The Express.
London, England, 1857-10-27 00:00:00

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MONEY MARKET.-TBIS DAY.

Two o'CLocra.

The funds opened this morning at a further
advance, owing to the fall of Delhi. Be-
fore the official hours a rise of to
per cent, was quoted, but there has since been a
constant succession of sales, and prices are now
quoted to j per cent. worse than at four o'clock
yesterday. The fall is partly attributable to the
fact that a apecial court is sitting at the Bank,
which induces the fear of fresh restrictions.

Consols, before 11 o'clock, were quoted 891 to 1
for the 10th November, and have since declined
steadily to 88/. For money, the present
price is 881. The Three per Cents. Masud
are marked 881 and 88; the New Three per Cents.,
881 1,1, and 1, the New Two-and-a-Half
per Cents., 14 ; Exchequer Bills, 15s. and 14s. die. ;
and Exchequer Bonds, 1859, 971 to 1.
Turkish Six per Cents. opened at an advent*, but
have since fallen, and are now quoted
per cent, worse than they closed yesterday. Other
foreign stocks are quiet. Sales are recorded as
follows:—Buenos Ayres Bonds at 82; Dutch Four
per Cents., at 971 ; Mexican Bonds, for account, at
191 and 191; Peruvian Four-and-a-Half per
Cents., for account, at 70 ; Portuguese
Three per Cents., 1853, at 43 and 431;
Russian Four-and-a-Half per Cents. at 971; Sar-
dinian Five per Cents. at 891 and 891; and Turkish
Six per Cents., for account, at 88, 881, and 871.
The American news yesterday excited quite as much
interest as the Indian, nor is this surprising when
we bear in mind the severity of the monetary pm-
sure to which the country is subjected through the
American difficulties. The news that the ex-
ample previously set by many banks, in sus-
pending specie payment, has been followed by
the New York banks, has been received with
a feeling of relief amongst the American houses
here, and this impression appears to be shared
by the majority of the mercantile public. Ai there
was evidently no chance that the banks would be
enabled to weather the storm, the decision to
suspend specie payments is regarded as the best
course that could be pursued for the general protec-
tion. The hope is entertained that, as this measure
may be considered the culminating point of the
crisis, the public mind will derive confidence
from the belief that the worst is now known, and
will gradually subside into comparative calmness.
It is also assumed that the expected general legalisa-
tion of the suspension by the legislature of the re-
spective states will lead to a recovery in the ex-
change on England to a point calculated to discou-
rage remittances of specie from this side, and that
by this means the drain upon our market will be pro-
portionately mitigated. We record these views as
indicative of the feeling which generally prevailed
yesterday in the best informed circles, but would re-
mark that, although remittances of specie to
New York, as mere exchange operations,

will undoubtedly be checked, if not altogether
stopped, there are now in London positive orders to
transmit gold to a considerable amount by the next
packet. Owing to the postponement of the depar-
ture of the steamer Atlantic from the other side, it
is presumed that the next steamer from Liverpool
will be the Arabia, which is expected to take out as
large en amount of gold as that just shipped by the
Canada. According to the latest advice. from New
York, the closing quotation for first-class and
bankers' bill' on London was not higher than 100 to
101, but there is a strong impression here that a
considerable ads anee in the rate will be reported by
the next packet.
In the discount market yesterday there was a good
supply of money, but fall rates continue to be
charged. At the Bank yesterday the applications were
large, owing partly, perhaps, to the fear of fresh
restrictions.

Parcels of bar gold to the amount of about
20,0001. were yesterday withdrawn from the Bank,
chiefly for exportation to Cadiz, per the steamer
Alhambra. It is still apprehended that some con-
siderable amount of gold will be shortly taken from
the Bank for remittance to the Continent, in pay-
ment for silver, unless a supply comes in from Aus-
tralia. The continental demand was yesterday
active.

There was a special court of the Directors of the
Bank of Englandyeaterclay afternoon to consider an ap-
plication for assistance from the Liverpool Borough
Bank, which has been brought in a position of em-
barrassment through having locked up its means to
an undue extent in securities not immediately avail-
able. It will be learnt with *addiction that the

- .
Directors of the Bank of England, having satisfied
themselves of the solvency of the institution, have
consented to interpose, and to accord such
effectual assistance as will render the liquida-
tion satisfactory. All claims upon the Liverpool
Borough Bank will consequently be duly met, and
its affairs wound ue. The paid-up capital of this
joint stock institution is 940,0001. The nominal
capital is one million, but of this 60,0001. has been
forfeited. It has a respectable and wealthy body of
shareholders.
It is stated that the bullion in the Bank

of France, which was stated in the last re-
turn at 9,022,0001., fell recently to 8,000,0001.,
but that since the rise in the rate of discount to
7j per cent., a redovery to between 8,200,0001.
and 8,240,0001. has taken place. It is alleged that
in some influential circles pressure is being brought
to bear upon the government, with a view to induce
them to give a forced currency to the notes of the
Bank. The adoption of each a measure would
imply that a suspension of cash payments by the
Bank is not beyond the bounds of probability. We
can scarcely conceive, however, that the government
can have the idea of tampering with the vital inte-
rests of the country at the present critical juncture.
At Hamburg the rate of discount has declined to
8 per cent., and the stock and share markets are
firmer.

To-marrow will be " making-up day" in the share
market. The fortnightly settlement in shares and
foreign stocks will be completed on Friday.
About 33,0001. in silver has arrived in the Thames
from Boulogne and Antwerp within the last day or
two, per the steamers Panther and Tiger.
The steamer Teutonia has taken out 20,0001. in
specie to the Brazils.
The steamer Granada, from the Peninsula, has
brought about 2,0001. in specie, of which a portion
is intended for transhipment to Bombay.
The continental advice, estimate at about 300,000/.
the liabilities of M. Balabio, banker, of Milan, to
whose failure reference has recently been made.
The corn market yesterday was very heavy, owing
to the monetary crisis, coupled with the anticipation
that the exportation of wheat and flour from France
will shortly be permitted by the government Pro-
gress could not be made with sales of wheat at a
reduction of Is. to 21. per quarter from last Monday's
rates. Only one floating cargo of grain has arrived
at port of call since list Friday, and of the cargoes
previously arrived only two now remain on sale.
Maize continues in demand, and firm. All the coun-
try markets are reported flatter ; but in France prices
of grain are firmer.
A telegram from St. Petersburg states that the
exchange on London has fallen to 335. td. to id.
The price of tallow was looking up, and 180 ro. had
been paid.
The traffic return of the Great Western Railway
of Canada, just received, presents a decrease of
4.2611., compared with that for the corresponding
week of last year.

MOYDAT EVININO.

This has been a day of great excitement in City
circles. In the morning s very unfavourable impres•