The Express.
London, England, 1853-03-12 00:00:00

131 lit
131 153

MONEY MARKET.

FRIDAY EVENING.
The improving tendency in the stock market, to
which we drew attention yesterday, acquired in-
creased strength to-day. The main feature of the
day was an advance in Console to above par for ac-
count, the market closing at the advance with a
strong appearance. The conclusion of the Cense!
settlement shows continued absorption of stock by
the public of late, against sales partly speculative and
partly real, induced by the higher value of money
out of doors. More confidence is now observable, the
advice, from Australia showing that a more steady
supply of gold may be expected from that quarter,
by which any renewed drain to the Con-
tinent will be met. The pressure for money
out of doors has abated during the last few
days, the effect of the late gold arrivals being now
more sensibly felt, as of course when a million
of gold is offered for purchase to the Bank, a mil-
lion of notes is taken from that department of the
institution. Oo the whole, there appears to be an
impression that the period of pressure has been
passed over, and that the tendencyof the money market
us now in the direction of greater ease, provided we
do not have any immoderate influx of foreign loan
or other projects drawing largely on the market.
There is uo idea, however, in view of the activity of'.
trade, and the number of new schemes, that capital-
ists will have any difficulty in keeping the rates of
money at their present level fur the pre-
sent. The falling off in the shipments of coin
to Australia, is another point that excites satisfac-
tion. In the railway market, we have the feature of
the absence of any rise corresponding with the up-
ward movement in the funds. l'riees are generally
well supported, but, so far, there appears to be an in-
disposition to "go for the rise." A few speculative
purchases were made in the morning for next ac-
count, but were quickly met by a supply, althoutth a
limited one, of real stock ; still the advance in Con-
sols gives strength to this market, and stock, though
better supplied, is not plentiful. The public aro ope-
rating very little just now in railway shares, the pre-
sent level of prices checking speculation, and the ten-
dencyof Itonofide operatious appearing toincline to sales
on any decided rise. Guaranteed stocks are more
offered, and first class debentures can be bought to
pay higher rates than were obtainable a few months
back. The Caledonian Railway report is issued,
and shows a dividend at the rate of 21 per cent, per
annum. The shares this evening were a trifle
flatter on its issue. The South Eastern dividend is

announced at Ile. for the half-year, with, it is re- I
ported, a surplus of 1,7001.
COTIROIB were very firm, and finally left off at 99„
to 100 for money, and 100 1-16 toy for the 13th of
April. The Three-and-a-Quarter per Cents experi-
enced& corresponding improvement, reaching 1033.
The official report includes : Tame per Cent Consols,
for money, 993, 100 ; ditto, for account, 99„, 100, 3.
Three per Cent. Reduced, shut, 1003, I. Three-sad-
a-Quarter per Cent., shut, 103 t, Z. Annuities of 30
years, 1860, 61. India Stock, fur account, 267.
The market for Exchequer-bills also maintains a
firmer appearance, especially for the new issue, which
now seems to have a better chance of floating at a
small premium, with the powerful support afforded,
and ready at hand. The March bills arc quoted 10s.
to 14s. prem., nod the June, Bs. to 12s. prem. ludia
Bonds were done at 435. prom.
Business in the foreign stock market was not cha-
racterised by any violent fluquation. Spanish Bonds
were rather flatter, the Deterred closing 21 to 1, and
the Certificates 73- to 1 per cent. Mexican Bonds
were just a shade worse, at 233 to 1. Turkish
Scrip, on the other hand, was better at 2 to 21 prem.
The Now Sardinian Three per Cent. loan, to ba is-
sued at 69, is quoted 13 to 2 prem. Greek Bonds
were not quite so good as yesterday. Generally the
European and other dividend paying. stocks are
firm. The list of the day's sales is annexed.
Brazilian Old Five per Cent., 1031 ; Ditto, Four-
andse-Half per Cents., 1832, 981. Buenos Ayres
Six per Cents., 61, 621, Dutch Two and-a-Half per
Cents., 66; ; ditto Four per Cent. Certificates, 991.
Ecuador Binds, 53. Granada One-and-a-Half per
Cents., ex Dec., 1819, coupon, 221. Greek B nids,
1824 and 1823, 83, 1. Mexican Three per Cents.,
251, 4. Peruvian Deferred Three per Cent. 613.
Portuguese Five per Cents. converted in 1841, 41.
Russian Five per Cents., 119, 1183, ex. div.; ditto,
Four-end-a-Halt per Cents., 1033. Sardinian Five
per Coats., 99, 981. Spanish Old Three per Cents.,
483; ditto Deferred Three per Ceuta., 244, 3.; ditto,
Passive (Converted), 31, ,i; the Committee's Certifi-
cates, 71, 74 per cent. Swedish loau, 14 die.
Turkish Six per Cent. Scrip, 1, 24, prem.
The Frances Henty has arrived at Plymouth from
Melbourne with 63,166 ounces of gold, worth
260,0001., and dates to the Ist Dec. The amount of
gola on board tlds vessel was incorrectly stated in
some of the telegraphic despatches received this
afterri.iou at 300,000 ounces. The Panama has also
arrived at Portsmouth from Hobart Town, which

port she left on the 4th Nor. The quantity of gold
on board this vessel is estimated at about 30,000 oz.

