The Express.
London, England, 1852-08-14 00:00:00

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FRIDAY EVENING.
The English stock market to-day was character-
sed by a decided reaction. Confidence was stimu-
lated early in the day by the announcement in the
Daily Yews of the satisfactory position of the fishery
dispute and the favourable change in the weather;
and from 961, at which Consols were first done for
cub, the price went steadily up to 991. The
closing price was 99/ to 1 fur money, and
NI for the account of the 14th of Sep-
tember, the continuation to which was to-day less
than one-eighth. On the whole, the aspect of the
market at the close was steady, but there can be no
doubt that the recent remarkable fall in prices, ag-
gravated as it has been by the state of ac-
counts amongst the speculators, has had the
effect of giving a great check to confidence, and thus
we shall probably find that the upward course of the,
market, should the circumstances of the country eon-
tinue so prosperous as to warrant a rise, will be very'
gradual, ers holders who refused to realise when Con-
sols were eonsiderably above par, may be expected
to be lest featfdlonswhen the opportunity is again
presented to them. At present the weather has
more effect upon the stock markets than any other
consideration, the accounts relative to the crops
being watched with much solicitude, but it may be
observed that the forcible closure of the " bull"
speculation in Consuls and other stocks, will pro-
bably impart much more real strength to the
market. Considerable /ions Ale investments
have also been made in the government funds,
at the reduced rates, and these will act in the same
sense. As regards the difficulty with the United
States, as already intimated by us, it may be con-
sidered as arranged, bo further disagreement between
the two countries being in the slightest degree pro-
bable. The fact is that our Tory government, after
rashly provoking the anger of the powerful republic
over the water, find they have gone too far, and per-
ceive the necessity of a withdrawal, however humi-
liating such a course may be.
The official report of business in the English funds
is as follows :—Three per Cent. Consols, fur money,
94, 99!, s ; ditto, for account, 99, ?, 1. Three
per Cent. 'Seduced, 993, 1,3, 3, 100 ; New Three-
and-a-Quarter per Cents., 1022, 3,1, y, 3, 103, 21,
S. Long Annuities, 1860, 6 15-16. Bank Stock,
233. Indic Stock, 280, 277.
The unfunded secunties remain with little alters-
the. Exchequer Bills of the March issue mark 745.
to 775. prem. ; ditto June, 695. prem. India Bonds,
• 88s, 995. prem.
Foreign stocks were generally firmer, but there
was little change in prices, as the operations in this
department remain restricted. In Mexican Bonds,
however, there was a rather sensible upward move-
'bent, the price reaching 251, and cloning firm.
Venezuelan Deferred mark 16. Wo understand
that very spirited representations have been made
Illy the Spanish American committee to Lord
almesbury on the subject of the glaring breach of
kith committed by tho Venezuelan government.
Buena ran Bonds closed heavily at 74. The
newspaper and private accounts received by the
Severn do not afford so favourable a picture of the
state of the republic as had been anticipated from
the tenor of the telegraphic despatch received from
Southampton yesterday afternoon, but it is hoped
that so soon es the representatives of the Argentine
Confederation shall have met, pursuant to the sum-
mons of General Urquiza, measures will be adopted
Ire placing the administration on a firm basis, when
of course the claims of the bondholders for the long
deferred settlement of the debt will be pressed with
more advantage. At present the bondholders hays
received no intimation relative to the program of the
negotiations understood to be going on, as nothing
has been published either by the committee or the
Meters. Daringly, although ads ices have certainly
come to hand. It may be of interest for the bond-
holders to learn that the usual monthly remittance
of 5,000 dollars, as commenced by Dictator Roses,
has duly arrived by this packet. Meanwhile, nothing
