The Express.
London, England, 1862-08-01 00:00:00

LONDON. FRIDAY EVENING,

OR en mil tamest. Pima Sox Price 9L.
ESSAYS by a BAJA/Junin& (Reprinted from the
Smith, El B::ra,tl Cu lte."667.archill.

THE I

No less than three new foreign loans were for-
nially announced yesterday—namely, the Vene-
zuelan, the Peruvian, and the Egyptian, the latter
being • second inane.
Most of the principal features counselled with
thew, operations having already transpired, little
roman's to be said, except to record the success of
ankfee of them.
The prospectus of the Venezuelan Loan for
1,00040001.. of Six per Cent. stock at 63 does not
appear to be advertised in the ordinary course. We
appall the most material portion :
Been. Bonn Brothers sad Co. beg to announce that at
the reined of many perdu isterseed Is the existing debt
of Yeeesaeht, and of Senor Dos H. Nadel, fiscal ageot, from
the repablie of Venezuela, they bare *greed to offer to the
public) • loan for that republic, for the sum of 1,000,0001. ,
nentiold espied, of which 300,0004 being already subscribed,
=now prepared to receive applicatioos for the re- I
, a further amount of about 214,0001. in 6 per cent. '
=to provide for the unpaid Coupons of the Vein-
and Ijj per cent Hood,. due of sod from let July,
1860, to lit January, 1882, both inch: wive, being issued at
toattisseingd the bosdholshise oc2sthlene
pet i
RZeed be
hoods for this loan will be issued in the followiog
moan* viz.: 1001.,
pectur 2001. sad 5001. each. and the divi-
will be -yearly at the countlet
erb( and Oe , the ld Nay
sad let November respectively. The price of issue is 63 per
cent, with iutessist to subscribers from Ist May last, and
payment will be required as follows :
51. on application.
101. further on allotment.
181. „ on Ist November, less the half.year's divi-
dend of 31.
101. „ on 15th November.
101. „ on 15th December.
101. „ on 13th January.

631. per 1001.
In OM of nos-allotment, the deposit mosey will be re-
turned, without further liability on the part of Messrs.
Baring Brothers and Co. The objects of this loan are,
after diMarOng sundry small debts in this country, to
effect the Masse of the customs revenues of La Guayra and
Puerto Debella from the mortgages now existing on them
at marrow rates of interest, to re-establish the currency on
a solid hens, end to restore financial order and regularity in
the republic.
As security far the lose the government of Venezuela,
through Ms Excellency General Jape Antonio Pam, chief
of the republic, has engaged to execute • special hypothe-
cation of 66 per cent. of the customs revenues, denvable
from the porta named, guaranteed by the government, at a
minimum annual produce of 164,0001. milli the year 1865,
and of 186,0001. from thenceforward, upon which this
loan constitutes a first annual charge of 80,0001. per annum,
being 60,0001. for interest, and 20,0001. for sinking fund
annually. This sinking fund to be employed to cancel the
bonds by purchase, so long as the price be under or at par,
and should it rise above part by lottery of the bonds. It
has been officially stated that the pees receipts at the
custom-house of La Own, from December, 1859, to the
20th November, 1861, were 2,167,998.10 dolt. ; Puerto
Cabello, from December, 1869, to the 11th November, 1861,
were 1,109,533.8 t dole. ; total, 3,277,583.94 dole. Freon
the proceeds of this loan at 63 per oat., a sum of 60,000/.
will be retained by Basra. Baring Brothers and CO.. for the
firm year's dividend, and the further amount which may be
necessary to give effect to the resolutions pared at a public
meeting of bondholders held at the London Tavern, on
the 20th ultimo, affecting the present debt of Vessesnele.
_ _

