The Express.
London, England, 1852-11-25 00:00:00

Central Peninsular Railways of Port ugall.
This decision is quite in accordance with the view
which we felt it our duty to express when the ques-
tion of Portuguese railways, with a government
Fuarautee, was first mooted; and it is clear that the
Stock Exchange, however averse it may be to dis-
erotrage legitimate enterprise, could not have come to
say other resolution, under the eircuttuitancs..s. The
prvosition of the Portuguese bondholders is exceed-
tufty reasonable, and it is greatly to be hoped that
this manifestation of English opinion may open the
eyes of the Portuguese government to a sense of the
great disadvantages to which their want of public
faith is exposing the country. Apar (from this wise
decision of the Stock Exchange, the public must be
very cautious how they listen to schemes fur Portu-
' guese railways.
Some interest has been excited by the i<sue of
posals fur a loan of 200,0001. sterling to the Dutch
Rhenish Railway Company. Tho loan is to be
raised at par, and application is to be made on
or before the Ist December. The company engage
also to redeem the loan at par, at the expiration of 5
years alter the date of the certificates to be issued.

MONEY MARKET.
WRDNIRDAT ETININO.
The late advance in the prices of the home funds
was fairly supported to-day, although on the whole
the feeling of the market was not so buoyant. This
was to be expected, as prices had risen nearly 1 per
cent. within seven or eight days. Consols to-day
reached 101: for the account, although not marked
higher than 1011 for money, and left off quoted
1011 to 1 for cash, and 1011 for the 9th December.
There was another investment in Reduced Threes on
meet account at 1001. The report of actual
government account at 1004. Tho report of actual
heel.... includes : —Three per Cent. Consols for
money, 1011, 4; ditto far account, 1011, 4 I, I, I.
Three per Cent. Reduced, 1001„ 4, 4. Three-and•a-
Quarter per Cents., 1031,1, 4, 1. India Stock, 277.
South Sea Old Annuities, 100. Bank Stock, 223.
Of the March Exchequer Bills there were buyers
at 725. prem., but the price of tho June issue again
receded Is. ; closing 68s. to 71s. prem.
All the dividend-paying Foreign Stocks are very
firm, with prices rather against buyers. Belgian
Fourend-a-Half per Cent. Bonds were higher,
owing to the projected conversion of the Five per
Cent. Mock, and Peruvian inquired for. In the
New Brazilian Four and-a-Half per Cent. Bonds,
just paid up, there were numerous dealings. Turkish
scrip was rather flatter. The list of bargains is sub-
joined : Belgian Four-and-a-Half per Cents., 99,1
981, f (exchange 25f.). Brazilian Old Five per Cent.
Small Bonds, 1011; ditto Four-and-a-Half per Cent.l
Bonds (1852), 971, 961, 974, 961. butch Two-and a-
Half per Cents., 651,1 ; ditto Four per Cent. Certifs.,
971, 1, 97. Ecuador Bonds, .5. Granada De-
ferred Bonds, 111. Mexican Three per Cents.,
251,1. Peruvian Arrives, 1041,104 ; ditto Deferred
Three per Cents., 621, 1. Portuguese Four per
Cents. Converted, 38, 4. Russian Five per Cents.,
1181,119 ; do. Four-and-a-Half per Cents.,loll. Sar-
dinian Five per Cents., 994, 100. Spanish Old Three
per Cents., 521; ditto Nee:Deferred Three per Cents.,
251, 4. Turkish Six per Cent. Loan, 21, 21 prem.
