The Express.
London, England, 1859-05-03 00:00:00

MONEY MARKET-THIS DAY.

Two o'CLocx.
Mr. Disraeli's explanations relative to the con-
vention between Russia and Franoe have tended
still further to reassure the public mind, and have had
an immediate effect on the funds. Consols opened at
an advanos of about 3 per oent., and, after attaining
an extreme rise of / to 1 per cent, are now
quoted 1 per cent. higher than they closed
yesterday. Daring each of the last three
days a recovery of moderate amount has
thus been established. No further failure. have
been announced in the Stock Exchange. The
attention of the dealers is principally occupied with
the monthly settlement in Consols.
Consols, which closed yesterday at 90,
were first marked this morning 901 for the
6th of May, and were soon dealt in
as high as 91. The present quotation is
901 to j, both for money and the account.
Bank Stock has been dealt in at 216
to 220 ; the Three per Cents. Reduced
at 89/ to 90 ; the New Three per Cents., at 891 to
t ; the scrip of the New Indian Loan, at 91 to 911

eh owing a considerable rise. India Bonds, at 10s.
to 20e. prem.; and Exchequer Bills, at 19s. to 261.
prem.
Before the official opening of the Paris Bourse
tide day, the Three per Cent. Renter were dealt in
(according to Mr. Banter's telegram) at 60fr. 65c.
he the account, showing a fresh fall of about per
cont, compared with the last price of yesterday.
In some instances foreign stocks are rather firmer
under the influence of investments. Rus-
sian Four-and-a-Half per Cents., for in-
stance, are marked 93, and the Turkish
Guaranteed Four per Cents., 100, both for cash.
, Speculative securities, on the other band, continue to
asset with little attention. Thus Turkish Bonds
present no recovery, the Old Six per Cents. being
I quoted 63 to 66, and the New Loan, 53 to 68. Sides
1 are recorded as follows :—Brazilian Old Five per
Cents., 98, 96 ; ditto, Four-and-a-Half per Cents.,
1868, 901, 89; Buenos Ayres Deferred Bonds,
17 ; Peruvian Uribarren Four-and-Half per Ceuta,
76; Portuguese Three per Cents., 1863, 40;
Russian Four-and-a-Half per Cents., 93 ; Sardinian
Five per Cents., for account, 691, 68 ; Turk-
ish Six per Cents., 1864, 68 ; ditto for account,
88, 83 ; ditto Six per Cents., 1868, for account, 64,
63, 88 ; ditto Guaranteed Four per Cents., 99, 100 ;
ditto for account, 981 ; Venezuela Deferred Two per
Cents., 141.
The Champion of the Seas has arrived from Mel-
bourne, with 92,2001. in gold.
Not until the payment of the monthly differ-
ences, fixed for Friday next, shall have been
completed, can the Stock Exchange be said to have
fully weathered the storm, the effects of which are
still painfully apparent. Fortunes have been shat-
tered on every side, and the most desperate efforts
have been rendered neensary with the honourable
object of upholding, at whatever sacrifice, individual
credit. The influence of such wide-spread embar-
rassments is more than transient Although a calmer
tone pervades the various markets, and no further
failures have been declared, the actual recovery in
prices is principally confined to the English funds,
Many other dames of securities are still prejudiced
by continued realisations for account of embarrassed
houses in the Stock Exchange. This is more espe-
cially observable as regards stocks which have been
held largely within the establishment, such
as Indian and Brazilian guaranteed railway shares,
Be. The public are evidently disposed to absorb
securities at the reduced prime; but, for the moment,
the effect of their purchasee is neutralised by forced
ales. The market for British railway shares,
amongst others, is likewise restrained by the realisa-
tion of stock held on borrowed money. Generally, it
may be remarked, transactions are attended with
considerable difficulty, and involve a good deal of
negotiation.
The holders of the two millions of Exchequer
Bonds, who are to be paid off on Monday next, have
now an unusually favourable opportunity for re-
investment. It is probable that a considerable por-
tion of this money will flow into the Indian Four
- per Cent. Debentures. Its release will tend to
- relieve the pressure in the money market, though
of course involving a corresponding drain upon the
Bank reserve.
The demand for money yesterday was brisk, and,
as in eonsequence of the high charges of the dealers in
respect of all but the shortest-dated paper, a large
amount of business has again been carried to the
Bank. The demand indicates the existence of a con-
siderable degree of timidity, and, should the with-
drawals of gold be continued, may ultimately cause
an advance in the minimum to 4 per cent. Only
paper having 30 or 45 days to run is taken in
Lombard-street at 3/ per cent.; for longer periods, 4
and 41 per cent. is demanded, and six months bills
are exceptionally treated.
The amount of gold withdrawn from the Bank
yesterday for exportation was 86,0001., making a total
of 166,0001. since the date of the last return.
In some of the French letters the anticipation is
expressed that the Bank of France may ere long be
compelled to raise their rate of discount.
- In the wheat market yesterday a fresh rise of la. to
- 2s. per qr. took place, snaking a total advance of 10s.
to 12s. per qr. since last Mooday.
The 145,000/. by the Heatherbell and Austral,
from Australia, will be taken for the Continent se
soon as delivered.
The exact amount of specie engaged for transmis-
sion to the East by the steamer Indus to-morrow
is 367,0721., of which 12,2581. is gold and the teat
silver. The whole of the silver for Calcutta is re-
mitted by government. Subjoined are the particu-
lars: for Calcutta, 323,0001.; for Hong Kong,
28,0641.; for Madras, 7,4531. ; for Manilla, 3,6001.;
for Alexandria, 2,0001. ; for Shanghae, 1,800/. ; for
Ceylon, 1,0651. ; and for Aden, 1001.
The demand for silver for the Continent has sen-
sibly slackened, but the quotation here is still main-
tained at 621 d. This high price tends greatly to
check private remittances of silver to the Feat.
The government contract for 50,0001b5. of tea was
taken on Friday by Messrs. Strachan and Co., of

Cornhill.
The Brighton Railway traffic return shows this
week en increase of 8761.
The numbers are published of bonds of the Danish
Three per Cent. loan to the amount of 60,40a,which
have been cancelled.
The effect of the war panic on the pi oduce market
is thus noticed in the monthly circular of Messrs.
Trueman and Rouse :
The extreme uncertainty, &trust, and anxiety, which
bare herr-4 the public mind durieg the last ten days have
to a great extent paralysed the trade in all articles, except
Haas likely to be immediately improved in value by war,
each as saltpetre, corn, lice, setaseallow. &e., all of white
have been largely dealt in, and exper.eaced a decided
advaace. The holders of sager, cotton, end coffee, generally
show great firmness, aad calmly await the coarse of events;
the stocks are very moderate, aad hence) there appears to be
no reason for forcing these goods upon reuctent buyers.
The statistics of sugar are thus noticed by the same
authority :
The poeiVon of sugar se regards statistics remains without
any material alteration except that the imparts have rather
increased. haling been 32,900 tons sublet 26,800 in Much.
The deliveries for home consumption from the fire princip .1
poets of Great Britain t are fully averaged those of the Brat
three months, being 31,600 tour, and have just kept pace
with the supply ; the stock, therefore, remains surly the
game as on the let ult. The consumption of raw auger in
the United Kingdom la the three mouths end rag 31st bleach
wax, according to the Board of Trade table. just issued,
103,770 tons against 107,810 hit year.
With reference to the silk market, the circular