The Express.
London, England, 1851-07-18 00:00:00

RAILWAYS.
THIS DAY.

Two o'Csoco.
There is no improvement perceptible in the share
market to-day. Sales of several stocks continue un-
interruptedle, and the decrease in the Midland, York
' and North Midland, and otherreceipts, is eagerly seized
upon by the speculators for a fall, who seem to be "hav-
ing it all their own way." Selling operations, both
on account of public institutions and private indi-
viduals in the north, have for some time past
had much influence here, and the difficulties
which have beset many of the Liverpool men
through the failure of their speculations for a rise in
cotton are still producing their effect in bringing
large parcels of stock forward for realisation. Un-
supported by the
.publie, who uniformly hold back
in view of a filling market, prices are thus easily
influenced by the additional pressure of speculative
operations. So soon as the sales referred to shall
have 'ceased, the public will probably come forward,
and we shall have a marked reaction.

MISS AND StOCER UNGUaItANTZISD.

lake today op
I to I **dock.

MONEY MARKET.

THIS DAY.

Two o'CLort.
The opening of tho new account in Consols has
not led to any increase of movement in this
department. Indeed, notwithstanding the easy
terms on which money can be obtained,speculation in
the home funds seems at present quite at a dis-
count, though it has found a fresh opening in the
railway share market, where the operators for a
fall, aided by continued sales from the north,
are busily and succesfully engaged in making
a dead set at prices. A rally of 1 in the price
of Consols took place yesterday afternoon, but
it has not been maintained to-day, although the
government broker bought as usual, and the French
funds have for some days shown an upward ten-
Consols are quoted 961 to 1 for money and 96:: to
I for the 12th August. The official business list
comprises : Three per Cent. Consols, 961,1; ditto for
account, 961 ; Three per Cent. Reduced, 97Z, 1 ;
Three-and-a-Quarter per Cents., 981, ; Long An-
nuities, 1860, 7/; Bank Stock, 2154, 215.
Exchequer Bills are looking up again. All classes
mark 535.. 515., and 545. prem., with a good demand.
India Bonds, 1,0001„ 595. prem.
A quiet business continues to be transacted in the
foreign securities, and prices are little changed.
Mexican were flat yesterday, though no business was
officially marked in them; to-dav the price has been
done at 30 without the dividend. Spanish stocks are
not lower to-day, notwithstanding the unfavourable
tenor of Mr. Weisweiller'a letter (given below). A
spirit of resistance seems to have sprung up among
the bondholders, who appear disposed no longer
to agree to the splinting proposals of the
Madrid cabinet; but boldly- to take their stand upon
the question of right. To-day's actual prices are as
follows : Brazilian Old Five per Cent. small bonds,
sq. Dutch Two-and-a-Half per Cents., 591, ; ditto
Four per Cent. Certificates, 92,, 1. French Five
per Cents. Rentes, 57fr. 25e. ; exchange, 25fr.
Mexican Bonds, 30. ; ditto for the account
of the 31st of July, 314, 31. Peruvian Five
per Cents., 1849, 89. Portuguese Five per Cents.
87. Russian Five per Cents., 114; ditto Four-and-a-
Half per Cents., 101, 100 j. Sardinian Scrip, 1 dis.
Spanish Active Five per Cents., 21; ditto for Ac-
count, 211. 1.
The following correspondence has been forwarded
to us by the Spanish committee. We do not attach
much importance to it, as we do not place any great
faith in what the present Spanish ministry may do.
We sincerely hope the bondholders will take a high
tone, for there is a growing public feeling in Spain,
indeed a political necessity, for restoring the public
credit, while the resources of that country go on
vastly improving.
_ .

Madrid, July 11, MI.
My dear sir,—l have to acknowledge the receipt of your
esteemed favours of the 27th ult. and the 3rd instant, by
which you have been pleased to inform me of the resolu-
tions taken at the last meeting of the Spanish bondholders
in London. I feel muck obliged for the kind mention the
meeting made of me bygone proposal, and I sincerely regret
that my ellbrts, as well as those of the different parties con-
cerned; in the matter, have not been crowned with the
success the right and the moderation of the bondholders
deserve.

Immediately after receiving your communication, I called
on the Finance Minister in order to give him notice of the
resolutions adopted by the meeting, hoping that they might
exercise a favourable influence upon the intentions of the
government; but his Excellency has again expressed to me
his sincere regret of his being unable to improve the project
of law actually in discussion before the chamber, and has
referred me to the different speeches pronounced on the
occasion by the principal and leading members of
the political parties against the possibility of a
settlement even at the very moderate terms proposed by
the government, some of them having gone so far
as to say that not only the government ought not to recog-
nise the foreign creditors in their capacity of foreigners, as
they were merely holders of a stock for the bearer, with-
out any con.ideration fur their nationality, but they
blamed even the government fur having condescended to
allow any correspondence or conference with the com-
mittees and the delegates.
In fact, if you look over the interminable discussions at
the chamber you will become more and more convinced of
the unpopularity of the settlement of the debt in this coun-
try, where all moral means have been employed and ex-
hausted, not only by me and the other delegates, but also
by the highly respectable and efficacious medium of his
Excellency Lord !Bowden in favour of the bondholders.
Believe me to remain, my dear sir, your obedient servant,
Das lEL WEISWEILLEII.
The discussion of the totality of the project of law hail
at length been closed last evening at the chamber, and
to-day that of the articles has begun.
Tu James Cape!, Esq., chairman of the committee of
Spanish Bondholders, Loudon.
At the half-yearly meeting of the London Joint
Stock Bank, held yesterday, a dividend at the rate of
6 per cent. per annum was declared, leaving a sum of
9,3111. 15s. 7d. to credit of the nest half year. The
net profits of the Bank for the six months were
27,3111. 15s. 7d.
The colonial wool sales ;commenced last evening.
The attendance of buyers was very large and the
biddings spirited for the better description of wools.
Last sale's prices were fully maintained, but for low
bad-conditioned wools and lambs' the prices were in
favour of the buyers. The selling broker announced
that the quantity to be brought forward would not
exceed 60,000 bales, and that only ono more series
of public sales should take place this year.
1.10 traffic returns for the last week on the under-
mentioned English lines of railway, as made up to
yesterday, are as follows:

