The Express.
London, England, 1853-04-12 00:00:00

be a far better one, inasmuch as it possesses several
advantages not derivable from the loan. Ono of these
is the collateral guarantee afforded by the muni-
cipalities and communes through which the line
passes ; and another consists in the fact that the
capital, viewed as a loan to the government, is
further secured upon the railway itself, which is a
trunk line, without competition, and supported by
the government and court party. The project, how-
ever, appears to be prejudiced by the fall in the cer-
tificates, leading to an apprehension that the hopes
entertained of Spain's meting out a tardy measure of
justice to the holders of those vouchers are yet
doomed to disappointment. The shares were quoted
i to 1 prem.
An unfavourable effect has been produced in the
railway market by the publication of the adverse re-
port of the pariiamentary committee relative to
amalgamation during the present session. Apart,
however, from the immediate effect of this disap-
pointment, and the temporary injury undeniably in-
flicted on such companies as the North Staffordshire,
Ambergate, &c.,which are awaiting fixed guarantees,
many parties maintain it is quite an open question
as to whether the railway interest at large is not
benefitted by the postponement of amalgamation.
It is urged that several companies are for the time
prevented from entering into arrangements of ques-
tionable advantage, whilst further time is given for
deliberation as to the course of policy that will be
most beneficial to railway interests generally. It is
noticed as a favourable feature that the introduction
of competing projects is at the same time suspended,
and that none bat bona fide undertakings, having
their capital fully subscribed, will be allowed to pro-
ceed, according to the report of the committee. The
prominently adverse katnre, however, appears to
consist in the fact that the struggles between the
large companies will still continue. Apart from these
I considerations, the tendency of the railway market
has been evidently towards improvement, based
Enn the introduction of the government financial '1
, the effect of which must naturally be to
' inish the income yielded by government stocks,
and-relatively to raise the value of other securities.
Monday next, the 18th inst., has been appointed
settling day for the shares of the Royal Danish Rail-
way Company and the Isle of Wight Railway Com-1
pany. The shares of the first-named undertaking
are to be officially marked, but not so the latter.
All Australian Land shares were lower. Agricul-
tural', after falling to 90 to 95, closed 94 to 97. Bri-
tish American Land were again higher, leaving off
74 to 76. Shares of nearly all the sew colonial'
banks showed a downward tendency. Shares of
the Bank of British North America have been
done at 60 ; Colonial Bank, 20 ; London and West-
minster Bank, 341, 35; Provincial Bank of Ireland,
481 ; Union Bank of London, 17a ; East and West
India Docks, 165; London Docks, 126 ; St. Katha-
rine Docks, 991 ; Victoria Docks (41. paid), 6:,1 ; do.
New (21. paid), 41: Australian Royal Mail Steam
(61. paid), 41; Crystal Palace (51. paid), 61, 1; Ge-
neral Screw Steam Shipping (121. paid), 111;
Peninsular and Oriental Steam, New Shares (251.
paid), 46.
The shares of the Grand Central Railway of
France, after rising to 31 to 31 prem., closed 3 to
31 prem. Berlin Waterworks shares closed 1 to
1 pram; Frankfort and Wiesbaden Railway, par to
i prem. ; Melbourne Dock and Railway, par to 1
prem.; Roy al Danish Railway, 3 to 31 prom;
Oriental Gas Company, 1 to 1 prem.
Annexed are the latest quotations of foreign
bourses, as received by Mr. Reuter's telegraphic ex-
peas : Amsterdam, Saturday—Dutch Four per Cents.,
96 ; ditto Two-and-a-Half per Cents., 6.5. Spanish
Deferred Three per Cents., 241; ditto Three per
Cent. foreign, 48 ; the Coupons, 7 13-16. Granada De-
ferred, 11 11-16. Mexican Now, 27 7-16. Portu-
guese New, 391. Austrian Five per Cent. Metallics,
811. Madrid, Thursday: Spanish Home Three per
Cents. 431; ditto Deferred, 24 3-16 ; the Coupons,
41. Vienna, Saturday : Five per Cent. Metallies,
94 5-16; Exchange on London, 10.50. Four-and-a-
Half per Cents. Metallic., 851. Bank Stook, 1,414.
Exchange on Paris, 1291. Agio on Gold, 151; ditto
Silver, 91. Hamburg, Saturday: Spanish Three per
Cents., 41; ditto Deferred, 231. Frankfort, Satur-
day : Austrian Five per Cent. Metallies, 85,1. Spanish
Three per Cents., 44 ; ditto Deferred, 23. Berlin,
Saturday : State Debt, 93. Exchange 'on London,
6.221 ; on Paris, 801.
The subjoined calculations show the rate per cent.
per annum yielded by our government stocks at
present prices. To render the results strictly accu-
rate, the proportion of interest which may have ac-
crued since last dividend period should in each case
be taken into account :

