The Express.
London, England, 1852-12-04 00:00:00

MONEY MARKET.

Puast Itrawieo.
The English stock market was depressed to-day.
Budget rumours were very plentiful, and all of a
character calculated to depress prices, so that buyers
are naturally induced to suspend operations till the
financial scheme of the Chancellor of the Exchequer
shall have been definitively announced. It may be
noticed that a project for the reduction of the interest
on the 3 per cent. debt of the empire, openly recom-
mended by the ministerial organs, would, under
some circumstances,—unless, for instance, proposed
by a government strongly established, and pour-
ing the confidence of the nation,—be received with
considerable distrust by fundholders, and would thus
give occasion to a decline in prices, although, if
opportunely proposed, and well carried out, tending
so greatly to the promotion of the prosperity of the
country by alleviating the present enormous burden
of taxation. Consols ruled throughout the day at
1001 to 101 for money and the 9th December, and so
officially closed ; but after the regular business hours
the impression became stronger that no hasty inter-
ference with the fiscal resources of the country will
be attempted, and the price rallied to 101 to 1. The
purchase of the government broker was effected about
noon in the Reduced Threes, raising the price from
100 to 1004. The business list is as follows
Three per Cent. Consols. for money, 1001, 101,
1004 ; ditto, for account, 101, 1004, 101. Three
per Cent. Reduced, 1001, 100, 4. Three-and-a-
Quarter per Cents., 1031, 1, 3. Long Annuities,
1860, 6 7-16. Bank Stock, 2231, 222.
Exchequer Bills, remain quoted 695. to its. prem.
March and June, and India Bonds 80s. to 83s. prem.
Prices of the foreign securities are fairly sup.
ported, with only a hitting variation. Peruvian
Deferred Bonds are looking up, and Brazilian, Dutch,
and Grenadian are very firm. Sardinian Fives are
quoted with the dividend off. Sales are thus
marked :—Brazilian New Four-and-a-Half per Cents.,
1832, 971, 98. Danish Three per Cents., 841, 1;
ditto Five per Cents., 1061, 3. Granada One-
and-a-Half per Cents., ex Dec., 1849 coupon, 221, 1,
; ditto Deferred, 13, 1, 121, 131. Mexican Three
per Cents., 23, 241; ditto for account, 16th Dec.,
23. Peruvian Six per Cents., 1044 ; ditto Deferred
Three per Cents., 654, 65, 1. Portuguese Con-
verted Four per Cents., 381,1. Russian Four-and-
a-Half per Cents., 104/. Sardinian Five per Cents.,
974, 97 ex div. Spanish New Deferred Three per
Cents., 241, ; ditto for account, 241,1. Swedish
Mortgage Loan, 11 dis. Turkish Six per Cent. Loan,
11 prem. Venezuela Three-and-a-Half per Cents., 401.
A large business continues to be done in bank,
land, steam, and miscellaneous shares. Our list of
transactions to-day in.cludes:—Bank of Australasia
at 715 and 71; Colonial Bank, 151; English, Scot-
tish, and Australian Bank, 5,5, 45; London Char-
tered Bank of Australia, 41, 41; Union Bank of
Australia, 62, 1; Southampton Docks, 40 ; Austra-
lian Agricultural, 90, 91, 85, showing a re-action;
Crystal Palace of France (21. paid), 21; Electric
Telegraph of Ireland, 11 ; General Screw Steam
Shipping, 56, 1,55, ex new; Netherlands Land In-
closure, 21; Peninsular and Oriental Steam, (201.
paid), 52; Royal Mail Steam, 79; South Australian
Land, 411, 401, 41. Shares of the Beziers and
Graiseessee Railway closed 1 toll prem.; Bordeaux
and Cette (which are now officially marked under
the title of the Southern Railway of France), 43 to
51 prem. ; Antwerp and Rotterdam Railway
to prem. ; Western Railway of Switzerland,
Wo 1 prem.; South Eastern of France, 1 to 1 prem.;
imbledon and Croydon, 2 to 21 prem.; bluish
Zealand Railway, 11 to 2 prem.; Lake Constance
and Basle Railway, 1 dia. to; prem.; Lucca and
Pistoje, 1 dis. to 1 prem.; Great Western and City
Junction Railway, 1 to 1 prem.; Tynemouth Docks
and Railway, Ito 1 prem.; Bank of Asia, to
prem.; Bank of India, Australia, and China, to 11 prem.; Royal Swedish Railway, to 1 prem. It
was stated at the meeting of this Company, held at
Gottenburg on the 22nd and 24th ult., that the charter
had been duly obtained. Pursuant to the original
recommendation, 4 per cent. per annum of the gua-
rantee granted by the Swedish government is to be
appropriated to dividend, whilst the remaining
