The Express.
London, England, 1853-05-10 00:00:00

Exchequer Bills, though supported just above par,
are flat. The June issue was sold at par and Is.
prem., and closed Is. to 4s. prem. Tho March bills
are relatively a shade better, closing 2a. to as. prem.
At present this market is in a state of suspense,
pending the government advertisement of the Juno
Bills, which is expected to be issued almost imme-
diately, and thus the transactions aro very limited.
It is the general impression that in the present more
stringent position of the money market, either an in-
creased interest on the new bills must be conceded by
government, or there must be purchases on national
account to support the market. Some parties are
disposed to think the latter alternative the more
probable one. India Bondsmark 28s. to 325. prem.
Foreign stocks were steady in price, but very in-
animate. Peruvian Deferred Bonds wore, if any-
thing, a shade flatter, the conversion into an Active
Three per Cent. stock having been anticipated. Mexi-
can, Spanish, and other speculative stocks were un-
changed. At four o'clock Mexican Bonds were quoted
271- to f, ; Granada Active, 23 to 24 ; ditto Deterred,
11 to ; Peruvian Four-and-a-Half per Cent. Scrip,
3/ to 41 prem. • ditto Deferred Threes, 681 to ;
Spanish Deferred, 24 to / ; the Certificates, 61
to 61 per cent. Sales are thus recorded :—Belgian
Four-and-a-Half per Cents., 971, 981 ex div. Bra-
zilian Old Five per Cents., 100.1; ditto small, 101 ;
ditto Four-and-a-Half per Cents., I 00;, Dutch
Two-and-a-Half per Cents., 65, 661; ditto Four per
Cent. Certifs., 961, 1. Equador Bonds, 61. Greek
Bonds (Red), 9, 91, 94. Mexican Three per Cents.,
271. Peruvian Four-and-a-Half per Cents., 89 ;
dittto Deferred Three per Cents., for account, 17th
May, 681. Portuguese Four per Cents, 401. Rus-
sian Four-and-a-Half per Cents., 1041. Sardinian
Five per Cents., 98. Spanish Old Three per Cents.,
481. Swedish Four per Cent. Provincial Mortgage
Loan, 1 die.
The government contract with the Australian
Royal Mail Steam Navigation Company having been
annulled, the Postmaster-General has issued a for.
mal notice, inviting tenders for the conveyance of
mails to Australia by steamers or sailing vessels.
As the arrangements proposed are invested with con-
siderable public interest, we subjoin an extract from
the official notification :
The dates of despatch to be as follow, viz., the 4th
June, 4th August, 4th October, and 3rd December, of this
year, respectively, and the port of departure to be that of
London, Liverpool, Southampton, or Plymouth. The
Postmaster-General will be ready on Thursday, the 19th of
May, before 11 o'clock in the forenoon, to receive tendert,
fur ships to convey the mails of the 4th of June. Such
ships to be clawed A 1 at Lloyd's. The sum of 1,0001. will
be paid by the Postmeeter-General fur this voyage to Aus-
tralia, and persons tendering will be required to specify the
number of days in which they will undertake to deliver
the moils at their destination, subject to penalties for delay,
either in departure or arrival. Other things equal, the
preference will he given to that tender which specifies the
shortest time fur the service. Notices will appear shortly
with regard to the mails of August, October, and De-

cember.
It is to be regretted that the government, now
that it is unshackled by any contracts, should pro-
ceed on the shabby system of despatching a mail
direct from England once in two months only. It
is true there is an intermediate service through the
medium of the India mail and the Peninsular and
Oriental Steam Navigation Company, but our rela-
tions with Australia are now so important that the
expenditure of a few thousand pounds extra is a
mere trifle compared with the advantages derivable
from rapid and frequent communication with those
colonies. _ _ _

Considerable dissatisfaction is expressed at the
large amount of the deduction for expenses made by
the directors of the Woodford Railway Company on
returning the deposits to the shareholders. The de-
posit was 11., of which 9s. per share is announced as
having been expended. It is also objected that the
directors are acting very arbitrarily, as it is thought
they might at least have done the shareholders the
courtesy of inviting them to express their opinion as
to the course beat to be pursued under the circum-
stances. Cases of this kind are very likely to in-
crease the already prevalent disposition on the part
of the public to view with disfavour all new projects
for home lines of railway. The result goes clearly
to show the folly of giving large premiums for shares
in new home railway undertakings.
In answer to inquiries, it may be useful to mention
that the East India Company have given notice of a
reduction of !d. per rupee in tho rate at which they
will receive cash tbr bills drawn by them on their
Indian presidencies. It has been erroneously stated
that this reduction applies to the rate of interest on
India Bonds.
The subjoined is extracted from the New York
Courier and Enquirer •
It is announced that the Treasury department at Wash-
ington will avail itself forthwith of the act of Congress,
which authorises the purehase of U.S. Securities at their
market value. There is an unnecessarily large accumula-
tion of coin in the sub treasury, and the disbursement of
five or six millions will be a benefit to the whole country.
Australian Land shares were generally inactive.
Agriculturals closed rather more firmly, at 81 to 83.
South Australian Laud left off 46 to 48; and British
American Land, 76 to 78—the other stocks as in the
3 o'clock list. Australian Bank shares wore quiet.
Those of the Chartered Bank of India, Australia, and
China fell to 10s. prem., in consequence of the
doubts thrown upon the statements of this company
having obtained a charter. In other miscellaneous
shares there were very few dealings: Peninsular
and Oriental Steam shares have been done at 851 ;
and Provincial Bank of Ireland, new shares (101.
paid), at 181. Shares of the Grand Central Railway
of France closed 24 to 21 prem.; Grand Trunk of
Canada, Ito 1 prem.; Berlin Waterworks, to
to
prem.
From Hanover it is mentioned that the section of
the Hanoverian Southern Railway, from the capital
to Alfeld, a distance of about 33 English miles, was
op: ned on the 30th ult. This line, when completed,
will connect Hamburg, ria Hanover and Cassel, di-
rectly with Frankfort and South Western Germany.
It is stated that English capitalists have in view the
formation of several other lines of railway in this
part of Germany, but it is to be hoped that our mar-
ket will not bo oppressed with any more foreign
schemes of magnitude for the present.
Annexed are the latest reports from continental
hourses, as received by Mr. Reuter's telegraphic ex-
p ress :—A msterdain, Saturday: hutch Four per Cents.,
91 9-16; ditto Two and-a-Half per Cents.. 63 13-16 ;
Spanish Defarred Thrte per Cents., 24 1-16; the Cou-
pons, 6 11-16: Mexican New, 26.4 ; Portuguese New,
391; Austt iau Five per Cent. Metallics, 83 1-1 G to ;