The Express.
London, England, 1852-04-01 00:00:00

MONEY MARKET.

WEDNESDAY EVENING.
SOME sales of money stock offered this morning,
in connexion, it is understood, with the settlement of
the account in the railway share market, and the
pries of Consols underwent a reduction of 1, from
which the market did not recover. Consols left off
981 to 3, both for money and the 13th of April.
The transactions included another small purchase on
account of the Sinking Fund, but it had little effect.
The official list records business in Consols only at
981, 1, and 3, for money, and 981 for Account.
Exchequer Bills remain firm at 68s. to 71s. prem.
India Bonds met with more inquiry, and the price
ruled at the improved quotation of 77e. to 80s. prem.
In the foreign stock market the final liquidation
of the balances arising out of the account now closed,
progressed satisfactorily. Fresh operations on an
extensive scale have been prosecuted in Peruvian
Bonds, the price of which was to-day carried as high
as 1083 for the Active Bonds, and 663 for
the Deferred Stock. For a Five-and-a-Half
per Cent. stock (being the rate of interest that will
be borne by the Active Bonds after the Ist of April),
and considering the nature of the resources from
which the claims of the bondholders are met, the
fernier pticimaig le regarded . megfAigh. One
consideration,lowever, that enters materially Into the
calculations of the dealers, is the extended operation
of the Sinking Fund. The bonds to be redeemed are
not drawn by lot and paid off at par, as is the case
with the Chilian and other loans, but are purchased
in the open market. Moreover, it is contem-
plated that the gradual extinction of the
debt will now make rapid progress. The
Deferred Bonds will bear interest at the rate
of 1 per cent. from the Ist April, 1832, tho scale of
interest undergoing a yearly increase of 3 per cent.
till the Ist April, 1856, when it will remain fixed at
3 per cent. In connexion with the sinking fund, a
circumstance is developed strongly suggestive of in•
justice on the part of Peru towards her creditors,
though at the same time it must be admitted that
she is acting in strict accordance with the letter of
the convention concluded with the bondholders. Pur-
chases of these deferred bonds for cancelmcnt have
been made, actually prior to their bearing interest,
at this miserable rate of 1 per cent. per an-
num. It is urged that if Peru can afford
to buy up her debt in this way, she could
surely have afforded better terms to her creditors,
especially when it is considered that these Deferred
Bonds are the arrears of interest that accrued on the
lactive debt between 1825 and 1849, funded at the
Irate of only 73 per cent.
Venezuelan, Mexican, and Buenos Ayrean Bonds
were likewise better to-day, and Spanish stocks
wear a steady appearance, but Oranadan Bonds are
decidedly weaker. The official business list is as
follows:—Buenas Ayres Six per Cents., for Ac-
count, April 13, 73,75. Dutch Two-and-a-Half per
Cents., 601, 61. French Four.and.a-Half per Cent.
Rents., 101 f. 50c. (exchange, 25f. 30c.) Granada
Deferred Bonds, 91. Mexican Bonds, 321, 4; ditto,
for Account, 321 ; ditto, New Converted Three per
Cents., 261. Peruvian Five per Cents., 1849, for Ac-
count, 15th April, 1073, 83, 73, 83; ditto, Deferred,
65, 661, 641, 66, 65, 66, 631. Sardinian Five per
Cents., 93. Spanish Five per Cents., div. from
May, 1846, 223; ditto 1847, 211 ; ditto Old Three
per Cents., 443; ditto, Pew Deferred Three per
Cents., 20, 191 ; ditto, Committee's Certif., 21 per
cent. Venezuelan Three-and-a-Half per Cent. for
Account, 47, 3.
The prices at which transactions have taken place
in the more speculative descriptions of foreign bonds
during the account are subjoined, together with the
extreme amount of fluctuation :

