The Express.
London, England, 1851-08-14 00:00:00

II If

MONEY MARKET:

Tti LAT.

Two oTtocx.
The prices of the home funds were further de- •
pressed 1 yesterday afternoon. making a total de-
cline of in the course of the day. Money
sellers continued to offer, and a possible tendency
to nn increase in the Bank of England
rate of discount appears to have been by some hinted
at, though it is needless to observe no such ideal
meets with the least encouragement amongst com-
mercial men generally. However, after it had be
conic known this morning that the weekly
board had broken up, more confidence became observ-
able in the stock market, and prices rallied 4.
The government broker made his ordinary pur-
chase of Consols at his usual hour, but, after the
completion of this business sales were made at 96!
for cash, being worse titan the lowest business
figure of yesterday. The present quotation of the
market is better again, at 964 to 1 for cash,and 961 to
for the 11th September. The rates of actual bar-
gains are thus officially reported :—Three per Cent.
Consola,96l, ; do. for account, 96'4, ; Three per Cent.
Reduced, 971, t. New Three-and-a-Quarter per
Cents., 99, 981, 99. South Sea Old Annuities, 96,.
Long Annuities, 1460, 7!,. Bank Stock, 2151.
Exchequer Bills have, somewhat unexpectedly,
been in better demand to-day, and the price has
risen Is., being now quoted 475. to 50s. prem. India
Bonds, large and small, mark 565. prem.
The settlement of the account forms almost the
entire business of the foreign stock market : and, as
few operations have offered, the change in
prices is limited to Mexican Bonds. The intelli-
gence relative to the financial and political
condition of the republic, published in full
by the Expre.r and Daily Nora has caused much
alarm among the bondholders, who are further
deeply dissatisfied with the entire conduct of their
affairs, and large sellers appearing in the market
this morning, the price was depressed to 261, king
a 11111 of 1 per cent. as compared with the lowest price
of yesterday, and a fall or nearly 2 t per cent. since
this day week. Now that the eyes of the bond-
holders have become opened to their real position,
it is to be hoped this depreciation of their property
will have a good effect by inducing them to
enter upon the work of reformation where it
is so much needed. The present quotations of the
bonds shows a slight rally being 29:, buyers. Sar-
dinian Scrip has reeedea, to 't dis. The business
figures of the day are as follows : Fquador Bonds,
31. Mexican, 29,t, 28, 294 ; ditto for account,
29th Aug., 29'. Peruvian Five per Cents., 1649, 90.
RussianFour-aud-a-Haif per Cents., small bonds,
101 Sardinian Scrip, par, dis., dis. Spanish
Three per Cents., 381.
The railway traffic returns for the last week, now
in course of publication, present the same favourable
features as for some time past. the comparison with
lust year showing a large augmentation on nearly
all the chief lines. The increase on the
London and North Western is larger than
ever, the receipts having attained the enormous
amount of 70,2301.; in the corresponding week of
last year they were only 33,422/., so that the in-
crease is shown to be 16,8116/. The Great Western
return is 26,616/., against 1704174 in 1850—
increase, 9,139/. ; the London and South West-
ern, 18,4571., against 11,1 W—increase, 4,3071.;
the Lancashire and Yorkshire, 18,223/., against
16,9461.—increase, 1,277/.; the York and North Mid-
land, 10,18:31., against 9,4lU—increase, 770/.; the
York, Newcastle, and Berwick, 16,5001., against
13,70 M—increase, 799/.; the Bristol and Exeter,
5,4371., against 4,763 l.—increase, 674/.; the Great
Northern, 14,419/.,ngainst 3,lB7l.—Merease, 111,1)62!.;
the North Staffordshire, 5,4627., against 3,4014—
increase, 81'.; the Manchester, Sheffield, and Lincoln-
shire 7,568/., against 6,578/.—increase 990/. The
decrease '
in the Midland is 2,605'. the receipts
being 22,8761., against 25,481/. in 185 h.
City Navigation Bonds, bearing 3t per cent. in-
•terest,contiune quottsl 96.

In Bank shares there have been a good many
transactions during the week, and generally at full
prices. Bunk of Australasia and London and West-
'Master shares have improved. In Union of London
shares a good deal of business has been concluded,
and the late advance in price is pretty well main-
tained. The last prices noted are : Bank of Austral-
asia (40'. paid), Mil; British North American Oa
paid): l)( ; Colonial (251. paid), 111, 1, 11; Com-
mercial of London (201. paid), 251 20 ex die.; Lon-
don Joint Stock (10,. paid), l$ cx div.; London and
Westminster (201. paid), 2141, 1, Z, 29 cx div.;
Provincial of Ireland (2.)1. paid), 43), 43; do. New,
(101. paid), 101; Union of Australia (251. paid), 3.5)„
1,3. i; Union of London (101. paid), 141, 1, 14, 'l,
ex div.

