The Express.
London, England, 1864-01-11 00:00:00

MONEY MARSET.-(THIS DAY.)

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The funds to-day are firmer, and an improvement
of 1 per cent. has taken place in Consols, an im-
pression being apparently entertained that the
course of the Danish-German question is becoming

somewhat more favourable. dome railway Stocks
are dull, and show a rather drooping tendency,
but some of the speculative foreign stocks are
somewhat better.

At Paris this morning, according to Mr. Renter's
telegram, the Three per Cent Rentes were quoted
66fr. 93c., being sc. better than on Saturday.
Consols are now quoted 901 to 91, for money,
and 91} to 1 for the account (February 4).
The official business report is as follows:-Three
per Cent. Consols, for money, 91, 901; ditto, far
account, 911 ; Three per Cents. Reduced, 94, 91 ;
New Threejper Cents., 91, 901 ; India stock, 215;
Iditto Five per Cent. stock, 106 f, ; ditto Four
per Cent., 1003 ; ditto Bonds, at. prem. ; and
Exchequer Bills, 35., 4s. prem., par, is. die.
Foreign stocks are rather firmer. Mexican
Bonds and Consolidds have risen per cent.,
Spanish Passive #, and Greek I. Turkish Bonds
of 1862 are quoted 671 to 1, ex div. ; ditto
1864, 891 to 90 ; Greek, 231 to 24 ; Passive, 331 to
341 ; Mexican, 361 to ; Brazilian scrip, 1
to Of die. ; and Turkish Consolidds, 47 to f.
Transactions are recorded as follows:-Brazilian,
1863, 88 ; ditto scrip, 1 die. ; Dutch Two-and-a-
Half per Cents, 641, ex div. ; Danish, 811 ;
Egyptian, 1011, ; ditto second issue, 101 ;
Greek, for account, 231 ; Italian, for ac-
count, 68+, 671, ec div. ; Mexican, for
account, 36#, 1 ; Portuguese, 1853, for ac-
count, 47f, 1, ex div. ; ditto 1856, dm., for account,
471, 3, t, ex div. ; ditto scrip, 1, I, prem. ;
Russian, 1822, 91i ; ditto, 1860, 861, ex div. ;
ditto 1862, 881, 891 ; Spanish Passive, for
account, 33+, 34 ; ditto Certificates, for account,
13#, 1 ; Turkish, 1854, for account, 901, 891 ;
ditto 1858, for account, 70 ; ditto 1001. Bonds, 73f ;
ditto 1862, for account, 671, 68, 671, ex div. ; ditto
1001. Bonds, 681, div.
International Financial shares are quoted 411!
to 1 prem. ; General Credit, 21 to 1 prem. ; Lon-
don Financial, 10 to prem. ; Hudson's Bay,
17 to 11, ex div. ; Egyptian Trading, 11 to 2
prem.; Merchant Banking, 33 to 41 prem. ;
Land Mortgage Bank of India, 2} to 1 prem. ;
English and Swedish Bank, 1 to 11 prem. ;
East London Bank, 21 to 3 prem. ; Consolidated
Discount Company, 1 to 11 prem. ; West India
and Pacific %team, If to Is prem.; Mauritius
Land Credit and Mortgage, lf to 11 prem.; Mer-
cantile Credit, 4} to 5 prem. ; Discount Corpora-
tion, 4 to 1 prem. ; Contract Corporation, 21 to 31
prem. ; National Steam, 1 dia. to prem. ; and
Australian and Eastern Steam, 2 to I prem.
The aspect of foreign politics seems to form
the sole obstacle to business, and to an im-
provement in public securities, for it cannot be
doubted, in face of the continued disposition ou the
part of the public to invest, that any favourable
intelligence would have a material effect on quo-
tations. Under present circumstances, however,
the chief business consists of speculative operations,
directed to lower prices, and based upon the belief
that the state of affairs in the north of Germany
will lead to further agitation.
