The Express.
London, England, 1848-05-29 00:00:00

MONRY MARKET.

SoTUADAT EVENING.
The Epsom race week wound up, as the case usual')
has been in seasons so inviting as the present, with
excursions to the coast, preparatory to the more
vigorous return of the members of the Stock Ex-
change to customary avocations on Monday. The
thin attendance in the house to-day, and the in-
considerable nature of the transactions in the
hinds, may thus be explained, as otherwii.e
the general tenour of the continental intelligence.,
with the important accounts from Ireland, could
scarcely have failed to create all that kind of
agitation which leads to speculation, and promotes
Ituctuationa in prices. As it was, the variations in
Consuls to-lay did not exceed 1; they opened at 811
to „and so remained until nearly the close of bust-
need, when they descended to and telt off at 844 to 1,
fur money and time. lteduced Threes, 824 to .4.
Three and-a-Quarter per Cents., 831 Long An-
nuities% 81 to 1. Exchequer Babe declined to 345.
to 304. prem. India Bonds,l9s. to 245. pram. Bank
Stock,l9l to 3.
The dealings in foreign securities were upon the
most contracted scale, and scarcely more than half
a dozen bargains were reported. Prices remained
for the greater part as before. Dutch Two-and-a-
I kelt per Cents., without business, were quoted 41 to
2; the Fours, 61 to 2. Belgian, 58 to 62.
Spanish Fives were 11/ to 121 ; the Threes, 211 to
1; Passive, 24 to 31 ; Portuguese, 161 to 171. Mexi-
can, 151 to /. New Granada, 12 to 13. Peruvian,
35 to 7.
ibis other of the several houses referred to on
Friday under this head, as freely spoken of on
'Change as in embarrassed circumstances, may be now
mentioned as openly declared. It is the brine( Messrs.
Roberts, Mitchell, and CO., in the East India trade,
understood to be one of the oorrespondents of Messrs.
Cart, Tagore, and Co., of Calcutta, whose stoppage
was reported by the late advice.. The total liabilities
are said, to be under 100,0001.
N 201.11111 FUND&
perm Res. sma.l2 Cowart*, AWL. $4l
1 eV
;t:.• c.
3t per tx. Aaut, 83thi. £4,4%,
=Allndr:ll76oj,ati 14
14"
I Lit: =6.343174m
lath. Enda .CI,OLN, 14 11 Ditto. A4r4rUse& 23 20 pm.
TORSION FUNDS.
1 per Gat. Dom* 42 I lAff Coot. Swirls Psoiro 1616_ ,3f
6 par Ora. 14416:66, 1616. 166 3 par er. 6466111, 844.64.&441, Mal
I tor Cent Portuguns 116•14 lit 31. 111

RAILWAY NEIVS.
The absence of dealers on Saturday made a dull
market in shares, but prioes amain about us before.

SHAILE I.IST.—LoPiouN. MAT 27.
NOT, —Til yuotatione of limo In Hasse characters denote sepal
treseserstons: those of tem le Debts .when' edam
tall,
NMe i!oilwoo..o a :
I Do. Now,
4 ' Po. Nrr, --...., ,_.
2 I De. Cow. TeWh4
fq. de. Tatar...
11 . Do. ThorJe ~ ..
.6.l..ey,sb:ct I po•-
11 r 1
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TOL
it.t

-f
tondo,.
rberill.r=
. is. SEW. rk O. Vok.
rm & Oiltolll
Jo.'
o odr *lon. Slam. ffirs.
SS ,rakto cool
Do. Think
Itl ffiscamaibionslarg

