The Express.
London, England, 1853-09-29 00:00:00

MONEY MARKET.

WEUNZSDAY EVIININO.
The English stock market opened flat in appear-
ance, and sales were soon Effected at the extreme
point of the late depression, but here a remarkable
reaction set in. Rumours prevailing of large ar
vitals of gold from Australia, and a less alarming
interpretation being put upon the movement of the
British and French fleets, the " bears" came in freely
as buyers, thus strengthening the natural tendency
of the market to rally after so severe a depression
tad prices ran rapidly up to the extent of 11 to 2 per
cent. from the lowest point, the recovery being fairly
maintained to the official close. Alter the
regular hours, the feeling was leas strong,
but the final prices still show a rally
of 1 to 1; per cent. from the during quota-
tions of yesterday. During the week it is certain
that the sales on banking account have been heavy,
and have materially contributed to the fall in prices,
followed as they have been by extensive speculative
operations for lower prices. It is equally clear,
however, that the public in the mean time have been
steady, though mode rate buyers of stock. Money
ruled at 3; to 4 per cent. in the house to-day, but
stock was more iu demand for delivery. The con-
dition of the Paris bourse of to-day was anxiously
enquired after, but it seems now to be generally
recognised thati the receipt of regular telegraphic
reports from that bourse cannot at present
be relied on, controlled as this medium
of communication is by the French govern-
ment. Late in the afternoon it transpired that
the bourse, after showing marked heaviness,
had closed at a further fall of per cent, making 1
per cent. in two days. The fall in Console, therefore,
must not be regarded as a symptom of general com-
mercial alarm, but rather as a natural sequence of
the change that has come over the money market;
resulting mainly from the late extraordinary activity
of trade and the deficiency in the harvest. How far
these considerations, combined with political anxie-
ties, may yet affect the market, remains to be seen.
Consols were first quoted 91; to 1 for account,
were sold as low as 901, and thence rose rapidly to
924, " buyers." This extreme quotation, however,
was maintained only for a moment, the closing offi-
cial value being 921 to 4, both for money and the
13th October, and tire latest non-official quotation
92 to 1 for time. The fluctuation, it will be seen,
has again been severe, and the transactions have
been upon an important scale. The final quotation
did not seem strong. The official business list em•
braces :—Three per Cent. Consols, for money, 911,
901, 911, 91, 911, 921; ditto for account, 13th Octo-
ber, 911, 901 sit, 921,914, 921. Bank stock, for
account, 218. India Stock, for account, 2401.
Exchequer Bills remain mach depressed. The
closing price was 17s. to 125., or, in some cases, 18s.
to 14s. die. India Bonds left off 10s. to 4s. dis.
In the foreign stock market business was more
active, and, although sales could only be effected at
a reduction in the morning, the tendency in the
afternoon was better. Peruvian Actives have im-
proved, on purchases; and Spanish Deferred rallied
per cent. Mexican receded to 221 to 23, but
rallied iu the afternoon, on some inquiries. At four
o'clock Mexican Bonds were quoted 231 to 1; Spanish
Deferred, 21; to 1; the Committee's Certificates,
51 to 51 per cent. Peruvian Four-and-a-Half per
Cents., 70 to 72. Granada Deferred, 81 to 1; ditto
Active, 20 to 21. Peruvian Deferred, 49 to 51.
Sales are thus recorded:—Brazilian Four-and-a-Half
per Cents., 1832, 93, 94. Buenos Ayres Six per
Cents., 5860. Chilian Six per Cents., 102. Danish
Five per Cents., 100. Dutch Two-and-a-Half per
Cents., 62, ; ditto Four per Cent. Certificates, 951.
French Four-and-a-Half per Cent. Rentes, 99f. 50c.
(exchange, 25L 15c.). Granada Deferred Bonds,
81, 8. Mexican Three per Cents., 23, 221; ditto
for account, 14th Oct., 221, 231. Peruvian Four-
and-a-Half per Cents , 691, 69, 70, 691, 681, 71.
Portuguese Five per Cents., 1841, 45; ditto Four
per Cents., 411, 1. Russian Five per Cents., 111, 1;
ditto Four-and-a-Half per Cents., 951, 95, 961.
Spanish Old Three per Cents., 441, ; ; ditto New
Deferred Three per Cents., 21, 211.
Generally there seems to have been a good demand
for money out of doors to-day, at about former rates.
On first-rate securities, however, money would ap-
pear to have been rather easier.
Farther arrivals of Australian gold were an-
nounced to-day. The Marlborough has arrived
from Port Phillip, which port she left in July, with
the large quantity of 75,000 ounces. The amount
i brought n by the Typhoon, which arrived yester-
day, s 7,373 ounces. With the imports previously
reported, the total receipts this week amount to
630,000/. The Essex, which left Melbourne on the
2nd July, has also arrived, and is believed to have a
considerable quantity of gold on board. The exact
quantity is not ascertained, but she is known to have
20,000 ounces on freight.
The Atlantic brings over no specie from New
York.

