The Express.
London, England, 1853-09-15 00:00:00

MONEY MARKET.

WEDNESDAY EVIXISCI.
The intelligence of the rejection of the modified
'note of the Four Powers by the Emperor of Russia,
coming upon an already greatly depressed market,
produced a great sensation in the Stock Exchange at
the commencement of business this morning, and
prices throughout the house were quoted at unusually
wide margins, and at a great reduction from yester-
day's rates. Purchases by "bears," however, who
I were tempted by the fall to realise profits, afforded
some degree of support ; but at the close the markets
were flat throughout, the funds showing a fall of
per cent. from the closing rates of yesterday, and
railway stocks an average reduction of 2 to 3 per
oent.

Consols, previous to the official opening of busi-
ness, were offered at 931, and considerable sales were
made at 934, but thepiarket speedily rallied on "bear "
Ibuying. The first official quotation was 931 to for
account, and there were soon afterwards buyers at
951. A relapse subsequently took place, and at the
official close the quotation Ns as 93: to 1 for money,
and 95: to for the 13th October. At four o'clock
the tone was a shade flatter again, with the price for
time standing at 931 to 4. The official business
list reports as follows :—Three per Cent. Consols,
for money, 951, 3, ; ditto for account, 13th
October, 951, 1,1, 1; Three per Cent. Annuities,
1726, 991.
Exchequer Bills mark 3s. die. to par, and India
Bonds 2s. prem.
Foreign stocks have experienced a general fall,
and quotations rule very wide. Peruvian, Russian,
and Spanish seem to have suffered most severely ;
but all descriptions were extremely heavy, and of
some of the speculative securities sales can be with
difficulty effected. At 4 o'clock Mexican Bonds
were quoted 24 to ; Spanish Deferred, 211 to 221;
the Committee's Certificates, 51 to per cent. The
list of sales includes : Dutch Four per Cent.
Certificates, 971, 1, 1. Equador Bonds, 41. Gra-
nada Deferred, 81, 9. Mexican Three per Cents.,
241, C. ; ditto for account, 30th Sept., 244,1. Peru-
vian Your-and-a-Half per Cent. Bonds, 70, 721 ex.
die. ; ditto Deterred Three per Cent., 56. Russian
!four-and-a-Half per Cents., 1001, 100. Sardinian
All per Cents., 94, 93. Spanish Old Three per
c.a.., 464; ditto New Deferred Three per Cents.,
for account, 221,1; the Committee's Certifs., 51 per
, cent.

Money to-day was very tight. No discount busi-
ness can be effected below the Bank minimum rate
of 4 per cent., and on second-class and inferior paper
high rates are exacted. The pressure at the Bank
of England to-day, u yesterday, was very great.
Many of the discounters " out of doom" are averse
to granting accommodation on bills unless they can
place them immediately at the Bank of England or
elsewhere. The progressive advance in the rate of
discount is understood to have inflicted loss upon
these dealers in many instances, as they have been
caught with a large mass of bills in hand discounted
at lower rates.

