The Express.
London, England, 1853-02-02 00:00:00

the Price closed, *with a steadier appearance, at
99 3-16 to 1 for money and the 10th of February.
Stock is atili wanted in this market. On the whole
business was far from active, and chiefly for money.
The official business report includes :—Three per
Cent. Consols, for money, 991, 99, 1, s 1 ; ditto, for
account, 99, 1. Three per Cent. Pt:educed, 995,
1001. Three-and-a-Quarter per Cents., 103, 25, 35,
3. Long Annuities, 1860, 61. South Sea Stock,
1101. Bank Stock, 2285.
There was a further fall of 2s. in Exchequer Bills
to-day, sellers pressing up to the close of the market.
The final quotation was 555. to 595. prem. India
Bonds were marked 70s. prem.
The foreign stock market is very dull. Spanish
and Gmnadian Bonds were flat, and Mexican
steady. Sardinian Bonds closed better, reaching
041. Turkish scrip receded to dis., owing to the
news of the defeat of the Turks by the Montene-
grins, and the absence of any announcement re-
lative to the re-imbursement of the first instalment
of the loan. Dealings are recorded as follows :
Brazilian Old Five per Cents., 102. Chilian Six per
Cents., 107. Dutch Two-and-a-Half per Cents., 66;
ditto, Four per Cent. Certificates, 975, 5, 1. Ecuador
Bonds, 51. Grarada Deferred Bonds, 105. Peru-
vian Deferred Three per Cents., 611. Sardinian Five
per Cents., 941, 94, 941. Spanish New Deferred
Three per Cents., 221; ditto, Passive (Converted),
35 • the Committee's Certificates, 45 per cent. Swedish
Loan, 11, 2 dis. Turkish Six per Cent. Scrip, for
account, 14th Feb., 1 die.
Mr. Richard Thornton, in his capacity of chairman
of the ciminittee of Portuguese bondholders, has
drily lodged his protest at the Portuguese Fivancia'
Agency, through Mr. Dennison, the notary, against
the compulsory deduction of 25 per cent. from the
dividend due the Ist January', i 833, and also against
the absolute non-payment of any portion of the two
years' dividends that had previously accrued.
The committee recommend the bondholders to
take the 75 per cent. of the dividend in part
payment of their claim, but not to part with their
original securities by joining in the new iniquitous
conversion lately decreed by the government of
Portugal, without iu any way asking the consent of
the creditors. Some of the bondholders appear to
be under the impression that they cannot receive any
dividend whatever unless they acquiesce in the con-
version, but this is a misapprehension. The Portu-
guese government directs, with unparalleled effron-
tery, that such bondholders as shall refuse to bring
in their 4 per cent. and 3 per cent. bonds for conver-
sion arbitrarily into a 3 per cent. stock at par, shall
nevertheless be considered as having accepted the
conversion, and shall in future receive only the re-
duced rate of 3 per cent. It is of course as much
in the power of the government of Portugal to
make a decree of this kind, as it would be
for them to go one step further and repu-
diate the debt altogether, but that dishonest
state is yet powerless to compel its creditors
to part with their bonds, which it is to be hoped
they will one and all retain, as it cannot be supposed
that the present flagitious and unconstitutional pro-
ceedings of Queen Donna Maria's government can
meet with permanent success. We understand a
memorial, calling the attention of the British go-
vernment to the flagrant violation of the rights of
British subjects, holders of Portuguese Bonds, has
already been drawn up, and will be presented oni
the meeting of parliament.
After the official hours this afternoon, there were
buyers of Australian Agricultural shares at 233; ex
the new shares the price was quoted 75 to 85.
Sales of South Australian Land shares were pressed,
and the price fell 41., closing 43 to 45. The shares
of the London Chartered Bank of Australia were
rather firmer ; and those of the Union Bank of Aus-
tralia 10s. lower than yesterday. In addi-
tion to the dealings elsewhere recorded,
there were transactions as follows :—Char-

