The Express.
London, England, 1853-01-12 00:00:00

MONEY MABKET.

Tessisay EVIININO.
The English stock market was flatter k-day, with
an increased business' chiefly for money. Consols
opened 1001 to 1, but declined to 100 k to on a sale
of .30,0001. stock. There was subsequently a rally to
1001 buyers, on the telegraphic report of the arrival
of the Australian steamer, but the final quotation
was only 100 k to 1 for money and next Tuesday.
Amongst the transactions was another purchase on
government account at 1001. Considerable uneasi-
ness continues to be felt as to the movement of the
Bank, as it is known that the next return of the es-
' tablishment will show another very large decrease in
the stock of gold. The large import from Australia
is in favour of the market, and hopes are entertained
of a favourable turn in the exchanges, but
it must be repeated that a sensible check
has been given for a time to the sanguine keling of
speculators. It appears to be understood that the
Bank directors have committed themselves to a
course indicated by a feeling of extreme caution, and
under these circumstances, notwithstanding the
general soundness and rtetivi:y of our trade, the pros-
perity of all classes of the nation, and the prospect of
any drain to the continent being soon made up by
the influx of gold dust from Australia, operators
have become discouraged. An impression is becoming
prevalent that the influx front Australia may yet be
considerably retarded by the difficulty experienced
by masters of vessels in getting crews, and by other
circumstances. It is also recalled to mind, that ou
the discovery of California there was a long-continued
drain on the United States, and it is only of late
that the influx of gold from that quarter has been
very sensibly felt in the money markets of the
Union. The parallel sought to be established, how-
ever, between Australia and California, does not hold
good in all respects. The gold production in Aus-
tralia is already throwing that of California into the
shade, even with the very limited population engaged
at the southern diggings ; we have already received
several millions sterling in gold dust front her, and
the tendency of the golden current must necessarily
be towards the mother country, especially now that
three or four separate line. of steamers are on the
route.

The prices at which business was transacted in
the English funds are annexed, viz.:—Three per
Cent. Consols, for money, 100'. 4, 41
ditto, for •tho opening, 1001, 1„1, 1. Three per
Cents. Reduced, 101, ', Three-and-a-Quarter per
Cents., 1042, 2. Long Annuities, 1860, 61, 1 ;
ditto, 30 years, 1839, 61; ditto, 1860, 61, 3-16.
Bank Stock, 223, 226, being a further improvement.
Exchequer Bills remain quoted 675. to 70s. prem.
India Bonds were Is. lower, at 78s. to 81s. prem.
Foreign :Audis arc inactive, but prices are gene-
rally fairly supported. The sales recorded are as
follows :—Belgian Four-and-a-Half per Cents., 981,
99 (exchange 23f. per pound sterling). Brazilian
Four-and-a-Half per Cents., 99, 981. Dutch Two-
land-a-Half per Cents., W, 67, ex div. • ditto Four
per Cent. Certificates, 98;1, 99, 981. Ecuador Bonds,
31. Granada Deferred, 121, 5. Mexican Three per
Cents., 231, ; ditto for account, 14th January, 23.2.
Peruvian Deferred Three per Cents., 64. Portuguese
Five per Cents., Converted in 1811, 421; ditto Foar
per Cents., 401. Russian Five per Cents., 1211;
ditto Four-and-a-Halt per Cents., 1043, ox div.
Spanish Old Three per Cents., 49, ex div.; ditto
New Deferred Three per Cents., 23;, 1, ex div. •, the
Committee's Certifs., 41 per cent. Turkish Scrip,
4,1, prem.
One of the chief events of the day was the an-
nouncement of the arrival at Plymouth of the over-
due mail steamer Australian. Her detention ap-
pears to have mainly arisen front want of coal. She
left Sydney on the 20th September, Mt.lO.urne on
the 28th intern, Adelaide on the 4th October, and the
Cape on the 30th November. It is understood that
in addition to 156,000 ounces of gold from Sydney
and Melbourne, she brings from Adelaide 63,000
ounces. This gives a total of 221,000 ounces, the
Mint value of which is about 884,0001. sterling. Of

this sum about 139,0001. worth is understood to be
shipped by the South Australian Banking Company,
and 30,0001. worth by the Union Bank of Australia.
The Australian also brings over a beautiful nugget
weighing ':albs. as a present ta her Majesty, and her
passengers are stated to have a further considerable
quantity of the precious metal in their hands. This
is the flint steamer that has ever come in from Au-
stralia, and, her arrival consequently excites great
interest.

