The Express.
London, England, 1853-11-04 00:00:00

Woe voted :
The silver medal to out-ousted chief boatman W. H.
Tredidgo, and a reward of Si sa. to himself end crew, for
bating, with the Bode new life-host, saved the crew of
the sloop Margaret. of Bideford, which was wrecked off
ths latrines of the former place on Sunday morning, the
9th ult. It appeared that while the vessel was endeavour-
tag to make the harbour the struck on what are called the
Chapel Rocks, near the entrance of Budehaven, the wind
being at the time strong, with an awful ground sea run-
ning, which is almost peculiar to this neighbourhood. It
is called the long Atlantic swell, and is described as being at
all times most dangerous. It is stated by those acquainted
with it that the destruction of any boat is inevitable
whisk should get within what is called the " mother sea"
Se ewe of these seas breaking. Seeing the state of the
imesk, Tredidgo, with his: two men, proceeded with
MN rocket apparatus to the spot, u:the vessel would soon,
bum her apparent dangerous state, go to pieces. Whsa he
embed at the place, he found that the sloop had bounded
tiff isel was rapidly sinking. Sir Thomas Dyke Aedand,
Boni M.P., to whom the committee voted their thanks,
Nein aloe OMB the catastrophe, immediately gave direc-
tions to have the new life boat, recently placed at Bode by
So above institution, launched, which having been done
Mg Maned by 1 redidgo, his two men and eight volunteers
pormaled without delay to the wreck, although there was
M tale due a tremendous swell on the bar, and many of the
slalngs saying that it was worse than folly to attempt with
SOilk hest to rescue the unfortunate crew, as she
lea l SOWN tented with such a sea. Nothing daunted
bream, the gallant men persevered, and managed
toyall tha boat out. As they were going over the bar,
eamiantered two very heavy seas, and the coxswain of
ospeolood his conviction that aothing but • life-
wad mice a life-boat as that in which they were then,
have faced such an awful sea. The two men of the
Misr having been taken from their beat, the vessel shortly
OM sank. Tredidgo added, that the boat had before
boa tried; that on this occasion her character had fully
Minuend every ezpectation, and had won the confidence of
Ism mew and all concerned. The boat is of Mr. Peake's
assistant master shipwright at her Majesty's dock-
Woolwich, and was built for the Shipwreck 'utast-
Ma'
y the Mesas. Forrestt's, of Lisnehouse.
• »ward of 11. 10s. was also granted to two men for
emir prompt and laudable services to a portion of the crew
et the brig Mary sad Anne, of Blyth, which was wrecked
as Cob Sedan Sands, in Carmarthen Bay, during a S.W.
slam end • tremendous sea en the 4th alt., when four of
bet mew unhappily perished. One of the salvors, William
Divine. Ming the perilous position of the persons who had
taken to the aldp's boat, that thiy would noon, from having
taken • wrong course, be among the breakers, there being
no boat near the spot to put off to point out to
them their error, immediately started off and continued
to run until he came to an available boat, which
was about a mile distant, and at once plunged into the
Myer although in • state of profuse perspiration, swan out,
tutomMsed the boat, and brought,her in, when another
young man, mused Jenkins jumped into her, and they
arrived with the boat just in time to guide the ship's boat,
which contained the master, mate, and one sailor, in safety
to a landing place.
A reward of 5/. was also granted to flee men, being the
ON, of the smack Seagull of Harwich, in consideration of
their praiseworthy services to the crew. coo • ' gof five
persons of the schooner Tine of Sunderland, which
was wrecked on the 11, ultimo at the entrance of
the Longssed. At dawn of day the smack's crew observed
the: a vessel bed sunk near the above dangerous place, and
that she bad a flag of distrsis dying from the foretop gallant
masthead. On approaching the wreck they found the crew
In the rises,. The wind at the time was blowing strong,
with a heavy sea on. Having hove their smack to, they
lowered their but, which they slacked from the smack by
• has to the ship, and thus succeeded in taking the crew off
all safe, not, however, without incurring much risk to
their own lives in so doing. The poor fellows were found
to be wet and cold, and would in all probability have been
moss drowned, as the mast was beginning to work, and the
tide was dewing. The humane and prompt conduct of the
smack's env en the occasion was much admired.
Captain Washington, R.N., reported to the committee
that as his recent visit to the Baltic, the subject of placing
life boats around the shores of that sea was most favour-
ably received both at Stockholm and St. Petersburg, and
that there was good reason to believe that life boats will
be established at all the exposed points of those coasts.
Appropriate remarks were made concerning the late
Captain A. Vlic. , R.N., Comptroller-General of the Coast
Guard, and Mr. George Lysil, ex M.P., for London, by
whose lamented deaths the institution bad lost valuable
coadjutors, and thanks having been unanimously voted to
the corporation of the City of London, for their handsome
donation sf two hundred guineas in aid of the funds of the
society, which on account of its large expenditure on life
boats was very acceptable, the proceedings closed.

