The Express.
London, England, 1851-09-19 00:00:00

1111 I 111
111 II

2020
10
20

MONEY MARKET.

THIS DAY.
Two o'Ctucc.
The English stock market to-day is again cha-
racterised by an entire absence of anything like
active movement, no speculative disposition
being evinced, and the business being of a
perfectly routine character. On the whole, how-
ever, rather more firmness is shown, and prices are
now quoted at an advance of y. The gradual
absorption of the stock in the market by the steady
operations of the National Debt Commissioners
must be regarded as one of the chief considerations
to which the market is indebted for its steadiness.

Consols opened this morning at an improvement
on yesterday's rates, being quoted 96 to 1 for cash,
and 961 for the account. The government purchases
were effected at 961, and the quotation is now steady,
at the first rates of the morning, though a reduction
of 1 was at one time submitted to. 't he official bu-
siness report includes only : 'Three per Cent. Consols,
96, „, 951, 96 ; ditto for account, 96, 1.
The unfunded securities remain quiet, at former
prices. Exchequer Bills rule at 41s. to 478. prem.
India Bonds, under 1,0001., mark 48s. prem.
In the foreign stock market similar quietude is
observable, and the change in prices trifling. Yes-
terday afternoon Mexican Bonds were unfavourably
affected by the publication of the correspondence be-
tween the committee and Colonel Facto (as given
below) and the considerations arising out of it,
and the price went down to 254. To-day the market
is only a shade steadier, with business marked at
26 and 261. Sardinian Scrip remains heavy, and
Peruvian Actives are rather weaker. A few sales of
Spanish Threes were offered to-day, this being a stock
which does not follow the fluctuations of the other
classes of the Spanish debt dealt in in this market. The
uneasiness felt at the falling off in the revenue re-
turns, and the aspect of the Cuban question,
has doubtless induced realisation, in fear of
the market evincing still more unsteadiness.
To-day's business list is as follows :—Dutch
Two-and-a-llalf per Cents., 594 ; .Mexican, 261,
26; Peruvian Five per Cents., 18-19, for ac-
count, 30th Sept., 895; Russian Pour-and-a-Ralf per
Cents., 1011; Sardinian Five per Cents, 601; Spanish
Three per Cents., 36 , ; ditto for account, 361.
Subjoined are some documents which have been
handed to us by the committee of Mexican bond-
holders, and the effect of the details of which is the
further fall in the price of the bonds above re-
ferred to.

A correspondence has taken place between the Com-
mittee of Mexican Bondholders and Colonel F.scio, the
financial agent of the Mexican government, with the ob-
ject of obtaining the insertion of the following clauses in
the new bond, viz..
1. In whatever form remittances are made for the pay-
ment of the dividends, whether in specie, bills of exchange,
or otherwise, the expenses shall be to the account of the
Mexican Republic, and the dividends shall be paid in Mer-
ling money, without any deduction on any pretence what-
ever.
2. In the event of the bondholders not deeming it expe-
dient at any time to avail themselves of the option given
in the third article of the decree, to appoint agents
in Mexico to receive the money for the payment of the
dividends, then and in all such cases the funds shall be
remitted monthly by the mail packets to the financial agent
of the republic in London, and be there held for safe cus-
tody in the joint names of the said financial agent for the
time being and a trustee or trustees to be nominated by
the bondholders.
3. The redemption of the bonds to be made at the market
value, whilst the price does not exceed par, but when the
market value exceeds that rate, the redemption shall be
made from the uncancelled bonds by drawing lots, the
Mexican government not being bound to pay more than
cent. per cent. The numbers and amount of the bonds
cancelled to be published in the London Gazelle, and in the

