The Express.
London, England, 1851-06-04 00:00:00

THIS DAY.
Two o'CLoes.
The English stock market attracts but a limited
attendance of dealers, and the business offering con-
tinues of the same unimportant character as no-
ticed for some days past, but prices are steadily
maintained, not even a fractional variation having
occurred throughout the day.
Consols have been firm all morning, at yesterday's
range of 974 to 98, both for money and the 10th of
June. The official statement of transactions com-
prises: Three per Cent. Consols, 98, 977- •, ditto for
account, 98. Three per Cent. Reduced,4 974, 1.
Three-and a-Quarter per Cents., 984 4. Long An-
nuities, 1860, 7 5-16 ; ditto 30 years, 1860, 7 9-16.
India Stock, 260, 261. Bank Stock, 211 i.
The unfunded securities are steady, with little
doing. Exchequer Bills, 1,0001. mark 425. and 445.
pm. • ditto small, 455. India Bonds, 10001. 535. pm.
The change in the value of the foreign stocks is
limited to a further rise in Peruvian, which continue
to be enquired for, and an increase of firmness in
the market for Portuguese Bonds, consequent
upon the advises received from Lisbon, which,
as interpreted in the Stock Exchange, tend to an
earlier pacification than was in some quarters antici-
pated. ltussian stocks are very firm. Business is
rather more active than yesterday, and the
following stocks have met with bargains-
Chilian Three per Cents., at 65. Dutch
Two-and-a-Half per Cents., 594, ; ditto Four per
Cent. Certificates, 901,, 4. Danish Five per Cents.,
1031. Mexican Bonds, small, 341. Peruvian Five
per Cents., 1849, for account 13th June, 85' ) 861;
ditto Deferred, 40, 4. Portuguese Five per Cents.
Converted, 1841, 334; ditto, Four per Cents., for ac-
count, 33, i • ditto small, 33;. Russian Four-and-a-
Half per &nts., 102, 4. Spanish Active Five per
per Cents., 201.
The return of the Brighton traffic during the week
ending the 31st ult., just published, affords no com-
parison with the corresponding period of last year,
which embraced the Epsom race traffic. The receipts
are 10,0081. against 13,1011. lust year. The average
return per mile is 57.76/. against 8818/. in 1850.
The aggregate receipts of the half year to this date
are 196,0111. against 180,3121. in the same period
last year.
The South Eastern return shows an increase of
2,0451. over last year, the amount being 13,780'.,
against 1 1,735/. The average return per mile this
week is 52.791., against 50141. in 1850.
The Midland return is understood to show almost
the identical sum as last year, a circumstance which
has caused some disappointment.
The ensuing weeks bring on the dividend days of
several foreign stocks, winch are largely held in this
country. The following is an approximate estimate
of the amounts forthcoming, the total being about
half a million :
Amount.
Due.
June 1. Brazilian New Five per Cents., 1843 £18,300
June 1. GreninkiOne-and-a-Hulfper Cents. 30,100
July 1. Dutch Two-and a-Half per Cents. 23,000
July 1. Mexican Five per Cents 1.50,000
June 1. Portuguese Five per Cents 50,000
July 1. Ditto Five per Cent. Converted,
Ist .
July 1. Ditto Four per Cents
July 1. Ditto Three per Cents., 1848 2,500
July 1. Russian Four-and-a-Half per Cents 60,000
July 1. Spanish 'three per Cents.
June 22. French Three per Cents.
The following communication has been handed to
us by the committee of Mexican bondholders:
The committee of Mexican bondholders understand that
their communication to the Secretary of State in Washing-
ton of the 25th April, through the United States embassy
in London, did not leave 611 the 3rd of Mayby the Cambria,
which arrived in Boston on the 13th, so that it could not
reach Washington till the 13th May, when the President
and the greater part of his cabinet were absent attending
the opening of the Eric Railroad, which will fully account
for no answer having been received by the last American
packet.
