The Express.
London, England, 1853-02-25 00:00:00

Al ONE Y MARKET.

TavasoLT Evincing.
The English stock market was very firm to-day,
and, although not closing at the highest point, the
general appearance of the market was improving.
Stock continues to be absorbed by the regular pur-
chases on account of the Sinking Fund, and this
influence, in combination with the renewal of the
imports of gold, prevents the reports of Continental
political difficulties from having any depressing
effect. Were those difficulties removed, there can be
little doubt the market would manifest a decided
upward tendency. The Bank of England weekly
court broke up, as we anticipated, without the issue
of any announcement calculated to affect the money
market. Money was to-day easier in the Stock
Exchange, at 1 k to 2 per cent. on government
securities.

Currency has been given to exaggertted reports of
the decrease in coin and bullion to be exhibited in
the next returns of the Bank of England, the falling
off being stated in some quarters at upwards of half
a million sterling. We understand the decrease will
be less than 100,0001.
Consols opened 99 to for money, and after
' reaching 991 to for the 10th March, finally left off
991 to t, and 991 buyers, respectively. The govern-
ment broker effected his purchase at 991. The
official list of actual business is as follows :—Three
per Cent. Consols, for money, 991 a ; ditto for
awsount. 991. Three per Cents. lied:hee. 1003, t,
Three-end-a-Quarter per Cents., 1031,1, 1, 1.
Long Annuities, 1860, 61. India Stock, 268, 266.
Bank Stock, 227, 1, 2261.
The market for Exchequer Bills is better, and
business is more freely transacted. The June bills
were dealt in at 125., 175., and 20s. prem., whilst the
advertised issue marks 10s., 14e., and Bs. prem.,
closing Bs. to 13s. prem. Moro steadiness is appa-
rent in this market.

In the foreign stock market there is no feature of
much novelty. Mexican Bonds improved to 24 to 1,
being scarce amongst the dealers. Turkish scrip
fully maintains its improvement of yesterday. and
was purchased at 11 prem., in consequence of the in-
telligence received by private letters, and published
by us, to the effect that the Porte has decided to
grant an indemnity and 6 per cent. interest, or to
ratify the loan on the terms stated in the firman of
August last. Swedish scrip remains heavy, whilst
Dutch stocks show a continued upward ten-
dency. Business throughout this department
is very scanty. The list of sales includes:—
Brazilian Four-and-a-Half per Cent., 1852, 971.
Dutch Four per Cent. Certificates, 991, 99. Mexican
Three per Cents., 241, 23i, 24 ; ditto for account,
28th February, 24. Peruvian Deferred, Three per
Cent., 63. Russian Five per Cent., 121. Sardinian
Five per Cents., 93, 94i. Spanish New Deferred
Three per Cents., 233; ditto Passive (Converted), 531
fo Swedish Mortgage Loan, 13, 2 din. Turkish
Six per Cent. Scrip, 1, 11 prem.
We are glad to observe that our remarks relative
to the serious and continuous additions to capital by
the Midland Railway Company have elicited some
explanations at the half-yearly Meeting yesterday.
The main point to which we drew attention was the
steady addition for several years pest to the charge
for rolling stock, debited to capital by this company
and now returned in their accounts at 3,5271.
per mile; and to the unfavourable contrast this sys-
tem presents to that of the London and North
Western Company, the latter living as regularly
diminished this item. The chairman's explana-
tion of the disparity is far from satisfactory. It
is an apology rather than a defence, and simply to
the effect that the London and North Western Com-
pany having originally paid dividends of 10 to 12
per cent., was able to defray a considerable portion
of this charge from revenue•, while the Midland,
having been, according to Mr. Ellis's statement, "al-
ways hard up," was compelled to make the capital ac-
count bear a considerable portion of this item, pro-
perly chargeable to revenue. The logic of this
is simply that, if low dividends are earned, capital is
to assist the revenue account, in order that higher
and undue rates may be declared, and to this perni-
cious style of argument and too common practice is
attributable much of the distrust which attaches to
railway property. Whatever reasons may be assigned,
the unfavourable feature of the Midland accounts,
and one which provokes general comment, lies in the
fact that this company divides 171,3221. among its
various proprietors for the past six months, and at
the same time, though one of the oldest railway un-
dertakings in the country, adds a total of 156,3821. to
the capital account of the company, or nine-tenths of
the profits declared.
The public sales of colonial wools at the Hall of
Commerce continue to be well attended by buyers,
both English and foreign, though there are not so
many of the latter as generally attend. Prices have
improved a shade since the commencement, and it is
fully expected they will continue firm until the
end Tho last day of the sales is fixed for the tad of
March. _

The periodical sales of silk commenced yesterday,
and terminated this evening. The quantity offered
was only 800 bales Bengal and 2,500 bales China.
As usual, there were no bidding!' in the room, but
business has been done to a fair extent by private
contract. .

