The Express.
London, England, 1857-05-20 00:00:00

MONEY

r.-THIS DAT

Two **Mom.
The funds to-day exhibit a fresh decline of 1 per
cent., owing to sales, coupled with the unfavoura-
ble aspect of the silver movement. The other mar-
kets aro dull. The government broker has again
bought 30,0001. of Exchequer Bills.
Consols are dull at 931 to 94 for the 4th Julie,
and 931 to 1 for money. The Three per Cents.
Reduced have been dealt in at 921 to 1;
the Now Three per Cents. at 921 to 1; Bank
Stock at 212 to 213; India Stock at 220;
Exchequer Bills, March, at 4s. to th. prem. ; ditto, '
June, at 2s. to 3s. prem. ; and India Bonds at 7s.
to is. die.
Turkish Six per Cents. are again lower, being
marked 931 and 941. Other foreign stocks are
fairly supported. The sales comprise %b-
-rill= Old Five per Cents., at 991; Danish
Three per Cents., at 851; ditto Five per Cents.
at 101 and 1011; Dutch Two-and-a-Half per Cents.,
at 65; ditto Four per Cent. Certifs., at 971 and 97;
' Mexican Sonde, at 221, for account (28th of May),
Pervvian Three per Cents., at 531 for account;
Russian Five per Cents., at 106; Sardinian Five per
Cents., at 911; and Venezuela Active Bonds, for
account, at 35.
The unfavourable feeling yesterday was mate-
rially promoted by the news of the revival in full
force of the drain of silver to the East. Some
largo sales of Conrail' were effected, partly to ..
clam the accounts of speculative holders, who, not- ,
withstanding the approaching deduction of the divi-
dend, are indisposed to pay the onerous mite at'
"continuation" anticipated at the next settlement.
It was noticed, however, that the money market sene
yesterday,decidedly easier, both in the Stook Zs!
change and in commercial quarters. 'lliTa,
meat broker again purchased 30,0001.
Bills, paying the same price as on Monday. ,
the Bth mat. 270,0001. of these securities have bees!
thus abombed.
The exact amount of specie and bullion shipped , ,
on board the steamer Colombo, which will ,
leave Southampton to-day for Alexandria, is
751,0711., of which only 2,1281. is in gold,
and 748,9431. in silver. The sum destined for the
three Chinese ports is 322,8661. The particular are
subjoined, viz., for Bombay, silver, 171,2251. ; far '
Ceylon, gold, 3431. ; for Madras, gold, 1,7851, sad
Slyer, 22,1671. ; for Calcutta, silver, 144,28611 for
Penang, silver, 1,4101.; for Singapore, siver.
88,9901. ; for Hong Kong, silver, 154,0881. ; kw
Canton, silver, 2,0001. ; and for Shanghai, silver, ;
188,7801. .6
It will be seen from the following stateemele:
which exhibits the aggregate remittances by each eit ~
the aye last steamers for the East, that the drain k /
almost as severe as a month or two ago.
March 20, per Pars 8787,587
evil 4 pee 13allambo
April 90, par Wee '139,793
Slay 4, per Pas
May ID, par Colombo 761,071
Large as the shipments by the Colombo are, they
would have been much heavier, but for the shore
period which elapsed between the receipt of the
higher quotations of exchange from China and the
departure of the steamer. Orders to a oonsiderabb
amount are held over for the next steamer, which
will sail on the 4th June. In considering the pro-
bable effect of a continuance of this drain, however,
it must be borne in mind that the silver drawn from
the Continent is at present paid for by means at
bills. Before it will beoome advantageous to remit
gold in payment, the foreign exchanges must de-
cline considerably.
The steamer Sultan has taken out 2,4001. in specie
to Cadiz.
The foreign exchanges yesterday afternoon showed
moral firmness, the late improvement being fully
maintained. At the close of Change long paper on
Paris was more inquired for, but short bills cm
Amsterdam were quoted rather higher than on Fri-
a".Considcrable attention has been excited by the
announcement that Mr. Henry Salmon, who has
been for forty years connected with the Commercial
Bank of Scotland, has absconded, with defalcations
to the extent of some 30,0001. It is alleged that he
has granted, in the name of the bank, receipts for
deposits lodged, and abstained from entering the
amounts in the books of the bank. If this state-
ment be correct, the question arises how is it that
so much control over deposits is left in the hands at
any one official? Do these deposit receipts require
only one signature ?
The sugar market yesterday again evinced an up-
ward tendency.
The directors of the Riga and Hamburg Railway
Company announce a call of 41. per share on the
present shares issued by the company, payable cm
the Bth of June. It is mentioned that the present
call lass been already paid on the shares Mien is
Russia. Five per cent. interest will accrue upon the
whole of the payments effected. The shame have
fallen to 1 to i. dis.
With reference to the Ceylon Railway, the Ceylon
Overland Observer of the 15th April remarks:
" The railway engineers have examined the GM.
pole line so tar as to be able to pronounce it ms
ticable at a moderate cost. The Kornegalle and
M;tella route will be examined, however, and there
can be no doubt that in any case a branch line will
connect MitteUa with Kandy.
The Ceylon Examiner of the same date observes:
" One thing is already sure, that the work can be
executed very considerably within the proposed
limit." This limit is 1,200,0001 The shares of the
company advanced yesterday, closing at 11 to 11
prem.
The scrip certificates of the Paris Chocolate Com-
pany (limited) are to be ready for issue in exchange
ifor the bankers' receipts to-day.
The Admiralty invite tenders for the eon
of a limited quantity of stores from the river
to Bt. John 'a (New Brunswick), Melville bland,
Hobart Town, Cape of Good Hope, Jamaica, Fre-
- mantle, Corfu, and Melbourne.
•

