The Express.
London, England, 1853-01-17 00:00:00

*lag a merely formal measure, yet this capital is
Temporarily locked up. The disposition evinced on
the part of the banks to realise a portion of their
outstanding resources also tells on the market. In
the railway market both yesterday and to-day sales
1 pawned stocks were carried on, and the Liverpool
meoents show great discouragement on the part of
the bulls there, so much so, that they are not only
selling the stock which they have open in the mar-
ket, but are also turning out what they have in
paws. As the public are decidedly not at pre-
sent in the market as investors, it is thus
inferred that stock will be more plentiful
in the dealers' hands, and that a deprecia-
tion must necessarily ensue, unless indeed the bulls
should retain sufficient confidence to "come in
again." The announcement of the Brighton divi-
dend has produced an unfavourable effect, not being
so large as had been anticipated. It is reported that
the smallness of the dividend is mainly owing to the
heavy expenses caused by accidents—a considera-
tion which, it is to be hoped, may induce greater
care for the future. The London and North Western
dividend is currently reported at the rate of S per
cent. per annum only, owing to the Quarter Shares
coming in for dividend this half year for the first time.
Under throe circumstances, with the chance of the
Bank further raising the rate, and with a temporary
suspension of the Australian gold influx, it is obvious
a decided cheek-has bees oven to the buoyancy of
the markets. At the same time a single week might
effect a great change in a favourable direction, and
looking at the continued satisfactory position of the
commerce of the country, it is certain the present
reaction can be but temporary. It may, however,
be the more severe, owing to the disposition of the
monied public to hold off, with a view to coming in
upon lower terms.
Consols opened this morning at 991 to 4, and after
falling to 991, finally closed at 991 to 1 for money
and Tuesday. Arrangements for the settlement
of the account are now engaging attention. The
Irate of contango to the February account is a shade
I higher, being Ito 3-16 per cent. The official busi
ness report is annexed :—Three per Cent. Consols,
for money, 991, 1, ; ditto, fur account, 99:, 1,1.
Three per Cents. Reduced, 1001, 1,1, 1. Three-
and-a-Quarter per Cents., 1031, 1,1, 1. Long
Aenuities, 1860, 6 7-16, ; ditto, 30 years,
1860, 61.
The altered position of the money market con-
, dimes to drive down Exchequer Bills. Sales were
made to-day at 665., 685., 635., 645., and 655. prem.,
and the closing price was only 625. to 655. prem.
Yesterday's clueing rate was 665. to 695. prem., so
that the fall is 4s. This decline is sufficiently signi-
ficant. In India Bonds there was less business, but
sales were effected at 755. prem.
Foreign stocks are heavy, and in all cases where
sellers have come forward prices are lower, includ-
ing Spanish, Sardinian, Equador, Dutch, and
Russian. Mexican Bonds, however, remain well
supported. Sales are marked as follows :
Brazilian Old Five per Cents., 1021; ditto Four-and-
a-Half per Cents., 1832, 981; ditto Five per Cents.,
1829 and '39, 1021. Danish Five per Cents., 108.
Dutch Two-and-a-Half per Cents., 661, 1, 66 ex
div.; ditto Four per Cent. Certificates, 98, 1, 974.
Equador Bonds, 51, 41. Granada One-and-a-Half
per Cents., ex Dec., 1849, coupon, 211; ditto De-
ferred, 12. Mexican Three per Cents., 23Z, 4.
Peruvian Six per Cents., 103. Russian Five per
Cents., 119; ditto Four-and-a-Half per Cents., 1034,
1041, ex div. Sardinian Five per Cents., 931.
bpanish Old Three per Cents., 471, 48, 471 ex die.;
ditto New Deferred Three per Cents., 231 ex div.;
ditto Passive (Converted), 51; the Committee's Cer-
tifs., 51, 4„ per cent.
The Antwerp Journal du Commerce announces the
failure of the firm of Messrs. Ullinger, of Vienna,
with liabilities estimated at 270,000 florin., and
assets at 200,000 florins.
A half-yearly dividend is advertised as now pay-
able on the shares of the Crown Life Assurance
Company. Interest at the rate of five per cent. per
annum is also payable on the paid-up capital of the
`Times Life Assurance and Guarantee Company.
