The Express.
London, England, 1847-07-13 00:00:00

MONEY MARKET.

MONDUi EVENING.
The exchange upon London came lower from Paris
this morning than has been known for a long time
past, at 23 fr. sc. money. This fall in exchange
there may probably have some connexion with the
impending loan, and result from the operations of
capitalists preparing to take part in it. The fact is
of consequence only, perhaps, as leading to the appre-
hension that the report that one portion of the loan,
say for 150,000,000 fr., or six millions sterling, is to
be brought forward within a few weeks, may
prove to be correct. Nevertheless it exercised
a certain influence on the stock market,
where prices were already weakly sustained,
and, combined with the advance of corn prices in
Mark-lane, and the state of the account, now within a
few days of maturing, the direction of which appears
to be still uncertain, caused a decline in funded values.
Consols from 88 t to t!, the first prices at which busi-
ness was done, fell to 88 to without an intermediate
break, and so left off for money and the opening.
Reduced Threes, 884 to 4. Three-and-a-Quarter per
Cents., 904 to 4. Long Annuities, 9 1-16 to 4. Ex-
chequer Bills, 1 ls. to Ids. prem. India Bonds, Os.
to Ills. prem. Bank Stock, 196 to 7. India Stock,
242 to 4.
Foreign stocks remain as neglected as usual.
Dutch obtained higher rates in the morning, when
the Two-and-a-Half per Cents. were called 574 to 8,
and the Fours, 90 to 4, but towards the close of
business the former receded to 57$ to 4, the Fours
remaining 90 to ly. Spanish are quoted as before, the
Fives, at 201 to 11 ; the Threes, 324 to 3. Portu-
guese, 304 to 14. 'Mexican, 19 to 4. Chilian, 92 to 3.
Brazilian, 83 to 5.

The reports are various and conflicting as to the
state of the Consol account, which comes to a liquida-
tion on the I6th current. From the large and
continued sales of late, it is conceived in some
quarters that speculators have generally bought far
beyond what they can be prepared to take, therefore
that it is technically a " bull" account. But on the
other band, it is known that some of the largest
buyers have already brought their accounts to a ba-
lance, by dexterously " slipping," as the phrase is,
their time stock. It may result after all therefore in
being a " bear" account, when sellers may be
called upon for more stock than they can deliver.
Every day, however, makes such changes, and ac-
counts are so much adjusted beforehand, that it may
happen, as it frequently does, when the day of settle-
ment arrives, that there will scarcely be any account
left unsettled.

Ronk (Stock. 194 ~.......... .
Count. for Aeet.. seiliNfi
3 pre OL Red. A•O3, 333.11 I 3 lndia Stock for dm., eted
3 per Ct. Comae Aar , 8 1 Fa. M 30, Y. Ll.OOO. II II pox.
Neer a per et. Asad,Pol I Ditto, L3OO, I, II pen
14 Ans.. eep. J..
.314 384 DIR.. 114411, 13 13 23 pm.
11014 Bowls. sager 11,000. 10 1
~....

3 per CI. Braellian Bdu, 84 4Kpewes.Cr. Pnrtn4Mtmeßeb.•Sml..7ol i
Dino. New. 1843. 776 S pee Ct. /Webb lids 1540.311
6 per Ct. lida. 926 2 8 pet Ct. Blow Amt., Inly 13, re
re per et. Dutch Ex.. 13 gull., 67 11 per Ct. Dutch Es.. rail.. M. I I
per Ct. Mexican, Amt.. July G. 19 4 per Ct. Blew Orraideaws. 90 lI
EXCHANGES AND STOCKS ABROAD,
Situate, Jet, s.—Three per Cent*. 27 1. Five per fieate.. ; Fawkes,
51 I . Coupons, 13. Bash of M. Ferdinand, 130. Exchange an London,
40 111.100.
jCLT 7—St SSA. MX. 911 01114, 921 matey; Pram MA., 91
LBW mei looney; Mlla and Autiolt Railway. 1161 money; Omits awl
Hamburg dlua. 1086 ; Balla and Stettin, lit openly.
SPANISH DEBT.—Sir,—I beg to acquaint yon, for the in-
formation of the Spanish bondholders, that Mr. James
Henderson, the agent at Madrid of the committee of the
Spanish Bondholders' Association, has, by express, sent his
son (who arrived in London yesterday) with a communica-
tion to the effect that Senor Salamanca professes his willing-
ness and desire to enter into an arrangement to settle the
debt on the following terms ; viz., " to convert the whole
debt into a 3 per cent. stock, and on condition of revenues
being duly secured and appropriated to the payment of the
reduced interest, those revenues arising either from the
customs or from any other source, the bondholders to sub.
scribe a relative proportion of their bonds, rather than adopt
anything in the shape of a loan ; for instance, in converting
the 13.51, active bonds and coupons, 1201. of the new bonds to
be received by the creditors, and 15/. by the government."
Mr. Henderson further states that " the abandonment of 2
per cent. interest on the active, and the surrender to the
government of more than 8,000,0001. of stock, is the grand
lever, and constitutes the binding obligation for the govern-
ment at env sacrifice to give bow, fide security for the future
payment ot the interest. The passive and deterred of 1831
to be admitted at rates to be agreed on."—l have, &c., C.
W. &togas, Honorary Secretary.—Spanish Bondholders'
Association, 30, Lothbury, July 12, 1847.
EQUA DOR DEBT.—TO George B. Robinson, Esq., Chair-
man of the Committee of South American Bondholders.—
Sir,—With reference to the letter which I had the honour of
addressing to you on the 29th ultimo, I have now the satis-
faction of transcribing the following extract from a letter
which, by the packet Just arrived, I have received from his
excellency Mr. Roca, president of Equador, dated Quito, Bth
of May lot:
All the matter which you have laid before me relative to os ar-
nusgement of the Equatarien debt Will be of service to in..., in the sp.
proaching session of the legislature, Gowan!e obtaining the proper
authority for that purpriae.
By publishing this letter for the information of the bond-
holders you will much oblige—(Signed)—Wu. PARISI(
ROBERTSo7l.—Equaterian Consulate-General, 10, Old Jewry
Chambers, 10th July, 1847.