is heard of the meeting adjourned two months ago,
and the entire affair of the debt appears to remain in
the same quiescent state as for some time past. The fact
is, that the bondholders' interests are being quietly
shelved; and until a special commissioner is sent out
by them, no good result can be expected. To-
day's sales in this department are as follows :
Belgian Four-and-a-Half per Cents., 951. Brazilian
Five per Cents. (Rothschild's), 102; ditto Five per
Cents., 1829 and '39, 1021,1011. Buenos Ayres Six
per Ceuta., 75, 74. Chilian Six per Cents., 1063,
1033. Dutch Two-and-a-Half per Cents., 631 ;
ditto Four per Cent. Certifs., 98, 1. Ecuador Bonds,
4Z. Granada Deferred, 81. Mexican New Three
per Cecte., 253, 25, 1, 1. Peruvian Deferred Three
per Cents., 59. Sardinian Five per Cents., 95, 941.
Spanish Old Three per Cents., 481; ditto New
Deferred 'three per Cents., 211, 22 ; ditto Commit-
tee's Certif.. 3 per cent. Venezuela Deferred, 15.
Union Bank of Australia shares have been done at
471, ex div.; Australian Royal Mail Steam, 4 ; Lon-
don Joint Stock Bank, 19 ex div.; Ebro Canal, 1 to
1 prem.
The English bondholders of Peru are interested
in the fact, as communicated to us, that the com-
missioners to whom the balances arising from the
sale of guano are paid, finding, on submitting the
case to counsel, that no power exists, in the present
state of the arrangements between the government
and the bondholders, 'of drawing the bonds, and
thereby redeeming the debt at par, should it be
above that range, have given orders for the mar-
clime of the bonds, fixing the limits for the Six per
Cents. at par, and the Deferred bonds at 60; and
that the surplus which will remain in their hands
after making provision for the October divi-
dends will be applied to the extinction of the
debt. It is difficult, however, to perceive the
grounds upon which the above limits are
fixed by the commissioners. The Active bonds
have been for a long time above par, and the
Deferred, though dealt in dining the last few days
some 2!. below 60, would immediately rise above that
figure upon a large purchaser making his appearance.
It thus appears that the action of the sinking fund
will be virtually suspeuded, in direct violation of the
terms of the conversion, which expressly stipulates
that the entire surplus accruing from the guano sales,
after payment of the dividends, shall be applied to
the purchase of the bonds in the market, in the pro-
portion of three-fourths of the Actives to one-fourth
of the Deferred. By a strict interpretation of the letter
of the agreement, it is true the agents of the Peruvian
government may defer investing till after the 31st
December, but the sum then in hand must come into
the open market, or the bondholders will have reason
to complain of a grave infraction of their rights.
The resources of Peru accruing from this grinding
monopoly are ample, and yearly increasing. As an
impression prevails that England is the only large
consumer et Permian guano, it may be interesting
to mention that enough is sold in the United States
and Belgium to produce more than sufficient to pay
the interest of the English debt. Considerable
supplies have oleo been sent to France, Spain, and
Sardinia, and the demand fur thin manure in those
countries is rapidly increasing. Whilst upon the
subject of this debt we may mention that the bond-
holders are calling for a statement from the agents
of the amount of stock that has been cancelled since
the conversion. The statement would be very in-
teresting.
The quinquennial meeting of the Engle Insurance
Company was held to-day, at which a bonus was
declared to the proprietors, and one to the usaured,
averaging 28 per cent. on the premiums paid during
the lust five seam, after providing for which a surplus
of 1530139/. is left to accumulate in aid of the fund
for future bonuses. The directory.' report, which was
regarded as highly favourable, was unanimously
adopted.
The market for foreign exchange was not very
animated to-,lay, and the rates exhibited a rather
upward tendency, alliough the quotations from Am-
sterdam and Hamburg came lower. Short Paris
was done at 26.271 to 30; ditto 3 months at 26.471

