The Express.
London, England, 1852-12-31 00:00:00

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TkIIIIIDAT Evatrine.
The English Stock Market remains flat, and to-
day.there was a further slight redaction in prices.
An locieased demand for money out of doors, which
is usual at the close of the year, as noticed by us
yesterday, appears to be inducing ;estlisations. Some
• bulls" bare also sold, being diseonrared by the
efflux of the precious metals, and the understanding
that the next return of the Bank of England will
show a large decrease in the metallic stock. This
drain may possibly cautious, especially as it is am-
siated by the demand for shipment to Australia, but
as the causes of this movement of the precious
metals are merely temporary in their operation and
perfectly understood, httle importance is attached
te it in monetary circles. Up to the present
time the amount of coin shipped to our southern
colonies has probably been nearly as large as Ike
receipts of Australian gold dust, so that the dis-
oouragement felt by the " bulls" appears to be pre-
mature. A million and a quarter sterling in the
precious metal is known to be on its way to this
country, and consequently any downward movement
of the Bank's stock can be merely temporary.
Opinions are already beginning to be expressed that
a rise in the rate of interest may enter into the de-
liberations of the Bank Directors, and the jobbers,
as we know, are reckoning upon a degree of tight-
ness in the money market which some of them
imagine will give a decided blow to speculation
foe a rise, but it does not appear that
these anticipations are lately to be soon
realised. Indeed, in many quarters it is expected ,
that before the end of January we shall have a very
rampant market for most descriptions of securities,
including the English funds Money is still abundant
at 2 per cent. for all legitimate purposes, although with
an increased but temporary demand for accommoda-
tion, and it must also be remembered that this
January dividends fall due in a week from the pre-
sent time.

Consols opened at yesterday's reduced rate of 1001
to t ez div. for the opening of the 18th January,
and so remained all day, but the after hours' quota-
tion was only 1001 to 1. The business report, as
officially rendered, is as follows :—Three per Cent.
Consols, for the opening, 1001,A, ex die.; Three
per Cent. Reduced, 1011, 1; Three-and-a-Quarter
per Cents., 104 j, 1, 1. Long Annuities,lBBo,B 7-18.
Bank Stock, 2241, 2231.
Exchequer Bills continue quoted 89s. to 725. prem.
There appears to be sonic omission in the daily offi-
cial list, which of late has rarely recorded any busi-
ness in the June issue, although transactions take
place in these bills daily. India Bonds were pur-
chased at 83• prem.
In the foreign house there was a scattered business,
without any decided change in prices, except in
Portuguese Bonds, which were heavy, in co nonce
of the receipt from Lisbon of the decree (pub •
in another column), ordering the immediate conver-
sion into a Three per Cent. stock of all the debts of
Portugal. This arbitrary enactment is viewed by
the bondholders, and indeed by the whole monied
community, with a mingled feeling of surprise
and in on, the spoliation being of the most
barefaced character. What, for instance, can be
more dishonest than to order the conversion of a
4 and 5 per cent. stook into a 3 per cent., without
consulting the holder in the slightest degree, the
Portuguese government at the same time coolly in-
forming its creditors that all parties who do not
present their bonds for cot:version will, after the let
Jananda2bl.B6o3o,nru,doted ozilyh: 3
flier cent.pd interes
the t,
-
version P At the same time, the bondholders are
graciously informed that the overdue dividends
seeming in the last half of 1848 and since will be
fended into •Three per Cent. Deferred Debt, which
will begin to bear interest in 18831 But for the
feet that the dividends on these stocks have
not been paid with regularity for some
years, and that from each payment that is
made the government has arbitrarily deducted 25
per cent., by which a Four per Cent. becomes in
reality only a Three per Cent, stock, the price would
donbtlas have fallen heavily. This deduction of 25
per oent. may, however, with equal justice, be made
from the dividend payments on this new Three per
Cent. stock. The bondholders will no doubt have a
meeting, and protest energetically against this caw
"bTbnrflesh and Mexican bat
Apinish and Granada Deferrerate=tom
The bargains reported include the embesientiesell
stocks :—Belgian Fone-and-a-Half per Omits, 1101, I
(exchange, 25E). Brazilian Old Five per Cents., 10111
ditto Four-and-a-Half per Cents., 1852, 981 1 dII
New Five per Centt, 1829 and 1839, 1031. I
Chili= Six per Cents., 107. Dutch Two-intim
Half re Cents., 881; ditto, Four per Cent.
981, Ecuador Bonds, 61. Granada DsCrt
121, 131, 13. Peruvian Six per Cents., 104; ditto,
Deferred Three per Cents., 841_;. ditto, for account
14th Jan., 851. Port:now Five per Converted,
1841, for account, 42; ditto, Four per Cents., 39 ;
ditto for account, 40, N/. Russian Five per Cents.,
121; ditto Four-and-a-Half per Cents., 1061, I.
Spanish Old Three per Cents., 611; ditto New
Deferred Three per Cents., 24; the Committee's
Certifs., 41 per cent. Turkish Loan, par. Vene-
zuela Three-and-a-Half per Cents., 41.
H.M. steamer Plumper has arrived at Ports-
mouth from the Brazils, with 6,370 ounces of Austra-
lis yid, transhipped from the Emperor, which
veal pat into Monte Video in a leaky state on her
homeward voyage from Sydney.
The settlement of the account in the mining and
railway zembets was brought to • close to-day,
although, oleic to the heaviness of the account,
man ef the Mimesis stand over till to-morrow
for Is the railway market it would
eyrie OM lie majority of the dealers retain an
maser ;mid" and are opposed to a rise partly on
the renempffien that the greater demand for money
out of leas may pressatly lead to an advanced rate
claimant 1 bet, so far as the Stock Ulan set-
tlement is maserned, money has been y less
wanted's railway shame than at the lad meant.
Comiarable amounts of stock are still Mid by the
jollies la pawn, bet as they are numeral* oversold
qmist the " bulls," eantanges in elm& eases have
vithalsmymesd cd yesterday and *dm% At
ped, _ the rates have dediedousd the pro.
vigil masts generally show no pressure of &at.
bite miselleasous share business to-day was not
=me it We. The shares of the English,
sal Amtralian Chartered Bank were in
imeeed, and imroved to 11 to 21 prem. after the
regular hoc The dealings in Australian Bank and
4:forted
Immt isms are in the official list. Aus-
tralia sharesv closed 270 to 280. There
were is the shares of the Oriental Bank at
40, mil Land Enclosure Company at 1
pm. The quietism of new undertakings are m-
um& but are i seems cases only nominal :—Chi-
dwelt Road, I die. to 1 prem. ; Hosiers and Grainer°
Railway, ito i prem. R Swedish Railway,
1 to / di ; French South Rogan Railway, I to 1
prem. ; Financial Union Bank of Paris, par to
pm.; Zealand Railway, Ito I preen.; Greet West-
eaand City Junction Railway, par to 1 prim. ;

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