The Express.
London, England, 1852-07-31 00:00:00

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etwomat was brew& estio- starlii to ; conclusion,
szeiteilkthOMlsfikm &Avtaro thisaluarked !w-
-ay : Austrian Fit. per Cent Scrip,4l prem. Belgian
Four-and-a-Half per Cents., 96. Brazilian Old Five
per Cents., 1013. Dutch Two-and-a-Half per Cents.,
641,;; ditto Four per Cent. Certifs., 98, 97/, 98.
French Four-and a-Half per Cent. ltentes, 103 f. 60e. I
(exchange, 2M. 33c.) Mexican New Three per
Cents., 231, 3. Peruvian Actives, 1011; ditto De-
ferred; Three per Cents., 60/'
' I
61). Russian Four-
and-a-Half per Cents., 1041 3, I. Sardinian Five
per Cents., 943, 94. Spanish Old Three per Cents.,
49, 1; ditto New Def. Three per Cents. for account,
17th August, 224, 1, 22. Venezuelan Three-and-a-
Half per Cents., 41/.
The miscellaneous transactions have been few,
comprising General Steam Navigation at 29; l'enin-
ruler and Oriental, 863, 86, 3; Royal Mail Steam,
80; Madras Railway, 23 to 23 Fun; Ebro Canal,
1-16 to 3-16 prem.
We understand that the dividend on Great
Western stock fur the half-year will be at the rate of
4 per cent. per annum only, a large reserve being car-
ried over to next account.

Amongst the exports of specie to Australia is ano-
ther sum of 13,0001. for Adelaide by the Steadfast,
which has just sailed from Gravesend.
This was " pay day" in the railway market, and
the " differences" of the account appear to have been
promptly met. In some instances very heavy rates
of continuation were paid yesterday, g being given
on Great Westerns, . on London and North Western,
on Lancashire and Yorkshire, and 1 on Mielatid.
At one time there was actually 1 per cent. difference
in Lancashire and Yorkshire and Great Western
stock, although the contangoa can scarcely be said to
have been nominally higher than those above quoted.
In fact, the jobbers have in many instances almost
refused to take in shares, and by compelling sales for
money, brought about the species of panic noticed at
the commencement of business yesterday. The rea-
sons for this state of things are briefly these: first., a
large " bull " account ; secondly, the difficulty always
experienced in carrying over stock when • rise has
been interrupted by a fall; whilst the third reason
consists in the important fact, which is decidedly'!
favourable to enhanced values, that the capitalists
are no longer " takers in" of stock at a
high rate of interest, but " buyers." In the
present state of affairs, they appear to consider
the chance of getting 3 per cent. per week, better
than an interest of 0 per cent. per annum. Conse-
quently the jobbers have not the capitalists to fall
back upon, and when they have " taken in" as much
stock as they ate able, they must stop. Another
reason of the late downward reaction in prices is
the revival of operations by the " bears" on a large
scale. In one instance, within our knowledge, an
individual has "sold a bear" of 1,000 Great
Western shares for next time, and other large
transactions in a similar sense have been entered
into. The extraordinary and steady rise in French
shares, is one of the most remarkable features
of the market, the movement for months
past having been equally strong here and at
Paris. Of the new lines, Grand Junction of
France shares have risen to 14 prem. • Paris and
Lyons to 101 prem.; Paris, Caen, and Cherbourg to
2; prem.; and Dijon and Besancon to 1 prem.
The market for foreign exchanges to-day exhibited
an upward tendency, and nearly all quotations were
higher than last post, owing chiefly to s preponder-
ance of sellers over purchasers of bills. Short Paris
was a shade higher, at the quotation of 25.25 to 30;
do. three months marked 25.474 to 621. Amsterdam
rose to 12.04 toll. Hamburg was at first in demand at
13.8, but purchasers being soon full, the rate advanced
to 13.84 to 4, and a few small amounts were pressed
at a higher rate; however, the bona to price at the
close was 13.81 bills, without takers. Frankfort
ruled at 121 to 1„ a large amount, for which 121 was
asked, remaining unsold. Paper on Italy, Sicily,
Spain, and Portugal, did nut vary sensibly, but was
generally done in favour of buyers. Bills on Austria,
however, declined a little, in consequence of lower
rates from Vienna. The quotation for that place is
12.2 to 8, and for Trieste, 12.4 to 10. The prices
negotiated are as follows :

