The Express.
London, England, 1852-01-07 00:00:00

Is, 11
6 dis
4

MONEY MARKET.

THIS DAY.
Two o'Ctors.
Although the announcement that the National
Debt Commissioners will hare three-quarters of a
million sterling. to invest on account of the
Sinking. Fund in the quarter ending tho sth
April is calculated to strengthen the Eng-
lish stock market, the unfavourable tenor
of the Cape news has discouraged the dealers, who
are unable to form an opinion as to how long the
heavy drain caused by the Kaffir war may continue.
Prices of the home funds now stand at a decline of
per cent., as compared with yesterday's closing rate,
and of on the top price of that day.
Consols opened lower than they left off yester-
day, being first called 97 to a, and they have since
further receded to their present quotation of 96! to
97, both for money and tho 16th January. The
transactions include another investment of the

Government broker in this stock at 974. The day's
business figures are as follows : Three per Cent.
Consols, 971, 97 ex div.; ditto for account, 974,
97. Three per Cent. ReduCed,97l, ; New Three-
and-a-Quarter per Cents., 981, „. Long Annuities,
1860, 7. Bank Stock, 210, y.
Exchequer Bills have risen another shilling, and
are still looking up the abundance of money,
which will be further increased by the dividend pay-
ments naturally inducing parties to seek a temporary
and easily convertible investment. The present quo-
tation is Wis. to 618. prem. In India Bonds there
have been a few sales at 695. prem.
There is less movement in the foreign stock mar-
ket to-day, but prices of the favourite stocks are sup-
ported at the late advance. Mexican Bonds hare
experienced a slight rally. The transactions re-
corded are us follows :---Danish Five per Cents., 103.
French Five per Cent. ]testes, 101 f. 25c. (exchange,
2.5 f. 23c.) Granada One-and-a-Half per Cents., 164.
Mexican Bonds, 2,41 ; do. fur account, 13th January,
281„ Russian Five per Cents., 1131, I' • ditto Four-
and-a-Half per Cents., 1011 ex div. Sardinian Five
per Cents., 904, 90. Spanish Active Five per Cents.,
234, I ; ditto Passive, di ; ditto Old Three per Cents.,
411, div.; ditto New Deferred Three per Cents.,
18„, 1 cx div.
In the stock Exchange some business continues to
offer in mining shares, and the new gold shares are
firm. The official list notices dealings in Agria Frias
at 21 and „ ; Imperial Brazilian, ; Nouveau Monde,
1,4, ; United Mexican, 2!.

„.
The account of the melancholy loss of the Amazon
has created a painful sensation in the City, and the
shares of the ltoyal Mail Steam Packet Company
have experienced a all in consequence, having re-
ceded from 80 to 76.

V`
--
The amount of dividends on government stocks
falling payable on Thursday next is as follows :
Half yearly

Three per Ccnt. Consols
New Fire per Cent. Annuities 10,700
Three per Cent. Annuities, 1726 10,600
South 4ea Stock
South Seu Three per Cent., 1741
South Sea New Annuities

East India Stock
Annuities ending IWO

64,000
7,100
V 000

315:000
616,000

Total L6,7i15,t00
The amount coming upon this market in the way
of dividends on foreign loans may be estimated as
under:

Due.
Jan. 1. Portuguese Five prr Cents., Converted £u3 583
1811
Ditto Four per Cent.
Ditto Three per Cents., 1848 :2,600
Russian Four-And-a-Half per Contr 121,275
Spanish Old Three per Cents 10:4000
" Ditto New Deferred Three per Cents 2i0,000

Total £624,358

Dividends are also due on Dutch Two-and-a-Half
per Cents„ amounting to 8-T1,0001.; on French Three
per Cent. Beaten, 920,000!.; and on Belgian Two-
said-a-Half per Cents., 110,0001.; and although these
arc payable abroad, still as the coupons arc nego-
tiable here, and a large proportion of these loans,
especially of the Dutch, is held:by English capi-
talists, a considerable amount will eventually come
into this market.