The imports of specie and bullion this week have
been extraordinarily heavy owing to the almost si-
• multaueous arrival of the Australian and West In-
dian steamers. Our statement includes the under-
mentioned sums, viz., by the Australian, 222,293
ounces of gold, besides a further sum, estimated at
• about 200,0001., in the hands of passengers ; 104,000
dollars by the Africa from New York, 1,671,000
dollars by the Magdalena from the West Indies,
and 1,4201. by the Iberia from Portugal. The total
value of these imports may be stated at nearly
1,450,0001.
On the other hand, the shipments have also been
larger thau usual. The custom-house statement of
the exports of the precious metals direct from Lon-
don during the week ending Thursday is as follows :
Gold coin: to Hamburg, 72,905 ounces; to Belgium,
9,100 ounces; to Boulogne, 2,0001.; to Sydney,
121,5651. Gold bars: to Calais, 11,000 ounces; to
Hamburg, 24,538 ounces; to Belgium, 2,000 ounces.
Silver coin: to Boulogne, 5,100 ounces; to Belgium,
25,960 ounces; to Hamburg, 3,000 ounces. Silver
bars: to Hamburg, 6,000 ounces; to tloulogne, 650
ounces. We have here a total of 119,393 ounces and
123,5651. in gold, and 40,710 ounces of silver, repre-
senting an aggregate value of nearly 600,0001. The
quantity of gold despatched to Hamburg was 97,293
ounces, worth 367,0001. Of this amount 72,905
ounces were in half imperials, and the rest in bars.
Nearly the entire of these shipments to Hamburg
was destined for Russia.
We are also advised of coin shipments as follows:
—Viz., 75,0001. by, the Royal Alice, and 30,0001. by
the Calloe, both for Sydney ; 20,0001. by the
Sapphire, tor Geelong and Port Phillip; 20,0001. by
the Brunette, and 20,0001. by the Poten-
tate, both for Launceston; and 21,7671. in specie
and jewellery by the Teviot for the Brazils. The
total shipments from the Kingdom for the week are
thus raised to about 786,0301., and there is conse-
quently a balance of imports over exports to the ex-
tent of between 660,0001. and 670,0001. It is proba-
ble, however, that a portion of the Australian ship-
ments above particularised is included in the London
Custom-house return, and is therefore stated twice.
The gold cargo of the Australian will not appear in
the Hank of England balance sheet for upwar& of a
fortnight, as by this afternoon's despatch the Austra-
lian had only just arrived in the Downs from
Plymouth, and the gold will have to be melted
before the Bank will purchase it. The amount of
the precious metals brought in by the Magdalena,
being chiefly in silver, will be merely deposited in
the Bank warehouses, from whence it will be with-
drawn, when sold, and shipped to the quarter for
which the demand is most brisk, without (in all pro-
bability) figuring at all in the Bank returns.
The Berlin official Gazette has just published a
statement of the receipts of the twenty-five Prussian
railways for the eleven months ending the 30th No-
vember, 18.52. These returns afford evidence of a
melody increase in all the lines except one, the Co-
love-Bonn, on which there is a very trifling falling
aIL The aggregate increase is 1,667,000 rix dollars.
The chief increase is in the following lines, viz., the
Berlin-Anhalt, Berlin-Homburg, Cologne-Minden,
Thuringian, Nether Silesian and the Marches, and
Upper Silesian. It has been for some time in con-
templation on the part of foreign bankers, capitalists,
and others, to endeavour to make a market in Lon-
don for Prussian and other German railways. At
Hamburg, with which our merchants are in such
close connexion, a very large business is done in
these railway securities, but there is no market for
them in London, although the shares and bonds of
French and American railways are freely dealt ia
here.

Herapath's Journal publishes an useful table of the
total receipts of British railways during the 26
weeks ending the 26th December, 1852, as compared
with the corresponding period of 1851, which in-
cluded 15 weeks of Exhibition traffic. The compa-
rison is eatremely favourable to the present season,
as showing a considerable general increase, and a
falling off on only four of the metropolitan lines.