The Express.
London, England, 1848-02-15 00:00:00

MONEY MARKET.

MONDAY RIMMING.
Until somewhat late in the day, the appearance of
the stock market was languid, and inclining rather
downwards, with Console at 891 to 1 money, and 891
to 1 for account, or below the closing quotations of
Saturday. Prices, however, took a start subsequently
on some purchases, which were of no particular account
as to magnitude, but carried weight as apparently
indicative of further more extended transactions in
the same quarters, if they could be accomplished on
or about the same terms. From the foregoing
%notations, Console advanced to 891 to 1 for
time. but left off better still, at 891 to 1 for
time, and 891 to a for present transfer. The
great easiness of money in the house, and the abund-
ance of it out of the house as well, are sufficient to
account for the rising tendency of public securities.
When money can be borrowed at 2 per cent., or
thereabouts, upon Consols yielding 31 per cent., the
speculator for the rise pursues his operations from an
easy position. Re can well afford both to purchase
and hold larger quantities of stock, and to run some
risk of loss, so long as the came facilities arc possessed
for placing temporarily such excess of amount, for
which his own unaided means might be inadequate,
upon conditions so advantageous. Reduced Threes
were 891 to 1. Three and a Quarter per Cents.,
901 to 1. Long Annuities, 9to 1-16. Exchequer
Bills, due in March, 18s. to 225.; the June bills, 23e.
to 275. premium. India Bonds, 18e. to 21s. premium.
Bank Stock, 200 to 202.
Beyond a slight improvement in the quotations et
Mexican stock, founded on the probabilities of the
conclusion of peace with the United States, as repre-
sented, though contradictorily, in the advice, brought:
by the Cambria, the Foreign market was without'
change, and with few dealings. Mexican were called
181 to 191, but with scarcely more than a bargain
reported. Brazilian, 851 to 61. Venezuela, 39 to
40. Spanish Fives, 211 to 1; the Threes, 311 to 21 ;
Passives, 41 to 51. Portuguese, 26 to 7. Dutch
Two-and-a-hlalf per Cents., 64 to 1 ; the Fours,
8,51 to 6.
The Cambria brings accounts of a considerable
improvement in the money market at New York.
Exchange on England was quoted from 1091 to 1101,
with more bills however than takers, although confi-
dence was clearly gaining ground. The chief cause
of disquietude was the impending loan for sixteen
millions of dollars., or more, which it was understood
would be required to cover the waste of expenditure
incurred by the war with Mexico. The scheme of
raising supplies by the issue of treasury bills had
apparently been abandoned, as in its results unsatis-
factory and not affording the accommodation desired,
for it was found that on the slightest money pressure
the bills fell below par, and were then paid into the
collector's office for customs dues with a manifest
advantage to the importing merchant
The Carlisle Patriot of Saturday reports the meet-
ings of the proprietary of two Cumberland joint stock
banking companies, the profit results announced at
which are calculated very much to throw into shade
the moat successful exhibitions of metropolitan and
most other joint stock bank balance sheets, and, to
use a vulgar phrase, to make the months water of the
less fortunate dividend recipients of other concerns.
At the annual meeting of the Carlisle and Cumberland
Company, the report of the directors stated the net
profits of the bank for the last year at 5,9971. 153.,
being at the rate of 111 per cent on the paid-up
capital of 51,9251. A dividend of 81 per cent. was
thereupon declared, clear of income-tax, and the sum
of 2,4991. Bs. 9d. carried to the reserve fund, which,
with this addition, reached the respectable amount of
15,7831. 15s. 10d.
The results in this instance, gratifying as they must
appear, were still considerably surpasaed in the rival
case of the Carlisle City and District Bank, the
eleventh annual meeting of whose shareholders was
also held last week. The net business profits of the
year were declared at 8,885/. 125., or 151. 6s. 41d. per
cent. on the paid-up capital of 58,0001., showing
an increase of 11. Ile. 31d. per cent. over the
profits of any previous y. ar. The profits of the
last six months were stated at 4,7161. 10s., or at the
rate of 161.55. 31d. per cent per annum. A dividend
at the rate of 10 per cent per annum bad been paid
for the half-year ending with the 30th of June last,
and a similar dividend was then declared for the last '
six months. No tomes had been sustained during the
last half-year, and a bad debt reported in the June
account of 2501. had been reduced by a dividend re-
ceived to 1911. Gs. 6d., and would be further reduced
by a future dividend. The residue of the profits was
carried to the guarantee fund, which made it com-
plete at 19,333/. Gs. Bd., or one-third of the paid-up
capital, in conformity with the resolution of the gene-
ral meeting held in February, 1847. In addition to
this the auxiliary fund, after payment of income-tax,
showed a balance of 621. 17s. sd.
We learn from Edinburgh that the Scotch banks
began to allow, from the 12th inst., 31 per ceir. on
deposit, and 3 per cent on current accounts.
stitetieu FIIN 100.
Bank Stock. 200 India Borah, under £l,OOO. 19
3 per CA 0050.dueed Amu. Ur I Camera, for awl., 884 1
3 per Ct. o Anna, 89/ Lech MK £1.00„ Si, June, 27.
39" Autt/I9jl 1840• Dttl74: larch.
22
"
11.16a2`. s". L... • Dna, 5r.ii.j!:17,6:10 22
Ditto 30 mars, exp. sth Jan.. IMO,
84 11-11'
101111011 MUMMA.
5 per Ct. Dradhan 8,),., 854 par CA Elranl4, Bond., 211
Ditto, dina/1. itto. Cool,. llond.t, 42
per Ct. Dltto New, 1843, 81 Blot Ct, dpanieh Bonds, 32 11 21
1 per Ct. Grenada I.lek Deferred, 4 2/ per CO. Venezuela 11M., IL
5 per Ct. Mexican, Ace Feb. 29, 191 24 per Ct. Dutch Er.. 12 Glut, 54
5 per Ct. Portuguese Wu, 81 4 mar Ct. Ditto Castile.. 331