,foa:
IV; IPa

A 0l lie -
,rmicrAmtoldttb: Pante To. LlOB6 —Annual Generol Meeting
call
rod
s Igwers of the key
pant ttoL"seresd'it e*?l'dtrilln%enr.rri. it'ttirbonkrs'eriwatt ;the"LondoeW Bb'eng' 'hut'enb,'Ldn'•6l6, were neesp.7:6:l,nefd:u:ret'etioLnforbethlthe.ecifilerui.l.—sionleti!,:t,nO7Act.pra:i..:
/Meth Coot Itedway Comproiy." The rolled. reed the cit let of th. 22e., which h'°""til"'t I°M to the "3'
bill. whlch mite...red the Litlghten Cusupeny to take an Inters. in w.. wbe AMucad. ?bore la still
ethtietrit'ilrit'te:ll.;...raTg.".ll3.UittAto.fto.rnwmovrkugut 6.ntleatclll74*. lin4n rep3'iy"Xto 'r."ll;larit: wanting
f"
hoc
"'"ini'6.oOttoco!
rxhroectasr.m.aed lumutnitucnbanssn the istuerighciwton ti...i.m.pe:y.th,dedtbalureadtb..y
,patannonp.thew to
Pot the loyof 13,1eo,tjuir
3,9 teen
22 15e. per anion deposit on about 23,000(. In the coarse of some
converseltm that conned, the Clan inan stated that the directors bad
the authority of the short htiele. • for effecting an arrange-
ment with the lirlithiou Company, and be read @tete
et notations to to it eff. et, which had been timed In 1916. Mr
Wishes, the chat, man ul the otatoonttee of inveetigation, entire...s
the epprohation of that committee re peeling the propped arrange-
ntmL Mt' snt. ',vacated in enroll terms against the arnalearna.
lion. Ile contemned that the arraneenient hoeing arn.en out of one
which had been trade with tit Croydon Couto .ny, they were not
bound .0 eery a out in the our of tie Brighton. Ile concocted such
an arrangerniot to be at variance with the Interests et the conipany,
and cut.o ut, d la) moving an athendineht pegatieng the reroluticei
cotenruiieg the Mr. Wee oudad the arneetlmert ,t and
condone& the general n ode of te inagement pursued by the mol-
1-mine, which led to u viadieetioo of ill ir conduct by the
tiporman, snd a scene of mote contagion. Ultimately Mr. Milo
sitildtew hie mord.... The motion, approvihg of the bill se-
oft, wh. to ionvcreation took place as to how far the opposes
the bill, by allowing it to pose, wood dirartudify themmlves from
teeing any one. ire Flop- u, ...tome* It in the Ilutee I.OOIA, or eloe.
wh, --1 he t ban man elated that Yolkow the reolution so puree
without oppoeitiott, a ballot would be heessery, in which oktoe the
rmult cumin nut tic oreetned ; tf they prod the tuolution be pledgee.
Mined( tin the p -rt ul the director.. not to take lotto...Re 01
the Mreureetenee In the Itutiw of hoes—The oepeolloti was
accurdinely with rues, and the motion carrell withutit diarent.-
aluirth-.10•1S kW.. lit (hot. fewohyLl themselves inter can iltrafirttinar)-
Inettilig, to no iLltOwn.itlrration certain resoluta.ns for raring the
t capital of the company.--The Clevirman explained that the cep Si'
render.d ties/a...ay oi tad. r 4. meet a liege amount of Inorumge
bends The venoms hod not bon able to bring de. redecct before
the stiareltuklem at an earlier pv nod, ossify to the ratting of the coin.
mittee, and they nal Men the menet opiortundy of eo donee. The
inane whtch they proloaval takir woe beteg pureued by the Koller-
Cooties end Lancsetstre rim Yorkshire red be hoped
wood be agreed Lto u. the preseet con.--The whetter, In one to a
quivition, otattal that the company was 'whin iced mice the Capital
lu the 'somber pruismed moth r teeein Murcia in the Itailway
Cornelia ee aow .o Ac:. Mr. Power mode some ob-
serum,w depot:2.mi the prelim 01 emitting new shares, and urged
the Mire.n to eurtrader attioney benure they rolsol toe capitol of the
(401111.i11y blettlilig wore ton Was nrteea..ry. several proptietore
emcees-el its Wt. view of the cora and sten il that pry-ferret...l shame
operated to the • t. poke of ralway companies% hy bringing into
tbett, a tiuntletr of I ere.. who had not the eame were in the un-
dermenirs the original soarebuldi-nt, Afarwane coneersation,
the toll-wing teeolutiens were agreed to without dimwit ;
'feet for the purpee of antverting a portion of the mortgage debt
of the cruproty Into capital, the um of eit,este. shail be rood! by the
reation 9:071 an re., u. 51. tech, when wham rdmlleutitte the
holder to • perpetual minimum nit Wend cat hi. per cent per annum,
payablehall-yearly,lli penrcliCe tothe lino:lends payaele
uu the tottery, stuck and ordinary shares or the
