The Express.
London, England, 1853-09-23 00:00:00

MONEY MARKET.

THURSDAY Reams°,
The funds to-day have again fallen i per cent.,
making a fall of one per cent. in two days. The
chief depressing influence is still exercised by the
eastern quarrel, which was to-day viewed as more
threatening than ever. Various disquieting rumours
were at the same time circulated, some of which re-
ferred to a modification of the British cabinet, and
others to alleged movements of our naval forces.
Apart, however, from political apprehensions, sales
, on backing account continue, sod the broker who
acts for the government and for the Bank of England
is also a steady seller of stock from day to day.
The accounts of the progress of the potato disease
in Ireland also tend to aggravate the prevalent feel-
ing of gloom. At the close the tone of the funds was
weak. In the afternoon it was reported by tele-
graph that the Paris bourse of this day had given
lway to the extent of about a quarter per cent. Coa-
tinued and decided depression in English railway
stocks formed also a feature of the day'. market. A
I general impression prevails that the next, and pro- ,
bably succeeding returns of the Bank of England,
will prove of a very uufarourable character.
Consols opened 94/ to 93 for account, rallied to
93, "buyers," but soon began to show weaknve
&aim, and at half-past two fell soddenly to 941 to 2,
beim/ a ame time 941 to 4.
lAt threesetteellitilrge °Scudclose)) a rally to 941 to
for money, and 941, to 1 for the 13th (ktober, had
succeeded ; but the market finally left off at a re-
daction of 1 front this range. the official business
list is as follows:—Three per Cent. Consols, foe
money, 941, 1,1, 4,4, 1; ditto for account, 13th
lOctober, 944, 93, 941, 1.
Exchequer Bills closed Is. lower, at Bs. to 4s.
dia., and India Bonds 2s.lower, at 2s.dis. to 31. prem.
Foreign stocks were fiat, but not much changed in
price, sales not being premed. Peruvian Actives de-
alined again I per cent. Russian stocks are flat,
and generally it may be said that sellers could only
have realised reduced prices. In the present state of
polities there is little disposition to operate in this
department ; but the market derives support from
°caissons' purchases of the more speculative descrip-
tions on Dutch account, induced by the comparative
ems of money in Holland. At 4 o'clock Mexican
Bonds were quoted 244 to 23 ; Spanish Deferred,
221 to 4; the Committee's Certificates, 64 to 6
per cent.; Peruvian Four-and-a-Half per Cents.,
73 to 73 ; Granada Active, 211 to 224; ditto De-
ferred, 9to 91. Russian Fives, 113 to 114 ; ditto
Four-and-a-Half per Cents., 99 to 100. Sales are
I recorded as follow* :—Brazilian Old Five per Cent.
Bonds, 1001; ditto Four-and-a-Half per Cents., 1852,
971, 98, 971. Dutch Two-and-a-Half per Cents.,
631; ditto Four per Cent. Certificates, 97. Equador
'Bonds, 41, 4/. Mexican Three per Cents., for account,
30th Sept., 244, I. Portuguese Five per Cents.,
1841, 46. Sardinian Five per Cents., 921, 3.
Spanish New Deferred Three per Cents., for ac-
count, 221.
The money market to-day was much the same as
during the last few days. In some quarters first
claw paper has been discounted below the Bank of
England minimuna, but these seem to be exceptional
operations. In Lombard-street the rates of discount
appear to be rather above than below the nominal
rate of the Bank, and in all cases there is a decided
disposition to exact much higher rates on all long
dated and inferior paper. A report is current that
the Bank has rejected a good deal of Australian
paper. If true, this would be a significant circum-
stance, and would tend more than any other consi-
deration to check the mercantile speculation con-
nected with Australia, which it is to be feared has
already been carried too far.
The tallow market, to-day, was again very excited,
owing to the prospect of war in the east of Europe.
The price of Ruesian again rose ls. per cwt., closing
at 365. for autumn delivery.
The dividend falling due the 27th inst. on the
New Brunswick Six per Cent. Debentures, nego-
tiated through Messrs. Baring, Brothers, and Co., is
duly advertised for payment.
Land shares to-Gay were heavy. Peel River
closed ato f, dis. Agricultural, South Australian
Land, and Van Diemen's Land were severally 11.
lower. Bank shares were decidedly heavy, and, in
many cases, quoted at very wide " margins."
Crystal Palace shares closed 14 to 14 prem. The
shares of the new steam companies are all at a heavy
discount. Australasian Pacific Mail (121. paid), mark
74 • Australian Royal Mail (81. paid), 3to 34 ; Ge-
nen' Screw Steam Shipping (161. paid), 114 to .2 ;
and North of Europe Steam (101. paid), 6 to 61.
Shares of the Aberdeen North American Investment
Company are quoted ss. to 10a. per share.
It is with regret that we record the death of Mr.
John Studholme Brownrigg, who has been governor
of the Australian Agricultural Company since 1842,
and director since 1829. The deceased was also
chairman of the Peel River Land and Mineral Com-
pany. His death, we understand, was rather sudden.
Annexed is another letter relative to the Buenos
Ayrean debt, couched in a strain different from that
adopted by the correspondent whose complaint ap-
peared in our paper of the 20th. We must say,
however, that we cannot coincide in the view of our
present correspondent. Here in the case of a debt upon
which dividends have been suspended for 26 years,
till the overdue interest actually amounts to 1501. per
1001. stock ; whilst the hardship of the case is aggra-
vated by the fact that the revenues of the 'tee have
been ample, if properly administered, to meet all
claims arising out of the foreign debt, which only
amounted at the outset to one million sterling. At
present the entire conduct of the affairs of the debt
is reposed in a committee, of which nothing is heard
from month's end to month's end, at a time when so
much attention is turned to the political agitation
prevalent in the state in question. In fact, the com-
I
mittee and the bondholders seem to be equally un-
I furnished with information as to the position of
their affairs, and unless the bondholders bestir
themselves, there seems a possibility of the settle-
j went of the debt being indefinitely postponed, per-
j haps for another quarter of a century. Under such
circumstances can it excite surprise if bondholders
show impatience? They ought certainly to have an
accredited agent in Buenos Ayres ready to avail
himself of any favourable opportunity, in the interest
fof his eonstituents,as politics become more aettled.The
I question of the expense of such a commissioner is
' one of comparatively trifling importance. The agents
' sent out by the Messrs. Baring' returned to England
months ago, and the bondholders are now altogether
unrepresented at Buttnos Ayres.

BUENOS AYRES BEFIT.
TO THY IDITOiI OT THY MIMS.