tered Bank of Asia (51. paid), 4 ; Provincial
Bank of Ireland, 481; Victoria Docks (21. paid), 3,1
4 ; Crystal Palace, 5 ; Peninsular and Oriental
Steam, 87 ; Royal Mail Steam, 821, 82 ; Scottish
Australian Investment (U. paid), 3. There were
also dealings in Southampton Dock shares at 39.
These shares have undergone a very remarkable
fluctuation within a comparatively short period. The
price, with 501. paid, was quoted twelve months ago
only 18 to 20, and, after ascending steadily to 43, has
since slightly receded again. The earnings of the
Company for nine years show a progressive increase,
being as follows :—ln 1844, 4,0181. ; in 1845, 8,9771.;
in 1846, 13,2031. ; in 1817, 17,3341. ; in 1848,
19,5341. ; in 1849, 20,5431. ; in 1850, 20,6141. ; in
1851, 26,3911. ; and in 1852, 30,1501. Holders express
a confident belief that the future earnings
of the Company will experience a great
augmentation, owing to the preference given
to the port of Southampton by the several
steam packet companies, in addition to the increas-
ing trade with France. The Peninsular and Oriental
Company have just doubled tho number of their
vessels upon the Alexandria line, and the large fleet
of the General Screw Steam Shipping Company has
only commenced running this year. In addition to
this, the government has adopted Southampton as an
emigration port. Ebro Canal shares are quoted
to 11 prem. ; Chiriqui Road, pal: to prem. ; French
South Eastern Railway, g' to a dis.; London Bank
of Australia and India, dis. to par. At the close
of business, the shares of the Scottish Australian In-
vestment Company were quoted 11 to 11 prem., ex
div. and ex new.
In the market for foreign exchanges this afternoon
the change in rates was confined to Austrian places
and Frankfort, which were higher, there being a
fair supply of bills. The rates on Paris, Amsterdam,
and Hamburg were unchanged, although the ten-
dency in the last-named case was slightly upwards.
On the whole, therefore, this market may be said to
remain in an almost stationary position. Our list of
the prices negotiated is as follows
' " •

- _
Time. Prices as negotiated this day.
Bilk and IL Money.
Amsterdam pert Snort 1111. le ay. ... 112. 174ete.
Ditto
Rotterdam - lint 19letv.
,f,

intwerp
Bromide -25 fr. 30 a.
Ramberg and Altura „ „ 13mos. 61 sold. :3mce. 6 ash.
at. 'Member/ per ruble „ 581 canoe ... Dli pence
Carla per X Skort 25fr. 21c. ... Mfr. 071 c.
Ditto „ 3 Months Mfr. 271 e. ... 25fr. 800.
Marseille, „ „ Mfr. 271 e. ... 25fr. 30c.
Frankfort-on-the-Maine per £lO „ 11918. kr. ... 1190. kr
Vienna (effective) pert „ 116. kr. ... 116. Bkr.
Triune
Madrid per dollar ~ 501 pence ..301 pence
Cadiz. 99 , 501 pence ... 501 pence
Bilks°
99 ,
50 pence ... 59 penes
,
Bendene. „ „ 501 peace ... 50 pence
ral."
, pence ... 50 peace
Cillaslai
idebeen
Ma ,, 251 r. 40s. ... 2llx. '
per tiled „ 411 pesos ... 411 penes
per ounce ~ 124 pence ... 124 penes
IMO& „, 1244 peace ... 1241 pesos
I Was- per midst 90 days dale 55 penal .. 53 mace
0103359. „ „ 53 pence ... 59 mace
The Colonial and Asiatic Review for February
contains a valuable article on the Indian railway sys-
tem, expoaing the mismanagement of the East India
Company in its negotiation. with the several railway
companies that have been formed from time to time,
and three of which are now actually engaged in the
construction of distinct lines. The object of these
lines is shown below :