pen; ; end when a dierlind exoetchng 0 per oen ut
any one year shell be payable on ouch mock met there., the
said new Wales Mold be euUtkd W participate rateably sad ptopor-
sonetely m ellth higher rue tr. Method. That the Auld m w ',hares
WWI a butte the Menu to WI the eerie of Ottimary eharelioloe,s,
except in Um pet t citation cal cavities. *heir iess than W p r cent.
pr 'that such Mures oe efferoi to tee propr:elors, who
shall be registered to the huukeuf the com my on their pr
ment
tutu
day of )- u., el the proportion of at some for evert Sq. ordiry
stock or shale. That a cent of WOW resuiutions shall be aunt forth-
with to each plOprkettn, .hat It oily prolattetur Wall tall to cempt the
Moe. offered ugh= 00 or before the lathy cat July next he shall for-
ted ht, right there . TOat a depurat u 4 a. eland be paid upon eeeh
bud' there uo or Ulan- the 6th July near, where open the party ohall
oe registered in the tooka of the conipauy. That the Mature eels
Upon We roll new Wane shall be pout 00 AS follow., that Is to may -
a. pet enure on the et,. day ot Ameast, 1613; le per share on the nth
day of Sept. rider, 111111, uid 11. per 'hate On the nth day ut
December, Intr. That tae calla paid on toe sold new
shares stied carry Hari Csit a W. per cent. per annum, funs
the respective Worse payment. But in ere of the non-peyeuent
of the whole or any part Of the cell, upon any of the days appouited
for pajuiv ut theme, then the ho acct shot loin It all interest or die-
Lends due, us to beernse due, up to the time when rub WI snail be
paid; end he shell be changeable eith interest at M. per cent. per
hum on the coil so ILI arterr, up to the unit cal pre meet thereof.
that any shoot-w ethical omit nut be accepted by the proprietors, shrill
be disposed of in such manner aid mem rob terms as the dime. in
may think proper. That ell part. • pont* up their et au in full or
du part, In illsticipalluit cal calls, on or brittle the Stri dry or Ju y next,
shad he allossod a rebate or m. 0.% tro the calls at the rote 01 n per
cent. per antottin, 011.igneying their intention so to du, to the secre-
tary, on or briorettst let cat Juts next.
Tne Chairmen Ito. It wade • tees Aureate,. extrusive of hia confi-
dence an the sound and ;reopen..o maiddi o of the company, and
eangroulatmg them .m the amount of traffic, and the excelled U-
ralic-Metal a bah hod beet. made on the Derby dry fur the Preven-
tion oi accidents and the convenience id the public.—The usual coth-
phinentery vote to the ehatimieu concluded the proceedings.
WoLvetotharrurn, Ann LlttlitltY.—Npe-
cid Aber ltioniughant, May 27.—Mr. W. Mathes, in the
chalr.—Thee ma a mivuug wider Lord Who neliffe's order : the thud
of a Lill Wu Meat, id w birth entail enable this compel:ly to hear the
joint exulte of oonetrucang • station at Wolverhampton, in con-
junctiou with the Oahe* Worcester, and N'olverlaroptue, and
*Shrewsbury any Bermingham Wraps., ; a committee of three
direct.* trout each of the. to be crammer d to auperintend and
carry cart the proposed arrangement—'!rue Lloairman said that the
tire. Waatern Cilialpoaly Were conaeutang parties, and a reolutem
empowering the directors to proceed with the app tit:anon to par.
meat was passed unanimously.
NillartinaN UP FnANCE.—SpeCiEII Sleeting.—Parr,May
24.- Sava 1. de it theclaild in the chair. - The en etang was ooneertid
foe the purpum 01 cohederiog cite measure. sloth °tient to be adoptewd
reeprnUng the het lehly prs motor to the Aseembly, empo-
cense the stele to take p.o.en of all the railways. The ante...tee
w. uuusually 114.0erota. The repel, veinal was real by le. E.
Pereire, premeds at once to discuss the new bill with reference to its
cffect ua the amoshotdets at the Northern line : —The government
bu ethnelatee that the shares of toe Northern company, ettednetkA at
the average of the ?rive a. winch they wer uoted e q m the Faris
Plume, during the eia months e Meta preceded the recoluuon of
February, shall he eothairged far coupe. of 5 per cent. mole, the
average pi ice during the same half year. The apptication of this Nal.
glass en average pox of 51401. de. per seare, and if lie 234. H.
not yet put up be excluded wound represent at that quotation
a nuniterl sum to be paid heck of 2ade 62c-, which whet,
