The Express.
London, England, 1857-01-27 00:00:00

201 i

MONEY MARKET-THIS DAY.

The funds have experienced a further decline of
to 1 per cent., owing chiefly to the efflux of gold
from the Bank. The other departments of the
Stock Exchange are rather flat.
Console were first marked at 931 for the 6th
Feb., and are now quoted 933, exactly. For money
the price is 931. The Three per Cents. Re-;
duced have been dealt in at 931 to 94
the New Three per Cents. at 94 to 941 ; the
New Two-and-a-Tfalf per Cents. at 761 to 78; Bank
Stock at 2171; India Stock at 219; Exchequer Bills
at la. to 2s. dia.; Exchequer Bonds, 1858, at 99;
and India Bonds, at 2s. die.
Turkish Six per Cents. are rather flatter, being
marked 94: and 941. Other foreign stocks are
dull. The wales arc limited to Portuguese Three
per Cents., 1853, for the 30th inst., at 441 ; Rus-
sian Five per Cents. at 1081,1, and 1081 ; ditto,
Four-and-a-Half per Cents., at 961; Spanish Old
Three per Cents., for account, at 40 and 401; and
Venezuela Active Bonds, for account, at 381.
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The rate of discount at Hamburg has fallen from
its recent quotation of 6 per cent. to 51 per cent. ;
but it seems probable that the demand for silver in
London will soon cause a recovery. At Berlin the
rate remains at 6 per cent.
To-morrow will be " making-up " day. in the
share market. The fortnightly settlement in shares
and foreign stocks will engage attention on that and
the two following days.
The amount of specie brought by the Niagara
from New York is stated at 255,000 doles., or about
51,0001., the bulk of which is probably on continental
account.
The steamer Bacchante has brought in 7,400/. in
specie from Oporto.
Trustworthy private telegraphic despatches, re-
ceived in advance of the Overland Mail, quote the
exchanges as follows, viz.:—At Canton, 4s. Sid.;
at Shanghai, 75.; at Calcutta, 2s. ; and at
Bombay, 2s. 2?.d. As regards the China exchanges,
the rate at Shanghai is no less than Gd. lower, as
compared with the quotation advised by the previous
monthly mail; whilst at Canton an advance of Id. is
shown. Canton is the more important market
of the two, the rate at Shanghai being merely
for that scarce coin, the Spanish pillar
dollar. The decline in the exchange at the latter
port is attributable to the receipt of some large sil-
ver remittances from this side. In the London
market the demand for silver has of late been chiefly
for India, and the further slight advance in the rates
in those markets indicates that theefflux thither will
continue large. It is at present computed that the
shipments by the Indus on the 4th February will
amount to 000,0001. or 700,0001., chiefly for India.
The Milian dollars brought by the steamer La
Plata still remain on sale.
The corn market yesterday was decidedly heavy.
Fine dry samples of English wheat ruled Is. to 2e.
per. qr. lower than on last Monday; whilst inferior
sorts were offered at a reduction of 3s, to 45. Flour
was quoted Is. to 25. per sack and barrel lower.
Since last Friday only one grain cargo has arrived
at port of call.
We understand that the Mons Collieries project is
not to be proceeded with in its present shape.
Owing to the state of the money market, the sub-
scription list was inadequately filled. As was to
be expected from the standing of the parties engaged
in the project, steps have been promptly and
honourably adopted for returning to the subscribers
the deposits lodged by them. It is stated that nego-
tiations are in progress with a view to ascertain
whether a reconstitution of the undertaking upon •
modified basis can be arrived at. In such case, sub-
scribers to the original project, though now receiving
their money back, will probably be allowed a prior
claim to an allotment in the new company.
The half-yearly meeting of the London and North
Western Railway Company is called for the 20th of
February. A resolution will be submitted " for the
consolidation into stock of so many of the London
and Birmingham 20/. shares, and the Manchester and
Birmingham C 107. shares, as have been fully
paid up."
The half-yearly meeting of the Southampton
Dock Company is called for the 25th of February.
The four directors retiring by rotation offer them-
selves for re-election.