LOCAL SMARR MARKETS.
LtentrooL, Arany 13.—The market was active and
buoyant this morning at as advance on yesterday's rates,
but was closed much lower than was opened, and with a
good deal of stock aeries. The day's quotations are
Eastern Counties, 101 Il—East Lancashire, 171—Great
Northern (East Lincolnshire), 371—Lancashire and York-
shire, 78 7j 1 —Di tto (fifth shares), 41 d.—Liverpool,
Croahy, and Southport, 20—London and North Western,125—Ditto (new 1 shares), 31 aol I—Ditto (filth shares),
p.— Manchester, Sheffield, and Lincoln, 301— Ditto
(preference shares), 121—Midland, 72 1 j 1 1 2 It
North British, 71 —North Staffordshire, 5 4.—St. Helen's
Railway and Canal (new preference 6 per cent.), 331—
South Euler% and Dover, 20j 1.
13.—This market was rather
fiat again to-day, and the jobbers were seemingly suffering
a good deal of feverish trepidation. Yeaterdav'a quotations
were, however, tolerably well sustained ; Shrewsbury and
Birmingham B's were done at 61, but these shares closed
rather weaker.

MANCHESTER, Avatar 13.—There woo a fair amount
of business, and prices were rather higher than yesterday.
Leeds stock, 78 ; She/fields, 30f ; North Stofford, ;
Caledonians, 191; Do. Pref., I 0; Dowers, 20f ; East Lan.;
cashire, 171 ; London stock, 1241 ; Midland, 71t; Eastern
Counties, 101 ; Blitektann pref., 241.
Untie, Arouse 13.—There was a rather better market
this morning, though the transactions were not flameout'.
The closing males were as follows—East banesshires, 161 ;
Lancashire and Yorkshires, 77t; North Westerns 8/
Manchester, Sheffield, and Liaeolnshires, 301 Leeds
Northern', 10.

[Advertisement.)—Hottowves OINTMENT AND
Nita bare edictal • mat extraordinary curs of ser-tula of 20 )(idle
Mantling. J •el,on, of 17, Uptier Itroolui-eneet. Derby, woo
afflicted nearly 20 year. with a scrofulous ulcer In her amino, the path
tetra which who Incessant and excruciating. She rnagted to all
kinds nt remedies without avail. trot wan Nor a long time a patient is
the bovitil, but received no relief whatever unttr she had festoon*,
o ilulitiway'n ointment and Nils. 7 hese excellentnuodalows error
quaked a portion of the bone to mono away, andettetrlt.withctanding the
dreadful etude of the wound it le now perfectlyi, and her health
eatirely re.entablished.--Sold by all drugglata, andat Proialhor Mot
loway's ortsbilskinent, 241, Strand,

FontloN CsrrLE.—The following arrivals of
foreign cattle have taken place in one day from the Conti-
nental states. The steam ship Neptune, from Tonningen,
has brought 246 head of oxen and cows, and 138 sheep ; the
Tiger, from Tonniugen, 239 head of oxen and cows, and 124
sheep; the William Penn, from Nieu Diep, 38 bead of
oxen and cows, 42 calvis, and 112 sheep; the Lion, from
Harlingen, 162 headof oxen and rows, 38 calves, 577 sheep,
15 lambs, 2 horses, and 350 pigs; the Giraffe, from Rotter-
dam, 132 head of horned cattle, 600 cheep, a Al 296 lambs;
the Ranger, from Bremen, 83 heal of oxen and cows; the
Aaiun+, from Rotterdain, 89 head of oxen and cows, 44
calves, 692 sheep, and 155 lambs; the Magnet, from Am-
sterdam, 62 oxen and cows, I calf, and 985 sheep ; the Steel
Donlreeht, from Durdt, 79 head of horned cattle, 304 sheep,
15 calves, and 107 lambs ; and the Rainbow, from It.dt e-
dam, 149 calves ; the whole the produce of Holland, De .-
mark, and the Hanseatic States. The whole of the above
arrivals of foreign cattle took place in the port of London
alone on Monday last. The returns of the importation of
live stock from abroad during the last week show a great
increase on previous supplies of this nature ; but it is be-
lieved that the number brought on the first day of the pre-
sent week, amounting collectively to 1,150 oxen and cows,
4,452 itheep, 573 lambs, 3.50 pigs, and 289 calves, making •
total of 6,914 head of stock, has never been equalled in ex-
tent sines the first introduction of foreign cattle into this
country.
THE AMERICANFISHERY DISPETE.—The announce-
ment that Mr. Thomas Baring has undertaken, on behalf
of the government, the mission to the tiuited States to
arrange the differences existing respecting the disputed
fishery question, has given great satisfaction in the City.
The great influence possessed by Messrs. Baring's house in
America will give his judgment and decision great weight
in the mutter. It is also understood that Mr. Baring will
endeavour to obtain the co-operation of the American go-
verment in bringing about more satisfactory arrangements
with Mexico in the prompt and honourable payment of its
foreign creditors.—hilobe.
MIL MACAULAY.—The Scotsman lays : " We regret
to learn, and to announce, that Mr. Macaulay's health is
not yet in such •state as to'permit the hope of his being able
to address his constituents on an early day."
NIGHT Welts IN THE POST OFFICE.—Rapid pro-
gress is now making in the arrangements for working at
night in the inland office of the General Pest Office. A staff
of 40 clerks will, it Is impeded, be engaged on eight duty.