The Express.
London, England, 1864-09-15 00:00:00

MONEY MARKET.-(7111S DAY.)

Two o'CLocs.

The stock markets today are firmer, the un-
favourable rumours which obtained circulation

yesterday afternoon remaining quite without
confirmation. The funds have experienced a
recovery of per cent. In the other markets
a firmer tendency is also apparent, especially as
regards home railway stocks, but business is
limited, the completion of the settlement engaging
attention.

The demand for money continues moderate, and
the supply large. The rate for good three months'
has to-day is unaltered, at ei to 9 per cent. In
the Stock Exchange the charge for short loans on
home government securities is rather higher, at 41
to 4 per cent.

At Paris to-day, according to Mr. Reuter's tele-
gram, the Three per Cent. Renter opened at GGfr. 70c ~
being sc. lower than yesterday.
Consols are now quoted Ka to 88 for money,
and 88/ to for the account (Oct. 11). The
official business report is as follows :—Three per
Cent. Consols, for money, 871, 88, 871, 88; ditto for
account, 884, ; Three per Cents. Reduced, 861,
; New Three per Cents., 86/, 4,4, ; An-
nuities, 1885, 14/ ; India Stock, 210 ; ditto
Five per Cent. Stock, 103/, 104 ; ditto Bonds, 20s.
dia. ; Exchequer Bills, March, ss. dis. ; ditto June,
255. dis.

Foreign stocks are quiet. Greek Bonds are
flatter, at 231 to 241, and Mexican firm at 27g I
to t. Spanish Passive Bonds are also firm at
32t tot ; and the Certificates, at 14 to t. Turk-
ish Consolidee are unaltered at 501 to 1;
and Confederate Bonds at 821 to 831 t.
Transactions are recorded as follows :—Brazilian,
1852, 1858, 1860, 841; ditto, 1863, 851; Italian,
for account, 66 ; Mexican, for account, 27t,
; ditto, 1864, 251 ; Portuguese, 1856, &c.,
47 ; ditto, for account, 461; Russian, 1862,
871 ; Spanish Passive, for account, 3n, 32 ;
ditto Certificates, for aooount, 141, 14 ; Turkish,
1858, 100/. bonds, 71, ex div. ; ditto, 1862, for
account, 69j, t, 70 ; ditto 100/. Bonds, 70, 691 ;
Venezuela, 1864, 451, ex div.

International Financial shares are now quoted
to prem. ; General Credit, 21 to prem. ;
London Financial, 7i to 8 prem. ; Imperial Mer-
cantile, 2; to 3 prem. ; Hudson's Bay, 161 to 16 ;
Anglo-Egyptian Bank, 11 to Itl prem. ; Imperial
Mexican Railway, 1 dia. to 1 prem. ; Ottoman
Socio Std Gin‘rale, 11 to prem. ; and Credit
Foncier and Mobilier of England, 2 to prem.
The amount of gold sent into the Bank yesterday
was again unimportant., being 1,600/. About
100,000/. in American eagles, by the West India
packet, is expected, however, to be taken to that
establishment during the next few days. The
recent remittances from Melbourne will probably
also remain here, in the absence of demand for
abroad.

The steamer Tasmanian, from the West Indies,
has brought 437,5001., of which 242,0001. is gold
and 195,5001. silver.

The Great Eastern Railway traffic return shows
this week an increase of 2,059/. over last year ;
the Great Northern an increase of 3,2451. ; the
Great Western an increase of 5,5651. ; and the
London and North Western an increase of 10,3301.
The following is the report of the liquidators of
the Unity Joint Stock Mutual Banking Association,
to be submitted at a special meeting of the share-
holders to-morrow. Of a paid-up capital of
179,1961., it appears that 136,4641. is found to
have been irrecoverably lost—a fact to which it
may be useful to give prominence at a time when
the disposition to form new banks is so strongly
shown :

