The Express.
London, England, 1853-05-14 00:00:00

MONEY MARKET.

FRIDAY

We are happy to find that the
remarks made rela-
tive to the absence of any official notification as to
the progress of the conversion have not been disre-
garded by the authorities. The subjoined shows the
total amount of the new stocks applied for up to this
evening:

TO-711E EDITOR OP TUE REPRESS.

Bank of kngland, May 13.
Sia,—l am directed by the Governor of the Bank to in-
form you that the amounts of the new stocks accepted up to
this evening are as follows:
3/ 10e. per cent. annuities
21. 10s. per cent. annuities
Exchequer Bonds
The statement of each days assents may be had by appli-
cation at half-past three o'clock at my office.
I am, sir, your obedient servant,
WILLIAM SMEB, Chief Accountant.
This gives a total of 1,168,6291. only, certainly a
smaller amount than had been anticipated, but still
there is no occasion for cavilling at the experiment,
for, as we have before suggested, stockholders are not
called upon to exercise their option at once, and
as a natural consequence, prefer waiting. Thus far
the applications have been almost entirely for the
Two-and-a-Half per Cent. stock (issued at 1101. per
cent.), and in this fact we have so remarkable a
fulfilment of our anticipation, that we may perhaps
be excused for referring with some complacency
to the subject. Mr. Gladstone may possibly still
entertain an idea that the three options offered
by him are of equal value, but the market is more
astute—as we told him it would be.

The official notice about the Exchequer Bonds is
given in another column.
The funds were again rather flatter to-day, al-
though not closing at their worst point. The Consol
market is still languid, owing to stock being steadily
supplied, and to the general money market retaining
a tight appearance. Money was worth fully 21 to 3
per cent. in the Consol market, but in Lombard-street
there was notquite so much demand, and in some cases
a slight relaxation of rates was submitted to. Rumours
are beginning to bo current of an alleged disposition
of the Bank of England Directors to raise their rate
of discount, in the event of no amelioration taking
place, and of gold continuing to flow to the conti-
nent; but there are several reasons why the Bank
should not adopt such a step hastily, not the least
important of which hinges on the consideration that
a rise in the general rate of discount to Three-and-a-
Half per Cent would inevitably strangle the govern-
ment conversion scheme. Under these circumstances
so such movement on the part of the Bank is at pre-
ant expected.
Consols dropped to-day to 1001 to ?, for money,
and 100) to / for time, but the closing price was a
shade better, being 100/ for cash, and 1001 to 13.16
for the Ist f May. The market is still surcharged
with stock, the speculators, as a whole, being
"bulls," upon the faith of the government financial
measures. Its chief support continues to arise from
speculative operations. The Three-and-a-Quarter
per Cents. were especially flat, receding to 1021 for
money. Reduced Threes continuo to be supported by
the investments of the government broker, who took
his last parcel for the week at 99). The official
business report embraces :—Three per Cent. Consols,
for money, 1001, .2, 4, a ; ditto, for account, 100.1.
Three per Cent. Reduced, 99), 100, 99.2. Three-and-
a-t.ruaiirr per Cents., 103, i, 102). Long Annui-
ties, 1860, 5 15-16, 5). India Stock, 261, 262.1
South Sea Old Annuities, 991; ditto New Annui-
ties, 100.
Exchequer Bills were rather steadier at par to 4s.
prem., for both the March and June issues, upon
some purchases believed to be on account of banking
iuterests. India Bonds mark 30s. prem.
Foreign stocks have sympathized with the heavi-
ness of the English funds, and have tended down-
wards, except Buenos Ayrean Bonds, which have
again improved, upon statements on the authority
of New York papers that the preliminaries of peace
had been settled between the city of Bue-
nos Ayres and its besiegers. Spanish, Mexi-
can, Granadian, Peruvian, and speculative
stocks generally, were rather flatter, without,
however, any material decline. Portuguese Con-
verted Fives were done at 381 to 39, ex all overdue
coupons. At four o'clock, Mexican bonds were quoted
261 to 1; Granada Active, 221 to 231; ditto De-
ferred, 101 to 11; Peruvian Deferred, 64 to 66 ;
ditto Four-and-a-Half per Cent., 3 to 31 prem.;
Spanish Deferred, 23; to 241 ; the Certifs., 61 to
per cent. Subjoined is the list of actual sales, viz.:
• Brazilian Four-and-a-Half per Cents., 1852, 1001;
ditto, Five per Cents., 1829 and 1839, 103. Buenos
• Ayres Six per Cents., 72, 711. Dutch Four per
• Cent. Certifs., 961. Granada Deferred Bonds, 10,1.
• Greek Bonds (Red), 91, 1; ditto (Blue), 81, 9. Mexi-
cancoupons.fe riT h
Threerce
it per
us
Russian
per
arC Cents.,
enFtnos t a
..u,
r 2:
a6n2ld3,
-11 a, ...1214a1f;
thep •r PeruvianFour-and-
;ccntsCommittee's.li 4
i.
a-Half per Cent. Bonds, 88: ; ditto, Scrip, 31 prem.
, Portuguese Five per Cents., 381, 39, ea all overdue
Spanish Old Three per Cents., 49; ditto, New De-
; Certifs., 61, 61 per cent.

