The Express.
London, England, 1851-07-11 00:00:00

MONEY MARKET.

THIS DAT.
Two °Twirl.
The improvement in the English stock market, to
which we alluded as likely to take place at this time,
in view of the easy position of the money mar-
ket, and the demand for eligible investment, arising
out of the dividend period, combined with the
continued purchases on account of the Commissioners
for the Reduction of the Debt,hea now begun to show
itself, and the market evinces a firmer tone, whilst
the quotation of Consols has improved from 961 to
97/. The transactions as yet are not considerable,
but an accession of business is looked for.
__ _

Consols are at present quoted 97 to ex div. for
Thursday, next. The list of the dam's transactions is
thus officially given : Three per C;nt. Console, 961,
97, i; ditto for account, 97, 1-; Three per Cent.
Reduced, 97-I, i, ; New Three-and-a-Quarter per
Cents., 881, 99. Long Annuities, 1860, 71.
Exchequer Bills have been in demand, and have
risen Is., being now Ms. to 345. prem. India Bonds,
1,0001., mark 60s. prem.
The foreign investments have attracted only •
limited amount of attention to-day, and the business
has chiefly consisted of a few routine orders. The
only quotable change in price has occurred in Sar-
dinian Scrip, which has rallied to 14 die., the market
wearing a steadier appearance. Mexican Bonds
have ranged from 32: to for account, but parties I
seem indisposed to operate for a rise in this stock,
in view of the present unfavourable and uncertain
aspect of affairs. Business is recorded as follows :
Dutch Two-and-a-Half per Cents., 594, ; ditto
Four per Cents. Certificates, 92, I.llGrenada De-
ferred, 4. Mexican Bonds, for account, 16th July,
32„ a, a. Peruvian Five per Cents.. 1849, for
account, 891. Russian Four-and-a-Half per Cents.
100 a, ex div.**Sardinian Scrip, it, 4, die. Spanish
Active Five per Cents., for account, 205, ; ditto
Three per Cents., 39.
Intelligence has just reached the city (in a Second
Edition of the Doily News) of the arrival of the Bra-
zilian steamer Tay at Southampton. Our views of
the critical state of the relations between Brazil and
Buenos :tyres are fully confirmed, the advices con-
curring that hostilities were imminent. The value of
the stocks of these states in the market will, of
course, suffer.
The Washington despatches have excited the
more surprise among the Mexican bondholders, as
they give rise to new and serious suspicions. The
version of the treaty of Hidalgo Guadaloupe now
propounded was whispered before, but sedulously
demed,and its enforcement creates the greatest alarm
among the bondholders. Insteadof having, as they
were led to believe, a draft on the American trea-
sury, at Washington, and the national honour and
resources of the United States to rely upon for its
punctual payment, they are turned back again to the
Mexican administration, whatever it may be, which
will receive the hard dollars from the United
States, and may, perhaps, pay the 2,500,000 to the
agent of the bondholders in Mexico. There is, there-
fore, a doubt now thrown upon the payment, which
has already seriously affected the market.
The mischief, however, does not rest here; the
more closely the transaction is regaled, the greater
is the grouud for mistrust. For some months the
bondholders have been deluded with the
belief that they were to receive a nego-
ciable draft on the United States treasury,
which was to be forthwith discounted, as some of the
committee said, at 4 per cent. The way in which
the bondholders have been treated is at present
rather mysterious, and demands a very close inquiry.
The Mexican administration must have been fully
cognisant of the terms of the treaty of Hidalgo Gus-
daloupe, and aware of the circumstances detailed in
the correspondence of Mr. Webster, and that being
the case, it does look as if they had lent themselves
to a delusion on the bondholders. One member of
that administration, the chief actor in all the finan-

cial arrangementaZis here now, and might be exa-
mined. The conduct of the Mexican committee
has provoked comment. Had they possessed
'themselves of the treaty of Hidalgo Guada-
loupe and looked into it, they would have
observed the stringency of the provisions, and
individual members would not have pledged them-
selves that the money was payable at Washington,
and not as alleged at Mexico. Had the com-
mittee maintained, as they have been urged,
some kind of an agency at Washington,
they would have long since been put in posses-
sion of the letter of Mr. Webster to Mr. Bay-
ley, of the 19th February (and not, as printed, 19th
July.) Latterly they have been holding forth that
the agency in Mexico is to be abolished, although
the presence of an agent was never more needed, and
until after May, Itis2, or the time when the dollars
are receivable in Mexico, the interests of the bond-
holders must be constantly protected. It is to be
hoped the Baron do Goldsmid and Mr. Capel
will remain firm in keeping up the agency,
and that the former will adhere to the
determination of having the dollars remitted here.
The true policy is to keep a vigilant eye in Mexico,
to anticipate nothing, and to wait until the hard
dollars arrive here for distribution. The bondholders
expect some immediate step from the independence
of the chairman and deputy-chairman. Tho period
is at hand for a half-yearly meeting, and the sham
smuggled meeting of the 19th of June has no title to
that character. Let the report be distributed in time
among the bondholders, and let there be full oppor-
tunity for discussion, so that men may not be ac-
quitted by stealth, nor found guilty and condemned
without summons, without defence, and behind their
backs.

