The Express.
London, England, 1853-02-16 00:00:00

ii. austmdan Lentil
i Van Diemen's Land

I tikotr.lin
14. Brit. Aut.
_

ISO 240
11 ll P
1u
4 i sr

ii ii

JOINT STOCK BANKS.

2+zaP
47a

Llusllgg 11,1•108••
No. !hare. ZAPS*. Paid prises done
yesterday. to.d.y.
——
11,300 40 tustralnda
40.000 13 clout,. Bank of Aida 4
30,000 SO Chart Bank of India,
Montana, and China 11 pea 3
13,000 II enthah, acanthi, sad
Australian Chartered 4 IS 1I Pm
33,000 II In Bank of Aus-
tralia and India . dl.
23,000 17 L-n.lon Ch.rterad Bank
of Angralta
10,400 0 Itor4l Annual. Rankine
and Gold Import. Co. 1
0,000 13 .to ntt natralta
20,000 13 Caton 07 Australia
11,000 IUo. New...„ l4 7k 1

MINES.

TOZSDAT EVIIIING.

There has been a steady business ioini to-day in
English mining stocks, and prices are firm. We
hear of sales in Wheal Basset, at 590, 000; United
Mines, 375; Comford, 00, 65; Trelawney, 60;
West Providence, 54, 55; West Damsel, 113; Pen-
rGelli, 271; Tremsyne, 27 Alfred Consols, 161 ;
Herodsfoot, 101 ; Mendip Hills, 71; Bedford United,
10, ; South Tamar, 7 • Hingston Downs, 5, ;
Tamar Consols, 51, z; lhakewalls, 41, 5 ; Tokenbnry,
41, ; St. Day United, 2 prem.; Tavey Consols, 51;
Clive, 4i ; Wheal Guskus, 11 ; Linares, 111,1, 12.
The gold mining shares are firm, and generally
show an upward tendency, but there is not a large
business doing.
Cobre shares showed weakness, but subsequently
rallied.

The non-official quotations are : Peel River Land
and Mineral, 81 to 91 prem.; Australian Mutual, /
to I prem. ; Australian Consols, . to I prem.;
Adelaide Land and Gold, 1 dia. to par; Australasian
Coal Company, to 1 prom.; Melbourne Gold, 1, 3
per share; Monarch, par to k prem.; Lewis Rill
Range, a to / dim; Chartered Australian Land and.
Mining, to dia. ; Burns' Creek Gold, 1- die. to par;
Golden Mountain, / to 1 dis.; Garnett and Moseley,
par to 3 prem.; L'Aigle d'Or, per to prem.;
La Pernvieane, par to prem. ; Gladbach Zinc, 2
prem.; Pontgibaud Silver Lead, par to 1 prem.;
Sulphate of Barytes, dis.to par; Jamaica Copper,
1 to prem. ; Port Royal and St. Andrew's Copper,
171 to prem. ; Portland Iron, to prem. ; Con-
nemara, to prem.; Kenmare, a to / prem. ;
Carberry West, par to prem.; Olenaulin, din.
to a prem. ; Mizen Read, par to a prem. ; South
Cork Copper, par to prem.

THIS DAY—Two o'CLoax.

The gold mining shares have been firm to-day, bat
the transactions are scattered, and there is conse-
quently no marked improvement in any description.
Australian Agricultural shares are a shade better,
marking 240. South Australian Land are very firm,
with transactions at 574 to 58.

