The Express.
London, England, 1848-01-03 00:00:00

MONEY MARKET.

SATURDAY E VV.; IN G.
Commercial disasters begin to multiply on the
Continent as well as at home. From Frankfort we
have accounts of the supei...ion of four banking and
commercial establishments of importance ; and of one
of less consequence in II =burg. The Frankfort
failures are ,the house of (lontard and Son ; of S. L.
Flershcim, stated to have a branch firm in one of the
manufacturing towns of this country ; and of J. Von
Haber, branch of the chief house under the same
name at Carleruhe, whose stoppage in fact brought
about that of the Frankfort branch. A great Vienna
firm it was reported would be a sufferer to the extent
of a million of guilders, or say between eighty and
ninety thousand pounds, by these casualties. Such
was the universal distrust which prevailed in conse-
quence, that the merchants and bankers of Frankfort
had come to the resolution of neither accepting nor
paying any bills drawn upon that place, which might
be referred to them by their correspondents in case of
need, or ns otherwise they were in the habit of
doing for their honour when dishonoured by the
parties on whom drawn. • The failure of
the house of M. Von Haber is attributed
to the large amount of capital withdrawn from regu-
lar banking and commercial business, and invested in
an extensive cotton spinnery of which he is the pro-
prietor in the neighbour! cod of Carlsruhe. It is
stated that within the last two or three years the spin-
ning concern had required and absorbed no lees than
one million guilders of additional capital from the
house. It is to be feared that these continental ca-
tastrophes may be the forerunners of many others.
These unfortunate occurrences, with the news of
the demise of the Princes Adelaide, who was well
known to exercise great influence over the mind of
her brother, the King of the French, and to be con-
sulted by him on all special occasions, served to main-
tain that depression in the funds, which the favour-
able nature of the Bank returns, published this morn-
ing, might else have assi.ted to dissipate in some de-
gree. Consols were first named 85,1 fur the opening,
but were sellers afterwards at 85 ; they left off,
however. at 85 to „ the market flat and with trans-
actions few and of no moment Reduced Threes,
84; to 5. Three-and-a-Quarter per Cents., 86 to 1.
Bank Stock, 187 to 8. L \ chequer Bills, 9s. to 13a.
premium. India Bonds, par to 3s. premium.
The dealings in foreign stocks were remarkably
few, but the market generally higher improved
quotations. Spanish Fives were quoted at 181 to 191,
the Threes 281 to 91 ex dividend. Portuguese, 23 to
4. l)utch Two-and-a-Half Per Cents. were higher at
541 to lex dividend, the Fours 8.51 tot. Belgian
Four-and-a-Half per Cents., 88 to 90. Chiliad, 88
to 92.

The amount involved in the failure referred to yes-
terday of Durant, Miickebzie, and Co., American
merchants, has been extremely exaggerated in the
Times this morning at 70,000/. It is not believed in
quarters likely to be well informed that the liabilities
will reach to more than one.third of that sum.

ENOLIB4I FUNDS.
Dank Stock. 1871 I Cumnts for openitur. 84 5
3 per CI. Ite.l. Atm... 85 43 Each. MU £I.uOU. 2.1.. 13 913 pm.
Now 311.er Cent. Ann.... r.it 6 19tto £5OO 12 9 pm.
Dulls ltont.l4, £l.2Un, 1 tan. Ditto Small, 14 pm.

MORETON FUNDS.
6 per Ct CbillAn likk, 864 4 t per Ct Belgian Bonds, et 25
3 pur Cott Pteutlab Bwl., 19 si. fTSAICP, it)
on. dlr. 4 I.cr Ct. DutehCertilleste‘ 84•1 bi
IICHADOEB AND STOCKS ABROAD.

