The Express.
London, England, 1853-01-21 00:00:00

MONEY MARKET.

TEVUDAT
The Bank of England directors to-day adopted the
anticipated step, the minimum rate of discount being
raised from 2j to 3 per cent. The sitting of the
board was unusually protracted, and even at the
latest minute prior to the announcement being made
there were parties who strenuously maintained their
disbelief that the Bank would venture to make any
change. It is reported, however, in good channers
that the advisability of even raising the rate beyond
three per cent. has already been mooted
in the Bank parlour. The very generally
expressed opinion is that there is nothing
in the position of the money market or trade to war-
rant this further exercise of repressive power. There
is always a disposition on the part of the more
cautious section of the mercantile community to give
the Bank credit for knowing more than other people,
—owing to its being by position enabled to obtain
better information than falls in the way of commer-
cial men generally ;—but even in this portion of the
public considerable surprise has been excited by
the present step. Up to this time the effect upon
the markets has not been so serious as many expected
it would be—but the markets generally closed at the
worst prices of the day and with an unfavourable ap-
Crpearance. The effect upon provincial interests must
watched with solicitude, as there can be no doubt
a considerable feeling of uneasiness will be caused in
many quarters, and the general impression is in
the direction of a further decline in prices. The rail-
way markets, and other departments, it is suggested,
will very probably be depressed by sales of pawned
stocks on the increased rate of money. Of these

It is stated that a considerable portion of the gold
freight of the Australian steamer has been pur-
chased for transmission to the Continent. This pro-
portion will consequently not appear in the Bank of
England returns.
The Neptune has arrived from Sydney with
17,329 ounces of gold, worth nearly 70,000 i. Her
dates from that port are only to the 30th July, and
from New Zealand to the 30th September. H.M.S.
Swift has also arrived off Devonport, with
nearly a million of dollars from the Pacific
ports. One house, we know, has 120 thousand
dollars by this opportunity, and another
expects upwards of 100,000 dols. The sailing of
this vessel with her valuable freight from the other
side was announced in the Express some months
back, and contradicted at the time. The dollars by
this opportunity will add to the amount already
pressing on the market for realization. The Charlotte
has also arrived front Portland Bay with dates to
the 12th August, bat it is not yet known if she
brings any gold.

Miscellaneous stocks were dull to-day, but dock
stocks met with more business. Australian Agricul-
tural left off only 225 to 23 I. Sales are thus marked :
--Colonial Bank, 161, ex div.; East and West India
Docks, 168, ex div. ; London Docks, 129, 128, 129,
ex div.; St Katharine's Docks, 1001; Southampton
Docks, 394; Victoria Docks (21. paid), 31; ditto,
New (21. paid), 34 ; Australian Royal Mail Steam,
41; Crystal Palace, 3; General Steam Navigation,
29 ; Peninsular and Oriental, 88 ; Royal Mail Steam,
814, 81, 82. The shares of the Royal Swedish Rail-
way are quoted to * dis. ; Besiers and Graissessac
Railway, Ito dis. • North British Australasia, to
1 prem.; London Bank of Australia and India (for
which Wednesday the 26th has been appointed set-
tling Jay), f to 1 prem.
The first annual meeting of the Australasian Pacific
Mail Steam Packet Company was held to-day, when
the directors presented a report detailing the pro-
gress of the association. The number of shares sub-
scribed for and paid upon is stated at 12,126, leaving
only 374 for distribution in the hands of the direc-
tors. The proposed operations of this company were
noticed by us in the Daily News of yesterday. It
appears that such is the progress of the Panama Rail-
way that the entire journey across the isthmus by
rail is expected to be effected towards the end of the
year, when, in addition to the bi-monthly service of
the toyal Mail Steam Packet Company from South-
ampton direct to Colon, passengers will also be
booked through by the ships of the British and
North American Royal Mail Steam Packet Company
from Liverpool via New York to Colon, and from
thence to New Zealand and Sydney. The directors
conclude their report by congratulating the proprie-
tors on the very cordial reception the early establish-
ment of steam communication between Australasia
and England by way of Panama has met with in the
colonies as well as in the mother country.