ounserted into rents, at the average priceof 114., would
produce IL. et re to per share. That coin of rents, calculated
at the present price, would represent a capital of 173 f. pee share.
But in preen:toe of a new and este...thrum et 5 per cent. mete,
would that euetation be kept up! That is a quesuon which each
person too pep, of. t% better my be the opinion termed on the
subject, sad Moen, at the great probenlity that the rem °tient
from the nature of we operate,' tether to decline than no nee, it
nest be ternodiel that the use:minty offered scarcely represents the
premed quotemon of the alarm Net can the price ce Moe Wee
effected in must exceptienal circumstances be taken as tab wine
manure 01 the value re our undertaking? The 12f. 23e. ef mei
ortinid would furnisti for toe 100,000 shares of which oar capitol le
composed • sum total cat 5,011,01001. of rents. To appreciate the Oleg
ineutlimeney of me an insemhity, all that In aecetrary is to refer In
the testator( the wormlike theme for 1817. Accoreing to the totecrellie
permeated to yuu.the ono rimmts of that year amounted to 15,6113,111111
the to es lids of the tea Intuit:red t • Comptegue are down for only the Ise
ognihcant sum of 25,7021.), and Usenet receipt to 8,4•,0,301I. Thane
rteripta telly apply to the treacles' like, and are for a lee. yeer's
workiog, a year of nig and experiment, during which you were
üblued lean un incomplete data —a par, in ilet, of great a molly,
and commercial sod floareiel CfloeS. At the moment when the rev*.
lutaw at February broke out the year of 16411 pet witted to to thew
muds salt mute fasourable, so we were able to obtain tram let
Jahuary to 21nd February receipts amotnung to ~3119,77'(. 364.,
whereas durmg the c. rreepotuhng period 0 1617 we had Tee:teed
Lat15,551f. 25e. ; increase in 53 days, re 4,22. 31e, reverend-4 an
ouguautatiro of 50 per cent. lithe, by applying this thrum in NI
per mut to the net erudite- of 1%4., lel I. ITILLIALII last year, we
aboutel have obtained this year a set produce of i 1,702,1 a IL Sic. ;
and that in eitepuelng that the proportion of the espouse should
remelt the o.me, when the receipts should have limn 50 per cent.,
on hypothesis quite inadmissible, since the general expenses,
the met of superudeuden e, ac., ere neat ly StatiOnioy, whilst the ex-
pewee sate.) eouneeted with tranepott can alone be -Erected by the
increase 01 the cireulation. Thu net revenue of 11,761,970 L 71.1 e.,
arising from the ermined line, only °erupted.. to the expense re
that tendon, the in Treat of the 57 milieus which we owe the state
being taken out attic gross receipt.. You here reel, gentlemen, n
the care report that rat miens of an outlay of live or can Mime we
...mkt be able, in two north. to open the branch lines Cl Cidsis and
lhaterk. But it ietneuntesuble that the direct produce of them two
huts, whlch ere 112 kilometres (nearly SO Etiglah miles) in !teeth,
wtll represent large y the thtereet an 1 eineug fund of the capital
employed in their coperectlon, end that in ruktruon their Work-
Log serge to procure a hew increase of receipts to the pen:repel
hue. Making an trhetract of this Incr.., it follows trout the e
facto that it the Meets permuted by the Minister of Finance
shoukt be adopted In what conker. us, the state would obtain a
revert. of 11,7ukt,te 04, susceptible ot engmentation, in letuin for
an annusl and invariable rente of 5,012,00Ui. IS that, we ask, con-
' eadered to be a just indeniney!"j
Ii The report then Ottawa tort by the
condns
bee- the tvnerulor the state Catillot take the hoe, until the
e Ikea been at work 15 years, and even then only an cot min terms
, clearly specified; in piece of that course, the state iff.rs rei,te at
116 f., which a math back was as lows 50f., and at present le on y
' 691. It then doeusees the question le the indeautty, and destine
that it would not be enough to pay the full value of ti.e lice as it at
timed stauds, hut suiple alowance ought to be made for the in.
creme which was ineeturbly found to take place in railway rictiptat
after a certain number 01 years* working. teport then eiorninat
the °bitten. [nought Onward in the bill. that I the euetenee of
gnat lb:Lancia' conp -met is incompatible with republican
