The Express.
London, England, 1853-04-13 00:00:00

if ONBY MARKET.

TIMSDAT EVIIIINCI.
The English stock market remains steady in
character, but the prevalent suspense relative to the
issue of the government financial scheme has an un-
favourable effect upon prices, which ruled about 1
per cent. below those of yesterday. Hopes are ex-
pressed that Mr. Gladstone will not allow his scheme
to hang unnecessarily long over the market, as busi-
ness is naturally paralysed by the uncertainty. It
is pointed out that it would be wise to take action
as promptly as possible in the matter, as the large
amount of loose money now in the hands of capi-
talists arising from the payment of the dividends
will tend considerably to facilitate the financial
changes contemplated.
Console have stood without fluctuation all day
at 100! to .;• for money and to-morrow. The settling
in this market shows a light supply of floating stock.
The contange for April is barely 1 to 3-16. The
government broker took another parcel of Reduced
Shares at 991. The official business report includes :
Three per Cent. Consols, for money, 100%, ; ditto,
for account, 1001, 1. Three per Cent. Reduced,
99/, I. Three-and-a-Quarter per Cents., 103%, 2,, 1, 1.
New Five per Cent. Annuities, 128. Long Annui-
ties, 1860, 5 11-16, 61. Bank Stock, 2251, 224.
India Stock, 260%.
The Exchequer Bill market is rather steadier, but
without business. The March issue is quoted Is. to
4s. prem.; and the June, 3s. to 7s. prem. India
Beads mark 40s. to 455. prem.
In the foreign stock market there was a more
active business this afternoon. Spanish stocks have
sustained a further fall on renewed sales on foreign
orders. The Certificates at one time declined to 51
to 6 per cent., but rallied before the close to 61 to
61. The Deerred Threes, though less affected, left
offonly 231 to 244. Telegraphic despatches have
been received from Madrid to-day, announcing that
the Cortes had been suspended. From this fact, and
the fall in the price of the Certificates, it is inferred
that Messrs. Baring.' proposed loan ia in danger of
being rejected, but nothing further is yet known. It
does not appear reasonable, however, that the re-
fusal of the Cortes to ratify the loan negotiations
supported by the ministry should cause a tall in the
old stock. Peruvian Deferred Threes have risen 3
per cent on influential purchases, closing
661 to 671. Mexican Bonds were a shade
flatter, at 274 to y. Turkish Scrip remains quoted
31 to 3/per cent., and is not likely to experience any
fluctuation, as it wouldbe unwise to sell at 34, when
the full rate of indemnity offered is obtainable on
application at the offices of the loan. It transpired
this afternoon that the scrip holders' committee, as
we anticipated, have decided upon recommending
their constituents to accept the terms offered. The
amount of bonds received to-day at the Turkish
Lain offices was 3,197,000 francs. Such an amount
being received on the first day, goes far to show that
the terms are satisfactory to English holders. Other
stocks are generally steady. The list of sales is sub-
joined : Buenos Ayres Six per Cents., 61, 62. Chilian
Three per Cents., 82. Danish Five per Cents., 105/.
Dutch Two•and-a-Half per Cents., 661, 1, 66 ; ditto,
Four per Cent. Certificates, 971, 1, 97 ex div. Ecua-
dor Bonds, 51, 6. Granada Deferred,' 11;, 1. Mex-
ican Three per Cents., 271, 1. Peruvian Deferred
Three per Cents., 65, 64, 1, 671 cx div. Portuguese
Four per Cents. 401, 1,1. Russian Five per Cents.,
1181; ditto, Four-and-a-Half per Cents., 104, 1.
Sardinian Five per Cents., 977, 1. Spanish Old
Three per Cents., 471, 48, 47% ; ditto, Deferred
Three per Cents. 241, 231, 24, 231; the Committee's
Certificates, 61, 64, 6%. 61 per cent. Turkish Six per
Cent. Scrip, 31 prem. Venezuela Three-and •a-Half per
Cents., 391.
The interest duo on the 15th inst. on the bands of
the Canandaigua and Niagara Falls Railway is ad-
vertised as payable ire due course by Messrs. Master-
man, Peters, and Co.
The foreign exchanges were much the same to-day
u last post, as far as quotations go, but we have to
notice a better demand for bills, and thus Paris was
even paid as low as 25.02% for hut, and 23.23 for 3
months. There was especial inquiry for bills on
Leghorn and Genoa. The transactions generally
were very limited in amount.
All Australian Land shares were again very
heavy, and lower in price. Agriculturals closed 87
to 90; and South Australian Land, 48 to 50. The
two Scottish Australian companies shares were also
lower. British American Land shares are still
rising, leaving off 77 to 79. The shares of
the new Australian Banks were rather flatter.
Shares of the Colonial Bank have been done at 19%;;
London and Westminster Bank, 351; Union Bank of
London, 17, 18; London Docks, 125; Southampton
Docks, 39; Australian Royal Mail Steam (6/. paid),
41; British American. Land, 76, 77, 75, 77 ; Crystal
Palace (51. paid), 61, 1 ; General Steam Navigation,
30; General Screw Steam Shipping (121. paid),
111; Royal Mail Steam, 761 ;. Scottish Australian
Investment new scrip (10s. paid), 24. The second
issue of the bonds of the Great Western Railway of
Canada, expiring in 1873, have been done at 103.
The shares of the Grand Central Railway of France
closed 2/ to 3 prem.; North of Spain Railway ruled
at to 4 prem., being unfavourably affected by the
agitation in other Spanish stocks. Berlin Water-
works shares were quoted "1 to 1 prem.; Melbourne
Docks and Railway, par to prem.
It may not be amiss to mention that a certain in-
fluence is being exercised upon securities generally
by the flood of new projects that is pouring in upon
the market. Irrespective of the well-known fact
that old stocks, to a considerable extent at least,
must be sold to take up these new securities, cautious
men experience a growing feeling of distrust in
view of the daily hatching of new schemes, and the
future effect which they are naturally expected to
have upon the market. It is one of the worst fea-
tures of a company-forming mania that whilst 1
schemes are being multiplied to a vast extent, the
money market remains comparatively quiescent: it
is when the heavy and repeated calls fall due that
the real effect is experienced. It is in the apprehen-
sion of such a pressure being induced by the specu-
lative spirit now afloat that many parties appear
rather disposed to realise at good profits, than to
have largo sums out in the numerous projects of
the day.
The directors of the Australian Royal Mail Steam
Navigation Company have called an extraordinary
general meeting of their shareholders for the 2nd
May, "to receive a report from the directors respect-
ing the withdrawal of the mail &intract and for other
business."