The market for American stocks this week has
presented no striking feature, business being upon a
moderate scale, with a fair inquiry for most descrip-
tions, and little change in prices. Present quota-
tions are thus reported by Messrs. D. Bell, Son, and
Co.:

Redeemable. Dividends. Prices. I
United States 6 par Ct. Eds. 1863 Jan. and July 97 1$
Ditto 8 per Cent lids. ... 1862 Jan. and July 106 103
Do. 6 per Ct. do. d 0.... 1664 Jan. and July 1094 11..1
Do. 6 per Ct. 1n56N00k...18117-1148 Jan. and July 106 j 109
Do. ditto
New Wit State I per Cl.. 18511.1844 Quarterly 97 93
Pennsylvania 3 per CI. Feb. and Aol. 83 Nei dv
Do. 6 pee Ormt. Bonds. 1682 Jan. and July 92 9i
Ohio 6 per Cents .
NesmoburstM per Ct. eter-
ling Ronda
Do. 3 per Cents Dollar Ms 1872 limy and Nov. 974 954
Niu7tind 3 peret.6ter.Bde — Jan. and July 96 99
Reckeinable. Dividends. Prima
Illinois Internal Imp.6p.Ct. J.o. sad Js y 74 73
DIN Interest
Virginia 6 per Ctn. Inse. St 1837-1679 Jan. end July 93 N
Virginia a per Cent. Roods 1886 Jan. and July 96 99
Kentucky 6 per Cent. 1668 Jan. and July 97 98
Tennewes 6 per Cent. len Jan. and July 93 96
Quads 6 per Ct. Bt. Bonds 1971 Feb. and Aug. Ilb 113 f
Lino ditto 1876 Jan. and July lIS Ile
Boston City 4. per Cent
Sterllng Bonds
Nantreal City 6 per Cents. so-nes 86 87
New Tort Cltyn per MFR. 1833.1870 Quarterly 96 97
Pennsylvania Centel Rail.
Rd. 6 per Costa
Renew 1860 Jan. and July 99 100
Lll.Phibipltia end
SA 'per Ct. Nat-
i INN Bonds 1660 Jan. and July 86 87
New York and Brie Seven
per Cents., let mortgage 1868-1869 May and Nov. 1044 1076
Ditto oven per sent, lad
mortgage 1839 Mat. and Sept. 98 90
Ditto Seven perCents.,Cco-
Nrtible
Ohio &Perim:N.7 pm Ct
Income Bonds- — April and Oct. 92 94
geaboerd k ENNA/ 7 _ - . _

par CI. lot Mortgage ... 11166 Feb. sad Aug. II —ex div
The quotations of stocks at Amsterdam on Wednes-
day are thus reported by Mr. Renter'. telegraphic
express:—Dutch Four per Cents., 95; ditto, Two-
and-a-Half per Cents., 66; Spanish Deferred Three
per Cents., 22 1546 ; Mexican New, 241 ; Portu-
guese New, 371; Austrian Five per Ccnt. Me-
tallies, 821. All these prices are lower.
The traffic returns for the last week on the under-
mentioned English lines of railway, as made up to
this day, are as follows :
1853. 1852. 1861.
London and NorthWestem L 44,127 £39,203 .. £38,951
Lancashire and Yorkshire 16,568 .. 16,315 13,650
London and South Western 9,634 .. 8.468 .. 8,251
London and Brighton
Great Western
d Midlan
22,191 19,910 .. 19,686

South Eastern
13,751 .. 10,732 .. 10,285
York and North Midland
York, Newcastle, & Berwick 13,362 .. 12,748 .. 12,872
Shrewsbury and Chester 1,656 .. 1,462 .. 1,624
Great Northern 12,507 .. 9,744 .. 6,893
Chester and 11,1yhead
Shropshire Union 648 .. 476 .. 363
Exeter and Crediton
Bristol and Exeter
Manchester & Sontlaunction 629 .. 464 ~ 395
Bast Lancashire 4,617 .. 4,124 .. 3,632
Eastern Counties and Norfolk 14,619 .. 13,537 .. 12,736
East Anglian 670 ~ 894 .. 546
Leeds Northern 1,039 .. 961 .. 781

46,689

THIS DAY.—Two o'CLocx.
The stock markets opened this morning with some
flatness, but generally the feeling has truce im-
proved, and prices are now quoted at a partial rally
from the depression of yesterday. Consols opened
99 to k for money, and after reaching 991, are now
quoted 991 to 1 for cash, and 99 to 1, for time. The
Three per Cents. Rtduced mark 991 to 100 ; the
Three-and-a-Quarter per Cents., 103 to ; Bank
Stock, 225 to 2261 ; India Stock, 273. Exchequer
Bills are lower, with transactions at 58a. and 575.
preen.
Business is very limited in the foreign market,
there being an indisposition to operate extensively.
Spanish Old Threes mark 481 to / ; ditto Deferred,
221; Turkish Scrip, 1 die. ; Swedish Loan, 11 to 2
dia.; Sardinian, 92 ; Mexican, 23 ; Granada De-
ferred, 11 ; Danish Fives, 107 to 108 ; Russian
Fives, 119.