The Express.
London, England, 1853-08-11 00:00:00

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MONEY MARKET.

WEDNESDAY SYII7II/fO.
The English stock market today opened and closed
at yesterday's prices, after being temporarily main-
taintd, in the intervening period, at a slight advance•.
In the afternoon there was rather more disposition
amongst the speculators to sell fur the nest account,

on the continued uncerthinty of political affairs, and
the tightening tendency of the money market. At
the final e!osc, therefore, the tone was not strong •

but the market presented little distinctive feature.
The Stock Exchange has generally been devoid of
active business, and the variation of prices in each
department is slight. The Paris Bourse was reported
in the afternoon by telegraph as closing firm, and
tended to support the market.
Business was quiet in the Consol market, which
was chiefly occupied with the settlement of the ac-
count. The opening and closing price was 97-' to
for money and to-morrow •, but at one time the' quo-
tation was 974 to 98. The account seems nearly
balanced between operations for the rise and fall,
and the contango to the Bth September ruled at 1.16
to 1. The official business report embraces
Three per Cent. Consols, for money, 971,1, 98, 97;,1 ;
ditto, for account, I.lth August, 971, „I. Three
per Cent. Reduced, 98 1. Three-mid-a-Quarter per
Cents., 101, 1001, 101 k, 100:L, 101. Long Annuities,
1860, ; ditto, 30 years, 1860, 511-10. India
Stock, 2571. South Sea Stock, 115. Bank Stock,

2281.
Exchequer Bills were unchanged in price, at 2s.
dis. to Is. prem. India Bonds were about 26. lower,
being quoted 188. to 235. prem.
Foreign stocks were generally firm, but some
realisations of Russian were effected. Portuguese
was rather better, the Four per Cents. marking as
high as 44 cx div. Mexican maintains its late rally.
Business in this market was very inactive. At 4
o'clock, Mexican Bonds were quoted 261 to 4 ;
Peruvian Deferred, 57 to 59 ; Granada Active, 21 to
22; do., Deferred, 81 to 91; Spanish Deferred Threes,
24 to 1 ; the Certificates, 61 to 61 per cent. Sales are
thus recorded : Brazilian Four-and-a-Half per
Cent. Bonds. 1852, 100. Dutch Four per Cent.
Certificates, 981, 98. Equador Bonds, 5, .51. Por-
tuguese Four per Cents., 44, 43, 431 ez div. Rus-
sian Five per Cents., 1171, 114 ; ditto, Four-and-
a-Half per Cents., 1001. Spanish Old Three per
Cent., 471, : ditto New Deferred Three per Cents.,
231 ; the Passive Bonds, 51 ; the Committee's
Certificates, 6; per cent.
This was rather a quiet day in Lombard-street,
there not being any marked pressure for money.
Discussions continue relative to the probability of the
Bank of England making a further advance in its
rate of discount; but it was not generally appre-
hended that such a step is likely to be taken at the
weekly Board meeting of to-morrow (Thursday).
ofhe amount of specie taken out by the Tay, for
the Brazils, is 63,9601., besides jewellery valued at
about 13,000/. The Orinoco, which sailed last week
for the West Indies, took out 6,0381. in specie, and
1,3501. worth of quicksilver.
The 21st auction of the foreign redeemable debt of
Spain is fixed to take place at Madrid, on the 30th
inst., for which purpose 375,000 reels (3,7501.) have
been assigned by government. Tenders are to be re-
ceived in Loudon until the 20th.
In Mark-lane to-day trade was exceedingly quiet,
the weather being very favourable for the harvest,
and the supplies of corn to a fair extent. Prices,
however, appear to be nominally the same as on
Monday last. Floating cargoes are held very firmly,
and there are few offering on sale. The Liverpool
and Hull markets yesterday were lower for wheat,
with very little business doing.
Lard shares remain stationary in price. Austra-
lian Agricultural were last quoted 32i to 33! ; and
Scottish Austraiian Investment, 1 13-16 to 1 15-16
prem. Australian Bank shares were steady, and
those of the London Chartered Bank of Australia
and Union of Australia were better. Berlin Water-
works shares were quoted 1 die. to par. Crystal
Palace closed 11 to 11 prem. Netherlands Land
shares were firmer.
The accounts lately issued by the London and
North Western Railway Company have been can-
vassed with much interest, and the construction put
upon them is generally unfavourable. From an
analysis of the figures drawn up by a correspondent
who has devoted much attention to railway statistics,
some very interesting results arc deducible. • The
total revenue received in the first half of the present
year is 1,298,8547., against 1,196,072/. in that of 1852.
The increase is chiefly apprr. nt in the merchandise
receipts, which amount to 458,508/., against 390,993/.
in 1852. The receipts for passengers, parcels, mails,
&c., were 689,7471., against 668,800/. last year ; for
carriage of coal, 59,884!., against 50,9161.; for live
stock, 23,999/., against 25,568/. In the shape of in-
terest. on cash balances, &c., the company havo re-
ceived 10,793/., against 11,339/. last year ; for rents of
laud, buildings, a:c.,13,922/.,againat 11,9781.; for divi-
dendson investments,4l,49oe, against 33,922/. Turn ing
to the disbursements of the half-year, the charge for
maintenance of way is 52,467!., acainat 53,9631. in
the same half of last year; locomotive power,
172,0751., against 131,233/. ; coaching expenses,
69,3531., against 59,746/.; repairs in coaching de-
partment, 21,501/., against 22,720/.; police charges,
21,527!., against 19,7621.; merchandise expenses,
92,482!., against 80,314/. ; repairs of waggons,
26,2851., akainst 22,240/.• compensation, 7,937/.,
against 4,2031.; general Charges, 22,0231., against
21,0057.; law expenses, 4,637!., against 4,9101. ;
local taxes, 27,720/., against 22.369/. ; passenger
duty, 21,373/., against 23,4641. The charges for in-
terest on loans have cost the company 189,6401.,
against 187,160 e last year; debenture stock, 4,7591.,
against nil; chief rents, 4,456 e, against 4,386/. ; par-
liamentary charges, 10,0001., and the same last year ;
l'eterborough station, 2,000/., and the same last
year ; loss on North Union Railway, 1,079/.,
against 6,060!.; Preston and Wyre, loss 5,000/.,
and same last year; Buckinghamshire, loss 19,127 e,
against 14,331/.; Shropshire Union, lore 16,7701.
_ against 16,493/.; Stour Valley, loss 9,512/., against
10,462!.; ditto expenses, fail, against 2,5001.; Leeds
and Liverpool Canal, loss 1,3961., against 800/. ;
Manchester, Buxton, and Mallock, loss 1,293/.,
against nil. The charge for renewal funds being
21,3181. against 31,9e61. last year, the profit of the
half-year available for dividend is 469,673/. against
432,731/. The surplus standing over from the last
half-year beii''s 92,786/. against 182,176/. at the
same period of the previous leer, the sum applicable
for dividend is raised to 512.4591. agaiast 615,207/.
The dividend at 5 per cent. tor 1853 will absorb
533,1551., whilst that for 1852 at 5 per cent. swal-
lowed up 546,901/. The surplus standing to credit
of the company ou the 30th Jane, 1853, after pay-
ment of the dividend, is consequently only 29,303 e,
Against el surplus on tho 30th June, 1832.
Throwing into a summarised shape the results
deducible from the above figures, we tied the follow-
ing sum- n r.tr.or of 1653 as co:neared with 1852,
viz. : iuer.a.e iti passenger rscelt)t% 20,947/. ; in-
crease in goods rie:sipte, 67;51:-:.; increase iii coal

