The Express.
London, England, 1851-05-12 00:00:00

RAILWAYS.

This DAY.

Two °Twat.
Shares opened with a very heavy appearance this
morning, numerous and extensive sales press-
ing upon the market, and priors speedily ex-
perienced a considerable roductiGn. The fall
was most remarkable in the larger stocks, Great
Westerns dropping to 86; Lancashire and Yorlathires
to 80;; London and North Westerns to 126; and
Midlands to 60. Since the cessation of these opera-
tions, however, a decided rally has taken place, and
the present range of quotations is, upon the Ifholo,
about equivalent to that at the close of Saturday's
market. A considerable amount of business has been
transacted in particular lines.

SHAIUDI AND sroo&e UNGIT,

Cowart penes
Sturday.

MONEY MARKET.
THIS DAY. _

Two o'Creex.
To-morrow being settling-day in the Consol mar.
ket, the adjustment of the balances arising out of
the last month's time bargains has formed a main
feature of business, and the requisite arrangements
have contributed to preserve the firmness of the mar-
ket. Prices at one time in the course of the morning
attained a fractional advance on Saturday's rates,
but the improvement has not been maintained. The
bunnesa in the money stocks to-day is upon a very
small scale. and generally the market is quiet.
Consols have touched 97; for cash, but are at this
moment quoted only 97} to !, both for money and
to-morrow, being a shade below the final range of
Saturday's market. For the next account, which is
fixed for the 10th of June, the rate of " continua-
tion " has ruled at to 3-16. The official report
of to-day's business comprises:—Three per Cent.
Consols, 97ff', !, ; ditto for account, 97t, ; Three
per Cents. Reduced, 96; ; Three-and-a-Quarter per
Cents., 98, 971 ; Bank Stock, 2l0), 210.
Exchequer Bills are unaltered in price, the present
quotation being 495. to 325. prem., at which rates a
moderate business is doing. India Bonds, 1,000!.
mark as: prem.
The foreign stock market is generally firm, though
without any extensive range of business. Mexican
Bonds have rallied to 35:, notwithstanding the
staxments relative to the intentions of the Mexican
government to endeavour to raise a loan to meet its
pressing exigencies. The telegraphic despatches
containing a summary of the news by the America
steamer just arrived at Liverpool, like the former ac-
counts, decidedly unfavourable to the financial con-
dition of the country. A report of a Russian loan
being shortly required for the construction of the
railway between Moscow and Warsaw, has also been
bruited about for some days past, but the price
of these stocks is well maintained.
The Four-and-a-Half per Cent. Bonds to-day mark
100. To-day's business report is as follows :—Buenos
Ayres Six per Cents., 3.7 i, .i 6. Mexican Bonds, for
account 16th May, 35!, Peruvian Five per Cents.,
1849, 83. Portuguese Four per Cents., 34, 33; ;
ditto for account, 331, Russian Four-and-a-Half
per Cents., 100. Spanish Active Five per Cents.,
for account, 19!, ; ditto Passive, 51, ; ditto Three
per Cents., for account, 39;. Venezuela Two-and-a-
IQuarter per Cents., 331.

SATURDAY EIIIIVING.
The rate of discount remains as last reported, with
a ready supply of capital. Persons are, however,
uncertain as to the continuance of present rates, and
disposed to guard themselves against engagements
precluding them from profiting by an advance.
Money is being taken from the discount market for
advances on produce, and next week there will be a
limited demand from the Stock Exchange, where
operations had been much curtailed previously to the
last foreign stock and share accounts, and have not
since been vigorously resumed.
The Southampton Dock Company are ready to
receive tenders for loans on debenture at 4 # per
cent.; the amount is about 11,0001. Among railway
companies, the North Staffordshire are advertising
for money at 4 per cent. ; the Eastern Counties at 4
per cent.; the Glasgow, Paisley, and Greenock, at 4
per cent.; the South Yorkshire Railway and River
Dun, at 4 per cent.; and the Furness, at -11 per cent.
Altogether, the demand for these operations is small,
and where debentures falling in are renewed it is at
more moderate rates.

The Bank of England returns, published in last
night's Gazette, show little fluctuation, and no fea-
tures of importance. A rise in the stock of bullion
is now looked for in a week or two. The joint stock
and private bank returns, given by us in advance of
the monthly abstract, show that the trade of the
country districts is reviving, and that a greater de-
mand for currency has sprung up.
The accounts of the Bunk of France for the week
ending Thursday last, the Bth inst., show the fol-
lowing results (2. francs for IL):
£22,173,828 Increase £116,534
Hulli•,n un depo,it t. ',t7l Increase 23,265
eireitlation
Public deposits
I•rinate ilepuNits 4,637,678 Increase 263,368
BUS a;..ountvil 4,956,8,39 DvCIV3,O 171,232
Uovernment securities 7,039,809 Increase 17,272
The stock of bullion in this establishment thus
shows a continuous increase.