The market for American stocks has remained un-
changed this week. Messrs. I). Bell, Son, and Co.,
report the following as the quotations at present
ruling, to which we have added the latest New
York prices, as given by Messrs. Cammann and
Whitehouse :

Load= New York
Redotornable. pronto priers.
UMW Motu 6 per Ct. Bda. . 11133
DO.. par Q. Ise&
Doll par Ct Bends
Do. 6 par Ct. Stott
New York /Pate 3 per Cent 18841660... 96 ... 104 106
New York aty 3 per Cent
Baton City b per Ct. Bends 18341863... 93 933/4 ...
Pennsylvanta 3 per Ct. 81ock 824 834 ... 94 94
Ohio 6 pm. Cent.
Msasseknaetts 3 per Ct. (sterling his)11161 107 108 ...
Maryland 3 per a. (sterling bonds)
Canada 6 per Ct. Bootle
.. . . .

Theti:affic returns for the last week on the under-
mentioned English lines of railway, as made up to
yesterday, are as follows:
1851. 1850.
London and North Western £61,239 .... £46,516
Midland
Lancashire and Yorkshire 17,114 .... 15,124
London and South Western 16,744 .... 11,723
London and Brighton
South Eastern
York and North Midland
Leeds and Think 1,049 .... 1,113
'Blanchester, Sheffield, and Lin-
colnshire 7,001 .... 6,012
Exeter and Crediton
Bristol and Exeter
Manchester, Buxton, Matlock,

and Midlands JunCtion 194 .... 267
Shrewsbury and Chester 1,817 .... 1,572
Shrewsbury and Birmingham 616 .... 601
Eastern Counties and Norfolk 17,557 .... 15,909
Great Northern 12,481 .... 3,073
Shropshire Union 470
Cheater and Holyhead 3,758 .... 3,221
North Staffordshire

Total £212,322

£171,094

The total receipts on the corresponding lines being
212,2011. in 1851, and 171,0941. in 1830, the increase
is shown to be 41,1071., or 24 per cent. The number
of miles open was in 1851, 3,521 ; and in 1850,
3,3041, being an increase of 2181 miles, or 61 per
cent. The average return per mile per week was
in 1851, 801. ss. 4d. ; and in 1850, 511. 151. sd.
These returns arc thus shown to be even more fa-
vourable than those previously published. The Lon-
don and North Western and South Western pre-
sent a very remarkable increase, which ap-
pears to be mainly attributable to the ex-

PARTS. JULY 10.

Tot
Mosey.

SS 0
9330

SS SO
9S 33

56 0
03 75

33 SO
43 34

$3 93
9363

3 re Cents.
5 wear
4 nor
per OMB. New Loss
ONO.
ams • I
41 pr I • •
Eutaw lon London Ist shalt, 23; 90 dil m 24 824.
Dilgta6, 5, MO lOll Money. I Naples Rentals 93 50 Money.
Do. b. Ina — %Homan Loan,ll3l ... 73
Da. ... I Do. do. 1320 ... 7n ..
Do. Treasury Bonds —
9191Mandqp. Cents. 43 40 ... Budt sham
PANTO, JUL! 10.—St. Germain, 438 75 ; Versailles (right
bank), 260; ditto Grit bank), 233 73; Paris and Orleans, 815; !'aria
and Rouen, 633 50; Bourn and Havre, 250; Straebourg and Bale,
ISO; Centre. 436 23; Boulogne and Amiens, 263; Orlean• and
Tnerr397 30; Northern, 136 25; Part, and Strasbourg. 371 25;
ou Nantes, 370 23; Grand Combs., 460; Bordeaux and Tate,
IS SI.
MADRID, JULY s.—Three per Cents., 37 9-16; after
Bolas, 374 cash, 37 9-16 paper. Four per Cents., 154. Five
per Centr.. 171 ; after Dolan, 174. Coupons, 84 ; after
84. Fusires 74 ; after Bola, 7 3-16 cash. Bank
of St. Ferdinand, 1004 cash. Exchange on London, 51 cash.
Bgaux, JULY 9.—Voluntary Loan 1061 ; New Loan,
Four-and-a-Halt per Cents., 1034 ; Debt, 894 ; Com-
mercial Marine Society's Premium, 125; Bank Shares, 991.
VIENNA, JULY 9.—Fire per Cent. idetalliques.. 964;
ditto Four-and-a-Half per Cent., SO ; Bank Shares, 1241;
Exchange on London, 12.