The Express.
London, England, 1861-04-04 00:00:00

MONEY MAREE2.-(THIS DAY.)

REDUCTION IN TEE BANK RATE OF

DISCOUNT.

Two o'Clocw.

The Directors of the Bank of England have this
day reduced the minimum rate of discount from
7 to 6 per cent. The announcement has been
received with much satisfaction.

Although the action at the Bank had been li
generally anticipated, it has had a strengthen-
ing influence upon the stock market. The
funds aro not quoted better than they closed yes-
terday, but the market is firm. British railway
stocks exhibit a partial recovery.
At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Rentes opened at
67.60, being / per cent. better than yesterday.
Consols are officially marked 911 and 1 for
money, and 914 and 4 for the account. The present
quotations are 911 to 91/ for cash, and 91/ to 1 for
the 10th of April. The official business report
is as follows :—lndia Stock, 2214 ; ditto Five per
Cent Stock, 99/, 100 ; ditto Four per Cent.
Debentures, 1858, 951 ; ditto, 1859, 954 ; dittb
Bonds, 30s. dis. ; Four per Cent. "enlaced " rupee
paper, 77 ; Exchequer Bills, 6e., 55., 10s., clis.
The foreign stock market is rather firmer in
character. Turkish and Mexican Bonds are rather
more inquired for : the latter are marked
241. Generally there is little alteration in
quotations in this department. Sales are re-
corded as follows :—Dutch Two-and-a-Half per
Cents., 641 (exchange 12fl.); Equador New Consoli-
dated, 121 ; Mexican Three per Cents., for account,
241 ; Piedmontese Five per Cents., 75 (exchange,
25fr.) ; Peruvian Three per Cents., 724, ex div. ;
Portuguese Three per Cents., 1853, 451 ; ditto, for
acct., 46; Russian Three per CU., 1859, 611; Spanish
New Deferred Three per Cents., 414 ; the Com-
mittee's Certificates, 5/ ; Turkish Six per Cents.,
1858, for account, 534 ; ditto Guaranteed Four
per Cents., 100; ditto for account, 991.

A meeting of the joint-stock banks will be held
to-morrow, when it will be decided whether any
alteration is to be made in the rate for deposits.
Meanwhile, the discount establishments will allow
the same rates as before.

We have received the following memorandum
this morning from the committee of Mexican
bondholders :

" The committee of Mexican bondholders have
received a latter from Mr. Whitehead, dated
Mexico, the 4th ultimo. He had not then come to
any arrangement with the government about the
re-payment of the 660,000 dole. His interference,
it must be understood, was only officious at the re-
quest of Mr. Mathew. The agreement with Captain
Aldham about the assignments of the bondholders in
Vera Cruz and Tampico had not been carried out in
either of those ports, but the committee have a
letter from their agents in Vera Cruz of the
Bth ultimo, informing them that orders to do
so have at length been given, to take effect
from and after a cargo entered on the 2nd
ult. The Vera Cruz arrears for 1860, for the
repayment of which 5 per cent. additional
have been granted, amount to 263,769.34. The Vera
Cruz Custom-house had received the circular order
from the general treasury to observe strictly the de-
cree of the 23rd Jan., 1857, which had also been re-
published in the Program° of the 6th ult. Politics—
Things are not settled yet. Forces are main-
tained in opposition to the government in
the South under Vicario, associated with Zuloaga,
and in the North towards S. Louis under
Mejia associated with Marquez, and it may cost
trouble to put them down. The elections are very
doubtful ; Juarez now appears rather the favourite.
If neither has an absolute majority the election
will revert to the Congress."

The rise in the New York exchange to 107} (at
which rate the latest despatches report it " firm")
will virtually put • stop to remittances of specie to
that quarter. The question—when will sovereigns
begin to flow back to this country I—is one of con-
siderable interest. Our grain requirements, com-
bined with the diminution in our exports to
America, will, of course, tend to delay the recovery
in the exchange to its ordinary leveL
At Vienna the funds are declining, and the ex-
change on London has risen to 150.75.
About 130.0001. in gold, mostly Australian, was
bought by the Bank yesterday, raising the aggre-
gate since the date of the last return to 434,0001.
The Glasgow took yesterday only 17,6001. in
specie for New York, making in all 4,818,000/.
since the end of November.
The Oneida has reached Lisbon from Brazil with
24,6261. in specie.
The wheat market yesterday was inactive at
Monday's prices.
The Liverpool cotton market continues firm,
but sot active. The sales yesterday consisted of
6,000 bales.
The telegrams by the second American packet
reported yesterday afternoon announce a recovery
in New York and Erie Railway shares from
301 (the latest telegram via Halifax) to 32,
and a recovery in Illinois Central shares from 801
to 82. The previous fall in the former to 301 at
New Tork was occasioned by the rumour that an
"assessment" was contemplated.
A telegram announces the arrival at Malta of
the mails from Bombay and Mauritius, which are
expected to be delivered in London early next
week. The telegram quotes the exchange at Bom-
bay 2s. led.
Meeaages are now sent from Malta to London
with great regularity. The transmission of one de-
spatch a day or two ago occupied only 1 hour and
46 minutes.