I 16 ,Anglo.llencan Miag
I 16 I Australian
16 I Anstrallaaktialih...— •
16 iDarilnefaterworuldi
6 Bombay Gas (
60 Britiah American Lad
81. & & I. Yee. Tel. (1.))
20 British Indian Tea (L )
14
10 eaCannaadadlanLoa°wa nPanar(L)
ID ,Ceylon
I II 'City of LoWna.CZProp.a.
10 .City Meal (Um.) ~
10 !Cam. otAbicanMer.(L)
BO IConsunerelaltinlon(lna,
ISO Vasoolidatod (LI
I 16 :Continental Un.GaaiL
100 'ConatraciCorporatlo a(
iII4II,P4•LTiP.4
60 Credit Fonder
60 I Do. of Mauritius (L)
SO Credit Mobilise
OL 1017 Mal Palma
U. I Do. Preference
fil Do. p. st. Perp. Deb
1100 Libeountilorporatlea(L.
60 B. Indian Financial (L)
20 E. India Irrig.tion, Ac.
I 30 IBaplismOomit Trd.(L
84. ILI•cag. iFI4 T•l•draPb
6 B and Am.
C
I 60 I Inglish&Foreli=
100 'gni dloottishltarin.iL
00 Finandal Corporation.
10 , Financial Discount (L)
I 111 1 IreeeM. Warehouse (L.
60 'OeDlviu'a Lfml
119 D.Medit&lin.of Loa.(L
1$ Gan. Mesa Navigable&
60 Homo& 3olonlal Ae.(L)
111 Budnon'alay
10 'lmp &Mer.Cdt.Ass. (L)
liners Carrying (IMai
. 26 Rnteenal Irinan.Sue. (L)
ID InternaLlaad Credit(L
I 100 111 Ilt Duo
4p. Mg. (Cm. Cm.)
. c. r.
23 JointiltockDiseount(L)
60 Land beenrlties (Um.l
26 Load. African Trag
0$ Lond.andOdedow MIL
Lood.testrict Telog
I IS Load. Man. Amo. (L,
60 Do New
' e Load. G. Omnibus C. (LI
SO !loud., Ihllaa, nfre 114 m.
10 , Loud. Mr. Discount(L)
SI load ProdocialMarims
20 Iladrea lreig.. & Canal
Do.
16 'Marine Inveatm,nt!L,
20 'Mauritius Land,etc.(l.)
10 ' Medit. 'Men. Tel. (L)
541 Iron Works
10 Natal Land & CoL C. (L)
101 Natraaai DM Con IL!
, 60 National Financial (L)
100 , National steam
10 NerbuddaCoal &L ')
20 ! Do. New

lat 104
ID IS
1814 444
8 84
g 6SO
40 46
1 Of Ms
Is m
4 iNeiveal
*

50.000 II
187,176/. 88
40,000, 80
3°,2201 2
20,0221
80,000' 22
10.0423 10
10,000 60
100 000 1
60,000 1
40,000 10
23,000 10
10,000 60
10,000 6
11,605 10
8,1/01 8
030,0001, Bl
10,000 60
18000, 60
17,000 10
MN? 60

I N.Zealand TAtLoan(L.
N.Drit.Aaatraladan(l.)
N.Brit.atlf croon. 10. (L
Novadeotiao.andL 1. ,
i Do. do.
(Omen Marine loam
(Oriental Vermeer:UM (
,Orimittl Mandel 1/01
Oriental Gas (Limited]
Do. New
'Orient! alandSteam(L)
Otago d Stlilandlorest.,
'Ottoman rinaselat ! L.+ '
Ottoman One (Unified
ranantai. IL ateam(L)
Do. do .... ,
PeellDv.landt Palm Q 1)(
'Peninsular & 0. steami
Do. New
Trada L. R. M..(L 1
,r. ._., ,
„....,_
1

SI P.
Oad
Lim
1 dla par
20
9 sco
2 I dla
8 9pm
82 8a
102 111
108 112
par 1 pm

RON
4.lii.
19.750

S soul
1 lepal
102 106
le le

idll bgal
idis Par

44 4 444
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rl3
131161iPin
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I 1;0. NA,
ato J. City Iraprov.
I Ditto ditto .

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1. 2

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7 7ipal
Si Si
II 1 dig
3dM piz,
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19 10

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tars til" I
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it 40=1

