The Express.
London, England, 1852-07-13 00:00:00

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The committee of Mexican bondholders have received
advice, from Mr. Falconnet, dated Mexico, June 4. Seconded
by her Majesty's Minister in Mexico, Mr. Doyle, he had
succeeded in obtaining exemption from export duty on the
2,500,000 dollars of American indemnity money, although
it had already been decided in the negative by both Houses
of Congress. The President, however, sent the law back
to Congress, with observations, and the result has been that
the House of ltepresentativs did not insist upon their reso-
lution, and that the executive bus taken upon itself to
authorise the free exportation of this money. It is Mums-
sible to speak too highly of the part which the President
has taken in this affair, notwithstanding the de•ermined
opposition of the French Minister, and many other influ-
ential persons. The money was duly received by Mr. Fat-
market on the 30th May, and will, in part, leave Mexico for
Vera erns by the conducts of the 20th June, for shipment
to Messrs. Baring Brothers and Co., by the July packet, on
an understanding with the Mexican agent, that on the
arrival of such part here the distribution of the whole will
be announced by them. Mr. Falconnet had been unable as
vet to concert with the government any mode of providing
ior the immediate payment of the July dividend, but it con-
tinued, of coarse, to have its best attention. Atter obtain-
ing some securities from Messrs. Manning and Mackintosh,
Mr. Falconnet had, on behalf of the committee, signed a
document granting them a delay of two years to pay their
debts, they paying in the meanwhile 6 per cent interest.
Mr. Falconnet has compromised Mr. Olorte's claim.
The committee observe, with justice, that the
greatest credit is due to President Arista, for the
part he has taken in the matter of obtaining the re-
mission of the export duties on the 2,500,000 dols.,
and no less is due to Mr. Falconnet, who appears to
have worked with great zeal. The value of this
concession to the bondholders is about 40,000!. We
understand that the amount of the indemnity money
in silver that may be expected by the next packet is
about 1,800,000 dots. It is probable that the entire
amount of the 2,300,000 dols: may not reach this
country in coin, as bills will perhaps be resorted to
for the transmission of a portion ; but even
in this case arrangements have been male
by which the entire gain arising from the remission
of the export duties will become available to the
bondholders. So much interest is felt in the present
position of the Mexican dividend question, that the
subjoined extract from s letter from one of the rich-
est, most influential, and hest informed merchants in
Mexico will probably be acceptable. The writer,
from his position, is Intimately acquainted with the
financial position of the country. It will be seen
that his letter fully confirms the remarks on this
subject which we have been enabled to publish on
various occasions of late :

Mexico, June 4, 18.52.
I have delayed answering your letter until now, with the
idea that before the closing of the Congress for last session,
@occulting interesting might occur to be able to communi-
cate to you. The project of farming the revenue of the
Custom-house, which had been submitted to Congress, was
rejected. This measure would have secured to the govern-
ment an increased income ; the payment of the foreign debt
of Mexiso would have been provided on a sure basis ; and
the dividends would have been punctually remitted.
Since the arrival of Mr. Falconnet by the last packet, this
government has been prevailed upon to accede to tho pre-
tension that the 2,500,000 dollars proceeding from the
American Certificate should not pay the current export
duty of 8 per cent., a saving to the bondholders of 200,000
dollars ; and I trust this act of justice on the part of the
executive may be duly appreciated in the proper quarter.
The legislative body has retired for this session without
having decreed either the proposed reduction in the tariff
or the abolition of the existing prohibitions, both which
events must eventually take place ; when once carried into
effect, the income of the Maritime Custom-house will be
considerably increased, and the payment of the future divi-
dends will be made in a much more recular manner than
heretofore. Until this arrangement takes place the pay-
ment of the dividends cannot be counted on with regularity,
except by transactions anticipatory of the receipt of duties,
similar to that made by Baring Brothers for the 160,0001.
which they gave to the Mexican agency in London. The
payment of the July dividend will not be made with punc-
tuality, but I have reason to believe It will be paid in Sep-
tember. Notwithstanding, I should not venture to advise
speculations in Mexican stock for the present, for it fre-
quently happens that what appears to bo moat sure in
countries like Mexico falls on a sudden to the ground.
_ _ _

