The Express.
London, England, 1851-01-09 00:00:00

nfi

MONEY MARKET.

THIS DAY.

Two o'Cnocz.
There has been a good amount of business trans.
acted iu the English stock market to-day, notwith-
standing the circumstance that many operators held
back in the early part of the day, with a view to
await the result of the weekly meeting of the Bank
Board, though the opinion that any further change
would be made in the rates of the institution was
enterteieed by few. Prices to-day are well sustained,
and further purchases of Consols by the government
heeler have tended to impart additional firmness to
the market. Consols for the account opened at 1,110,,,
final quotatien of yesterday, 96 to ex d'v.,
and Ric), have since improved 1, to 961 to 1, at
which rate the market wears a shady aspect. For
money the range has been exactly the same, the
prices being marked 961,1, 1, and 1, 'successive'''.
Business is reported in the Reduced Threever
Cents. at 971, 1, and .1 the New Three-and-a-Quads..
per Cents., 981 99; Long Annuities, 1860, 7 1
1; ditto 30 years, 1859, 7 9 16. South Sea etock,• •
1071 ; do. New Annuities, 961.
Exchequer Bills were in more request this morn-
ing, and tee price improved la, but sellers have since
come forward. All sizes have changed hands at 605.,
635., and 39e. prem. India Bondi, 1,0001., mark 735.
and 775. prem.; do., under 1,0001, 78s. and 755.
The market for the foreign securities remains very
quiet, the business being of a trifling character, and
prices present scarcely the least change. The
list of actual operations is limited to the following,
viz. :-13razilian Old Bonde, small, 89; ditto New,
Five per Cents., 1829 and '33, 861. Dutch Four per
Cent. Certificates, 901. Grenada Deferrel 113ne5,4.
Nlexicaa Bonds, for the 13th must, 341; ditto small,
35. Peruvian Four-and-a-Half per Cents., 1849,
791. Russian Five per Cents., 1111 ; ditto Four•and-
a-Half per Cents., 96 ex div.; Spanish Three per
Cents.,3Bl ex div. Venezuela Deferred Bonds, 111.
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r

The subjoined calculations show the rate per cent.
per annum yielded by the various seturitits cited at
the average of the prices which ruled this day.
Where the asterisk l•) is placed it is to be under-
stood that the share rate of dividend is less the in-
come tax. It will be seen that in every case we take
the rate of dividend last declared as the basis of our
calculation :
Three per Cent Consols average price 96/ yield per cent. 83 2 0
Three per Cent. Reduced O7. 3 I f.
Three-and-a.QuArter per eellta4.
ed. 3 3 Si
Bank stock (die. 7 per cent per ann.) 213 3 3 1/
India Stock (die. Ini per cent. per an.) 2671 3 Is 5
Baellequer Inas (int. led. par day) the. pm. t, 3 4 31
Eastern Counties Shares *(halt-yeerly
div. 2s, pet sh. of 21.0., equal to I per
tent. per MIA
Great Western• ltull eh. (di.. et the

rate of 4 per wet per ro*.) .
ancarldre and lockable* 1100

Stock. (dlr. at the rate of 2 pa oat
per unc.)
London ft Booth Western* Stock (dir
at the rate of 3 per mot per ann ) 73
London and North V. taro.* Stock (die
at the rate of 3 per amt. per ann ) 121
311(1:and. S:oek (dlr. at the rate ef
11. 12. per a. per ann.) 4B
South Easton. Stuck (do. at the tats
of 3 per cent per ann.( 23 3 le 3
The Poat .111ap.sMe Almanac gives some informa-
tion on the statistics of the asaurancecompanite.
One feature in the )net year is the increase in esta-
blishments formed under the Friendly Societies Act,
as the Brighton and Sussex Fire, the Cathelic Guild,
the Church of England Schoolmasters, the F.eclesias-
tical, and the Governesses Benevolent. This shows
that the amendment of the law has enable d omit
mutual assurance institutions to be established on a
less onerous basis.