.. ____ ___ . . -
osing 16 ,um
g.. Stare. Mom Paid prism dons
yesterday. to-eta,.
100.000 1 &Pus Fria all 1 1 pm 11
210,000 1 Anglo Australia Gold ail par Ipm 11
1110,006 104. ansrlo Calliorsleas
10,000 10 Auetralashus 1 11 24
20,000 30 Australian 5 3 0
10,001 1 Australian Cordillera
100,000 1 Australian freehold
5%000 1 Ave Maria. all ais par
2..0.000 I Srltlat Australian Gold all 4pml j 1
20,000 10 British Iron
10,000 U Ilraslthap,(lsaatUrs 244 16 41
6,000 SO De.Coesesand Galata all If 14
DOM 10 Do. IL Jolts Del Ms; 13 19 SO
110,000 I Canon% Creek
tii Par 4Pm I
12,001 44 Cobra Oopw
100,000 9 Colonial Gold
, GetliaPo l4
11305.01 St Copper Miura of rag. all
2,000 ,15 Do. Prot 74 percent all —pm
70,00 i. 6 EasteAustralialiOappor all 4 11 at
100,050 1 Great Nugget Vein—. all 31 SI pm
10,90 e 10 Ger eral all 144 151
72,000 Grand Duchy of lodes all par 1 pin 1 1
11.010 Groat P01g005h...... . all 14 11 pm
100.000 Lake ilatturst. ..... „ all 1 4 dls
00,094 Liberty
50,000 LoadoriSCallfern. Gold
Quara Crushing Co all 1 1 dip
100,1100 Marlquita all 1 dis 1 pm / 1
10 000 1 Maxlcatiadtt.Amerksim 9 41 51
104040 New Granada . . .... „ all 14 pm
. Nouveau Moab .....
150,000 Part Pktlp 1 11 11 pm 21 1
0,00 Quirt: Rock all par Ipm I
10,001 5 Ithyriney Iron all 21 24
... Ditto New l5
1.,;12 SO Santiago de Oats
50,400 1 SOlllb Allllll//iiII all par 4pm
0.031 10 fla CrOlt
43.'74 Milli Ualte4 Rexicaa
2 70,000 1 Waller
100,000 I West Granada all 1,, 11
100,600 1 Wear Marlpoos. all pm
100,00 1 Tabu .„. all Ipm 1 1

re regret
Km., of

DEATH or SIR THOMAS BRANCKER.-
to announce the death of Sir Thomas Smucker,
Mount Pleasant, Liverpool, which melancholy o
took place on Sunday afternoon. Deceased filled the office
of Mayor of Liverpool in the year 1831, and on the coro-
nation of King William and Queen Adelaide in that year,
receiveil the honour of knighthood. He was a conservative
in politics, and propeevd Mr. Cardwell in 1847. At the
meeting of the Town Council of Liverpool, on Monday,
his death was very feelingly alluded to by the Mayor, and a
motion to send a letter of condolence to his family passed.
CITY SEWERS COMMISSION.—Yesterday a court
was held, Sir James Duke, M.P., in the chair. The meet-
ing was numerously intended. in consequence of this being
the first court under the new commission. A variety of
public business was done, but *toot of it was of a purely offi-
cial character, the reports of tho inspectors showing no fact
of immediate public importance, except that of Mr. Morti
mer, the inspector of the north middle district, who stated
that he regretted to report a very serious accident which
had occurred to one of Mr. Chadwick's (tbe City paviour)
men, employed in preparing for the repavement of London-
wall, by the falling from a crane of a package of wool upon
him, the weight of which was at least three hundred-
weight. The premises where this occurrence took place it
was shown belonged to Messrs. Gooch and Cousens, wool-
brokers. The inspector was of opinion that the accident
was occasioned through want of proper precaution, no
rings being used in aduition to the hooks attached to the
head of the ram. This not being the first accident of the
kind, the Inspector very properly suggested that in every
instance—even in the removal of the goods from floor to
floor—that such precautions should be taken by the proprie-
tors for the safety of the public. The court made no order
upon the subject, because of their alleged want of power ;
it being considered sufficient that the public would have
due notice through the fact being published in the usual
report of their proceedings in the newspaper.. After some
conversation with regard to intramural interments, merely
of a preliminary character, the officer of health was re-
appointed unanimously, and the proceedings terminated.

. MONEY MARKET.

Tr ISDAT EVESINO..