1 per cent. will form a sinking fund. We see that
such of the shareholders as may be paid off
will have certificates with dividend coupons given to
them, by which they will still be entitled to their
due proportion of the yearly profits of the company
that may exceed S per cent. per annum upon the
capital, this privilege extending till the eud of the
40 years fixed by the charter. This arrangement is
' in accordance with the dictates of justice.
onday next has been appointed settling day for
shares of the Western Railway of Switzer-
; the Submarine Telegraph Company ; and
Australian Pacific Steam Packet Company.
prices of all these shares are to be officially
marked. It is thus inferred that these new associa-
tions have duly complied with the new regulations of
the Stock Exchange, as regards having at least two-
thirds of their capital paid up (or the first deposit
paid), as well as other points.
The Duke of Wellington has arrived from Sydney
with dates to the 20th August, and 21,363 ounces of
gold, worth about 85,4001.
The bill brought before the Dutch Chambers pro-
poses to reduce the Four per Cents, into a Three-and-
Three-Quarter per Cent. Stock, not into a Three-
and-a-Half per Cent., as reported by telegraph yes-
terday. The new stock, however, is to be issued
not below 98 per cent." A guarantee is given that
so new conversion shall take place till the 31st Dec.,
1856. The total Four per Cent debt of Holland
amounts to 252,000,000 florins (21,000,0001); on
which the yearly charge is 10,086,320 florins
(840,5001.); so that the saving by the reduction is
estimated at 630,000 florins, or 62,5001, sterling.
This measure appears to be well received.
The Belgian official paper publishes the decree for
the conversion of the Dire per Cents. into Four-and-
s-Half per Cents., the bill having received the royal
assist. The Five per Cent. Lean of 1840, amounts
Nos 1116,940,0001 i. ; of 1842, to 28,621,718 fr. ; and of
1848, to 37,513,940 fr., making a total of
163,075,6.581 r., or about 6,123,0001. sterling. The
present yearly interest on this should be 306,0004
and the interest at the reduced rate of four-and-a-
half per cent., 275,500/., showing an annual saving
of rather more than 30,0001. The present rate of
interest will be continued till the Ist May, 1853.
The second instalment of 11. per share on the scrip
sertificates of Preference Shares in the Cork and
iatlon Itailwayrompany falls due on Saturday next.
The business in foreign bills of exchange to-day
was but limited. The chief feature was a decline of
full /of a Schilling in the rate on Hamburg as com-
pared with the price current last post day. The
transactions ruled at 13.6 to 65, with but few bills
offering. Frankfort was in demand at 1191. Bills
on Vienna sad 'Trieste also met with more inquiry,
and were done lower. Paper on Paris presented no
alteration, but the demand for three months' bills
continues. On Amsterdam, and Italian and Spanish
places, rates were scarcely altered. For Lisbon and
Oporto there was less demand. The quotation on
New York at 60 days' sight ranged at 48 to 5,
St. Petersburg was flat at 374 to 38.
The telegraphic despatch from Vienna of yesterday
reports an improvement in the money market. The
new loan was quoted 95, or par; the exchange on

the
The

departments
Seven day and ether bills 1,401,912 Increase 12,278
The Rest
The Reserve
- .

There is nothing very striking in this return,
which in its main features, like the previous balance-
sheets of the institution, is highly satisfactory.

- THIS DAY.—Two O'CLOCK.
So far as the stock markets are concerned the ef-
fect of the Budget is favourable, satisfaction being
expressed by landholders at the absence of any espe-
cial burden on this species of property, as well as
of any interference with the public debt. Con-
sols opened 101}, and have since risen to 1011
to 1 for money and the 9th, and lett to !, for lan.
The Three per Cents. Reduced mark 100``-; the
Three-and-a-Quarter per Cents., 10:32 to I ; India
Stock, 277; Bank Stock, 222; South Sea Stock 111 Z.
The floating debt is very quiet.
There is scarcely the slightest change in the fo-
reign stocks. Peruvian bonds are firm, and Spanish
rather flat. Peruvian Deferred mark 63 to :; ; Spanish
Old Threes, 51'4 to ; Swedish Loan 14 to 11 dis. ;
Turkish Loan, 11 to 1.1 prem.; Granada Deferred,
121 to 131; Dutch Fours, 981.