The Express.
London, England, 1847-11-06 00:00:00

MONEY MARKET.

FRIDAY EVENING.
One only casualty has been reported to-day in the
commercial and banking world. The old established
house of Messrs. Judah Cohen and Sone, in the West
j,ndia trade, have found it =enemy to bring their

affairs to a termination. It is believed, however,
that the amount of liabilities cannot be very consi-
derable, as for some years past their business has
been in course of contraction, whilst at the same time
they have been embarrassed with landed property in
the West Indies heavily encumbered. As usual, re-
ports of other sinister occurrences were not wanting,
in respect of which it need only be said that they
rested on no foundation for the most part.
The funds were all in fluctuation to-day. In the
morning the absence of any untoward event,combined
with various purchases of money stock, of which
100,0001., understood to be for account of the Scotch
banks, and made by their accredited broker, carried
Consols up to 83".4 tor money, and 831 for account.
As the purchases ceased, however,the sellers recovered
their boldness. The reported arrival of the Hamburg
steamer, with 23,000!. only, instead of the 80,000/.
expected, furnished a pretext of discouragement for
selling, which was assisted by the failure of the West
India house referred to, and unfounded rumours of
other embarrassments elsewhere. Sales for ac-
count were made to large amounts, and prices
went down to 821 to for money, and 821 to 3 for
time. At the regular close of business Consols had
recovered only, to 82 to 4 31 for money, and 83.1 to 1
for account. Upon a review of the circumstances of
the day it may be concluded that, considerable as the
changes of prices may appear to be, they were in
truth only of the nature of what may be termed
jobbing fluctuations. The chief canoes lay in
the Stock Exchange itself, and were almost
unconnected with any provocative influences ex-
ternally. Specalation once set in, which has
swelled to such a flood as that which has been wit-
nessed for many months, is not likely to subside
all at once. When the original incentives have dis-
appeared, or are gradually in course of extinction,
speculation will still for a considerable time remain
with a show of equal vigour, and speculators, in
default of victims out of doors, prey upon each other.
Reduced Threes left off 811 to 2. Three-and-a-
Quarter per Cents., 821 to 3. Exchequer Bills, 17s.
to 13a. discount. India Bonds, 20s. to 235. discount.
Bank Stock, 184 to 6. India Stock, 228 to 230.
Foreign stocks were quoted rather better, with an
appearance of more fu moms in the early part of the
day : but as the Cunsol market became weaker, they
drooped proportionately. Spanish Fives were 1 lower
than the opening, at 161 to 1; the Threes, 261 to 7.
Portuguese, 21 to 2. Dutch Two-and-a-Half per
Cents., first called 531 to 1, declined to .53 to ; the
Fours, 811 to 21. Mexican were lower at 151 to 16.
Brazilian, 75 to 8.
Foreign exchange was slightly in decline to-day,
and though in favour of sellers, yet not quite so
favourable as before for the import of specie or bul-
lion. There remains still sufficient inducement in
present rates to promote metallic imports. Oa
Amsterdam the negotiations were 12.8 to 1; on
Rotterdam, 12.81 to 9 ; on Antwerp, 26.10 to 20 ; on
Hamburg, 13.15 to 14 ; on Frankfort, 124 to ; on
Paris, 23.971 to 26.05; on Vienna, 10.18 to 22; on
Leghorn, 31.50 to 70 ; on Naples, 38; to 9 ; on Madrid,
461—a1l at 3 months. On Lisbon, at 60 days, 511.
The mail steamer from Hamburg brings exchange
on London one half-achelling lower also. Discount still
standing, as for some weeks past, at 6 per cent. It
is evident from the high rate of discount there, where
I the scarcity of money has not been complained of,
that the banking houses are disposed to render bul-
lion dear to the exporters. In this respect they only
take the legitimate advantage of the state of markets.
Bullion is wanted abroad, and the price is naturally
raised upon a commodity in demand. On the other
' hand, the mercantile orders from hence to Hamburg
houses were imperative ; they were required to remit
gold, whatever the cost, for debts to be received, bills
upon London houses being a prohibited remit-
tance. Of course this is readily explained by
the distrust which reigned when these instruc-
t tions were sent out, and which reigns now, though
somewhat mitigated, between merchants here of each
other, and of those abroad who directly or indirectly
might be implicated in recent disasters here.
There Ilamburg letters refer to advices from St.
Petersburg, which announce that by the close of the
season, from now to a month hence, shipments of
gold to the value of from 700,000/. to 1,000,000/.
would be made to, and might be expected in, Eng-
land. Orders to that extent had been received from
hence in St. Petersburg, whence equally bills were
not to be sent.

