The Express.
London, England, 1853-04-29 00:00:00

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MONEY MARKET.

Triessoav Ermine.
Tke English funds maistained a tolerably steady
appearance all the morning, but became flatter in
the afternoon on a sale by an influential broker.
The operation in question, however, was not a large
one, and the slight reduction established in prices
appears to be mainly owing. to the absence of active
business, the market remaining good in character.
T hill: the continent, the stock markets, as ad-
vised pk, are firm, and even at Amster-
data Welnutch stooks are rallying from the
sliest alt the uneasiness created, by the papal. question
now in WO, and the consequent ministeng eriiis.
Commis eis edid 1001 to 101 for account, sad so re-
mained during the greater part of the day, but after
the termination or the official hours the quotation
both for money and the 12th May was
loci to I only. The government broker made
his usual investment in Roduoed Threes.
The official business report includes :—Three
per Cent. Consols, for money, 100 t I; ditto
for account, 101, tool, 101. Three per Cent. Re-
duced, 100, /. Three-and-a-Quarter per Cents., 1031.
1,1. Long Annuities, 1860, 6, fi 15-16 ; ditto, 30
years, 1860, 61, 6 3-16. India Stock, 262. ank
Stock, 2271.
The Exchequer Bill market remains inactive, at
an uniform quotation of 3s. to 7s. prem., for both the
March and June issues. India Bonds mark 405.,
335., and 38s. prem.
In the foreign bond market we have to record a
rally in Dutch stocks. Mexican Bonds were weaker
on the intelligence from the Republic transmitted
through the New York papers. A considerable
business was done in this stock between 27 and 271
and the closing price was 27 to 1. Spanish Deferred
Threes stand at yesterday's price, but the Certificates
were just a shack, flatter, owing to the unfavourable
tone adopted by the Madrid press. Greek Bonds were
not quite so firm, and in other stocks there is no
new feature. At four o'clock Spanish Deferred was
quoted 231 to /; the Certificates, 61 to 61 per cent. •
Peruvian Deferred, 68 to 1 ; ditto Four-and-a-Half
per Cents., 3/ to 4j prem.; Granada Active, 231 to
24; ditto Deferred, 11/ to 2.. The list of actual
sales is annexed: Belgian Four-and-a-Half per
Cent. Bonds., 991, 1001 (exchange, 25f.) Dutch
Two-and-a-Half per Cents., 641, 651, / ; ditto, Four
per Cent. Certificates, 95, /, 96. Greek Bonds (Red),
111; ditto (Blue), 91. Mexican Three per Cents.,
27/, 1,1; or for account, 271, 27, 1. Peruvian
Four-and-a-Half per Cents., 881, 89. Portuguese
Four per Cents., 39t. Russian Five per Cents., 1191,
1201. Sardinian Five per Cents., 971, 1. Spanish
New Deferred Three per Cents., for account 17th
May, 231, /, 1 ; the Committee's Certifs. 61 per cent.
The meeting of the Court of Proprietors of the
South Sea Company took place today, pursuant to
a special notice from the directors, with a view to
taking into consideration the government proposals
for the commutation of the corporate stock of the
association. Eventually it was decided, under the
circumstances, and at the present stage of the go-
vernment measure, that the meeting should be ad-
journed, and power given to the directors to call the
proprietary together again at a future day, giving
the proprietary time, however, to notify their deci-
sion to government within the stipulated period.
Whichever part of the option offered by government
may be ultimately accepted, a majority of votes will
be requisite to render the decision as to the commu-
tation of the corporate stock legal.
The silver brought in by the Great Western from
the West Indies was all sold to-day at former prices,
viz., 4s. 111 d. per ounce for dollars, and ss. 1/d. per
ounce standard for bars. The whole of these supplies
was taken for India. The exportation of gold to the
continent continues. The quantityof specie taken
out by the Tasmania steamer to Hobart Town and
Port Phillip is 45,0001.
The amount of gold brought over by the Brilliant
from Port Phillip is 16,103 ounces, worth 60,7001.
The quantity on board the John Taylor, it appears,
is rather larger than was at first stated, amounting
to 18,000 ounces, of the valve of 72,0001. The Vi-
mein has also arrived from Sydney, with 45,000 oz.,
valued at 180,0001., and dates to the 2nd February,
being fully a fortnight later than the accounts
previously to hand. The intelligence afforded rela-
tive to the gold production, and to the general course
d Seines, is satisfactory. The Vimeira has made a
temadtably good passage home, having beaten the
maw steamer Sarah Sands, which left several days
Way her, having on board 24,000 ounces of gold,
in manifest.
The prospectus was issued this afternoon of the
United Kingdom Electric Telegraph Company,
which proposes to raise a capital of 250,0001., in 51
shares. Looking at the charges of other telegraph
companies, some of which have been subjected to
enormous expenses in the cost of patents and other
disbursements incidental to the telegraph system
prior to the introduction of the late valuable im-
provements, it is obvious that the operations of a
company like this, which professes to come forward
with a decidedly improved system (that of Mr.
Thomas Allan and others), with a view chiefly to
economy of charges, must be a great benefit to the
general public, Of the uses to which the electric
telegraph may be put into the every-day require-
ments of business, provided the charges are low, we
have sufficient evidence in the United States, and it
has long been a matter of regret that we should be
so much behind that country in our adaptation of
this wonderful invention. It is proposed by this
new company to lay. down a line of telegraphs
throughout Great Britain on the basis of a charge of
le. for a short message, or say one penny per word,
and it is stated to be one of the chief features of the
patent proposed to be used that a message can
be telegraphed without break or repetition
for a distance of 1,000 miles and upwards.
Another feature worthy of notice consists in
the offer, which is based upon actual estimates, of
giving any mercantile firm or other establishment, a
distinct and exclusive line of wire to any part of the
country. For instance, it is mentioned that such a
line could be laid down between London and Man-
chester for a cost of about 4001. per annum. Wires
to any part could be rented at the rate of 2!. to 31.
per mile per annum, and it is assumed that this
principle might be carried out to avast extent. The
special act of parliament enables the company to
open up all streets and highways, so that any oppo-
sition on the part of railway companies would go for
naught. A royal charter has been applied for,
limiting the liability of the shareholders.
All the Australian Land Companies shares were
better to-day. Agricultural' finally closed 85 to 87.
The advices received to-day from Australia mention
that high prices ruled for wool, tallow, and other
articles of produce, a state of things which must
have a peculiarly favourable influence on the interests
of these companies. After the regular hours of busi-
ness North British Australasian shares rose to 11 to
1/ prem., areport being current in the market that
gold had been discovered on this company's property.
Union Bank of Australia and Bank of Australasia
shares were 11. higher, and the other Australian
Banks firm. The Scottish Australian left off la „ to
11 prem. Shares of the General Screw Steam Ship-
ping Company (with 12/ paid), were done at 101
and 10: ; North of Europe 'Steam (71. 10s. paid), 7,
71. Peninsular and Oriental Steam, 83 ; ditto (251.
paid), 47. Shares of the Great Central of France
Railway closed 2j to 3 prem.; Grand Trunk Railway
of Canada, Ito 1I prem.; Berlin Waterworks, I to