The Express.
London, England, 1853-02-10 00:00:00

MONEY MARKET.

WIDNYSDAY EVENING.
The stock markets opened with a firm appearance
this morning, but on the receipt of intelligence by
telegraph of an insurrection having broken out at
Milan, considerable heaviness supervened. Later in
the day, however, the telegraphic advices from Paris
indicating that little effect had been produced on
that bourse by the news, operators regained confi-
dence, and there was a partial rally, the market finally
closing rather more firmly. Although it was stated
that the news was confirmed by despatches received
at the Foreign-office, there was no disposition to attach
much gravity to this revolutionary intelligence,
the presence of an overwhelming Austrian military
force in Northern Italy being considered sufficiently
decisive of the fate of any such movement. It is
rather considered that the disturbance referred to
may be the effect of some sudden ebullition of
popular discontent, which may soon subside, and may
very possibly have been to some extent provoked by
the military authorities for special purposes. It is
reported, however, that there have lately been sonic
considerable draughts from the Austrian army in
Italy, with a view to the formation of the large
corps of observation on the Montenegrin frontier.
The incident affords further illustration of the frail
nature of the tenure on which Austria holds so
many of her provinces, and is eminently cal-
culated to damp the ardour of those who rested
their hopes of an amelioration in the finan-
cial position of the empire on the antici-
pation of some approaching reduction of her vast mi-
litary force. In the railway market there were some
large purchases of Great estern shares early in the

morning, chicly by late speculative sellers, on the
rumour that the dividend will bo maintained. In
this market the oversold position of many of the
dealers affords support to prices, the investments
on account of the public having diminished during the
last few days.
Consols opened 99: to 1, fell to 99k, on the con-
tinental news, but finally left off 99 to 4 for money.
For the March account the contango was a shade
stiffer at 1-16 to k, which is indicative of no pressure
of stock for the settling. The Government broker
made his usual investment. The official business
report embraces : Three per Cent. Consols, for
money, 99!„ I, I, • ditto, for account, 991,
Three per Cents. Reduced, 1001, 100. Three-
and-a-Quarter per Centa., 1031, 4,, 103. Long An-
nuities, 1860, 6 i-16,'. South Sea Old Annuities,
991. Bank Stock, 224.
There is no change in the price of Exchequer
Bills, which remain quoted 508. to 345. prem. India
Bonds were more freely dealt in at 60s. to 635.

