The Express.
London, England, 1852-01-13 00:00:00

LONDON, TUESDAY EVENING, JANUARY 13, 1852.

BRIGIITON RAILWAY.—THE DIVIDEND.
Tho directors have decided upon recommending
the payment of a dividend tor the half year of 31. per cent.
en the Convolidated Stock of the Company, after carrying
the rum of 10,11001. to the credit of the reserve fund.
'Dar will make the total dividend fur the year 1851 amount
to 41. 16s. per cent.

REVIEW OF THE CORN TRADE DURING
Tam PAST WEEK.
(From the Mark-lase leaprem)

BRITISH.
the belief that the value of wheat was about to ad-
vance became prevalent in the early part of last month,
and merchants and millers deemed it prudent to prepare
themselves for such an occurrence ; all reasonabie offer*
were therefore taken advantage of ; and though the
eleinaed was not at any period of a speculative kind, the
puteleases made during the hest two or three weeks leave
been more extensive than for same time previous. The
effect of this has been a steady improvement in prices iu
all parts of the kingdom, and wheat is now 2s. to 3s.
per quarter higher than it was in the c emmeneement of
December. The upeard movement has no doubt been
assi I by the export demand which has been experi-
enced, a good many cargoes having from time to time
been taken fur shipment to the continent. This latter
eireueustance, and the fact that prices continue higher
abroad than in this country, is regarded as • guarantee
against anything like large supplies from abroad, and a
further rise in our quotations is consequently considered
as not only probable, but strood certain. That prices may
ultimately go somewhat higher than they are at present is,
we think, not unlike/y, bat we are not sanguine of a con-
tinued or important rise; indeed we are rather disposed to
think that the millers, haviag secured sufficient for their
immediate wants, will for a period act lea freely than
they have done or late, and, ea we place uo reliance on a
continued export demand, we should not he surprised to
witness a temporary re-action, more especially if the cha-
recur of the weather should remain us heretofore—vis.,
mild and open. As yet, however, there is no appearance of
a cheek to the advance, and at meet of the provincial mar-
kets held toward. the end of the week wheat was dearer
than it had been before. In the agricultural districts
rates have been paid quite as high as those current in the
priaeipal consuming towns; and at the shipping ports on
the rust coast good qualities of red wheat leave realised 335.
to 30x., amp line 40s. per qr. Purchases made at these
rates would not at present give a profit in Mark-lane, and
we think prudent buyers will be disposed to pause in their
operutions.
The reports from the northern markets are generally
firm; the rise which took place at Mark-lane on Monday
last was readily responded to at Liverpool on the following
day, wheat being quoted 2el. to 11. per laths., and flour
Is. per brl., higher than on that day week. The advance
was, however, paid somewhat unwillingly, and the trans-
'minim were not so extensive as they had been previously.
Later in the week the inquiry slackened, hut the improve-
ment named was well maintained. The Hull market was
only moderately supplied with farmers' wheat on Tuesday,
and Is. per el-. more was easily obtained for the best dry
qualities; a similar advance was also established at Leeds
on that day. The advice, from Waselichl of Friday's date
re-port a fair business in wheat, acid a rise of is. per qr.
From the north-western parts of the kingdom the accounts
are scarcely so lively as from Yorkshire and that neigh-
bourhood. At Bristol, on Thursday, wheat moved off
rather tardily, at au improvement of Is. per qr. ; and this
was also the case at Birmingham. The deliveries at wheat
from the growers leave thus fee been rather liberal, mad in
some parts of the country the less wealthy class of farmers
are reported to have male great inroads on their stocks;
but we are of opinion that thine who have not been com-
pelled to sell by pecutiary pressure have parted with
their produce very reluctantly, owing is the miserably low
rates which have been current ever since harvest; and
we are, therefore, inclined to think that the quantity of
home-grown wheat remaining is quite equal to what is
usually held iu January.
The transactions in foreign wheat have been on quite a
retail stale, few country buyers having attended our mar-
ket; imparters have, however, manifested no anxiety to
realize and part of what has arrived will no doubt be
landed in expectation of higher prices hereafter. Holders
of graneried wheat have also thaplayeel much firmness, and
needy buyers have been compelled to pay the extreme rates
of Monday last. There was more activity in the early part
of the week than on Friday ; but prices were quite as high
as before on the latter occasion. There are now very few
Boating cargoes of wheat off the coast, and for thine on
passage relatively higher rates Lave been asked than those
at which similar qualities might be bought on the spot, in
consequence of which few b irgains have been closed. The
nominal value of red Polish Odessa oar passage is 31v., and
of Egyptian 275. per qr., cost, freight, and Insurance.
The advance established on Monday in the price of
flour has had the effect of somewhat checking the de-
mnied, and the sale has not been extensive since the rise.
The receipts of flour from abroad have been unimportant,
via., 1,723 sacks and 530 biretta. 'ins,. was a speculative
inquiry on Wednesday for American, and several thousand
barrels changed hands at full terms. On Friday there was
I less disposition to buy, but priors were quite as high as
before.