A meeting of the creditors of Mr. Joseph Bull,
ironmaster, of Ravened&le Iron Works, Newcastle-
under-Lyne, was held at Manchester on Monday.
The liabilities reach 47,277/., while the net assets
are not more than 11,9231. It was stated that Mr.
Bull had assured his creditors that he was solvent
in June last, and that he is unable to account for
the deficiency now exhibited. Considerable dissa-
tisfaction was accordingly expressed, and there was
a strong feeling in favour of bankruptcy proceed-
ings. It was resolved, however, to appoint a com-
mittee of investigation, and if their report does not
promise a more favourable liquidation than that
indicated by the Accouute, the estate is likely to be
wound up in the Bankruptcy Court.
The London and North Western Railway traffic
return shows this week (for Good Friday week) au
increase of 6711., the Great Western an increase
of 3,533/., the Great Northern an increase
of 8501.' and the London and South Western an
increase of 3,6501.

The general meeting of the Lombardo-Venetian
and South Austrian Railway Company is fixed
for the 30th inst., at Vienna. A call of a is to
be paid by the Ist of May. The second coupon of
the year 1860, representing the balance of the divi-
dend of that year, which will be declared by the
general meeting of the 30th inst., will be deducted
on account of this payment.
The directors of the Great Western Railway
Company of Canada have just issued their half-
yearly report which is to be submitted at the meet-
ing on the 11th inst. As already announced, a
dividend at the rate of 3 per cent.
.per annum is
recommended by the directors. It is pointed out
that the last half-year's working, irrespective
of the surplus brought forward, has yielded 2,193/.
more than the amount required to pay the
dividend now recommended. Whilst the traffic
has increased 45,321/., the extra expenses ha%
amounted only to 5,2351. Amongst other points, it
is believed that a considerable accession of traffic
may arise from the recent discoveries of earth oil.
The directors conclude by repeating the recommen-
dation which they made eighteen months ago, viz.
that the shareholders appoint two of their number
to act as auditors.
A special meeting of the Metropolitan Railway
Company is called for the 24th inst., to approve
three bills about to be iutroduced into the House

of Commons. One of these authorises the company
to make certain improvements in their communica-
tion with the Great Northern Railway, and with
the metropolitan meat market at Smithfield.
second authorises the extension of the Metropolitan
Railway from Smithfield to Finsbury-circus, whilst
the third is for making a line from the Greet Wes-
tern Railway to Hammersmith, to be called the
Hammersmith and City Railway.
An extraordinary meeting of the Calcutta and
South Eastern Railway Company is called for the
16th inst., to confirm the resolutions passed at the
meeting on the 13th March, whereby the directors
were authorised to borrow 50,0001. on debentures
convertible into shares.
A call of 2'. is to be paid by the 29th inst. on the
shares iu the Great Indian Peninsula RailwayCom-
psay, on which 81. has already been paid.
Subjoined are the latest quotations of insurance,
gas, dock, and other shares, as given in the last
Stock Exchange list :
Insurance—Albert Medical Life and Family Endowment,
3 ; Atlas, 13i ; allbe, 100 ; Guardisn, 511 ; Indemnity
Marine, 140 ; Law Lab, 00 ; Le s 1 sad General Life, 61 ;
Londas and Provincial Marina, 2 ; Marine, 951; Ocean
Marina, ; Rock Life, 81, ; Thema and Mersey
Marine, 3; Universal Marine, 4. 1.
Gas—City of London, New, 71, ex div. ; Commercial,
311 ; European. 12 : London, 611.
Docks—Eat awl West India, 11131 ; London, 53, 52.
Waterworks—Berlin, 41; Lambeth, 101 ; West Middle-
sex, 100.
Quel—Regent's, 23.

WEDNESDAY ERRING.
Console, which were quoted at 4 o'clock yester-
day 911, " buyers," for the 10th of April, opened
this morning at 911 to ft, fell to 911 to 6-16,
and close at 911 to 9-16. For money
the last price was 9111 to 1. The official
business report is as follows :—Three per Cent.
Consols, for money, 91i, 1,1, 4,1, ; ditto
for account (April 10), 914,1, lir ft ; India Stock,
220 ; ditto Five per Cent. ec , 991, 100 ; ditto
Four per Cent. Debentures, 1888, 961 ; Five per
Cent. " enfaced" rup7ocer, 931; ditto Fite-
and-a-Half per Cent.. 1 .
For the 9th of May the price of Console was
911 to 1, the "continuation" being 5-16 to per
cent.

The scrip of the New Indian LOW was quote".
100 to ; the Five per Cent. rupee paper 994tt0
4 9 ; and the Five-and-a-Half per Cent., tt.
IW}. Exchequer Bills were slightly firmer, at 28
to 7s. dis.

The foreign Mock market wail rather heavy, owing
to the uncertain position of politics on the Conti-
nent. Turkish Bonds showed chief sensitiveness
and closed at a decline of I to # per cent., the Loan
of 1854 being quoted 734 to 74 ; and that of 1868,
534 to 54. At one period of the day lower prices
were quoted. Mexican Bonds, after being marked
24, left off the same as yesterday, at 24# to
London and Westminster, London Joint Stock,
and Oriental Bank shares, were inquired for to-day.
In the niiicelLaneous share market there was no
alteration.

The closing quotations for shares in new under-
takings to-day were as follows :—Ocean Marine In-
surance, 2i to 3k prem. ; Thames and Mersey
Marine to 1 prem. ; Universal Marine Insurance,
1 to I prent. ; London and Provincial Marine
par to k prem. ; East India Irrigation to
die. ; East India and London Shipping, idle. to
prem.

Canada Government Five per Cents. were more
offered to-day.