The Express. — 1847-10-30 (London, England)

MONEY MARKET.  FIIDAY_ETZIIII3O.  The stock market has been the scene of much confusion to-day, to account for which plausible rumours I have not been wanting. The failure of more than one bank, and of some great commercial house unnamed, have been among the current gossip, but nothing has transpired of such a nature as to warrant the credibility of the statements. Two respectable trading firms in the west end of the town—shopkeepers—are understood, however, to have suspended payments, with the melancholy result in one of the cases, as said, of the suicide of one of the parties, who had retired some time since in easy or wealthy circumstances, having remained liable as • partner through default of gazetting the dissolution. Loose speculations were circulated about the extraordinary circumstances of financial and political peril which should have indeced the government to convoke parliament so early as the 18th proximo, although it was well known at the time of the last prorogation that the legislature was to be called together about the date to which adjourned. The state of Ireland was a cause fixed upon for this more early but expected summons for parliament, as arising from some unexplained but more alarming condition of affairs there. Again, the Bank returns for the week ending on Saturday last were said to present most unfavourable features—a report which, as will be seen hereafter, was substantially confirmed. Under the effect ostensibly of these concurrently discouraging circumstances, the funds underwent a continuous decline from the beginning to the close of business. Consols opened, lower by 4 per cent., at 811 money, and 811, for time, than yesterday. They left off, after various fluctuations, 801 to 11 money, and 811 to 1 for time. The facts referred to bad no real influence in provoking this depression of values. The state of credit and the condition of the country altogether in its commercial, monetary and social aspect, could alone have been the moving cause, viewed through the sombre medium of speculation interested in magnifying present evils for the purpose of profit, or more conscientiously in the desponding mood of fearing, and acting in fear of, the worst. Reduced Threes were 801 to 1. Threeand-a-Quarter per Cents., 811 to t. Exchequer Bills, 245. to 18s. discount. India Bonds, 38e. to 30s. discount. Bank Stock, 182 to 4. Long Annuities, 81 to Z. Beyond the few transactions connected with the settlement of account and pay day, foreign stocks were scarcely dealt in. Brazilian were called 76 to I 8. Mexican, lot to 16:. Dutch Two-and-a-Half ! per Cents., 53 to 1 • the Fours, 811 to 2. Russian, 103 to 5. Spanish 'Fives' 17 to 1; the Threes, 27 to 1. Portuguese, 191 to 211, Foreign exchange was rather lower to-day on some • of the chief drawing places, with, of course, less die: position to buy bills, and little money at market. On Amsterdam the rates negotiated were 12.9 to 10 ; on i Rotterdam, 12.10 to 1 ; on Antwerp, 26.20 to 30 ; on Hamburg, 14.1 to 2 ; on Frankfort, 1241 to 5 ; on I Paris, 26 to .10; on Vienna, 10.18 to 25 ; on Leg; horn, 31.50 to 70 ; on Naples, 381 to 9 ; on Madrid, , 461 to 1-211 at 3 months. On Lisboa, at 60 days, , 511 to 52. The private letters from Boston, by the Hibernia, mention that the potato crop was quite • failure in the state of Massachusetts. Statements to the_ same  effect substantially were current in respect of Maryland and other states. Assuming the facts to be correct, and with regard to Massachusetts they are derived from a highly respectable source, quite unconnected with commercial interests, the quantity of food disposable for exportation to Europe, and else- I where, would be materially diminished, and prices eventually rule higher in consequence. The rate of exchange at 8f forbids all hope of any gold coming over for some time to come, notwithstanding the fallacious assurances of large remittances advised by the Henry Clay last in. Private letters from Newcastle-on-Tyne this morn' ing confirm the statement under this head some days since, of the complete restoration of banking confidence and credit which hail followed from the almost unexampled promptitude with which the district bank had met the severe run upon it consequent on the embarrassments of the Union Bank. The event has served to re-establish public faith in the stability of the resources and capital of that bask, and the ability of itsmanagement, upon a firmer basis even than before. The stoppage of -Mr. P. Cniikshank, in the West India trade, was mentioned to-day on 'Change ; the amount of liabilities unknown. The Bank averages for the week ending the 23rd instant, give, as compared with the week preceding, the following results : Circulation Pace /21,665,445 Circulation active 20,318,113 Public depthits 4,166,394 Decrees. 750,189 Other deposit.  ftmetment... 10,899,707 Other emmit.W. Coin and &Slim 8,312.051 Seven day med other MW 517,013 The rest 3,314,433 The reserve of notes in the banking department— the real capital for discount and business operations —was reduced to 1,547,2701., against 2,630,1151. the week before. The reserve of coin and bake was only 447246/. besides. This is altogether a bad account of the Bank's affairs for the week in question. That confidence in the solvency of the bank of Brodie and Co., of Salisbury—the stoppage of which we anaesdm yestarday—exists in some quartos% tirjabe seen from a handbill exhibited in the town Havrni Palest molders In Ike stability et the bank of Yawn. Emelt end IWO, aster SW WAY and Dona lkohJeg Clumgmly, die sobs albs* Wolin are reedmillmo la die gape( bmieses le soy emessig..—lelkfamy, Oct 21, 1141. Fresh calamities have occurred—to houses, however, of minor importance—at Manchester. Oar correspondent, dating this day, says : I regret to state that we have mere failures reported in this neighbourhood, the most important being that of Messrs. Rogeu and Co., spinners, Blackburn whose liabilities are stated at 70,0001. The next in importance, perhaps, is the stoppage of Meseta. Swaim's and Birchwood, spinners and curates:Carers, whose liabilities have not been mentioned publicly, but who will have meets amply to cover them Mr. John Barton, in the silk trade ; Mr. W. Hartwright, an agent; and Mr. Inglish, manufacturer, have also stopped, but the amount of their engagements has not transpired. With reference to the affairs of Mr. Robt. Gardner, it has been announced on good authority that his debts are about 100,0001, whilst his property is estimated at about 300,0001., Of late years his large business has been chiefly confined to mercantile operations, but he possessed a good spinning and Maw:datum( concern at Preston .