Notwithstanding the improvement in the ex-
changes, we hear to-day of the despatch of further
moderate amounts of gold to France.
The Hydsspes, which was fixed to leave South-
ampton to-day for Plymouth and the East Indies,
takes out 50,0001. on freight, of which 22,000/. is in
gold, and 500/. silver, all for the Mauritius, and
27,50 W. silver for Calcutta.
The Panama has arrived at Liverpool from Sydney,
which port she left on the 7th May. This vessel is
not known to have any gold on freight.
There was another failure to-day in the Stock Ex-
change of a broker, who seems to have been a large
",bull " of Oxford and Worcester shares. This
stock was consequently extremely depressed. The
liabilities of the party in question were currently re-
ported at about 13,0001. This is stated, according to
common report, to be not the only ease of embarrass-
ment amongst late operators for a rise, who have
been caught by the panic in the railway market.
The corn market to-day was very firm, at a slight
advance on Monday's rates.
There was a rise to-day of 9d. to is. in tallow,
consequent upon the news from St. Petersburg. The
closing quotation of Russian for the last three months
of the year was 535. 9d.
Miscellaneous stocks of all descriptions were very
heavy to-day, and, in many instances, difficult of sale.
Australian Agricultural closed 26 to 28, and Peel River
to d die. Crystal Palace shares closed lit to 1
prem. Australian Bank shares were very flat, and
sales could only be effected at reduced prices.
The half-yearly accounts recently issued by the
directors of the Lancashire and Yorkshire Rail-
way Company show the following sums in fa-
vour of 1853, as compared with 1852, viz.:—
Increase in receipts from passengers, parcels, and
mails, 6,1651. ; increase in goods and live stock
receipts, 38,207/. • increase in sundry receipts, 1461. ;
decrease in coaching charges, 1,598/.; decrease in
sundry charges, 1,7211. ' • decrease in interest on de-
bentures, 3,5951. • total in favour of 18.53, 31,7291.
lOn the other hand, the sums against 1653, as con-
trasted with 1852, may be thus stated :—lncrease in
maintenance of way, 3,4871.; increase in locomotive
power, 1,0031. ; increase in goods charge'', 8,0571. ;
increase in general charges, 7301.; increase in Pres-
ton and Wyre expenses, 246/. ; increase in Black-
burn ditto, 8411.; compensation, 4,6201. ; increase in
taxation, 7181.; increase in Preston and Wyre
charges, 1,4991. • increase in other preferential
charges, 1051. The increase in profit earned by the
working of the line is thus 28,1341., and the actual
increase in profit for dividend, including the saving
in Preference charges, is 30,1251.

A recapitulation shows tbe following results, viz. :
—lst. An increase in gross revenue in the first half
of the year 1853, over that of the first half of 1852,
of 44,5181., of which 38,2071. was derived from goods
traffic. 2ndly. An increase in working expenses of
16,3841., equal to 36.80 per cent. of the increased re-
ceipt. 3rd. An increased profit of 30,1251. or 63.20
per cent. of the increased receipt. 4th. A diminution
in preference charges of 1,9914 The increase of
30,125/. in profit for dividend is thus distributed,
viz., additional sum required to pay 3 per cent.,
owing chiefly to calls on the Fifth shares, 4,808/. ;
the additional -I per cent. of dividend paid (i.e. 3i
per nt. instead of 3 per cent. last year), 10,0.571. ;
Icent.
less taken from the reserve than on the 30th June,
1852, 10,472/. ; added to the reserve, 4,7881.; total,
30,125/. It will thus be seen that, although a divi-
dend of only I per cent. more than on the 30th June,
1852, has been declared, the sum earned for dividend
exceeds that of the corresponding period of 1852 by
Itanhe amount ecaqupiivtaall,enitn
ctoluttlipengr cethnet.luditvicadelnl douepothne
Fifths shares. The capital expended during the halt
year amounts to 61,076/. The same item in the accounts
of the London and North-Western amounted to

128;,0761., and in those of the Midland to 214,0331,
106,620/., in the last named cue being for rolling
stock alone. The sum expended by the Lancashire
and York hire Company for rolling stock in the
half year is only 3,1631. In looking to the future it
imnagydl7cressobseedrvdedurithnagt,
thet debthalf Toefartlryciggoni, haa:d-
further loans being improbable at less than the
present average rate of 4!. 3s. 3d. per cent. ter an-
num, it is not likely that any further saving in pre-
ferential charges will be immediately affected. A
call of 30s. on the Fifth shares falls due on the 30th
of the present month, and 20s. more on tho
31st March next. The number of Fifths shares
is 126,819, and to this extent the ordinary stock
in receipt of dividends will be increased. This
fact must also be borne in mind in calculating future
dividends. Avery important feature of the directors're-
cent report yet remains to be touched upon : we refer
to the' memorial" to the board in reference to a call of
10s. per share paid upon the Fifths shares, praying
that it may be applied to revenue instead of capital.
In principle this sum should not be so treated ; but
if, as appears possible, it should be voted to revenue,
and the reserve fund of 20,000/. should be suspended
for the current half year, thenceforward it will in-
•reese the dividend immediately by 4 per cent. This
sum of 60,0001. (being the amount of the 10s. call)
would in all probability have been voted to go to
revenue at the recent half-yearly meeting, it the
times had been more propitious. As it is, the chair-
man left it to the proprietors to convene a special
meeting to decide upon the point. In the event of
any marked change for the better taking place in
the mrrket, the meeting in question will probably
be convened. It appears, however, a singular state
of things that a body of shareholders should have in
their hands the important option of voting to them-
selves, whenever they may think fit, an extra 3 per
cent. dividend.

