The Express.
London, England, 1861-01-19 00:00:00

MONEY MARKET.-4THLS DAY.)

Two o'Otot.c.

The funds to-day have shown steadiness. Atone
period an improvement of j per cent. was attained.
The present quotations are the same as those cur-
rent at the close yesterday. The movements of in-
terest in the Stuck Exchange are almost exclusively
confined to the market for British railway shares.
Extreme depression prevails in this department
owing to a pressure of sales by speculative h-OTNrs.
All classes of stock have fallen in many
cases to the extent of 1 per cent. Lancashire
and Yorkshire shows especial weakness, and the
reduction in it amounts to 2 per cent.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Renter opened at
67fr. 16c., being 6c. lower than yesterday. The
Bourse is described as "heavy," with "little
doing."

Cresols are officially marked 014 and 4 for
money, and 914 and for the account. The
present quotations are 914 " sellers," for money,
and 91+, " sellers," for the 7th of February. The
official business report is as follows :—Three per
Centa. Reduced, 911, 1; New Three per Cents.,
914, a, ; Thirty Years' Annuities, expiring in
April, 1885, 164 ; India Five per Cent.
stock, 1859, 1001, ; ditto Four per Cent.
Debentures, 1858, 95j, 4 ; ditto Bonds, 136.0 15s.
dia. ; Exchequer Bills, 4e., 35., 75., 2a dis.
The foreign stock market is very dull. The
Turkish Loan of 1858 has declined 4 per
cent., being quoted 56 to 4. The issue of
1864 is quiet, at 704 to I. Mexican
Bonds are rather more offered. Sales are
recorded as follows :—Dutch Four per Cent.
Certificates, 104 ; Mexican Three per Cents.
for account, 201, 21 ; New Granada Active,
14 ; Peruvian Four-and-a-Half per Cents.,
95 ; Portuguese Three per Cents-, 1853, for ee-
-1 count, 45, ex div. ; Russian Four-and-a-Half
per Centa., 1044 ; ditto, Three per Ceuta.,
1859, 601 ; Turkish Six per Cents., 1854,
for account, 704, 4 ; ditto Six per Cents., 1858,
for account, 564, 66 ; ditto 1001. Bonds, b 74.

Hms-rAsT Two o'Ciaci.

Consols are fractionally lower than at 2 o'clock,
being quoted 911 to for money, and 911 to for
the account.

The Arabia, for Now York, has taken 226,1771.,
in specie.

A rumour is in circulation that the Bank of
France, whilst buying gold with silver in Belgium,
Germany, and other countries, are in treaty with
the Bank of Russia for an exchange for about one
million sterling of the former metal against a like
amount of the latter. The report has an air of
probability. The French Bank seem prepared to
try every device rather than produce that degree
of tightness in the money market which is neces-
sary if the present drain is to be really corrected.
In the discount market the demand is not press-
ing. The best bills are taken a fraction below the
Bank minimum, and it is remarked as a satisfactory
feature that the inquiry for first-class six months
paper continues. The applications at the Bank of
England yesterday were fully equal to the average.

The transfer books fur Console and the other
government stocks upon which the dividends have
just been paid, were re-opened yesterday. It is
evident that the public are making investments in
the funds. It is only by this circumstance that the
ample supply of money in the Stock Exchange can
be explained, in face of the large toms which have
been withdrawn through the operations of the Bank
of England. Yesterday short loans on English
government securities were obtainable at 4 to 5 per
cent.