10s., and British American 30s. Crystal Palace
shares have again been actively dealt in, and have
risen to 21 to 2 prem. Australian Bank shares were
rather flat. Oriental Bank continue to improve.
Shares of the Provincial Bank of Ireland were done
at 51 ; London and Westminster Bank, 351; South-
ampton Docks, 38; General Steam Navigation, 301 ;
Peninsular and Oriental Steam, 85; Grand Trunk
Railway of Canada shares closed flat at t to 1 prem.;
North of Spain Railway, 4 dis. to par ' • Berlin Water-
works, „ to 1 prem. ; Grand Central Railway of
France were better, leaving off 1„ to 21 prem. on some
considerable purchases, partly on French account.
The late decline hero appears to have been assisted
by the apprehension of a call, which proves well-
founded. The agents issued a notice this afternoon
in which they mention that, the concessionaires in
Paris having considered it best for the interests of the
company that a deposit of 200 francs, or 81., should
be paid on the allotment of the shares distributed
there, it Las become necessary that the shares allotted
in London should be put upon the same footing. A
further sum of 41. (making N. per share paid), must
therefore be paid by the 21st inst. This deposit of
81. per share 111 an unusually heavy one, and the fact
that the shares are still at a considerable premium
attests the avidity with which the project has been
received upon the French market. The agents
add, in their circular, "The statutes of the company
are now before the Council of State, and will shortly
be approved by the French Government, when the
receipts will be exchanged for the Certificates of the
Company."
Annexed are the latest reports from continental
bourses, as received by Mr. Reuter's telegraphic ex-
press: —Amsterdam,Thursday: Dutch Four per Cents.,
949-18 • ditto Two-and-a-Half per Cents., 63 9.16 ;
Spanish Deferred Three per Cents., 24 ; the Cou-
pons, 69.16 ; the Old Three per Cents., foreign, 48;
Mexican New, 261; Portuguese New, 39 5-16 ;
Austrian Five per Cent. Metallies, 831; Granada
Deferred, 11 1-16 ; Peruvian New, 87. Vienna, Thurs-
day : Five per Cent. Metallics, 94 13-16 ; exchange on
London, 10.39; Bank shares, 1,474. Madrid, Tues-
day : Three per gents. Interior, 44; ; ditto, De-
ferred Three per Cents., 24 ; the Passive Bonds,
5 9-16 ; the Coupons, 4.
The account of the position of the Bank of Eng-
land for the week ending Saturday last, the 7th
May, is as follows:
BANK OF ENOLAND.-_-_Accoc3t for the week ending May 7.1833.

Ifni! DIP

Not. Law]

-a—vertuatm— t Debt.— £ll.oloare
Other ttecurttiaa 2.9q4.900
Gold Goth and Wilco 17,775.086
elllser Halm 19.154

01,74430:
111•11EING DI
Proprietors' Owl •f• I smara
40.)m0
Rea 3.146,
Futile Depatts (In dud
Nutteq.. Her.
flannle. of XIII=
Debt.* Aceta.) 4,265,469
Other Dopoeito
sereraday and other Mlle 1.411032

A 31.144,240

7Crienror4lt Paciattio
028184. Deal %eight
Awn+ ...... £13.221,382
Metz%oarlike 13,808 RA
Notes ........ ...—' 8 1p..395
Opid sad Kiva Cola.. *CSOBI

5,581.224 £35.50.924
Hap 12.1853. 0
M. MARSHALL. Chid Cubler.
This return, when compared with the previous
week's balance sheet, shows the following re-
sults :

Circulation issue
Circulation active 23,469,845 Increase 347,290
Public deposits 4,265,469 Increase 331,117
Other deposite
Government securities in
banking department
Other securities in banking
department
Coin and bullion In both
departments
Seven day and ether bills 1,418,032 Decrease 9,705
The Rest
The Reserve

In the present position of the money market, the
future course of which is invested with so much in-
terest, this return presents several variations of im-
portance. In its several features it attests the con-
tinuance of the demand for money, which has also
been noticed throughout tho current week. The
large decrease in the private deposits is a feature of
some importance. Tho decrease of nearly half a mil-
lion in the reserve, notwithstanding an increase of
331,1471. in the amount standing to credit of the
Treasury, is also deserving of attention. The in-1
crease in this last-named item is not so considerable
as usual, and it would be interesting to inquire how
far it is affected by the uncertainty induced in coin-
mercial circles by the debates on the Budget. The
deereasein the Bank's stock ot thepreeions metals, in
face of a large specie and bullion importation during
the week embraced, proves their continued reship-
ment almost as soon as they reach us.

LONDON COURSE OF EXCIIANOE.-MAY 13.

Time. Priers as segotiaten this day
Bills and M. Money.
Amsterdam rer Z Short 111. 151stv. ... 1111. 16 ate.
Ditto
Rotterdam ,_ n n lilt. Illstr. .. 111. Mistv.
Antwerp g .. „ 25fr. 29tc. ... 25fr. 27ea.
Brussels
Ramlnug and Altana ~ „ 13moi. et ecbl. 13mcs. b‘wili
St. Petersburg per ruble 371 ornee ... 3211 Penes
Paris per 1; lithZ:rt Mfr. 05c. ... 251 r. 10a.
Ditto ,,, 3 Months2l o.
te. 2C. ... 25fr. 21t
Marseilles 0 25fr. 25c. ... r .fr. 300.
Pranalurt-on-the-Maine K OKr £lO „ 12001. lob ... 12010. kr.
VOOOl3 (effective) pert „ 10.1. ilia. ... 1011. 531 a.
Trieste
Madrid per jaw 505 peace ... k
.7llt Prow
Cady Sol pellet. ... prom
Bilbao .. 0
" 500 Fence ... 50 pewee
Barcelona
1 Malaga 0 SS sin pence ... 501penos