The following meetings are newly announced :
Sitthigbourne and Sheerness Railway Company, for
the sth of February, at Qucenborough, in Kent;
Kent Waterworks Company, for the 2nd of February;
General Cooperage Company (Limited), for the tith
of February.
In accordance with the resolution adopted at the
recent meeting, a second call of 11. is to be paid on
the new preference shares of the Royal Swedish
Railway Company by the 25th of February.
A call of 21., making 71. paid, is to be paid on the
shares of the London and West of Ireland Fishing
and Fish Manure Company (Limited) by the 20th of
February.
The sealed certificates of shares in the London Dis-
count Company (Limited) are now ready for issue.
The certificates of the New York Life Insurance
and Trust Company, payable on the Ist of February,
are advertised for payment.

The funds were a little flatter to-day, closing at a
decline of per cent. The market, however, showed
considerable steadiness, in face of several adverse in-
fluences, including a decline at Paris, a more active
demand for money, unfavourable news from China,
and the unsatisfactory appearance of the bullion
movement. The Indian exchanges indicate that silver
will continue to flow freely to that quarter. In con-
sequence, the important sum of 94,0001. in gold is
known to have been taken to-day from the Bank, to
pay for supplies of the less precious metal on the
Continent. In the absence of arrivals of gold from
Australia, these withdrawals keep alive the appre-
hension of a more difficult money market.

The demand for money was today active in nearly
all quarters, and some tightness was experienced.
In the Stock Exchange the rate for short loans on
government securities was rather higher, viz., 51 to
6 per cent.
Consols opened at yesterday's closing quotation of
931 to 1 for the sth Feb., and closed at 93 , "sellers."
For money the last price was fin to 1
.The official
business report is as follows:—Three per Ccnt. Consols,
for money, 93t, ; ditto for account, sth Feb.,
931, 93,2. Three per Cent. Reduced, 94, 931, 041.
New Throe per Cents., 947, k, 94. Long Anna.,
expiring in Jan.. 1860, 21. Thirty Years Anna.,
April, 1885,18 1-16.
Exchequer Bills remain quoted ls. dis. to 2s. prem.,
and Exchequer Bonds, 981 to 991.
Turkish Six per Cents. show a trifling decline,
closing at 941 to 95. The Guaranteed Four per
Cents., at 4 o'clock, maintained 103 k to I. Spanish
Deferred Three per Cents. met with more inquiry.
Other foreign securities show steadiness.
Owing to the news from China, the tea market
was very active to-day, at a further advance of IS.
per lb. Common congou was freely bought at
is. lid., and the closing price was Is. lid. to Is. 2d.
The private telegraphic advices from China 'state
that the deficiency in the shipments of tea this sea-
aim amounted already, at date, to 12,000,0001 b.
In consequence of the news from China, the silk
market was very firm to-day, although no actual
change in prices can be quoted.
Ottoman Bank shares closed to-day at 1 to Of
dis., being better; Bank of Egypt at 1 dis. to par
National Discount at 9-16 to 11-16 pen.; ditto,
new shares at 7-16 to 9.16 prem. ; London Discount
at 1 to 1 dia.; and General Bank of Switzerland at
2 to 11 dis. Other bank shares met with nume-
rous transactions, at steads, prices. Australian Agri-
cultural shares were flat; Canada Land firm; and
Peninsular and Oriental Steam 11. higher. London
General Omnibus shares closed at 3 11-16 to 3 13.16.
East and West India Dock stock is officially marked
122 and 120 cx div.; and London Dock 99 cx div.
The nominal closing quotations for the newly pro-
jected railways are subjoined, viz.: Nassau Rail-
way, Ito prem. ; Punjaub Railway, to prem. ;
Owl° Railway, par to i pm.; Central On& Railway,