The Express.
London, England, 1857-07-18 00:00:00

THE EXPRESS, SATURDAY EVENING, JULY 18, 1857.

MONEY MARKET.-THIS DAY.

Two o'CLocw.
The funds show a further improvement of to I
per cent. to-day, and the tone of the market is

strong. The remarks of the Chancellor of the Ex-
chequer bast night have produced a favourable im-
pression:

Consols, after standing at 9lj to 92, have further
improved to 92, "buyers; for the 6th of August.

Tho Three per Cents. Reduced are marked
91; to 92 ; the New Three per Cents., 911 to 92i;
India Stock, 214 to 2171 ; Bank Stock, 214 to

2151; India Bonds, 13s. dis. ; and Exchequer Hills,

4s. to I. dis.

Turkish Six per Cents. are again firmer, being
marked 953 and 953, and other descriptions are well
supported. The sales include Brazilian Old Five per
Cents. atlol to 1; Banish Five per Cents., 1011; l)utch
Two•and-a-Half per Cents., 61 ex div. ; Mexican, far
account, 221; Peruvian Four•and-a-Halt per Cents.,
for account, 801 to 811 ; Russian Five per Cents.
1091; Spanish Old Three per Cents., for account,

40i ; ditto Deferred, -251; ditto Passive
Bonds, 5: ; the Coupon Certifs., 51 per cent. ; and

Turkish Guaranteed Four per Cents. for account,
102 t.
- - - -

The commercial demand for money was yesterday
active. In some quarters trunsaetions took place
below the Bank minimum, but generally 5} per
cent. was the lowest rate, and the applications
at the Bank are understood to have been rather

numerous. Doubtless many persons delayed ap-
plying during tho last few days, in anticipation of
the reduction just announced.• In tho Stock ha-
change money was easy, at 5 to 5 per cent. on
government securities.
At Hamburg on Thursday the rate of discount ad-
vanced again to 6} per cent.
The impression has become stronger that there is
no chance of the proposed Turkish loan being en-
tertained. Pr0b....61y the project will be allowed to
drop.
. _

Parcels of Australian gold to the amount of
03,0001. were yesterday sent into the Bank, making a
total of between 370,000!. and 400,000!. this week.
The amount of specie brought by the Orinoco,
from the West Indies and Pacific, is about 181,5001.,
of which only about 11,0001. appears to be in silver.
We believe the total remittances of specie and bul-
lion to the East, by the Indus, on the 20th instant,
will reach only about 550,000/., showing a consider-
able reduction, compared a ith recent shipments.
On the 4th inst., the total was 859,220!., and on the
20th ult., 1,142,6161., being the largest ever known.
It is computed that the shipments of silver by the
packet of the 4th August will considerably exceed
those by the present steamer, about 200,0001. having
already been sold. This amount has yet to be im-
ported from the Continent or elsewhere. We un-
derstand that the real reason of the comparative
smallness of the shipments by the Indus rests with
the fall in the price of silver in London which fol-
lowed the recent reduction of the East India Com-
pany's rate of exchange. The price quoted for silver
here was too low to attract any large supplies from
the Continent. The silver market is now, however,
decidedly firmer, and the collection of silver on the
Continent will probably be proportionately stimu-
lated.
The arrival is reported of the steamer Baron Osy,
from Antwerp, with 70 cases and 3 bags of silver on
freight, estimated to be worth nearly 60,00(11.
The foreign exchanger yesterday afternoon were
generally rather lees favourable, owing probably to
the reduction in the value of money here. Bills on
Belgium, France, Hamburg, and some Italian places
were quoted lower. The decline was chiefly re-
markable as regards Belgium, where large amounts
of silver are in course of collection for this market.