The accounts of the bank, showing the amount received and
expended by tbeboard of liquidatorsuat presentconstituted,
are submitted to the shareholders with this report. The
sash account studs as f ollows : —Cub received,lo,s2l/.88.41.;
cash expended (including intstanding claims, 856/. 14e. 6d.),
1,1171.185. 2d.; balance of cash in hand, 9,4031. 10s.
The known aid estimated outstanding liabilities animal to
1,066/. 10e. 7d. The cash balance as above will allow a dis-
tribution of 3/. per share to the proprietors, and leave a '
balance in hand of 7631. 10e. 2d.; the liquidators recom-
mead such distribution, after paying which they believe they '
will be able to collect sufficient to make a farther
return of about 21. par share. Preliminary proceedings
have been commented against two guarantee societies
'on their policies, guaranteeing the bank against loam
to the amount of 4,0001. T%e claims are deemed'
valid and equitable. Should the societies refuse a
settlement the law must decide the question. At various
times since the bank's commencement there have been
drawn from its funds as "directors' fees ^ the sum of
2,9871. 7s. The majority of the board of liquidators decided
such to be contrary to the articles of association. and cones-
' to
, quently an amount due the estate by its recipients—the
minority differed in opinion, and it was determined by the'
majority to submit the matter for the consideration and
decision of a general meeting of shareholders. The clause
No. 56 of the article. of association bearing on the point is
as follows :—" That it shall be lawful for any annual ge-
neral meeting of the members of the association to allow
such remuneration, being not less than at the rate of 2/. 2s.
for each attendance to the directors for their pest services,
or to fix inch sum as shall thereafter be paid an-
nually or otherwise to the directors collectively
for their services, as such meeting shall think St."
The directors drew out the following sums without the
matter having been mooted at the general meetings, or par-
ticularised in the respective balance-sheets, consequently
without the knowledge and consent of the ahareholden, as
required by the articles of association. by which all are
equally bound, viz.:—ln the year 1855, 478/. 165.; 1856,
1,655/. 17a.; 1857, 2991. 16a.; 1837, 3121. 18e.;1862, 2501. ;
total, 2,9871.7. The minority contend that the intention
of the framers of the deed of senociation was that the direc-
tors should be paid for onerous services rendered, agreeably
to a rate therein specified. That these= in question were
taken out under this impressioo, and that the adoption of
the reports and accounts in which they were included,
though rot specified, was virtually an agreement thereto by
the shareholders. This meeting is asked to decide which
view of the ease it will adopt, sod the settle the question
whether or not the recipient' of these fees shall be called
upon to repay them. _ _ _

I! T_dia

Par-
oN
ID
P,
90 79
173 1
19 17 pm
2_ Sz,
21 311°ml
t die par
1 414151
79
40 48
79 01
IS 20 pm
13.114
13 30
8 9
111"
par
94 96
130 125
1 42
13
1r

iiisi
7i

A general meeting of the Dutch Rhenish Rail-
way Company is convened for the 28th inst., at
Utrecht, and will be made special to consider the
three following proposals, viz. :
L To prooeed immediately to the eoustra•.tios tied the
working of a jaoction line between the stations of the Dutch
Rheuieh Railway and of the Dutch Railway (Hague lioel at
Rotterdam. _ _

aoi-80

ikaiii
000,0001.
•0,000
20,00,
10,000

2. To apply for a ooacessioe for the °Destruction and
working of a railway from Gouda to the Hague and
Schavenies.
3. To apply for a concession for the construction and
workingg of a abort junction IMe between Breakelea and
Harmeles.
The share certificates of the Imperial Mexican
Railway Company will be ready for delivery on
Monday next.
- - - -

ioo
st.
60
so
60

!Rossi MMlStosam.
Scot. A oat ra. Invest. ',L.
Ronk Knight.
soc.Plosa..Vegypto(L.)
S. Atrkss hi. (L.'

With reference to the market for American se-
curities, Mr. E. F. Satterthwaite reports as follows:

There 'continues to be so active market in Loodoo for
American securities, the chief dealings however being me-
laid to United States 5.20 Broads, Illinois shares, sod Erie
shams. The 5.20 Bonds appear to be absorbed as fast ars
imported, and aloes at an advance of one per cent. on lad
wades quotation. As the final call of 10 dole. on Illinois
shams is due on the 26th inst., the future dealings will be
almost entirely in paid-up shares.