RAILWAYS.

THIS DAY.

Two o'CLoca.
The share market opened this morning with a
heavy appearance, and since the nbsequent decline
in Consols, a considerable fall has mewled in nearly
all descriptions. None but sellers offering god the clut-
racterof the account,the settlement of which is now in
progress, will be considerably changed. The "continu-
ations to the next account generally rule light, no
disposition to speculate for a rise being at present
evinced. On London and North Westerns the rate
is particularly low, these shares being lenders to
continuation. Midlands rule at 3-16 to con-
tinuation, and South Eastern' 1-32 to 3-32 con-
tinuation. Brightens are pretty steady on the an-
nouncement of the dividend.
French shares continue to full rapidly, with a
similar movement at Paris. A favourable opinion of
these shares, under present circumstances, is, how-
ever, still entertained by many parties here, as is
proved by the fact of quotations in this mar.
ket this morning having been fully equal
in many instances to those last received from the
other made.

MI soda) op
to I p.m.

111 a&
841

15
2Ct !el

171
al 6
P 6 $4
77 79
s 1 %Pm

114 I
14
361
le/ 1 I

611 11

7
I,
14 ISI
6 7
143__ 07

Is
:4
1151 1s;

iisl 1161
i 31 on
2
•51 "
74 7 Ms
4 4 „
1 2j
33 34

1151 5

it -if du
37 374
28 30

2 $
33 1$ Si
U4IIII

7. Si
6 $i Ws

lie iii die
34 1 dis
7 1
14 04 dis
14 SI 41a

7 Si 7‘

11tii4 Pip
lit i4l
!:ti 7i41411
13 13
61
11 7i
10

3
iI 13f

201 iii
29; 10j
SI 9j At*

XI i i

31 14 1
13 Ws
1

171 Ist
SI
71 at Ale
11i 111

gi I i
SA
tif I A £

_
though the receipts of barley have been tolerably good-
-3,632 qrs. having arrived coastwise, and 7,710 qrs. from
abroad—still this grain has been bent with much firmness,
and really fine foaling qualities well scarcely be bought
on as easy terms on Friday as in the commencement of the
week. The common descriptions did nut muse off so readily,
but there wes no giving way in prices.
The value of malt has been well maintained, aad choice
parcels have commanded very full terms.
The arrivals of oats coastwise have been moderate; from
our own coast only 697 qrs., and from Scotland 1,631 qrs.
have come to band; but having received 11.913 gra from
Ireland, and 6,728 qrs. from abroad, the total 'tingly has
been rather liberal. On Wednesday the sale was tolerably
active, but facton could not email previous prices. The
increase which subsequently took place in the Irish and
foreign supply caused the dealers uis Friday to act on the
reserve, and some difficulty was experienced on the latter
occasion in obtaining Monday's currency.
The inquiry for beans has been slow throughout the
week, and the value of the article has rather tended down-
wards. We have heard of no sales of Egyptian Beans
afloat.

Peas have excited little attention, and we can notice no
improvement in prices.
Theac ha 4 been seine speculative inquiry for Indian corn
afloat, but owing to the high pretensions of holders, com-
paratively little business has been concluded.

MONEY MARKET.

THIS DAY.

Two o'CLocc.