The market for American stocks, this week, has
been characterised by a steady demand for most de-
scriptions of securities. There have been some large
purchases of New York and Erie Convertible Rail-
way Bonds.
The shares of all the new Australian banks were
in demand, to-da3, and realised decidedly improved
prices. The shares of the older institutions connected
with that colony are also inquired for, and show on
upward tendency. The shares of the Oriental Bank
have reached 501. Australian Agricultural were
steady, and closed 250 to 255; ditto, ex Peel River,
113 to 118. There were dealings in Bank of British
N irth American shares, at 591; Chartered Bask of
Asia (51. paid), 41; London Joint Stock Bank, 21 ;
London and Westminster Bank, 35; • Oriental Bank
Corporation, 491, 50,1, 50; London hocks, 129; St.
Katharine Docks, 99 ; British American Land, 511;
Crystal Palace, 51; Peninsular and Oriental Steam,
87, 861; Royal Mail Steam, 821, 83; Submarine
Telegraph (11. paid), lb
The traffic returns for the last week on the under-
mentioned English lines of railway, as made up to
this day, are as follows :
1853. 1852. 18.51.
London and NorthWeetern £41,193 £39,190 ..£39,660
Lancashire and Yorkshire 16,550 .. 15,660 .. 13,514
London and South Western 8,994 .. 8,933 ~ 8,136
London and Brighton, 6,955 .. 7,430 .. 7,513
Great Western
Midland

South Eastefn

York and North Midland 6,466 .. 7,147 .. 6;769
York, Newcastle, & Berwick 12,544 .. 13,098 12,321
Shrewsbury and Chester 1,535 .. 1,470 1,458
Great. Northern 13,291 .. 11,404 .. 8,126
Chester and 11 lyhead
Shropshire Union 570 .. 628 .. 483
Exeter and Crediton
Bristol and Exeter
Manchester & South J unction 539 .. 471 .. 416
East Lancashire 4,233 .. 4,125 .. 3,759
Eastern Counties and Norfolk 13,592 13,270 .. 12,281
East Anglian 671 .. 663 524
Leeds Northern 1,260 940 .. 835
South Yorkshire
Kendal and Windermere
Bolton, Blackburn, and
Clitheroe 790 .. 670 600
Manchester, Sheffield, sad _ _

Lincolnshire
Orford and Worcester
Stockton and Hartlepool
Newcastle and Carlisle
London and Blackwell . 842 824 .. 802
The aggregate results presented by these returns
(taking only the corresponding lines), are as fol-
lows :

Gress amount No. of Average receipt
received. miles open. per mile.
18.53.... £193,470 4,461 £l3 6 0
1852.... 186,232 4,316 f 13 2 9
111.51.... 173,319 4,2571 40 14 2
The returns this week arc not quite so good as of
late, owing, no doubt, to the cold weather hating

set in so suddenly, and curtailed passenger traffic,
but the comparison with the corresponding periods
of the two previous years continues, on the whole,
very satisfactory. Of the metropolitan lines, the
falling off is chiefly perceptible in the Brighton and
South Eastern, the returns of other lines keeping up
well.

The returns on Scotch lines arc as under :
1853. 1853.
Glasgow and South Western £4,104 .... £3,819
Caleaonian 8,462 .... 7,838
Edinburgh and Glasgow
Scottish Central
Aberdeen
Scottish Midland Junction 638 .... 534
North British
Dundee and Perth
The Irish returns are:

18.53. 1882.
Belfast and Ballymena
Cork and Bandon
Belfast and County Down 1;19 .... 309
Londonderry and Enniskillen
Ulster
Dublin and Belfast Junction ;tit .... 677
Great Southern and Western

THIS DAY.—Two o'CLoec

The market for the home funds is very quiet to-
day, and there has not been the slightest change in
prices. Consols remain quoted 004 to 1 for money,
and 991 for the 10th March. The Three per Cents.
Reduced mark 100: to :; the Three-and-a-Quarter
per Cents. 1031 tog; India Stock, 266; Bank Stock,
12471; Exchequer Bills, June, 12s. to 18s., prem.; do.
advertised, 12s. to tts. prem.
The dealings in the foreign house have also been
very few, and present no feature of the least interest.
Turkish scrip marks I prem.; Dutch Fours, 001 ;
Spanish Old Threes, 47;; ditto Passive, 5: to 1 ;
Mexican, 231 to 24 ; Peruvian Deferred, 62 ; Buenos
Ayrean, 63; Sardinian, 941 to 95; Russian Four-
and-a-Half per Cents., 104.