The slibjoined further communication has been
handed to us by the Committee of Nlexlean Bond-
holders:

Messrs. Baring Brothers end Co. inform the Committze
of Mexican 13ondhohlers thtt thy hive received, by the
Boys! ?daft steamer Trent, .18,622 do..s. trona Vera Crux,
and 13,502.77 dol.. from Tampico.
Australian Agricultural shares were dull in the
earlier part of the day, but slightly rallied in the
afternoon, closing about 270/. South Australian
Land were also inquired for, in anticipation of good
accounts by the steamer. The shares of Lew under-
takings were generally unchanged. Colonial Bank
shares were dealt in at Commercial Bank of

London at 31; National liGik of Ireland, 201, I cx
div.; Oriental Bank Corporation, 42, 43; London
Docks, 1231 ex div.; British North American Land,
70, being a great rise; Peninsular and Oriental
Steam, 891; Royal Mail Steam 311.
The new Matanzas and Sari:bills (Cuba) Railroad
bonds, fur 200,000/., appear to have been chiefly
taken up by parties fur investment. the price
opened to-day 1 to 3 prem., and closed '2 to 4 prem.
Am_ ngst the new projects lately out arc the Hima-
laya Tea Cultivation Company, with a capital of
100,0001., for the cultivation of tea in the valleys
and slopes of the Himalaya Mountains; and the
British Sugar Refining Company, capital 200,0001.,
the object of which is the refining of sugar under
the maw process patented by Mr. Bessemer.
A call of 10/. per share has been made on the
shares of the English and Irish Magnetic Telegraph
Company, payable by the 14th inst. The ditectors
of linglida, Scottish, and Austailian Chartered
Ban's, with a view to realisieg one-half of the capital
of the company, in accordance with the terms of at)

charter, have just made a cal! of a per share, par.
ativ
,b;ta stt Nlarch.

Tho Swedish. Official Gaulle of the 31st Di amber
contains the following announcement:

The works on the Royal Swedish Railway between
So; ing and Ifult were commenced on Tuesday last at the
town of Oran), on the place which Las been appoiated for
the buidings of the first station, and are now being carried
on without interruption.
- -

In the market for foreign exchanges to-day the
transactions were very limited, and the business on
Paris, Amsterdam, and Hamburg was unattended
with any change in rates. Vienna and Trieste were
son what higher than last post, being done from
10.41 to 50. The demand for Italian and Spanish
places continues. The prices negotiated are shown
below :

Time. Prices u negotiate! this day.
1311 L and M. Money.
Amsterdam per £ Short 113. 15Istr. ... 113. 16iate.
Ditto
Itotierlon • „ „ 11d. it sty.... 11d. lts OAT.
Antwerp
Brureels
Ilam. urg and Alton 0*
„ 13aioa. 51 echl. 73nIca. n sch.
St. Petersburg pm rube 33i mice .., 333 pence
Saris per £ Short 23fr. Cc. ... 25fr. 71:.
Ditto . . „ 3 Months:sff. 21c. ... 23fr. 274 e.
31 arsoCl.l4.
19 ' 23fr. 25c. ... 25fr. 30c.
FrartZfort.on-tho-Mainc per £lO ~. 11313. Okr. ... 111:3. Mrs.
V AUlla (effective) per .3 i, 102. 40kr. ~ 10i. .Okr.
Trieste
Madrid.......... .............. 44 304 pence „I $Ol Sim
Cadiz ,,pe: „ 30‘ •.ce ... Se pence
&lino
8..r....anr. „ ~ 304 pk nee ... SO Fence
Slalaga „ „ - pence ... 491 pence
Sevite ." ., „ - pence ... 4fi pence
Glbritar".... ....... „ ~ „ - pence .. 4o11 reline
I, ghorn „.,» ~ „ SCIr. 30c. ..: iair. 121 c.
Germ
Naples per ducat „ 41/ pence ... 41 prise
Menne
Mrs,ina .
1.Van....... per zuPilre'r 7:93Mdays7da' tclll2-44 gpi.ceenoen2cece ••...... 11321434 I‘,l'i'mance"e
04-0rt3......... ..... „ ~ „ - pence .„ 611 pa-up
- - -

