The Express.
London, England, 1847-05-31 00:00:00

POLICE.- SATDIDAY!

CLERKENWELL.—A maw Potion MAottrnATE.—
Mr. Tyrrwhitt took his mat at this court for the firat time.
Mr. Cottenham, from Southwark, presided with him.
MARLBOROUGH-STREET. PLATO ROBBERY AT
PLYMOUTH.—T. W. Willa was reexamined charged with
having stolen a large quantity of plate, the property of C.
Trelawny, Esq., of Plymouth. It was proved that the
prisoner had got a stranger to write a letter authorising him
to sell the plate. Mr. Trelawny's butler identified the plate,
and considered that it must have been stolen by some one
well acquainted with the premises. Further than this the
evidence was a HIM repetition of that given at the first
examination, sad the was remanded to Plymouth,
where the requisite 'al Investigation will take plaoe.
WESTMINST —Dursaare ATTACY EPON THZ
POLICK.—J, GOMM, D. Glermus, J. Cetbe J. Gilbert,
I end Catherine Goma*, wars finny moodoot ;hawed with
moults upon the polio., who hod bees ssYsi lea to take
some of the tows late embody, sad Mho &rads was
charged wilt to to mow woo of the
Liter • repetition It the lonoor widows, Thowas=y
said that be was se sat art injured that Ids stook sod shirt
were so ths.g they hid hen steeped la a poll of blood, and
he was with two other mutable. conveyed to the hospital,
where ho remained two or three days, and is at rtamt
.an
04-patient. In defence,
Dennis iflohn Gor
ormmn xduiledeniweldhis hav
make ing
statement about himself, but his mother sway pot her spans
up to Carmody's face, and eommiserated Moo after maw
pare= had wounded him; Coffee refused to maks any
ismer to the charge ; Gilbert declared that le wow Mesa
a blow until he was himself struck; and Catharine Garman
repeated the account given by her son Dennis. The five
first-named prisoners were committed to Newgate for felo-
aosaalting sad wounding the officers, and Elsa
Gomm, who woo sowely proved to have tried to moue bar
bushiest, was hold to ba.

MONEY MARKET.

SATURDAY EVENING.

The funds have maintained tfieirupw-arcl tendency
to-day. Consols were done as high as 881 for money, and
891 for the July account; but the reactions consequent on
the desire of realising profits by the dealers, brought down
the quotations at the close of business to 881 for money, and
881 to 90 far time. The most remarkable feature of the
day, however, was the tardy movement in advance of ex-
chequer bills, which were currently done at 2e. to 4s. premium.
This improvement must be a sensible relief to the Chancellor
of the Exchequer, who will probably not be called upon
now for the payment in cash of any large proportion of the
amount falling due in the middle of
That month. Reduced
Three per Cents. were 871 to ; .and.a.Quarter per
Cents., 89 t.O , Long Annuities, 9 to 1-16 ; Bank Stock,
193 to 5 ; India Stock, 243 to 5 ; India Bonds par, to 3s.
premium.
Foreign stocks tittered lam attention even than usual,
and may be quoted with little alteration of prices. Mexican
were rather better at 201 to 15. Venezuela were 1 per cent.
gilt:: at 38 te 40. Spanish Fives, 22/ to ; the Threes,
to 4/. Portuguese &dad to 321 to 331. Dutch Two-
an -Rolf per Nets, 1195 tog ; the Fours, 891 to 90.
The treneeetime fa the Rods to-day presented some con-
tfledng hotoros The speedsters for the fall bought
Moak to the meet of awe thee half a million, it was
sedsreleed, M so high • rater 901 for time. It would
Mmhow wet epredlons that a sort of panic
eobed them 1a Gems= of the rapid rise of prices,
and the to prevail that the lowest
point havie=lime measure of the reaction in the
reverse upward dkssds erbke bad set in, could not be
safely raledsted, sad *pit Bnd them more seriously at
fault utiu, Mast pstlrK for the contingency. Speculators
were not wards/. briviver. hardy enough to se three or
four hundred among Console at 89, and a fraction even
lower. The Beak limber sold about 50,000/. Consols for
the savings beaks, and about 80,000/. to 100,0001. exchequer
bills at a premium. It is not improbable that the Consols