HON. Lowed. lrareiatroo
Brim ANN 111: per Out. Doe& ... 51
Wpm*" 009
.e-Melt per Poi& U
DON ININN
Nab= limb
101
Perides PIN far Coda I::
DONDsferrid as
reerm• roe per coo.
OprOli/otleva II
LlOB9Oll Three per Q 1124.
MN New Dehrred Three par ON0.. N
VioneN ANN 0
Ms DONN
Peruvian stocks to-day stand at the highest range
yet realised, and the rapidity of the upward move-
ment in the deferred elm of this debt is strongly
marked in the extraordinary fluctuation of 101
during little more than a fortnight. Spanish, Vene-
zuelan, and Mexican Bonds also present a favourable
appearance, on a comparison of the rates now
current with these that ruled at the commencement
of the account. On the whole, business in this de-
partment of late has been much more extended than
usual, and the settlement has been proportionately
heavy.
This was also payday in the share market. The
tuZleid table flows the extreme prices at which
has been done in the principal railway
steam during the account now closing, and the ex-
treme fluctuation per share:
PM. MONA. Lowest. Phetrasks
psi Owe.
81: =immetoelho .. ...... '4
I
IN five WINN
ill 7
IN 1000010, sot Yorlohler
100 loss/0ONO DON4eO. rod ONO
911
IN IosimeNIIININIWNIrs
IN Imam ad Ilsoli Weston No
ON Wissdodat, NAM, sad IJa.
Mr
:11 : 1
IN MONO -........ .....
N Sioo9 'Nora Si
N TokaINNO/011filorerlsk
SO Teri sad Milk MOW 134 11
This statement presents an unusual amount of
fluctuation occurring within so brief a period, and
must be regarded by shareholders with feelings of
satisfaction, as the course of the market, notwith-
standing repeated checks, has been steadily upward,
and the present rates, although some reaction was
apparent to-day, are at a greatly enhanced range.
The market has at times during the account been
very animated, and heavy differences hays been
shown, but we have heard of no case of difficulty
among the dealers.
The last quotation of Canada Five per Cent. Bonds
is 100; ditto Six per Cent, 1091, / ; City Naviga-
tion Three-and-a-Half per Cent. Bonds, 931.
At a meeting of the proprietors of the Canada
Company, held te-day, a sal varactnry atatcment was
presented. The assets of the company are valued at
988,7941., which shows an excess over liabilities of
b 47,8221.
The general joint stock share market remains very
firm, insurance, bank, dock, and other shares meeting
with a fair inquiry. Towards the latter end of next
week, when the dividends on the public funds will
be paid, an increase of business in this market is
expected.
Bank shares have met with more than the average
number of transactions during the week, and pnees
are firm, eepecially for Commercial of London and
Union of Australia shares. The sales recorded
comprise :—Australasia (401. paid), at 391,
Colonial (251. paid), 111 ; Commercial of London
(201. paid), 25, • London Joint Stock (101. paid), 18 ;
London and Westminster' (201. paid), 294; National
Provincial of England (35/. paid), 401; National
of Ireland (221. 10s. paid), 171 ; Oriental Bank Oar-
pavilion (261. paid), 321 ex dividend and bonus ;
Provincial of Ireland (261. paid), 43, 1, 1 ; Union of
Australia (251. paid), 381, /.
Dock sham are well held, and the progres-
sive improvement that has been going on for many
months in the prices of these accentual Is maintained.
Commercial stock is quoted 901; East and West
India, 163, 154; London, 1211; St. Katharine, 82;
Southampton, 20.
In the market for steamboat shares there have
been a few realisations of Peninsular and Orientals,
and the price is consequently weaker, the old shares
marking 791, 781, 79, 78, 1, 79, 78 ; ditto, New
(101. paid), 27; Royal Mail Steam are firm at 801;
and General Steam Navigation at 281 cx div.
In Insurance shares the tendency continues up-
ward. Globe stock has further improved to 1361 to
1371 and Guardian to 604. Pelican shares have