The Express.
London, England, 1853-06-02 00:00:00

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WEDNESDAY
The depressing influences that have for some days
been in operation on the stock markets without the
occurrence of any very marked fall, aro at length
producing a decided effect. The funds to-day were
much agitated, and, after various fluctuations, closed
at a fall of 1 per cent. This depression has exercised
sympathetically an unfavourable influence through-
out the Stock Exchange, and in the several depart-
ments prices, as a rule, have seriously receded, clos-
ing with a gloomy appearance. Daring the greater
part of the day the aspect of the Turkish question
was chiefly referred to as the cause of the prevalent
depression, leading to considerable speenlative sales,
partly on French account, but in the after-
noon a more favourable tendency was induced
owing to its becoming known that the
Paris Bourse of to-day exhibited a much
stronger appearance. Towards the close of the offi-
cial business hours, however, sales were renewed
largely, and a report becoming at the same time
general that the Bank of England directors contem-
plated an advance in the rate of discount, a species of
panic set in, from which there was little, if any reco-
very. It is stated that the applications for discounts
at the Bank, during the last two or three days, have
been very considerable.
Consols opened at 100/ for money, and 1004 for
the 19th July, suddenly declined 1 to 4 per cent.,
and after a partial rally, finally fell, on the reports of
a contemplated rise in the rate of discount, to 991 to
for money, and 991 to par for account, which was
the concluding range of the market. Considerable
purchases of money stock have been made on the fall,
but their effect has been quite neutralised
by "bear" operations. At four o'clock the receipt
of higher prices from Paris induced no signs of a
rally. Deducting 11 for the five months' dividend
that has accrued on Consols, the price is now vir-
tually equal to 98: to 1. The other classes of the
home debt experienced a corresponding fall, the
Three-and-a-Quarter per Cents. receding to 1014.
The official business report embraces :—Three per
Cent. Consols, for money, 1001, 4, 100, 1, 991 ;
ditto for account, 19th July, 1001, 4, 100. Three
per Cents. Reduced, 991, 4, 1. Three-and-a-Quarter
per Cents., 102, 4,1, 1014. Bank Stock, 230.
Exchequer Bills remain depressed. The transac-
tions in the March issue were at Is. dia., 2s. prem.,
and par, and in the advertised bills at 3s. to le. din.
India Banda mark 255. prem.
The foreign stock market, as might be expected,
showed a downward tendency throughout the day,
but generally sales are not heavily pressed in this
department. Peruvian scrip is marked par, but after
the regular business hours was widely quoted 1 to
2 prem. Russian stocks do not suffer sensibly in
price. Mexican Bonds formed a prominent excep-
tion to the general aspect of the market. There are
influential buyers of this stock, and the price, after
standing for a moment as high as 264 to 4, reached
at the final close to 261 to I. To-day fell due a third
dividend on the bonds, equal in all to 41 per cent.
Peruvian Deferred Threes were quoted at 4 o'clock
60 to 62; Spanish Deferred, 224 to 231 ; the Com-
mittee's Certificates, 51 to 6 per cent. ; Granada
Active, 21 to 22 ; ditto Deferred, 94 to
101. The list of sales is annexed :—Bra-
.
=ban Old Five per Cent. Bonds, 100: ditto
Four-and-a-Half per Cents., 981, 4, ex div. Chihan
Six per Cents., 103. Dutch Two-and-a-Half per
Cents., for account 15th June, 651; ditto Four per
Cent. Certificates, 96, 1; ditto for account, 951.
Equador Bonds, 51, 6, 54. Granada Deferred Bonds,
94, 101, 10, 91. Mexican Three per Cents., 26, 1, 4.
Peruvian Four-and-a-Half per Cent. Scrip, par;
ditto Deferred Three per Cents., 60. Russian
Five per Cents.,llB ; ditto for account, 1181; ditto
Four-and-a-Half per Cents., 1031, 103. Spanish
Old Three per Cents., 48, 1, 48; ditto New De-
ferred Three per Cents., 231, 23, 1; ditto Passive
(Converted), 51. Swedish Four per Cent. Provincial
Mortgage Loan, 14 die. Venezuela Three-and-a-
Half per Cents., 38.
The late arrivals of Australian gold are already
beginning to find their way into the Bank. To-day
about 70,0001. of the cargo of the Epaminondas was
sent in.