The Committee of Spanish American Bondholders have
received the following letter from Mr. Lord :
" La (Noyes Juno 9. 1852.
" Confirming all that is stated in my letters of the 10th
and 26th-26th ult., I now beg leave to enclose, for the in-
format'on t f the committee, copy of the note that, under
date of 29th ult., I addressed to the Finance Minister. The
minister's note of 21st ult. to the Fri.visional Agency is
conclusive as to the fate of the agreement ; and shows that
partial and annual payments are to be substituted for it ;
but, as to the current interest, tho minister leaves us com-
pletely in the dark. Upon this and other points of the debt,
I take it for granted Messrs. F. Huth and Co. are not
provided with authority to make proposals, and that the
plan of the government no doubt is, to send over a commis-
sioner to treat with the bondholders for a reduction of in-
terest, &e., so often alluded to in my correspondence.
Meantime, however, my duties, as agent, ate acea..orily
brought to a :lose, and I would respectfully submit to the
committee, that henceforward, to the diplomatic interference
of the British government alone must the bondholders look
for protection and justice. Their claims are admitted by
this government—nothing whatever is disputed—and con-
sequently there is nothing more that an agent can do here
on behalf of the bondholders. I have stated before (vide
my letter of Juno 26 a. p.), and I take the liberty of repeat-
ing to the committee, that the mere good offices' of the
Legation in Caracas, used in support of the agent, will bs

At tho meeting of the Eastern Steam Navigation
Company to-day the report of the directors, of which
an abstract was rgiven by us lin the L'spress of
this evening, was adopted in its integrity. Tho
company has thus started permanently on its bold
course of building and running between England
and India, entirely independent of government aid,
a line of steamers to be constructed on a scale
hitherto unknown in the history of the world. Tho
vessels in question are to be a combination of iron and
wood, principally iron, the objects in view being an
immense increase of steam power, passenger accom-
modation, and general carrying capacity, in conjunc-
tion with a decrease of no less than two-thirds
in that important element of cost, fuel. An
experiment the present attempt can scarcely be de-
signated, guaranteed as it is by the experience of the
that engineering and shipbuilding authorities of the
day, but the result of the company's operations will
be watched with the utmost interest. We are also
glad to sec that the refusal of a government subsidy
in the present instance, instead of breaking up the
project, has been attended with the manifestation
of still more energy on the part of its promoters.
The subjoined calculations show the rate per cent.
per annum yielded by the various English securities
cited at the average of the prices now ruling.
Where the asterisk (*) is prefixed, it is to be under-
stood that the share rate of interest is less the income
tax. It will be seen that in every case we take the
rate of interest declared for the last hilt--year as tho
basis of our calculation : the forthcoming dividends
will, in many cases, exhibit a difference. To render tho
results strictly accurate, the proportion of interest
which may have accrued since last dividend period
should in each case be taken into account. It should
also be remembered that the Thiee-and-a-Quarter per
Cent. becomes a Three per Cent. Stock in 181.
Three per Etat. Towels price 100.1 ylaid per eent..C4 19 /1/
Three per Cent. Reduced
New teraewndae.Quarter per Ceuta lO4l „ 3 2 Pe,
Wank stoek (dm :.4 :he rate cif 6 per
eeni. per annum)
India Stack (die. 11.14 per cent. pee ea ) 283 .4 2 15 0
Eta eerier Lialls.Mareh 0111.140- Pee et
Per 41,11)
East Wise rimers, 301. pald (Rearm-
78s. pin.
lard dir. 5 per ant per annual) 27;
Meet Waders Sleek. (dlr. at the,
rete of 5 war rent per annum) :1021 „
asscsahlre mad Yorkshire £lO5

ntotl•Alv. at the rate of 3 per cent.
per Inn.) 661
London and South Western SNct•
• •

17.1irt;lautl ottiterate of iT per- ceut.
per .mo um).
London and North Wawa Rocks

---- --. -.- -
(di.. at the rate of 8 per pent. per
ann.)
Midland Stotko(di..attbe ruteof 21 per
tent pet ann.) 7B
knelt I..k.tere titoek• (die. at the
rate of 3i per cert. ctn. rannorn.l 73
, York Newcastle, end Elerwiek Stock ' 4.
, _

(the. at the raw of 3 per cent. per
annum)

2 3 101
2 12 11

4 17 6

3 9 4

THIS DAY.

3 8 II

1 9 6
3 10 G
4 13 4

3 17 11
90

Two o'Ctocx.
The home funds opened at yesterday's rates, but
the government broker has renewed his purchases,
and a rise of 1 per cent. has taken place. Consols
arc now quoted 1001 to ex div. for the 16th ; the
Three per Cents. Reduced have improved from
101 L :to ; the Three-and-a-Quarter per Cents., from
1041 to ; and Bank Stock to 226 to 227. Exche-
quer Bills show no change, but India Bonds have
reached 91a. prem.
In the foreign market Venezuelan Actives have
receded to 43, but Buenos Ayrian Bonds are better
at 78 to 79; Sardinian, at 9.i to 90; and A,istrian
Scrip at 5 prem. Mexican New Bonds mark 26 to
to 261; Spanish Old Threes, 49,1 to ; ditto New
Deferred, 221, to 1 ; Dutch Fours, 971 to 2.