About 14,0001. in bar gold was withdrawn from the
Bank on Saturday for exportation. It is believed,
however that the supplies of bullion from America
and Australia will prove nearly sufficient to meet
the continental demand, and that no important
amounts will be taken from the Bank, though a
parcel of sovereigns is expected to be withdrawn
from that establishment to-day for Alexandria.
The Australasian, from Now York, has brought
68,0001. in specie for England.
The amount of Australian gold known to be now
at sea le 384,5001., of which about 142,0001. is due.
The Prince of Wales has 142,0001. on freight, the
Suffolk 115,5001., the Water Nymph 56,0001., and
the Omar Pacha 71,0001.
The advises from Sydney announce the failure of
Mr. John Meitlon, merchant, with liabilities (part
contingent) to the amount of 41,0001., and assets
12,0001. An offer of ss. in the pound in cash and
3s. by approved bills, was refused by tLe creditors.
The accounts from Melbourne state that tenders
were opened by the government on the 2nd of No-
vember for 200,0001. of railway debentures. The
minimum was fixed at 1051. 10a., and only 158,770 f.
were applied for, of which tenders for 74,5701.
were at or over the minimum, and were accepted.
The residue, being below 105/. 10a, were relented.
The government subsequently received offers for
the balance at their price, but refused them.
It appears that 707,436/. of Queensland Govern-
ment Debentures are about to be brought upon the
London market. The following is from the Owes-
land (Fairfax's) Journal of Commerce, of Nov. 19:
Tan QumwsLavnLoss.-Tlv• first QueenaLued Lose se
17.4.e00!. haring been expended upon the various public
win-hater which it was raised, the legislature in September of
the lemma year sanctioned a second loss to the extent of
707,4361. for the following purposes:-Immigrates,
100,0001.; electric telegraph asisesion, AWOL • railways.
UMW. ; ins reesente of harbours sad rivers;l2o.oooL ;
water ,== . 80,0004 roads and bridges, 83,103 K
public 18,0301. ; total, 707,4361. As sgreeneent
has been en into with the Union Sank of Australia to
set as the agents of the Qmsensland marmoset In the
negotiatioo of the Loss. end in planing the Debentnemi at
eie early date upon the London Stock Exchange. AMINO
It may be wasi&rird somewhat oat of piece. Ire MI monk
that the introduction of three-quartereals middies el Reel&
capital into the oeiony is an event demoniac ol esti" sad
although it is dose so gala y as to produce writlect -ties
sat sicitetuest, is wverthelea fraught with meet la-
peewit results for the future, osrlain as mad be fate reset
most favourably in giving a stimulus to every industrial
pundit, and in developing stall more tepidly our hitherto
untried lad undiscovered resources.
By the mail just arrived from Mauritius letters
have been received from the Hon. C. W. Wiche
and the Hon. Robert Stein, both members of the
Council, consenting to act as members of the Local
Board of the Mauritius Land Agency Company,
lately introduced to the public by the International
Financial Society. The new Mortgage Loan,
alluded to in the company's prospectus, has been
passel in council, which will enable the company
at once to commence operations.
The "Sociit6 de Cridit de Genevoia" has an-
nounced at Geneva the issue of the first series of
its shares, which are of 500 f., or 201. each. Although
the number of these is 25,000, the number reserved
for Geneva and Switzerland, and for which subscrip-
tions are invited there from the Bth to the 12th
inst., is only 4,000, the inference being that the
bulk of the capital is proposed to be placed in
other markets. In the list of the members of the
board of this company are two directors of the
General Credit and Finance Company of London,
visa Mr. S. Laing, and Mr. Edward Blount, of
Paris.