Tr ESDAT Byname.
The funds to-day were decidedly heavy, and closed
per cent. lower than Yesterday; and in all the
other departments of the btock Exchange conside-
rable depression prevailed.
Consols, which closed yesterday at 941 to f for
the 4th June, opened this morning at 94/ to I, and
closed at Di to I. For money the last price was 931
to y. The official business report is ea follows i-••• ;
Three per Cent. Consols, for money, 931, 94, 931, -
94 ; ditto, for account, 4th June, 941, 4, 94, 941.
Throe per Cents. Reduced, 92f, 4, /, 3. New Three
pa. Cents., 924, 4. Long Annuities, expiring ix
January, IEOIO, 2 7-10. Thirty Years Annuities,.
April, 1885, 171. Bank Stock, 2131, 212, 213. •
India Stock, 222. Three-and-a-Half per Cent. Esi-
chequer Bonds. falling payable in 1859, 983, 984.
The New Two-and-a-Half per Cents. were ales
marked 78.
The Niel ch Exchequer Bills closed at Is. to Bs.
hem ; the June bills at 2s. to Is. prem. Exchequer
Bonds, at 953 to 99 ; and India Bonds, at 7a. to
2a. dis.
Turkish Six per Cents. fell per cent., closing
at 944 to 4. The Guaranteed Four per Cents. showed
much steadiness, leaving off at 1011 to 3. In other
foreign securities there is still no striking feature.

MLW Process YOE LAUNCHING VESSELS.—
Maw graving doclui on the Thames are in mouse of
earinsotion in connexion with the Victoria Docks, and
wags entirely original principle. By an hydraulic lift,
oda centrism:me for subeequently floating each vessel into
isalksw water, whets all the necessary examinations and re•
pis an be conducted from workshops alongside, the ewe
wee east of the deep excavations required under the
Zalsystem is to be avoided, en extent of spa
at once rendered available which at a comp,-
ratively slight outlay would enable any number et
ships to be areommodated. A belief is stated that by this
process our limpet sessele—ruch as the Himalaya—may
be
completely docked in two home, while from eight to ten ar-
Binary vesicle may with facility be raised, examin4
_and
IlLea again, per day." The patentee is Mr. maids
Clarks, and the capital fee the works now in coons of for-
mation-70,0001.--bee been chiefly
.eutacribed among the
principal London registers and their friends, Mars. ear
andm{4 ' Hawkehaw Fowler, Ilawkday, Berkley,
and Bidder having expressed full confidence In the tinder-