The Express.
London, England, 1863-01-08 00:00:00

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rONEY MARKET.-(THIS DAY.)

Two o'CLocx. I.
The funds to-day are firm, and the late rise is
fully maintained. Consols are now quoted for the
February settlement 1-16 to 1 per cent. higher than
they closed yesterday. This is settling-day. I
English railway stocks are rising. Foreign seen-
ritiee remain firm, with a favourable tendency.
At Paris, to-day (according to Mr. Reuter's tele-
gram), the Three per Cent. Renton opened at
70fr. 65c., being sc. better than yesterday.
Consols are now quoted 931 to for:money, and
93/ to 1 for the new account (Feb. 5). The official
business report is as follows :-Three per Cent.
Consols, for money, 931, ; ditto, for account,
931 ; Three per Cents. Reduced, 93k, k; New
Three per Cents., 931, ; Red Sea Telegraph,
21 15-16 ; India Five per Cent. Stock, 108};
Four per Cent. " enlaced " rupee paper, 96 ; and
Exchequer Bills, 12.., Be. prem.
With the exception of Mexican Bonds, which
are flat, foreign securities retain a favourable ten-
dency. Greek Bonds, Italian Five per Cents., and
Spanish Certificates have improved ; Spanish
Passive Bonds and the New Portuguese
Loan are firm ; and the new Egyptian and Russian
loans steady. The Turkish Loan of 1854 is
quoted 84 to 85 ; that of 1858, 711 to 1, being
firm ; that of 1862, 68 to 1, being
better than yesterday ; and the Consolida, 391
to 40, showing a further recovery of Venezuelan
scrip is dull, at If to 11 die. The Peru-
vian Loan is quoted 891 to 1, ex div.
Transactions are recorded as follows :-Brazi-
lian, 1011, 102 ; Egyptian, 951; Greek, 181;
ditto Coupons, 61; Italian, for account, 701,
1,1, ex div. ; ditto Maremmana Rail-
way, 74, ex div. ; Mexican, for account, 311,
1 ; New Granada, 121 ; Peruvian, 1862, for
account, 891, ex div. ; Portuguese, 1853, for
account, 471, ex div. ; ditto, 1862, 471,
ex div. ; Russian, 1860, 94 ; ditto 1859, 611 ; ditto
1862, 961, 96 ; Spanish, for account, 54, ex div.;
ditto New Deferred, for account, 461, ox div.; ditto
Naive, 241,1; ditto Certificates, 91,1,1; Turkish,
1858, for account, 711, 1 ; ditto 1862, for account,
68, 63, 681, ex div. ; Venezuela scrip, 11 dia.

Foos o'Ciaez.

Consols are rather lase firm, at 931 to , both for
money and the account, owing principally to the
withdrawal of 160,000 sovereigns from the Bank,
chiefly for Brazil.
The discount market remains easy, with a mode-
rate demand. In occasional instances transactions
take place in good bills at a fractional reduction
from the Bank of England minimum. At the
Bank the applications continue to be on a very
moderate scale. The dividends are payable to-
day.
The Edinburgh has arrived from New York with
69,0001. in specie.
The bidduigs for 60.00.000 rupees in bills on
India took place yesterday at the Bank of England.
The proportions allotted were to Calcutta,
35.90.000 ra.; to Bombay, 20.50.000 rs.; and to
Madras, 3.60. 000 rs. The declared minimum price
was as before, via., Ls. 111 d. per rupee on Calcutta
and 2s. on Bombay and Madras. The applications
within the limits were for 180 lace. 'renders on
Calcutta at Is. Ili& wilt receive about 45 per
omit., and above that price in full ; on Bombay all
above 25., and on Madras all at and above 2s. will
receive in full.
By authority from the Colonial Secretary of
State, the Agents General for Crown Colonies will
receive tenders until 1 p.m. on Thursday, the 15th
inet, for Six per Cent. Debentures of the govern-
ment of Vancouver Island to the amount of 40,0001.
These debentures will be redeemable in London on
the 15th January, 1880, and both principal and
interest constitute a fiat charge on the general
revenues of the colony.
It is notified that an auction will take place at
Madrid on the 31st inst. for the extinction of the
Three per Cent. Consolidated and Three per Cent.
Deferred debts, the amounts applied for that pur-
pose being's follows :—"Beals Vellon 4,193,370 for
the acquisition of Three per Cent. Consolidated
Interior and Exterior Stock. Reale Vellon 10,673,640
ditto Three per Cent. Deferred Interior and Ex-
terior Stock, making a total of reels 14,867,010(or,
say, 148,0001. sterling). The commission in London
will receive tenders until the 22nd inst.

