The Express.
London, England, 1864-11-15 00:00:00

PROVINCIAL MAAR MAINITS.

LITIRPOOL, Nut. 14.—Sales today :—Edinburgh and Glasgow,
91—Great Eastern, 49 4—Great Western, 77 4 --LAncash'-e
a-id Yorkshire, 1174—London owl North Western, 12/19; 1
—Manchester, Sheffield. and Lincolnshire, dig 4 4—Metropo-
litan, 121 i 3—Mbiland.l.4s--ditto Isl. shares, 44—North Eastern
York, 1014 —bouth Eastern. 551 14 1 / I—London and
North Western St. Helens A. 1044 - Euffido and Lake Huron, 51
9.16—G00d Truuk of Canada, bl4—Ditto 3 per cent. 4th peel.
stock, 3.9—Dutch Ilhelosh, 5 p —Great Luxembourg shares, 111
—Confederate Loan, 63i—!]stern Exchange Rank
3-16 d.—Mercantile and Exchange Hank :Limited% 1 / 1 4 d.—
National Rank of Liverpool, Limited), 7; p —North Western
Bank 41 p—Albton Marine tLinilted 4d.—British and
Foreign Mamie Limited , 11.16 p.—Liverpool and London
and Globe Eire and Life 91 11.16 c. p.—Mere. Marine ;Limited),
4 d.—Quecit Insurance, / 13-16 ; p.—rnion Marine :Limited), 3
15.16 / 11.16 1 p —National Steam Navigation 'Company, 81 d.—
West India and Pacific Steam, if p.
MANCUMICA. Noy. 14.—A very good business was done,
prices closing not unite at the highest. Caledonian, 131—Great
East:rn, 494 4 4 9—Great Luxemieurg, Ilf—Orest Northern A,
1674 8 74-great Western, 77i4 1 4 4 4 4—Generil Credit, 216.16
CDeludson's Bay. 173—Lancashire ant Yorkshire, 1161 17 1
4 17—Lowt..8 and North Western, 120- 1 83 191 I—
lmer, Sheffield, and Uncolushini. 664 1 1 4 4 6—Ditto
New 6 per cent. pref.. all paid, 9 13-16-11etropo Ilan, 1191 30
4 1 11141224432224444 t 2 11 2 11—Ditto New, 21p —Mid.
and, lks 1 8 71—Intfc. New 181 ahem, 41 p.—North Eastern
(Berwick . Ils—Aouth Eastern, 5•; 4 4 4—Spanish
Pavives, 3l4—Thames and Money Marine Insurance, 51 -
Inter-
national, 3 p.—Ailtuice Bank, 13 p.—Exclauge Buildings, 140—
Yorks, 101.

MINES.--(TI118 DAY.)

Two o'Ctscx.

This being settling day, few transactionsare
going forward iu British mining shares,
and prices, with one or two exceptions,
present no variation. Great Vor shares
are quoted 33} to 34, being firmer ; East Caradon,
181 to 191 ; and East Grenville, 6to j. In the
Stock Exchange East Lovell had been dftlt in at 121.
St. John del Rev and Yudanamutaea shares are
firm ; the former have been dealt iu at 35i, and
the latter at 2.

An extraordinary meeting of the East India Coal
Company (Limited) is called for the 21st inst.
Amongst the proposals to be brought forward is
that of "authorising an increase of capital of the
company by the issue of preference or guaranteed
shares, and authorising the board to raise an addi-
tional sum by the issue of debentures or by mort-
gaging the estates of the company."
The first call of U, making V. paid, is to be
paid on the shares of the Nerbudda Coal and Iron
Company (Limited) by the 2nd Jan., and in India
by the Bth Feb.

Two 0/ouxes.
The stock markets are generally weaker to-day,
owing to realisations, combined with the announce- ,
went of the Egyptian Loan. The funds have de-
clined It to f per cent. Foreign bondh and home
railways are likewise weaker, and the drooping
tendency extends to most other securities.

