The Express.
London, England, 1852-07-22 00:00:00

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MONEY MARKET.

WIDWRIDAT Byname.
The English funds were again fiat to-day, a few
money sales offering, whilst the market was at the
same time unsupported by any operation on account
of government. Console were sold as low as 1001 for
cash, but subsequently rallied, and left off, as offi-
cially quoted, 1001 to for delivery, and 1001 to 4
for the 12th August, or 4 worse than yesterday.
The feeling in the afternoon. however, was sensibly
firmer, and after the of hours prices were called
Ito I per cent. higher. Bank stock has reached the
high. figure of 2291. The day's official busi-
ness list is as follows:—Three per Cent. Consols,
for money, 1001, 4 1,4; ditto for account,
1001, 4,1; Three per Cent. Reduced, 1011,1, 101.
New Three-and-a-Quarter per Cents., 1041, 105, 1041,
106. Long Annuilies,',lB6o, 64, 16-16; ditto 30
years, 1859, 6,1, 11-16; Bank Stock, 2294.
The unfunded securities remain steady. The
March Exchequer Bills are worth 765. to 795. prem.;
ditto June, 695. to 72e. prem. India Bonds mark
925. and 945. prem.
The transactions in foreign stocks were not con-
siderable. Mexican Bonds were better, the price of
the new ions rallying to 2111. Spanish and Grana-
da,. Bonds were flatter. In Peruvian there is
some little fluctuation, consequent upon the
undecided position of the question as to the in-
vestment of the surplus. The Deferred Bonds
have been sold at the reduced figure of
621. The official business report embraces:—
Austrian Five per Cent. Scrip, 51 prem. Brasilian
Old Five per Cents., 102. Chilian Three per
Cents., 73. Danish Five per Cents., 1074. Dutch
Four per Cent. Certifs., 971. Granada Deferred
Bonds, 9, 84 Mexican New Three per Cents., 254,
I. Peruvian Actives, for account, 101; ditto
lieferred Three per Cents., 63, 64, 621, 63. Rus-
sian Five per Cents., 1194. Sardinian Five per
Cents., 951. Spanish Old Three per Cents., for
account 30th July, 494, 1; ditto New Deferred Three
per Cents., 211, 22.
Dijon and Besancon Railway shares, with 21.
paid, have taken their place on the Stock Exchange
official list, and are quoted 1 to 4 prem.
The lest quotation of Canada Six per Cent. Bonds
is 1151; City Navigation Three-and-a-Ralf per Cent.
Benda, 97.
At the half-yearly meeting of the shareholders of
the London and Westminster Bank to-day, the net
profits for the half-year were stated at 42,5411., out
of which was declared a dividend at the rate of 6 per
cent. per annum. The sum of 12,5411. remains to be
added to the surplus fund, which consequently now
amounts to 116,6941. The paid-up capital of this
bank is 1,000,0001., and the shares, on which 201. has
been paid, were last dealt in on the Stock Exchange
at 324.
The intelligence from Mexico, as given in the
United States journals, is stated to come down to
the 19th of June. It appears that President Arista
was on the point of convoking an extraordinary
session of Congress, with a view to again attempting
to procure the passing of the several bills required
for the relief of the finances. This is the coarse
which we anticipated he would adopt, and it is cer-
tainly a more constitutional mode of proceeding than
resorting to a coup d'etat. It is also stated that the
two and a half millions of dollars destined to pay
the English bondholders had left Mexico on the 18th
of June. As some uneasiness has been excited by
the protest of the French minister at Mexico against
the export free of duty of this silver, it may
be as well to mention that Colonel Facto,
the Mexican agent here, has proceeded to Paris to
explain to the French government the facts as they
really stand. The fact is, as every bondholder
knows, that this remittance is in pursuance of a spe-
cial agreement by which the government pays its
creditors a specific sum, they giving up in return a
much larger claim for arrears of dividends, and con-
senting to have their bonds cut down from 5 to 3 per
cent. Letters received by this mail front influential
parties in Mexico confirm the statement made in the
last published communication of the committee, that
arrangements were about to be entered into for the
payment of the July dividend. The measures about
to be proposed by President Arista for the improve-
ment of the financial condition of Mexico were—
first, the lowering of the tariff; secondly, the
admission, at a moderate duty, of articles hitherto
prohibited ; and thirdly, the farming of the customs
revenues. If Congress persists in rejecting these
measures, it is thought that the President, who will
in that ease be positively powerless to carry on the
government with any degree of efficiency, will decide
upon carrying them into effect upon his own autho-
rity, and will call upon foreign governments to aid
him in his attempt. It will not be overlooked that a
reduction in the import duties in the Mexican ports
would have a very beneficial influence upon several
branches of our manufactures, at the same time that
it would tend to a great augmentation of the receipts
from that source of revenue.