Annexed are the latest reports from continental
bourses, as received by Mr. Renter's express :
Amsterdam, Tuesday, closing prices:—Dutch Four
per Cents., 93i ; ditto Two-and-a-Half per Cents.,
61 15-16 ; Spanish Deferred Three per Cents., 221;
the Coupons, 51; the Old Three per Cent., foreign,
461 ; Austrian Five per Cent. Meanies, 814;
Mexican New, 24 1-16 ; Granada Deferred, 8 ; Por-
tuguese New, 38 15.16; Granada Active, 21. Most
of these prices show a heavy fall. Paris closing
prices of this day : Three per Cent. ltentes, 76.70;
Four-and-a-Half per Cent. 100.60; Bank shares,
2,800. This bout-se has also fallen materially.

THIS DAY.—Two o'CLoci.
There has been a good deal of fluctuation in the
English stock market to-day, Consols having ranged
between 954 and 95/ for account. The advance
in the early . part of the day was owing
to an impression that the Bank Board at
its meeting this morning would not decide
unon any advance in the rate of discount;
but more doubt is now expressed, and the present
quotation is lower, at 951 tow for money, and 953 to
a for the 13th October. At the present moment bu-
siness is almost quite suspended throughout the
house, and the greatest anxiety is expressed to learn
the result of the Bank sitting, which is extraordi-
narily protracted. Exchequer Bills mark 31. dia to
par; and India Bonds, Is. to a. prem.
Foreign stocks are unsettled, and generally show a
downward tendency. Mexican is quoted 241 to
and Spanish Deferred, 22 to 1. The only other
sales recorded are :—Peruvian Four-and-a-Half per
Cents., 77 ex div.; Russian Fives, 113 ex div.; Sar-
dinian Five per Cents.. 93 to ; Dutch Fours, 971;
Brazilian Four-and-a-Half per Cents., 98.

QUARTER-PAST Two.

The Bank of England Board has broken up, and
has raised its rate of discount to 41 per cent. The
effect upon the stock markets, however, is at present
not decided. Consols are slightly lower, at 954 to A
for account. Prices of other securities, including
railway stocks, are much the same as before the
announcement was made.

COMMERCIAL AND MARKETS.

MINCLNG-LANE.-THIS DAY.
SUGAIL-300 bags of Madras were Bold in public sale at
about previous rates ; 380 bags foreign East India sold at
37e. to 39a. 6d., which was the relative value; 700 hbds.
Cuba were offered and chiefly bought in ; 700 Mids. Porto
Rico and about half sold at 343. tul2s. ; 1,400 boxes of Ha-
eaanall were also offered, and the sound portion was bought
tn. The sugar market has been very dull to-day. The
refined market a shade lower; brown lumpy, 451. ; grocery,
465. 6d. to 475. 6d.
COFFER.-400 bags very good native Ceylon partly sold
in public sale at 48s. ; two lots, 48s. 65.
TEA.—We have no alteration to quote in prices. The
telegraphic news from China is hourly expected.
CUTTON.-300 bales Surat were offered in public sale,
and a part sold 3,1 d. to 31d. per lb. 140 bales Madras sold
at 21d. to 3d. per lb.
BRANDY continues in good demand.
In other article, no material alteration.

