18 MARCH 1843, Page 9



The most important occurrence of the week has been the meeting of the Sank Proprietary, which took place yesterday ; when many of the Stock- holders, who went prepared to hear of a reduction of the amount of dividend, were agreably surprised that the old rate of 3i per cent has been maintained. and seems likely to be continued for some time. It would appear that the Di- rectors are indebted to a fortunate discovery for the means of thus maintaining the amount ot their dividends. Since the establishment of a paper currency,:it las always been their custom to consider the whole amount of bank-notes issued as a liability of the Corporation; but, as it is evident that many must be lost, they have lately determined to transfer to the rest or balance, a sum between :=03,000/. and 400,0001., which has been hitherto held liable to the claims of the

holders of bank-notes long since issued, and supposed to be destroy ed or lost, if any such holders should ever appear. Means have thus been provided to con- tinue for tome time the rate of dividend now paid, viz. 7 per cent per annum, to the no small satienction of the great body of the Proprie-

tors and the astonishment of a large number of them. The Bank Directors are fortunate in discoveries: in 1825, they discovered an uncancelled box of IL notes which was of the greatest service to them. The conduct of the Governor at the meeting yesterday ; gave very great satisfaction, the explanations offered upon the part of the Directors were very full and ample ;

and there appears to be a much better spirit presiding in the Councils of the

Bank than has for some time regulated their affairs. The only cause of regret was the large amount of loss occasioned by the commercial crisis of l8367- 135,000!. ; but the Proprietors seem to have taken a very good common sense -view of the subject. thinking that if the assistance in question had not then been

rendered to the American mercantile houses, the loss to the Bank by the univer- sal panic their fall would have occasioned, would in all probability have been infinitely greater. The consequence of this budget of good news has

been a rise of about 8 per cent in the value of Bank Stock, which has risen from 178 to 186. The Government Securities have shown symptoms of weakness, and have declined about if per cent from the highest quotations : there are, however, no political causes for the fall, which may be taken to be the natural result of a reaction of the market after so great a rise. The New Three-and-a-half per Cents are nearly immoveable : there are not any reports afloat as to the intended reduction of this Stock. Exchequer Bills have given way to 70s. premium, and close at 70s. to 2s. premium. The new issue of Bills, bearing interest at 13d. per diem, will make their appearance tomorrow; they DONT bear the MOE price in the market as the old ones, carrying an in- terest of 2d. India Bonds are 76s. to 78s.; but these securities are so scarce that it is impossible to buy them. A broker tried in vain yesterday to pur- chase to the extent of 2,000/., but was unable to do so ; and another today could not even obtain 200/. at any price, there being literally none in the market.

Great satisfaction has been expressed at the convention recently concluded between our own and the French Government for the mutual delivery to jus- tice of certain criminals of either country nho shall seek an asylum in the ter- ritory of the other. A stop will thus be put to the commission of frauds, and great security given to the honest trader. In the Foreign Market, the attention of almost all the speculators has been absorbed in Spanish Stock ; which continues to improve, and closes this after- noon within per cent of its highest quotations ; the Three per Cents, which were at 34, being last quoted at 34 I, while the last price of the Active was 22a 4. The principal feature today has been the rise of Passive Steck, which front rose to 5i, and closes at 51 6. 'Every day's intelligence from Spain seems to confirm the reported stability of the Government of ESPARTERO ; and under such circumstances, it appears to be taken for granted that the long-talked-of commercial treaty will be concluded, the prospect of which has set all the speculators on the qui rice. The delay in the advertisement of the Mex- ican Dividendlhas destroyed the little expectation of its payment that previously existed : the Stock however continues steady, and after fluctuating between 30 and 31, closes this afternoon at 30-/ 4. The Columbian, which had fallen to C, has risen again and is today at 27 ; and all the other Nondividend Stocks are in demand in consequence of the rise in Spanish. The Brazilian have advanced 1 per cent. The Dutch Two- and-a-half per Cent has given way again to 54, while the contemplated reduction of the Five per Cents has pro- duced a decline of 1 per cent in them. Brazilian and the better class of Foreign Stock are all advancing steadily under the operation of continued investments, and must do so while money continues so abundant. There is no very material change in Railway Shares: but we may remark, that after a week of great activity, the prices of the more important descrip- tions are quoted lower, and those of the more speculative kind generally at an advance. A failure has occurred in the Stock Exchange today of a broker, who had hitherto borne a very respectable character, but who, being employed in August last to purchase 3,000L stock, embezzled the money and forwarded a forged Stock-receipt to his employer. On application for the dividend, the band was discovered.: the broker absconded, and has in consequence been de- clared a defaulter.


