The Express.
London, England, 1857-04-07 00:00:00

MONEY MARKET.-THIS DAY.

Two o'CLoct.

The funds to-day have sustained a fresh fall of
per cent. English railway stocks have fallen to
t per cent. in many cases, and most foreign descrip-
tions are also weaker. As wo write, however, the
general appearance of the Stock Exchange market
is less depressed than at an earlier period of the
day.
Consols have been as low u 92} to t for money
and to-morrow, and are now quoted 921 to The
Three per Cents. Reduced have been dealt
in at 913 to ex div. ; the New Three
per Cents. at 911 to I ex div.; the
New Two-and-a-Half per Cents., at 76 ; Exchequer

Bills, March, at 2s. dia. to 31. prem. ; do, June, at
2s. dis.l Exchequer Bonds, 1869, at 981; and India
Bonds, at 6s. din. _ .

Turkish Stocks are lower, the Six per Cents. being
marked 971 and 961, and the Guaranteed Four per
Cents., 1001—a11 for the 17th inst. Other foreign
descriptions remain dull. The sales comprise
Dutch Two-and-a-Half per Cents., at 65,1
(exchange 128.) ; ditto, Four per Cent. Cer-
tifs., at 961 to 971 ex div. ; Mexican Bonds, for ac-
count, at 231; Portuguese Three per Cents., 1853, at
441 ani 45 ; Russian Four-and-a-Half per Cents. at

•O 51 to I ; and Spanish Deferred Three per Cents.,
for account, at 26.

The Bank of England yesterday afternoon, at an un-
usually late hour, notified a further restriction—i. e.,
the rate for loans on stock has been raised from 61 to
per cent. Considering the present state of the
Bank's resources, this decision need not excite sur-
prise. The directors, in meeting the requirements
of the commercial public in preference to those
of speculators, as represented by the Stock
Exchange, adopt a course perfectly in consonance
with sound principles. It is also reasonable to infer that
they will not be sorry if their present policy is found
to hamper the operations of the firms which arc en•
gaged in supplying the Continent with gold, and
which borrow on stock much of the money employed
in this branch of business.
The money market continues tight, and rather
unsettled. The dividends will be 'payable at
the Bank to-morrow, bat very heavy repayments
will fall due at that establishment, so that little
relief can be expected. The demand for money has
been exceptionally increased by payments on ac-
count of the reduced duties which came into opera-

tion yesterday on tea, sugar, and coffee. It appears
that ea much as 360,0001. has already been paid on
tea at the reduced scale. In some quarters there
was an apprehension that the fresh restriction
adopted yesterday by the Bank is a prelude to the
raising of the rate of discount to 7 per cent. This
fear will probably have some influence upon the
money market during the next few days.
It is stated at Paris that the Bank of France has
had specie during the last week, but this is probably
explained by the payment of the dividends on the
Four-and-a-Half per Cent. Bente'. It will be recol-
lected that during the fortnight succeeding the date
of the last monthly return, the metallic stock was
reported to be still increasing. The next return
of the institution will be published in London on
Friday.
By telegraph from Hamburg we learn that the
rate of discount has risen to the extraordinary
height of 8 per cent. This remarkable advance US
presumed to be caused by the silver movement.
In the corn market yesterday, English wheat was
freely offered at a redaction of Is. to 2a. per quarter
from last Monday's rates, without finding buyers to
any extent.
The Derwent has arrived in the Downs from Gee-
long, with 16,263 ounces of gold on freight, and the
Orwell, at Gravesend, from Melbourne, with 49,384
ounces. These sums represent a total value of about
262,5001. On the other hand, the amount by the
Marco Polo is only about 25,0001., viz., 8,183 ounoes
of gold and 4001. Of the supplies now to hand, the
25,00 W. ex the Marco Polo, the 65,0001. ex the Der-
went, and the 25,6001. in gold dust ex the Austral,
have already been sold for exportation to the Conti-
nent. The 30,000 sovereigns ex the Austral will
probably be sent into the Bank. The only amount
still remaining on sale consists, therefore, of the
200,0001. ex the Orwell
So much as regards the remittances actually to
nand. Let us now glance at the prospective sup-
plies. Considerable disappointment has been oc-
casioned by a report that the gold ex the Simla,
which is expected to be in hand about Friday next,
amounts to only 8.5,0001., instead of 85,000 ounces,
as erroneously stated by telegraph. On the other
band, the advises now received from Australia enu-
merate extensive shipments of gold by a number of
vessels. The following had cleared from Melbourne,
vie., the Brilliant, on the 22nd December, with
17,986 oz. ; the Copenhagen, on the 9th Jan., with
46,045 oz. ; the Thames, on the 27th Jan.,
with 4,780 oz. ; the Anglesea, on the 31st Jan.,
with 48,882 oz. ; the South Carolina, on the 31st
Jan., with 20,493 oz.; the Sydenham, on the 4th
Feb., with 31,482 or. ; and the Morning Star, on the
10th Feb., with 48,380 es. The Light of the Age
also sailed from Sydney on the 24th Jan., with
8,600 oz.; and the Wave of Life cleared from the
same port on the 10th Feb. with 3,000 ounces. These
remittances (exclusive of the amount by the Simla)
represent • total of no leas than 227,487 ounces,
worth about 910,0001. Adding the 500,0001. on
board the steamer Royal Charter, which must now
be near at hand, we arrive at a total of 1,410,0001.
actually at sea. This, we may repeat, is exclusive
of the supplies per the Orwell and Simla. Hopes
are entertertained that, if any heavy amount arrives
shortly, a portion will be sent into the Bank.
Three vessels have arrived from China, vie., the
Herculean from Hong Kong, the Agnes Garland
from Foo-chow-foo, and the Cambala from Shanghai.
The Vienna Gazette publishes the concession of
the East Gallician Railways, the capital of which is
no lees than fifty-flue minions of &rine, or, say,
5,500,0001. sterling.
We understand that the board of the Antwerp and
Rotterdam Railway have recently succeeded in
effecting • considerable saving in the working
lexpensta. The aggregate traffic exhibits, so far, an
increase of about 2,2001., compared with that for
the corresponding period of Let year. It is also
stated that the company has entered into contracts
with the Belgian government for the conveyance of
coals, &c., upon satisfactory terms.
The Great Western Railway Company are offer-
ing 6 per cent. per annum for loans on debentures
for three years, 41 per cent, for five years, and 41
per cent. for seven years.
At the half-yearly meeting of the proprietary of
the Commercial Bank, held at Sydney (New South
Wales) on the 27th January, a dividend at the rate
of 16 per cent. per annum was declared. At the
eighth half-yearly meeting of the Australian Joint
Stock Bank, held at the same city on the 27th Jan.,
a dividend at the rate of 10 per cent. per annum was
declared.

A meeting of the Grand Surrey Docks and Canal
Company is called for the 21st inst.
Another meeting of the London General Omnibus
Company is to be held at Paris, on the 26th instant,
the meeting called for the 31st ult. not having taken
place, in consequence of the number of shares depo-
sited being insufficient.
Vice-Chan
- -
share on the
Company, payable by do hit bat.

Stuart has made a call of 5/. per
ributories of the Bituminous Shale

MONDAY Evvinco.

The measure taken by the Bank of England has
been accompanied by a fresh fall of 1 per cent. in the
funds, which closed with much heaviness at the
lowest point of the day. The depression was aggra-
vated by the evidence afforded by the present settle-
ment thattheontatandingspeculation for higher prices
is still considerable. The "continuation" on Consols
to the 7th May wan quoted this afternoon I to 9-16
per cent., cc equal to 81 to 71 per cent. per annum,