I The condition of the Spanish negotiations still ex-
cites the must lively interest, and the bondholders
feel very strongly the necessity for some active step
being taken to defend their rights. It is one great
difficulty connected with a body of this kind, that
there are conflicting interests, and it particularly
behoves those representing the bondholders at large
to see that no individual section suffers. As matters
stand, however, gross inequality prevails, and unless
some strenuous effort be made, many persons will be
mulcted of their property. The following statement
from an influential bondholder shows the unfair
operation of Bravo Murillo's law on coupons of
interest :-
Suppose a bondholder had 100,000/. Five per Cent. Car-
tes Bonds, he has of course above 50,0004. coupons: he
may have kept them ; if so, he is called upon to give up
26,0001., or 50 per cent. But let us suppose another bond-
holder has sold his 60,0001. coupons at 20 per cent. he has
put into his pocket 10,0001. sterling of the unfortunate
coupon buyer," whose property is now reduced to 4,0001.
by this confiscatory process. Councils are now only 8 per
cent. The holders of the so-called Active Debt may be
divided into three classes :-Class 1. Holders of bonds and
all coupons attached, say " full complement men " : his loss
is, on 1001. five per cent. bonds, 50-. coupons=l.so/., Mt., or
50 per cent. of his coupons, leaving him 1254. New Active
one per cent. stock. Class 2. Coupon holder, say on 1501. :
his loss is 60 per cent., or 76/., leaving him 75/. New Active
one per cent. stock. Class 3. Bonds, ex coupons: on 1501.
stock, or bonds, his loss is not one farthing. Now the
latter, or No. 3, was either an original bondholder, and sold
off his coupons to Class 2, or he bought up bonds, ex cou-
pons, at low prices. Do either of these considerations seem
to entitle Class No. 3 to exemption (ruin a fair proportion of
sacrifice. If bonds and coupons each gave up 16 per cent.
the ease would assume a different complexion to coupons
being taxed 60 per cent.
There is no change in the bullion market ; prices
arc firm, with buyers coming forward.
In the foreign exchange market a rise was ex-
pectedyesterday, in consequence of the continued fall in
the price of silver; however, as frequently is the case,
the contrary took place. In this market, more than
in any other, supply and demand regulate the
quotations of the day, and sometimes irre-
spective of other causes that tend to an
opposite result. The demand for bills on Hamburg
and Amstcidam exceeding the supply, the rate of
exchange declined. Paris experience) no alteration,
short being done at 25 to 5, and three months at
25.20 to 25 • Ilamburg,l3.74toB ; Amsterdam,ll.l7l
to 18 ; Frankfort, 119 to 4. Bills on Italy were
likewise in request, and therefore done in favour of
sellers :-Genoa at 25.25 to 40 ; Leghorn, 30.40 to 45;
Naples, 404 to 41 ; Messina, 1234 to 124; Palermo,
1234 to 1. St. Petersburg, Spain, and Portugal
remained stationary. On N icons and Trieste there
were again scarcely any transactions, although the
feeling was more favourable, and sellers kept back.
The last quotations of exchange on London at
foreign places arc as follows :
Previous Latest
Quotations. Quotations.
Antwerp, short 23E071 25(071
Amsterdam, short 118.8.21 118. 821
Ditto, 2 months ll6. 76 MI. 76
Bombay, 6 months (docu-
ment
Bremen, 2 months 615, 619 616, 620
Berlin, 3 months
Copenhagen, short 8.89 8.90
Ditto, 3 months 8.83 8.84
Charleston
Catania
Gothenburg, 90 days
Hamburg, short
Ditto, 3 months
Leipsig, 3 months 6. 6.20
Mauritius
Milan, 3 mouths
Madrid
New Orleans llOl 1104
New York, 60 days
Naples 671 672
Philadelphia
Paris, short
Ditto, 3 months 24f. 80 24f. 85
Riga, 3 months
Rome
Stockholm, short
Ditto, 90 days
St. Petersburg, 3 months 37 11-1 3 6d. 7 11-16 d. 13.16
Trieste
Vienna
Venice 291. 12 291. 12
An arrival of a novel character is reported at the
port of Bristol, being the Grecian, of Glasgow, a very