The Express.
London, England, 1853-02-08 00:00:00

THIS DAY.—Two o'CLocw.

The gold mining shares to-day are firm, but there
is sow an almost total cessation of business in them.
There have been inquiries, however, for Port Philip
shares, which have improved to 1# premium.
Australian Agricultural shares are firm at yester-
day's rally, and South Australian Land have farther
improved to 514.

Closing thinness
go, attar.. Mums. rate telass don,
yesterday today
--- ---- - —.-- —„--
100,0 M 1 Alma Ptia ell ili Fm
100,00 D 1 4.. Anglo Calllamian
16,000 1 Australasian I 14 n,,
5e,400 1 Australia% 6 ii S
60,00 Australian Oxalic%
101,000 Australia& ProMuld
Otr.: so, Ara Marla. al; 4 ois
303,001 &rifle: Australian OW all Ipm
10,000 20 &ISA Iran
10,00 U Brazil.lail,,Des.atsl.pa. 144 34 4 4
6,001 10 Da. Command Culabs all 11 31
11,001 X Do. St. John UM Is 15 IS SO
limit I Calsoo's Creak. ...
mem 40 Oabro Copper
100,000 A Colonial bold
_.„ .. Coglapo l4 11 T
UMW St. Copper Minors of tag. all
0," 3 Do. Prat. 74 per sent. all —pea
70,00 Zags Australlaur,sper all Ili as
100,001 Great Nugget Vein all 34 3 pm 34
30,601 20 Gs, and al. 114 1 4
72,000 (hoed Dusty of Sadao all per 4pa
11.001 Grist Polgooth all 14 If as
130,00 r lake Bathurst all f 4 dis 1
60,00 Liberty
09,000 LaidonkOilitern. Gold
Quartz Crmblag C.o all f 4 dl.
100.000 Mariauita all 1 d par sMI 1 : all
30,010 1 Madmaiiith.Amaricas 9 41 41
lud,ovr New Oraaada
MOO 0, Noumea Mosdp
111,00. Poet Pblllp 1 11 1 sr 21 4
60.16 a Gnarls Rock all par fpm
10,00 A Rhymer, Iron ......
Ditto New _ ... .... 15
7,446 0 Santiago &Calm l4l 6 7 61
40,060 1 South Australian sit 4 001 pa
01,00 10 Tin Croft
43,111 11.2.111 Malted Maxima
70,1100 1 Waller
100,000 1 Wait Granada all 4 „
070,000 I Vise liaripcam all 1 dl. pm 1
log; 00 1 Tuba

MONEY MARKET.

MONDAY EVINING.

The rally in the English funds noticed at the close
of the past week, was well supported to-day, and
generally en improved feeling prevailed in the several
departments of the Stock Exchange, a general im-
pression appearing to exist that in the week now
closed prices have seen their lowest, unless some new
adverse circumstance should arise. There were some

influential purchases of Consols to-day, in continuation
of previous operations. More confidence has pre-
vailed since the news of the fall in the Russian ex-
changes, and we think we shall be correct in saying
that no more gold, at least no sums of any import-
ance, will be dispatched to that quarter ; whilst, on
the other hand, it is far from improbable
that we may receive back a considerable
portion of the amounts already shipped, on the open-
ing of the navigation. In the railway market con-
siderable buoyancy prevailed, some good purchases
being made both for this and next account, and the
" bears" continuing to evince eagerness to buy back.
In addition to this, stock hu been in demand for

Consols ruled firm to-day at 99: to. there being
scarcely a fractional variation throughout the day.
The coating° on Consols for March ranged at 1.16 to
4. The official business report is as follows: Three
per Cent. Consols, for money, 991 1, ; Ditto, for
account, 991 -1 ; Three per Cei;ta.ltdueed, 1001,
1; Three-and-a-Quarter per Cents., 1031, # ; Long
Annuities, 1860, 6 7-16; India Stock, 269; South
Sea Stock, 11l • Bank Stock, 2281.
Exchequer Bills remain at the depressed rates of
Saturday. The ruling quotation to-day was 60s. to
645. premium, with a preponderance of sellers.
Foreign stocks were generally better, especially
Spanish. Turkish scrip rallied to a dis. to par.
Mexican Bonds also closed better. Granada Defer-
red Bonds ascended to 124, upon the announcement
of the Darien Ship Canal project (noticed below.)
Business in this department was to a moderate extent
only: Austrian Old Five per Cent. Bonds, 861, (ex-
chan 106. per U.) Belgian Two-and-a-H fper Cent.,
ge 641 (exchange 26f.). Chilian Six per Cent., 107.
Danish Five per Gent., 108, 107 g.. Dutch Two-and-
a Half per Cent., 664, ; ditto Four per Cent- Cer-
tificates, 971, 98. Granada One-and-a half per Cent.
ex December, 1849, coupon, 211; ditto Deferred, 12,
FMexican Three per Cents., 221, a. Portuguse
our per Cent., 37 ex div. Russian Four-and-a•
Half per Cent., 1031, 104. Spanish Old Three per
Cents., 471, 4, # ; ditto New Deferred Three per
Cents., 23, 4, 221; the Committee's Certificates, 41,
41 per cent. Swedish Mortgage Loan, 11, 11 dis.
Turkish Scrip, 4, a din.
It was currently reported to-day that the directors
and auditors of the Great Western Railway Com-
pany are at Luse as to the dividend to be declared,
the latter recommending 3$ per cent., and the former
being averse to the reduction ; and it is stated that
the delay in the announcement of the half-yearly
meeting of the company is attributable to this cir-
lcomstance. Should it be true, as common report
states, that the directors cannot declare a 4 per cent.
dividend, without drawing upon the reserve, it is
difficult to see how any difference of opinion could
arise. The dividend now about to be declared is for
the best half of the year, and the reserve ought cer-
tainly to be kept intact, with a view to making up
an 7 future deficiency in the worst, or first half.
l'he amount of bills drawn by the East India
Company on their respective presidencies from the
24th ult. to the 7th inst., is as follows :
Rate of Exchange.
Bengal £24,240 4 8 2.. ld..per Company's
Madras 2,019 9 4 J Rupee.
Bombay