.
It will be noticed that, as 300,0001. out of the
1,000,0001. has already been privately subscribed
for amongst the old bondholders, applications are
now really invited for only 700,0001., and it is said
that subscriptions to the extent of fully three-fifths of
this amount were sent in to Messrs. Baring
Brothers and Co., Ltd evoning.
The new Loan was very favourably received, and
(shoed yesterday afternoon at si to 31 prem.
The prospectus of the Peruvian Loan for
6,500,000/. of Four-and-a-Half per Cent. stock at
93 has been *lied to the public. The
Isms •611 *he elst bondholders are
to be dealt with are, it must be confessed, of a
character to make them satisfied, for, whether they
avail themselves of the arrangement or not, their
property is raised in value by the present act of the
government. Those who have lent money to Peru
have unquestionably profited largely by it, and this
consideration will probably constitute the best sup-
port of the new loan. The object has of course
been, by settling with the existing bondholders, to
give the new loan a first lien upon the guano reve-
nue in this country and in Belgium, which yields
a considerable surplus beyond whit is required
for the service of the loan. Were the
whole of the 5,500,0001. of stock now offered to be
redeemed at 1001., the extraordinarily large and
accumulative sinking fund of eight per cent. per
annum, would extinguish it in ten years, but tho
operation will probably be swifter. The interest of
the present loan represents only 247,5001. per an-
num, while 440,0001. is to be applied annually to its

redemption.
The scrip of the New Peruvian Loan was quoted
yesterday afternoon 2} to si prem.
The prospectus of the second issue of Egyptian
Government Stock to the amount of 1,097,6001.
(being equal to 50 per cent. of the amount of the
first issue) has also been published. It is offered
to the holders of the first issue at 84 per
cent., including a coupon of 3} per cent. duo
the Ist September. Consequently, reckoning
discount and everything else, the existing
bondholders get the new stock at within a few
shillings per cent. of the price given by them for the
first issue. Considering that the agents for the Loan,
Messrs. Friihling and Goachen, made an absolute
contract some months back, and have since held
the stock at their own risk and peril, their conduct
in waiving all claim to participate in the great
advance which has occurred in the price, forms
one of the moat conspicuous instances of high-
minded liberality in these matters on record. The
net price of the new stock, reckoning discount and
scorned dividend, will be between 814 and 81 for
s 7 per cent. bond.

Nwrinnu.unts LAND COMPANY. —The tenth an-
nual meet* of fii compsay was held yesterday at the
London Tavern ; Mr. Bidder in the chair. Mr. Head, the
secretary, read the report, which stated that the agreement
with the Dutch goveretnenthad received the madam of the
legislature. The board in April last entered into a contract
with Messrs. Peto and Betts to meadow about 800 acres
of land forming pert of the Krabberadyke Polder lost in
1858. This enclosure hu now been completed, and a por-
tion of it is now being cultivated for a next year's crop.
The area of the company's land now enclosed is about 1,900
acres. The directors are now endeavouring to let on lease
the whole of their enclosed land in one letting, finding that
their farming operations yielded no adequate returns. The
chairman mid the position of the company was much more
satisfactory than it was last year. Their arrangements
with the Dutch government had ben amicably earned out.
The lead reclaimed was of great value, and the government
would require about /50 acres of the Bath Polder for the
purpose of the:es:wiz, which at 881. 13s. 4d. per acre,
the ials agreed to be by the government, will amount
to 10,11001. He ed by moving the adoption of the re-
port, which was agreed to. On the motion of the chairman
a reeolution was adopted authorising the directors to sell
the endyked land, and devote the money to paying off the
obligations of the company. The directors ►al auditors
were re-elected.

New LAW ON COPYRIGHT. —Yesterday the
new act to amend the law relating to oopyright
in works of the fine arts, sod for repressing the com-
mission of fraud in their production and sale, was printed- s
Before the sot was passed, paintings, drawimp, sad photo- .
had no copyright • and it is 1101/ provided that copy.tight io Each works shall vest in the anther for kis We, '
sad for eves years after his death. All ant midis
the set is to be deemed a personal moves k estate, sad
to be maligned or Boomed is writing. A register le to be
kept at fitatiosenflall of all dregs of
is paisfA drawings, sad plioters Pissilifose°l3lr,
whit forfe of *min made, out he emoriertly laspood,
sad the importation of primed works stopped swiss the
animas acts. Tbs}ew law has kmatellate epersties, sod
eine tote hese is resetting the mat meet es Toot*.