OPPOSITION To CIICRCII RATER—At Tipton, in
Stiffordabire, at aid. rate was proposed last week, which
was objected to, and • peony one was proposed in its stead.
The latter was carried by 813 to 3.58. At All Saints, South-
ampton, the opponents of church rates have gained
trisapb by 424 to 378.
NATIONAL A"SOCI STION FOR TUE VINDICATION
07 5C0711101 Itionre.—Gn Widaseday night • publie
smiting in favour of the objects of "The National Associa-
ties for the Vindication of Seottiab Rights," was held in the
Music Hall, E linSurgh, which was crowded to eICIHI.. many
Madrerls bavieg ',mac• foiled to obtain admission. Among
the noblemen awl gentlemen on the platform and
In the body of the ball wet, the following:—
The Earl of Eglioton, the Earl of Buchan, Lord
Gray of 'Waling, the Lord Provost of Edinburgh,
Sir Hugh Ilutue Cam-bell, Bart., Sir Archibald Ali-
son, Bart., Sir James Walker Drummond, But., Admi-
ral Sir Charles Napier, the Lord l'rovost of Perth, Ac. A
number of resolutiuts in assertion of the claims advanced
by the society were propewd and carried with acclamation.
THE ATTACK ON THE GOLD ESCORT.—A private
letter states that all the robbers concerned in the plunder
of the M'lvor escort have been taken, and • great part of
the gold recovered.
BALL:yam Wan WATER is now being tried on
board the Snipe, Captain Gadams. The water is secured
in guns perch' vesicle, and the filling and emptying pro-
cesses ere, es nay be asppeeed, onside and expeditions.

TMVILIDAY EVENINO.
The panic amongst speculators fo: a fall which has
been lately-observed, and which has been mainly
caused by the extraordinary scarcity of stock, was
farther stimulated to-day by the publication in the
morning journals of a notification from the Bank of
England to the effect that the Bank is authorised to
purchase in amounts of not less than 1,0001., the
non-commuted portions of the New South Sea An-
nuities, the Three per Cent. Annuities of 1751, and
the Bank Annuities of 1726, at a price equivalent to
the payment of capital and interest due the sth is-
nuary next, subject to a discount at the rate of four
per cent, per annum. The amount of these stocks
which the holders refused to commute being
as much as 2,380,000/., it was at once assumed that
a large amount of money will be brought into the
market for immediate investment, denuded as the
market is of stock ; and this consideration, added to
the near approach of the settlement, has caused a
species of rush to get into stock. The market opened I
at a rise of to 1 per cent. on this announcement, andl
after various fluctuations assumed an appearance of I
still g:eater strength in the afternoon, finally closing
fully one per cent. above the closing official range of
yesterday, and nearly two per cent. above the open-
tag quotation of that day. Although the political
intelligence was generally interpreted as extremely
unfavourable, and telegraphic despatches were even
published reporting a serious collision between the
Turkish and Russian armies, the effect produced was
trifling and very evanescent, the scarcity of rock
overruling all other considerations. Prices were
further supported in the afternoon by intelligence of
a rise of 1 per cent. in the French Three per Cents.,
on the Paris bourse of to-day. The present position
of the stock market is in many respects extraordi-
nary, and is regarded with much interest, not un-
mingled with surprise, by many of the mast expe-
rienced operators. Such is the scarcity of stock, that
some of the principal dealers refused to " make a
price" for stock for immediate delivery to brokers
entrusted with buying orders of very moderate
amount. Owing to this demand for stock, the price
of money stock stands fully 1 per cent. above the
quotation for account. In other words, this
" backwardation " of 1 per cent. is receiv-
able by bona fide holders of stock for the
mere loan of it in the market till the next
monthly account. As we have before explained, it is
only by means of this borrowing of stock that pre-
vious settlements have been completed, and now wo
hear of numerous loans of this nature going ea.
