The Express.
London, England, 1847-10-15 00:00:00

square the balance, to declare his position to the latter
at the earliest moment. To the creditor this is a con-'
venienee, as it affords him time to prepare his banker
with funds to meet the extra demands to which he is
liable from dishonoured cheques which might be
paid in, or monies reckoned upon. The debtor finds
his account in the early communication, by the more
liberal spirit in which consequently his creditor is dis-
posed to compromise with him. In the reverse case,
when early notice is not thus given, eo that the creditor
may not be subject to the embarrassment of meeting
unexpected defaults at the latest moment, the debtor tt
is more severely dealt with, even to forcing him upon 1,
the black board, and expulsion on cause shown from '
the Stock Exchange.
There has been no account for many years in which t,
both the money and speculative business has been so
heavy and extensive aa that now closed, beginning with 3,
the 26th of Aug. last. The extraordinary range of the
differences of values during the account, and therefore
of the amounts adjusted in its progress day by day,
with the mass of business' done expressly for, and only
to be arranged on the settlement day, can but be
faintly estimated by the fact, almost unprecedented
for a quarter of a century, that Consols, which
stood on the 31st of August at 881 as the highest price
for the account now concluded, were done to-day at
801, as the lowest. The difference is equal to 71 per
cent., but from this it is necessary to deduct the run-
ning interest of per ceat. for the half quar-
ter, which reduces it exactly to 7 per cent.
Although there have been reactions at various times
during the account, yet the general and decided ten-
dency has been almost invariably in a downward
direction of prices.
Prices ran wild to-day. Consols after business
hours yesterday were done as low as 81i. At that
quotation the first bargain was done this morning.
But they fell suddenly to 801 to 801 for money, as
the official broker for the Stock Exchange proceeded
to public gale from the commissioners' ~:pox of the
stock of parties who, having purchased, were unable
to take and pay for it. On the conclusion of these
operations the market recovered to 811 for money,
but left off rather worse at 81 tol for money, and 82
toy for the new account fixed for the 26th of No- •
vember. Reduced Threes, 80 to 4 ; Three-and-a-
Quarter per Cents., 81 to k •, Exchequer Bills, 255. to
20s. discount; India Bonds, 355. to 30s. discount;
Bank Stock. 178 to 181; India Stock, 220 to 24;
Long Annuities, 84- to 1.
The usual weekly meeting in the Bank parlour was
held this morning, but without the result expected,
and announced in some quarters, of an elevation of
the minimum rate of discount to 6 per cent. for the
shortest bill detee. The directors acted wisely in
avoiding to throw such a new element of confusion
into a panic-struck money market. An eminent
Hebrew capitalist firm were understood to have car-
ried over large amounts of stock, bought for to-day, ,
to the November account, paying for the accommoda-
tion at the rate of nine per cent. per annum. On the
other hand stock was freely bought, or taken in for
the November account by some eminent bankers and I
capitalists. One great banking house was said to
have purchased largely at the low prices for some of
the Scotch banks.

--SOirtefes;forced transactions took place in foreign
stocks for account of parties pressed for money to
meet their difficulties or differences in the funds.
Brazilian were done at 74, quoted lower at 74 to 6.
Mexican, 175 to 18. Russian, 1034 to 51. Spanish
Fives, 17 to 18. Dutch Two-and-a-Half per Cents.,
521 to 3; the Fours, 81 to 2. Belgian Four-and-a-
Half per Cents, 86 to 8.
The failure of Mr. Claggett, a house in the tobacco
trade, was publicly stated to-day, but has been more
privately known for some days past. This gentleman
was a partner in the American house, Warwick,
Claggett, and Co., of considerable repute at the time,
which became bankrupt in the eventful period of 1837
or 1838. The failure is understood to involve no very
serious amount.

ENGLISH FUNDS.
Bank Stock. 181 78 81 ex dlr. India Stock. =4/ 21 20
3 percent. Hod Ann.,BoB 7,1 / 1 80/ Indio Bonds. £l,OOO, 35 44
ex dlr. Ditto. under El,OOO, 30
3 per Ct. Cons. ADM, 81i 80/ it Conrols for Account, Nor. 2.
sot 11 IC/ If 2/ 1/ 21 2
New 3/ per Cent. Anna, 8118/ 1/ Er. Bill., £l,oeo, 2,1., 25 33 20 27
OH ex di.. 22 2
Le n% Anne, exp. Jan. 5, 1860 8/ Ditto,o ELOO. 15 23018 die.
Ditto, 30yrs., exp. Oct. 10. 18.58, 818 Ditto. Small, 1 46. for
Do. 30 years, exp. Jan. 5.1880 8116

