The Express.
London, England, 1852-07-14 00:00:00

MONEY MARKET.

TUESDAY EVENING.
The English stozlt market was higher to-day,
owing in some measure to the renewal of purchases
by the government broker, who invested in Consols
at 1003 and Reduced Threes at 1013. Consols opened
at yesterday's range of 1001 to 3, and after reaching
1001 were called at the close of the market 1003 to 3
ex div. for the 16th. After the regular hours the
price was firm at 1003. The business in this depart-
ment was larger and more varied than usual, the
Three-and-a-Quarter per Cent. stock meeting with
a good many investments, and Bank Stock
rising to ::27 for the account. The offi-
cial report of the day's transactions includes:—
Three per Cent. Consols, for money, 1005, 3,3, 3;
ditto, for account, 1001, 3 ; Three per Cent. Re-
duced, 1013, 1, 1. Three per Cent. Reduced, 1013,
3 ; New Three-and-a-Quarter per Cents., 1043,
1,3, 3,3, 1. Annuities of 30 years, expiring in
1859, 6 13-16, 15-16 ; ditto, 1860, 63. India Stock,
280. Bank Stock, 2263 ditto, for account, 227.
The March Exchequer Bills remain quoted at 765.
to 795. prem. ; ditto June, 695. to 725. mem. India
Bonds were again ls. higher, being done at 91s. to
945. prem.
The foreign stock market is firm, and the ten-
dency of prices is favourable for Brazilian, Sardi-
nian, Spanish, Dutch, and Buenos Ayrean bonds,
and Austrian scrip. Venezuelan Actives have re-
ceded to 43, and Mexican were the reverse of
"brilliant" at 211 to 26 The arrangements for
carrying over to next account attracted some atten-
tion, and tho rates generally ranged front 4 to 7 per
' cent. To-day's business list is as follows :—Austrian
Five per Cent. Scrip, 5, 31 prem. Brazilian Old
Five per Cents., 1014, 102; ditto New Five per
Cents., 1021, 101. Buenos Ayres Six per Cents.,
79, 79. Chilian Six per Cents., 1031; ditto Three
per Cents., 76. Dutch Four per Cent. Certifs.,
971, 3, 1. Mexican New Three per Cents., 29,
1,3, 4. Peruvian Deferred, 671. Portuguese Old
Five per Cents. (Brazil guarantee), 1001; ditto
Converted Four per Cents., 393. Russian Four-
and-a-Half per Cents., 1031, 3,3, ex div. Sar-
dinian Five per Cents., 931, 96, 953, 3. Spanish
Old Three per Cents., 491, 1,3; ditto New De-
ferred Three per Cents., 221, 3,3, ex. div. Vene-
zuela Three-and a-lialf per Cents.. 43.
There have been transactions in Eastern Steam
Navigation shares at 1,4, prem. ; Peninsular and
Oriental, 841, 91, 85; Royal Mail Steam, 81 ; Lon-
don and W estminster Bank, 32; Bank of Aus-
tralasia, 55; Colonial Bank, 151; Union of Austra-
lia, 30; Royal Australian Banking and Gold im-
porting, 5-16 prem.
The subjoined communication has been handed to
us by Messrs. Baring Brothers and Co.:
Messrs. Baring Brothers and Co. have by the Mexican
mail, per Thames, received on account of the 800,000 doh.,
advanced by them for the payment of the last January divi-
dend en thcMezican debt:—From Vera Cruz, 96,000 dots.;
from Tampico, 23,495 de.. 92c.; and advice of a shipment
from San 131 u of 12,000 dole. This makes the remittance
arrived on this account 523,315 dots. 69c. ; and the advices
of shipments not yet arrived, 42,824 dole.
'his being continuation day in the railway
market, the " carrying over" of shares engaged a
great deal of attention. The rates current at one
period of the day may be stated as follows :
London and North Western, 1 to 11, continuation
per cent.
Great Western, 1 to: continuation per cent.
Midland, 1 to 1 continuation per cent.
Lancashire and Yorkshire, 1 to 1 continuation per
cent.