Ye have again a long list of miscellaneous share
business to report to-day. The sales include :—Bank
of Australasia at 70, 71, 711, and 71 • Bank of
British North America, 60, 391 ; Colonial Gold, 1,51,
; English, Scottish, and Australian Bank, 41 ; Lon-
don Chartered Bank of Australia, 44, 4; Union
Bank of Australia 60; ditto New, 71, 71 ; Union
Bank of L0nd0n,181,..,1 • Australian Royal Mail:Steam,
31, 1,1; Crystal l'alace, 5; Electric Telegraph of
Ireland, II; General Screw Steam Navigation, 29;
Irish Beetroot Sugar (21. 10s. paid), 2 ; Peninsular
and Oriental Steam, 891, 90 ; ditto new 491, 481;
Royal Mail Steam, 781. Our detailed list of the
Quotations of new undertakings is subjoined :
fierier, and Graissessac Railway, 1; to 11 prem.;
Bordeaux and Cetto Railway, .5 to 54 prem.;
Antwerp and Rotterdam Railway, to 1 pre-1
mium ; Royal Swedish Railway, to pre-
mium; Western Railway of Switzerlard, 1.1 to
prem. ; French South Eastern Railway, 1 to 11
prem. ; Lake Constance and Basle Railway, 1 to 41
prem. ; Zealand Railway (Denmark) 11 to 2 prem.;
Staines and Wokingham Railway, 1 to 1 prem.;
Isle of Wight Railway, k dia. to k prem.; Bank of
India, Australia, and China. 1 to 1 prem. ; Ebro
Canal, If to 2 prem.; North of Europe Steam, to
du.; Chiriqui Road, to 1 prem.; French Crystal
Palace, k to j prom.; Magdalena Steam, par to 1
prem. •
Friday next has been officially announced as set-
tling day for the shares of the Bordeaux and Cette
Railway Company.
The market for silver is firm, the Eastern demand
continuing. The last sales of bar silver were effected
at sa. lad., being a reduction of Id. front the top
price lately reached; but no portion of the supplies
brought in by La Plata has yet been sold.
Some very interesting correspondence has just
taken place relative to the new Portuguese railway,
that is about to be brought forward under the title
of the Central Peninsular Railways of Portugal.,
Application was very properly made on behalf ol'
the projected company to the committee of the Stock
Exchange, with a view to learn whether or not the
committee would be disposed to consider the shares
of the company eligible for authorised business u dis
house, or whether they would think that the shares
in question come within the scope of the 77th rule
of the Exchange, which enacts as follows :
The committee will not sanction or take any wonder=
whatever of bargains that may be muds in any new beads
or stock, or any other securities issued by any government
that has not duly paid the dividends on former leans raised
in this country, unless that government shall have effected
some satisfactory arrangement with the holders of such stock
or bonds or other imcuritics oa which the dividends hays
been left in arrest..
It was at the same time urged on behalf of the
railway company, that as its stock was neither a
Portuguese government stock, nor issued by any go-
vernment, it ought not to be regarded as a secu-
rity coming under the above rule. It was also
suggested that the introduction of railways into
Portugal would contribute greatly to the financial and
commercial prosperity of the country, and thus render
it much better Ole to meet the just demands of the
bondholders. The application was referred by the
Stock Exchange Committee to the Committee of
Portuguese Bondholders for their opinion. The reply
of the last-named body was to the effect that they
could not lose sight of the total want of faith which
has characterised the Portuguese government in all
its dealings with British creditors, who, after sub-
mitting to various and repeated sacrifices, have re-
ceived no interest whatever for more than two
years, besides being subjected to the compulsory sur-
render of one-fourth of their dividends for the two
years previous, viz., 1819 and 1850, by which the
amount in arrear is raised to about 1,200,0004
on a debt of ten millions sterling. The -
attention of the Committee of the Stock Ex- REVIEW OF 'me HOUSEHOLD TROOI3.—A
change was also called to the fact that the govern- view of the household troops—consisting of the Life
meat of Portugal has guaranteed a dividend of 6 Guards, and Horse Guards (Blue), and two battalions of
per cent. on the stock of the railway, based on the the Foot Guards—took place this morning on the esplanade
behind thelleirse.G rd. the presence of the foreign
security of a decima tax on the imports and exports officers of distinction, who cam• to this country to attend
of the kingdom, which security is already, together the funeral obsequies of the late Duke of Wellington.