sold would, in part if not in whole, be reinvested in the
bilk.
There is no question that the present glorious weather
which, so far as Europg, appears to be universal, has contri-
buted more than any other separate came to the extreor-
dimly revolution in stock and money values, and the resto-
ndion pro Mato of confidences. However in reality the
public apprehension from a fall fa stock values may be un-
founded or exaggerated, the fact indubitably I. that by no
one cause is credit so seriously disturbed as by the deprecia-
tion of funded values, say more especially of console. To
the parties interested as permanent holders of stock, and
looking for income to the proceeds, whether the stock be
held in trust or otherwise, it should be of little comparative
signification whether Consols be at 80 or 100. In the one
ease as in the other, income remains the ume. The depressitm
of stock values, when it occurs, should he regarded therefore in
what is generally its true bearing, as the displacement of capi-
tal from one species of investment for replacement in another
yielding more profitable returns. It will be long perhaps
before railway bonds and shares shall approximate closely to
the character of equal security possessed by the national
funds, although the progress of opinion is sufficiently indi-
cated already in their favour by toe not unfrequent testa-
mentary dispositions, of which more than twelve months
since instances were cited within the experience of the
writer, by which trusts are created, based on the absolute
stipulation of the property demised being invested in railway
shares carrying a certain amount of dividend. As opinion
progresses in favour of railway securities the differences of
price, es measured by the respective rates of interest yielded,
will therefore become gradually narrowed, and the margin
of difference, which in present circumstances may be
assumed as between 3 per cent. for consols, and 5 per
cent, for a railway bond of first character, may be cut down
to a one per cent. only. Were railway bonds and shares
always a really marketable security to any extent, at a price,
like consols, it is clear that the distinction between theta
would come to be little more than nominal. But railway
securities in certain circumstances are not convertible, u we
have seen, at any price, however they may come to be, and
cannot fail to be so, hereafter, when the true nature of
values and securities becomes better understood and appre-
ciated by the public. Meanwhile it is not at all desirable,
in the national sense, that consols should rise to par, that is,
to 1001. returning three per cent. only. When such is, or
has been, the ease, it is the evident signification of a low rata
of profits, rain prospective falling off et national income, and
I of the accumulation of unemployed capital which has been the
primary occasion of such reduced rates of interest. Therempon
succeeds the waste of acc um ulate d capital in all manner of home
and foreign speculation which appears to promise a more
, profitable return.
We are glad to learn, and to be able to announce, on the
highest mercantile authority, that, for some time to ensue at
least, it is expected that the rates of exchange on England
will so rise or be matntsined in the United States, that little
epprehension need be entertained of any considerable ship-
ments of gold front hence. We are emphatically assured, by
those who have the best means of knowledge, that every
packet-ship for the United States leaves these shores now
full of cargo, that is, of manufactured goads and other pre-
duct,. Thai we are coming more closely to a balance of
accounts on the most desirable conditions. We have a set-
off to the extent in the products of industry, representing
labour and its wages, against the profits and labour repre-
sented by products imported.
The Beek of England returns, dissected in the Express
of this day, present the favourable state of pro-
gress before predicated. The increase of coin and bullion is
not so considerable, indeed, as was looked tor, but it was
sufficient for confidence, seeing also the more thee corre-
sponding decrease in the active circulation, which, as repre-
senting a diminished action of the commercial movement,
cannot be altogether regarded, however, with equal compla-
cency. The large Addition to the government securities in
the banking department of 954,5501. would result mainly,
perhaps, from the purchases of, or advances upon, Exchequer
Bills. Such operations are the inevitable consequence of
the connexion of the Bank with the government, al wept
attended with more or less of danger and detriment to the
interests of the public, though fortunately in the present
case, from a remarkably favourable conjuncture of circum-
stances, probably also from the prudential ability and fore-
, cast of Bank management, they have led to a very drslrah'e
result for the Treaoiry, without material prejudice to bank-
ing business and public accommodation.
INGLIS/1
_ . .

7401 Sleek, 1113 1 1•1116 Reek. 211 4
I per Cc Had. Amts., 171 1 110 He 169•16, 1.0104.,1 pm
3 per Ct. Ooes. Atme,ll6l # 1 1 Do.. ..der 1ed114,2 pm. 2 dlr.
New 39 per cc Amos., 001 j ul 0 Carol. for Leet 111 35 9507 905
Long A.., cop. Jam 6,1140, 911 08.00 1.. WY, Slide. L., 2 1 I 1 3 pm.
9 1.16 Dins, 1600. 3 3 3
Do., 00 yes.,.. Oet. 10, 1630.91 I Mao, Ilma3l, 3 7
Dot, 30 ym , es. Jut. 6, VW, Di
1017.1011 FUNDS.
per Ct. 11401.340,1644. 201 1 21 per Ct. Vememels lids.. De
per Cc Portuguese Kande. 43 118 per Ct. Dutch Exchange, I/ Coll.,
3 per CI thmeish Eds., Dlr. from 001
Nov., 1110, 2-16 o.l4lCortlaseles. 691
L1C0A74131111 AND 1:1r)C127.311107..D.
AIIIRIII.I. MAT 36.—.11m. Delos. Tweeasem.lislf per Orate. 078.
661; Do. Three per Oeets., 70. 714: De. Tees per Cssts.. 011, 05 ..41111cn.
Dyed., Tlem.edd.s Malt per Onto, 67.676; Own. (Amp.. Y0ur...1.•
Melt per Coats , 1741.173 . N. I. Law Four per Cons., WI 90. /Rubor
ea Leaks, 11 07, two maths, 11.91. Da Huber,. 34.63, two 1•11.13: h•,
61.16.
ARV.), 11.4 7.

7.—Eactuage es l aa4a, 15.7111.
—awe par Cuts.. 1061: Fair gar Casts
a of 1141.114 : D. lOU. I. Dank arum. um.
T.Lou, Da. lOW De. 144; Da 11141. ,
a D. Mr 1 on, . Morass as Laaa.a. ZS 74