The Express.
London, England, 1847-12-16 00:00:00

MONEY MARI?Er.

WEDNESDAY EVENING.
Within the last few days the purchases of Reduced
Threes and Three-and-a-Quarter per Cents., in which
the dealings are for money, have been so much more
numerous than usual, and in the aggregate of such
an amount, as to have excited attention to the cir-
cumstance. From the relatively small quantities of
the separate transactions, there can now be no doubt
that the public have been the buyers, which comes in
confirmation of the observation which has been com-
monly made of late, that opinion out of doors is
much more favourable to the stability, and even the
progressive improvement, of public securities, than in
the Stock Exchange. It remains to be seen how far
this greater confidence in the firmness of the stock
market will be justified by the result ; but it may be
remarked that cossiderable sums are carried for em-
ployment into the funds at present, because of
the discouraging nature of trading pursuits gene-
rally, and the disinclination to incur the risk of em-
barking in any investments, temporary or otherwise,
which may be connected with, or dependent upon, in-
dustrial enterprise. At the actual high quotations of
stocks, or any advance upon them, it may be con-
fidently
expected, moreover, that the tide of invest-
ment will ere long turn into the railway channel,
where prices are more invitingly low.
Consols were done at 851 to-&.3, for the scoonnt,but
the quotations oscillated chiefly between 854 and 85!,
leaving off, as yesterday, 854 to The report of a
Belgian loan about to make its appearance, rendered
the market somewhat heavy towards the close of
business. The loan is understood to be required for
covering a deficit of revenue, as compared with ex-
penditure for the year, of about 30 millions of francs,
but the amount proposed to be raised is stated at 60
millions, the excess of which is to be devoted to
public works for the employment of the people,
more especially, perhaps, in drainage works,
and the encouragement of the linen manu-
facture in West Flanders, where the population
has long been suffering under severe distresa. This
financial operation is to be made according to report
in a 21 per cent. stock, so that if the object be to
realise the whole 60 millions in hard money, the loan,
calculating upon the price borne by the Dutch Two-
and-a-Half per Cents. at this time, must contemplate
an issue of such stock at a rough estimate of about
108 millions of francs nominally. It seems more pro-
bable, however, that the nominal amount of the loan
will be only the 60 millions, which would give about
33 millions money, or three millions (120,0001.) for
public works over and above covering the financial
deficit.
Reduced Threes left off 841 to sk. Three-and-a-
Quarter per Cents., 861 to 1. Bank Stock, 1861
to 81. Exchequer Bills. is. to 10s. pm. India
Bonds, 245. to 18s. discount. Long Annuities, 81
to 11-18.

Mexican Bonds were still in advance, though by
fractional proportions only. They were last quoted 181
to it, but the dealings were not of particular extent.
Sptui.i'sh Fives were called r; to f, ; the Threes, 284
to 9 ; Passive, 31 to I. Portuguese, 22 to 3. Dutch
Two-and-a-Half per Centa. were better at 55 to ;
the Fours, 844 to 5. A bargain in French Five per
Cent. Rental was done at 115 f. 75c. ; Exchange,
25f. 70c.

A dividend on the estate of Messrs. Coate]lain,
Sons, and Co., who intspendod payments some time
since, was paid to-day, of 7s. 6d. in the pound, and a
second dividend of 2s. 6d. in the pound is shortly
expected to be realised and paid, thus making 10s.
per pound in the course of a few months.
The inspectors appointed to the estate of Messrs.
Leaky, Alexander, and Co., ars understood to have a
considerable fund in hand, which they have invested
in Exchequer Bills. Further assets are expected to
be realised shortly, which will admit of a dividend
being declared in the course of next week of 2s. 6d.
in the pound.
The failure of Mr. John Marsland, a large cotton-
spinner, comes confirmed in the Manchester Courier
of to-day, as before referred to but not named in that
paper of last Saturday. The liabilities are stated at
58,0001., and ae the assets, if the concern were broken
up, did not promise to yield more thon 4s. to ss. in the
pound, the creditors agreed that the business should
be carried on under inspection, in the expectation
that thus the debts might eventually be paid off
in fall.

A meeting of the creditors of Messrs. Gates, Coates,
Bartlett, and Co., Scotch and Manchester warehouse-
men, was held at the offices of Messrs. Quilter,
Ball, Jay, and Croshie, to-day. A statement of
the affairs of this small estate Lid before them : the
liabilities were stated at 13,2.531., and the assets at no
more than 2,2051. After some discussion, in the
course of which it was acknowledged that the insol-
vents had kept their books in a complete and trades-
manlike manner, it was resolved that the concern
should go into the Court of Bankruptcy, as the assets
had been brought down to so small an amount. Some
dissatisfaction was expressed that suspension had not
been resorted to before affairs had arrived to that ex-
tremity.
A meeting of the creditors of Messrs. Leaf, Bar-
nett, Scot/Don, and Co., Manchester and Scotch ware-
honsemen, took place to-day at the Guildhall Coffee-
house ; Mr. Twentyman, of the firm of I3ennoch and
Twentyman, in the chair ; when a balance-sheet, Fe-
b 3, Messrs. Quilter, Ball, and Co., was laid
paredbefore them, and the committee appointed on a fcrmcr
occasion made their report. In the course of the pro-
ceedings a proposition was made and agreed upon of
• composition of 16s, in the inland, in equal instal-
ments at 3,6, and 9 months, the last instalment to be I
satisfactorily secured, with the stipulation that if the
condition of the security could not bo obtained, the
concern was to be wound up under inspection. Pro-
visionally, inspectors were appointed accordingly,
consisting of the chairman, Mr. D. Evans, and the
two other members of the before acting committee.
STATEMENT OF AFFAIRS OF LEAF, BARNETT, BCOTBON,
AND CO., NOV. TT.

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