The Express.
London, England, 1857-04-28 00:00:00

• I
at a

-MONEY MARKET.-THIS DAY.

Two o'CLoci.

The funds opened more firmly this morning,
and, u purchasers predominated, a recovery
of to per cent. was attained. The
Bank have since announced, however, that they
will only lend on gevernment stocks for seven days,
and the market Wks fallen. Present quotations

arc per per cent. worse than the closing range of yes-
terday. Money is in great demand in the Stock
Exchange, at 7 to 8 per cent. on government secu-
rities.

.....
Consols for the ith of May were first marked 921,
touched 93, and are now quoted 921, " sellers."
For money the present price is 921 to a. The
Three per Cents. Reduced have been dealt in at
91.! to 1 ; the New Three per Cents. at 911 to 1;
Bank Stock at 213 to 215; Exchequer Bills, June,
at ss. to 38. dis. ; and Exchequer Bonds, 1858, at
981.
Turkish Six per Cents. were a little firmer in the
morning, being marked 921, 921, and 921 for money,
and 931 for the 14th May, but the market is
now flat again. Other foreign securities are
dull. The sales arc limited to Brazilian Four-
and-a-Half per Cents., 1852, at 961; Dutch
Two-and-a-Half per Cents. at 6.5 (exch., 12fl.);
French Three per Cent. Rentes at 69fr. 50e.
I (each., 25fr. 221 c.) ; and Guatemala Five per Cent.
Bonds at 56. - -

In view of the continued stringency of the money
market, specUlative holders of securities arc gra-
dually closing their accounts, being unwilling any
longer to pay the heavy charges current in the
Stock Exchange.
The amount of silver an yet sold for shipment to
the East by the steamer I'era, on the 4th of May,
is about 300,000!. Judging from present appearances,
the total remittances by this vessel will be consi-
derably below recent shipments. It is thought in
some quarters that the aggregate will scarcely reach
half a million. The decline in the exchange at Cal-
cutta is one of the reasons assigned for this altera-
tion, which, if permanent, would form a favourable
feature for the money market.
The Paris journals are still occupied with discussions
as to the mode in which the four millions sterling,
forming the new capital of the Bank of France, are
to be employed. There is still, evidcntly,a lingering
hope that the arrangements in course of organisa-
tion will enable the Bank to relieve the market of a
portion of the superabundant supply of floating stock.
This is always the panacea of the speeulators,who are
reckless of all consequences provided they can see their
way to a new period of inflation. Whether this be
attained by a wholesale pledging of stock at the
Bank, or by an unsafe issue of paper money, matters
not to them. The government and the Bank, how-
ever, will doubtless act upon sounder principles.
At Hamburg the rate of discount has advanced to
7 to 7i per cent.
The monthly, Board of Trade return? exhibit a
continuance of that remarkable activity in the export
trade to which many persons attribute much of the
monetary stringency now witnessed. The exports
last month were 10 per cent. more than in 1856,
and 43 per cent. more than in 1853 ; whilst those of
the first quarter of the year were 14 per cent. more
than last year, and 53 per cent. more than in 1855.
It appears from private advises from Vera Cruz
that 460,000/. in silver was awaiting shipment at
that port. The Mexican steamer, due at Southamp-
ton on the Ist of May, is expected to bring a very
heavy remittance.
The shares in the Russian railways were nominally
quoted yesterdayr to; prem. With a view to help the
project, liberty has been obtained from the Russian
government to deposit this stock at par, in lieu of
caution money for concessions, &e. ; but it doe. not
appear very clearly what is the value of this privi-
lege under the circumstances.
The wheat market yesterday was firm, and an ad-
vance of about Is. per quarter over last Monday's
rates is reported. The arrivals of foreign barley
and oats in London last week were large. Only
two grain laden vessels have arrived at ports of al
since Friday.
Reports are afloat that the East India Company
are about to grant a guaranteed rate of interest upon
several of the new railway projects lately organised.
According to one rumour the two companies for
constructing railways in Oude are to be amalga-
mated. According to another, the Punjaub Rail-
way will receive a guarantee, but not upon its full
capital of 2,500,0001. All these statements, we may
remark, must be received with caution.
The adviees from Havre report the failure of a
t stock banking house in that port, known as the
Caisse Commerciale of Valle and Co. The capital of
the firm was about 24,0001., but it is thought that
the liabilities will prove considerable. In some
quarters losses on the Bourse are spoken of as the
cause.