The Stock Exchange and monied men grneiully
were taken a good deal by surprise by the announce-
ment issued this morning of a reduction in the rate
of interest upon Exchequer Bills falling due in
March to hi. per day. Business in the Exchequer
Bill market has bee; quite paralysed in consequence,
and not a single price is efficiently marked in them.
At the commencement of business the price of the
new issue was quoted about 30s. to 435. prem., an
extravagantly wide margin, and we hear of transac-
tions in the course of the day at 30s. mini. between
brokers, being a reduction of 225. to 235. prem. from
yesterday's range, but in the afternoon the dealers
positively refused to deal at all, and no quotation could
be obtained, the market for these securities finally leav-
ing:off with a very unsettled appearance. In view of the
well-known fact that the money market is stiff,ming,
the announcement has excited great discussion. To-
day, for instance, money was decidedly tight, dis-
count being unobtainable on first-class paper below
3 per cent., the Bank minimum. At the discount
houses and elsewhere money on call readily CJM-
mands 21 and even 21 per cent., and it is naturally
asked, tan the government manage to float sonic
nine millions sterling of Exchequer Bills at Id. per
amt. per day, equivalent to only U. 10s. sd. per
sent. per annum? At 30s. prem. the new issue
would represent a net annual yield of 11. 9s. Ild. per
eat. only. Under these circumstances the step of
the government is by many parties considered pecu-
liarly ill-timed, as the rate of interest on Ex-
chequer Bills is always determined by the posi-
tion of the money market, and the present
proceeding is, consequently, considered a depar-
ture from precedent. At the same time those
who had been looking for a tighter money market
have been rather startled in their belief, as the pre-
sent measure is strongly indicative of a settled con-
viction on the part of the government that the pre-
sent tightness is merely temporary, and that the
future position of the money market is likely to be
much more easy. Still reference is made to the ac-
tivity of our trade, and more especially to the im-
mense impetus that has been given to business with
Australia, and it is asked, with these influences at
work, and with higher prices ruling for many com-
modities, can we expect money to rule easier than 3
per cent. while the arrivals from Australia are so
uncertain ? It is to be borne in mind, however, that
the amount of capital afloat and seeking employment
at the higher rates now current is very large, and
that the demand for accommodation must,
therefore. be very extensive to maintain
the money market permanently at the present rates.
The reduction in interest is clearly advantageous to
the public; as, supposing nine millions sterling of
these Exchequer Bills to be afloat, the saving
effected by the new rate would be at the rate of
about 64,0001. per annum ; but it admits of doubt if the
government in takioglhis bold step, upon which they
did not dare to venture in June last, have not rather
. .

miscalculated the position of the market, in their
anxiety not to let slip an opportunity which (in the
case of the March bills) will not present itself again
till the expiration of a twelvemonth. It must be re-
membered, however, that the financial resources now
at the disposal of government are extraordinarily
large; and that, exclusive of the sinking fund, which
would certainly be turned to the sup-
port of the measure, if requisite, they can
fall back upon other means calculated to
afford them great support. Upon the whole,
whilst persons of experience in monetary matters arc
greatly puzzled at the step, there is yet a belief that
government will succeed in carrying their point. It
must not be forgotten that a large mass of Exchequer
Mlle, bearing, indeed, no insignificant proportion to
the whole amount of these securities issued, is on all

occasions held by bankers and others to whom the
possession of a security immediately negotiable, even
if it bears only a trilling rate of interest, is a point of
great importance. The effect of the announcement
upon- the stock markets has been peculiarly favour-
able, as it must certainly drive many holders of Ex-
chequer Bills into the funds, which, producing 3 per
cent. interest, are in this respect doubly as profitable
to hold as the new issue of Exchequer Bills. Of
course the drawback in this case is the absence of
the comparative freedom from fluctuation enjoyed
under ordinary circumstances by the latter secu-
rities.

Consols opened 994 to 1 for money, and account,
and after receding again to 991 to 3, finally closed
with a firm appearance at 991 to I for time, being
the highest price of the day. Business in our home
funds was rather more active. The government
broker re-appeared as a purchaser, but altered his in-
vestment to South Sea Old Annuities. The official
report is as follows :—Three per Cent. Consols, for
money,994,' 1, y• ' ditto for account, 99,4, 4, Three
per Cents. Reduced, 1001, '. Three-and-a-Quarter
per Cents., 1031, 4,1, 4. ozing Annuities, 1860, 6i.
India Stock, 269, 266. South Sea Old Annuities,
991. Bank Stock, 2273, 228.
The foreign stock market is firmer, but very in-
active. Nothing was done in Turkish Scrip, which
is quoted 4 to 1 prem. Sales are thus marked :
Austrian Five per Cent. Bonds, 1632, 981, 973.
Brazilian Old Five par Cent. Small Bonds, 1021;
ditto Five per Cent., 1829 and '39, 1021. Equador
Bonds, 31, I. Granada Deferred, 11L, 1. Mexican
Three per *Cents., 231, 4. Peruvian Six per Cents.,
104. Portuguese Four per Cents., 384, 38. Sardi-
nian Five per Cents. 914. Spanish Old Three per
Cents., 474; ditto, Passive (Converted), 31.
It is estimated that the next return of the Bank of
England will show a decrease of less than 300,0001.
in the stock of bullion, and a large decrease in the
"other," or private securities.
The first half-yearly meeting of the shareholders
of the Victoria London Dock Company was held to-
day, when a report was presented by the directors,
detailing the progress made in the undertaking. The
proceedings are noticed elsewhere.
At Amsterdam on Monday, there was to change
in the prices of funds, except for the Spanish Com-
mittee's Certificates, which improved to 44 per cent.
At Vienna on Monday, thence. per Cent. Metallics
were quoted 94 3-16; and the Exchange on London,
10.50.

