The Express.
London, England, 1857-01-05 00:00:00

MONEY MARKET-THIS DAY

Two o'CLocz.

The rands remain quiet at the closing quotations
of Saturday. In the other departments of the Stock
Exchange, firmness is maintained.
Consols are quoted 94 to 1 ex div., for the Bth
of January. The Three per Cents. Reduced
have been dealt in at 941 to 1; the
New Three per Cents., 941 to 1; Bank Stock at 2181
to 218; Exchequer Bills at 2s. to 4s. prem. ; and
India Bonds at 34. prem.
Turkish Six per Cents. were first marked 961,
and are now quoted 96 to 1. The Guaranteed
Four per Cents. are quoted 1031 to 1.
Other foreign stocks are steady The sales
include Brazilian Old Five per Cents, at 1011; ditto
Small Bonds, at 1001; ditto Four-and-a-Half per
Ceuta., 1862, at 981; Chilian Six per Cents., at
1041; Dutch Two-and-a-Half per Cents., at 641 ens.
86 ex div. (each., 12fi.) ; French Four-and-a-Half
per Cent. Rentes, 92f. (exch. 26f. 20c.) ; Russian
Four-ands-Half per Cents., 961 to 96 ex div. ; ditto
(small bonds) 971 to 971 ex div. ; Sardinian, Five per
Cents., 881; and Swedish Four per Cents. at 861.
Telegraphic advices have been received from
Constantinople announcing that the long-expected
adjudication of the proposed State Bank and Loan
has at length been made. We understand that a
charter for a new banking company, to be called the
National Bank of Turkey, has been granted by
the Sultan, to the representatives of certain English
capitalists, but not to the Ottoman Bank, the shares
of which to-day consequently experienced a fall.
The charter is understood to accord great privileges
for a term of years, bat upon condition that the
present currency shall be re-
deemed. deaciltelver&e: necessity of a state loan,
reported to amount to ten or twelve millions sterling.
Eight millions of this, according to one account, is to
be applied to reforming the currency; whilst four
millions, or thereabouts, will go to relieve the
financial necessities of the government. The tele-
graph further reports that the loan is to consist
of a six per cent. stock, to be issued at par. It
is believed that special revenues of a valuable cha-
racter are assigned for the security of the new loan ;
but, conaidtring that the existing six per cent. stock,
with the undisputed right to the Egyptian tribute,
commands only about 96 per cent. in the market, it
is assumed that the contractors for the new loan
must have made some special arrangements, the na.
tare of which has yet to be explained. As an in-
dependent financial operation, the loan would ine-
vitably fail of success if offered at the rate of 100
per cent. It is presumed that the government
means to devote a portion of the funds to pay off the
other loans recently contracted upon onerous terms.
Further advice* are awaited with much interest. A
loan of this magnitude would exercise an important
influence upon the money market, since Turkey
would doubtless require the money in gold.
The announcement of the contract at Constanti-
nople caused at once an important fall in the ex-
change. The rate on London descended from 138 to
128, and that on Paris to 201. We may here re-
mark incidentally that, although the Ottoman Bank
has lost the concession for which it bad entered into
competition, this movement of the exchange mate-
Tinily enhances the value of its investments in
Turkey. It is supposed that the Ottoman Bank
will now carry on -liminess as • simple commercial
institution, upon the plan hitherto pursued by it.
It appears that the amount of gold brought by
the John Bunyan, from Sydney, instead of being
27,000 oz., as recently reported, is only 2,700 oz.,
worth about 10,8031. This sum was on Saturday sent
into the Bank.

