The Express.
London, England, 1864-06-29 00:00:00

X 0737 MARKET.-(THIS DAL)

Two o'CLoac.

The stock markets to-day are firm. The funds
remain at yesterday's quotations, but an improving
tendency is observable in the share and foreign stock
markets, notwithstanding the extent to which atten-
tion is occupied with the settlement, Home railway
stocks continue to meet with chief favour, and have
advanced ; and an improvement, though less in
amount, has taken place in some of the speculative
foreign stocks.

The discount market is quiet to-day, although
the supply of money appears to have somewhat
diminished. There is no disposition to transact
business below 6 per cent. In the Stock Exchange
the demand for short loans on English government
ecurities has increased, and the rate is now ful to
6 per cent.
At Paris to-day, according to Mr. Reuter's
telegram, the Three per Cent. Routes were quoted
65fr. 75c., being / per cent, lower than yesterday.
Consols are now quoted 90 to 1, ex div., for
money, and 90k to f, ex div., for the ac-
count (July 8). The official business report
is as follows :—Three per Cent. Consols, for money,
90, ; Three per Cents. Reduced, 891, 89.
New Three per Cents., 891, 89 ; Annuities, 1886.
141 ; Bank Stock, 238, 237 ; India Five per Cent.
Stock, 104, 1 ; Four per Cent. "enfaeed" rupee
paper, 991 ; Exchequer Bills, March, I's. die. ; ditto
June, be. die.

Anglo-Turkish Bonds are better, the Loan of
1868 being quoted 691 to 701, and that of 1862
71 to 1. Several other foreign stocks have likewise
slightly improved, though it must not be forgotten
that the quotations are now for the new account.
Greek Bonds are quoted 24 to 1 ; Mexican, 441 to
1 ; Spanish Passive, 291 to 1 ; Confederate, 63+
to 64 ; and Turkish Consolid4s, 481 to 1.
Transactions are recorded u follows :—Brazilian,
1863, 861 ; Egyptian, 101/ ; Greek, 241, 24 ;
ditto, for account, 241, I?, 1 ; Italian (Maremmana
Railway), 761 ; Mexican, 441, i ; ditto for
account, 451 ; Portuguese, 1856, &c., 481, 491 ;
Spanish, 521 ; ditto, for account, 53 ; ditto Pas-
sive, 291, 30 ; ditto, for account, 291, 30; ditto
Certihcates, 101, 91 ; Swedish scrip, 4 prem. ;
Turkish, 1854, for account, 901 ; ditto, 1858, 691 ;
ditto 1862, 71 ; ditto, for account, 71 ; ditto 100/.
bonds, 711.

International Financial shares are now quoted
5 to I prem. ; General Credit, 31 to prem. ;
London Financial, 111 to 12 prem. ; Imperial and
Mercantile Credit, 21 to 1 prem. ; and Hudson's
Bay, 181 to n.

The Vienna Bourse exhibits increasing depres•
'ion in consequence of the violent course to which
the Austrian government has committed itself.
The dividends due the Ist of July on the
Turkish loans of 1862 and 1863 are advertised for
payment in due course by Mewls. Glyn, Mills,
and Co.

The mail from Guayaquil has brought a remit-
tance of 2121. on account of the dividends on the
debt of Ecuador.