There is no change in the discount market, the
demand being moderate, and the rate for the beat
bills 75 to 1 per cent. Short loans in the Stock
Exchange are obtainable at 5 per cent.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Relates were quoted
65fr. 05e., being sc. loner than yesterday.
Consols are now quoted 904 to 1, with div., for
money, and 89i., cx div., "sellers," for the
account (Dec. 8). The official business re.
port is as follows : Three per Cent.
'Consols, for money, 91, 904 ; ditto, for account,
891, 3 ; Three per Cents. Reduced, 881, 1, i; New
Three per Cents., 881, 1 ; Bank Stock, 238, 2391 ;
India Stook, 218 ; ditto Five per Cent. Stock, 106?.,
4,1, ; ditto Four per Cent. Debentures, 1866,
98 ; ditto Bonds, 4s. die. ; Exchequer Bills, March,
ss. dis., par ; ditto June, ss. dis.
Foreign stocks are generally rather lower. Some
lof the present quotations are as follows, viz.:—
Greek, 221 to 23 ; Mexican, 284 to 1 ;
Confederate, 63 to 63 ; Spanish Passive,
301 to 4 ; the Certificates, 131 to b ; Turkish
Boads of 1858, 701 to 711 ; ditto 1862, 71
to 72 ; and the Consolidde, 50/ to 1.
Transactions are recorded as follows :—Egyp-
tian, 961, 1 ; ditto, second issue, 96 ; Greek,
for account, 235, 23 ; Italian, for account, 644 ;
Mexican, 284 ; ditto, for account, 281, 3 ; ditto,
1864, 27, 261 ; ditto, Anglo-French, scrip, 111 dia. ;
Portuguese, 1856, &c., for account, 474 ; Rus-
sian, 1862, 87, ex dir. ; Spanish, Passive, for
account, 301 ; Turkish, 1851, for account,
89 ; ditto 1858, for account, 704, 714 ; ditto
1862, 72, 711, 721, 711 ; ditto for account, 711, ;
ditto, 100/. Bonds, 724. 72 ; Veneznela, 1864, 404.
The new Egyptian Irian fur 5,700,000/. has been
received flatly : the present nominal quotation is 1
to 1 prem.

International Financial shares are now quoted
28 to 3 prem. ; London Financial, 84 to 9
prem. ; General Credit, 2J to prem. ;
Imperial and Mercantile Credit, 24 to I prem. ;
.Hudson's Day, lit to ; Ottoman Soci6ti GOES-
ride, 1.4 to s prem. ; and Anglo-Egyptian Bank,
dis. to I prem.
The prospectus of the expected Egyptian Govern_
meat Loan has been issued, the agents being
Mears. Frithling and Giischen, and the con-
tractors Messrs. H. Oppenbeim, Nephew, and Co.,
of Alexandria. The amount is 5,704,200/.of stock,
bearing 7 per cent. interest from the let ult., but
2,000,0001. of the amount has already been sub-
scribed for. The price of issue is 93 per
cent., but becomes 02, allowing for the in-
terest accrued. Five per cent. is pay-
able on application, and the remaining
88 per cent. may be paid on allotment, or, at the
option of the allottee, the following instalments,
viz. :-10/. per cent, on allotment ; 201. per cent.
on let January, 1865 ; 201. per cent. on Ist Feb-
ruary, 1865 ; 201. per cent, on let March, 1865 ;
181. per cent. on let April, 1865, less 34 per cent.
coupon ; but if this option is accepted, interest
will be charged on the delayed instalments at 7 rer
cent, per annum from tho date of allotment. The
loan has been authorised by the Sultan, and, be-
sides being secured by the general revenues of
Egypt, is specially secured on those of the three
provinces of Dekahlieb, Cbarkieh, and Behere,
producing au annual sum of about 700,0001. net.
In confirmation of the view that this loan will have
little effect on the English money market, it is
explained that " the Egyptian government accept-
ances now iu circulation falling due next year will
be taken in payment of the two last instalments, or
of 38 per cent. of the payments in full, with deduc-
tion of interest at the rate of 8 percent. per an-
num," and that "the Egyptian Trading Company's
debentures falling due ou the Ist of December next
will also be taken in payment on allotment with
deduction of 7 per cent. interest." The fair prin-
ciple of a pro rat 4 division is to be adopted,
it being intimated that " it is intended to make the
allotments rateably as far as the subdivision of
the bonds permits, but inasmuch as the smallest
bond issued is 1001., no allotment can be made where
the rateable proportion would not amount to 1001."
The present is, we believe, the first occasion on
which this principle has been followed in the allot-
ment of a loan in this countty, and the result will
therefore be regarded with the more interest. The
brokers are Messrs. P. Cazeuove and Co. ; Messrs.
Robins and Barber ; and Messrs. Laurence, Sun,
and Pearce.