The prospectus of the London Mercantile Dis-
count Company (Limited) is issued. The proposed
capital of this undertaking is 500,0001., in 501.
shares, of which 250,000/ is to be issued in the
first instance. It is mentioned that the object is
to "carry on and extend the business et an im-
portant discount establishment," and that ar
ments have been entered into for "securingrtbs
active c?-operation of the principals ;" also that
"negotiations are pending for the further acquisi-
tion of discount establishments."
The half-yearly meeting of the shareholders in
the Bank of New Zealand was held at Auckland on
the 30th October last. The report of the directors
was very satisfactory. The net profit for the half-
year ending 30th September last amounted to
39,5231. 14a. 5d., to which was added the sum of
1,6681. 19s. Id., balance of undivided profits from
the previous half.year, making a total division of
41,1921. 134. 6d. Of this sum 27,0001. was carried
to the reserve, which in a little over 18 mouths has
reached 60,0001. The fourth dividend, at the rate

of 10 per cent., absorbed 12,468!., leaving 1,71111 L
to be carried to next account. The working of the
bank has been extremely successful, the net pectin
on the paid up capital being over 30 per cent.
The half-yearly meeting of the Bank of Near
South Wales was held at Sydney on October 21.
The report was, as usual, unanimously adopted,
and a dividend and bonus equalling 20 per cent. per
annum declared. The net profits amounted he
73,2631. 6s. 6d ; from bad debts had been recovered
3,4101.4 e. Bd., which, with 3,128/. 6s. ld. of pre-
vious undivided profit, made a total of 79,801 i.
17s. 3d. for distribution. After payment of divi-
dend and bonus, 4,801/. 17s. 3d. was carried over
to the present half-year.
The directors of the Consolidated Discount Com-
pany notify the commencement of business at Re.
4, Abchiuch-lane.
The first call of 31. is to be paid on the sham at
'the National Steam Navigation Company (Limited)
by Feb. 8.
A special meeting of the London Financial Asso-
ciation will be held on the 20th inst., to confirm the
resolutions passed on the 21st ult.
A first call of lf. 10s. is to be paid on the shares
in the London Tavern Company (Limited) by the
30th inst.
The receipts of the Great Western Railway. d
Canada for the week ending the 25th December,
were 11,858/.,. being 1,2431. more than in the corre-
sponding week of the previous year.
A petition for the winding-up of the Pneumatic
Ship Raising and Universal Salvage Compaq
(Limised) is to be heard before the Master of the
Rolls on the 16th inst.
The Crystal Palace Company have announced
that the half-yearly dividends on the Seven
_per
Cent. Preference Stock and the Six per Cent. De-
benture stock to the 31st December, and the divi-
dend on the ordinary stock for the 12 months end-
ing 31st October last, will be payable on the Milk
instant
We are requested to state that the share list of
the British and Foreign Contract Company will be
closed on the 14th inst.
1 With reference to the Imperial Ottoman Bank
the Lerani Berahi of the 30tb of December says :
The marked improvement in the monthly return of the
Imperial Ottoman Hank has been a prominent topic of re-
mark during the week. Two features especially—the ia-
cream in the number of current accounts, es in that also d
deposits—have sot failed to attract notice, and bare bees
accepted as the beet possible proofs of the growing public
confidence in the Institution.