RAILWAY NEWS.
The dealings in shares were extremely limited
during the greater part of yesterday, and the market
was heavy, but towards the close of business a rather
better tone was displayed as Consols advanced.
IKEETINOB.—Lownote, BRIOILTON, AND 800T11 COAST.
440.... ed **yearly
.11beting.—Mr. C. P. Ciente% ehalr-
man.—Tbe
was hams taken their mate, the chat:ran Immured
whether It was the Inman of the nein (which was a wry full
one, there being at leset toe etureholders present) that the meet
shoed be moil I The ninon was met bye general dimeties, and
the serstary proceeded te read that docureat, which set birth that
the trio of the anew lei authred, the pee IW-year,
hma the immure of Int*" and the tatesordinary Gen la the
fronterehil Iln IS araiap ewe Minh, bin on to.
rear 43,sirm. the erienegaremeporied et jeog yam on the
INA Ur, however, between Larks emit getateemeared with
tlea eorreeponding half-ree 16115, the wen whole
NAIL ; end on the Croy line by 2,0801. Cps the
Mg* of the line mow epos the proceeds triereled to 1,6491.
• pet WM. From various erase •emahlmatie ferrewee of
espolleters bad ham Plook.Polearwhf _la the betesethe
diartment- A large eopylly ea erase me boom,. kitten
' mewed, end arrangements made toe the maamideet Mehelbetnee
r dab, by shkb the rocopeny would benefited Is eney theorems
arrttaercy all they required. No ebony Mir ametaak eaerteleo, or
=
ack bad been tweed to capital, tame 800 waft.. be the
of can clan -4i Tendon necemary by the 'mond easega of
the meapel. The directoratapeeteel to be able to male a hilted=
griaWliture In the cue of the Londoe-nidoe wary.„ ima the
nations now rabeheing hewers Me douthaelera end the
=y. They propped aim to nlinoutsh the Ilmnsimerifia
paid them for the taamaemesi of that @Wm. the
,emtuat of caveat %pea whin the' *Mead vas wit gem-
eta greatly ezeteded that of the emememieem
of In yew.. winch aroma not only tram ea faj s enjg iTs 6."
apical, at from the Wenn hereunto darnel taameageedmeme
capital being now eltelether charged, „„te to ceralmaibero
the dew of the
Lmt=e4t.blPee!lge s!. •••• slahltiee