I)ock shares are firmly held, and London stock has
advanced 1/., being marked 112, 141, and last 11:1.
Commercial stock is quoted St ; East and West India,
1411 ex div. ; Southampton, 171. St. Katharine was
last quoted 7s, but uo price is marked in this week's
list.

In the quotations of steam-boat shares there is
little change, no activity being observable in this
market. General Steam Navigation shares arc
worth 271; Peninsular and Oriental Steam, 0•w,;
ditto New, 9; Royal Mail Steam, 80, 791, 80.
In insurance and reversionary interest societies'
shares there is no change of the least importance.
'1 he quotations of miseellancons stocks and shares
are thus given in the official list :—Assam Tea Com-
pany, 8: Australian Agricultural, 13; Australian
[rust, 20 ; Anglo-Mexican Mint 23 ; Canada Com-
pany, 49 ex div. ' • 'liaison's Bay Stock, 203 ; Price's
Patent CandleCumpany, 22 ; South Australian, 23; ;
Van Diernen's Land, 1.

On Tuesday, an attempt was made to get up a I
demonstration of the Liverpool millers against free
trade principles, on the ground of competition from
French flour, but the Liverpool men were too saga-
cious to connect themselves with a movement which
cannot be successful, and is only calculated to bring
on its promoters ridicule and disgrace. The
'importations of foreign flour, as the re-
turns lately published by us show, arc very
great, and they justly excite attention both here and
on the Continent. On Monday evening the subject
was discussed by the Society of Political Economists
at Paris, when some explanations were offered by
the Count de Kergorlay, late peer of France, one of
the jurors at the Exhibition, and an eminent French
authority on agriculture. He felt highly proud that
France had carried off in the department with which'
he was connected four out of six first-class medals ;
of these medals one was for flour, in which the
French had beaten their English, American, and
East Sea rivals. French millwork has only taken
its present rank of late years by the imitation
of English machinery, but such extensive improve-
ments have now been made that tho English are
fur in the rear. It was stated that 120,000/. was
being laid out in London alone for French millwork,
and that there can be no question the English will
soon be on an equality in mechanical resources,
but it is M. de Kergorlay's opinion that
the 14 rench will maintain their lead, because
their superiority is likewise based on the proficiency
of their workmen in the management of their mills,
and on the skill of the French millers in the choice
of grain. It was mentioned in the course of the dis-
cussion, that the French millers had been unable to
keep up their supply of first class flour, and that they
had been lately making up with stock below sample,
which has created great dissatisfaction among the
London bakers.

In these views of M. do Kergorlay we cannot alto-
gether concur, because we think it quite competent
for Englishmen to acquire, by experience, the same]
proficiency in the choice and treatment of grain. One '
result is clear, that although the French have sup-
plied this market to the value of three millions ster-
ling in the last twelvemonths, our millers have
ground more flour than ever. Another result, no
less clear, is, that instead of continuing to use in-
ferior flour, we shall now, under the influence of the
free competition of English and French millers,
obtain the mass of our flour of superior quality.

It likewise demands notice, that M. Horace Say,
lin the samo discussion, spoke in strong terms in
deprecation of the cultivation of beetroot sugar, in
reference to the rote of another first-elass medal to
that branch of French production.

ENOLISII FEN Orl.—Tio. Par.
flick &let. 21616 Loot Annuities, 7i
3 per Et Reducad, Slit i ItriLa St.,•ck, WO 2
3 p..-r 11. C.. 1.414960 I Dion Itscit, --P. -P.
3; per et. Con.ok. vet i I.;:cycquor 11A1b1.1"vt..4711.500.PM.
Couwl, fur Acct., AO t

FOIIEIO.
4. PC, Ct. .141"8* 33 392
5 "
Po' CL
"c*
Ct. I:ucno
AVM. f,3 5
1 Pc
, .; CG chil4w.l4
3 per Ct. rhillan. 04
3 per Ct. 18.81,h, 7.t 8_
2. per CS. PutelLslBl 1"1
C 33 per Ct. Dutch, 1
I Per CL
E4V"1"'..:L.3 two. 14115 i
• turdinlari 5 Por
LATEST FORSIC

N IttINDS.
(11 rl 2..0
pita. Deferred. .1 4
6 her Ct. Porturua.l. rr 9
5 per I:t. Ittrwlan, 114 114
4 j per Ct. Ilu•glan. 101 2i
5 per It Spaninh..le.ire, 20i 14
3 per Ct. Spanigh. Sri /
Pa4arc. 51 1
I)
2
lwformt. 11 14
,Cuitt.. J dig par.
GN EXCHANGES.