The Express.
London, England, 1861-04-22 00:00:00

MONEY MARKET.-(THIS D 41.)

Two o'CLot.s.

The funds to-day are firmer. The continued fine
weather and the improvement on the Paris Bourse
have a favourable influence. The funds have risen
it per cent. Business throughout the Stock
Exchange is almost at a standstill. Prices of all
classes of public securities are, however, well sup-
ported•

At Paris this morning, according to Mr. Reuter's
telegram, the Three per Cent. Renter opened at
681 r. 40c., showing a fresh rise off per cent.
Consols are officially marked 91k and 92
for money, and 92 for the account. The
present quotations are 91k to 92 for money,
and 92 to k for the 9th of May. The official bu-
siness report is as follows :—Bank Stock, 234 ;
ditto for account, 232} ; Three per Cents. Reduced,
90*, ; New Three per Cents., 901, ;
Thirty Years' Annuities, expiring in April,
1885, 161; India Five per Cent. Stock,
102 i, 101 k, ; ditto, for account, 102 ; ditto
Four per Cent. Debentures, 1868, 961 ; ditto
1859, 961 • ditto Bonds, 155., 10s. dia. ; Four per
Cent. "enlaced" rupee paper, 78,1 ; ditto Five
per Cent., 944 ; Exchequer Bills, par, Is. prem.,
2s. dim.

The foreign stock market is likewise quiet, and
scarcely any change has occurred in prices.
The Turkish loan of 1854 is quoted 70 to
4, ex div. and that of 1858, 534 to 54.
Sales are recorded as follows : Brazilian
Old Five per Cents., 984, 4 ex div. ; Ditto
Four-and-a-Half per Cents., 1858, 87 ; Danish
Three per Cents., 1825, 82, ex div. ;
Dutch Two-and-a-Half per Cents., 641, 631 ;
Russian Five per Cents., 102 ; ditto Four-and-
a-Half per Cents., 1860, 90 ; ditto Three
per Cents., 1859, 614 ; Spanish Three per
Cents., 494, ; ditto for account, 491 ; Turkish
Six per Cents., 1858, for account, 531, 4.
. .

A financial operation of some importance has I
just been efrectml. We are enabled to state that
the Indian Government has just purchased from the
Bank of England the whole of the 848,3621. in
silver bullion which, as stated in the last return,
is held by that establishment. This amount com-
prises the balance of the 2,000,0001. of silver which
was taken by the Bank some months ago from the
Bank of France, in exchange for au equivalent
amount of gold. It will be despatched to
India on government account in instalments
by several packets. As notes have been
issued against this sum of 848,3621., its with-
drawal will operate upon the money market in pre-
cisely the same way as if it were gold. The magni-
tude of the specie requirements of the Indian
Government has excited some surprise. It is said
to be connected with the reduction in the cash
balances in the Indian Treasuries. We have
alluded before to the increase which has occurred
during the last few days in the mercantile demand
for silver for the East. As there is no supply of
the metal now in this market, what private shippers
want must be procured on the Continent, until
the promised Mexican remittances come forward,
and gold will be sent to the Continent in payment.
Some stimulus will probably be given to the demand
for money.

It appears that the commercial difficulties at
Marseilles, lately referred to, were only temporarily
adjusted. Much regret has been excited to-day by
the announcement that the two firms spoken of—
namely, Messrs. Gabrielle Hama and Co., and Messrs.
Demetrius Baltazzi and Co., both of that city—have
at last been obliged to stop payment. They are two
of the most eminent houses iu the Levant trade,
and it is believed that the aggregate liabilities will
not be ►ess than a million and a quarter sterling.
The bulk of their acceptances are held by the
Bank of France, and it is understood that the
unwillingness of that establishment to grant an
extension of accommodation has contributed to
bring their affairs to a crisis. Any loss that may
occur will fall chiefly abroad. In most quarters,
however, it is believed that the two firms
have merely been overtaken by the undue
extent of their engagements, and that the
assets will prove to be very large. The excellent
character for caution enjoyed by the management
of the Bank of France, who have hitherto given
them great support, affords much ground for this
hopeful view. It is considered by no means impro-
bable that assistance may yet be extended to them.
Meanwhile, a good deal of anxiety is felt by the
Greek interest here with regard to the effect of
these disasters in Constantinople, where each of the
embarrassed houses has an establishment. It may
be as well to mention that Messrs. G. Hays and
Co., of Marseilles, are understood not to bo part-
ners in the firm of P. Hava and Co., of London.
Messrs. D. Baltazzi and Co., of Marseilles, have
no house in London.

The amount of Australian gold known to be still
at sea is 628,0001., of which about 323,0001. is due,
or nearly due.
The Liverpool cotton market on Saturday was
firm at the late rise, but the rates did not exceed
8,000 bales.

The report of the Directors of the Royal Mail
Steam Packet Company, to be presented at the
meeting on the 24th, recommends the usual divi-
dend of 21. per share. As au unusual feature, we
observe that the directors have decided that the com-
pany's ships when in harbour shall be uncovered by
the insurance—that is to say, that the company shall
become their own insurers, and set aside LOW. a
year to the credit of a separate fund for the pur-
pose. If we mistake not this is a risk which many
of the shareholders will be very loth to incur, par-
ticularly after the warning recently conveyed by
the the on board the steamer L Plata in the
Southampton Docks. It appears that since that
event the insuranoeoffices concerned have demanded
an addition of 60 per cent. to their premium
(why, the report does not state), and that this is the
directors' motive for altering the company's prac-
tice. As the value of one of the company's ships
may be, perhaps, 100,0001., it will take many years'
accumulations at the rate of 1,0001. a year before
anything like security will be attained.
In the Court of Common Pleas, ou Saturday, exe-
cution was issued against the Great Ship Company,
at the suit of Mr. Scott Russell, who is adjudged
entitled to 18,0001., under the arbitrators' &watt
The Chief Justice observed, that " if Mr. Russell
got his writ, no doubt there would be a reconcilia-
tion between the Rallies, and some arrangement
would be come to.

A special meeting of the London, Chatbam, and
Dover Railway Company is called for the 3rd of
May, to consider two bills pendiug in parliament,
one of which is for extending the Metropolitan
Railway from Smithfield to Finsbury-circus.
The Union Bank of Australia announce the half
year's interest on the City of Melbourne Loan.
The particulars are published of various bonds
of the Swedish Provincial Mortgage Loan, which
are to be paid off at par on the Ist of June.

SATIIRDAT Sentra.
Consols, which closed yesterday at 924, " buyers,"
for the 9th of May, opened this morning at 92,
and closed at 911 to 92. For money the last price
was 913 to 1. The official business report is as
follows :—Three per Cent. Consols, for money,
92, 913 ; ditto for aooonnt (May 9), 92; Three
pee Cents. Reduced, 901, ; New Three per Cents.,
901, 3 ; Bank Stock, 231, 229 232, MO ; India
Stock,223, 222 ; ditto Five per Cent. 5t0ck,.1.02,A,
1011 ; ditto Four per Cent. Debentures, 1838, 9ti3,