The Express.
London, England, 1852-05-25 00:00:00

MONEY MARKET.

MONDAY EVINCING.
The home funds were firmer to-day, although busi-
nese was by no means active. Consols ruled steady
throughout the day at Saturday's closing rate of 991
to Z, both for money and the 9th June; and the
other government stocks likewise maintained the
range previme-ly current. Bank stock remains firm.
The official business report is as follows:—Three per
Cent. Consols, 99:, ; ditto for account, 99Z. Three
per Cent. Reduced, 99Z, 99. New Three-and-a-
Quarter per Cents., 101#, 101. Long Annuities
1860, 6 13-16, Z. Bank Stock, 220, 221.
The floating debt continues very firm. The
March Exchequer bills maintain Saturday's improved
prioe of its. to 735. prem. The Juno bills improved
to 66e. to 695. prem.; and India Bonds were
also higher, at 795. to 82s. prem.
In the foreign stock market the chief change in
prices was in Venezuelan, which fell to 36, but closed
better again, last marking 381. Generally the mar-
ket for Ecuador, Venezuelan, Grenadian, and Peru-
vian stocks is weaker, owing to the apprehensions of
serious disturbances in that part of South America
consequent upon the expedition of General Flores,
which appears likely to involve several of these
states. Mexican Bonds were firm, and Spanish

111,`" %eller silppotiejs. tees ero -recorded is
follows : Buenos Ayres Six per Cents., 75, 74.
Dutch Two-and-a-Half per Cents., 611. Ecuador
Bonds, 4, 1. Granada Deferred, 8/. Mexican New
Three per Cents., 241, 23, 241. Peruvian
Deferred Three per Cents., 62, 601. Portuguese
Five per Cents. Converted, 1841, 371 ; ditto, Four
per Cents., 36}, 37. Sardinian Five per Cents.,
96 1. Spanish Old Three per Cents., 47, 461 ;
ditto, New Deferred Three per Cents., 201, 1.
Venezuelan Three-and-a-Half per Cents., 40, 38, 381;
ditto, I)eferred, 151.
The following communication relative to the Vene-
zuelan debt ham been handed to us by the committee
of Spanish American bondholders :

VENEZVELAN DEBT.
Committee of Spanish American Bondholders,
8, Broad-street-buildings, May 24, 1862.
The following is an extract of Mr. Lord's letter, received
by the Committee of Spanish American bondholders, dated
La Guava, April 26, 1862."
" Annexed I wait upon you with duplicate of my letter
of the 10th inst. All that is therein stated, as regards re-
mittances and the agreement, I have now to confirm.
Touching the former, I addressed the minister on the 20th,
embodying a protest—a copy of my note Is enclosed, to
which I beg leave to refer the committee—and as respects
the latter, after waiting until the 20th and finding that the
discussion oat the agreement had not been resumed, appre-
hensive also that tt might be the plan to leave the matter
tunleeided for another year, I mewed and bad presented
the same day (20th) a representation to Congress, of which
I likewise enclose a copy for the information of the com-
mittee. In whatever way, therefore, it may please Con-
gress to deal with the agreement, I hope it will be found
that I have adopted the right course for protecting the in-
terest of the bondholders, and that the same may be said u
respects remittances. The minister re-asserts that 20,0001.
has been remitted on account of dividends. The sessions of
Congress were prorogued on the 23rd for the full constitu-
tional term of 30 days, in order to conclude the laws on the
budget and on the permanent forces, and any ether mea-
sures that the Chambers may deem convenient. My re-
presentation was not read on the 20th; but on the Secre-
tag of the Chamber giving the usual notice of it, it was
ordered to be added to the other document, to be read when
the debate on the agreement shall be resumed."
To the above extract the committee have only to add that
they have received no advice of any remittances.
Copies of Mr. Lord's two protests have also been
forwarded to us, but they are too long for insertion,
and can, of course, be seen by those interested at the
committee's offices.