WEDNESDAY EVENING.
Console, which closed yesterday at 884, "buyers,"
for the 11th October, opened this morning at
the same quotation, and closed at 88 to For
money the last price was 874 to 4. The official
business report is as follows :—Three per Cent.
Consols, for money, 881, 4, 874, 88 ; ditto for
account, 884, •, Three per Cents. Reduced,
88j, 4 ; New Three per Cents. 88i, 4,4, ;
Bank Stock, 244, 242 ; India StLek, 212 • ditto
Five per Cent. Stock, 104, I, 1034 ; ditto Honda,
28e., 20s. din. ; Five per Cent. "enlaced" rupee
paper, 1011.
PREFERENCE SHARES. The India Five per Cent. Stock was firm.
Great Notibens, 5 per Gent, HO. India Bonds were desk in at 28s. to 20s. dia. Ex-
Louden, sod Brighton Per coot guaranteed stock. 129. chequer Bills were unaltered, the March being
Chatham, and Dover, 5 per mat' Prat, 97. rioted 16a. to bs. dia., and the June 25a. to 18e.
FOREIGN RAILWAYS.
Bahia and Sac Francisco (Limited), Sunrnniend 7 Per i Most of the speculative foreign stocks were flatter
cent, 151. in the afternoon. Mexican Bonds fell }per cent.,
Recife and San Francisco (Limited), guaranteed 7 per Greek ,•
sun, 151. Greek coupons and Spanish tee per
Su Paolo (Limited), guaranteed 7 per cent. (DX paid), Cents. 4, Turkish Coneolidde 4, and Russian stocks
lei. *to 1 per cent. Spanish Passive Bonds advanced

140
460.0001,
37,500
100,000
1000
00,000
00,000
60,000
25,.00
23,000
10,000
00,000
10,000

.WotaraatrallattLZ6i
It. Submarine Telegraph
20 Tel Construe.tt !lanai
10 Thames& Mersey la.
10 Trost &Agency...l2Mo. LI
10 T. A L Oct of U. Canada'
6 Illnlted K. Ulm. Co. (L)'
SO
I Unlvsra Marlon Ina .1 .
10 • Upper A46=141(111
10 I Ditto
SO Van Dleraelea Lod
10 warrant PlaancelLlts
60 Westlnctia&PsallkS L

rdia—parl
41 6pm
I Ps'
Par Pfs
1 0,t41.;
I ipm'
2 pm:
14 17 i

i 4 16 i
10 IWm par
10 2 2i pun

iu the morning, purchases taking place for the new
account as high as 321, but the closing quotation-
-311 to 32k—was only k above that of yesterday.
The Certificates also improved in the morning, and
relapsed to yesterday's quotation in the afternoon.
As regards both these classes of paper the impulse
rested with the announcement from Madrid of the
I resignation of the Mon and lfalaverria ministry.
In the market for bank shares there was au ad-
vance in Alliance, Imperial, London Bank of
Mexico and South America, Union Bank of Lon-
don, and Scinde, Punjaub, and Delhi Bank. The
shares of the Bank of London sad London Bank of
Scotland were quoted rather lower.
Hudson's Bay shares were last quoted 151 to 161,
being steady, and Egyptian Trading 1 to 11 prem.,
being dull. Ocean Marine Insurance shares have
improved. Warrant Finance, Nova Scotia Land
and Gold, and Quobrada Land and Mining, were
fiat.

The shares of the financial companies were
flatter, declining in moat cases about fe. per
share. The closing quotations are annexed, viz. :
—lnternational, 3 5-16 to 7-16 prem. ; General
Credit, 21 to 4 prem. ; London Financial, 7* to
8 prem. ; Imperial Mercantile Credit (ami4s-
mated), zg to w prom. ; Credit Mobilier, 8 to B+l
prem. ; and Credit Fancier, 8 to 8* prem.
The closing quotations for shares in new un-
dertakings are subjoined, viz.:—Credit Fonder
and Mobilier of England (amalgamated), nto 3/
prem. ; AnglmEgyptian Bank, lj to 1 prem. ;
Imperial Mexican Railway, I die. to *prem. ; Otto-
man &Mitt; Ga6rale, 11 to 11 prem. ; Ebbw
Vale Company, die. to par ; Bomber Iron
Works, 3 to 2 din.

MINES.-(THIS DAYJ

Two o'CLocc.

In the mining market to-day attention is almost
exclusively directed to the fortnightly settlement,
and very few variations have occurred in quotations.
East Grenville shares are quoted nto b ; Great Vor,
29 to 30 ; 'Wentworth Consols, 6 to 8 ; and Hallen-
beagle, to 4, being better. No business is
officially recorded in the Stock Exchange.
Foreign and colonial mining shares exhibit no
change.
The second annual meeting of the Fortune Cop-
per Mining Company of Western Australia (Limited)
is called for the 21st inst.