The Express.
London, England, 1846-09-05 00:00:00

COMMERCIAL 4- MARKETS.

MONEY MARKET & CITY INTELLIGENCE.
Quarter to Three o'Clock.—This, as usual at
this season, has been a dull day in the stock and share
markets. Ccnisols have been, without variation, 961 to 1,
for money, and 961 to 1 for tires. Reduced Threes, 961 to
1. Three-and-a-quartee per Cents., 981 to 1. Exchequer
Bills, 171 to 20s. premium. Bank Stock, 209 to 10. India
Stock, 269 to 261.
There was little doine in the foreign market, where the
limited dealings were almost all in Spahish and Mexican.
Both were fiat and in decline. Spanish Fires, 271 to 1;
the Threes, 39 to 1. Mexican. 264 to 4. For other foreign
securities the prices are given below.
The foreign exchanges yesterday were about the same as
last poet day, except Amsterdam, on which the rates were
On that city they were 12.64 to 7 ; on Roterdam 12.71 to 1 on
on Antwerp. 26.5 to 71 ; an Hamhurgh, 13.121 to 13; on
Frankfort, 1211 to 1 ; on Paris, 25.95 to 971 ; all at three
months.

Half-pose Two o'Clork.—The Bank of Eng-
land averages for the week ending the 29th ult., as compared
with those of the week preceding, show an increase of notes
issued, against coin and bullion purchased, of 221,9001
the average issue then being 291,875,890/. • an in-
crease of active circulation, then averaging 20,426,1301.,
of 278,1651. ; an increase of public deposits, then on
average 7,142,2121., of 299,210/. ; a decrease of " other"
deposits, then on average 9,161,8681., of 912,153/. ; a
decrease in " other" securities, then on average
12,396,4571. of 617,3671.; an increase of coin and
bullion; then on average 16,366,0681. of 189,4021.
There was a small decrease of seven day and other bills, as
also in the rest. The increase of the circulati in in activity
will be readily accounted for by the more considerable
decline in the amount of private or " other" deposits
withdrawn. Oa railway deposit account there can now
be but an insignificant amount remaining with the
the bank, and what is, or was, there would be in the shape
of the re-deposit of inconsiderable sums by railway boards,
awaiting eligible opportunities of putting out to interest, or
to be drawn out for current expenditure. So far as the
accountant-general, it may be concluded that no railway
funds are now left in his hands. The diminuation of
" other " securities, by which, on loans and bills due, so
much &mount of notes would re-enter the Bank, from whence
an equal sum was not paid out age'n upon fresh
securities of the same kind, would, combined with
the increase of note payments into the Bank
under the head of public deposits, contribute to the extent
to keep down that larger outflow of notes into active circula-
tion, which otherwise must have been the result of the mass
of private deposits withdrawn. The continued decline
in the average stock of " other " securities would seem to
imply that the Bank directors might be partially influenced
in the late redaction of the minimum interest rate by the
falling off in that profitable branch of their business, which
naturally went into channels where better terms could he
obtained than atthe former Bank rate of 3j per cent. No small
proportion of the decrease of bill and loan business, repre-
sented by those Tatum would, however, be owing in reality
to the greatly lessened want of accommodation in com-
mercial quartet', and the smaller quantity, therefore, of
bills and other mercantile values &snag in the general mar-
ket. The still swelling hoard of coin and bullion in the
Bank, of which upwards of nine millions may be said to be
almost profitless, like so much dead weight, for the time,
taken in conjunction with the less active business operations
indicated by the decrease in securities, can searcelyact other-
wise than prejudicially for a season upon the periodical balance
sheet of profit and loss, by which bank dividends are regu-
lated, and on which the rest, or accumulation hand, is de-
penleot for its progression. - •
ENGLISH FUNDB.--CLOSII91) VII rt.
Bank Stock. 209 10
J r -les. six
3 per I;
3 per Cent. 03c9Kgs, 1.