The Express.
London, England, 1852-02-19 00:00:00

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MONBY MARKET.

THIS DAY.

Two o'Ciocw. :

Consols opened at 97 to 971 for money and aocouot,
being an improvement in yesterday's prices. At the
rate already given Consols have remained and been
dealt in all the morning, but a statement was lately
prevalent that the Bank of England had at their
meeting to-day reduced tho rate of discount. In con-
sequence of this the tone of all the markets improved,
and Consols were called 971 to This rumour however
did not turn out to be true, sad prices immediately
receded. No business was done at the advanced
rates. A report of an intention on the part of the
Bank Directors to reduce this rate has been
prevalent for some time, but we have not thought it
right to give it currency, because there were many
considerations which were opposed to such a
resolution. It is true, that when such a
step is taken by the Bank, it will be-
taken suddenly enough; but, although the rate for
money in Lombard-street is very low, and the Bank
has a largo share of unemployed capital, it is slow in
making changes from which it cannot hastily recede,
and there are many circumstances which may
influence the rate of dismunt. The share which the
Bank takes in discounting is seldom very materially
increased after a reduction of rates, and the directors
therefore, geserally willing to r on with their

and do a little more baßeesenvitbent
profit. Whatever the value of money,it must be borne
in mind that in a quiet time like this the number of
first-clam securities is limited,and that a reduction of
rates does not create a greater amount of business to
any extent' adequate to compensate dealers in money
for the change they are compelled to make.
The official report of the business transacted is:—
Three per Cent. Consols Annuities, 97}, 97; ditto
for Account, 971, 97. Threo per Cent. Reduced
Annuities, 97i, I. New Three-and-a-Quarter per
Cent. Annuities, 90, 991. Long Annuities, 7 1-16,
k. Bank Stock, 217, 218.
Exchequer Bills opened at 58s. to 61s. prem., but
have been last dealt in at Is. advance, namely, 595.
to 625. prem. The alarm that was created by the
absurd proposition of reducing the rate of interest on
Exchequer Bills has now subsided. In India Bonds
little has been done. The transactions officially re-
ported are :—Exchequer Bills of the several descrip-
tions, 585., 625. prem. India Bonds under 1,0001.,
695., 71s. prem.
In the foreign stock market there has been an
unwillingness to operate, but prime have been tole-
rably well supported in most cases. In Mexican
Bonds there have been a few dealings, but these have
been at the closing rates of yesterday, 32„1 to 1.
Peruvian Bonds are steady, and Grenada Bonds sup-
port their quotations. In Portuguese a considerable
rise has taken place, though on no solid founda-
tion. Equador Bonds have now receded to 4:3,
to I, it being thought by some of the regular
investers that little good can result from
operations having an irregular origin. The large
amount of stock proposed to be awarded as commis-
sion, is, it is to be understood, to be divided between
Mr. Mocatta, the agent just appointed, and Messrs.
Powles, of B. , ,ta, the late agents, who have done
nothing, and t us a heavy charge will be unneces-
sarily laid upon the bondholders. It is satisfactory
to know that the advances made for the
mission of Mr. Mocatta are to be repaid.
The transactions, as officially recorded, are :
Brazilian Old Bonds, Five per Cents., Small,
90. Buenos Ayres Bonds Six per Cents., 53. Chilian
Bonds, Six per Cents., 103, 101. Dutch Bonds, Two-
and-a-Half per Cent., 59j, 59; ditto Four per Cent.
Certificates, 921. Equador Bonds, 41, t. Grenada
Bonds, 21 ; ditto, Deferred 8. Mexican Bonds for
Aoocount, 321' ; ditto 5ma11,32.1. Peruvian Five per
Cents. for account, 983 ; ditto Deferred, 483, I.
Portuguese Bonds, Four per Cents., 341. Spanish
Coupons, 93 ; ditto, Old Three per Cents., 41 ; ditto
New Three per Cents. Deferred, 18j, Venezuela
Bonds, 363; ditto, Deferred, 15.

The committee of Mexican bondholders have sent
as a notiticationcon6rming the information published
by us yesterday:

That Mr. Fdteonnat hu procured the funds required for
the payment of the Jan. dividend, and placed them at the
disposal of Colonel Facia, with whom, therefore, the nixes-
wry arrangements for effecting the payment now rests.