Every department of the Stock Exclargi, wears a
very gloomy appearance to-day. The English funds
have fallen A per cent., and railway shares and toreiga
stocks likewise presto t adecidedly downward tendency.
In fact encouragement bream to have been afforded to
the " hears" by the more unsatisfactory aspect of
French matters, which is further aggravated by
many extravagantly unfavourable rumours afloat
this morning, and also by the tottering posi-
tion of the ministry, to make a decided
attempt at " banging the market," as it is technically I
termed, or, in other words, to endeavour to change !
the complexion of the various accounts now in pro.
gross of settlement, by making a dead set at prices.
Consols opened at a reduction of 4, hying first
called 96:4 to 1, and were maintained for a short time
by the investment of the government broker, who
bought at the latter fraction. A steady downward move-
ment then set in, and with a succession of sellers offer-
ing prices have fallen to their present quotation of 961
to For the 12th of February the price may be
quoted the same, although for a short time a con-
tinuation of 1-18 was observed. The business prices
include Three per Cent. Consols, 961,1 ; ditto for
account, 961, S. nice per Cent. Reduced, 971,
New Three-and-a-Quarter per Cents., 991,
South Sea Stock, 107,t, 1 ; ditto New An-
nuities, 951. India Stock, 259. Bank Stock,
216. It will be seen that business has not
yet been done at the extreme reduction, according to
the official report issued at 1 o'clock.
Sellers of Exchequer Bills have been offering more
freely, and the quotation has, fallen 25., being now
only 575. to 695. prem. India Bonds mark 725.
prem., but scarcely any business has been done in
them.

The foreign stock market is severely affected by
the state of the English market. Tho transactions
are few, on account of the arrangement of the ac-
count. Mexican is weaker, and so is Spanish,
though no dealings are reported in the latter. In
French Stocks nothing has been dorm to day,
persons being indisposed to operate, there being
some indecision as to the state of affairs in France.
The official report of the transactions is :—Chilian
Bonds Three per Cent., 6.i. Dutch Ronda Four per
Cent. Certifs., 914, 904, 914. Equador Bonds, 3:.
Mexican Bonds, 294,0'7, Portuguese Bonds Four
per Cents., 34. Russian Bonds Four-and-a-Half per
Cent., 100/, cx div. Sardinian Bonds, Five per
Cent., 881, 90, 884.
The progress of the settlement in foreign stocks
and railway shares is watched with a good deal of
interest and some anxiety, as the transactions in cer-
tain of the foreign loans have been extensive, and
with a wide margin of fluctuation. The present
downward movement, however, will probably have
the effect of equalising differences.
The imports of Australian gold continue. The
Mountatuart F:lphinstone has just arrived at Graves-
end from Sydney, with 10,900 ounces of gold, of the
value of about 33,0001. The departure of this vessel
having been advised in the accounts previously to
hand, of course she brings no later dates from the
colony.

The following statement, prepared and condensed
from various official returns, will be found to present
an intelligible view of the note circulation of the
United Kingdom, and of the coin and bullion held by
the banks mill... Med, both positively at the dates of
the accounts last made up, and comparatively with
returns for corresponding periods :
The subjoined table gives the aggregate weekly
average of the note circulation of the United King-
dom, as it stood for the four weeks ending the 6th,l
13th, 20th, and 27th of December, being the latest
date to which the returns have been collectively com-
pleted for all the bunks of issue; and also the results
as compared with the returns for the previous four
weeks ending the 29th of November.

,97
110
191.
- _
,197
i,4393,356:974
%COO 4,72h,7%
• -
1,062 .42,91'-

Bank of Pimland .—.....
Ptivata anal.
Joint stuck banks ......
Total in
800 land
Ireland .

United Kiydum

Showing a decrease of 993,9981. in the note cir-
culation of England and Wales, and a decrease
of 1,349,122/. in the circulation of the United King.
dom when compared with the returns for the previous
four weeks, ending the 29th of November.
On comparing the above returns with the fixed
issues of the several hanks, we find the following to
be the state of the circulation :

The fixed issues of the private banks of England
and Wake being at present, after deducting those
which have ceased to issue, 4,fi9R,075/., it follows
they were below the amount 1,301,2891.
The fixed issues of the joint-stock banks being
3,409,9871., it follows they were below the amount
731,550/.

The fixed issues of the Scotch banks being
3,087,2091., it follows they were above the amount
269,7651., but with specie in hand to cover the ex-
cess, and issues for 640,9301. besides.