N 3 9 111

. .1 0 71

The number of offices which have ceased to exist is
15. Of these no less than:seven relate to marine assur-
ance, which is much to he regretted, and the more so
as it arises from legislative causes. Tnis bra, ch of
business is now a large one, and the opening for it
will be greater, as the relaxation of the navigation
laws produces effects in increasing English shipping,
and the res •rt of foreign shipping to our waters.
The duty on marine assurance is most prejudicial,
and causes a great deal of business to be dune abroad
in ports where there there are lees advantectes .11 to
capital, but where business is unshackled by
taxation, and by the restriction of joint stock
association. Of course, individual enterprise, as
in the case of the members of Lloyds',
operates to a considerable effect in this country, but
in the outports, where there is a less ccmtnand of
capital, there are great difficulties interposed to the
mutual insurance of ships, or to the get'ing together
the necessary capital for a joint stock company. To
compete effectually with cur foreign rivals, we must
have tie same freedom of competition, but reetilts un-
fortunately prove we have not. In any future ar-
rangement of this subject better administration of
the law and processes for recovering claims should not
be forgotten.
Among the 'Aces projected during the year, which
are 31 in number, are found an Estate Agent's Office,
a Landlord's Mutual Rent Odic?, a Railway Cattle
Assurance Company, and a company for guaranteeing
the administration of will&

On the wholo, the general state of the assurance
statistics in the last year seems setisfrctory. The
almanack gives the figures for seven years, showing
the result of the speculative period of 1815, which is
interesting :
companies Busimes
Projected. founded. owed. Amalgamated. Transferred.
1844 .. 8 .... 8 .... 11
1845 66 .... 32 0
1646 .. 30 .... 16 .... 10 ... . 0
1847 .. 28 .... 10 .... 5
1818 .. 17 .... 14 .... 13
1819 .. 13 .... 11 .... 19
1850 31 .... 21 .... 15
In 1845 and 1846, 95 companies were projected.
48 founded, and 10 ceased ; in 1849 and 1850, 44
companies were projected, 35 founded, and 31 or
nearly as many ceased. Amalgamations of com-
panies seem to have stopped, but the transfer of busi-
ness has been largely carried on, in which case ope-
rations have been brought to a close without inconve-
nience to the policy holders.
In seven years 115 assurance companies have been
founded, and 73 ceased, leaving the balance of increase
of companies only 42, or about six yearly. There is,
however, to be taken into account the number of 26
branch (Aces opened in the same time, and which is
to a certain extent a set off.

SNOLIEII FUN DS.—Tum Dot.
Mot Picek. 113 14 I 3 per Ct. Oar Aoo., 969 1
3 pee CL Ito& A. 971 i 3, per Cl+. 963 9
3 orit Ct. Oon. Anna. abut Maeda:pier Lino. 60s. to 63..
3.01111100 lil I N DEL
r 0-I.AllZ:abuell:t 7 1 per Ct. ()Madll 8,14. 17e 111
armada Deferred BAIL 4 1
31 per Cent.. 6 per i... Moa. 1148.. 343 31
p7Ct. 11maillan Debt 6 Qt. Znruirloo /ids.. 729 803
6 Ditto New. 86 8 *6B
88
PoliteU4l2o CJ..., 319 31
6pm CL Miaow Apra, 4461 6 kor CL Rom. 13 b.. 11 il2
Ditto Milan 8.11., 104 6 .11tto dimuloh 114... 17/ 2
Ditto Columb. Del. 6d.., 3 por Ct. Mptalsb iida.. 21.9
ColumLbui hiiitoolor Bd.. 39 9 Do. Dolorral lido..
3 per Ct. Danish lids.. Ts 8 Ditto Pamir* lids., 31 9
34 per LI. liukit BM., 671 81 14 P. Ct. Vommucht ii. 7.., 31 3
4pa 04 YMCA Cale.. I. 11 Yeassolin Dobirrou bomb. 11 12

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