Total ..... .. £26,450 14 0
The project for the formation of a ship canal '
across the Isthmus of Darien, to which attention was 1
drawn in the Express of the 10t1, ult., was to-
day finally introduced into the market, under the
title of the Atlantic and Pacific Junction Company,
with a capital of fifteen millions sterling. Some
surprise has been expressed at the magnitude of the
capital, but this is more nominal than real. We un-
derstand that the question as to how the
project could be best brought forward in its preli-
minary shape has occupied the anxious attention of
the promoters, but after seeking a variety of counsels
on the subject they have come to the conclusion that,
owing to the impediments thrown in their way by
our onerous yet inefficient partnership laws, their
best plan was to bring it out under the Joint Stock
'ompanies Act, with a much larger nominal capital
than there is any probability will be required. In
accordance with the act, the deposit is limited to
10s. per cent., so that the amount to be raised now
is only 75,001., and even of this limited sum it is
stated that subscriptions have already been received
for a considerable proportion. This 75,0001, is to be
devoted to the accomplishment of a more detailed
survey of the site of the proposed canal;
to the conclusion of negotiations with the
Indians, parties of whom are at present
roaming over the district; to the attainment
of a further concession from the government of New
Granada, guaranteeing the canal to the company in
perpetuity, instead of for 99 years, as it at present
stands; and to other purposes, including the enlist.
meat of powerful domestic and foreign support. The
main object of the new surveys is to show that the
canal can be made for a sum far below the
12,000,0001. fixed in the engineers' estimate; as
these gentlemen state that in the imperfect surveys
as yet made they have in all cases adopted a maxi-
mum estimate for the works of every description,
and they. are strongly of opinion that on a closer
examination of the tract in question it will be found
such advantage can be taken of the formation of the
land that a very considerable reduction can
be made from the estimates hitherto put
forth. It would, of course, have been an
easy matter for the promoters of the project to
have raised the 75,0001., or such sum as might at
first have been required, privately amongst them-
selves, but this course would not have answered
their purpose, it being an object of great importance
' to identify publicly with the undertaking many of
our leading financial and commercial names, as the
preliminary operations of the company would thus
be invested with a degree of prestige otherwise un- ,
attainable. The promoters again, might have
adopted the course pursued by many other compa-
nies of late, and brought out the association,
in its preliminary shape, in a French dress,
under the law, en commandite, without the
slightest further liability, but it was felt to be
essential that this gigantic undertaking, projected as
it is in the greatest commercial community of the
world, should not forfeit the advantages
derivable from British protection, but should
be strictly in accordance with English acts
of parliament, even if such a course involved
the necessity of nominally fixing the capital at a
high figure, subject to subsequent reduction. It is
expressly understood, however, that the liability of
the aUottees is limited to the deposit of 10s. per
1001. share, and that until their consent shall have
been obtained in full, no actual commencement of
...

