The Express.
London, England, 1850-01-11 00:00:00

MONEY MARKET.

TNORIIDAT EVENING.
A deal of business was transacted on the Stock
Exchange to-day, but the market was not quite so
firm, and towards the middle of the day the English
funds gave way 4, consequent upon large amounts
of stock being thrown upon the market ; these opera-
tions being concluded, the market again rallied, and
recovered to within lof the opening price. Consols
were first called 974 to ex dividend, both for
money sad the 16th inst., from which they fell to
971; they then rallied, and were done at 1, and last
at I,eloung at 074 to 4 ex dividend for the opening.
The Tares per Cent. Reduced marked 971,1,3, and
last 971. The New Three-and-a-Quarter per Cents.
fluctuated between 994 and 100, the Bret and last
operations being marked 091.
Less busieess was done to-day in the Foreign Secu-
rities. The principal dealings took place in Mexican
at a decline, the last price being 291. Danish Bonds
marked 101 ; and Dutch Two-and-a-Half per Cents.,
56; Exchange, 126. The business reported icciudes :
Brazilian New Bonds at 87. Buenos Ayres at 49.
Danish Three per Cents., 1825, at 73 ; ditto Five per
Cents. at 101. Equator at 31. Grenada at 161;
ditto Deferred at al. Mexican at 291 for money,
and 201 to 291 for account. Peruvian Four per
Cents., 1649, at 63; ditto Deferred at 21. Perth-
guese Four per Cents, at 37 ; ditto Small at 37$
Five per Cent. Spanish Actives at 194 for money
and 19/ and 1 for account; tho Three pi. Cents., at
371 and 4. Venezuela Deferred at 10. Belvian
Four-and-a-Halt per Cents. at 894. Two-and-a-Halt
per Cent. notch at 55:i. 1, and 56 for money, and
554 for account; the Four per Cent. Certificates at
86 and 861.
There is, we perceive, much dissati4sction ex-
pressed by the merchants and manufeeturers of Glas-
gow and the neighbourhood at the recent at tempton the
part of adir g Edinburgh banks, having breech( s
in Glasgow, to introdue3 a different system from that
which previously obtained of caleulooug interest on
current accounts. The. alleged lnjesiice complained
of consists in allowing interest only on the lowest
sum at the credit of the merchant during the
month, and not on the daily balance ; for
instance, should he on the let January have
only 1004 at his credit, but on the day following th-
erms his balance to 5,0001., and so leave it until the
27th February following, a on that day again re-
duce his balance to 1004, the merchant would only
receive interest on 10J/. for the months of January
and February. The same system we find obtains
with most of the Joint Stock BEIIILIS In this City, with
this difference only, that if the balance is at any time
reduced below a given point, my 2004, no
interest whatever is allowed for the month
or months wherein the balaece stands even for
one day only below the given minimum,
and if it be represented to the manager that for 27
days out of the month the account has stood with
10,0001. on the credit side, he will reti.y, that it has
been there for the parties' cauvenience, and Lott's/
the Banes', and consequently no interest can he
allowed. Of ti-is alteration from the ()Id system,
which now very generally obtains with the Loudon
joint stock bunks, due notice was given to their con-
stituents, and taerelbre no party who had the op-
tion afforded him to close his account and
transfer it elsewhere, has, we conceive, any
right to complain, since no deception has
been practised. It, on the other band, the four Scotch
banks alluded to endeavour to give to this new sy s-
tem a retrospective effect, weilet tney professed to
allow daily interest, then there can be no doubt that
a palpable injustice is attempted which may fairly be
complained of and resisted; but, otter due notice has
been given to their customers, no party has any right
to complain, inasmuch as he cannot of himself pre-
scribe to any establishment the terms upon which
they shall do business. Tbis experimental innovation,
as It is termed, appears nevertheless to be exceedingly
distasteful to the trading community of Glasgow, and
is adverted to in the Mercantile 41therliser in the fol-
lowing terms :
We will be very much surprised if our local bank. follow
the example of the chartered companies on this occasion.
So lay as we can learn, the busking companies in Glasgow
do not intend to adopt this novel and distasteful mode of
doing business. The Giaagme Herald of yesterday 'aye,
We believe it will not be tollowed by ony ither bank in
Scotland." It is our belief that the banks referred to will
either lose, in course of time, their hest accounts, or they
will be übdged to rescind the ill-digested resolutions so rashly
adopted. We can assure them tnat their whims is very
ill-received by the whole trading community, who can
well understand that a lower rate of interest may
be looked for when money bee become plentiful,
but who cannot understand why they should not be paid
upon all their deposits the rate of interest professed to be
given. We have one other remark to make, and that is,
that the ball par cent. additional interest now given upon de-
posit receipts by casual operators was introduced at a time
when money was very scarce and dear. We well remember,
when money was plentiful in former year', many of our
banks refused large sums from strangers at the ordinary rate
of interest instead of holding out a bonus to them, whilst
they ri adily allowed the usual interest to those who regu-
larly kept an account current with them, and we have no
doubt that all the banks whose need ()dices are in Glasgow
will continua to do so.