The English Funds are without material variation. fichequer/Bills are heavy, both those at 2d. and 14d. per day having been done at 68s., and being now quoted at 68s. to 70s. premium ; Bank Stock the same, viz. 185. In the Foreign Market, Spanish Stock has declined 1 per cent ; the Three per Cents having fallen from 324 to 32, and the Five per Cents from 234 to 23*. This decline is not referable to any political cause, lost appears solely occasioned by the anxiety of speculators to take advantage of the late rise to realize. The wther Foreign Funds are the same. The tralisactions in the Share Market have not been extensive, and we can only notice the following. Mines-Del Monte, Unregistered, 6*; United Mexican, 24. Railways-Eastern Counties, 12; Ditto Debentures, 11 ; Edin- burgh and Glasgow, 50 494 ; Great Western, 96i ; Blackwell, 6; South- western, 65/ ; Manchester and Leeds, Quarter Shares,5-1; South-eastern and Dover, Scrip, 25i.


In the English Market, Consols have been 96a (sellers), but leave off 96* 4 ; New Three-and-a-half per Cents, 102/ a ; Exchequer Bills, 68 to 70; India Bonds, 79.

In the Foreign Market, Spanish Stock has been depressed-the Five per Cents to 231, and the Three per Cents to 311, but leave off at improved quotations, viz. Three per Cents, 34, Fives, 23a a. Mexican Stock has declined to 30 i ; great fears being entertained that the dividend due April 1st will not be paid punctually. Brazilian, 80 to 81. Belgian, 104t 56. Colom- bian, 261 4. Portuguese, 40 to 1. Dutch Two-and-a-half per Cents, 56* 1; Fives, 101; 21. In Railway Shares, business has been transacted at the following quota- tions: Bristol and Exeter, 60 to 1 ; Eastern Counties, 91 ; Ditto, New, 111,; Edinburgh and Glasgow, 50; Great Western, 96; Ditto, Half Shares, 70a; Ditto, Fifths, 18 to i; London and Brighton, 35k; London and Birmingham, 211; Ditto, Thirds, 661; Ditto, New, 37; South-western, 651 ; Croydon, ill; Manchester and Leeds, Quarter Shares, 5/ ; Paris and Rouen, 26*; South-eastern and Dover, 251; Ditto, Scrip, 2511; York and North Midland, 98. London and Westminster Bank, 23; Provincial Bank of Ireland, 42i; Canada Shares, 401.

3 per Cent Consols

General Steam Navigation 961 4

Company, 271.

Chilian Deferred 304 14 Ditto for account

36: i Colombian 6 per Cents. 1824. 261 f 3 per Cent Reduced ...... .... shut Dan sh 3 per Cents

86 7 lie? Cent Ditto

34 p

shut Dutch 24 per Ceuta 664 4.

New 34 per Cents

1024 1

DUMB per Cents

1014 24 Thak Stock for Account

shut Mexican 5 per Cents Cousd .

30 *

lifichequar Bills

poem 6810

Portuguese New 5p. elli.13011

40 4 I ndia Stock

abut Russian A per Cents 114

Thariliau 5 per Cents

80 1 Spanish (Actice) 5 per Cents. 288$

Ideas Spec Cent, rhilian5 per Cents 1544 54

89 91

Ditto 3 per Cents I1542

38 *