r. yews" ; it shows that in the republic ot the United Rates
that in the
Runde, rail-
way lines are all in the bands ot compunies ; adding,
the most absolute country it, Europe, they are all held by the ewe.
The report thou adduce• arguments to prove that the state, In tektite
the lila>, commits en act idepohation, and nest, that it maser a grate
attack on private credit. With inspect to the 18 millions due to the
elate by the antiliany, the board of directors had slitter to the
Minister of Finanot., Its; 4, to stet* that the events of the revolu-
tion leaving prevented the shareholders from paying op
their cello, the
Woe What be considered o e of force regjeure, es provided form the
statute. The board at the same time, however, offered to pay toe
money in negotiable bonds at one prat's date, which would have os
guarantee the Itts millions &lived, hod out on the line. No answer
heal tern receieot to that offer, the preeentation of the new bill
having taken place. The document concludes by declaring
that the board wince to be guided In all thine by the knottinf.
This rn-port was ricetved throughout with loud acclamations, and all
the parts that spoke 01 the illueuce and epoliatory chit: time 01 the
government bili were interrored with decided man.. of adheeion. A
long coovernation followed en the venous points involved in the pro-
energet silhie,nzepwre.biltngentdheirall
diet.%
palpierroebtotilondersowtiosooyepokmee.w,ccrewnbreit
should tend to deprive them a their vented rights. The results of the
disetosion were thee:—l. The report woo adopted unanimously, !
ordered to be imeoltately printed, and sent to all the members of the
national iusemh y, with a view to put them in powession of tin- real
opinion of the shareholder& 2. The board of dinettes, to whom a
vote of thank+ ruin perfect confidence was parsed, were rt.:lwatt d to
watt to pertain 011 toe bureau: or committees of the assembly to whom
the hill was retorted, and state the objections tont, as well se to &lead
In every way the interests Le the company, 3. To the hoard was ad.
joined the committee et accounts appointed at the previous general
meeting, and a new committee of three shareholders, composed of
MM. Orfila, cie Bellevue, and de Vulcan., in order to give greater
weight to the repremntatlons ot the hoard. 4. The great object of
these gentlemen, it was decided, ought to be to do all in their power
to oppoee the repurchase ot the Ilse, and ,f they failed in that object,
to endeavour to obtain more equitable terms than the Minister of
Finance had offered. Juet before the meeting sepal Med, M. Pereire
staled thet, with respect to the Munson winch the fourth rill of 75f.
had been paid up, there was every reason to suppose that, in case the
bill was voted by the Nations' Aesembly, spatial conditions would be
allowed for these shares. The meeting thee 'Woke up.
GitRAT LIU liMllO4 HO. -- Amulet Meeting.— Brussels,
May 17.-81 r W. Magna; in the ettair.—The accounts of the company
for the year 1647 were presented to the Mein and eggrovai. The
Chairman stated tnat a negotiation of peat importunes, hod been
opened with the government on the wept of the 11.111e,C410f. of
mutton money which remained in their leentle. as geosatee for the
executi do or the railway learn Namur tO Adm. Ae peepeetkal the for-
feiture et the shares on which the adis hew set bon peed, the diree.
tors annelMent Chet a further extol= d tame will be grantevl up to
the 28th d hos. This resolutios wee amprehel; but it woe %Mani-
canna, guild aid. eat that liffira, doe feeehles should declare the
forfeiture eiriebr. hal ing= xtr. or"' the
were baggy* bellsible be node thing=
thet leeseset et she nit et II pia mot =rig:, would be
edil se demi Ittr So sweet term. A imputed
SO septened their satielhellea *lli execution
et the yetis BM tWOOKI thee WM exercised.
IheChekmei thea selmilbell espeet laesedel, hi he printed fur the
Edlibb ebesetiolarea • yesetha mee so to the Channels
roe tin to tbe expeeedes et Ihe stew* oemiliesee that the oele•
peui woad be In • assdkisa IsysziOste the webs wasafpierA
Matto procure to the Millleileidgellellatielaethei flillitlidgidel MP.
venue. nually, throng* won Mllletteaely voted to the cheirmea end
direetOn for the trouble they Whim.