It may be accepted as fair evidence that money is
becoming more easy, and confidence on the revival,
hat Messrs. Overend, Gurney, and Co., the great
discount firm, have given notice to-day, that in future
they will not give more for money on call than 5 per
cent. The rate allowed by them previously was 6
per cent. ; therefore money is now 1 per cent. cheaper.
The Scotch Bank, about which rumour was so rife
for some days, and which was absurdly said to have
received assistance from the Bank of England to the
extent of 800,0001., has, it is now stated confidently,
never had a less money balance in the hands of
Messrs. Overend, Gurney, and Co., than 80,0001.,
besides one or two hundred thousands of pounds in
securities.

In exemplification of the absurdity of rumours
which have been circulated to swell the late money
panic, and promote the sinister views of speculators
in the funds, it may be mentioned that Messrs. Little-
dales and Co., the great broker house of Liverpool,
have, in a circular to their friends and connexions,
entered into certain explanations of the circumstances
of their house, and of their recent application to, and
transactions with, the Bank of England. From this
document it results that on their interview with the
directors of the Bank they made an exhibit of their
bills and securities on hand, and inquired only whether,
if necessary, they might be allowed to depend upon
assistance for the renewal of their own acceptances
lying in the Bank. They acknowledge to have
been received with the greatest courtesy by the Bank
directors, who granted them a credit of 100,0001. at
once, which was all that was asked for. As yet,
Messrs. Littledalea state they have not found it neces-
sary to draw upon this credit at all. So much for the
stories elaborated at the time with so much purely
inventive detail, and published, about the loans of
money, the loan of stock, and the renewal of the bills
of the house by the Bank, to the extent of no less
than 300,0001.

From Salisbury, it is stated, under date yester-
day, that a jury had been impannelled under a writ
of extent in aid of the crown, for monies due by the
Messrs. Brodie, and property of theirs :attached in
consequence. The under-sheriff observed• to the jury,
that property to the following amount had been
seized—that there were no other available securities
yet found—that there was no land nor buildings
likely to benefit the estate, all appearing to be either
mortgaged or secured on life annuities.
E e. d.
Notes and good checks 1,601 1
Old gold
Shop stock at W. B. Smits% 1,720
Pruning-0121re, stock, kn.
At Charles 0. Beadle's first WWI sonar
Second cellar

Spuds
w. Bird Brodie's furniture, plate, carriages, horses, fers 1,050 0 0
Chas 0. Brodie's furnitun, &a. 420 0 0

Total £10,27515 5
The jury gave a verdict for the sums claimed, with
expenses, as follows
:
For ntwinft. bank deposits ... 873 5 2
Exetre department
548 0 0
Pen,laner's payments ... OBl2 4

1,519 17 6
Leaving the balance of, only, for all the other creditors £9,755 17 11
It is now feared that there will not be Ia in the
pound. A large mill had been taken possession of by
the sheriff, and a stationer's shop, conducted by Mr.
Hearn, at the corner of Catherine-street, was also
closed yesterday, in which Mr. Brodie was the principal
shareholder. The jury had each 3s. awarded them—
which they unanimously agreed should be given to a
poor man, who has been thirty years a servant of Mr.
I3rodie's, and every shilling he possessed was in the
notes of that bank, himself in the last stage of a con-
sumption, having a wife and seven children, four of
them at the present moment lying ill of a dangerous
fever.

The Bank of England returns for the week ending
the :10th ult., show, as compared with those of the
week preceding, the following results:
Clrculutlon Woe £22,009,490 .. .. Increase £144,045
(3relliilUol3 active 20,812,758
Public doprodt•
Other depoml4. 8,911,442
Governen. at wuritira In

banking tl/7artment . 10,011,907
Other securities
Coln and Million 8,434,474
heron day and other WI. 931,035
The rest
The notes, constituting, before the late suspension
of the Bank Act, the only available fund, excepting
half a million of specie, of the Bank for discounts and
to meet depoeits (unless by sales of sonorities), were