The Express.
London, England, 1863-05-19 00:00:00

MOTET ZiILICET.-(T1116 DAY.)

Two °Two&

The stock markets are devoid of animation to-
day. The funds remain at yesterday's prices.
English railway stocks in two or three instances
have improved, but the foreign stock market
is decidedly heavy, and a rather material reduction
has taken place in some of the more speculative se-
curities, such as Greek, Mexican, and Spaniel'
Passive.
At Paris to-day, according to Mr. Reuter's
telegram, the Three per Cent. Reuter opened heavily
at 69fr. 35c., being per cent. lower than yester-
day afternoon.
Confederate Loan scrip is rather worse, at to
prem. ; and Italian at 1.1 to 11 prem. That of
the Turkish Loan, on the other hand, is slightly
better, at If to 2 prem.

Consols are now quoted 934 to 4, cum div.,
for money, and 92 to 4, ex div., for the ae-
count (June 9). The official business report is as
follows :-Three per Cent. Consols, for money,
934, 4,4, 4 ; ditto for account, 924 ; Three
per Cents. Reduced, 914, 4 ; New Three
per Center, 914, 4 ; Thirty Years' Annuities,
1886, 14 15-16 ; India Five per Cent. Stock,
1104, 110 ; ditto Four per Cent. Debentures,
1004; ditto Bonds, 15a, 18e. prem. ; Five per
Cent. " enfaced" rupee paper, 107 ; Bank Stock,
234 ; and Exchequer Bills, par, 4 dia.
The foreign stook market is heavy. To-day's
telegrams have caused a fall of Ito 1 per cent. in
Greek Bonds, which are last marked 314 to 314.
Mexican and Spanish Passive Bonds and Certificates
have all given way, and there is less enquiry for
New Grenadian securities. Turkish and most other
foreign stocks are fairly supported. Some of
the present quotations are annexed. Turkish
1864 Loan, 884 to 894, being slightly better ;
ditto 1858, 70 to 4 ; ditto 1862, 71 to 4 ; the Con-
solidia, 514 to 4, ex div. ; Peruvian Bonds of 1862,
884 to 894 ; and Venezuela Six per Cents.,
56 to 57, being again rather firmer.
Transactions are recorded as follows .-Brazilian,
1843, 1024; ditto, 1852, 1858, 1860, 944 ; Dutch
Two-and-a-Half per Ceuta., 654 ; Egyptian, 1004,
100 ; Greek, for account, 314, 4, ; ditto Coupons,
144, 4 ; Italian, for account, 714 ; ditto Maremmana
Railway, 79, 4 ; Mexican, for account,
364, 4 ; Moorish, 96 ; New Granada, 16/4
4, ex div. ; ditto Deferred, 104, ex
div. ; ditto, Land Warrants (Hectares), 84,
4, 4 ; Portuguese, 1862,d
494
; Russian, 1822, 95 ;
ditto 1850, 904 ; ditto 1862, 92i, 4,
4, ex dlv. ; Sardinian, for account, 88 ;
Spanish, for account, 544 ; ditto New Deferred,
484 ; ditto Passive, for account, 344, 4 ; ditto
Certificates, 124, 4 ; Turkish, 1858, for account,
704 ; ditto 1001. Bonds, 74 ; ditto 1862, for account,
714, 4 ; Venezuela, for account, 24 ; ditto 1862,
564, 4, 56, 4, ex div.
The shares of the International Financial Society
and General Credit and Finance Company of Lon-
don are both rather lower, the former at 6 to 54
prem., the latter at 24 to 24 prem. Those of the
London Financial Association are steady, at 4 to
prem.
The discount market, though characterised by an
entire absence of pressure, continues in a rather
unsettled condition.
The half-yearly drawing of Bonds of the Turkish
Loan of 1862 took place yesterday at the Ottomaa
Bank, in presence of the proper authorities. The
numbers of the bonds drawn are expected to be
published to-day. They include the following :
25 Bosda of £l,OOO each mom
60 „ 500 „
300 ~100 „