South Western, 1-16 to 3-16 continuation per
share.

South Eastern, 1-16 to k continuation per share.
Caledonians, 1-32 to 3-32 continuation per share.
Considering the great rise that has taken place in
shares, these rates cannot be considered heavy, as it
will readily bo seen that the rate of interest becomes
less onerous in proportion as the stock rises in value.
They must certainly be considered lower than last
account, as about the same rates were given on
the same stocks when they were at much lower
values. The scarcity of French shares was no longer
observable, and the rate at which money could be
borrowed on their security was three to six per cent.
The public will be disappointed at learning that
certain arrangements which have lately been under-
going discussion amongst the members of the Stock
Exchange, relative to a reduction in the broker's com-
mission on some of the smaller shares.have fallen to the
ground. In many cases there can scarcely be said to
be any fixed charge for brokerage, as the recognised
rates for dealing in some of the smaller shares
become so onerous, that they are virtually thrown
into disuse, and the terms become a matter of private
arrangement between the broker and his client, but
in the majority of instances the fixed rate of the
Stock Exchange in share dealings is as follows:
Not exceeding 31., Is. 3d. per share ; from 5/. to 20!.,
2s. 6d. per share; from 201. to 301., 6s. per share ;
above WI, 1 per cent. on value. Latterly there has
been a strong impression amongst many of the most
respectable brokers that some of these charges are too
heavy, and that a relaxation of terms would be at-
tended with a positive and large expansion of deal-
ings in share property. Opinions have of course
varied as to the extent of the concessions to be made,
but we believe it was the general impression that
the charge of Is. 3d. might be judiciously extended
to all shares under 101. in value, and that in the rate
of 2s. Od. might be similarly embraced all shares be-
tween that amount and 25!. For transactions in
shares above 50/. it is considered that the charge of
10s. per 100/. is sufficiently fair, and ought not to be
cavilled at by the public. Accordingly on last
Saturday week a meeting of the brokers was held,
with a view to some arrangement being come to;
but it appears that, after a desu.tory conversation,
DO resolution was adopted, and thus the matter re-
mains in abeyance till such time as the majority of
the brokers may find the representations on the sub-
ject more numerous and pressing. We recently drew
attention to a liberal concession made by the com-
mittee of the Stock Exchange in their only authoris-
ing transactions to be marked in 100/. stock, but
owing to the opposition which the measure has met
with amongst the jobbers, the public have as yet
derived no advantage from it, as though the bargains
are marked in " stock," " shares " only are dealt in,
the charge to the public in the shape of jobbers'
" margin " and brokers' commission remaining the'
same as before. We believe it will be found, how-
ever, that some of the most respectable firms will be
more liberal in their dealings with their clients, even
iu the absence of any change in the terms fixed by
general consent of the house.
The principal quotations in the market for foreign
exchanges to-day were a shade lower than last post.
These fluctuations are of course easily accounted for
by the varying :.upply and demand. Short Paris
was done at 25.30 to 35 ; ditto, three months, 25.471
to 30. Amsterdam ruled at 12.1; Hamburg, at 13.91

Two o'Ctoex.
The English funds are steady to-day, at the closing
range of yesterday's market, with but a moderate
business offering, owing to the attention neousarily
bestowed by the members of the house on the rail-
way and foreign stock settling. Consols have not
varied from their quotation of lON to The Three
per Cents. Reduced mark 101: to 4; the New Three-
and-a-Quarter per Cents., 104,.; to : ; South Sea stuck,
11l }. The untunded securities remain at yesterday's
pikes.
Foreign stocks also stand at late rates, almost the
only variation being in Mexican, which are rather
better, at 2(l to ! fur the new bonds. Spanish
Old Threes mark 491 to ; ditto Passive, 6; Gra-
nada Deferred, 91 ; Austrian Scrip, .51 prem.; Vene-
zuelan Actives, 434; Sardinian, 93; to 96.