the works will be made, however favourable may be
the new and more extensive surveys about to be in-
stituted. In order still further to enlist the support

of influential parties who, in the present embryo
state of the undertaking, might feel uneasy at the
heavy amount of liability involved in the nominal
capital of the company, it is further provided
that all such shareholders as may be de-
sirous of withdrawing at any time will be
permitted to do so on sending in their
scrip for cancellation and forfeiting the de-
posit paid on the shares. In the event of its being
shown to the satisfaction of all the parties interested,
after the conclusion of the surveys, that the work
can be executed at a moderate expense, and that no
obstacle exists, we understand it enters into the
policy of the company to take measures calculated to
mecum cosmopolitan support. Direct representations
are to be made to the English government, and to
all the great commercial nations of the world, in-
cluding more especially the United States, France,
and Russia, with a view to securing not only protec-
tion to the canal, constructed as it will be for the ac-
commodation of the traffic of the whole globe, but
also to obtain a joint or partial guarantee of a mode-
rate fixed rate of interest upon the capital of the canal
whilst the work is in course of execution. Upon
this part of the project it is unnecessary at present
to enlarge, but it may be observed that iu view of the
Freat facts that our trade with Australia is increas-
ing in a ratio unparalleled in the annals of commerce ;
that the influx of population into those vast colonies
from all parts of the world is equally calculated to
excite astonishment; and that most of the new colo-
nists are not only connected with Great Britain by
language, by religion, and by the most intimate re-
lations of commerce, but are invested with additional
interest, owing to so many of them having in this
country a family and friendly circle, with whom con-

atant correspondence will be kept up, it ri clear that
the relations between Great Britain nr.d this mo-t
important of her colonies will in future inere.ee
so rapidly in magnitude and interest that the means
of ensuring rapid and efficient comntun lea t ion between
them will excite the greatest attenti at, and conse-
quently the promotion of the best route to the colo-
nies eta the Isthmus may become a point of even na-
tional importance. Letters from Australia, since the
experience of the inefficiency of !he strum navigation
hitherto attempted, speak in the most hopeful terms
of the proposed steam lines, via Panama, as calcu-
lated to effect a most important übbreviatiou of the
passage, even with the delays attendant upon tran-
shipment; and looking at the progress which steam
science is now making, there is every reason to be-
lieve that in a very short period the vo3 age between
Great Britain and Australia N% ill be pertormed by
this route within fifty days, or a month and a
half, instead of the tedious passages now noticed.
The advocates of the Darien routo have, in
any case, the advantage of an entire ab-
sence of political difficulties, the territory
in question being universally recognised as a part of
New Granada; whilst sufficient evidence of the cor-
dial support of the government of that republic is
found in the fact that her minister and consul in
London are both included in the list of provisional
directors. Considering the Twit benefits which must
necessarily accrue to New Granada should this mag-
nificent project be carried into execution, it cannot
afford ground for surprise that the Collbtl notion of a
ship canal through her territories should t,e warmly
supported by the government. In the influx of po-
pulation, labourers and immigrants, in the up-rising
o: rich and busy cities, and in the transformation of
the adjacent territory into a populated and fertile
district, the produce of which would he immediately
applied to the re-victualling of the fleets that would
dotty pass through the canal, there is the basis of a
vision of prosperity which the legislature of New
Granada might indeed glory in attempting to
realise.

Australian Agricultural shares rallied to-day,
leaving off 237 to 242. South Australian Land
were also considerably beter, closing 50 buyers,
after the official hours. The shares of the New
Australian Banks were also rather higher. In addl..
tion to these transactions we have to record dealings
in the following, viz.:—Bank of British North
America, 59, 60; London Bauk of Australia and
India (21. paid), 1), ; Oriental Baak Corporation, 451,
46 ; Londoa Docks, 128!, 1291 ez div.; Crystal
Palace, 5; Peninsular and Oriental Steam, 66i;
Scot►ish Australian Investment (11. paid), 21, I) cx
div. and ex new.

The quotations of steaks at Amsterdam on Sahib.
day are thus reported by Mr. Iteuter's telegraphic
express :—Dtitch Four per Cents., 931; ditto 1 wo-
and-a-lialf per Cents., 64 3-16. Spanish Deferred
Three per Cents., 23„. Mexican New, 231. Por-
tuguese New, 38 9-16. The Spanish Committee's
Certificates, 13-16 per cent.
The subjoined calculations show the rate per cent.
per annum yielded by our government stocks at
present prices. To render the results strictly accu-
rate, the proportion of interest which may have ac-
crued since last dividend period should in each case
be taken into account. It should also bo remem-
bered that the Three-and-a-Quarter per Cent. be-
comes a Three per Cent. Stock in 1834.

Irt. per cent.
par annum.
11 0 31
2 IV Iu
3 3 1

Priee.
Three per Cent. Consols
Three per Cent. Reduoel lout
New Three.and-a.Quarter Centa
Bank Stock (dint' ed calculate.; at the
rate f7i per cent. per annum)
India Stocki(d)y. at the rate of 10! per
cont. per annual
Exchequer Bills. March (int lid. per
tent. per day) sls. am. 24 '1
Tho publication of our weekly statement, showing
the rate of interest yielded by railway stocks at pre-
sent prices is suspended until the dividends for the
last half-year are announced, as otherwise a tutus
idea of the comparativo value of railway property
may be induced.

2211 3 5 5

273 3 16 II