The Express.
London, England, 1861-07-12 00:00:00

MONEY MARKET.-(THIS DAY.)

THE NEW INDIA LOAN.
Two o'Cioca.

Great excitement prevailed in the City to-day in
connexion with the adjudication of the new
India Loan. The tenders were to be lodged
by twelve o'clock this day, but the crowd
of applicants was so large that consider
able delay occurred. It is rumoured that
the applications reach at least twenty mil-
lions. The Stock Exchange is in a state of
great suspense, awaiting the result. It has just
been officially announced that the government
reserved price is 94 per cent. A large amount
has been written for as high as 99. This will
probably be allotted in full. The rumour is that
the Hebrew party have subscribed fur a very
large sum at 98/, and that it is doubtful if
they will obtain any portion, and the distribution
will apparently be made chiefly to bidders above
that price.

The scrip of the new India 4,000,0001. loan has
been in great request, and has touched 1001- to 4.
A relapse has since taken place to 99j to I, the
present quotation. The Old Five per Cent. stock
is now quoted 90 to I, both for money and the
account.

The funds have been firm. At one period a fresh
rise of percent. was quoted, but within the last
half hour prices have returned to the closing quota-
tions of yesterday. In the other departments of
the Stock Exchange there has not been much
business, speculative attention being completely
diverted to the Now India Loan.
At Paris this morning, accotding to Mr. Renter's
telegram, the Three per Cent. Reuter opened at
67fr. 80c., showing no change.

Consols are officially marked 90, ,1„ and I fur
money, and 901 and I for the account.
The present quotations are 90 to I for
cash, and 901 to 5-16 for the 7th of
August. Half en hour ago the price for the
account was 901 to i. The official business re-
port is as follows :—Three per Cents. Reduced,
MI, 1, I ; New Three per Cents., 89k,
; Thirty Years' Annuities, 1885, 15 11-16 ;
Indian Five per Cent. Stock, 99, 981, 991; ditto
for account, 99, g ; ditto Four per Cent. Deben-
tures, 1864, 961.

In the foreign stock market the transactions have
been upon a moderate scale. Turkish bowls
are steady, the loan of 1854 being quoted
761 to f, and that of 1838, 61} to
I. There are more inquiries for Mexican
Bonds, which are last marked 22i. Sales are re-
corded as follows :—Austrian Five per Ceuta., 49
(exchange 108.) ; Brazilian Old Five per Ceuta.,
99; Buenos Ayres Six per Cents., for account,
88 ; Dutch Two-and-a-Half per Cents., 63i, ox
div. (exchange 128 ) ; ditto Four por Cent. Cer-
tificates, 100 ; Mexican Three per Cents., 22f ;
'ditto, for account, 22g, it ; Portuguese Three per
Cents., 1853, 46, }, ex div. ; ditto, for account,
' 457., ex div. ; Spanish New Deferred Three per
Ceuta., for account, 41, ex tlir. ; the Committee's
Certificates, ae, ; Turkish Six per Cents., 1858,
fur acoount, 61N, ,3 ; ditto, 1001. Bonds, 0211 ;
ditto Guaranteed Four per Cents., 1001 ; ditto, fur
account, 101.

Fova o'CLoci.

Console are flatter compared with 2 o'clock."
being quotod 20 for money, and 901 to I for the
recount.

Under the influence of the dividend money the
discount market yesterday was decidedly easier.
The demand at the Bank was very slack, and in
other quarters transactions took place at si to al
per cent.

In the Stock Exchange the rates for short loans
on government securities were about 311 to 4 per
cent.

The fortnightly settlement iu shares and foreign
stocks will commence to-morrow ("Continuation
day") and terminate on Tuesday.
The amount of gold taken to the Bank yesterday
was 40,0001. The North American, for Quebec,
which left yesterday, took 05,815 L iu specie.

The Bank have notified *reduction from 76e. 3d.
to 74.i5. 2d. per ounce in their price for French gold
coin. The advance, in May last, to the former
rate has assisted to attract considerable supplies
of this coin.

At the meeting of the creditors of Mtssrs. J.
Duncan and Co., Gas spinners, of Dundee, held on
Wednesday, it was proposed to pay a composition of
2s. in the pound, in instalments at six, twelve, and
eighteen months, but a committee was appointed
to investigate. A winding-up in bankruptcy, in-
volving a forced realisation of the mills and fac-
tories, would of course greatly reduce the divi-
dend. The firm was connected with Messrs. Smith,
Sinclair, and Co.
The Eastern Counties Railway traffic return
shows this week a decrease of Lh36l. ; the Lanca-
shire and Yorkshire a decrease of 1,7461. ; the
Midland a decrease of 1,2111. ; the Manchester,
Sheffield and Lincolnshire., a decrease of 3841. ;
and the North Eastern an increase of 2,1631.

The meeting of the Belgian Eastern Junction
Railway Company, called for to-day (Friday),
it further adjourned to the 10th of Angie4t,
the arrangement with the Belgian government nut
being yet ixonpluted.

Tho position of the market for American Aecnri-
ties is noticed xs follows by Masan. D. Bull, Sun,
and Co. :

During the past week the business in American securities
has been very limited, and, with the exception of en im-
provement of about 1 per cent. in United States Fire per
Cent. Bonds, prime contirme without altenetion.
The return of the Bank of England fur the week
ending Wednesday, July 10, compared with that
for the previous week, shows the following changes :
Circulation issue
Cimuleition active ..
Public deposit. 3455,613 Diereses 4,031,731
Other deposits
.vernmeut securities is
booking department
Otherseeuritim in banking
department
Coin and bullion in WI
departnamta 11,674,290 Decrease 397,473
Revels dry and other bills 616,192 Decrease 1.721
The Bost ........
Notes iu reserve
Total reeerve (notes& coin)
in bsokin department 6,166,804 Decrease 31C,Stai
The changes shown in this returu—iccluding the
further decrease of 397,4731. in the coin and bul-
lion, and of 316,8881. in the reserve—are princi-
pally caused by the payment of the dividends,
which commenced un Tuesday. The unfavourable
tendency of the Dank accounts may have some
influence on the biddings fur the loan to-morrow.

HANK n? VCOLAND.—AD Ammon pursuant to the Act 7th
11114 i th Vk., C. IS. for the week enalln uu We4well.iy, July
le, Icel.