11011111GN
5 per Ct. Brarillan Ronde. 74
$ per
1822 C.M. llntst,
72115 a New Hoods.
sad 1811
3 per Cent. Menlcao, 1846. 18 11 5
6 per Cent. lttudsa Benda, 1822,
5t..103k
5 per Cast. Spaniel, Bands Acct.,
Oct. 18. 173 16 17

FUNDS.
6 per C. SpetniA Pa Ore Bd. 311
3 per CeoL 5p411141 Bond. 3616
4447 Ceeski Ties. Bond. es 26
per Ct. Dutch E. 12 GolL, i
4 per Con. Dutch Cert.. 14i *1,2
Ifr t 49 Rumian KAM.
STOCKS ABROAD.

NICTHANGEB AND

Fee /enema
miler l;
. 7711 i F 1 76 U gib. —‘.
1 76 16 ' clews._
,'T-1.--
114 66 1 114 60 114 76 114 09 114 70
o
...1 91 so ..
Enebanga on London. 25 40 . .
Herm. Nom.
Heiden 5.1916........ I 98791 ll Hinder Rates 99
Do. 6, 1943 .... ... 98 Roman Loan ....
Do. 3 . , Tann= oda
Do. 11. .. I Hank
MA nolo, Oa. O.—Three per Contr.. 2613-16 for 50 der 951 7.16 cad ;
11re per Cent.. 171P0nt,.., 51 ; Boak of St. Ferdinand. 135 : Bak
of dt. Labelle, 124. idrchana on London. 44 rio 100th,
Barreme, Ote. 13.—Loan of 1040. 981 money : Ditto, 1841, 981 money;
Ditto, 1844,.911 money- Ditto. 1844, Two and a lia/f per Cant., 501
money ; City Loan, 1632. 991 money ; Dill.. 1643. 951 money; fipannh
Lkiuld., 1.34 bill. ; Hank of Belgium. 811 bills haehana on London,
73.71
ANTWIIIP, Oar. 13.—E/change on London. 25.80 ,774; : month.,
95.3)36.
AYSTIIDAN. Oer.l2.—Duteh Acton, Debt Twoond*Half pre Cent..
MI money, 541 hill. ; Three per Cent.. bri money, 66/ Mill; lour pa
Cat.. 9_41 money 653 Nil.; Amort. Synd. Fourende 17.1 f per Cente.l4
money, 94j bills, Com. Compsny, 1641 money, 1654 bill.; UM Indian
Loans. 851 money. &St bill, Exchange on London, is 17 : Ditto. Two
Month., 11 97 , Ditto. Hamburg. 355 D ; Ditto, Two Months, 35; Ditto,
Part. 56 75 ; Ditto Two Months, 56 25.
Hower an, Om 9.—Aurtrian Fh o per Cent.. 106; Bank Sharer.
Leoe ; heeds Eng. /.can 101 mono,. 1001 has; Flre_l_a Cent
Haab. Certif.. 1001 . let Serie. inacrip . 101; /lone and Co.. Third and
Foorth Serie. fbi ; Ditto. Cong.. 96 ; New Four per Cent , Hope and
Co., 68; fitolgilts. 87 ; Dutch Actual Debt. Two-andreHolf per Cent..
54: Poklah New Four par Cent. Leen. 80; Danbh Englida Loan, Three
E.Cootri.. C.l ; Fortutrumo Engine, jean, Four ler Cent.. 25:
lob New Fire per Cent., 121 bills. 12 mono ; Ditto Three Per
ta, 224 hlll.. V money.
HARLIN, Ocr. P.—tit. &bald. Sch. P2l billA 92 money :.174en.
16th., 891 WU; Busean Your per Cent. Mope). r.. 4 eau ,
li cto
fleicetite, 92j hill.; Berlin and Anhalt liallway..llsl , Berlin and ami
has, 1014 bill. ill.;
Be And Stettin. 1111 1.111. ; Cologne end Minden. 94
Money ; Ihuweidorf nod Elberfeld, 9S 1811.. Exams. on tondo..
three month. 615 j roomy.

?ARIL Orr. It.

3 per Ceuta ......!
3. Do,

4 D. ......,

M. LSORELLE'S STOPPAGE.—We kern from Brussels that
the creditors of M. Legrelle (whose failure we have already
announced) auembled on Tuesday lest at the Hotel de
Ville, under the presidency of M. Verhulst, the head sheriff
of the city. A resolution favourable to the granting •
delay of payment (sursia) wu unanimously agreed to.
If at the expiration of the term the beaker is able to resume
payments no further proceedings will be taken.