The bullion market is without change, and not
much has been done. The week's large supplies
have not yet come in. In the foreign markets there
is no change of prices, although gold is in demand
fur remittance to this country, and therefore present
quotations must soon undergo a variation. At Paris
yesterday sovereigns were dcult in at 25f. 07, though
the exchange rallied to 25 francs.
American gold eagles have been lately sold at
76-a. 4d. per oz. Doubloons toe scarce, and nothing
has been done in them. The prices of other articles
are as follows:—Bar gold, 31. 17s. tkl. per oz. stan-
dard; Bar silver, without rld, 58. 1;t1, per oz.
standard ; bar silver containing gold, all gold above
5 grains in the pound to be paid tor, ss. lid. per oz.
standard; Mexican and South American dollars,
4s. 11 per oz. ; Spanish Pillar dollars, 5s ld. per
oz. ; United States dollars, 4s. 11;d. per oz.
The imports of the week include 160,000 F. by
the Africa, from the United States; 167,8631.
(555,662 dols. gold, and 283,655 dols. silver) by the
Great Western, from Mexico; (10,0001. by the Penin-
sular and Oriental steamer, Euxinc, from Constanti-
nople ; 3,9264 by the Peninsular and Oriental
steamer, Montrose; and 1,0001. (gold dust) by the
General Screw steamer, Hellespont, from Sierra
Leone. Much of these supplies will be sold in the
course of the next week.

The Sir Robert Peel liner is expected in from New
York, with 100,000 dolt'. in silver.

The amount of the precious metals exported direct
from London during the week ending Thursday last,
was again large, amounting to 427,300 ounces and
2,0001. in silver, and 1,363 ounces and 4,240/. in gold,
of the aggregate value of about 118,0001. The
account officially rendered is as follows :—Gold dust:
to Havre, 321 oz. Gold coin :to Hamburg, 323 oz.;
to Rotterdam, 239 oz.; to the Mauritius, 260 oz.
and 4,2401. Silver bar; : to Hamburg, 4,800 oz.;
to Belgium, 176,000, oz.; to Rotterdam, 193,000 oz.
Silver coin: to Dunkirk, 3,400 ox.; to Rotterdam,
10,000 oz.; to Boulogne, 3,000 oz.; to Belgium,
4,000 oz.; to the 11Iaun'.ius, 2,000/. _

Beside; the exports from the port of London, the
Tay, from Southampton, took out 56,1161. for the
Brazils.

Although the government is very chary of favour-
ing joint-stock enterprise in England, it has shown
itself more liberal in Ireland ; and no one will be
disposed to complain of this, as the resources of that
country now require every assistance for their deve-
lopment. The government has consequently a 11.%
l.% ed to the Irish railways greater borrowing
powers, and has even made advances to them, while
English and Scotch railways have been neglected.
Charters have been granted to the Irish Ameliora-
tion Society and other companies which certainly
would not be so favoured in England, and now we
understand that a charter is to be granted
to the Great Peat Working Company of Ire-
land. Neither the public nor ourselves are likely to
complain of this, although no charter has been
granted to any colliery company in England for fear
of unduly favouring joint-stock against private en-
terprise. In this reseed, at any rate, Ireland has
no reason to complain that so far as the government
can do so, she has full privileges for the develop-
ment of her resources. Among the most important
measures with this view, the reclamation of bogs,
and the conversion of peat turf into an article of
trade have always been among the most prominent,
and many are the commissions which have been ap-
pointed, and the oonoeasions which have been made
to render the large bog surface of Ireland
sysillahle. We are glad to see that the steps
taken have been so !kr successful as to
encourage the government to grant further canoes-

PAR'S, M•I, 10.

Pot Ae-ount.

36 30
90 G.:.