The fixed issuesof the Irish banks being 6,3•x1,4911.,
it follows they were below the amount 1,627,7271.,
with specie in hand to cover issues for 1,181,019/.
more.

We find, therefore, that the note circulation of the
private and joint stock banks of England and Wales
was 2,032,839/. below the amount authorised to be
issued; and that, inclusive of Scotland and Ireland,
the circulation was, on balance, 3,390,7711 below the
fixed amount.

The avemgc amount of coin and bullion held by
the Bank of England in both departments during the
four weeks ending the 27th Dec. was 17.043,1701.,
showing an increase on the previous month's return
of 1,263 916/. ,

Kau nil rims Clodag
dos
yorirday. nag.
100,000 1 Agas Fr• 1 14 11 pa
10000. 104. Incl. Cdiforoloa lee.
IS,OO 2o Amanita ... •• . 15 ..
20100 20 Australian
roo,ooo 1 Aso Marta . . 1 par 4-.
no 00 SO di .onarvon kraals
1.00 .. BM roes scrip .
20; sio 93 Iron . .... 11.2
to 000 33 Br.iml. Imp (Pinot U. pia 214 15 11
6,000 30 10. lioe.irs sad nib. all 11 If
11000 10 110. SI. Jolts Lid 147 .. 13 11 12 ad.
12,000 ... 01rhn copper —. 40 41 342
a
'OO .{.3
20;o01 Y. p. Australian Copp 2 1 1 pm.
10,000 SO &mendall 1
211,001 10 II 3ieao&cnunkAnnrkan 5 at 44
pa.
ti
2001 Or) 1 Morn Al iu on its
7,00 30 Saari tga de Cute
6.17 0 10 fin i mot - ....
43,174 n. e l Mexican
100,4810 1 West Slarlomm

LOCAL HIARE MARKETS.

The average stock of specie held by the Irish
hanks during the same period was 1,D41,0191,, being
an increase on the return for the previous four weeks
of 36,054 L _ . .

The average of specie held by the Scotch banks
during the same term was 910,715/.; increase on the
previous month, 35,9091.
In the item of specie these returns consequently
show an aggregate increase of 1,337,8791., on the
month.

As compared with the corresponding period of
Issll, the returns under review show the following
differences in the circulation:

MANCHESTER, JAN. 12.—We have had a declining
market, wall hut a limited amount of busi,ess. Ea.tern
Counties, 6J; East Lancashire Quarter*, Lanca.shiro
and Yurk,hires, 61t, 1 I, ; ditto 201. F. 19-16 di.. ; Man-
cheater, Sheffield, and Lincoln, 381, !; ditto Quarters, No.
1,11 l ; Midland Consuls, .57i; South Eastern, 21 1-16,
20 11-16.

LiverirooL, JAN. 12.—Our share market has been
heavy and depressed to-day. Not much business doing,
and prices all lower. The following arc the transactions:
Amhergate and Eastern Junction, 3}d.—Caledonian, LSI—
East Lancashire (prof. quarter shares), B—Lane ,shire and
Yorkshire, 61A A—Ditto (fifth shares), 7 11-161—London
and North Western, 11:if—Ditto (new quarter shares),
2Ap.—Manehester, Stnifield, and Lincoln, 33A—Midland,
571 A 7—South Eastern and Dover, 2OJ York and
North Midland, 22A.
111tufrot, JAN. 12.—The market was very Bat and with-
out transactions, except in two local descriptions of stork,
viz., Bath Oas sham, which were done at 26 ; and Bristol
Waterworks at In.
LYEIm, JAN. i2.—There is no alteration to report in Om
market this morning. The transactions have been confined
to the followiag lines, of which we give the closing sales:
Great Northern., is}; East and West Yorkshires, ;
beds Northern., 151; York and North Midlands, 23;
North British, 71.
BinuisfutrAts, JAN. 12.—This market continued dull
throughout the day; the chief transactions were in local
stocks. South Stafford' were done at It 16s. 3d. dis.

Iti2.;, Imre*. Decrease.
g g
13,744,976 7' ,421
3,1196,74 101,824
2,678.0111 11.4,733
•
21,460,10 993.991
3,30,974 233,0
4,121i,747 121,659
12,94400 1.30.121