The English compiny which has already expended
28 million francs in the construction of the railway
between Namur and Liege has applied to the govern-
ment for a loan of 1,800,000 f. to complete the com-
mnilication of the left bank of the Menqi with tho
station at Guillemins.

A long-felt desideratum in commercial literature
has just been supplied by the publication of the first
volume of a most useful work, entitled " Tbe Annual
Commercial Register and General Record of Prices in
the year 1849," compiled by Mr. 1). Money Evans,
the talented author of the "Commercial Crisis of
1847-8," &c. Besides a complete record of the fluc-
tuations in the value of the English and foreign
securities, railway sharer, &c.; it contains a sum-
mary of the proceedings at all the railway
end mining companies' meetings, bank meetings,
&c.; an account of all the meetings held, and
arrangements and propositions made relative to the
foreign debts; a notice of the Board of Trade and
Bank of England Returns; a Bankruptcy Register,
with the dividends declared, &c. &c. Other import-
ant features of the work are a summary of the pro-
duce markets during the year, and an account of the
proceedings in parliament more directly affecting the
interests of trade. The intelligence is brought down
to the beginning of the new year. We have no doubt
this useful work will meet with extensive patron.
age amongst the mercantile community.

DUBLIN STOCKS.—Jaw. S.
3 per Cent. Console
31 per Cent. Stock ••••••••••• •so •••••••....... • • 196il i
Bank Stock 2OO
Your per Ct. liallastOltee Pob. (OM eneMity) Ids. ft. Id 94
National Insurance Dampeny
pelij geld 10
' Patriotic Insurance Company 1101. 71
Dublin aud Drogheda Hatt Thirds
S2illlaholl3 1114 D STOCKS .1111110 AD.
MADatn, JAN. 4.—Three per Cents.. 21 s. ..Four per
Cents.. 121 paper. FireCa per (boats., 131 . 31 Palm—
Bank 0181. Ferdinand, 114 i. Bank on
BaIIIAN. Jan. 11.—Voluntaz4n. 107. Derti:j;
Commercial Morino society's 103. Beek lbws% 941.
and shares tolerably arm, and a pod deal of Maim fter.

BERLIN, JAN. G.—The following is the state of the
Bank at the clo.a. 01 the year:
Aenva dollars.
DAM and ben ... ... ... ......—......... 20,031,000
Treasury and loan bib . -- 2,069,400
Bilkof chema .............»» ......
Lombardy In
State paper. and ether maim .7 13.310,69a
Pamirs.
Bank note. In circulation
Deposit espital
Lon imaisiks, 40
11•••••••••••• 4.437,71%)

wort.' Barley.) taw. 1 aye. I Ilsaaa.l Para.
Dee. I .. id 144 44,248 It: ela Ild 30. 2d
8 . . , 94 44.27 a 31 !64 0.23. 5428. 4 . 3414 Id
13 ... 3N Idle. 9d 164 Od 212 63 Mt 141 214 lid
22 ... 34. 9d 23. 92 134 9.1 220 94 27a 5. 28,4 lid
29 394 44 21. as 134 64 24a Od 28. INI 294 Od
Jae. 5 . I+o4 0423. 11.1,11 a 1"494. 1142 a i1d284 341
; week. te--. 39. 3d 21147-1-4:164 Od 234 81 27. 64249.4 3d
torn, —Whe4t, s.serf. 0551. Ave. 55211.. 1155 Pei% la

like.
~.lke. I. Dec. & Dec.l3. Dec. 22.
1 ....
...
40 0
.9 !.. ..., I ... ... ... rl
39 4
...
71:
.
...
r,-1
34 9 •..
SS 9, .. 7. 1......1.,.• 1 ..7.

Die. 29.

; Jan. 3.