S par MM. 34 10 j 10 40 . MI 40 3O U
I per Omit&
4 per Cents.
3 do. New Leen
.
3 per Detre.
~II • • •• .
Exchange on Loft 14,n : ~l gain; 23 : II dayA, 21 1121.
Bele in, 5, lel*
Du. 3, 1443
Do. 4t
Do. 21
Pied:not t 3 p.a VIVI IA V 1... ! Hoak shyrn
.... abo
...
MAI. 1111), DIRT 6.—Three per Cents., 3.5 k; after Doha,
351 cash, 361 paper. Four per Cents., 14. Five per
Cents., 151 ; after 13014 a, 151 cash, 16 paper. Couporo.,
8 cash ; after Bolsa, 9 cash, 8/ paper. l'a‘sives, 61 ; after
Bohn, 6 5-16 to I cash, 61 paper. Bank ~t St. Ferdi-
nand, 1051 cash. Exchange on London, 60.90.
BERLIN, Mu 10.—Voluntary Loan, 105 t. New Loan,
Four-mid-a-Half per Cent., 1021. National Debt, 8.5 k.
Commercial Marine Society's Premium, 1281. Bank
Shares, 944.
VIENNA, 31.11. 9.—Flee per Cent. Metalliques„ 951;
Four-and-a-Holt per Cent. ditto, 844. Bank Shares, 1248.
Exchange on London, 12.62.

MINES.

(From the Dad, News.)

SATURDAY EVENINO.
The business transacted during the week in specu-
lative shares has not been very extensive, hut in divi-
dend and first-class mines several heavy purchases
have been made. On the whole, however, prices
have not been maintained, the general absence of
speculative movement exercising, as is usually the
case, a depressing influence on prices generally, as
the effect is more sensibly felt of the selling opera-
tions made by parties who buy to make a profit and
not to hold, and who naturally wish to get out of
their purchases when they no longer find themselves
in a rising market. It is scarcely needful to observe
that the effect of this speculative movement, which
is in its very nature variable, is usually highly inju-
rious to mining interests, as the state of dulness and
collapse which follows any feverish agitation of tlt
market, frequently inflicts a very serious check ,
upon the progress of mineral enterprise; but this
evil, as has been proved by experieuce, is irradicuble,
and it must not be forgotten that some beneficial re-
sults, though not, perhaps, correspondingly impor-
tant, accrue from this same agency, not the least of
which is the increased share of public attention that
during any spee,ilative epoch is directed to mining.
On the whole the
.prospects of mining adventure
are decidedly promising, as the proprietary body
is daily increasing in number and importance, and
now comprises a large section of the capitalist public,
by which this branch of enterprise was but a short
time ago regarded with decided distrust, as too hazard-
ous and vague to meddle with. With the encourage-
ment which will be afforded by a successful result to
the efforts now making for rendering the converti-
bility of shares more speedy and certain, a conti-
nuance of this state of prosperity may be confidently
looked for, notwithstanding any occasional temporary
reaction that may occur. The principal transactions
have been in Mary Ann, Trelawney, Tremayne,
West Alfred Consols, Alfred Consols, East Gun nis
Lake and Tregondon.
The following are the present quotations of the
market, taken from the official list of the Mining
Exchange of to-day :—AltiedConsols, 171, 18 Black
Craig, 5; Devon and Courtney, 15, 1 ; East Gunnis
Lake, 2; East Tamar Consols, 215.; East Wheal
Leisure, 134, 16; Oarrcg, I f ; Lamherooe, 16; South
Tanner, 11, 2 ; South Wales Mining Company, 21, 54
Stray. Park, 14, 145; Tincroft, 51,6; Tregordon, 6;
Treleigh Consols, 3; Treviskey and Barrier, 200 ;
West Wheal Alfred, 1}; Wellington, 19, 19 20;
West Wheal Francis, 201.; Wheal Mary Ann, 631,
641; Wheal Trclawncy, 531, 54 ; Wheal Tremayne,
231, 24.
In foreign shares—Australian, 1 to 11 ; St. John
del Rey, 151, 16; Cobre, 385, 9 ; Copiapo, 61, 71;
Comes, 11, 2; United Mexican, 31, 4 ; Santiago,
63, 71.

Metals.—We are yet without material change in
the metal market. Copper is steady, with a fair
home demand, and the small lots of foreign copper
which have arrived meet with purchasers at moderate
rates. Both iron and lead exhibit a rather down-
ward tendency, and tin plates arc lower. Neither
in tin or spelter have there been transactions of mo-
ment. The stock of the latter metal is upwards of
11,000 tons, and still increasing.

WAVENEY VALLEY RAILWAY.—On Friday Mr.
Bernal's committee reported the preamble of this bill for an
extension of the Eastern Union Railway to Bungay—
proved.
THAMES HAVEN DOCK AND RAILWAY.—The sumo
committee declared the preamble of this company's bill
proved for an extension of- powers for taking land, complet-
ing works, and division of the shares of the company.
MIDLAND RAILWAY.—The committee on this
company's two bills, tar regulation and increase of capital,
and for purchase of Leeds and Bradford Railway, on Fri-
day declared the pregnable' proved.
YOLK, NIWCAKILE, AND BERWICK RAILWAY.—
This company's recommitted bill for branch to West Dur-
ham Railway was SW declared proved.