With regard to the dispute about the Garay
grant, letters from Washington inform us that the
Mexican government had intimated to that of the
United States that they are quite willing to nego-
tiate for the right of way across the isthmus of Te-
huantepec upon liberal terms. It • is noticed that
the vast enterprise of cutting a passage between
the two omens can never be so satisfactorily ad.
jested as by a binding treaty between the two go-
vernments, es the United States government can
then determine on the best mode of carrying it into
effect by contracts with their own citizens, who will
thus be made immediately responsible to a recognised
authority. It is evident, on the other hand, that if
any individual or company from the United States
should contract with Mexico, disputes and difficulties
would be constantly occurring, involving vexatious
embarrassment and perhaps collision between the two
Republic. It would thus appear that the Mexican
government are pursuing a very wise course in this
matter, and that they feel a deep interest in it is
proved by their despatch of a new minister to Wash-
ington, charged with special instructions. It is
Known, however, that he is also entrusted with the
conduct of other negotiations having for their object
the extinguishment of the obligations assumed by
the United States under the eleventh article of the
treaty of Guadalupe Hidalgo. By this article the
United States government is engaged to prevent the
incursions and depredations of the Indians along the
Mexican frontier, which they find themselves unable
to do, and it seems that this matter will become a
subject of pecuniary arrangement between the two
countries. Correspondence has already passed on
this subject between the two governments, prior to
the despatch of the Mexican minister to Washington.
Subjoined is an extract from one of the New York
journals, which will be regarded with interest as af-
fording an insight into the views entertained on the
other side of the Atlantic relative to the new supplies
of guano lately discovered off the Peruvian coast:—
Tbs recent action of the government, in entering a por-
tion of the Pacific squadron to panted our merchant vessels
engaged in the guano trade, off the coast of Peru, is likely
to prove of considerable value to the commercial and ages-
cultural interests. At present this traffic is confined chiefly
to the Chincha Islands, within the jurisdiction of Peru.
That government exacts a bonus of 12 dots. per ton, and
the transportation and other attending charges enhance the
actual cost to about 27 dots. per ton, landed in the United
States. But u the trade is mainly monopolised by • British
company, in which it is said the chargé d'affaires from Pent
to the United States is largely interested, they regulate
the prices for this country to suit their own caprices
and pockets. Renee it is that the nominal value fine-
, tutu, and that our homers are compelled to pay the
exorbitant prices of 60 dole. awl 00 dole. per ton.
I The sterile Lobos Island., known as Lobos rte Tierra
and Lobos do Muni are nr..ch higher up the coast,
and tieing more than • marine league distant
from the shore, are not under the jurisdiction of Peru.
Heretofore they have been principally resorted to for seal
fishery. They abound in an excellent article of guano,
nearly equal to that found at the Chincha Islands, and are
treaMota to the use of the world, not being under the att-
er regulations of any existing government. The
prow/ion or our navy will give security to these who may
no it to embark in the enterprise, and will reduce the cost
of this important article of agriculture materially. In the
ant place the bonus of 12 dols. per ton to the Peruvian

government will be inmemod, and the traffic being laid pon
to free competition the present monopoly of the Br' h
company at Chinch. must inevitably be destroyed. If the
trade should be properly prosecuted, guano could easily be
delivered in the United Statn, at a fair profit ob-ve the
actual cost of transportation, and at about one third of the
average price which is tom charged to the consumer. The
Administration is entitled to much credit for the service
which has been rendered in this matter, and for the effici-
ency exhibited in responding to the call of the agricultural
portion of the oommunity.
..• •