The following announcement, relative to the now
Austrian ken of three millions and a half sterling,
was to-day issued by Messrs. N. M. Rothschild and
Sons :

FIER PIE CENT. AUSTRIAN LOAN 701 £3,300,000
STISRLINCI.—IIia Majesty the Esping of Austria
rhopo
sanctioned by decree on the Ist of this month the po
of his Excellency the Austrian Minister of Finance, Che-
valier do Baumgartner, for the negotiation of a loan of
3,500,000/., bearing interest at 6 per cent. per annum
Messrs. N. M. Rothschild and Sons begs to announce the;
they are authorised by Mr. Brentano, Aulic Councillor in
his Imperial Majesty's service, for the negotiation of the
said loan, to receive subscriptions for 2,250,0001. thereof in
London, the remaining 1,260,0001. being reserved for sub-
golpßon at Frankfort-on-the-Maine. The subscription
gaho Is 90!. for every 1001. stock, payable as follows :-101.
Want. on allotment; 151. per mat on Ist July; 161. per
tit an Ist September ; 151. per oont. on 10th November;
percent. on 10th January, 1869; PP. per cent. on 10th
dal Interest will be allowed in the Ist July nom on
Oho bat instalment of 10 per cent. anboaribed. The Interest
as the bonds will monsames from lot July next, mil will
In payable in pounds sliding holtionsly on tho lst of
bmaary and the Ist of July at the mating-ham of
Mesas. N. M. Rothschild ani hone, la LIMO" se at tie
option of the holders in Paris at the mime ef lIIL Ns.
pier panedpsnenal snelleg, cot at Frankfort at the_ timee of la
iding. To subscrib who ee lip
mei tall la anticipation of the ers
w above teams. a dissonat
14 Mr rue of 3 per mat per enema win bo sisal. hi fa
b monstial that the times of ppaaymoa t obeall bo pasabstilly
abserved, should any at the iasalmeeae net be paid on the
day appointed, VWlunyNekkg dolholt hall forfeit the
instalments paid, sad alma set be at i able
:tar lay
ti* Thera:lt dildresP: or any substorn
want dm an the lit January, 18113, win be dedectssariam
tbolestaissont payable as that day. The bomb adi be its
NIL sash, 111111111 MINI Noso. Ito $1,000; those hennahe
London will bear rho I to 22,500. They
divided into half-beads of 601. each. The reimbuhert
• Ole loan will take place by moans of a staking aridgill
Na
ct. per annum, to be applied ps tin pignannil era
pir the proportionate part of the to as bum
Mt t the bet drawing will take pima es Mei be j
and Oat payment of the mid bum bomb on
gimmemig, mad so an emit ownesdlen half-yora. The
government reserves to stmt Ma faculty of he.
Me sinking fund to 6 pm mei pm annum atom
will be roosted 84 Noma N. IL
renabild an 1/~4111166, awl each am
:V o gad liMarda Mot., who
dIM be demi. y tito Ma
Thisienesenement shows that after feeling the
pelmet Sr twridow and other continental markets,
Ambiansovarnment have called in the London
firm of the Rothechilds to render its sesistance in
two-thirds of this loan satisfactorily upon the
market, at present so oppreseed by the burden
lllNlMlggoyed capital There are several points in
he prospectus that savour vitally of haste in the
aswoction of this financial project, and indecision as
la the maw by which the favour of speculators
'bait enlisted ; and this view is confirmed
WI be
alliMpancy which exists on several important
pita latewa the present announcement and the
olhial prospectus of the loan, as published at Frank-
fort (and in the Express of Saturday.) Thus the
sinking fund, which was previously fixed at 2 per
cent, per annum, is now reduced to 1 per
cent.; and instead of the delay of several
before the commencement of the re.
dean Ption, the fund will conic into operation ea
the lit January next, or five years sooner than origi-
nally fixed. The faculty which the government
affects to claim for itself of increasing the sinking
fund to 5 per cent. per annum, after 1862, will not
be regarded as a point of the slightest imperianse
as it pre-supposes an improvement in Amid=
finance, such as the most sanguine supporters dlie
peeing system of government will never nerisipellm
The most important point, however, in *wawa aw•
IMlNtoement, and one upon which an appemonse
ZtlYhas been rather studiously preaarvoi, h the
which subscriptions will be received. The
=impression hero was in favour of the pries Led at 80 to 86, in which case it was thought
le the loan might possibly be subscribed for
le
presented to speculators wool
as
ald
gem attractive, and consequently the adopdon
of the high price of 90 will have the effect of cooling
the ardour of those who were preparing for a tem-
investment in the loan, in anticipation of pro-
by the position of the exchange market. A
eempanson of the prim demanded here with the cur-
rent quotations of the Austrian funds at Vienna will
perhaps show this more plainly. At Vienna the last
prom of the five per cent. loan, re-imbursable in
silver, is 109; and taking the exchange at 12.30,
being the most favourable rate current there prior to
the announcement of the loan, a deduction of about

22 per cent. is rendered necessary, making the price
87. It thus follows that the price at which the new
leas is to be negotiated is 3 per cent. splint the