With regard to the approaching session and
budget, the circular of Messrs. Joseph Travers and
Sons remarks as under :
Parliament is summoned for the 4th of February, aid
speculation with regard to the date and nature of the
budget to be submitted by Mr. Gladstone are begineing to
be &monad. The revenue retorts, published on the la
instant, was suffineut to demonstrate that, awning the
commencement of war in Europe to be averted in the ia•
tend, there will this year be umber surplus, the herniate
at which, it may be assumed, will agile be equally divided
between a reduction of the isocline tax and a reduction of
import duties. A loeg continuance of the present hest
may, br mending some of the principal occupations of the
people, interfere with theCuatoas and Facies receipted the
entreat quarter ; but looking at the general activity el
commerce and of monetary enterprise, this is not likely
to be of en extent to do more than
aS
diminish the favourable calculations now ente
In his tiosocial statement last year, Mr. Gladstone
that, next to the tea duty which be was then about to deal
with, the sugar question was of the greatest importance;
but that as some points connected with it were about to he
considered by as international commission at Paris, he pro-
posed to defer any action till Mt Meanwhile he weeLl
only pewees his alteration of the tea duty fora
year. is
order that tie and sugar might, at the seat ad, be
dealt with amordim__to the views of the house as to eat
respective claims The Paris conference was 'imply me le
the best mode of levying drawbacks, and the report awe
published of the deliberations sod proceedings of the ewe-
misname= shows that they were unable sod unfit to grapple
with the matter on any rational principles. The
oommissioners took the broad view that a nail=
should be levied on all linger, a method by which every
difficulty with regard to drawbacks could be obviated;
but the French and English remmentetives were evidently
bent ou supporting tbediffereatial male, which is so then if
insisted upon by the refiners, from the protection it ad
them, sod did not hesitate to resort to statements which
Mr. Gladsteoe is now well aware would be too mildly de-
scribed by the weed inaccurate. The attempt to Mot
the application of free trade through the labours of this
COMMII6OII basest thus completely failed, it now reneens
to be seen bow Mr. Gladden's will eater upon the gemmed
merits of the subject. Most probably he will, from the deli
of the revenue, have the power of resorting to as actual ft-
deans of duty, and is any ems it is certain the stets of
the F.:chequer will be seek as M replier futile say objection
to the abolition of the differentia sale es the plea that that
operation might involve a lees.
fitrUntax Emma
Console, which closed yesterday at 911 to 1 for the
4th Feb. were first marked to-day 914, and closed
at 91 to 1. For money the last pries was 90D0 I.
The official business report is as follows :—Three
per Cent Como* for money, 91,1, 904, 911 ; ditto
for account, 914, it ; Three per Cana. Reduced,
91, 904, 91; New Three per Cents., 901, 91 ; India
Stock, 215 ; ditto Five per Cent. Stock, 10451, d ;
Bank Stock, 236.
Indian government securities were unaltered.
Exchequer Bills maintain their improved quotation
of Is. dia. to 3s. prem.
The foreign stock market was heavy, and a
general decline has taken place in the speculative
descriptions.
The only alteration in the market forßank shares
was an improvement of about 10a. in Chartered
Bank of India, Australia, and China. Joint-Stock
Dassault, and Royal Mail Steam shares were flatter.
South Australian Land have slightly improved.
The shares of the financial companies were
dull. London Fivancial closed at 101 to 10}
prem., being ss. lower. International Financi
at 4 9-16 to 11-16 prem. ; General Credit at 24 to
4 prem. ; Mercantile Credit, at 44 to 5 prem. ; and
Hudson's Bay, at 174 to i ex div.
Ocean Marine shares were last quoted to-day
144 to 15 prem. ; Thames and Mersey Marine, li
to b 1 prem. ; Universal Marine, f to 4 prom. ;
Commercial Union Assurance, 34 to 4 prem. ;
North British and Mercantile Insurance, 184 to 1;
and Oriental and General Marine, 2 to 24 prem.
i
English and Swedish Bank shares were last noted
Ito 2 prem. ; Land Mortgage Bank of '
21 to g prem. ; Mauritius Land Credit, Ito 1
prem. ; West India and Pacific Steam, If to 1
prem. ; Australian and Eastern Navigation, 14 to
2 prem. ; Contract Co ration,
ration, 2 31 prem.
Merchant Bank, 4to 41 prem. ; Discount
ration, 44 to 4 prem. ; Consolidated Discounet4l, Tti:
1 prem. ; British and Foreign Contract, Ito 114
prem. ; National Provincial Bread, 4 to 1/ prem. ;
Grand International Hotels, i to 1 ;rem. ; and
Tamar and Callington Railway, 4 to 4 prem.