The Press.
London, England, 1856-12-27 00:00:00

1244

consequently fallen in price At the date of our last they
stood at a premium of 3a. to is. Now they are quoted at
Is. dis. to 2s. prem.
Railway Shares have been more sensitive to the political
rumours just referred to than Consols, while up to Wed-
nesday morning they were more depressed by the absence
of business. On Wednesday, however, they fully recovered,
and at the opening this morning they presented but little
change from the beat prices of list week. In the course
the day there was a rise of fully one per cent. in East
Lancashire and Great Northerns. in the former case it
was owing to reports of an amalgamation upon equal terms
with the Lancashire and Yorkshire; and in the tatter• to
the resolution of the directors to recognise the stock irre•
gularly issued by their late dishonest servants in all cases
where the purchases of it by the public had been bond
fide. The general market was rather buoyant, though
prices were not materially chat.ged.
In the Foreign Maiket the principal movement has
again been in the two classes of Turkish securities. They
have been depressed and they have recovered; and to-day
they both closed at the highest prices of the week.
Joint-stock Bank, Miscellaneous, and Mining Shares
have presented no features of importance. Business in all
of them has been very small.
The Great Northern Railway Company has been in
temporary collision with the committee of the Stock
Exchange upon their refusing to register certain transters
of stock signed by their own officers. The cases in which
the difficulty arose are some of those upon which Redpath
perpetrated his frauds. Substantially, they are similar to
those of Robson upon the Crystal Palace Company ; and,
etutalia muian di*, the description of one would apply to the
other. The indignation of the directors of the Great
Northern Railway Company may readily be conceived at
being called upon, even by innocent holders, to register
stock dishonestly issued ; but they alone are to blame for
the laxity of the system which permitted it, and the corn-
mttee of the Stock Exchange have only acted in the
interests of the public in passing a resolution to remove
the name of the Gnat Northern Railway Company from
their official lists, and in refusing to recognise any trans-
actions in their stock or shares so long as there was the
remotest idea of repudiation. The directors, however,
have since passed a resolution that in all cases where the
stock of the company appears to have been regularly
pur..hased in the market they will confirm the transfers
without hesitation. This will remove the veto of the
committee of the Stock Exchange. and their resolution,
following the precedent in the case of the Crystal Palace
Company, will probably be withdrawn on Monday, the day
on which it would otherwise have been confirmed.
Twe of the American railway companies, whose stocks
are extensively dealt in on the Stock Exchange, have
notified the opening of a transfer agency in London,
Messrs. G. Peabody, and Co.. being authorised for that
purpose, while the Union Bank are appointed registrars to
countersign each certificate. This plan is an effectual
guarantee against fraud.
A first dividend atf ss. 6d. in the pound has bees
declared under the estate of the Royal British Bank oa
debts amounting to 380#101. Had not Chancery pro-
ceedings interfered, 10.1. iu the pound would have been dis•
tributed before this time.

The Tia.le Reports of the week are generally of a satis-
factory character. The annual circulars are beginning to
make their appearance : in the few that we have had the
opportunity of glancing over we do not find any serious
complaint! of the want of business during the year; but
some represent that profits have considerably tallen off,
owing to the dearness of money.