The meeting of the Pastern Steam Navigation
Companywas held yesterday, when the report, the a
yen'
wee
reel Ther-
port of which we have already gi
proceedings were merely formal.

There have been few transactions in metropolitan
Bank Shares, most of which took place at the time
of the half-yearly meetings, but there have been
several dealings in Colonial Shares. The last trans-
actions reported are : Bank of Australasia (40/. paid),
38, 391, 38! Bank Bank of British North America (501.
paid), 48 ; Colonial Bank (231. paid), Ila, ex div. •,
Commercial Bank (201. paid), 241; London snot
County (20/. paid), 21#; London Joint-Stock (101.
rid), 181, 1, ex div.; London and Westminster
01. paid), 291, ex div. ; Provincial Bank of Ire-
and (2.51. paid), 431, 43 ; ditto New (101. paid), 16 ;
South Australia (251. paid), 241; Union of Aus-
tralia (231. paid), 35# ex div. and bonus; Union
of London (101. paid), 151, 15.

The rise in East and West India Dock shares con-
tinues, and they have reached 1483. London Dock
shares are better. Transactions in dock stock are
901; East and West India, 1471,1481
ex div. ; London, 121, 122, 1221, ex div. ; St. Katha-
rine, 811.
Peninsular and Oriental Steam
.Navigation shares
are firmer. The price of steam navigation stocks are:
—General Steam 281, 28 ; Peninsular and Oriental
Steam, 691, 70; ditto New, 17; Eastern Steam,
3, I* prem.
The dealings in insurance shares have been of the
usual character, and there has been scarcely a frac-
tional variation in price, except that Globe shares are
11. higher, and Imperial Life have reached 191. The
latest quotations of the market are as follows : Albion,
86; Alliance, 211 ; ditto, Marine, 411, ex div. ;
Anchor, 11; Atlas, 171, ; British Commercial, 01;
Church of England,3l
Clerical, Medical, and General,
201; Crown 13; Eagle, 7; Equity and Law Life,
41; English and Scotch Law Life, 31 ; Euro-
pean Lite, 12; General, 51 ; Globe, 134, ex div. ;
Guardian, 531.1 Imperial Fire, 245 ; ditto, Lifo,
195; indemnity Marine, 49, ex div. ; Law
Fire, 31 ; Law Life, 463; Legal and General
Life, 51 •, London Fire, 213, 4 ; London Ship,
211, 3 ; Marine, 155; Medical, Invalid, and Ge-
neral, 21 ; Monarch, 195.; National Loan Fund,
2!, ex div.; Palladium Life, 21 ; Pelican, 38 ;
Phoenix, 161; Professional Life, 1: Provident Life,
30 ; Rock Life, 71 ; Royal Exchange, 227, ex div. ;
Sun Fire, 209: ditto Life, 48 ; United Kingdom, 4 ;
Universal Life, 5, 51.
The General Reversionary Investment shares have
been dealt in at 94; London Reversionary, 42; Re-
versionary Interest Society, 101, ex div.; Australian
Trust, 201, 1; Trust and Loan Company of Upper
Canada, I.

Waterwork stocks are thus quoted :—East London,
149, ex div. ; Grand Junction, 67 ; Kent, 80; Lam-
both, 97; Now River Company, 00: Southwark and
Vauxhall, 97; West Middlesex, 106.
In gas shares there have been only tho usual trail.
sections. British, 10; ditto, Provir.cial, 18; City of
London, 130; Equitable, 271; Great Central, 121;
Imperial, 69 ; Independent, 46 ; Phenix, 26 ; United
General, 161; Westminster Chartered, 401' 1.
There is no movement in canal shares. Last quo-
tations are :—Ashton and Oldham, 136, 140; Coven-
try, 200 ; Grand Junction, 471; ditto, Six per Cent.
Guaranteed, 11;; Grand Surrey, 321; Leeds and
Liverpool, 405; Loughborough, 610; Oxford, 135;
Regent's 171, ex div. ; Stafford and Worcester, 403;
Stourbridge, 290.

10:4131.1111 ITU4DS.—TIIIII OAT.
13•00 Steak. TIT le Low Aopulsies.T 1-10
3 per LI. Iteducol.PTl 1 10016 Pipet, UP 0
3 Per Vt. S 7 Toltto lala*l,oo.C. Tla
Ditto foe ANL PT alCiblVelf Me. LAW. M. OW.
14 MM. Cassuis. i