The rate on St. Petersham was also somewhat re-
duced. As regards Frankfort and Leghorn firm-
nets prevailed; and the quotations for bills on Ilol-
land were steady. The current terms arc shown
below, viz.:

Amsterdam , three months, 12 to 12.01; ditto, short,
11.17 to 18', Itotterdam, there months, 12 to 12.01; Ant-
werp and Brooch, three month., 25.40 to 6; Hamburg,
throe months, 13.01 to ; Perla, three months, 25.60 to 5;
ditto, short, 25.221 to 7i,• Marseillea, three months, 25.64
to 71; Frankfort-on-the-Maine, three months, 119 j to ;
Petersburg, three months, 361 to t ; Vienne, three months,
10.30 to 1; Them* three months, 10.30 to 2; Naples!,
three months, 42 to ; Genoa, three months; 25.75 to 80 ;
laghash, three months, 29.871 to 94, ; Pelermo, throe months,
126 to ; Altssioa, throe months, 1241 to 129 Oporto,
these months, 121 to I ; Lisbon, threr months, 64; to I.

The corn market yesterday was decidedly heavy,
and to effect sake of wheat of any magnitude a decline
of 2s. to 4s. per quarter from the reduced quotations
of last Monday would have been necessary. All the
country markets show heaviness. In France the
prices of gain are still falling. Only one floating
cargo of grain has arrived off the coast since last
Monday, and the fall in our market is not calculated
to encourage consignments hither.
The Pelican has arrived from Shanghae with
275,7001b5. of tea on freight. The Acmel has also
arrived from the same port.
Tatters from St. Petersburg, dated the 10th July,
report a considerable fall in tallow, which wax
quoted 175 ro. for August delivery. The exchange
on London ruled at 374, to 38d., which will barely
allow of the exportation of gold to this side. In the
evert, however, of the rate declining below this
quotation, some moderate amounts may be looked
tor. The exchange on Amsterdam was quoted 186!
tot ; on Hamburg, 33 9-16 to 1146 ; and on Paris,
39 to 400.

.
Great Northern Railway stock has shown great
firmness during the last few days, owing to the anti-
cipation that the (amplify must now commence
their purchases to extingutsh the stock fraudulently
over-issued by ltedpatb. As the ordinary and A
stocks aro still at a discount—though in the former
case at a very trifling one—it is presumed that there
can be no legitimate motive for delay.
The announcement by the Ilnghton Railway
Company of a dividend of 21 per cent. for the
half-year scarcely affected the prase of the stock
yesterday.
The Admiralty will receive tenders on the 30th
inst. for the hire of two or three screw steamers,
to convey about 1,500 men from England to Hong
Kong.
- - -

s The Admiralty will receive tenders on the 11th
of August for the supply and delivery on the
western coast of Africa of 7,300 tons of coals.
The report of yesterday's indigo sale is subjoined :
Daring the isle to-day large quantities sere again with-
drawn, and One goods are raher wore difficult to buy,
and fully maintain the high advance catahliiihod. Other
qualities remain without alteration. Several panel. of Mo-
dem have oleo been withdrawn, thins being little disposition '
to pay current rates, and importer. were not willing to sell
at any reduction. B catalogue will commence on Monday.
The return of the Bank of England for the week
ending Saturday, July 11, compared with the pre-
vious return, shows the following results:
Circulation issue
Circulation active
Pübliedepesits
Other kiosks
Owerionnserit securities in
Itaiingdsperontent
Otsesedilsa in banking
dagsrlenset 16,455,171 Decrease 2,860,030
Cobs Ind Wilke in both
deparlasints
bass day and other Lille 710,688 Increase 62,073
Ths Rest
Notes la rearm ...... 6,461,180 Decrease 421,665
This return affords unmistakeable symptoms of an
easier money market. Thepaymentof the dividends
commenced on the Weducsiky in the week to which
the return refers, and led to a decrease of fully four
millions and three quarters in the Treasury balances,
yet, owing to the heavy repayments to the Bank (as
shown in the decrease of 2,1410,030 f. of " other
securities 1, and to the addition made to the " other
deposits," the decrease in the reserve of unemployed
notes is only 421,6651. The facility with which se,
large a mass of advances were repaid to the Brak
forms a most favourable feature. The Bank's par •
chases of gold during the week were more than
sufficient to corer the withdrawals of coin effected by
the dividend reoeirere. This return affords ample
explanation of the reduction of the rate of
discount.