The Express.
London, England, 1848-05-12 00:00:00

COMMERCIAL tr MARKETS.

MONEY MARKET & CITY INTELLIGENCE.
Two o' Clock. —The reaction in the funds, which
commenced yesterday, has continued this morning,
and we have Consols, which opened at 84 to down
to 83; to I for money, and 631 to t, for
time. We have, therefore, since yesterday morn-
ing a fall of one per cent., which, considering
that in reality there is no change in political
affairs that should affect particularly the value of
public securities either one way or the other, seems
almost unaccountable. An opinion prevails in some
quarters that the reaction is the natural result of
Consols having been oreviotuily "socketed" too
strongly by parties and capitalists interested in
stimulating higher prices and a msrket to sell upon,
and that, as usaal in such oases, the policy
having been strained too far, the specula-
tion has broken down, and prices are run-
ning into the opposite extreme. Reduced Threes
are 81; to 2,1. Three-and-a-Quarter per Cents.,
831 to Z. Exchequer Bills, 38e. to 42a. premium.
Bank Stock, 100 to 2.
Foreign stocks have followed the movement in Con-
sole, and are lower. We quote Dutch Two-and-a-Half
per Cents., 42 to 3. The Fonrs, 62 to 3. Mexican, 151
to 16. Peruvian, 38 to 40. Spanish Fives, 12 to
1; the Threes, 21 to 4. Passive, 21 to 31. Portuguese,
17 to 18. Russian, 84 to 8. Brazilian, 67 to 70. Bel-
gian Four-and-a-Half per Cents., 58 to 62.
The Leipsic Spring Fair, according to accounts in
the Hamburg papers, had opened under the most
unpromising appearanees. Scarcely any foreign
buyers bad arrived, nor, indeed, were many expected.
At Bueharest the merchants are said to have bound
themselves under a heavy pecuniary penalty not to
attend the far or lriy German manufactures. Accord-
ingly none had presented themselves at Leipzie.
Should this great fair be thus deserted, as stated
and feared, the result may be most lamentable for
the manufacturers, who had looked forward to it as
their chief hope, and more so for the operatives, who
may be thrown out •f work by th.lusimids, from the
impossibility of the masters keeping es their works
when no longer able to find a vent for their goods.
In Bavaria, as elsewhere, loans are the order of the
day, and ono had just been authorized by the legisla-
tion.
11116L1811 FUNDS.
Bank Stork, 133 2 3per Ct. Collator A.L. VII
3 per CL Rel. Anne., 816 2 31 per Cents.. 1431 I
3 per Ct. Cane. Anna.. 631 kachequer SAM. 345. 41a prem.
413/1.41.114 FUNDS.
6 per Ct. Al:Arian Bend?. 1 per Cent flrorads B. 1!•, 113
If per CL Bele Wilda, 18 61 Grenada Deferred 7 IS
21 per bent. ditto. 3u 6 Slor Ct liestcan, 1846,
per Cl.eruvian WI.. .I.*
VitgLNlOZir; &I'.
'7
70
P ;co Cue, DJ, 17
3 3 ''.er Due Rd 4 84
6 ttL`ctur,31,77.864'.. 23
Vide Siztnish 8d5..12
Date Columb. De/. lat.. 3 per CL. Spanish Ma, 31
ColtunhLan Igo: 844:2 I Newish Deferred ILK.-
3 par Cl. Danish li4a. 35 60 t. Ire Mtn., 213*
21 Per Ct. Dutch Ma., 42 3 2 per Ct. Venezuela Das , 18 22
4 torOt. Dutch Cert.. 623 V**IPZUJIS Deferred ltd•.. 7

- -
RAILWAYS.—Our market ie depressed this morn-
ing, and shares rather lower ; in consequence, how-
ever, only of the extraordinary reaction in Consols.
Eaatern Counties are called 142 to 15. Brightens,
33,1. North StaffJrds, 2! to I discount.
SALER EFFECTED UP TO TWO TUTS DAY IN LONDON.
1 Yesterday's prices will be found in last page.)
Amb , Not., & Boa., F.. Jn., 1 Lon. and S. Western, 481 9
Bucktn.hamabire, 31 d Do. New SOL At., 341
Caledonian, 321 1 1.40. Tenths (Consul.), 441
East Anglian, 251., L. &E. and Do. Third., 71
L.& D.,61 Man., Buz., a Matlock, 31 d
Esatern Counties, 151 141 Man., Sheff., & Lin.loLPref., 713
Do. No. 2, 1 d Midland, 107 51
Ella Lancashire, 19 Do. Sul. Con..Pref 101
East LinColuehire, 201 1 Do. Con. Brie and Binn. 0 per
Edinburgh & Glasgow, 47 Cent., 120
Greet Northern, 31 4 Norfolk, 70
Great Southern & Western (Ire- North British Delves, 101
land), 241 Do, Ore., 51
Great North of England, New 401. Do. Thirds It
ahem, 53 N. Staffordshire, 101 1
Great Western Halves, 511 Oxford, Woe., & Wolver., 231
Its. Fifths, 211 Itoyrton and Ilitchin, 11
Ito. New M., 61 Scottish Central, 28
Ipswich and Bury StEdround's,6l I Shrews. Cent.
& Chester 8 per
Do. do. and Norwich, 31 Pref., 101
Lancashire & Yorkshire, 75 6 S. E. end Dover, 251 41
Do. halves 391 wear Valley 6 per Ct. GUM', 27
Do. Fifths, 81 York, News., & Bee., 331
Do. 'Thirds Re.. 6 d Do. Orig. Nose. & 13er., 30/ 30
Do. P.& W. Thrives (A), 121 12 Do. Eaten. No. 1 (York and
Leeds and Bradford, 92 Newc.t, 18 171
Leech and Think, 23 Do. O. N. E. Par. or Pref., 91 1
London and Blackwell, 51 York sod North Mid., 70 2
Lon., Brighton, &S. Cowl, 731 3 Do. Pref., 131 14
Lon. & North-Western, 1341 8 Do. E. & W.B. Es., 321
Do. New On., 6 1- Boulogne and Amiens, 61
Do. Fifths,
~1 N. of France, 31
Do. DN. eh., M. &B. (B), 10 91 Sambre end Meuse, 41 8
YORK GALES, Mar 11.
Great Northern, 31 31. 11s. 3d. 1 York. Newcastle" and Barwick
N. British Thirds. 11 G.N.E. Par
• Do. Extend" Oa.