The other supplies of the precious metals re-
last week comprise 632,0001. by the Red
Kern, from Melbourne ; 62,8001. (of which only
12,000!. was on English account) by the Arabia, and
68,369 dole. by the Atlantic, both from New York;
and 37,8221. by the Tagus, and 37,1351. by the
Sultan, both from the Peninsula.
The total value of the week's arrivals is not less
than 684,000!. Amongst the imports of silver from
Antwerp we also notice 18 owes and 1 bag by the
Ray , and 2 cases by the Baron Osy.
The shipments have also been very heavy. The
Custom-house statement of the exports of the pre-
cious metals direct from London during the week in-
cludes 9,968 ounces of gold, and 66,400 ounces of
silver, represinting a total value of about 65,0001.
The gold was sent chiefly to Boulogne, and the silver
to Hamburg. The details are as follows.—viz.:
Gold coin :to Boalogne, 960 ounces. Gold bars : to
Boulogne, 9,008 ounces. Silver coin :to *lsadore,
10,000 ounces; to Boulogne, 4,300 atmessietzogßiott-
tads:a, 62,000 ounces. Silver bars, to e,
100 ounces.
The exact amount of specie and bullion shipped
on board the Colombo, which was to leave South-
ampton for Alexandria yesterday, le 430,1961., being
much below recent remittances. The of
gold is only 2,091 L, the remaining 11141., eon-
Meting entirely of silver. The sum ilosibeil he
China is 119,4951. The particulars me as Moira,
viz.: for Bombay, silver, 249,4461. ; for Ceylon,
gold, 711. ; for Marla, silver, 2,026!. ; for Calcutta,
silver, 40,1701. ; for S. , silver, 16,9701., and
gold, 2,0201.; for Hong Kong, silver, 62,6371. ; for
Canton, silver, 9,4941. ; and for Shanghae, silver,
47,364!.
The other shipments from the outports include
6,6001. by Madrid, for the Peninsula ; and
116,0001. the Magdalene, for the West Indies and
Mexico. total shipments of the week, as
ofßeially reported, are thus raised to 606,0001.,
eliedly in silver. The private remittances of gold
to the Continent have comprised, in addition, the
whole of the 66,0001. received from New York ; and
not far short of 400,000/. of the amount ex the Red
Jacket.
Reverting to the shipments by the Colombo, we
recapitulate, to facilitate comparison, the total
remitted by each of the last Ave steamers leaving on
the 4th of the month, viz. :

Ilepiember 4, par Twine
Weber 4, per PM
November 4, per PEW
December 4„ per Wpm
January 4, per /pi a.
It remains to be seen wird= the oesemmo in the
remittances eastwards will ba pommel*.
The ship Melbourne has aeriied from Sydney, but
is not known to have any gold on freight. The dates
by this vessel are old.
The " Association for prompting the Interests of
the Traders of the Port d Lesion" Oa mike that
a public meeting of merchants, banks" and traders
will be held at the Loam Tavern, ea Wednesday
next, with reference to the decision of the Court of
Error in the recent ease of " K 4.. and Swinford
v. Merry "—a decision which Ime ensiled consider-
able sensation amongst the moreantile community.
The chair is to be taken by BIM Lionel Roths-
child, M.P.
We have satisfaction in MME that the arrange-
ments for the transfer of the One fret of the General
Screw Steam Shipping Company to a new company
have been brought to a satisfactory conclusion. It is
anticipated that the vessels will be actively employed
between this country and the American and Brazilian
coasts within a few weeks.

,1136,7101
773,763
W 7,16

The secondoliiina;y general meeting of the share-
holders of the City Bank is called for the 20th inst.,
when a half-yearly
dividend is to be declared ; and
the half-year y meeting of the Colonial Bank pro-
prietors for the 14th inst.
The half-yearly meeting of the City of London
Gas Company is also called for the 21st inst., when a
dividend is to be declared.
A sum of 6e. per share is to be returned to the
shareholden of the Australasian Pacific Mail Steam
Packet Company on the 12th inst.
A special general meeting of the British Telegraph
Company is called for the 12th inst., to confirm the
resolution passed at a previous meeting.

SATUID/T EITVINO.

The funds opened at a decli;llper cent. this
morning, the Bank return being less favourably
viewed, whilst the rumours of an impending Turkish
loan excited some discussion. At the close, how-
ever, prices had recovered to the final quotations of
yesterday. The other departments of the Stock
Exchange showed great steadiness..