TALLOW MARKET.—THIS DAY.
The Tallow market is steady to-day, with not much ha-
lines, doing. Town Tallow is quoted 53a. nett cash; Pe-
tersburg Y. C. on the spot, 645. 6d. ; Oct. to Dec., 631. 91.;
Jan. to March, 611. 9d.

SMITHFIELD HAY MARKET.—THIS DAY.
Mr. E. J. Davis reports the trade without alteration.
Prime Meadow Ray, 903. to 1065.; Inferior, 60e. to 80e.;
Rowen, 501. to 603. ; Clever, 90s. to 1265. ; Second Cut,
801. to 1101.; Straw, 30s. to 345.

NEW REGULATION ON PROPERTY POUND IN
CADS AND 01INIBUSE8.—There is a new regulation in the
Metropolitan Carriages Act, with respect to property found
in cabs and omnibuses. It is enacted by the 11th section
of the 16 and 17 Vic., cap. 33, that the driver ef every
hackney carriage wherein any property may be
left, shall, within twenty-four hours, carry the
same, if not sooner claimed by the owner, in the
state in which he shall find the same, to the nearest polies-
station, and deposit the same with the inspector or other
officer on duty, upon pain that every such driver, making
any default shall be liable to a penalty, not more than 101.,
or at the discretion of the magistrate, may be imprisoned lot
any time not exceeding one month, and the officer with
whom the property is deposited shall enter it into a book
with particulars, and the property so entered shall be re-
turned to the person who shall prove to the satisfaction of
the police commissioners that the same belonged to him.
such person previously paying all expenses incurred toge-
ther with such reasonable sum to the driver who brought
the same, as the commissioners shall award. the pro-
...
• • - '

petty is not claimed within a year, it is to be sold, and'thc
proceeds paii to the Receiver-General of the Inland Revenue
after the expases, and the sum awarded to the driver by the
police commissioner. All property found in any metropo-
litan carriage is to be deposited in the same manner, under a
similar penalty or iroprisonment,and if not claimed within a
year to be sold and the money applied as mentioned in cabs.
This is a new provision on the subject.

THE ORWELL. —As this steamer was coming.
through the Pool on Saturday morning, between eight and
nine o'clock, on her usual voyage to Ipswich, and when
just over the Thames Tunnel, the river being crowded with
shipping, she fouled a °oilier at anchor in Limehouse Reach,
in attempting to clear a ',chooser and screw collier under
weigh, the tide at the time ebbing rapidly, rendering it
impouible for her to get clear. The couuquenee was that
the Orwell carried away the greater part of her larboard
paddle-box, and damaged her wheel so much as to prevent
her prosecuting her voyage for some hones. None of the
passengers or crew were to the slightest degree injured;
and as the Pearl steamer, belonging to the Ipswich Com-
pany, was lying at Hors's Wharf, discharging her up cargo,
her steam was immediately raised, and all those passengers
who were not PO impatient as to leave the wharf before this
needful operation was performed, were safely conveyed to
their destination with only the delay of a few hours. The
Pearl arrived at Ipswich the same evening, soon after nine
o'clock ; the Orwell did not arrive until the next morning.
We understand the damage is not by any means serious,
uwiscsltetrasitp
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and that in about three weeks she will be again upon the
station ; in the meantime the Prince Albert takes the pier.)
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" UNCLE Tom " AGAIN IN TROUBLE.—A letter
from Rode of the 2nd inst. states that on the previous day
tho reading committee of the Holy Inquisition at in judg
ment upon various works, and condemned " Uncle Tilleto
Cabin as a damnable and pernicious work. The Italian
version to condemned is designated in the sentence, " n
tugurio dello Zio Tom, Romance, Atnerioano di Mira
Enrichetta Beeeher-Stowe."

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