There are few railway dividends falling due, some
small sums from guaranteed and preference shares
forming the entire, but a huge amount is, in the
aggregate, derivable from shares in canal companies,
insurance companies, banks, water-works, docks, and
other miscellaneous stocks.

With the large amount of United States loans
likewise held in this country the great dividend pe-
riod always induces a mass of remittances to this
aide, not only from the federal stocks, but also from
the loans of the various states and cities of the
union, us the course or the exchanges at this period
sufficiently proves.
- -

It will thus be seen that a total amount of divi-
dends, approaching eight millions, is forthwith pay-
able, and the railway dividends to be declared in a
few weeks will carry it beyond ten millions. This
enormous sum is received chiefly by the prosperous
and thrifty middle classes, and a considerable pro-
portion, probably five millions, will come into the
market for investment. This estimate is probably
not beyond the mark, because agricultural and house
rents are likewise payable, from which savings will
likewise be made. The operations of the go-
vernment broker for savings banks, chan-
cery, and other public accounts, preponde-
rate in favour of purchasers; and although
it is not probable that he will be such a large buyer
on account of the National Debt Commissioners, still
he will exercise no unfavourable influence on the
market. It is to be expected that if political affairs
do not produce too much alarm, the investment of
very large sums by the public will materially operate
on the priors of preferable securities.
A meeting of the Colonial Bank was held yesterday,
and a dividend of 1 per cent. for the half-year was
declared, being an increase of per cent.
There was an upward movement in the market for
foreign exchanges yesterday, and quotations generally
were higher. The extraordinary rise in French
shares causes a great amount of that description of
stock to be sent to the Paris market for realisation,
against which drafts on Paris arc offered here on
'Change. Short Pais was done at 25.20 to 22,1;
ditto, 3 months, 25.40 to 45. Amsterdam was very
difficult of sale, and the quotation again ruled higher,
closing 11.19 to Hamburg was not in great de-
mand, and the rate likewise advanced, leaving off
13.10 to 1. Bills on Naples were rather in request,
and negotiatious took place at 401 to 5 16. Leghorn
found buyers at 30.821, to 85. Paper on Spain and
Portugal was sought alter, and negotiated in favour
of sellers. Vienna and Trieste declined again, in
sympathy with the downward movement at Vienna
in the quotation on London ; the improvement is,
however, by no means so rapid as was anticipated by
sanguine speculators. Vienna was quoted 12 to 12.5,
and Trieste 12.2 to 6, which still shows the currency
of Austria to be at a discount of more than 211 per
cent. The amount of business transacted on 'Change
generally was unusually limited.
The exchange at Atria on London is a shade
weaker. _ .

With the continuance of the great demand for sil-
ver for India the price of that market remains No)
firm, but otherwise the bullion market presents no
essential feature.

ICNGLISU FUN I)A.—Triv, PAT.
Dank Stock. MA let Long A mom*, stint
3 ler Ct. Reht..l. WI 1
"11iiini...,kt...it1ut,m101...:.4!. '3.,
3 wirttitio..l:l....t: PA 1
Nacim.yuer sm..,M--.- :4•:....-
Fi 'pc Ct. evulok. iN.I i i

q per Ct. Itol.r.lrtn. Q 4
per Vt. I kar.l.an. 94 6
Po. :t 44, to 3 5
.i per Ct. linen... Ayres. 49 3
por Ll. OW 411, IV let
.tlr, Ct. 1 %lbw., 1.2 4
3 per Ct. Mood', 7i 78
It per 1 t. opeh. 'or to
4 per 01. Dutch. Kit 401
64u.•403. 3
1 per 4)4. Ur 4 enadrall.
prri

i
3 Ix rlt. Meeleout.fn
ZI Ott, fq 2
1/efrrrol. 411) Ti
eg it. renturov•••, .01 3
pet rt. pmeelou. 112 14
per CL Itim.hreL 152 3
6 per 11. Sponlefl, Ante% 231 4
3 per I. Spanish, 412
Ow 5§ I
24 p,r IA. V 34 7
Po. Delerera. 121 J
SPI to teli.