prem.
'there was no change of importance in the foreign
market, business in this department being dull, and
the feeling rather fiat. Spanish stocks were lather
worse, and Turkish scrip receded to 1 die. Bargains
were concluded as follows : Buenos Ayres Six
per Cents., 63. Dutch Two-and-a-Halt per Cents.,
85; ditto Four per Cent. Certificates, 971, 1,1,
.1.
Equador Bonds, 5:, 1. Granada Deferred, 111,
1. Mexican Three per Cents., 221. Sardinian Five
per Cents., 931, 94, 931. Spanish Old Three per
Cents., 47 ; ditto, New Deferred Three per Cents.,
221, 4 ' • the Committee's Certificates, 41 per cent.
Turkish Six per Cent. Scrip, 1 dia.
Letters received this afternoon from St. Peters-
burg, dated the Ist instant, report a further decline
in the exchange on Loudon, which is quoted 3S 13-16
to Id. At this rate shipments of gold from this
side are out of the question. Notwithstanding the '
cessation of gold shipments to Russia, however, there I
can be no doubt the Bank's stock must continue to
decrease until some of the Australian supplies come
in. We reported yesterday that the decrease to be
exhibited in the next return will be upwards of
300,0001., and the shipments this week aro quite suf-
ficient to warrant the conclusion that the succeeding
returns will show a further considerable diminution.
It is not considered probable, however, that the Bank
directors will make any further alteration in the
rate of discount immediately, although the future
adoption of the measure is not by any means impos-
sible.
The falling off lately noticed in the shipments of
specie by sailing vessels to Australia appears to have
been mainly induced by the approaching departure
of the Harbinger. This vessel is to take out about
300,0001. in coin, besides 60 passengers. We also
learn that the Lady Macnaghten has taken out
35,0001. for Port Philip. The shipments by the
Harbinger arc partly on account of the gold mining
companies and Australian Banks. A notice was
affixed at the Post-office to-day stating that the de-
parture of this vessel is postponed one day. She
will not leave Southamp'on till the 11th, and letters
will consequently be in time if posted in London to-
morrow (Thursday).
The dividend of the London and South Western
Railway Company was officially announced in the
Stock Exchange to-day as being at the rate of 4 per
cent. per annum, making 3 per cent. for the whole
year 1852. The surplus to be carried to credit of the
reserve is only 7471. This is precisely in accordance
with the anticipation expressed in the Express
of the let inst. The Midland dividend is also offi-
cially stated at the rate of 31 per cent. per annum,
making 3k per cent. for the year 1832. The surplus
in this case is 13,0001. It is confidently reported
that the directors of the Gloat Western Company
have finally decided upon maintaining the dividend
at 4 per cent. per annum for the past half-year.
The twelfth annual meeting of the proprietary of
the British Colonial Bank and Loan Company is to
be held at the London office, on the 16th inst. In
their report the directors state that, from the im-
proved state of New South \Vales since the last
annual meeting, the property of the company has
increased in value, and their rents are on the ad-
vance; and, from recent adviees received from their
manager, it appears that in every ease when any of
the company's leases have been renewed such re-
newal has been at an advance of 23 to 30 per cent.
on the former rental. In consequence of the resolu-
tion come to by the shareholders at the last meeting,
as to the equalisation of the British and Colonial
shares, the directors resolved to offer to the British
shareholders whose shares were paid in full 5 per
cent., in lieu of 6 per cent, heretofore paid them, on
21. 10s. per share; but as the holders of 267 shares
declined accepting the reduced rate of interest, the
directors determined to repay to them the amount
received beyond the eighth instalment, on their
signing an undertaking that the money should be
returned when the final call should be made. The
directors are of opinion that the time has arrived
when the final call should be made on the British
shareholders. They also state that during the past
year they have purchased on behalf of the company
150 more colonial shares, which transaction has
realised a profit of 3,6591. 18s., and has enabled them
to write off the whole of the loss incurred on the
sales of some of the unproductive property, besides
increasing the fund to meet other losses that may
occur. Ihe dividend recommended is at the rate of
5 per cent. on the 21. 10s. per share paid beyond the
eighth call, and 21 per cent, on the eighth calls paid
up on all the shares of the company. The directors
at the same time have drawn up a statement of the
land owned by the company, from which it appears
that they are proprietors (independent of the land
and houses which are held by them as mortgagees for
the payment of mortgages, amounting to 38,9641.
193. ld., yielding an annual interest of 2,9221. 7s. 6d.),
of about 20,000 acres of land in New South Wales, as
well as many valuable town allotments, houses,
wharves, and stores in the city of Sydney; and also
120 acres of land within two miles of Melbourne,
Victoria.

Australian Agriculturalehares were rather weaker,
closing 232 to 237. Ex the new shares, the price is
quoted 80 to 85. South Australian Land shares re-
ceded 21., and those of the Scottish Australian In-
vestment Company were also worse, leaving off only
to 11 prem. ex div., and ex. new. Bank of Aus-
tralasia shares were a shade better, but those of the
New Australian banks were not quite so well sup-
ported. There were also dealings in London and
County Bank shares at 303 ; Oriental Bank Corpora-
tion, 46 ; British American Land, 51 ; Royal Mail
Steam, 821. Ebro Canal shares are quoted 1 to 11
prem. ; Chiriqui Road, par to 3 prem.; French
South Eastern Railway, 1 dis to par ; Bank of Asia,
1 die to par ; London Bank of Australia and India,
die. to par.
Insurance shares this week have been quiet, but
Alliance Life and Indemnity Marine shares exhibit
an improvement. The present quotations of the
market are as follows :—Albion, 86; Alliance, 251,
' ditto, Marine, 55, ex dia, and bonus; Atlas, 21;
British Commercial, 7 ; Church of England, 31;
Clerical, Medical, and General, 20k; County, 120;
Crown, 171; Eagle, 7d ; Equity ani Law Life, 53;
English and Scotch Law Life, 31; European Life,
20; Family Endowment, 33; General, 53; Globe,
119 cx div.; Guardian, 61; Imperial Fire, 310;
ditto Life, 193; Indemnity Marine, 59; Law Fire,
43; Law Life, 50; Legal and General Life, 51;
London Fire, 283 ; London Ship, 283; Marine, 18;
Medical, Invalid, and General, 3; Minerva, 6;
Monarch, 11 ; National Loan Fund, 23, 3 ; National
Provincial, 13; Palladium Life, 3; Pelican, 45;
Phoenix, 173; Professional Life, 3 prem.; Provident
Life, 40 ; Rock Life, 8; Royal Exclan&ro, 235 ; Sun
Fire, 211; ditto Life, 55; Union, 220; United King-
dom, 41; Universal Life, 45; Victoria Life, 53.
The Equitable Reversionary Society's shares are
quoted 1173; General Reversionary and Investment,
100 ; London Reversionary, 15 ; Reversionary Inte-
rest Society, 106.
Of canal shares the latest Stock Exchange quota-
tions aro subjoined :—Ashton and Oldham, 135, 110;
Brecknoek and Abergarenny, 8234 Birmingham

