The Express.
London, England, 1853-10-29 00:00:00

The English stock market opened this morning
with an improved appearance, the heavy arrival of
gold by the Argo, and the necounts of the continued
large yield of the precious metal in Australia, stimu-
lating confidence. For a short time the tendency
continued upward; but, on the publication in the
second cditicn of the Drily News of official accounts
of an armed collision between the Turks and Itm.
s'nns on the Danube, a shock was given to the
matket, and speculative sales were encouraged.
Ls•cr in the day this intelligence was confirmed
through other channels, and, the political advices
from the Continent being generally interpreted as
unsatisfactory, some extensive and influential selling
caused a rapid fall of fully 1 per cent. from the best
price of the morning. Not withstanding a partial rally,
the market closed I per cent. worse than it left off
yesterday, and far from strong in tone, intelligence
that the Paris Bourse of to-day had closed !to per
cent. lower than yesterday, tending to check any
revival of confidence. A variety of disquieting
rumours have also been current, one of which had
I reference to reported sales on account of govern-
meat, and another to a probable funding, under cer-
tain eveutuAties, of a large amount of Exchequer
Bills, with a view to meeting the financial require-
ments of the Chancellor of the Excheoper at the
commencement of next year. This rumour appears
to have been mainly induced by the diseaurating
state of the market for Exchequer Bills, which are
now only saleable at a di.rount, notwithstanding the
late (bidding of the rate of interest. Owing
to the failure of his financial essays, confidence
in the Chancellor is so terribly shaken that
reports of this nature receive a certain degree of
crelence, the more especially at the proicnt
moment when war is on the horizon. The pub-
lication of the full text of the article on the Eastern
question from tho Handcar has led to numerous com-
plaints that the meaning of this important docu-
ment was perverted in a pacific sense by some of
the London journals, which professed to publish a
of it yesterday. Purchases of money stock
have been renewed to day on the fall, and have led
to the revival of a " backwardation" (or increased
value of money stock, as compared with the quota-
tion for the account) of 1-16: but for this, the
fall caused by intelligence of the commencement of
the Eastern war would probably have been more
severe.

Consols opened 92; to 1, improved to 921 to 1,
thence fell, with little check, to 911 to 1, and were
lust officially quoted 911 to 1, for money and
the 10th Nov. Afterwards the quotation receded
to 91 to 1, but the last quotation we heard was 913
to ?. The transactions of the day were of more than
ordinary importance. The official business report is
as follows : —Three per Cent. Consols, for money,
92i, f, 9l ; ditto, for account, 10th Nov., 92;,
1, 92, 921, 911, 3, 92, 911. Three per Cent. lie!
duoed, 911, A, 1, 903. Three-and-a-Quarter per
Cents., 931, 3,5, 93. Long Annuities, 7860,
5 3-16, 51; ditto, 30 years, 1839, 3. ludia Stock,
247, 230. South Sea Old Annuities, 991 ; ditto,
Three per Cent. Annuities, 1731, 100.
Exchequer Bills closed flat, at Is. die. to 3s. prem.
Sales of these secunlies, it is observed, are renewed
on any improvement in price. India Bonds are
quoted par to Se. pram.
The foreign stock market was very dull, and quite
devoid of any feature of novelty. Prices show little
change. At 4 o'clock Mexican Bonds were quoted
241 to 25. Spanish Deferred, 211 to 1; the
Certifs., 43 to 51 per cent. Peruvian Four-and-a-
Half per Cents., 70 to 72; ditto Three per Cents.,
49 to 51. Granada Active, 19 to 21; ditto Deferred,
71 to Russian Five per Cents., 11l to 113;
ditto Four-and-a-Half per Cents., 96 to 98. 'I he
list of sales includes :—Brazilian Old Five per
Cent. Bonds, 97 ; ditto Small Bonds, 97. Dutch
Two-and-a-Half per Cents, 624. Mexican Three
per Cents., 241„ Peruvian Four-and-a-llalf per
Cents., 701.. Portuguese Five per; Cents., 421; ditto
Four per Cents., 40, 401. Russian Five per Cents.,
1121 ; ditto Four-and-a-Half per Cents., 961, 97.
Sardinian Five per Cents., 91, 901. Spanish New
Deferred Three per Cents., 211.
It may be useful to mention that the Ist of
November being the day fixed for the striking of
the half-yearly balance at the Bank of England, the
transfer offices of that establishment will be closed
as usual. In all probability the Stock Fuchs:v*l
will also be closed.
The money market is certainly easier. We hear
of discount of first class short dated paper being ob-
tained to-day as low as 41 per cent. Generally
money is abundant, with an absence of the pressure
for accommodation noticed a short time back. Long
dated bills, however, are still unnegotiable, unloosed
enhanced rates.
Although shipments of gold continue to be made
to France, the demand for that quarter is languid.
The gold brought in by the steamer Argo will not be
deliverable in London till next week. The destina-
tion of this large arrival depends on the course of
the market for foreign exchanges, but at present
there is every prospect of its being presented for
purchase to the Bank of England.
The amount of gold brought in on freight by the
Argo is 131,444 ounces, valued at about 537,0001.
sterling. In another column will be found ample
details of the intelligence brought by this vessel from
Australia.
The subjoined quantities of gold are known to be
on the way to England from Australia :
Gold on
From.

Name.

Sailed. board. Ounces.

Surir7 Sidney July 1
American Leee....Sydney July 1
Port Wallace ....Geelong ....July 2 10,108
Royal George ....Geelong ....July 6 16,39 i
Madagascar Port Phillip.. Aug. 12 ....60,460
Roderick Dhu Port Philip.. Aug. 10 .... 460
Pbcenician Sydney July 27 ....29,649
Childe Harold.... Sydney July 14 .... 2,335
Bengal (put into Rio) 23,000

Total 161,317

The value of this is about 603,0001. The Chusan
also sailed from Port Phillip on the 3rd of August
for Singapore with 14.291 ounoes ; and the Volga,
for Callao, on the 2nd of August, with 2,600 ounces.
In addition to the demand for silver for India and
China, which continues unabated, there is a con-
siderable inquiry for this metal for transmission to
Hamburg and other points of the continent. In
consequence of the tightness of the money market
at Hamburg, shipments of silver have been nude to
that port today. Under these circumstances silver
his experienced a rise of ,td. per ounce, the present
quotation being .ss. lid. per ounce standard for bars,
and 3s. per ounce for dollars.
Hamburg letters of the 23th inst. report much ex-
citement on that ex change, with money obtainable with
difficulty on discount at 6 per cent. and upwards.
Continued shipments of silver to Copenhagen tended
to aggravate the pressure. The stock market was
much depressed, owing to several failures (to two ofi
which attention was drawn in the Daily Nein of
Wednesday last). In the produce market nothing
was doing, except in grain, which showed an upward
tendency. These letters report the death of Senator
Merck, in his 84th year, one of the oldest and most
respected merchants of Germany.
In the market for foreign exchange to-day the ten-
dencv of quotations was rather downwards, except
for Paris, on which city bills were in better supply,
especially at one month's date. This exchange may
therefore be queed a shade higher for short paper,
whilst the three months' quotation is unaltered. In-
telligence of a fall of full one Schilling in the ex-
change at Hamburg on London had a corresponding