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glievetasbe.ma d Allow* „ „ ii.... 8 44141. 2314 m..
la SIO „ 1214.011 r. ... 12111 IL
pat „ 121. Ur. ... 129. Car.
128. 4kr. ... 1211. 101rr.
„ „ S.W. 811 F ... 25*. 570.
'Pt Ili
2*. 52 ... 25(r. 570.
25tr. 52 8. ... 1130-. Via.
: Mart 25tr. La ... 234.10 a
„ 3 Illoalibilitt. 47e. ... 2*. 324..
„ „ Utr. 30.. .. 2Sfr. 55e.
" II:. 50e. ... 25tr. LS,.
NI
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“ . M Ile OS• .. SW. 4.24.
011,
. bk. ... 25fr. 55...
r• •• • 4416 ... 2212.005.
M. 84..... ask. ..
r= per dims : 41 mos ... 41 gmen"i
Prz ones " 124 pose ... 111 pes„,
111491155 .
Maid pa 401111,, 49 MN ... 415 peace
raft 4 mos ... 4,. per
Wlliir •• •• WM .. 494 sifts
MY ... 444 tom
=WC.
„ „ 4 pus ... 44 passe
New
U. 181..." Pee galrei .„. 83 pus .. 63b pm.
0303,80 „ „ U Nan moss
St. P•Yrstraire par Mae " WI sem ... 871 pew

- -
There is no change in the bullion market, which is
quite bare of supplies and consequently inactive.
At present the market for dyer is good, but the
effect of the large supplies by the Mexican packet,
due on the Ist and which will probably include the
2,500,000 dole. of the American indemnity money),
remains to be seen. In all probability these supplies
will go to the continent.
The exchange at Paris on London has rallied a
trifle, coming today reported 25.30 for short. Quo-
tations of bullion in that market remain unchanged.
The price of gold yesterday at Paris was about 4
per milk prom. (new tariff rate), which, at the Eng-
lish mint price of 31. 17s. 101 d. per ox. for standard
gold, gives an exchange of 26.27 ; and the ex-
change at Paris on London at short being 26.30, it
follows that gold is about 0.119 per cent. dearer in
London than in Paris.
According to the last accounts, the course of ex-
change at New York on London for bills of 60 days'
sight is 1101 per cent , and the par of exchange be-
tween England and America being 109.23-40 per
cent, it follows that the exchange is nominally
0.92 per cent. in favour of England. After making
allowance for difference of interest and charges of
transport, we find that the present rate leaves a small
profit on the importation of gold from the United
littates. Shipments of silver will probably also come
forward.

It appears from despatches garaged to his

departments - 22,06.3,349 Increase 76,671
Seven day and ether bills 1,386,878 Increase 30,863
The Rest
The Reserve
This return exhibits the changes usually noticed
at the termination of the dividend payments. The
amount to credit of the Treasury is uow reduced to
its lowest point, and in future returns will continue
steadily ascending, till the termination of the gnar-
-1 ter. The increase in the bullion is as we stated it
would be a couple of days ago, and shows that the
influx of the precious metals is sufficiently decided
I to counteract the tendency to a diminution otherwise
to be expected at this period of the quarter. The
increase in the deposits standing to credit of indi-
viduals and public companies is unusually large, and
attests the difficulty that exists in employing
capital in remunerative channels._
1 According to the official returns published in the
Gazette of last Tuesday, the total note circulation of
ail the private banks of England and Wales, during
the week ending the 17th of July, was 3,501,355/4 in
the week preceding the amount was 3,510,461/.
There is consequently a decrease of 0,1061.
The note circulation of the joint stock banks during
the same weekl was 2,836,5201.; and the previous
week's return being 2,839,4291., the increase is shown
to be 17,0911.
On taking into consideration the active circulation
of the Rank of England, which in the week in ques-
tion was 23,747,7351. (being 367,980/. more than the
week preceding), we find the aggregate note circula-
tion of England and Wales to be 30,108,6101., which
shows an increase of 378,9651.,as compared with the
returns for the previous week ending the 10th of
July, and an increase of 3,343,4021. compared with'
those for the corresponding week of last year.
As regards the fixed issues, the private banks were
1,193,7201., and the joint-stock banks 553,4071. below
the amount authorised to be issued, making a total
of 1,747,1871. below the fixed amount.

THIS DAY.
Two o'CLocz.
Although business, as usual on a Saturday, has
been by no means extensive, the English stock
market is sensibly better to-day. Consols are quoted
at the improved value of 100,1 to d both for money
and the 12th August The Three per Cents. Reduced
mark 1001 to 101; the New Three-and-a-Quarter
per Cents., 1041 to IN ; India Stock, 287; Bank
Stock, 233 to 2344. The Jane Exchequer Bills have
improved to 71s. to 745. prem.
Foreign stocks are firm, and Mexican, Peruvian,
and Granadan are looking up. Mexican New Threes
are quoted 25i to 284; Peruvian Actives mark 102 ;
Granada Actives, 214 to 221; ditto Deferred, 91;
Spanish New Deferred Threes, 22; Russian Fives,
121 to 4; Brazilian Old Bonds are firm at 102, the
price being unaffected by the issue of a new loan of
1,000,000 L, as this is to pay off the Old Five per
Cent. debt, guaranteed by Brazil.