A company has been formed under the title of the
Royal Australian Mint Association, for the establish-
ment of a mint, with local branches, in Australia, for
assaying and stamping, or coining the gold produced
in that colony. The undertaking appears to be pro-
jected mainly on the readiness now shown by the
imperial government to sanction the establishment of
Australian mints. Mr. Wilson announced the other
evening in the House of Commons that" government
would he ready, free of all charge to the home go-
vernment, and with proper regelations fur securing
the purity and weight of the coin, to grant the esta-
blishment of mints wherever they were demanded."
We understand, however, that government do
not propose allowing the Australian mints to coin
sovereigns, but only local coils or tokens, a
restriction of which it is not easy to perceive the
wisdom. It may be very fairly asked, why should
not sovereigns be coined in Australia, under identi-
cal arrangements with those adopted at the Mist
Lore? The requirements et trade throughout that
great dependency of the British crown, and, indeed,
in many other parte of the southern hemisphere,
would thus be satisfied, and the drain upon our
home stock of coin, a drain which the London Mint
is notoriously unable to meta, would be dune away
with. Under the present system the colouists suffer
considerable loss, in the way of expenses and loss of
interest, so that there can he no doubt they will give
every encouragement to the establishment of mints;
indeed, they have already forwarded petitions in this
sense. The capital of the propostd association is
fixed at one million sterling, in 201. shares, but only
2s. per share is to be raised until the act of incor-
poratiln shall have been obtained.
With the exception of the Scottish Australian, the
shares r I the Australian banks were firmer to-day.
Australian Agricultutal were good, commanding 112
to 117, and South Australian Land Shares rose 2/.
The shares of the tw ) Scottish Land Companies also
realiscd rather improved prices. Vuu Diemen's Land
shares appear streugtheucd in character by yester-
day's meeting, though with little change iu the
prtee, which closed ltd to 20. Victoria Huck shares
(4'. paid). were done at 61 ; do. New (21. paid), :
Crystal Palate (al. paid), 6, ; General serCw
Steam Shipping (121. paid), ; Submarine Tele-
graph (1/. paid), 11. Ebro Canal shares are quoted
11 to 11 prem
The Bank of England return for the week end-
ing Saturday, the sth of March, is as follows:
BANK OF fr ttIIAND.--AccorNT far do week =lip,: 114 r. 5, 1053.
t-ew • Zr.,
Nots9 Mewl ......

!S7IIII,IIIIUrT.

Other .-ecialthes te114,006
OaFI Ooln }L• I DulLoa 18.A2,746
14104

et 34i OW)

£31.361.400

Imsaspo
riVTICICIOn 4.:43.1
%en_ • •,. • • .. • 3,617.7Y2
r4ile Dzn

PAST74IIIII.
r. urammt ~evartelce

1: t01;i.....1.1c1aia-Gi
03:mot, ~/ 3.aticaut
Dlbt.s low. Acct.) %%SILTS'
Ott.' 110, 03:u
devni-JaympiAllat livJ L1T4.416

Annuity, ...... 1:17.461,57,
Utherekr.sti...e4
......
0.x.1 aod hkint caw , 6.r.,412

.MC3,210
Kar ID. 113. L. fr T)
el MA/1611ALL. Chic! Cz

The above return, when compared with that for
the week preceding, exhibits the following results:
Circulation issue
Circulation active 22,27,870 Increase 286,826
Public deposits 7,312,751 Increase 250,622
Other deposits
Government securities in _

bankinc department..., 13,101,538 Decrease 24,315
Other securities iu banking
department
Coin iota bullion in both

departments
Seven day and *User bilis 1,373.446 Increase 22,632
The Rest
The Reserve

Tho changes shown in this return arc invested
with a good deal of interest. The large increase in
the stork of the precious metals is in accordance with
our anticipation, and is entirely owing to the influx
of Australian geld into the Batik, whilst at the same
time the demand for export experienced a sensible
abatement. The next and succeeding returns will
probably show a further increase in this item. The
Increase in the private securities is considerable, and
attests the activity of the demand fur money in the
week in question, which embraced the 4th of the
mouth. The increase in the reserve is satisfactory,
and mainly due to the influx of gold.
In the market for foreign exchanges to-day, short
bills on Paris were rather lower, being done as low
OS 23.021, whilst the three months' quotation on that
espital is the same as last post. On; Hamburg there
were bills over at 13.71, after being done up to 13.8,
with but few takers. Vienna and Trieste were some-
what lower, Vienna being &se at 11.2 to 3. The
rates on Amsterdam, Frankfort, Italy, and other
markets, show no variation worthy of notice.

THIS DAY.—Two o'CLocK.
Business in the English funds to-day has been ex-
tremely restricted, but the market, nevertheless, con-
tinues its upward movement, and Consols arc now
quoted 100 to I for money, and 100,;- to for April.
The 'fhrce-and-a-Quarter per Cents., which arc now
shut, have been done at No other stock hes
been touched. The June Enchequer Bills mark 14s.
prem. ; and the new March issue, Bs. to 12s. prem.
Foreign stocks are very firm, but in this depart-
ment also the bargains have been very few, and
prices are consequently scarcely changed. Granada
Deferred bonds mark 114; Mexican, to ; Peru-
vian Scrip. 5 to d; prem.; Sardinian, 08i ; Spanish
Old Threes, 48; ; ditto Passive,; 52 ; Swedish Scrip,
1; dis.