PAILIS.DsaiI. F7
3 per Celia
3 Do. New Least 66 lb I Tof
44
tt • I m U.
Belgian 6.1646 A money.
Do. 6.1843. 966 ..2et ..... • _

urn. I 73-13-71'
1: lin 111 lit I Igrs
Roman Lain
m,rury!l Tank Shores

AIIVTVIIII,4. JAN. I.—Act. Debt. Trrosanill-a.Half pee ('.cots..
541,5,,6544 ; Ditto, Three per Coots— Ditto. Four Der Conk'. 651 9
Ainort. ic4., Thr0e...414.11W par Cents., a. 5 ; Corn. Comp., Fnur •
a Ilalf per Cetus. 1.31034 ; IP& Fire per Cents. lArdoinal, 14 13-16
15 144 ; Dino, Collinitod. 1 14 7.16 ; Three per Cents., 3,4;
Ditto, Intsrlor, 25 1-16 25 3.16.51.16; Coupons lArdoinsl. 11t • Anelo•
Purtueoese Throe per Cents. 114 ; Ditto, Four per Cent.. 211 ; Min-
den Five per Cents. 11760, 1610, 1044 ; Ditto, Fire Per Cads. (1014,
181 P), 1034 ; Idtto, Corte. Fire per C 014,11631, 18336 961 ; Ditto, Four
pet Cents., 861' Ditto lettlegLl. Four per Cents., 01$1 ; Americen Bank.
34 ; Austrian Metall., Floe pra• wig Tit...WM.41.11M(
per Ceuta.. 491 Co 4 46 1546; MeliCali,lsl. Eiehallge on London. of
sight, 12.10 ; two months, 1.2.10 ; Ihroburg, 25; two months, 34.74 ; Fad..
54 60 ; two month., 66 12.
Incur, rowr, Drr. 3n.—Aunt. Five per Cent'., 10311.11]..; Ditto
Four two Ceuta., 91 bills ; Ditto Three Ixo Cents., 6541111•; Bank of
Vicuna, 1,920 ; Pneoian Prim. Nit., 90 ; Wallach
Al money : North Bail., 571 money ; Frankfort Throe per Cents!li.k
hilts ; Taunus 341 t ham, 351 money ; Spanish Three per Cent..
Intenori, 144 bills, 21 infamy : Ditto Antoine., 17$ bills, 17 money.
Elvilange on London. short dates, 12-21 hills ; too months, 1201 bills!
ISVNLIN, I/EV.3O.—SL Sehuld Sch., lirenand.a.lialf per Conte.,
Esrlanee .0I London. 6.274 6.274 ; Muddy& three moot o. 1511 151 i ;
Puri;:, three mprithA, ali.
1/1.0. 24.—A merlin Fund., Five per Cents., 104 ; Ditto,
four per Cent., '3l ; Ditto, Three per lientA. 65; Ditto, Tenancl4.l.lalf
pen per Cents.. 6
Bacsseta,l; Linn of leU4, 156 f ; Ditto, 1839, 113 t ; Rank Sheres,l,6l2;
I.3derhaty, snte. 31.—Lean of 1440. 1`7.5 4; Ditto, 1842, 974 ; Ditto,lll44,
; Ditto, 1831, ;; City Loan, 1043. 94935. Llama* on Lou-
don. 25,3.
An rww, I.—F.zehinge on London, 25.621 two months,
25.374 421.