morainic newspapers.
4. When the old five per cent. bonds shall have been re-
deemed by this conversion in conformity with the fourth
article at the decree, they shall be forthwith cancelled and
invalidated in the presence of the officially accredited repre-
madam of the republic, and the committee of bondholders
Ana have opportunities to inspect and ascertain the num-
bers and amounts of the bonds cancelled.
Moor l'ayno, the then accredit( d diplomatic agent of the
American government, saw no objection to Nos. 1,3, and
4, but thought that No. 2 ought to be referred to Mexico.
Col. Faciohas objected to the insertion of any of them, con-
sidering that No. 1 and No. 3 arc unnecessary, and that
No. 2 and No. 4 arc contrary to the decree of the 14th
October last, and urges that the bonds should be forthwith
printed, as he had received peremptory orders from his go-
vernment to that effect, and as delaying the printing of the
bonds might also occasion delay in the payment of the next
dividend, because in all probability no other dividend will be
allowed to be paid upon the old bonds.
The committee continuing to think the clauses necessary,
have in the strongest manner protested against the refusal
to insert them in the new bonds, and have instructed Mr.
Falconnet to endeavour to secure the conditions contained
in them by a separate agreement with the government in
Mexico, but in the meantime that there might be no plea
for delaying the payment of the dividend, the new bonds
are now being printed.
The publication of the Australian news, which was
given exclusively in the second edition of the Daily
News yesterday, has excited much interest. It confirms
fully the reports that have been already received,
and indeed occular evidence is now to be had, as a
piece of the gold was to-day handed round at the
Jerusalem Coffeehouse. The view generally enter-
tained of the Governor-General's proclamation is to
regard it as a simple declaration of the rights of
the crown, as, with the experience of California, it
appears quite ridiculous to levy royalties in the gold
districts. The payment of (*actors, police, and
military, at gold rates, would more than absorb the
royalties, even admitting the possibility of getting at
every digger in the mountain creeks of the Murray
and Morumbidgec. Besides steam communication
with Australia, merchants are beginning to canvass
the possibility of navigating the Murray by steam. It
is known that though on account of the steepness
of its banks, the Murray is not convenient for sail-
ing, row, or track boats, it has depth of water
enough for 300 miles, at any rate, for steam naviga-
tion. The time has long been looked forward to
when the Murray and the Itlortimbidgee, becoming
navigated by steam, will be the highway fur the
produce of New South Wales and of the Rocky
Mountains; and, indeed, the introduction of steam
would make Adelaide instead of Sydney the great 1
entrepot of the gold trade, and give South Australia
an equivalent for the possible interruption of her
copper mines.
It appears that the Austrian government have the
design of extending the electric telegraph in Italy
beyond their frontiers, as official advices from Mo-
dena state a convention has been framed between
the Imperial and ducal governments for working
any telegraphs which may be formed.
The traffic returns for the last week on the under-
mentioned English lines of railway, as made up to
this day, are as follows:
1801. 1850.
London and North Western EP,660 .... £46,705
Midland
Lancashire and Yorkshire 19,018 .... 16,923
London and South Western 18,301 .... 13,326
London and Brighton
Great Western
South Eastern
York and North Midland 9,489 .... 9,217
Exeter and Crediton
Bristol and Exeter
York, Newcastle, and Berwick 14,967 ....
Shrewsbury and Chester 1,798 ....
Shrewsbury and Birmingham 785 ....
Great Northern 11,907 ....
Shropshire Union
Leeds Northern 1,23G ...
North Staffordshire
Manchester, Buxton, Matlock,
and Midlands Junction
Chester and Ii lyhcad
Manchester, South Junction,
and Altrinehson 634 ...•
Bolton, Blackburn Clitheroc,
and West Yorkshire 913 ....
East Ae-'

lien
Crosby, and South-

4,961
13,708
1,780

6,650

439
1,269
6,273

239
3,981

Total L241,038 £200,130
The total receipts on the corresponding lines being
240,9201. this week, against 200,1801. in the cor-
responding week of last year, the increase is shown
to be 40,7401., or 20 per cent. The number of miles
open in 1851 was 3,7981, and in 1850, 3,684 i, being

