The Express.
London, England, 1852-03-02 00:00:00

A tendency towards improvement has been ob-
servable in the English stock market to-day, stimu-
lated by an increased demand for stock and the
renewal of purchases on account of the National
Debt Commissioners. Early in the day prices
were raised to an improvement of and though
sales were afterwards made at a reduction, the mar-
ket now rules steady at the full advance.;
Consols opened j higher than yesterday, at 971 to
and are now quoted 97Z to j, both for money and
the 11th inst. A good many investments have
offered in this and the other home stocks. The of&
cial report is as follows: Three per Cent. Consols,
97:, e, f. ; ditto for account, 971, I ; Three
per Cent. itedioed, 98k, 98, New Three•and-a-
Qmarter per Cents., 99t, I. Long Annuities, 1860,
7 1-16, I; ditto 30 years, 1859, 6 13.16, {. India
Stock, 260 ; Bank Stock, 219.
. . . .

Exchequer Bills maintai n the rise of Is. established
yesterday afternoon. A steady business has been
done in all classes of bills, at 61e. to 645. prem. India
Beads mark 725. to 745. prem.
There has been less business in the Spanish Ame-
ricas securities to-day, bat this feeling of the dealers
appears to be confident, aqd.prices are firmly held.
The chief business has beeA ru Granada Deferred,
in which bonds there wag some reaction yes-
terday afternoon, the price falling from 114
to 101, and closing at 101. To-day a rally
has taken place, and 101 to 11/ is the ruling price,
though transactions have been effected as high
as 114. Equador Bonds have improved to 31
and Spanish and Venezuelan are decidedly good. The
day's business list comprises :—Brazilian Old Five
per Cents., for account, 16th March, 971. Belgian
Four-and-a-Half per Cents., 91. Chilian Three
per Cents., 67. Danish Five per Cents.,lol ex div.
Dutch Two-and-a-Half per Cents., 694, 1. Equador
Bonds, 62 3, 61. Grenada One-and-a-Half per
Cents. ex ]lee., 1849, Coupon, 24, ; ditto Deferred,
104, 111, 104, 11. Peruvian Deferred, 644, 4. Sardi-
nian Five per Cents., 89; ditto for account, 891,
892. Spanish Actives, for account, 241; ditto Pas-
sires, 51; ditto New Deferred Three per Cents., 184,
4. Venezuelan Three-and-a-Quarter per Cents., for
account,
In connection with the movement for the este-
blishmcut of Tribunals of Commerce, we have re-
ceived the following circular from Mr. Francis Lyne,
the originator of the movement :