There is an impression in many quarters that them
large loans of stock made by bankers and others may
be called in any day, and that the market may thus
be on the verge of an extraordinary upward move-
ment. It should be explained, however, that this
impression is founded on a misapprehension, as, even
supposing the holders of stock to be desirous of fore-
going the advantages derivable from lending their
stock (or, in other words, giving up a r►l
of es much as 12 per cent. per an-
num, realised by interest, dividend, and
"backwardation," in favour of the simple dividend
of 3 per cent. per annum), it must be borne in mind
that the bankers and other lenders of stock have
themselves employed the money which they received
in exchange for this stock. The more natural pre-
sumption thus is, that a considerable portion of this
stock will be finally sold in the market at •
good price, thus tending to relieve the
pres-
sure for stock under which the dealers ie
so long laboured. The fact that bankers hold
such large sums of money derived from the loan of
their stock further conduces to promote the more
easy state of the money market lately noticed. Our
remarks would not be complete were we to omit to
mention another influence which is calculated
to prevent the funds rising to a price
out of proportion to the present position
of affairs, and that is the inherent disposition of
holders, especially in times of political apprehension,
to realise at good prices. To-day's market tended to
confirm, in some degree, this view, an influential
broker making a large sale at 95, and numerous
other smaller sales of a bona fide character=
also prompted by the rise. It must be o
however, that in its oversold position and in the
scarcity of stock the market possesses a prop white
cannot fail to afford great comparative support under
any contingencies.
As regards the government measure above referred
to various opinions were expressed, but it does not
seem to have induced any higher opinion of the re-
sources of the Treasury, although the step is, at Sat
view, calculated to encourage such an immunise.
Having, with the assistance of the Bank, and by
doubling the rate of interest on Exchequer Bills,
succeeded in meeting the temporary pressure inci-
dental to the termination of the financial quarter,
the Chancellor of the Exchequer, as the revenue
funds begin to mount ne again, has determisetk
to employ them in paying off at once a pus.
tion of the stocks for which payment is
strictly to be made in January next. It
appears doubtful, however, if the holden
of these stocks, who are secure of receiving par and
3 per cent. interest in January, will as a body sele.l
mit to the Chancellor's discount charge of 4 per
cent. To do so simply involves a loss of 1 per cent.
Holders of this stock are undoubtedly likely to show
a disposition to re-invest the money in government
stocks, but many of them will argue that, in the pre-
sent prospects of the money market and of politics,
they have a chance of effecting their investments on
lower terms by waiting and letting the South Sea
Annuities Commutation Act take its course.
Consols opened with an excited appearance at 9111
to 93 for account, quickly attained 941 buyers, fell
bock to 941, rose to 93 to 1, and were last officiaUyi
quoted 941 to 951 for money, and 911 to 93 for
the 10th of November. The closing after-hours'
quotation was 941 to 95 for account. The official
business report is as follows:—Three per Cent. Con-
eels, fur money, 93, 941, 951,941, 931, 931 ; ditto,
far account, 10th Nov., 95, 911, /, 951, 941. Three'
per Cent. Reduced, on, 94, 931. Three-and-a-
Quarter per Cents., 951, 961, 951, 1, 961. Annuities
el 30 years, 1859, 4 15-16 ; ditto, 1860, 5 9.16.
India Stock, 253, 250, 249. Bank Stock, 216. South
Sea Old Annuities, 99Z.
Exchequer Bills were firmer at 2s. to ss. prem.
India Bonds ruled at 2s. dis. to Is. prem.
The foreign stock market was more active, and
generally showed an improving tendency. Mexi-
can was in chief request, and touched 27,
but relapsed towards the close. At 4 o'clock
Mexican Bonds were quoted 261 to 1. Spanish
Deferred, 211 to 22; the Certifs., 41 to 54 per cent.
Peruvian Three per Cents., 50 to 52; ditto Four-
, end-a-Half per Cents., 711 to 721. Granada De-
ferred, 71 to 81. Russian Five per Cents., 112 to
114; ditto Four-and-a-Half per Cents., 97 to 99.
The list of sales includes :—Austrian Old Five per
Cent. Bonds, 91 (exchange fixed at lel per £).
Belgian Four-and-a-Halt per Cents., 011 ex div.
Cuba Seven per Cent. Bonds (Matanzas and Saba-
nilla Railway), 101. Dutch Four per Cent. Certifi-
cates, 95, 941, 93. Equador Bonds, 51, 51. Granada
Deferred 8. Mexican Three per Cents., for account,
11;th November, 261, 1, a, -Peruvian Four-and.a-
Half per Cents., 711, 721, 711, 721; ditto Three
per Cents., 501. Portuguese Four per Cents., 41;,
142; ditto ex all overdue coupons, 381. Russian Five
per Cents., 113. Sardinian Five per Cents., 92,93,
931. Spanish Old Three per Cents., 41;; ditto
INew Deferred Three per Cents., 211; the Committee's
Certificates, 41, 5 per cent. Venezuela Three-and-a-
Half per Cent., 32, 33.
Money continues easy, and first-rate bills of short,
date are readily discounted, at a considerable reduc-
tion from the Bank of England minimum. The rate
charged, however, varies greatly according to the
length of time bills have to run, and to the character
of the names. No additional pressure of importance
appears to be caused by the approach of the commer-
mat settling. of the 4th, and the mass of bills thee
falling due is expected to be met with equal promp-
titude to that shown of late.