The Express.
London, England, 1853-08-10 00:00:00

No. 1811.1 "as. Pd.
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4,0 1 10 Do. Nair . .. all
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i

MONEY MARKET.

TUESDAY ETININO.
Tho English stock market opened at a decline front
the quotations of yesterday afternoon, and, although
a rally took place at one period of the day, the
closing range shows a fall of per cent. from that of
yesterday. General dissatisfaction is expressed at
the insufficiency of the parliamentary explanations of
last night, which are, moreover, interpreted as not
fully confirming the pacific statements previously put
forward in so authoritative a manner. As we ob-
served yesterday, there is an impression that the
Eastern question is yet far from being settled, but
the opinion gains ground that hostilities are now less
probable, and that the ultimate pacific arrangement
of the dispute may be looked for. The Paris bourse
of to-day was reported by telegraph as closing firm,
and this tended to check the decline.

Consols opened 97' to 98, and after touching 98,
buyers, closed rather flatly at 97; to 1 for money
and Thursday, and 971 to 98 for delivery in Septem-
ber, the contango to which rules at 1-16 to 1. The
preparations for the settling are understood to show
the account to be less " bearish" than had been anti-
cipited. The official business report includes :
Three per Cent. Consols, for money, 971, 98, 971;
ditto, for account, nth August, 971, 98, 911. Three
per Cent. Reduced, 981, 1. Three-and-a-Quarter per
Cents., 1011, 101, 1, 101. Long Annuities, 1860,
51, 6, 5 15-16. Bank Stock, 228 India Stock, 2571.
Exchequer Bills remain steady, at 2s. die. to ls.
prem. India Bonds mark 21e. prem.

- •
Foreign stocks were well supported, and generally
showed an im provin g ten dency, including Mexican and
Spanish. Business, however, was the reverse of active.
At 4 o'clock, Mexican Bonds were quoted 261 to 1:;
Peruvian Deferred, 57 to 59 ; Granada Active, 21 to
22 ; do., Deferred, 81 to 91; Spanish Deterred Threes,
231 to 1 ; the Certificates, 6 to 61 per cent. Chilian Six
per Cents , 1041. Sales are thus marked : Danish
Three per Cent., 1825, 841. Dutch Four per Cent.
Certificates, 981, 1. Equador Bonds, 6. Mexican
Three per Cents., 261, /. Peruvian Four-and-a-Half
per Cent Bonds, 83, 1. Portuguese Four per Cents.,
431 ex div. ; ditto ex all overdue coupons, 40Z.
Russian Five per Cents., 1171; ditto, Four-and-a-
Half per Cents., 1001, 1011 ; ditto small, 1011.
Sardinian Five per Cents., 951. Spanish New De-
ferred Three per Cents., 231 ; the Committee's
Certificates, 61, 61 per cent.
The money market to-day was quieter, but money
continues fully employe&
The bullion brokers were engaged to-day in pre-
paring for transmission to the continent the gold
brought in by the General Hewitt and Nelson. These
two vessels, it will be remembered, brought in an
aggregate of 50,000 ounces from Australis last week,
the whole of which is expected to be sent away.
It was officially announced to-day that the direc-
tors of the Midland Railway Company will recom-
mend at the ensuing meeting a dividend at the rate
of 31 per cent. p:r annum. 'llia is equal to the di-
vidend last declared, and 1 per cent. per annum more
than that paid in the first half of 1852.
We understand that the shares of a company,
formed upon a scale of magnitude, and called "The
Great Water Company of France," will be issued in
Paris on the 11th inst. The promoters of this com-
pany number amongst them many influential names
both in France and England, and have been engaged
many months in maturing their project. The presi-
dent of the company is Count Simeon, and the
bankers the Messrs. Rothschild,. The shares are
understood to already command a considerable pre-
mium in Paris.

Since the publication of the telegraphic despatches,
stating the adoption by the Emperor of Russia of the
proposition forwarded to him from Vienna, holders
of Russian stocks have shown more confidence ; but
it is instructive to notice the distrust of the Empe-
ror's credit that was engendered by the obstinacy
which he has manifested throughout the dispute.
Holders recalled to recollection the fact that in
1813, 1814, and 1815, the payment of the dividends
on the foreign debt was suspended ; and it was clearly
seen that, such being the result when Russia was in
alliance with this country, British holders of Russian
securities would be in a poor plight if war ensued
between this country and the Emperor. The
capabilities of the Russian Treasury, however, in
case of protracted hostilities, are not esteemed very
highly, and confidence in the maintenance of peace
ought certainly to be strengthened when we refer to
the repeated applications made by the government to
the money markets of Europe. In 1817, 1820,1822,
11832, 1833, and 1850, the Russian government has
been engaged in loan transactions, generally to a
Iconsiderable amount, in the markets of St. Peters-
I burg' London, Amsterdam, &c. ; and the debt of the
'nation must now amount to some 52,000,0001. ster-
ling. The existence, in addition, of a floating debt
of nearly half that amount, adds to the burden
on the treasury, and is at the same time in-
dicative of an irregular position of the na-
tional finances. It is to be apprehended that,
with a debt of this amount, contracted at rates suffi-
ciently onerous, and involving a large annual charge,
and with a treasury never particularly well filled, a
wsr would prove to the Russian autocrat that an im-
mense military force is of comparatively small use
unless funds are at hand to direct its movements.

The committee for the institution of tribunals of
commerce have just issued a statement in which they
draw attention to the position of the movement, and
earnestly invoke the liberality of the mercantile com-
munity. The utility of the objects contemplated by
this association is now admitted on all hands, and is
confirmed by the experience of the beneficial results
attendant on the operations of similar associations
on the Continent. The labours of the committee,
however, are spread over a very wide field, and they
are at the disadvantage of having to collect and
place in a condensed form a vast variety of details
drawn from the practical working of the continental
system. Under these circumstances the committee
find themselves compelled—as has happefled before
to many associations having reformatory objects in
view—to appeal for pecuniary support to all friends
of the cause who are desirous of seeing the mercan-
tile law and custom of Great Britain made just and
advantageous by being freed from legal delay and
costs. The well wishers of the movement are so
numerous and influential that we cannot doubt of
the required assistance being readily accorded.
A change has been made in the personnel of the
(Bankruptcy) Court of Mr. Commissioner Holroyd,
by the ret►rement from the post of official assignee
of Mr. Edward Edwards, owing to long-continued
indisposition. His son, Mr. E.W. Edwards, who
for the last ten years has satisfactorily discharged
the duties of the office, has been appointed his sue-
CCBSOT.

The bill of the East Indian Railway Company,
providing for new contracts with the Indian govern-
ment, by which the line of railway will be carried
to Delhi, and involving amalgamation with the
Upper India Railway Company, is being pushed ra-
pidly through the House of Commons with the sanc-
tion of government. The standing orders are dim-