The Express.
London, England, 1863-04-14 00:00:00

TO TBZ NZ/LBW Or THZ 'TOM LIMAS=

The Committee for General Ps having reason to be-
lieve that attempts have been made to introduce companies
calculated to injure the character of the Stock Exchange,
and the interests of the public, do hereby caution brokers
against giving the sanction of their names to the bringing
out of any company without first making full inquiry uto
the torso jfdss of its objects, and the character of the pro-
moters, directors, 0000semonaires. end other parties ono-
muted with it ; and the committee further give notice
that, should it be proved to them that any
_member of the
Stock Exchange shall have introduced, or dealt in the shares
of, any company brought out foe improper purposes—being
at same time oognisant of. or assisting ID such purposes—
the committee will inflict such penalty as the nature of the
ease may demand.
Confirmed 13th April, 1863.

It is to be hoped that t this resolution will have a
salutary effect at the present time, when so much
laxity of principle appears to prevail in the con-
coction and management of public companies. The
warning must at least be regarded as an effort on
the part of the Committee to prevent a recurrence
of recent abuses. In the interest of the public it is
impossible that too much vigilance can be exercised
with regard to the new schemes which are
multiplied so readily. There have been too
many instances of late in which promoters have
succeeded in getting together respectable names,
and, with their aid, forming public companies for
objects of a far from bond hde character. Should
the public be apathetic and show no demand for
the shares, these parties then begin to practise on
the share market, so as to establish a high pre-
mium. When the public have been tempted by
these means to subscribe, an unfair, partial, or
limited allotment is made, and the organisers of the
affair conclude by compelling persons who have
contracted to deliver shares to buy them of them on
their own firms. The abuse is the more glaring,
because the shares in question have probably never
been allotted at all, in the proper sense of the word.
This is what is commonly called a "rig." The
Committee's resolution of to-day is evidently di-
rected against practices of this nature, and must
be regarded as an act of wise and honourable
legislation.
A; the present settlement the extent of the out-
standing speculation for higher prices in the
foreign stock market has caused loans to be in
request at from 6 to 10 per cent. per annum, the
latter being the rate current on the more specula-
tive securities. On English railways the terms
yesterday were moderate, being as follows on the
chief stocks at the commencement of business:
London Ind North Western
stock.

MkMad
tionation."
Lancashire slid Yorkshire
tisuatioo."
South Eastern ... per sent. " eowninnation."
Great Northern per seat " eantianation."
Ditto A
Caledonian
Great Western
The West Surrey Tanning Company (Limited)
has issued its prospectus, with a proposed capital
of 100,0001., in 50,000 shares of fit each, of which
one-half are to be issued in the first instance. The
board comprises some respectable names. The
object of the undertaking is to purchase the Mill-
lane Tannery at Godalming, where a considerable
and profitable business is stated to have been car-
ried ou by the present proprietor. It is intended