Looking hack at the past history—a brief one—
of Egyptian finance, it must be conceded that the
present application is entitled to favourable cowl-
, duration. The previous loan raised by the &gyp-
tian government was brought out at 8211,, in a 7
per cent. stock, and rose to 105 to 106.
The unusual extent of the advantage thus
enjoyed by the original subscribers proved that
that loan was in some degree an experimental one,
and brought out at an experimental price. The
credit of the Egyptian government having
since become confirmed, a price approxi-
mating more nearly to the current market
quotation is asked upon the present occasion.
The existing Seven per Cents. were quoted three
mouths ago at 102, and are now 96 to 97, but the
new loan has one advantage, inasmuch as the re-
demption at 100 is to take place in the course of
15 years, instead of 30, as in the case of the old
loan, and this is computed to make a difference of 3
to 4 per cent. in favour of the new stock. _

The warning which has occasionally • been put
forward in this journal that Turkish Consolable
stand in a very different position to that occupied
by the Anglo-Turkish Loans, which are secured
upon special customs revenues, bas been confirmed
by the fact that the half-yearly dividend due on
the former paper in Constantinople has not yet been
announced. In consequence, it has been decided
by the Stock Exchange Committee that, in order
to facilitate the settlement of pending trans-
actions, the Consolide's Bonds are to he delivered
with the coupons attached, and that in the event of
the coupons having been cut off, 21. 144. per cent.
is to be deducted on account of each half-yearly
coupon, being the rate at which they have hitherto
been taken.

About 24,0001. in gold was sent into the Bank
yesterday, but 80,000 sovereigns were withdrawn
fur despatch to Alexandria.
The following circular announces the failure of
the old and respectable house of Messrs. Henry
Powell and Sons, ship provision merchants, owing
to the stoppage of their firm at Galatz, where
financial affairs have been troubled by the high
value of money here. The liabilities are computed
at about 100,000/., and the realisation of the assets
will probably show a satisfactory result. Messrs.
Powell and Sons bare transacted a large business,
chiefly in supplying ship provisions to various
governments

39, Fenchurchatreet, Nov. 14.
Gentlemen,—lt is with the deepest regret we have to
inform you that in coosequence of a telegram nerved yes-
terday from our Galata house, announcing it had turmended
payment, we are compelled to adopt the same step. We
have plastid our books, Sc., is the hands of Mews. Cole-
man,
Turquand, Youngs, and Co., and shall shortly be in
a position to lay a statement of our affvirs before nor credi-
tors. We trust, with the kind comideratioo and f ohe.r.
anon of our creditors, to be able to realise favourably, end
to make a satisfactory liquidatieu.—We are, giattlemen,
yours obediestly, Iftisi Powiu. sad BAIL

MONEY MARKET.-(THIS DAY.) The committee of the St. Exnbang hate_ pointed Thursday, the 17th November, a special
settling day in the shares of the Aberaman hoe
Works (Limited), late Crawshay Bailey's, for
transactions entered into on and after Sept. 0. A
quotation in the official list was not asked for.
The same day hail also been appointed fur the set-
tlement in the new 501. shares of the International
Bank (Limited).
The South Easteni Railway traffic retnrn shows
this week an increase of 1,948/. over last year ; and
the Brighton au increase of 1,7401.
It appears that the lease of the London and
Blackwall Railway Company to the Great Eastern
Railway Company is i. pc:petnity at 41. per cent.,
and has been agreed t., by the tuard, both e,nn-
panies.
An extraordinary in2eting of the London hark of
Mexico and South America took place yesterday.
The chairman. Mr. .1. Paterson, explained that the
meetimt was called !" a clerical error. The
bank ear an aulai two :,ndertakings,
each lei vilfr.f. a Loud: nil ie.e million
sterli: ittsl eche!, e hanks join. 't ‘V.l`, inteieitsi
that their c-:pita! be' I. They
hail all alon; ad vertisiel their ban's as !
capital of two millions, bat by :1 r they
had been registered at the L • i T: with
only one million capitai,an error thee w.,e called
upon to notify. The six months' of the
bank, the chairman added, has been highly ,ncce.m-
ful, and no concession Las yet been given to any
bank by the Mexican government, but a capital of
at least four millions would be requisite for a bank
to obtain the concession. He suggested, toerefore,
that theircapital should at once be increas,3 to übat
amount. After some discussion the directors were
authorised to increase the capital to 4,000,00 W., by
!the creation of 80,000 shares, but no iti.on for
•