The general topic of conversation on 'Change to.
day was the failure of Messrs. Coffman and Stoker-
folit, in connexion with the spurious granary war-
rants and bills of lading. It is considered that a
great many facts must come to light before the myt:
tery which at present hangs over the affair can i
cleared up. It is stared that the agent in Amster-
dam of Mr. l'ries, who is in custody here, has ab-
sconded. Tho accounts from the Conant nt are
looked for with interest, as it is thought by some that
the failure will react in some of th- foreign markets.
Monday next, the lith, kas been appointed set-
tling day for the 11 extension shares of the East
Indian Railway Company.
At tho meeting of the Colonial Bank proprietary
to-day, the usual dividend at the rate of 3 per cent.
per annum was declared for the half year ending the
30th Juue last, although the profits of the association
are increased. The adherence of the directors to this
cautious course, however, is nut approved of by the
entire body of shareholders, as will he seen the
following, which has reached us from a corres-
pondent:
It was my intention to Lave run up to London to attend
the Colonist Bank meeting to-morrow, for the purpose of
suggetting that the item of G 93,7761. Is. 9,1. far bills dis-
counted and purchased, including those past due, should be
dissect l, fir the betzer information of the proprietary, in
the fnllowing manner,vic.: Bills discounted—Bills pur-
chased—Bills past due; G 59,7761. This item alone involves
more than the capital of the bank, the half-yearly profit
upon which shows a dividend of 7 per cent. ; but fro.o the
raismanogement of the directors, in sufficing such heavy
losses to creep in, the proprietary are only receiving a din-
deed of 3 per cent. Surely this is inflicting too great a
punishment on the unfortunate proprietor for the negli-
gence of his directors. It would appear much more equit-
able to make a 4 per cent. dividend, and spread the losses
over a series of years, than to deprive the humble proprietor
year after year of so large a portion of income.
At the present period, when law—and especially
mercantile law—reform, is regarded as a subject of
immediate importance, it is interesting to remark,
that the council of King's College have just con-
cluded arrangements for the delivery of a series of
lectures on commercial law. It is stated that the
lectures are intended to bo sufficiently numerous to
comprise an exposition of tho entire mercantile law
of the United Kingdom, and of those countries with
which our commerce is chiefly carried on. The lec-
tures are to be delivered by Mr. Leone Levi, author
of "Commercial Law of the World," and other
works.

The quotations of stocks at Amsterdam on Monday
are thus reported by Mr. Reuter's telegraphic ex-
press: Dutch Four per Cents., 96:i•' ditto TVIO-ane.
a-Half per Cents., 66 1-16; Spanish Deferred Three
per Cents., 23 13-16; Mexican New, 241; Portu-
guese New, 3'3#; Austrian Five per Cent. Metallic%
83. At Vienne, on Monday, the Five per Cent.
Metallic, were quoted 96; and the Exchange on
London, 10.36.

THIS DAY—Twu o'CLocK.

The English stock market remains flat. Ccnsols
have declined from 1001 to 100 ex div. for money and
the 13th, and are now quoted 100 to I. Business is
not extensive, a considerable amount of attention
being absorbed by the arrangements for the settling
in shares and foreign stocks. The Three per Cents.
Reduced mark 101,1 to 101; the Three and-a-Quarter
per Cents., 1041 to 4 ; South :Sea Old Annuities,
1001.; ; Bank Stock, 225 to 220 ; Exchequer Bills, 675.
to 70s. prem.; India Bonds, 78s. prem.
Foreign stocks are dull, with a rather drooping
tendency for the speculative descriptions, except
Mexican, which is a shade better, marking 23 to
Very little business has beer. done in this depart-
ment. Peruvian Actives have been dealt in at 103 ;
Spanish Old Threes, 431 ex div.; the Committee's
Certificates, 4? per cent.; Swedish Mortgage loan, I L
dis.; Granada Deferred, 12; ; Danish Fives, 10s.

COMMERCIAL AND MARKETS.

MARK-LANE.-THIS DAY.

The supplies of all descriptions nf Grain and Flour have
been small this week, vessels being still detained by the
boisterous state of the weather and adverse winds. Holders
of old Wheat and Flour in some instai.ces evinced firmness,
and needy buyers hat to pay very extreme rates.
Barley, Oats. Beans, and Peas, were in fair retail do-
mar,d, and Alanday a quotations were well supported.
AItatIVALS INTO LONDON Fltoll loth JAN. to 12:11 JAN.
Qrs. lieriidu nootelt. Lrisb. Vornir.
ttnn.5t......... Is:O I
Ilseor 8 ,i) • • • • ..
0 rll l9t
haltalt .....
14: ..
Plots,
20

a.74l2ll;sackp.

MINCING-LANE.-THIS DAY.

Sun an.—The public sale of 2,300 boxes of Havanneh was
withdrawn at high pries. The small sale of Brazil went
oil without altering general quotations, but the market has
rather a heavy appearance. The rcf.tied market is dull at
list wok's prices.
ForrEE.—The public sales are progressing without

• o
TEA.—Tterc has been a fair amount of business done the
last two dap.
S MTPETRE.-1,000 bags wore offered and bought in at
high prices. Refraction 4to 71,275. 6d. to 301.
Rtcz.-8,000 bags Madras sold freely in public sale at
rather higher prices, 10s. to 104. 6d. 1,000 bags of Bengal
also sold steadily at 10s. 01. to 19s.
SPICEB.—The public sales are progressing steadily.
In other articles no material alteration.