*
(guaranteed 4 per cent. by the London - 4 Nor
Western Railway), 10.51; Derby, 63 ; Ellesrat re and
Chester, 354; Grand Junction, 60,1, ex div.; ditto,
Guaranteed Six per Cent. 12 ; Grand l'aion, 21 ;
Kennet and Avon, 7; ; Leeds and Liverpool, 550;
Leicester, G 6; Leicester and Northampton, 444;
Loughborough, 510; Macclesfield, 50; Oxford, 132;
Peak Forest, 70; Regents, 161 ex div. ; Rochdale,
42; Stafford and Worcester, 405; Stourbrige, 290;
Severn and Wye Canal and Railway, 24; Marwick,
and Birmingham, 40; Warwick and Napton, 28;
Worcester and Birmingham, 33; Wilts and Berks.,
7, 71. These prices show no change.
Shares in bridge associations command the forow-
ing prices ungerford,l2 ; Southwark New Seven-
and-a-Half per Cents., 16 ; Waterloo, 3;; ditto, Old
Annuities of 81., 241; ditto, Now, of 71., 22); Vaux-
hall, 21.
Prices of Gas and Coke Companies' shares range
as follows :—British Provincial 22j; Brighton, 16;
City of London, 125; Continental (Third Capital),
69; Equitable, 2G; Great Central, 144; Indepen-
dent, 46; London Parliamentary Preference, 25;
Plicer.ix, 27; United General, 213, 22 ex div.;
Westminster Chartered, 37f ex div.; ditto, New 6,1
ex die.

Waterworks stocks are thus quoted :—East Lon-
don, 124 i ; Grand Junction, G 9 ; Kent, 841; New
River Company, 60; Southwark and Vauxhall, 90;
West Middlesex, 111.
The Ass= Tea Company's shares are quoted in
the official list, 10; Auction Mart, 33; Canada Com-
pany, 5.5, 53 ex div. ; Electric Telegraph (A shares,
20/. paid), 22; ditto (II 7/. 10s. paid), 8; Hudson's
Bay stock, 220.
The quotations of stogies at Amsterdam on Tues-
day aro thus reported by Mr. Itcuter's telegraphic
express :—Dutch Fout• per Cents., 95,1 ; ditto Two-
and-a-Half pet Cents., 64 5-16. Spanish Deferred
Three per Cents., 2215-G. Mexican New, 231; Por-
tuguese New, 38 11-16. The Spanish Committee's
Certificates, 4 13-16 per cent. Spanish Old Three
per Cents. (English), 481. At Vienna, on Tuesday,
the Five per Cent. 3letallics were quoted 941, and
the exchange on London 10.52. Ihe same despatch
states that the reported favourable news from Monte-
negro has not been confirmed.

THIS DAY.—Two o'CLocx.
The English funds have presented a flatter appear-
ance tc-day, there being little disposition to operate.
Consols opened 091 to 4 for cash, the government
broker buying at ', but the market has since become
a shade worse, and the present quotation is only 90k
to for money, and 994 for the 10th March. The
Three per Cents. Reduced mark 100 to 1004; the
Three-and-a-Quarter per Cents., 103„ to 1113 ; Ex-
chequer Bills, 565., 575., and 53.. prem., being a rally.
Foreign stocks are also very dull, business being
limited, and prices present no change worthy of es-
pecial notice. Russian Fives mark 120 to # ; Gre-
nada Deferred, 11Z ; Dutch Fours, 97; to ; Swedish
Loan, 1 dis.; Turkish Scrip, y dis.; Australian
Scrip, 8 prem.