. -
1851. 1850.
London and North Western £63,463 .... £50,575
Midland
Lancashire and Yorkshire 17,398 .... 17,015
London and South Western 17,133 .... 13,325
London and Brighton
Great Western
South Eastern
York and North Midland
Manchester, Shetlield, and Ltn-
colushire 7,318 .... 6,360
Exeter and Creditors
Bristol and Exeter
Manchester, Buxton, Matlock,
and Midlands Junction
Shrewsbury and Chester l,BOB .... 1,518
Shrewsbury and Birmingham 660 .... 6.53
Eastern Counties and Norfolk 16,019 .... 16,825
Great Northern 13,216 .... 3,123
Shropshire Union 634 .... 463
Chester and Holyhead 3,860 .... 3,884
North Staffordshire
Leeds and Think 1,170 .... 1,373
Manchester, South Junction,
and riltrinchrun 553 .... 555

Total £241,384 £202,892
The total receipts upon the corresponding lines
being 241,2931. in 1851, and 202,8921. in 1850, the
increase is shown to be 38,401!., or 18; per cent.
The number of miles open was, in 1851, 3,8161, and
in 1850, 3,5491; showing an increase of 267 miles,
or 7; per cent. The average return per mile per
week was, in 1851, 63/. 4s. 4d., and in 1850,
all. 3s. 3d. The aggregate comparison is thus most
favourable. In particular lines, the Midland is the
only instance of serious falling off, and the circum-
stance that last year's receipts were swelled by the
Mansfield races account, in part, for the decrease.
The Eastern Counties return appears unfavourable,
owing to last year's return including Writtle and
Ipswich races. In both years the London and North-
Western traffic shows the influence of the Liverpool
race week; and the effect of the Exhibition is very
palpable, as it is also in the Great NVestern. On the
Tuesday embraced in these returns, an excursion
train brought up 1,500 passengers to the Exhibition
from Gloucester, Stroud, and Cheltenham. Tho
London and South-Western figures are likewise ex-
traordinarily good.
The return per mile per week on the chief lines is
subjoined :
1851. 1850.
London and North Western £122.45 £107.61
Midland
Lancashire and Yorkshire
London and South Western 70.14 .... 64.65
Great Western
London and Brighton
South Eastern
York and North Midland
Eastern Counties and Norfolk 49.74 .... 62.25
Great Northern 51.60 .... 21.83

PARIS, Imp 17. For 11 For Account.
j Money. OpeologllliirbeeL Lowest. Mang
3 per Cents S 6 $0 I 37 0 17 10 36 lIS Si 85
3 per Cents 93 0 93 20 93 33 13 0 93 0
3 per Cents. New Low ... 1 . . ... ... ...
Chita
1 per
41 per Cent. Bl 0 ...

41 par Cent. Bl 0 ..• •. ••
Eicianje on Ix outon : it sight, 2.5; .90 da4 n, 24.82/.
Wean, 5,1810
Do. 5, 18.2 — ktoto.n Lo.i, 1351 .. 731
Do. 41
Do. 21 . ..... 501 ... Treniury Binds
Piedmont p. ekillg. 84 30 ... Bink Aires

•.•
rAllta, JULY 17.—St. Germain, .110; Versaillog (right
bank), 263 75; do. (left bank), 235; Paris and Or ' 315 ; Paris
and Rouen, 647 SO; Rouen and liana,, 73; 31apoillex and itt,g.
non, 211 25; Strarbourg and &de, 153 30; Centre, 442130; lloulmme
and Auden. 273; Orissa and 130rdeaue, 39i 25; 3.,,rtbern. .170;
P3ri.ar.d Stnobourg, 37125; Tour.; and Nantes, 276 2 i ; kloatereatt
and Tmyes, 11S.

12.—Three per Cello., 36:: after Bolsn,
36 13.16 rash, 301 paper. Four per Cents., 1.-4. Five per
Centr., 171; after Bolas, 171 paper. Couporei, Rj : after
Bolva, Pauivev, 7 3-16 ; after 13olaa, 7 3.16 cash.
Bank of St. Ferdinand, 101 cash. Exchange on London,
60 90 aoh.

IJEttLiNr, JrLir 16.—Voluntary Loan, 1O6; ; New Loan,
Four-and-a-Half per Cents., 1031 ; National befit, 891; COM•
suer( ial Marine Society's Premium, 124; Bank Share., Wt.
VIENNA, JULY 16.—Five per Cent. Metalliques., oq ;
ditto lour-and-a-Half per Cent., Si; ; Dank Shares, 1212;
Exchange ou London, 11.36.