TRIBUNALS OS COSIMERCS.
12 Markdane, 27th Feb., 1852.
Sir,—lt has been mutually agreed upon, that ;ay dis-
pute with the gentlemen who have lately been advertised
as forming thin executive committee to this movement shall
be settled by arbitration.
Four gentlemen of the highest respectability are ap-
pointed as the arbitrators; they will meet at the London
Tavern on the 3rd of March, at two o'clock, when I shall
plead my own cause, and I shall esteem it a very great
kindness if you will attend, or cause some one on your
behalf to do so, that my explanations may be made known
to you. I have the the honour to be, Sir,
Your most obedient servant,
FRANCIS Lvms, Bon. Sec.
The downward movement in the rates of money
in the various districts of the kingdom is shown in
the reduction of the rate of interest on deposits, from
21 to 2 per cent. per annum, by the Northern, Ulster,
and Belfast banking companies.
At the meeting of the Banking Institute, held
to-day, the subject fixed upon for considera-
lion is the propriety of attempting to establish
a guarantee annuity fund for the benefit of bank
officers generally, on a somewhat similar plan to that
which has for some time past been adopted by
the Bank of England. In this institution every
officer, on payment of one sum of Si. only,
has his fidelity guaranteed, without any other
surety being required, and the advantages presented
by the scheme are so evident, that several of the
larger joint-stock banks are understood to be con-
templating the formation of similar guaranteed asso-
ciations amongst their own office's. With the en-
, couragement thus afforded it is thought a similar fund
may, with certain modifications, be advantageously
raised by a general association of bank officers. One
main advantav of the association, as shown in au
interesting article in the Bankers' Magazine, is, that
'it combines an annuity with a guarantee fund; for
if the losses are comparatively small, u those best
acquainted with the general integrity of bank
officers expect will be the case, the accruing interest
on the gnaranteo fund produces a sum applicable for
retiring pensions or bonuses for the assured, jute
in a mutual life assurance company the profits
are periodically divided amongst the members. The
Governor of the Bank of England will preside at
the meeting, and an interesting discussion is ex-
pected. The success of the principle of guarantee
assurance, as far as it has yet been carried out, is
generally admitted; and now additional proof is to
be found in the modifications making in the rates of
the Guarantee Society. Some time past the direc-
tors reduced the premiums 20 per cent. on all poli-
cies of six years standing, and it is now announced
that a further reduction of 30 per cent. is to be made
on policies of 12 years standing.
The following are the rates at which the Bank of
Austrahisia, the Union Bank of Australia, the South
Australian Nanking Company, and other parties
grant Mlle ea pious in the colonies :
Adankis lO2 103 per cent.
Auckland lO2 It
Balannt lO2
102
Mobleffidlietgremat lO2
Lassa tan lO2 /I
LftMYN lO3
102 It
Plalbrazse
Portland
Sydney lO2 103
Wellington lO2
The exchange at Paris on London has slightly
moved back, being quoted, on Saturday, 23.30.
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 (5) is prefixed, it is to be understood 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 last declared as the basis of our calculation.
To render the calculation strictly accurate, the pro-
portion of interest which may have accrued since
last dividend period should, in each case, be taken
into account:

Ilizio gar Uow,.. Omob. .... --prise 471 76481 pie mat SS 1 84
Throe pot Coat. Rodsood .... vs 0 3 1 28
llowlfrowaboAtorrtor per Com 11.18 . 3 3 7
Book Stook (d(.. az the role of 78 pr
oat per ammo)
Dag Swot . An. 114 For cont. p.f P ) 200 n 4 0 88
lint Wino gores, 184 paid (owan
WI di.. 3 per ost. par ammo) II .. 4 5 84
Snit Wooloto• 4; luu 41. oh.. ou. the
Olio al Spot 00111. Off .nmuni 64 .. 116 34
tammalre am vreliwon cm

at the rate at 3 per eget
per anal
- awl 11/4111a1 weetera stereo

aiiierateViii- per ova.
).
sm
larks lad Nartb 7Aerterm sack*

ma.) Ob. at w;aieof •II par eats. per
117
ILllaid Ilterk•(dhr. at the rattel ,1 per
Vat per sm.) .
*nth Y.tt,ffr Steak* . dir. at %is
___

raTe ot oar net7...;mele.7.
York, Neweatle, end BB•wiet Kock*
(die. at the rate of 3 per test. per
annum)

It will be noticed that the rates yielded by many
of the railway stocks, u calculated upon the basis of
the improved rates of dividend now due, show a A.cry
fair return for investment, when the present position
of the money market is taken into consideration. It
must not be forgotten, too, that several of the com-
panies included in the above table are rallying from
a very depressed condition, and that there is every
promise of future dividends being of a highly satis-
factory character, from the increasing traffic of the
country and the nnineroui economical improvements
now in course of introduction.

1:‘ ti Lllll YUNDK—Tria Dar.
Bank Stne',. SIR 193 I mig A.1.'104,4.71.16 3
3 per Cl ltr.luev.i e 3 I In Ita Swat. 3113 60
per Ct. Cumuls. Tel Mtn 1t00.14.1.6U01., 71.. 740,
Eachorrier DA* I.OM. Ur 44.
epiwitoctifect:44.4..