MBETING.—LiVnIUMOI., CROSBY, AND SOtT'l
--
General Cr •
the chair.—The report stst..d that the expenses or„I.hY„...i;t4
ing the act amount to 8,1271., exclusive of 4,0901. puid is„;
award to the West Lancashire Company. wu‘o,i7
ppanresey,n9t7327l.enTt
To meet
in
ettn,ge,wbeamnkentots theverreji.i:ft:lntryrni
purehue of land a call would be made of 21. per share, es
able in June next; and the directors express, 1 an 0163 j.
that no further call would be made in the pr. sent yeil
In consequence of the depressed state of trade the di.
rectors did not recommend that the whole of the
line should be undertaken, but that the part I,tween
port and Waterloo (the latter place about five from
Liverpool) should be immediately commenced. must of the
land had been given gratuitously, and Mr. Bidder, the ~,
Eineer, estimated the cost of constructing this porno,' of the
ne (I 2( miles in length) at M 5,7501. Mr. Bidder thourht
there would be no difficulty in opening it before June• ge„,
fore determining, however, on this, It would he necesnry to
have, at a future meeting, the consent of two thirds of the
shareholders. After a pod deal of di,euseinn the report
was unanimously received, and the meeting adjourned.
MISCELLANEOUS NEWS.—WEsr UNION,
—The rumour that there will shoo tly be a call on this list
appears to be without foundation, as the directors hue ae
intention of melting any demand upon the shareholders foe
a considerable period. The Cleckheaton Valley Brandi.
advancing fast to completion, and may be expected to bs
opened in three or four months. This branch of the West
Riding Union is in one of the most densely populuted parts
of the district, and likely to prove remunerative to the lan.
cashire and Yorkshire. When it is opened the proprietors
of the West Riding Union will be entitled to a dividend oe
the cost of construction. . .

CALEDONIAN.—It is expected that this important Hoe wat
be opened for traffic, from Carlisle to Edinourek and (Gas.
gow, about the 20th January. The government inspeetor
examined the line last week.

LEEINI AND TNINAN.—Afar I good deal of unexpected
delay, the portion of this railway, which lies between the
town of Think and the city of Ripon, will he opened
during the present week for the conveyance of coal, corn,
and other merchandise.

-- • .....
RAILWAYN OPENED IY 1847.—The following is a listed
the railways opened in 1847:—Aberdeen, 20 miles; Birken.
head, Lancashire, and Chi ,hire, d of a mile ;
40 miles ; Cockermouth and Workington, 81 miles; Dublin
and Drogbedis (Howth branch), 31 miles ; Dundee, Perth,
and Aberdeen Junction, 205 miles ; Edinburgh and Glas.
gow, 6 miles ; Edinburgh and Northern, 29 rules; Eastern
Counties, 205 ; Eastern Union, 31 ; Glasgow and Ayr, 13
miles; Great Southern and Western, 661 miles; Dreg
Western, miles; Kendal and Windermere, 101 milt,
Lancashire and Yorkshire, If mile ; Londonderry ani
Enniskillen, 15 miles; London and North-Western, 50
miles; London, Brighton, and South Coast, 301 milts; Loa.
don and South-Western, 83 miles ; Manchester, Sheffield,
and Lincolnshire, 2 miles ; Midland, 31 miles ; Midland
Great Western (Irish), 36 miles ; Norfolk, 23 miles ; Shrews.
bury and Chester, 6 miles ; South-Eastern, 15 milts ; South
Devon, 85 miles; Taff Vale (Aberdare line), 10
Whitehaven Junction, 12 miles; York, Newcastle, and Ber-
wick, 72 miles ; and the York and North Midland, 48 miles.
The aggregate length of new railway opened fur traffic in the
United Kingdom during the year 1847 appears to be 730
miles—of which 616 miles are in England, 127 miles in
Scotland, and 108 miles in Ireland. It is estimated that
there are now about 150 miles of railway, independent of the
above, nearly ready to open for traffic. These companies
have called up about 22,230,0001. during the year 1817.
RAILWAY TkAFFIC Yutt 1847.—1 t appears that the traffit
on railways in the United Kingdom, during the year 1817,
amounts to about 8,960,0001., being an increase over that of
the preceding year of 128.3,0001., or nearly 17 per cent. The
aggregate length of railway over which the traffic was con-
veyed, in the first month of 1847, wan about 2,710 miles,
and, in the last month of that year, about 3,420 miles.
Taking the average length of railway for the year at 3,100
miles, it would give 2,8871. as the average trsific per mile
per annum.
MARSEILLFS TO ATIGNON.—On Christmas-day M. Tall.
bet, one of the directors of the Marseilles to Avignon Rail-
way, and some other gentlemen Connected with the under-
taking, made an experimental trip from Marseilles, through
the tunnels of the Nerthe and St. Louis, and across the valley
of the Aigalades to Arles. Everything passed off satisfactorily.