te at once largely augment the buii•lings,
plant, kin, path a irtOW to a consider-
able extensions of the business, for which
the capital of the present proprietor is stated to be
inadequate. For the entire property and plant the
company are to pay a rental of 3001. per annum.
The transfer of the lame is to be made in considera-
tion of an allotment to the vendor of shares in the
company to the extent of 6,0001., which sum is to
cover all preliminary and similar expenses. The
satisfactory feature is thus presented of an absence
of any cash payment. The vendor will act as
manager.
The annexed memorandum is from the Van
Diemen's Land Company :
A letter has been received from the ocenepany's chid
agent, under date the 21st February, tnuonitpieg • small
ample of bleak rad containing gold, which he bad yecelved
from Mr. Emmett from the River klellyer. The ample
fully bears oat all former representatioes. la a letter from
Mr. Ifernett to the company's chief agent, dated Circular
Head, 71h Peccary, of which a espy is seat ever, be re-
ports his operations, and the rnietanoe is as follow. :
That in eoesequeses of hindrances from raise and the
thick naikerwood, be had then still 800 yards to finish of
hie track to the river ; bat " hoped en that, day week to
complete it ready for the pack loos." He adds :—" The
small ample cif gold with black mad I procured
on liatenisy Last. I spent only a few hours on
that day, bat found gold in all parts of the river. Ido not
think I shall have any difficulty In getting the auriferous
rad, se ordered for expenment. It will, however, be very
aborious, as it most be carried, both ap and down the river
for many miles, to the antral camp, where the bonen will
alearga I filly believe that whiearrer an exploration of
the coaatry is serried out, paying gold will be found ; is
much exists in all parte of the Hedlyer. wherever any
gravel or rock is dieturbed." The "laborious work be
alludes to, is that of sending over a • y of the mad in
its rosy state, aa ordered by without being
first la balk by i.
At the twenty-ninth half-yearly meeting of the
shareholders of the Commercial flanking Company
of 8 dney, held at Sydney on the 29th of January,
the • declared a dividend at the rate of 15
per cent. per annum, added 2,0001. to the reserve
fund, making it 6,8001., and carried forward 3,3351.
of undivided profits to the next account. The re-
port was adopted, and certain alterations in the
deed of settlement were agreed to in connexion with
the recent establishment of branches of the bank at
Brisbane and Marlborough, in the colony of
Queenaland.
The committee of the Stock Exchange have ap-
pointed Wednesday, the 15th April, a special set-
tling day in the shares of the National Bank of
Liverpool (Limited), and Thursday, the 16th
in the Bonds of the Italian Irrigation Canal Com-
pany (Canal Cavour). Both are to be marked in
the official list.
The Brighton Railway traffic return shows this
week an increase of 6,1131. over last year, and the
South-Eastern an increase of 3,1631.
The receipts of the Great Western Railway of
Canada for the week ending the 27th March were
14,6911. sterling. being 3,0681. more than in the
corresponding week of last year.
Intelligence has been received of the destruction
by fire at Barbadoes of the ship Star of the South,
from Trincomalee to Liverpool. She put into
Barbadoes on the 6th of January, leaky, and lento-
tally destroyed, with her cargo, on the eveningof the
24th March. The latter included 500 bales of
cotton and 100 tons of linseed.

°STAY EVIIM!G.

Omenls, which closed on Saturday at 92i to
1 for the 7th of May, were first marked this morn-
ing 924, and clued at 921 to I. For money the
last price was 92e to 1. The official business re-
port is as follows :—Three per Cent. Consols, for
mousy, 921 e, ; ditto, for account, 921, ;
Three per Ceuta. Reduced, 91 1, 91, 1 ; New
Three per Cents., 911, 911, 1 ; Bank Stock,
233, 235 ; India live per Cent Stock,
1091 ; ditto Bonds, 16e. prem. ; Five per Cent.
"enfaoed” rupee paper, 1071, 1, 1013, 107 f, 1094 ;
ditto Five-a-itaalf per Cent., 114.
The India Five per Cent stock was firm, at 109
to 1. A further considerable rise has taken place
in the rupee paper, the Five per Cent being last
marked 1081, and the Five-and-a Half per
Cent., 115 e. There were purchases of India Bonds
at Hs. prem. Exchequer Bills were steady at
3s. die. to par.
Although preparations for Wednesday's settle-
ment occupied attention, the transactions in foreign
stocks were again numerous. In several instances
an advance occurred.
Business in the market for bank shares was unu-
sually limited, and scarcely any change occurred in
prices. There were more inquiries for English,
Scottish, and Australian Chartered Batt shares.
Imperial Bank of Turkey were quoted 111 to 12
prem. A rise of about 21. took place in Van
Diemen's Land shares, Berlin Waterworks and
Madras Irrigation were inquired for, while Italian
Irriglrrigation and Peninsular and Oriental new were
ation

Ocean Marine shares closed to-day at 911 to
1 ':em. ; Universal Marine, 1* to 11 dis.
Thames and Mersey, 2 11.16 to 2 13-16 prem. ;
North British sad Mercantile, 16 to k ; Commer-
cial Union, Ito * prem. ; London and Provincial
Marine, * to i dia. ; and Oriental and General
Marine, 1 to II prem.
The closing quotations for shares in new under-
takings to-day were as follows :—British and
Foreign Marine, le to 1 prem. • Cannes Hotel,
2to 3 prem. ; Petroleum Trading, 17 to j prem. ;
Empire Marine, to prem. • National Bank of
Liverpool, 4*tc:6 prem. ; Westminster and South-
wark Bank, * to 1 prim. ;_ Mercantile and Ex-
change Bank, 1 to 0* dis. • Union Marine, 1* to 2
pram ; Panonia Leather Cloth, Ito prem. ; and
New Theatre, * to I.* prem.
Canada Government Six per Cents. were again
weaker.