an increase of 1141 miles, or 3 per cent. The aggre-
gate average return per mile per week was, in 1851,
63/. Bs. 4d., and in 1850, 54!. 6s. 7d., so that the
difference remains in favour of the present year to
the extent of 9/. le. Od. per mile per week. Thu
highest figures of the season of course are not main-
tamed, but the comparison with the corres-
ponding period of last year remains as favourable
as ever. The returns of the Loudon and North
Western, South Western, Great Western, Great
Northern, Brighton Lancashire and Yorkshire and
South Eastern must be pointed out as particularly
good. The attraction of the Exhibition in drawing
country visitors to London is shcwn by these returns
to be undiminished, though indeed this is sufficiently
proved by the aspect of the great building itself.
We may mention as one instance out of many that
the excursion train from Southampton on the Mon-
day embraced in these returns (the Bth inst.), brought
up no less than 3,000 persons. The mileage of the Great
Western is now the same as at the same date of last
year, and that of the Great Northern, and Lanca-
shire and Yorkshire is nearly so. Under these cir-
cumstances the Great Northern return figures very
well, though a good deal of extra traffic must have
been brought upon the line by particular occurrences
during the week, including her Majesty's progress
to the north, and Barnet great cattle fair. The Mid-
land return is improved by the Leicester races; the
London and North-Western by the Lichfield races,
and the Eastern Counties by the meeting at Yar-
mouth. The Bristol half-yearly cattle fair must
also hare affected the Bristol and Exeter.

The return per mile per week on the chief lines is
subjoined :
1&11. 1850.
London and North Western „£111.50 £9I.S)
Midland
Ltuteashire and Yorkshire 69.30 .... 62.87
London and South Western
Great Western
London and Brighton
South Eastern
York and North Midland
York, Newesstle, and Berwick 50.87 .... 46.78
Great Northern 49.36 .... 28.17
Chester and Holyhead
Bristol and Exeter
The returns on Scotch lines are as under :
1851. 18.50.
Aberdeen
Caledonian 9,.308 8,973
. .

Glasgow and South Western,. 4,ir.b3 3,416
Edinburgh and Glasgow 4,M6 4,362
The Irish returns are:

1861.
mater : L 975 ....
Belfast and County Down
Belfast and Ballymena
Dundalk and Enniskillen—
Waterford and Limerick
Great Southern and Western 4,76.5 ....
Midland Great Western ^,267 ....
Dublin and Kingstown 1,073 ....
Dublin and Drie_Theda
Dublin and Betfuat Junction
Londonderry and Enniskillen ICS ....
South Eastern l6l ....
ESGLL6II FUN DO.—Tn Is DLT.
Hank Stork, ',but Lou., Annu)ties,
3 per Ct. Rectum.). phut 11,11 a Steck, 2011
3 per 11. Cunro4s. 56) 16190 1t0nf1x.1,000f.,4%. 914. pin
3) per eL Consols, shut Eacucuucr 11t11..1.1.1.M.,4444754.
Culaute fur Acct., 416*

1840.
£024
21.6
586
124

4,882
1,301
1,044
486
133

TOR 1O;
44 per et. Belgian, 01 5
b per Ct. Urszillan, 661*
Do, Now, 67
0 pet et, Hamm Atm,. 613
6 per Ct. ClillittL 114
3 per Ct. Chilptet, i i 6
3 per CL bullets ST P
24 per CL Itutets
4 MT CL. DUkth, elf -f
etterolot 31
1 per Ct. Oreettekte 14 1S
liantalme S p

r FUNDS.
3 per ta. 3telleett, fd
6 per Ct. Peruvirtn, N 34 9O
Ditto Deferred. 42134
.5 per (t. Purtugties", 87 9
5 pitr Ct. It 111113
4f per Ct. 1t44 6t4., lulf 29
pur it. ,Ictiii‘ll. Active. :Of
3 per Ct. Svulith. 361 7
Da..ive, 5 9
ptr (t. Yuba:llo3.'2d 30
Defmrrt.ll. lU9 llf
r amt.. 4 .34 die.