receipts, 8,9681. ' • increase in dividends on invc s;-
meets, 3,3681.; decrease of lass on North Union,
4,981/. ; decrease of loss on other lints, &c., 1,39;/.:
decrease of renewal funds, 13,6781. The sums
against 1853, as contrasted with 1832, may be thus
stated: increase in locomotive power, •10840!.; in-
crease of coaching expenses, 9,607/. ; increase in
merchandise expenses, 12,168/. ; increase in local
taxation, 5,331!.; increase in sundry charges,
3,7251. ; increase in debenture interest, 2,4604 ;
charge for dividend on debenture stock, 4,7391. ; in-
crease iu Duekinghamshire loss, 4,981/. ; decrease in
sundry receipts, 2161. The balance or increase in
profit for dividend is thus 36,9471.
It is interesting to notice that at Midsummer,
1833, as much as 533,1361. is required to pay a 3 per
cent. dividend, being at the rate of' 106,631/. per one
per cent. for the half-year; whilst at Midsummer,
1832, only 346,904/. was required to pay a 51 per
cent. dividend, or at the rate of only 99,4371. per one
per cent. for the half-year. This increapfn the sum
required to pay the same rate of dividend is attrileit-
able chiefly to the fact that, from and after the 30th
June, 1832, the quarter shares received ordinary
dividend instead of 4 per cent. interest.
We thus arrive at the following facts:—The in-
crease in gross revenue was 102,782. i., of which only
20,94 V. was derived from passenger traffic, and the
remainder almost entirely from the carria.c of rmr-
chandiso and coal. Tito exact increase in goods and
coal is 76,4831., and the increase in workieg expenses
73,6911. The increased proceeds from these two
branches are thus absorbed, leasing the increase iu
passengers receipts about the traffic profit of the hall-
year. The increase in preference charges amounts to
3,8.2.2/.; and as the additional interest or divi-
dends on investments amounts to LAN.,
these two items on opposite sides of the
account neutralise each other. The renewal funds
arc reduced from 34,996/. to 21,3181., a difference of
13,678/. It is objected by some that this seems irre-
concileable, as no less than 101;192/. has been bor-
rowed by revenue from capital fur the renewal of
works and stock, and the works and stock account
was in debt, on the 30th June last, nearly 300,0001.
The outlay of capital during the half ycer was
287,077/,

A notice has been issue d from the East India
House to the effect that a muting will be held on
Friday next "for the purpose of further considering
the bill now before parliament, entitled ' A bill to
provide for the government of India."
Advises from Alicante, dated the lat of August,
state :

All vessels bound to this coast from a British pert aro
subjected to three days' quarantine, in consequt nce of the
cholera morbus having broken out in Copenhagen, which
city being in constant communication with the United
Kingiom, has caused the Spanish authorities to take tho
present precautions.

Annexed are the latest reports from continental
bourses, as received by Mr. Reuter's express :
Amsterdam, Tuesday, closing prices:—Dutch Four
per Cents., 95 9-16 ; ditto Two-and-a-Hall per Cents.,
63 11-16 ; Spanish Deferred Three per Cents.,
23 7-16 ; the Certifs., 6 9-16 ; the Old Three
per Cent. Foreign, 471 ; Austrian Five rer Cent.
Metallic!, 82 15-16 ; Mexican New, 26 5-16 ; Granada
Deferred, 91 ; Equador, 41; Greek (Blue), 7 h
I'ortuguese, new, 39). Paris closing prices of
this day :—Four-and•a-Half per Cent. 11.-ntes,
104.40; ditto Three per Cents., 79.60. Bank
shares, '2,835.