At the meeting of the London General Omnibus
Company, just held at Paris, a dividend of ss. per
share was declared. This is at the rate of 121 per
cent. per annum. A resolution was also carried for
the caneeknent of 30,000 unissued shares, it being
stated that this portion of the company's original
capital is not required.
The traffic of the Brighton Railway Company last
week was 14,4781. 4s. 94., against 17,280/. 1 Is. 2d.
in the corresponding week of lest year; but the de-
crease is explained by the fact that last year's
statement included the traffic arising from the naval
review at Portsmouth. _

We arc informed that the directors of the Calcutta
and South Eastern Railway Company received by
the last mail from India the plans, estimates, and
working sections of the first section of the line, ex-
tending from Calcutta to the head of the river
Mullah. It is stated that these surveys corroborate
those made two years ago by the government of
India. The Mutlah is already recognised by English
shipowners u a port, and several vessels of large
tonnage are now loading there for this country and
other places. Colonel Kennedy has been elected
chairman of the company, in the room of Mr. A. J.
Lewis, lately appointed Advocate-General at Bombay.
It is stated at I'aris that the forthcoming dividend
of the Paris and Lyons Railway Company is fixed
at 56f. per share, making 81f. for the whole year
1856. The Lyons and Mediterranean Company's
dividend, it is also stated, will bo 87f., making
for the year 1856.
Several fresh and important sections of the
Western of France Railway Company arc about to
be opened.
We have already reported the telegraphic news
of the return of cold weather at St. Petersburg.
Advice': dated the 23rd inst. remark :—" Winter has
suddenly set in again, with snow. Yesterday there
were 11 degrees, subsequently 6 degrees, and today
4 degrees frost, with the wind at north-west. There
has been a drift of ice in the Neva yesterday and
to-day."
Letters from Copenhagen, of the same date, re-
port :—" This morning it blew a gale at east, with
a heavy fall of snow, and n degrees frost."

NONDLT EVENING.

The funds and other Stock Exchange markets
were visited by increased depression to-day. Consols
exhibit a further fall of per cent.; and in many
classes of English railway stocks a reduction of I
per cent. was established To a certain extent the
markets are still prejudiced by the apprehension of
• large waste of money in the Chinese war ; but the
fall is precipitated by the approach of the settlement
in shares and Consols.

The demand for money in the discount market
was to-day active, and the supplies on offer were
fully employed. Former rates are quite supported.
In the Stock Exchange short loans on Consols were
obtainable on comparatively moderate terms ; but
the approaching settlements will stimulate the
demand.

Consols, which closed on Saturday at 93 to for
the 7th May, opened this morning about 93, and
closed flatly at 922 to For money the last price

' was 921 to 'The offi.did business report is as fol-
lows :—Three per Cent. Consols, for money, 921,
921, 921 ; ditto, for account, 7th May, 93, 921, 921.
Three per Cents. Reduced, 91f, 91/. New Three
per Cents., 91/, 1, 1. Thirty Years Annuities, ex-
piring in April, 1886, 17 15-16. Bunk Stock, 213.
India Stock, 220, 222. Three-and-a-Half per Cent.
Exchequer Bonds, falling payable in tsas, 981, NI.
The New Two-and-a-lialf per Cents. were also
officially marked 761.
The March Exchequer Bills were quoted 2s. dis.
to '29. prem. ; the June Bills ss. dia. to par ; and Ex-
chequer Bonds, 981 to 1.
In the foreign stock market the principal feature
was the severe fall of 11 per cent. in Turkish Six
per Cents. Sales of this stock were freely pressed,
the cause assigned by rumour being the withdrawal
of loans by a London bank. Transactions were
marked in the morning at 93: and 931, but the price
hail fallen at the close to 921 to 1. In Turkish
Guaranteed Four per Cents, the reduction was
trifling, the closing quotation being 991 to 100.
Other foreign stocks were dull, and in some rases
rather flat, but with little alteration in price.