The General Screw Steam Shipping Company's
steamer Harbinger is fixed to leave Southampton,
for Port Phillip and Sydney, on the sth October.
Notice is issued of the periodical operation of the
sinking fund, as affecting the various foreign loans of

The pirress of the arrangements for the " carry-
ing over" in the railway market to-day developed
some interesting facts. It appears that the numerous
investments of the public in small amount., during 'I
the late fall, have led to a rather marked scarcity of I
stock, the heavier descriptions, especially, being in
scanty supply. The effect produced on prices by
the late sales of pawned stock has been chiefly]
aggravated by the considerable "bear" operations,
which, on the other hand, have been met by a
greater bona fide demand than had been anticipated.
London and North Western stock was carried over in
the morning at a " continuation " but subsequently
commanded as much as ,1" baCkwarclation." Mid-
land, Great Western, and Lancashire and Yorkshire
stocks have all commanded a " backwardation „ since
the morning. In the lighter stocks there was less
scarcity Annexed is our usual statement of the
terms on which the settling has been generally con-
ducted, viz.:

London and North Western Ito f backwardation.
Midland
Leeds to ditto.
Great Western to ditto.
York and North Midland -32 to 3-32 continuation
Dover.
Great Northern, lenders to 1-32 ditto.
Caledonians
wardation.
London and South Western lenders to i continuation.
Berwick. -32 to 3 32 ditto.
North British
... . _ _

(Word and Worceaters.... 1-32 to 3-32 —WO:
On lerench shares very high rates of "backwarda-
tion" have been paid; on Strasbourg. as much as
a to 1 per share; on Paris and Lyons, to j ; and
on Northern. I to I. The speculation for a fall is
still obstinately carried on in this market, owing to
the sr' ificial position of the Paris hoarse, and the
impresbion that that market cannot long maintain its'
present level. Meanwhile, however, the settling
proves extremely difficult for the " bears."
Miscellaneous shares were generally better this
afternoon. Australian Agricultural closed 30 to 32 ;
Peel River, j to 1 discount ; and South Australian
Land, 31 to 33. Bank shares were firmer. Austra-
lasia, Union of Australia, and Oriental rose 11., but
London and Westminster were 11. lower. Crystal
Palace shares closed 11 to 11 prem.
The sum of 15s. per share falls payable to the
proprietors of the British American Land Company
on the 10th of October.
A second instalmmt of 2/. falls due on the
121. 10% shares of the Worcester and Hereford Rail-
way Company on the 22nd October, making 31. ss.
called up.
In Mark-lane to-day the supply of home-grown
corn was small, and that from abroad moderate.

Holders asked an advance of is. to 28. per qr. for
vrhcat over Mondiy's rates, but not much business
was done, and the market was rather firm than
brisk. In floating cargoes some transactions were
reported, including a cargo of Enyptian, said at
11s. 9d.; another, it was said, at 505., with
freight and insurance; Taganrog Ghoika, 625.;
for Danube rye 11s. to 425. to tho continent was
asked, but no buyers could be found at that rate.
All the country markets held yesterday report a
brisk business, nt an advance for every description
of breadstuff's. At Liverposl the rise in wheat was
Bd. to 10d. per 701 b.; at Hull, 4s. to .ss. per qr.; at
Ipswich, is.• at Leeds, :is. to Gs.; at Lynn, Is, to
35.; end at Lewes, 48. to ss. The French markets
come reported generally higher. At Paris the mar-
ket was more quiet, but firm, it would appear,
huwt ver, that, at present price), speculators in corn
are watching the market more anxiously than
before.

Annexed are the latest reports from continental
bourses, as received by Mr. lteuter's express:--
Amsterdam, Tuesday, closing prices:—Duteli Four
per Cents., 931; ditto Two-and-a-Half per Cents.,
61 5-16 ; Spanish Del.:rred Three per Cents.,
21 5-16 ; the Coupons, ; Austrian Five per Cent.
Metallies, 7%; Granada Deferred, 81; Peruvian
New, 691; Mexican New, 222. Portuguese New,
37 ; Granada Active, 20:. Exchange on London,
11.60 short. These prices show a considerable fall
in Austrian Metallics, and an improvement in this
exchange on London. Paris : Closing prices this
day Three per Cent. ltentes, 74.70 ; ditto Four-
and-a-Half per Cents., 100.30 ; Bank Shares, 2,600.
' The Paris bourse, though not closing at the lowest
point of the day, yet shows a further fall of per
cent.

TIIIS DAY.—Two o'CLocx.
The English stock market to-day opened with a
much firmer appearance, and, buyers soon coming in
freely, a great rise was quickly established. The
market, however, was subsequently startled by
intelligence that the Bank of England Di-
rectors, at their weekly meeting to-day, have
raised their rate of discount to 3 per cent. The
immediate consequence was a fall of 1 per cent.
from the highest price, and the funds now wear a
very unsettled appearance. Consols opened 91Z to
to 92 for account, rose to 931, and have since
fallen to 92 to 1 for money and the 13th Oct. India
Stock marks 213; Exchequer Bills, 15s. to Ss. dis.;
India Bonds, 10s. to 3s. dia.

Foreign btocks are all heavy, but as yet not much
affected in price. Mexican is quoted 33 to
; and Spanish Deferred, 211- to 22. Danish Fives
mark 100; Equador Bonds, 4} ; Peruvian Active,
71 to 72 ; Portuguese Fours, 41! ; Russian Fives, 111
to 114;; ditto Four•and-a-Half per Cents., WI to
94 ; Dutch Fours, 96. At the present moment
prices are generally worse.