The Express.
London, England, 1849-02-12 00:00:00

MONEY MARKET.

SLTURDLY ETIXTRO.

The operations in public securities were continued
to-day with the same activity and animation as for
some time put, accompanied intermediately with a
rise and fluctuations of prices scarcely less consider-
able. Consols actually touched upon 934, without,
however, an absolute bargain at that rate, but they
were several times buyers at 931. The activity of
the market, with the advance and variations in prices,
were, it may be observed, not so mach significant of
fresh and extended speculations upon the future, or
for the purposes of real investment of any im-
portant consideration, as with a view to that
liquidation of former speculative transactions,
whose credit term will expire on Tuesday next, the
13th instant. The preparations for the settlement to
take place on that day became so much the more
preening as Monday ie, what is technically termed,
" call day," when brokers and jobbers call over and
agree their accounts with each other, a most compli-
cated and laborious operation as may readily be con-
ceived, so as to be enabled to make up their
books, and determine their respective balances,
in favour of, or against, each other, for the
next day, subject after all to the declaration of
options subsequently. It will thus be readily com-
prehended by the uninformed reader, why the anxiety,
or the necessity, for making up books beforehand
should determine the somewhat hasty winding up of a
man of business deferred to the nearly latest moment
by parties on the losing side in the lingering hope
still that some lucky.event might turn the balance in
their favour, and retrieve their position; perhaps
equally deferred also by speculators on the right side,
more greedy of gain, and eager to clutch to the last
fraction of higher prices and profits that might befal.
Upon the average of the current account, the specula-
tors for the rise have had it very much their own
way, although not without occasional drawbacks. It
remains to be seen how the options, of which a large
amount must be depending, will tell on the settle-
ment.

At the close of business, consols settled down at 931
to!, both for money, and Tuesday. Reduced Threes,
931 to 1. Three-and-a-Quarter per Cents., 941 to
I. Long Annuities, 9 to 1-18. Exchequer Bills for
March, 475. to 49a. prem. ; for June 495. to 525.
COTlndia Bonds, 495. to 51s. prem. Bank
, 194 to 6.
For speculation Spanish bonds were most in favour
to-day, but the only cause assigned was that the non-
dividend paying fives should be considered quite as
good as the non-dividend paying Mexican fives,
whereas the latter were quoted 251 to and the
former 17 to 18 only. It must be admitted, however,
that there is some distinction between the two cases,
inasmuch as it is known that there are, or should be,
funds kere adequate to the payment of the whole, or
nearly the whole, of one dividend on Mexican bonds,
although, so far as the luckless bondholders are con-
cerned, there is no getting at them, and the dollars
might be just as profitably for them reconsigned to
the deeps of the Mexican mines from whence they
were originally extracted. The Spanish Ame-
rican Committee, instituted originally, and some
of them since self-appointed, for the protec-
tion of the interests of the bondholders, appear
to exercise their functions in this
case with a singular degree of patience andl=
tion to things as they are, contrasting remarkably
enough with the activity. displayed by some of the
members on the late occasion of the Peruvian scandal,
about the incidents of which the public have been
waiting some time impatiently for a full explanation,
in justice to the Peruvian envoy as well ea the bond-
holders. That affair, however, is not lost sight of,
and will not be, notwithstanding the ve'y politic pro-
crastinations of those interested ; it is understood,
indeed, that a meeting of the committee was lately
convened to that end, of the proceedings at which no
further information has transpired that that the alter-
cations were somewhat fierce, and incriminations of

particular parties not sparing. Can it be that the
members who display so much passive forbearance,
and more than passive resistance, in the matter, and
with regard to the repartition, of the funds in hand
from Mexico among the bondholders, should be the
same and identical with those who were se active in
the Peruvian affair, all the process and secrets of
which were, as we have been ensured by members of
the committee themselves, so carefully kept concealed
from the general body until the very last moment,
when pablicity became desirable?
Spanish Fives left off in advance at 18 to ; the
Threes at 294 to 301; Passives, 4 to Pore,
25 to 6. Dutch Two-and-a-Half per Cent:., 197
504; the Fours, 79 to 80. Belgian improved to 80
to 2. Russian, 106 to 8. Brazilian were quoted 80
to 2. Chaim, 92 to 4. Ecuador, 2} to 3. New Gra-
nada, 15 to _Venezuela, 19 to 21. Peruvian, 47
to 9.

The following calculations show the rate per cent.
per annum yielded by the various securities cited at
the average of the prices which ruled this day.
Where the asterisk is placed, it is to be understood
that the rate of dividend is less the income tax.

Tele par Ont. =mirage prke 9.11 yield per oent.£3
3 4 4
4 Tees par OM. 4
Tbzewasola4wlr pat s. :34 . $
9 0
Beek Moak (divideadiacont) 196 d 311 5
=Die MIL day) 4Ba. p. . 314 3
eel Y Railway
(divided 6 par IMO 74 i• 66 19 6:1
Groat Wotan r(de. 7 Id.)
knee add See Widget *(div. 6id ) 42 N 7 2 1
Louise sal Ilegittce ,i(dlv.4 34 id.) 33j iii 6 9
Man Omer ll(div. 4 kl.)
Idadoe said North Wooden v(div. 7id ) 137 iv 11 2 2
Itidlaod *(div. 6 Id.)
York and North Xidivad 0(illy. 8 id.) 67 • 7 0 4
York, Neonate, and Band& e(div
8 td.) 29

to 8 17 11

INGLIS*
Bank Stock, 1969
3 per 01. Mid. Aim., 93
Lytle Ot. Com. Arum, 9111 *
Nu Si we Cent Lona, f
Low Amt.. sip. Jim.. 6, 1903.

I FUND&
Ditto 30 Yen. Oct. 10 1559.813-16
India Bonds, =der ti WO, 50 2
Ocoas. for Amu On 1.6
=Bble. 404.040, 2#4.
7 9; 24., Jane, U
Ditto, Small. 2i61.. Mari, 46
FUND&
5 par OR @vial& Andre Btle.. 4# #
3 per (kat. Opal& Aost.. Feb. 15.
301
5 per Ot. Yukon Lat., Feb. 15.
25# #
4# oer Cent. Belgian Bonds. Fs.
s 2
1O up per Nut Deitch Rub. 12
11.. 60

I'OREION
5 per Et Braitilan Bum* 80 11
ge t lEtto New Mc. 1818 and
14 pet Ot Ecuador 8d5.,21
pun Ct. Sp Edn, dly. from
Nov.. 1810,18!! 18
Ditto. Account. Feb. 15, 17118! 18
ni
5 per Ct. Spent& Coupons. 11