No gold was withdrawn from the Bank yesterday,
but the 115,000/. by the Australasian, from New
York, was taken for transmission to the continent.
The foreign exchanges yesterday afternoon were
generally quoted the same as on Friday. The
rate for bills on Vienna has slightly advanced.
Subjoined is our usual list :
Amsterdam, 3 months, 12.04 ditto, 3 days,
ILIB to j ; Rotterdam, 3 mouths, 12.0} to j ; Ant-
weep, 3 months, 25.571 to 62j ; Hamburg, me. hump, 3
mouths, 13.4 to g ; Paris, 3 days, 25.15 to 25 ; ditto. S
mouths, 25.571 to 60 • Frsakfort-oe-the-Mains, S months,
119 j to 1201; St. Pettinbiarg (pm rouble), 3 montbs,3l4 to ;
Vienna, eff. So., 3 months, 11.90 to 95; Trieste, eff. 80., 3
mouths, 11.93 to 95 ; Madrid, 3 months, 48 to ; Cad;a, 3
months, 48 to • Leghorn, 3 months, 25.65 to 70 ;
o.ooa, 3 manta, 25.65 to 70 ; MULL 3 mouths,
95.65 to 70 ; Naples, 3 mouths, 25.65 to 70 ; Palermo,
3 mostba. 25.65 to 70 ; Messina, 3 nroatbs, 25.65 to 70 ;
Lisboa, 90 days, 51j to 52 ; Oporto, 90 data, 51j to 52.
One of the most important joint-stock nn-
dertakings bror.ght forward for some time
past is announced under the title of the
Ebbw Vale Company (Limited). The capital pro-
posed is no less than 4,000,0001., in 80.000 shares
of 501. each, but the prospectus states that " It is
estimated that not more than two-thir3s of the total
capital will be required to be called up." Subscrip-
tions for upwards of 1,000,0001. have already been
lodged. The object is to transfer from private
hands to a publia company the celebrated Ebbw
Vale collieries and ironworks, and other
properties of great importance ; a long sr u-
monition of which is given in the prospectus.
This is, indeed, the largest trading concern of the
kind in this country : the works afford employ.
ment for more than 15,000 persons, and the present
annual produce is 850,000 tons of coal, 130,000
tons of pig iron, and 90,000 tons of rails and
finished iron—quantities which can be largely in-
creased. We are informed that the income from
the real property of the firm amounts to as much
as 50,000/. a year, irrespective of the trading
profits. Arrangements have now been made for
the production of steel in large quantities by the
Bessemer process. All the names connected with
the project are of high respectability. Mr. Abraham
Darby, the principal proprietor and managing
partner, becomes chairman of the board,
and will give the company the benefit
of his experienee as managing director for
live years. In other respects the entire work-
ing organisation of the establishment will remain
unaltered. The Bank of England, at their
head office and various branches, are the bankers to
the company. It must further be mentioned, that
there is "no promotion money or other similar
payment." The defects ill the prospectus—defects
which it is highly desirable to have rectified in an
undertaking of this magnitude—consist in the
absence of details as to the valuation of the pro-
perty, also as to the present returns, and the price to
be paid for the entire property. On these important
heads the prospectus merely remarks, that " the
properties and works have been purchased on very
favourable terms, on valuations made by eminent
mining engineers," it being at the same time men-
tioned that "the vendors will subecribe for shares
in the company to the extent of half a million
sterling."
The prospectus of "The London (Limited)" has
also been issued. The object is similar to that pro-
posed by the proprietors of the London Tavern
and the Albion Tavern, in recently converting them
into a public company. The present company pro-
poses to purchase the "London" restaurant for
34,5001., including the 33 years lease, goodwill,
furniture, plant, kc. One-ball of the purchase
money is to be taken in shares, with 71. credited
thereon. Mr. Frederick Sawyer, the present pro-
prietor, undertakes the management for three
years, and guarantees for that period a minimum
dividend of 12} percent. Mr. Sawyer's remunera-
tion for his services as manager is to be one-half of
the profits after payment of a dividend of 14 per
cent. to the shareholders. The capital is 55,000!.,
in s,sooahares of 101. each, one half of which are
already subscribed.
The half-yearly meeting of the shareholders of
the City Bank is called for the 19th of July, and
will be made special, to authorise an increase of the
capital by 1,000,000 t , in 10,000 shares of 100/. each,
to be " allotted and issued to such persons' in such
manner, at such times, on such terms, and at such
prices, as the directors may think fit."
A general meeting of the shareholders of the
Bank of London will be held on the 20th of July.
A special meeting of the Eaat India Financial
Association (Limited) is called for the 6th of July,
"for the purpose of enabling the association to
exercise the powers contemplated by act of par-
liament, 27th Vic., cap. 19, for joint-stock com-
panies carrying on business in foreign countries to
have and use official seals in such countries."

A fifth and turd call of V., making 10/. paid, is
to be paid on the shares in the Pant Gas Company
(Limited) by the 14th of July.