The Express.
London, England, 1852-12-17 00:00:00

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MONEY MARKET

TIM/ODA T EVNIfINO.
Business was very slack in the English stock
market to-day, but the feeling was a shade stronger,
and the slight reduction established yesterday after-
noon has been recovered. The attention of the
members of the house was absorbed to an extraordi-
nary degree by the settlement of the account in rail-
way and gold mining shame, which proved extremely
heavy. In both departments money was in great
demand, and very high rates of interest were

-hairiest ever known in this-71;-"iartment, Tie 1
transactions having been of a far more extensive
character than could have been anticipated.
In fact, there appears every probability of
a mania on a small scale setting in in
these gold mining shares, Californian as well
u Australian, although chiefly in the latter.
A vast number of persons who are usually content to
watch the phases of the markets from a distance, or
to invest their surplus capital in quiet dividend-
paying securities, such as railways, banks, and other
undertakings, have become violently attracted by
the golden visions opened up, and thus in many cases
considerable changes of investment have taken
place. An explanation is thus easily afforded of the
high premiums to which the shares of some of the
gold companies have already attained, and of the
sontinued upward tendency. In addition to the
speculators who are ever ready to be borne along
upon each turn of the markets there is engaged in
the present speculation a great number of small
operators whose means are suited by the trifling
amount of each share, and the consequent
facilities for limiting their venture. To those who
urge the risk of engaging in undertakings of this
character at inch enhanced ratan of premium, the
answer of holders is given by drawing attention to
the astounding accounts from Australia, and asking
who will dare to fix a limit to the auriferous capa-
bilities of those colonies. This was more particu-
larly the case to-day, when the accounts of the re-
newed discoveries of gold were read with extraordi-
nary eagerness. They certainly afford very remark-
able corroboration of-the anticipations in which we
have on several occasions ventured to indulge, New
'regions of gold are opening up every day ; between
thirteen and fourteen millions sterling of the pre-
cious metal have already been extracted from the
earth; and according to to-day's advices the area of
the territory over which the auriferous strata extend,
is no less than 60,000 square miles. With these
facts in view, there is obviously every probability of
the continuance of a state of great excitement.
Consols ruled steady at 1004 to ex dive for the
18th January, but much anxiety continues to bo ex-
crl=i as to the result of to-night's debate. Reduced
remain supported by the investments on go-
raiment account. Bank Stock improved to 224.
The official business report is as follows:-Three
pie
ue4C3ent. Consols, for account, 1001, 4. ex ;div. ;
per Cent. Reduced, 101, 1001 ; Three-and-a-
Quarter Iper :Cents., 1031, 104. Long Annuities,
1860, 61 7-16. Bank Stock, 223, 224, 223.
There was rather more inquiry for the June Exche-
quer Bills at the late depressed quotations, and the
price rallied to 60s. to 635. prem. The March bills
were quiet. India Bonds ranged from 738. to 79e.
prem.
In the foreign stock market the settling was also
brought to a close, and apparently without difficulty,
although in this department, likewise, the demand
for accommodation was considerable. Portuguese
Bonds were considerably better, and Brazilian, Sar-
dinian, and Dutch showed an upward tendency.
Prices, on tho whole, were rather firmer all round.
Sales are thus marked:-Belgian Four-and-a-Half
per Cent. Bonds, 991 (exchange, 26f.) Brazilian
Old Five per Cents., 1024, 1; ditto, Four-and-a-Half
per Cents., 1852, 981, 1,1; ditto, Five per Cents,
1829 and 39, 104. Buenos Ayres Six per Cents., 74
for account, Dec. 30. Danish Five per Cents., 108.
Dutch Two-and-a-Half per Cants., 674, 1; ditto, Four
per Cent. Certifs.,99l. Ecuador Bonds, 5,1. Granada
Deferred, 124. French Four-and-a-Half per Cent.
Banter, 105 f. (exchange, 25f. 20c.) Mexican
Three per Cents., 241, 3, 1. Portuguese
Converted Four per Cents., 401; ditto for ao-
°out, 404, 411, 404, 41; ditto small, 421. Rus-
sian Five per Coate., 119; ditto Four-and-a-Half
per Cents., 1043,1063. Sardinian Five per Cents.,
061, 96. Spanish Old Three per Cents., 601, 3 ;
ditto New Deferred Three per Cents., 24, 233, 1, ;
ditto, for account, 233; ditto Pudic (Converted), 8,
61 ; the Committee's Certif., 3: per cent. Turkish
Six per Cent. Loan, 11, 13 prem.
Miscellaneous shares continue very firm, with an
active business, especially for undertakings connected
with Australia. Shares of the Australian Agricultural
Company rose to 88 and 90, and in the afternoon
were quoted full 101. higher. Sales were also effected
as follows :-Bank of Australasia, 80!, 80,1; Eng.
lish, Scottiah, and Australian Chartered Bank, 41, 1,
Lekiron Chartered Bank of Autralia, 51, 3
and Westminster Beak, 36; Oriental
Bank Corporation, 38 ; Union Bank of Australia, 691,
681; Southampton Docks, 40; Eastern tirani Na-
vigation paid), 1 ; General Steam Navigation,
284; National Patent Steam Fuel, 14; South Austra-
lian Land, 16, 46; Van Diemen's Land, 101, 11.
Beeler, and Graissessac Railway shares closed to
em. ; Royal Swedish Railway, dis. to prem. ;
French South Radom Railway, Ito prom.; City
Railway Terminus, to 4 prem. (nominal) ; Staines
and Woking Railway, 4 to 3 per; Hamilton and
Toronto Railway, I- die. to 1 prem.; Danish Zealand
Railway, 3 to 14 prem.; Lake Constance and Basle
Railway, 1 die. to 1 prem. ; Orleans and Epernay,
to 3 prem. ; Tynemoath Docks, par to 1 prem.;
Bank of Asia, 4 die.to par; London Bank of Aus-
tralia and India, Ito prem.; Magdalena Steam,
per to 1_ prem.; Qiriqui Road, to prem.
The P.rmarthen and Cardigan Railway is another
new home line jut projected. The line will be
about 34 miles in length, and will run from the
South Wales Railway at Carmarthen to Cardigan.
In addition to the local and general mineral and
other traffic, it is hoped that the traffic from the
south of Ireland will be brought upon the line. The
capital required is 700,0001., in 201. shares.
The traffic returns for the last week on the under.
mentioned English lines of railway, as made up to
this day, are as follows :
1862. 1861. 1860.
landiLsailztla NorthWestaa i 44,384 ..£41,268 f 41,481
.. 16,606 .. 14,133
I Loaded 'Ed Bank 9,062 .. 9,194 .. 8,396
Louden sad &Woe 9,290 .. 8,039 .. 8,308
Gran Weans
Miami 23,260 .. 22,196 .. 21,8113
805* Easters
Yost need North 8,042 .. 7,618 .. 6,666
York, Newcastle, It Berwick 14,146 .. 13,102 .. 13,212
Sloe sad Chester 1,464 .. 1,386 1,361
Greg If
Mailer Rolyhead
17•60 n 662 .. 643 .. 427
Smog sad Creditors -
Bristol OA Baiter
Mortelsesaa losthJunctiow 496 .. 466 .. 0144
Best Irmesehire 4,263 4,010 8,464
aerados sad Norfolk 14,401 .. 14,176486 .. 14,616
lea
Loeb Nathan 1,183 .. 1,004 814
Ibmeatar, and
Ife==e 6,249
6,047 .. 4,688 4,614
Saabs and Hartlepool