The directors of the London Chartered Bank of
Australia have issued notice to the effect, that the
necessary certificate has been obtained from the Com-
missioners of her Majesty's Treasury, in conformity
with the terms of the charter, that the whole capital
of 500,0001. has been duly subscribed, authorising
the bank to commence business, and that instructions
have been forwarded to the colonies to that effect.
With reference to the delay is the issue of the
scrip of the Chiriqui Road Company, we are re-
quested to mention that the directors have been in
daily expectation of the arrival of their agent, Mr.
F. Adams, and the surveyor of the road, Mr. Cook
(from the firm of Messrs. Waring, the contractors).
These two gentlemen have passed over the entire
line of road from ocean to ocean, and report most
favourably of the prospects of the undertaking,
and of the richness of the country. Mr. Adams has
also been formally put in possession of the tract
of land by the legislature of the Province of Chiriqui,
but on his way home was seized with illness, as he
writes from Philadelphia, under date the 2Sth ult.
Ile expected, however, to be able to come over in the
Asia, which was to leave New York for Liverpool on
the 6th inst. He writes : " You can assure all par-,
tics that I have done my work, and done it well, and'
I feel assured that the directors will see every induce-
ment to prosecute the work with energy. I have the
most advantageous contract conceivable." Imme-
diately on the arrival of Messrs. Aelams and Cook
the directors intend to renew their app:ieation fur a
charter, and, upon receiving their final answer from