At this, the 6th day of the indigo sales, the bid-
ding. continued brisk at 3d. to 4d. advance for ordi-
nary and low consumers, and 4d. to 7d. for middling,
good, and fine Bengal.. The number of chests now
passed is 6,396, of which 650 have been withdrawn,
and 1,683 bought in, leaving 4,063 chests sold.
The shares of the Union Bank of Australia rose 11.
to-day, and generally the shares of all the Australian
banks, old and newly. established, are in demand.
There was a further rue of about 31. in South Austra-
lian Land shares. Australian Agricultural closed 235
to 240; ditto, ex New, 85 to 90. There were deal-
ings in London Joint Stock Bank shares at 201 andl
21 ; Royal Australian Banking and Gold Importing,'
14 ; British American Land, 54 ; Crystal Palace of
France (21. paid). 21; Peninsular and Oriental
Steam, 83. Ebro Canal shares are quoted 14 to 11
prem.; Royal Swedish Railway, to ; dis.; French
South Eastern Railway, 3 dis. to par ; Bank of
Asia, # to 1 dis. ; London Bank of Australia and
India, I to I dis.; Carmarthen and Cardigan Rail-

,
way, prem.
Monday next, the 21st inst., has been appointed
special settling day for the shares of the Australian
Agricultural Company, cx the Peel River shares,
and also for the Australian Agricultural shares com-
bining Peel River shares. The committee have de-
cided, however, that "on the delivery of the latter
the buyer shall have the right to deduct fro:n the
seller 141. per share on the number of Peel ltiver
shares, to which the buyer is entitled, until the day
which the committee alien appoint for the settlement
of those shares." The committee have also resolves],
that on and after the 21st February, the Australian
Agricultural shares shall be quoted " ex-Peel River
shares." _ .

In the market for foreign exchanges to-day the
transactions were limited, and, generally, the ten-
dency of prices was slightly, but steadily, more

[THREEPENCE.

favourable to this country. The exception was in
Austrian paper, which realised lower prices, eouse-
Tient upon the receipt of reduced rates by telegraph
from Vienna. Short bills on Paris were quoted a
shade higher, but three mouths' drafts remain as be-
fore, and, altogether, this exchange may almost be
said to maintain the stationary appearance noticed
for several pasts. Hamburg was again rather
higher, being done at 13.7/ to j, with generally a
good demand at the latter 'figure. Thu rise in this
exchange is in sonic degree traceable to the reduc-
tion lately established in the price of silver. Frank-
fort was offered at 1192 to 120, being alsl an ad-
vance. Our usual broker's list is annexed:
Time. Prhs. aa negotiate, IM. day.
Bill. and IL 13. I.ey.
Mmterdem per g Short 113. IC rte.... 174.0.,
Ditto
Sistf!rdam
&Muni.
Brumes .....
Itsmetug and Altonn „ Limes. 14.1.1. :344c.. 74 eds.
St. Betersbura . pir
Lute izt,bl;
w‘,4ort 3411,ne. n. r! tSsrristr.
Ditto „ 3 Mouths: Wt. 27;c. .., 25D.
latureillea 2slr. 50e. _ 231 r. 314 e.
Frankfurt-no.the.3l.mc I.re £lO „ 119/ 3. ~. 11. a. k,
V;enns (effective) per g „ I 111. Oar. ... 113. sv.
Trotte ........... „ 113. 3tr. Ile. 6.r.
Madrid pc dollar „ serum srl pence
lUdis
Bilbao
..... ~ 501 pence ... 30. pence
ligngs „ pence ... 50 pence.
Srvihe e— penesNßC,
Gibraltar ..... pence ... 6u pen*.
LeldierS ....... „ 301 r. We. 30Ir. 43..
Genoa
Naples ter ducat. „ 41f mute 411 ;can
Miens* 1,;:. suss* „ 1444 prnoe pose.
Menem „ „ 124 k pence ... 1344 pence
1.1.30 u per till:rem 90 days date tuner .. 334 ;matte
°Porta „ „ pence ... SSI news