Another Australian arrival was announced to-day,
viz., that of the Wellington, from Hobart Town,
which port she left about the sth of February. It
is not known whether she brings any gold or not. It
appears the Hannah, the arrival of which was re-
ported yesterday, has no gold on board.
Our anticipation of the reflux of Russian gold to
this side is being already realised. It was announced
by telegraph to-day that the Emperor steamer had
arrived at Hull, from St. Petersburg, with about
80,000/. in gold. This vessel brings intelligence of
the wreck of the Neptune steamer on Neckman's
Ground, at the entrance of the Gulf. The paseen-
gers were landed in safety, the vessel being fall of
water, but five of them could not reach the ltmperor.
The Neptune was bringing over about 40,0001. in
half imperials from St. Petersburg for London, the
whole of which is stated to have been saved.

It may be useful to repeat that after three o'clock
to-morrow (Thursday) the advertised Exchequer
Bills cannot be presented for payment.
The new duty on tea was received at the Custom-
, house to-day for the first time. Every arrangement
was made to facilitate the payments and give des-
patch. About 17,000 entries passed, and some
230,000 t. was received, equal to about 2,800,0001 be.
of tea. It is probable that the demand for money
for this purpose has had considerable effect in tend-
ing to increase the stringency of the money market.
Annexed are the returns of the progress of the
conversion. The present state of political uncer-
tainty, and the reports of a probable advance in
the value of money, are seriously interfering with
this operation, and their influence will be the more
detrimental, owing to individual holders of South
Sea securities being only allowed till Friday next to
signify their acquiescence. Under these circum-
stances it is apprehended that many holders of these
stocks will remain passive, and thus call upon go-
vernment to pay them off at par. As holders of
Consols and Reduced Threes are allowed until Octo-
ber to signify their wish to take some of the new
stocks in exchange for their present holdings, it is
not likely they will move to any extent at present,
with the stock and money markets in so unsettled a
state.

BANK OF KNOLAND, JUNE 1, 1852.
Amounts of New Stocks Total amount
accepted this day. accepted.
£3 10s. per Cents... £7,900 0 0 £138,082 0 3
£2 10s. per Cents. .. 37,514 14 6 1,534,100 15 10
Eachequer Bonds .. Nil. 4,200 0 0

Total

80tTli WILIL MOUSE.
Amount of Annuities Total amount
commuted this day. commuted.
For £3los. per cent.
Annuities
For £2 10e. ditto 86,416 12 10 899,181 1 11
Exchequer Bonds., Nil. 4,470 18 4
Total

Private letters received by the Overland Mail
mention that the e►tendcd report of the Governor-
General on the important subject of railways in
India, was understood to be nearly completed, and

The statement of the arrival of Count Nesselrode
at Constantinople, and the resumption of diplomatic
relations between Austria and Switzerland caused
the English stock market to open at a rather decided
rally, the first quotation of Consols being 1001 fo
July. Some trifling fluctuations followed, the general
tone of the market being one of comparative steadi-
ness, till a quarter-past one o'clock, when came the
announcement that the Bank of England directors,
at their weekly board meeting to-day, have raised
their minimum rate of discount to 34 per cent. Prices
immediately evinced great unsteadiness, and a fall
of a quarter per cent. followed. Consols now rule at
991 to par for July, but the market is very unsettled.
For money a quotation can scarcely be given, as
the books close to-day, but the price is
about 991 to 1. In every department of
the Stock Exchange the step of the Bank
has given rise to a very unsettled feeling and
much discussion; but the movement is es yet too
recent to have produced its full effect. The Three
per Cents. Reduced mark 99 to a ; the Three-and-
a-Quarter ;per Cents., 101/ to 102 ; Bank Stock,
2294 to 2304; Three per Cent. Annuities, 1726, 100;
India Stock, 204; Sonth Sea Old Annuities, 991 to
; ditto New Annuities, 991 to 1001. India Bonds,
20s. to 225. prem. Exchequer Bills, March, par to
2s. prem.

Foreign stocks also opened with a firmer appear-
ance, but, with the exception of Mexican Bonds,
which continue well bought, quotations generally
have now assumed a heavy appearance. Mexican
Bonds mark 261 to a ; Spanish Old Threes, 48;•
ditto Deferred, 23.1 to a; ditto Passive, si; Dutch
Fours, MI to 96; Peruvian Deferred, 60; Granada
Deferred, 10; Equador, 51, 6. Present quotations
are generally worse than these figures, and the mar-
ket is unsettled.