Total tBO,OOO
The sum applicable for the purpose (80,0001.) is
equivalent to 1 per cent. on 8,000,000/. of stock,
the sinking fund being 2 per cent. per annum. As
the bonds are to be paid off at par, holder' will
receive a virtual bonus of about 29 per cent. as •
compared with the present market price.
The steamer Pent will take to-morrow, 154,7651.
in specie for the East, of which 22,555/. =gold and
the rest silver. The bulk (126,6101.) is for China.
We have received a copy of the prospectus of the
Public Works Credit Company of London and Paris
(Limited). This undertaking possesses an Anglo-
French board, and is to have offices in London and
Paris in the first instance. Of the English names
the best known are those of Mr. David Ogilvy, a
director of the Great Western Railway, and Mr.
John Parson, deputy-chairman of the Metropolitan
Railway. The prospectus states that this company
" does not propose to embark in the gigantic financial
operations suggested by the formation of recent
companies in London, bet to avail itself of the
markets opened up by these oolossal institutions."
It is intended to form an organisation for prepar-
ing the details connected with public works, to
arrange surveys, specifications, estimates, and re-
ports, to negotiate the grant of concessions, and to
organise companies for carrying them out. With
this view a preliminary agreement has been come to
with several continental bankers and public com-
panies, as well as with the British and Foreign
Railway Plant Company. The directors are not to
be entitled to any remuneration until the share-
holders receive a dividend of 6 per cent. per annum.
The capital is fixed at 200,000/. in 201. shares, but
only one half is to be issued at present.
Another new undertaking is the Royal Alhambra
Palace Company (Limited). The object is to
purchase, on terms described as advantageous,
the Music-hall in Leicester-square known by
the above title, the present proprietor wishing to
relieve himself from the responsibility incidental to
the sole management. A portion of the purchase
money is to be assigned to him in shares. It is
proposed that the concerts shall be divided into
two parts, and that the first part, which is to ter-
minate at an early hour, shall comprise high class
music only. It is mentioned that an engage-
ment is pending with Mr. A. Manna, of
the Crystal Palace, with a view to his appoint-
ment as conductor of the orchestral concerts.
The ball, which is capable of holding
upwards of 6,000 persons, is to be improved in vari-
ous ways, and the directors promise "a handsome
and immediate dividend." The capital proposed is
100,0001., in 20,000 shares of 51. each, of which
10,000 shares are to be leaned in the first instance.
The Brighton Railway traffic return shows this
week a decrease of 5271. compared with last year. ,
A call of 21. 10e. is to be paid on the B shares
in the Kent Coast Railway Company by the Ist of
June.
The directors of the Great Barrier Land, Harbour,
and Mining Company have received despatches
from their manager in New Zealand, of which the
following are extracts :
I have much pleasure in informing the directors that I
have discovered a quantity of kauri growing in such a pod-
Con at the head of the Kuirriki stream that it will be prac-
ticable to drive it down that stream for the use of the saw-
mill. Pressure of other work has prevented me from fully
exploring the locality, but Dixon estimates the quantity of
kauri at from 500,000 to 1,000,000 feet. This ill be a
source of income eventually upon.which we have never cal-
culated. I will report to you again when I have thoroughly
explored the creek. With reference to the operations at
the Wairthi I have to report that under Dison'm contract
about 150,000 feet have to this date (28th Neb.) bees mea-
sured and placed in the creek ready for Boating down. It
was estimated that he would be able to put into the weak
100,000 feet per month from Jan. 1. He has exceeded that rate
by 150,000. Mr. Sharp, who has bad great experience in the
erection of saw mills in this provisos during the last six or
seven years, says that our mill will be three times is large
and will have three times the power of any mill in the
country. Ths retail price of timber in Auckland is about
18s. to 17s. per 100 feet superficial, and broad boards have
been mold by auction at 20s. per 100. I em informed also
that a lot of KM feet wee sold by auction the other day
as 18s. par 100 (the price hitherto being 125.t0 15• per 100).
This quantity would scarcely be a fortnight's work for our
mill. I think that prices am not likely to rule much
lower, because every_ year the quantity of keen is diminish-
- lee, whilst there will probably be en increase rather than a