The Express.
London, England, 1852-08-04 00:00:00

MONEY 411.4.81017.

TIIRSDAT EVIIIII/0.
The English stook market to-day was heavy, cash
realisations again exercising a depressing influence.
Consols, which were marked 1001 for cash in the
morning, fell to 1001, and closed 1001 to 1 both for
money and the 12th instant. The transactions
chiefly centered in this stock, and the operations
for time were very few as compared with those for
immediate delivery. The following is the official
business report : —Three per Cent. Consols, for
none 100;, 1,1 'l, 1 Z ; ditto for account, 1001,
1. Three per 'Cent.t. lieduced, 101 k, 1001., 101.
New Three-and-a-Quarter per Cents., 1011, 1 1,
1. Long Annuities, 1860, ; ditto, 30 years, 1860,
61. South Sea Old Annuities, 100, 991. Bank
Stock, 233, 232.
The unfunded securities were extremely quiet,
with prices ruling nominally as before, viz., Ezehe
quer Bills, March, 761. to 795. prem. ; ditto June,
71e. to 745. prom. India Bonds, 91s. to Ns. prem.
The foreign securities continue quite neglected,
and the only change in price is in Mexican, which
receded to 231 for the New Threes. Brazilian Four-
and-a-lialf per Cent. scrip was firm at 3 prem., and
Spanish Bonds were well supported. The business
list is very brief, including only the undermentioned
stocks :—Austrian Five per Cent. Scrip, 51
pram. Brazilian New Four-and-a Half per Cent.
Scrip, 3 prem. Dutch Four per Cent. Certifs., 961,
a• French Three per Ont. Reeks, 76f. and
75f. 50e. (exchange, 25f. 35e.). Mexican New Three
per Cents., 251, 1, 1. Spanish Old Three per Cents.,
491; ditto New Deferred Three per Cents., 221, 1.
ditto Committee's Certif., 3 per cent.
Business has been done in Australasia Bank shares
et 56; London and Westminster Bank, 321, 32 ex
div.; Provincial Bank of Ireland, 46/ ex div. ; Union
Bank of Australia, new shares, 61 ex div. ; Crystal
Palace, 51, 51. Ebro Canal shares were again
largely dealt in to-day, and realised / to 1 pram.
As a met-off to our receipts of gold from Australia
and California, must be taken into account the ship-
ments from this side to our colonies. The Sydney
steamer, belonging to the Australian Royal Mail
Steam Navigation Company, which left Gravesend
on Saturday, and is fixed to sail from Plymouth to-
day takes out 300,000/. worth of the precious metals.
Witb the exception of 5,000/. worth of watches and
jewellery, the whole of this large amount is in coin.
From the committee of Mexican bondholders we
have received the subjoined statement of the amount
that has come forward to the Messrs. Baring*,
vference to which was made in the Erpress of
this afternoon. _ _ .

Messrs. Baring, Brothers and Ce. have received bills of
lading of 14,646 doll. 760. shipped at Tampico, and of 47,863
doll. 65c., shipped at Vera Crus, per Medway, to their ad
dress on account of the 800,000 dole. which they arivanced
for the payment of the January dividend. As those ship-
ments will have arrived by the Orinoco, the arrivals on this
account now amount to 686,825 doh. besides which there
are shipments to the amount of 32,401 dole. which have not
yet arrived.
As collateral security for the repayment of their
advance, it will be recollected the Messrs. firings
hold a bill for 280,000 dole., forming part of the
American indemnity money specially set aside for
this purpose. The above statement shows that the
firm is virtually in receipt of 818,228 dole., accruing
from the ordinary customs revenue, which leaves a
balance of 181,774 dole. still to be met.
Tho bondholders of Mexico, and the commercial
community connected with that republic, will learn
with much interest that the French government
have it in contemplation to propose to the govern-
ments of England and the United States that their
united good offices should be exerted with a view to
placing the government of Mexico on a firm basis.
Much attention has latterly been drawn to the pre-
sent position of that unfortunate republic, and
amidst the difficulties with which the question is sur-
rounded, apprehensions are not wanting that future
collisions might occur between the three powers in
the event of Mexico falling to pieces from the feeble-
ness of her executive, and the want of patriotism of
her legislature, which refuses to make provision
for the requirements of the government.
The French government is deeply interested
in maintaining the independence of Mexico,
and it is well understood that neither France nor

Spain would be indifferent to the republic being ab-
sorbed by the United States, as there can be no
doubt that the extinction of Mexico as en indepen-
dent nation would be inevitably followed by the an-
nexation of Cuba, and probably by other territorial
encroachments on the part of the monster republic.
It is under these impressions that the French govern-
ment are about to open negotiations on the subject,
which, even if unproductive of benefit as regards the
main object in view, will at least be attended with
the good result of placing the views of the three
governments more plainly before the world. It may
be well suspected, indeed, that this last point forms
the main aim of the French government in taking
the initiative in the matter. The question that
has brought the subject prominently under the
attention of the two European cabinets is the dispute
between the Mexican administration and the repre-
sentative of France relative to the free export of the
indemnity money—a dispute which, as already stated
by us, may be considered as finally settled, by means
of the explanations afforded by the English govern-
ment. At the present time it becomes imperative on
the English bondholders of Mexico to make a fresh
stand in defence of their rights, for it is manifest
that affairs aro approaching • crisis. Ten millions
and a quarter sterling of debt are jeopardised, and
unless a spirit of energy be infused into the coin•
mitten, the consequences may be very detrimental to
this great interest. The case of the English bond-
holders of Mexico is indeed one of great hardship. After
successive clippings and reductions of the debt, suspen-
lions of dividends, and conversion after conversion,
in every one of which some portion of the original
claim was pared away, the bondholders have at
length consented to the last conversion, in which be-
sides giving up other claims to a Dirge amount they
have consented to have their Five per Cent. Bonds
cut down into Three per Cents., on the express stipu-
lation that 23 per cent. of al the Mexican customs
duties shall be assigned to them, the government of
the Republic being further bound to make up any
deficiency in this source, and guarantee the full and
punctual payment of the reduced dividend. The
very first dividends falling due after this solemn con-
vention use almost indefinitely postponed, the hard-
ship being positively rendered greater by our know-
ledge of the fact that the revenues of Mexico, if only
properly and honestly applied, wouldbe ample to meet
the dividends on the foreign debt and all other de-
mands of the administration. As guardians of the
interests of the bondholders, the committee ought at
once to throw off their inactivity, and, taking up a
firm stand, demand that the terms of the new bonds
shall be fulfilled. They ought to address Col. Facie,
the representative of Mexico, on the subject, and not
only lodge a protest against the non-payment of the
dividend, but at the same time give in an intimation
that the bondholders will record their claim for the

entire debt due from the Mexican government, which
was only relinquished on the express condition that
future dividends should be paid with punctuality.
Another step that might be most usefully adopted
would be for the committee to at once draw up and
place before Lord Malmesbury a list of t heir grievances,
calling upon his lordship to remonstrate energetically
against the failure of the Mexican government to
fulfil its engagements. The supineness of the com-
mittee is regarded as extraordinary, and we hear the
strongest complaints from the bondholders on the
subject.
We understand that in consequence of the rapid
progress of the works carried on by the Netherlands
Land Enclosure Company, it is expected that some
of the land reclaimed will be ready to be put under
cultivation within ten days from the present time.
This company, it will be remembered, was brought
out some time ago, with a mixed direction
of men of standing in England, Holland, and
, Belgium, and the shares are similarly held in the
Vthree countries. Aringements are being made for
having the shares regularly quoted in the markets