The Express.
London, England, 1853-02-12 00:00:00

MONEY MARKET.

FRIDAY EVENING.
The English stock market to-day was decidedly
better, and a more confident feeling prevailed
throughout the Stook Exchange. Consols opened 991
to 1, the government broker purchasing at the latter
fraction, but the closing price was 991 for money and
991 to a for the new account of the 10th March, at
which range the market wore a steady appearance.
The manifestation of a further upward tendency in
the foreign exchanges was referred to with satisfac-
tion, as the probability of any further movement on
the part of the Bank of England is thus diminished.
In the other home stocks, although business was not
extensive, the tendency was also in the direction of
investments. The of business list is as follows:
Three per Cent. Consols, for money, 991, " 1 ditto,
for account, 991,1, 1. Three per Cents. Reduced,
1001, 1, 100, }Three-and-a-Quarter per Cents.,
1031, 1, 'l, 1. ng Annuities, 1860, 61. India
Stock, 266. Bank Stock, 228, 227.
Exchequer Bills maintain yesterday's rally, being
quoted 525, to slst teis.e m. India Bonds were dealt
in at 655., 618.1
Foreign stocks were alsoifa'ther better, including`
Sardinian, Mexican, Grenadian and Dutch. Turkish
scrip maintains the late improvement, closing a to
prem. 'the transactions in this market continue
quiet. The rally in Mexican appears to be
owing to the existence of a considerable
" bear" account. Bargains are thus marked:—
Austrian Five per Cent. Bonds, 97 (exchange, 10f1.
per L.) Belgian Four-and-a-Half per Cent., 99 (ex-
change 25f.) Brazilian Old Five per Cents., 1021.
Buenos Ayres Six per Cents., 63. Dutch Four per
Cent. Certificates, 971, 1. ; ditto for account, Feb.
14, 98. Granada Deferredw Bonds, 111, 1,1. Mexi-
can Three per Cents., 231, 4, Peruvian Deferred
Three per Cents., 621. Russian Five per Cents.,
1201; ditto, Four-and-a-Halt per Cents., 1031. Sar-
dinian Five per Cents., 931, 911,94. Turkish Scrip,
lee 1 Prem.
The Spanish financial agent in London has issued
notice that the Board of Public Debt at Madrid will
on the 28th inst, proceed to the opening of the pro-
posals presented for the conversion of the Three per
Cent. Deferred Rente into consolidated, with the
same interest, 68,709,061 reale being now the amount
remaining oat of the 400,000,000 reals assigned for
the six months ending on the 31st of March next.
The holders of the bonds are notified that, as the
smallest bond of the Three per Cent. Consolidated
Rente is of 421. 10s. only, all fractions or sums
under that amount arising from theconversionwillnot
be allowed. The 15th auction of the foreign redeem-
able debt is also advertised to take place at Madrid
on the 29th inst., for which purpose 373,000 reale
have been assigned by the government. In each
case proposals aru to be received at the London
agency until the 19th.
Amongst the companies that have just issued
notice of their having made application to govern-
ment for a charter are the British and Colonial Smelt-
ing and Reduction Company; and the Australian
Direct Steam Navigation Company via Panama.
The accounts of the London and Blackwell Rail-
way Company for the half year show a profit of
17,970/. applicable to dividend, which will give a
dividend of 3s. per share clear of Income-tax, and
leave 1,1221. to be carried to credit of tho current
half year.
The Stock Exchange to-day was the scene of one
of those summary exhibitions of " Lynch law " to
which the members have from time to time signified
their practical adherence. A person, stated to be in
holy orders, who has been for some time operating
through various brokers upon fictitious pretence, and
unable to meet his differences, so that in each case
' his agents were heavy sufferers, was inveigled into
' the preebseb of the • house," instantly seized upon,
paraded conspicuously for the warning of the mem-
! hers, and, after being covered with flour, pelted with
rotten eggs and suffering other summary ill-usage,
was finally ejected from the building, where
he became the object of the jeers of a
' large crowd on his way along Old Broad-
street. In view of the fact that the mem-
, hers of the Stock Exchange are merely bound
' by considerations of honour in their dealings with
' each other and with their speculative clients, there
being, in most instances, no remedy trom a court of
law in case of any breach of faith, some parties up-
' hold the infliction of summary punishment on gross
and habitual offenders, on the plea, chiefly, of its act-
ing as a warning to others, but it would scarcely
appear that the plea is very happy, and generally the
practice is regarded with growing distaste amongst
the meet respectable members, as derogatory to the
influential
dignity of their important and institution.
The settlement of the account in the railway mar-
' ket commenced to-day, and was attended with a
considerable demand for stock, chiefly, it ie believed,
on account of the " bears." The rates of continua-
tion were generally very light, and on some descrip-
tions virtually nominal. Midland, however, was
more abundant, and carried a contango all day.
Lancashire and Yorkshire was scarce, and com-
' mantled 4 " backwardation," but, with this exception,
stock was easily borrowed. The subjoined exhibits
the terms on which the business connected with the
settling was generally arranged, viz. :

London and North Western, lenders to contango.
Great Western, even to 4 backwardation.
Midland, I to 3-16 contango.
East Lancashire, lenders to 1-32 contango.
Lancashire and Yorkshire, even toe backwards-
tion.

York and North Midland, 1-16 to 3-16 contango.
Berwicks, 1-32 to 3-32 contango.
Leeds Northern, 1-16 to k contango.
North British, lenders to 1.32 contango.
Great Northerns, even.
Dovers, 1-16 contango.
Caledonians. 1-16 contango.
North Staffords, lenders to 1-32 contango.
It i. evident that speculation fur a fall experienced
a great extension during the last fortnight, and
to-day, owing to the altered position of the account,
it is stated that some recent sellers reversed their
operations. The rise since this day week is very
marked. The reaction from the extreme depression
of last Friday to the closing rates of to-day in the
stocks that have lately embraced the bulk of specu-
lative operations is shown below:

.....o.
London and North Western 9 per cent.
Great Western
Midland
~
Lanc.shite and Yorkshire
York and North Midland
Caledonian 9i ••
Great Northern
Berwick 4 „

In tho French share market there was a scarcity of
stock for the settlement. Northerns commanded
Ito backwardution all day, and Lyons 1-16 to ;.
Strasbourgs continued more plenttful, and were
quoted lenders to 1-16 contango.
At the meeting of the Australian Agricultural
Company held to-day, for the purpose of confirming
the measures proposed by the directors, tho proceed-
ings were characterised by great unanimity, and the
requisite confirmation was given.
There was no movement of importance in miscel-
laneous stocks. Australian Agricultural reached
210, and closed 232 to 237. Bank of Australasia
were 10s. higher. There were also dealings in Lon-
don and Westminster Bank shares, at 36; East and
West India Docks, 166 ex. div.; Australasian Pacific
Mail Steam (6/. paid), 6; ; Australian Royal Mail
Steam (61. paid), 51; British American Land, 53,
65 ; North of Europe Steam (51. paid), 41; l'enin-
sular and Oriental Steam, 86 ; ditto (251. paid), 60;„
491 • Royal Mail Steam, 821.
The quotations of stocks at Amsterdam on Thurs-
day are thus reported by telegraphic express :
Dutch Four per Cents., 91,1 ; ditto, Two-and-a-Ralf
per Cents., 641. Spanish Deterred Three per
Cents., 22 13-16. Mexican New, 23 13-16. Por-
tuguese New, 381. The Spanish Committee's Certi-
ficates, 4 11.16 per cent. Spanish Old Three per
Cents. (English), 47/.