- The writer, u will readily be perceived by those
conversant with the subject, is in error in more than
one of his statements, the position of the guano con-
tract not being n6l understood. What may be the
precise instructions given to the United States
squadron in those waters does not appear. As yet
the British government seems to stand alone in its re-
cognition of the right of Peru to the Lobos Islands,
and perhaps, in view of the threatened interference
of other powers with the view to throw open the
guano trade, the Peruvian government mar more
clearly perceive the impolicy of damaging tlieir cre-
dit here by attempting any infringement of the rights
of the British creditors, as alluded to by us yester-
day. Letters from Lima mention that the govern-
ment contemplate making " some new arrangements
relative to guano," ant emirate state their nature. It
appears also that they mean to maintain a naval
steam force at the guano islands.
Transactions to a lair extent have taken place in
Bank shares this week, and the general course to
prices continues decidedly upwards. Australasia,
Commercial of London, London and Westminster,
London Joint-Stock, Oriental, Union of Australia.
and Union of London, have all been dealt in at
rising prices. These securities are meeting with
much more favour, and increased importance at-
taches to the transactions. Sales are thus recorded :
—Australasia (401. paid), 55 36, ; British North
American (501. paid), 60, 59;ex div.; Commercial of
London (201. paid), 271 ; London Joint-Stock (10!.
I paid), 181, 3, f, ; London and Westminster (201.
paid), 32, 4 ; Oriental Bank Corporation (25'. paid),
130 ; Provincial of Ireland (251. paid), 47/ cx div.;
Union of Australia (251. paid), 51, 32, 51, 311; ditto
New (21. 108. paid), 0; Letion of London (10/. paid),
171, t. Royal Australian Banking and Gold Im-
porting shares were done to-day at 1 prem. for the
settlement.

Dock stocks remain firm. Commercial stock is
quoted in the official list 901; East and West India,
1 158 cx div.; London, 129 ex div.; Southampton,
281.
Steam-boat shares have met with a moderate num-
ber of dealings, the inquiry being chiefly for Royal
Mail Steam, which have risen 21. per share. The
last prices are :—Australian Royal Mail, 2 ; General
Screw Steam Shipping, 501; General Steam Navi-
gation, 284, 291, 281, 29; Peninsuhr and Oriental,
81, 85, 841; ditto New, 361; Royal Mail Steam, 82,
1, 1. The Australasian Pacific Mail Steam Packet
Company have made application for a charter of
incorporation.
In Insurance shares there is no change, pricks
remaining steady.
Of Canal shares the latest Stock Exchange quo-
tations are subjoined :—Ashton and Oldham, 135,
140; Birmingham, 100, 101; Coventry, 200; Grand
Junction, 491, 50; ditto, Six per Cent. Guaranteed,
114; Grand Surrey, 34 ; Leeds and Liverpool, 450,
455; Loughborough, 510; Oxford, 135: Regent's,
171; Stafford and Worcester, 403; Sturbridge, 290;
Warwick and Birmingham, 40.
Prices of Gas and Coke Companies shares
range u follows :—British Provincial, 19 ; Brighton,
16; City of London, 126; Continental Consoli-
dated, 451 • Equitable, 27; Great Central, 14 ex
div.; Imperial, 41; Independent, 46; London Par-
liamentary Preference, 25 ; Phoenix, 261 ; United
General, 201, ; Westminster Chartered, 38; ditto
New, 74.
Waterworks stocks are thus quoted :—East Lon-
don, 151 cx div.; Grand Junction, 661; Kent, 83;
New River Company, 60; West Middlesex, 1011.
Miacellaneous snares are quoted as follows in the
official list :—Assam Tea Company, 101 ex div.;
Auction Mart, 26; Australian Agricultural, 161;
Australian Trust, 21,1; British American Land, 25
ex div. ; Canada Company, 50; Hudson's Bay Stook,
215 ; llungerford, 47; London Institution, 5 ; Price's
Patent Candle Company, 241; South Australian,
234 g•