Int. per cent.
Price. per annum.
100} £219 6
100 3 0 0

Three per Cent. Consols
Three per Cent. Reduced
Bank Stock (div. at the rate
of 7) per cent. per annum) 225 3 6 8
India Stock
Exchequer Bills March (in-
terest Id. per cent. Der day) 6s. prem. 110 1
Annexed is a statement (extracted from the Liver-
pool Weekly Share List) showing the rates yielded
by ordinary railway stocks at present prices, the
calculation being based on the dividends paid for the
half year ending the 31st December last;
Int. per eem.
Pres. Prise. RAILWAY. per annals.
174 Liverpool, Crosby, sad Southport S 3 101
101 lanion, Brighton, and South Coast 5 0 0
301 Yak and North Midland 4 IS 41
234 South Eastern
32 Midland Great Western—lreland
I I 4
ISt Fasten Counties
SI tendon and South Western 4 7 101
93 Dublin%%late
461 and Belfsst 4 6 05
93 Lancaster and Carlisle
105 Bristol and Ender 4 5 illa
761 Midland Stock 4 4 II)
IS York, Newcastle, mad Berwlek
$1 Great Southern and Western —lrean4
45 Midland, Birmingham, sad Derby
121 London end North Western Stock
141 London and North Western Fifths
37 Edinburgh and Move 4 1 11
181 East Lancashire 4 I 1
61 Glasgow and South Western
78 Lancashire and Yorkshire Stook
33 Caledonian
21 Great Northern
22 Chester and Birkenhead 2 10 41
All the above prices are cx div. It should be re-
membered that the dividends for the last half of the
year are usually larger than those for the first half.

THIS DAY.—Two o'CLocx.
The English stock market has been quiet to-day,
and a feeling of flatness pervades this and the other
departments of the Stock Exchange. Consols have
stood all day at 100; to 1 for money and to-morrow.
The settlement of the account engages some share of
attention. The Three per Cent. Reduced mark
99; to : ; the Three-and-a-Quarter per Cents.,
103: to 1; New Five per Cent. Annuities, 128; Bank
Stock, 225; ; India Stock, 260; ; Exchequer Bills,
June, 3s. to 4s. prem.; ditto March, 2s. prem.
The foreign stock market is similarly devoid of
animation. Peruvian Deferred is rather better, but
the fall in Spanish continues. Spanish Old Threes
mark 47; ; ditto Deferred, 241 to 231; the Certifi-
cates, 61 to 6 per cent.; Venezuela Active, 39; • Sar-
dinian Fives, 971 to fi ; Russian Fives, 118; ; Dutch
Fours, 97 to 97i ex div.; Portuguese Fours, 401 to
1; Peruvian Deferred, 64 to 65; Mexican, 27; to 1,;
Granada Deferred, 11l to 4 ; Equador, 51.

Goon FORTUNE.—It is reported in Lincoln that a
young man named Poole, residing in the parish of St.
Michael, whose wife died a few weeks ago, while examining
an old box which his deceased partner had purchased at an
auction sale a short time since, found an old note in t
crevice, which turns out to he a aote upon a London bank
for 701., the interest upon which has been accumulating for
48 years. It is said that there is every probability of Poole
recovering the whole amount.—Lineobehite Chronicle.
EMIGRATION IN NORTH WALES.— Considerable
emigration continues to take place from the various parts
in the northern parts of the Principality. During Inst
week, the ship Avon, belonging to the Messrs. Davies,
sailed front Menai•bridge, basing on board nearly thirty
emigran r, bound for Quebec. On Friday morning, for
Hind" the property ut Messrs. Owen and Sons, sailed from
Carnarvon with a large number of emigrants for Boston.