In a
should the state restore the tulsoco of the eaution

money, amounting to _ __—
000 40
,

nen still would remain ... 26,41,e000
to be provided, • bleb, the report declares, it does not think d Cam.
'able it, obtain during the present year. by the ra port of the go,
at Ihrectore, it appeared that the whole of the run.• received up to
weember 31 by the company, by calls, Interact, tee., amounted is
101,246,1411. 66e.; the outlay was 116,35,1,00 Mt "Sc., *ape,
wipe -.3,1190,232f. Bk. Out of that upedaht 17 630.615 t. t. had
setn depodted in rentes and securities as caution money with the gp.
it:raiment , 7,664957 f. 44e. were lodged in each at he Back of Frac.,
and f1,101,17ht. 17c. were In rentee. the email attic which renalsej
had been laid out in fun nil ure, tic. The promiwes ut the *sister of
Finance under the former government had Nan mo to, mai to gins
arebdance to the company, that it had continual aeries the we*
winter to make 'reparations for us ging on the oak.w what gtebl
activity, so as to open the part from Lad n to Chalon* in July, a
that from Paris to tonnerre In September. The revultition clone and
d everything. It then temple impossible t., obtain the pay.
ment of the calls, and on the other hard the Nimister of tinder de,.
cured that if the works were stopped the state would substituse itself
ituryelve fur the company, recommending the board, e*
untrue at could pursue, to sell the rents., which th.• aamwny am.
wooed at whatever could be got for them. The end of the rn liter mg
that the company was obliged to sell who erer note it amid dives
of, and thereby lost 8,017,349 f. The most rigid cconsatay had been in.
'menaced int every department of the service, and the sums coons'
slue to the directors lot their attendance at board meetings hod aww
nevem:led. The report then treats of the government hill, and .ft
pone ing out its spnlisting character proceeds thus s " We loudly ds,
star, that there will be an Iniquity in taking se the valuation of our
n•erpriee the market pike of the shares at any period and yank.,
laxly during the state of financial critic w►nch precede* the rem.
lotion of February. Knprmaing that this rub., an be itedSy cloned to
thew• hues whose revenues are known, and whose tulle were etas
tem], paid up, we affirm that it lain sptilleable to the Ln,o in muse
of couetruction, for which considerable calk remain lobe paid up, and
the shares of which must eons. quently mom• VITIteUII4 ly hel the ie.
[Weal depreciation resulting from toe financial crises, it e
but that the national assembly wall reject the proposed rule localism.
Crag the indemnity which will be legitimately due to us ; th • mew
mention of the sum to be given on es a compensation r the 154
a Melt we have arid, 61. of 5 per cent. rests, is *efficient c' point cut
the ap dilatory character et this preterded indeatandy. 61.01 rents!
teat 171 to Nly, according to the present rate, ohs-et 33,,ggi,000f•
Ilse the re.phrelmae of a reel expense. or too million., when es
.!enter to the elate The works hum Dijon to for whirl
we have paid t. the government itself, 11,000,00ef. ; lands which we
haw purchased, 20,006,16mit.; rails, chair•, 'teepees, Material. of al
kind, which seat us 52,080,04.4.; embankment and works °fart els.
cuted with as much teonOnny ea skill. and an which we have exec/dad
an,oloymus.; making together 90,0 0,01.X1f. of seal incontestable '.lw.,
which will he 'educed to • wart of tiers consd,de. tertionly the Na.
nacre! Assembly will n•A sanction such a epidiation." 'the accounts
were then estop ed Conditionally, subject to a committee if *tory.
After the official proceedings had terminated, one of eb .rela4,
tea . a memorial, which at was the intention, he said, of noise of the
shareholders to prment next day to the listened Anaembly. Itapo►l
strongly against the government plan, and wan in certain parte 19.
plaudett

rue.,
44 164 1,1•Mi1.6 a 44.1apitaw Ili 6 7
12 Do. Now, 601 314
ails
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