the creation of new shares Beyond 20,1100 is to be
valid until ratified by a resolution passed at a
special meeting of the shareholders.
The half•yearly meeting of the Bombay. Dam*
and Central India Railway Company is for
the 16th December.
The Bahia and San Francisco Railway Company
have notified that, the shares being fully paid up,
ou presentation of the share zeetificates they will
be stamped to this effect.
An extraordinary meeting of the Lan ham
Hotel Company (Limited) is calle•l for the 2:314
inst., when it will be propo,e,l to incrvasa the
nominal capital of the company from 159,0001. to
180,0001., by the issue of 3,000 new shares of 101.
each, bearing 8 per cent. preferential dividend.
The mails from Calcutta and Australia, by way
of Marseilles, are expected to be distributed in
London to-morrow morning.

MoxDAT EVILEDIG.

Consols, which closed ou Saturday at 894 to 4
ex div. for the Bth December, opened this morning
at the same quotation, rose to 89; t 190, An l chtsed
at 892 to 4. For money the last price was
xi to 91, with div. The official business
report is as follows : Three per Cent.
Consols, for money, 901, 911, 90; ; ditto, for
account, 89&, , 90, 894, ; ; Three per Ceuta.
Reduced, 881, 89j, ; New Three per Center,
881, 891, ; India Stock, 910 ; ditto Fire per Cent.
Stock, 106:1, 107 ; ditto Bonds, 4s. dia.
The India Five per Cent. Stock was steady. India
Bonds were marked 4e. dis. Exchequer Bills were
unaltered, the March being quoted 3a. dis. to 2s.
prem., and the Juno us. dis. to par.
In the foreign stuck market prices in some cases
were higher, and in others rather lower. Egyptian
and New Granada Bonds rose per cent., and
Italian 2. Greek declined 4, and Spanish
Passive 1. Ae regards Turkish securities,
there was an improvement of 4 per cent. in the
Loan of 1854, but a decline of like amount iu that
of 1858. The Cousolich.4 were dull, tiring to the
doubt respecting the dividend.
The late rise in bank shares is well supported,
and in several cases a fresh advance has taken place.
Alliance Bank rose about 1/. 10s., and City Bank
2f. Au improvement was also quoted in Bank of
Egypt, Consolidated, East Loudon, Imperial, Lon-
dull Bank of Mexico and South America, London
Chartered Bank of Australia, London and County,
London Joint Stock, London and Westminster,
Bank of New South Wales, Oriental, and Scinde,
Punjaub and Delhi. Bank of Australasia and Brazi-
lian and Portuguese Bank shares were rather lower.
Imperial Ottoman Bauk, after rising to 7i to
prem., haul fallen at the close to 7 to 71 prem.,
owing to a number of speculative sales.
Hudson's Bay shares were rather dull, at 17i to
; Egyptian Trading better, at prem. •
National Discount firmer, at 10 to 10} prem. ; and
Joint Stock Discount, ss. to 7s. Gd. higher, at 1 to
cis dis. An improvement took place in City Offices,
Electric Telegraph, Natal Land, National Finan-
cial, English and Australian Copper, Rhymney
Iron, and North British and Idernanthe Insurance
shares. Ocean Marine Insurance rose about 1/. 10a.,
and there were inquiries for Thames Mersey
Marine and Universal Marine. Telegraph Censtrue-
tion and Millwall Ironworks shares -sere rather
more offered.

The shares of the financial companies were a little
more offered this afternoon, and in two or three
cases a reduction of 2s. 6d. per share took place.
The closing quotations are annexed, viz. :—lnter-
national, 2i to 3 prem. ; General Credit, 21 to 3
prem. ; London Financial 81 to 9* prem. ; Imperial
Mercantile Credit, 21 to preni ; Credit
Fonder and Mobilier of England, 21 to ; prem.

COMMERCIAL AND MARKETS.

LIVERPOOL COTTON AND CORN MARKET.
(TIIIB DAY.)
(11T RLICTRIC ♦ND ,wrtziAnoNer. TEL/SRA PR.)
IRON Oct OWN CORRESPONDENT.)

Corrox.—.ThemarretCra;7. rtadp pruxi. S des pro.
beg, 6,000 !ales.

CORN. —Tbe market rattier quiet but stead.... AO prices
have been generally fairly maintained, and b.ol the frost held,
would have gradolly improved. Flour nochenie I. Indian
corn, mixed American, 28s. to 235. 61, Cz: pilau beans,
41a. to Va.