About 40,0001. in bar gold was withdrawn from
the Bank yesterday for exportation, besides 30,000
or 40,000 sovereigns for New York. The aggregate
by the Arabia to-morrow is expected to be very
large. •
The Oneida has arrived from the West Indies
with about 79,000/. in specie ; and the Indus, from
Alexandria, with 29,1211.
The Ceylon will take to-morrow 214,6061.
in specie of which 45,8221. is gold and the residue
silver. The total for India is 98,0031. ; for the
Straits', 60,9591. • for China, 30,344/. ; for Mauri-
tins, 25,0001. (gold on government account) ; and
for Alexandria, 3001.
The tendency of the Continental exchanges is
still towards improvement, owing to the higher
value of money in this market. Firmness pre-
vailed in all instanoss yesterday afternoon. Sub-
joined is our usual list :
Amsterdam, 3 months, 11.184 to I ; ditto 3 days, 1116
to 4 ; Rotterdam, 3 months, 11.14 to 19 ; Antwerp,
3 months. 25.45 to 50 ; Hamburg, ma. balm, 3 months,
13.74 to 8 ; Paris, 3 days sight, 25.224 to 75 ; ditto
3 =aids, 25.85 .to 70 ; Frankfort-on•tha•Mr.ine, 3
months, 1181 to • Petersburg (per rouble), 3 moths,
344 so Vienna, elf. do., 3 months, 15.55 to 65;
Trieste, ditto, 3 mouths, 15.55 to 65 ; Madrid, 3 months,
481 to j ; 3 month", 49 to A ; Leghorn, 3 months,
15.224 to 74• GUM. S months, 25.85 to 90; Milan, 3
mouths, Z. 85 to 90 ,• Naples, 3 months, 394 to j
Palermo, 3 months, 1184 to 4 ; Memino, 3 months, 1184 to
j ; Lisbon, 90 days, 5248 to e ; Oporto, 90 days, 52j to 53.
The following report has been issued by the
directors of the I% ational Discount Company
(Limited), in anticipation of the ordinary geueral
meeting. called for the 23rd inst.,:
- -

The accounts which the directors now have the pleasure
to place before the shareholders show that for the half-year
soding 31st ult. the gross profit amounts to 33,0611. 18s. 9d.,
and that after payment of the current expenditure, writing
off the usual proportion of the preliminary and building
expenses, and
rdrervintgedls;t4t"Vet 10.1., ker.` rebate
rest
eluding the sum of 5,014/. 6s. -24.. brought forward from
the last account, an available balance of 18,1481. 4s. 9d.
Of this sum the directors propose to appropriate 9,6*1/.
12.. 6d. to the payment of a dividend at the rate of 5 per
cent. per annum, free of income tax, and to carry the ettr-
plus, 8,M41. 121. 3d., to the credit of the reserved fund,
which will then amount to 34,50X1. 3s. 4d. The directors
regret that this fund will have to be debited with the sum
of 26,3361. to meet the losses arising from the failures in '
the leather trade, to which reference was made in their last
report, an d,as the several estates have now been thoroughly
invest' . ~1 and the probabilities of their liquidation ;core
accurately ascertained, they feel confident that this amount
of loss will not be exceeded.

require a ship to

The Emigration
take pwwengers to Melbourne.
The subjoined weekly summary of the produce
markets is extracted from the circular issued la.t
evening by Meows. W. J. and H. Thompson :

There has been some improvement in the colonial mar
kets this week, and occasionally rather higher rates have
been eat .filished. Coffee has met with more inquiry. and
the Eant..tion kinds of Ceylon show a rise of Is. per cwt.,
with ar...ipward tendency for fine qualities ; but taw East
India sorts still sell slowly. There has been a batter ilr
mend for grocery sugar, especially for grainy kinds, also for
Siam, at quotations slightly above those previously obtain-
able. Floating cargoes of rice continue in active demand
at extreme rates. A few sales of saltpetre have occurred
at the recent decline. The tea market presents a more
steeds, lq pa rsnce , and tho public sales have gone off at
full rates or Assam and China kinds.

The return ut the Bank of England for the week
ending Wednesday, Jan. 16, compared with that
for the previous week, shows the following changes :
Circulation issue
Circulation active
Public deposits 2,746,370 Decrease 901,076
Other deposits 14,433,956 Decree.. 1,043,469
Government securities in _
__ .
__. _ _ ___ ___

banking4l• ;ant 8,783,721 Decrease 1,=,000
Othereecuribes in inaiing
department
Coin and bullion in both

-
departments 11,775,363 Decrease 400,023
Seven day and other We 6610,068 Increase 22033
The Wet
Notes in reserve
Total reserve (noteshooin)
in banking department 5,352,143 OWNS'S 341,443
The decrease in the reserve and in the coin and
bullion is not heavier than might have been an-
ticipated, but the amount of the former item is
now becoming low. It will be seen that althongl:
tie batik have succeeded ia rl linor iu borrowin;