's rate of exchange, form favourable
features of the money market. The Bank of Eng-
land is known to have purchased fully 200,0001. in
bullion last week, and has doubtless retained that
sum in the absence of withdrawals on foreign ae-
eount. It must be remembered, however, that heavy
disbursements were made last week on account of
government salaries and other payments. The re-
duction thus occasioned in the Treasury balance
must have gone far towards preventing any imams
in the Bank's stock of unemployed notes during the
week in question, the return referring to which 1411
be published rest Satueday morning.
The gloom of the Paris Bourse, in face of the
highly satisfactory ap of the harvest, is
mainly caused by a plc ora of floating stock, fresh
parcels of which are pressed for sale from
day to day by holders who wish to make the
necessary payments upon the new securities now
in coarse of IMMO by the Bank of Frames
and leading. railway companies. The settlement
being now in progress, the pressure of the recent
sales is the more severely felt.
The East India Company yesterday notified that
they have reduced by one farthing per rupee the rate
at which they will receive cash for bills on India. The
rate is fixed until further notice at 2s. old. per rupee
for bills on Bengal and Madras, and 2s. gd. for bills
on Bombay. The reduction is not very important in
amount, but its object is to attract into the company's
home treasury additional funds, which are doubtless
required to meet the increased expenditure inci-
dental to the present emergency. As tending to
give a cheek to the immediate shipments of silver to
India, the step may ho regarded as involving some
degree of relief to the money market. The last inv-
vious alteration in the rate or exchange was an-
nounced in the middle of January this year, when
an advance of 3d. was decided upon ; thus rescind-
ing a reeolut:on for a reduction of id. made on the
3rd December, 1858.
The East India Company have also issued notices
inviting tenders for the conveyance of 4,400
troops, all of her Majesty's service. to India. Of
these, 2,000 are to be conveyed from Dublin to India
in screw slcem shlri o. 1.000 tons burthen or
upwards. The reveining 2400 are to go in sailing
elms of rot Iry than ."00 tons register, half from
Dublin and half front England. The tenders are in
each case to be scat, in on the Bth inst.. and the
whole of the troops are to be embarked between the
21st and 29Lh inst. The mezimr ni number to be
embarl:ed any ore sailing shin i, 0.00 men. In our
opinion govern pent would have dore bear! had they
advertised for steamers to convey e‘e entire force.
We cannot thiek that any (11:Peal.), wound be expe-
rienced in procuring a aulle;eut nu.nber of steamers.
Specie continues to flow in with extraordinary
rapidity from New York. In addition to 169,20(11.
brought by the Vanderbilt, intelligence was received
yesterday afternoon of the arrival of the steamer
Atlantic at Liverpool, with 225,71101., a portion of
which is probably on contirental account. Of the
i amount by the Vanderbilt nearly one-half, 0r113,1001.,
was destined for England, but some of this is in
Mexican dollars, which will be sent to China. Of the
portion in gold, about '7.0001. was yesterday sent
into the Bank of England.
The shipments PpeeT by the steamer Magda-
lena, for the West Indies and Mexico, amount to
35,286/., of which G 3551. is silver, and the rest g^ll.
The corn market. yesterday nes steady, at last
id Moudav's rates. 'the imports nr roreign grail into
Londoii this week are ligh,. The number ur floatinr
cargoes arrived ct ports of call since last Ft :day is l

but of these were sold whilst on passage.
Indian railwey shares are still offered, and suffer
in prioe, the demand for these seen' ities being sus-
pended, pentl:ng the receipt of further advice' from
the East.
The severe depreciation in Canadian railway
securities of all dcseripiiinui forms another :eatitre of
Stock Exchange business. The new 201. Ito. shares
of theßuffalo ard Lake Huron Company, with 51.10 x.
paid, were yesterday marked 153. per share.
At the meeting of the Ithymney Iron Company
yesterday a Famyeerly dividend of 11. 10s. per 501.
share, and o: Os. per 101. share, was declared.
The annual meeting of shareholders in the Com.
oreveial Bank or London is called for the 21st July.
The retiring directors are Messrs. Charles Butler,
J. A. Chowne, John Savage, and Joseph Thompson
—all of whom offer themselves for re-election.
The half-yearly meeting of the City of London
GM Company is called for the 15th July, when a
dividend will be declared.
The scrip of the Turkish Gas Company is called
in, prior to the return of Is. 641. per share.
The coupons of the sterling Debenture Bonds 0.
the City os London, Canada, are advertised for pay-
ment.
The position of the market for American railroad
secwittes is thus reported by Mr. E. F. Satter-
thwaite :
Transections In American securities in London bare been
extremely inacave daring the past week, end prim hare
declined.

WEDNESDAY Hrtinage.

The funds to-day showed aincreased heaviness,
finally closing about k per cent. lower than yester-
day. The decline was assisted by news of a further
severe fall on the l'aris Course, but is still chiefly
ascribable to the speculatively overbought state of
the market.
Consols, which were quoted at four o'clock yes-
terday 9 2 , opened this morning at 92!, " buyers,"
declined to 92! to 1, and closed at exactly 921 ex div.,
for the 9th of July. After the close of the Stock
Exchange stock was offered at 92k. The official
business report is as follows : Three per Cent.
Consols, for account, 9tk July, 92t, I, !, ex div.