with all the other revenues of Portugal and its de- I Lord Hardinge was on the ground accompanied by a nume-
peodencies, pledged to the:bondholders, as may be at roue staff, and the troops were under the command of the
once seen on reference to the bonds themselves. The !Duke of Cambridge. The 13th Light Dr.igoons were on
Committee of Bondholders proceed to remark that at dutyat the Horse-guards, instead of the usual troop of
a late meeting the creditors signified their willing-
d
ness to make a further sacrifice by accepting a 4 per THE Fhooe.—The continual rains are producing
cent. stock at par for the amount of interest In arrear, moo:. ,ncoaveuience to the farmers, as they completely stop
the progress of wheat seeding; and in many parts of Ewes
upon the understanding that the future dividendsshall hussy floods have laid large breadths of the low lands
be faithfully paid in full. If this proposal is met, the under water, occaaioning,sonit 7.dleenaigzi. hujnwtenheaznoi:
obstacles to sound railway projects may be re- beard
moved, but pending such equitable adjustment of :ninesesorlo.l.l.ll,l.o:4lpll. I
has been done to the emnal
menta, and on Tuesday evening the traffic was suspended,
the claims on former loans, the committee expressl the marshes over whicl the line passes being entirely inun-
-1
honlge onf
a hope that the 77th rule will be rigidly adhered dated. g
htst have.
During b,n
luvseienddri.,:d,n,
,dasynt htpailiasenthnuaapbeintthanaetsrn7o f some
of the houses contiguous to the Eastern Counties line have
to, and that no such railwal or other securities
Cambridge, and North Wovollwicoh
issued under the sanction of the Portuguese govern- I inenthmemu"-11:dficot°rele.av;:*vethetn
. assn at &netonl
Exenchtawng.ilel. b,;heauitiolinodrihscodldetorsbecodmeamltititneeicnotnlcieluSdtooc;7klcgrret:telzy
that some of. the. —an°
reiclirsys, were conveyed by omnibus from one station to leing the only communication between the
expressing a belief that this is the only course Tuesday
iltael!wthaellr,, Eastern Counties, and Cambridge liees.—Esses
were noonen, In feet, such epu
calculated to impress OR the government of Portugal the Eastern Countic-,
the necessity of pursuing a honest policy. Upon
tollie theSplreocnik ol.te:lrsehoafntligee !chit,
WORK FOR TILE COUNTY COURTS.—TWO
receipt of this communication front the Bondholders'
bills have just been printed by order of the House of
adCodmremeietedteet,htehefolCcimngittleeetteorf
Stock Exehange, London,
bLouritubtoroutghhetefouruwnatyrdc by Lord rdTßnruouogbhicanect ,ntotogifvueuinenntorn
railway
roalCPaomamyit'tee Room,
and to lessen the
Courts Equitable
of such
n
Nov. 22, 1842.
Sir,-1 am instructed by the committee to inform yea proceedings in Chancery
ofthatunn tu hitah4.my
ttnaraveitattean.kieon+oiluncurrLmetitintsu•ue.er
communicating
bottitneudh3Onoilimith,r.tOn,ecatoreunnibenras4
tjperunoics eediivnic.i.to.roß...o,toahnisdbeiltlinssearcueatnl.leedariil:'
CountyCdoui ntycuiConuortuinFuthriog
eon; taoitnle.
of Lords ; they see, if passed, tog tale effect from tit, 11th
measly of opinion that the security upon which the prol -
posed guarantee of six per cent. is based has shady been of July asst.

TIIIS DA Y.—Two o'CLocx.
The English stock market remains firm, with a
fair amount of business. Consols support yesterday's
rate of 1011 to 1 for money, and WI 1 for account.
The Three per Cent. Reduced mark 100, to ; the
Three-and-a-Quarter per Cents., 103:; to 7.. India
Stock, 275. Bank Stock, 223. India Bonds, 80s.,
8.35. prem.; Exchequer Bills, 715., 735., 725. prem.;
South Sea New Annuities, 1001.
Foreign stocks are generally steady, but Turkish
scrip 111 rather flatter. Peruvian Deferred is looking
up. Granada Deferred Bonds mark 11; Peruvian
I)eferred, 621, 63 ; Spanish Old Threes, 521 ; do. Now
Deferred,23l ; Turkish scrip, 2; prem.; Swedish,
11 to 1 dia.; Venezuela Actives, 41; Brazilian Font%
and a-Halt per Cents., 97. The Spanish bondholders
ICommittee's Certificates have receded to 31 prem.