An important undertaking was announced yes-
terday afternoon, under the title of the British and
Foreign Marine Insurance Company (Limited).
The capital is fired at 1,000,0001. (with power to
increase to 2,000,0001.), in 50,000 shares of 201.
each, but the first isms is to be limited to 25,000
shares. This project is brought forward under
auspices of an unusually respectable character, the
board comprising already no lees than 23 mercan-
tile names well known in London and Liverpool.

Another new undertaking is the Cannes Hotel
Company (Limited). In this instance also the
directioa is of a character presenting all that can
be desired in a project of this sort. In the list of
the members of the board we notion the name of
Mr. Thomas Higgs the manager of the highly sic •
easeful Great Western Hotel, at Paddington. The
object of the company is to supply a want long felt
by erecting a large hotel at Cannes, on the French
shores of the Mediterranean--a spot celebrated for
its salubrity, mild climate, and splendid scenery.
A fresh prospectus has also been issued by the
Universal Private Telegraph Company, an under-
takiug incorporated by special act of parliament.
The direction is composed of a number of gentlemen
ansinent by their scientific attainments or mercantile
position. The chairman is Mr. Alderman &de-
-1 mous, DLP., and the deputy chairman, Mr. John
Henry Dillon. The object is to work Professor
Wheatatone's remarkable and valuable patents,
and thereby establish " a private system of inter-
communication between banks, docks, manufac-
tories, merchants' offices, public offices, police sta-
tions, fire stations, railway stations, and other
public and private establishments within the me-
tropolis, and in the manufacturing districts, and
also between the principal cities and towns in the
United Kingdom." The system proposed is in
successful operation in London and Glasgow,
and is now to be extended. Of the capital
of 190,0001., in 7,600 shares of 251. each,
upwards of 2,000 have already been allotted, and
201. per share paid upon them. It is now proposed
to issue the remainder. It is mentioned that "the
accounts of the company, made up by Messrs.
Alison and Waddell, public accountants, to Sep-
tember last, exhibit a profit sufficiently large to
enable the directors to declare a dividend of 5 per
cent. net, subject to the approval of the general
meeting, to be held on the tad of February, 1863."
The directors express themselves as justified in
looking for "a minimum net dividend of 10 per
cant."
The London and North Western Railway traffic
return shows this week an increase of 3,3191.
The result of the litigation between the Commer-
cial Bank of Canada and the Great Western Rail-
way Company of Canada, and which has been
decided in favour of the former company, is given
in the following abstract from the Montreal herald
of the 22nd Dec. :
Tao GREAT Wwircall RAILWAY AND 71(2 CONYIRCIAL
BASK —ihIPORTAXT DECISION —We leg= by special tale-
gram from Tomato on Saturday evening, that is the ma
of the Commercial Bank r. the Great Western Railway, in
appeal, the judges gave their decision in favour of the bask
to the fullest extent. The court was unanimous. The im-
portance of this decision will be readily understood by all
who are acquainted with the ease, about a million of dater.
being involved. The Bank is the first place brought an
action against the Great Western, before the Assize Court
at !Clayton, for the recovery of a certain loan. Judgment
was given in favour of the plaintiffs. and the Great Western
then appealed the use. The beach of judges have now con-
firmed the verdict of the jury. With the two decisions in
favour of the Bank it is hardly probable that the London
directors of the Great Western will think of taking the case
before the Privy Council, where the previous judgments
would most likely be eonllziatid.

The annexed circular has been issued to the share-
holders in the Union Bank of England and France
(Limited.)
83, Wig Williametren, Leedom, January 3,1663.
Is handing youortun the accompsaylag nodes, yaw dizeetenu
tam me oppity of re portaig e proven they have
reeds la -the slain of the bentth They len sseursd,
on favourable tense, the leases of anted and eesvesiset
premises imam at the shove addnee ; and, in Paris,
at No. 6, Boulevard de Oapardass, facing WU* do Is Pali.
The situation of these premises is all that could be de-
sired to give the bank a favoerable positions fee biseisen.
The mangers for the Leaden Beak have been espied ;wad
the appointments for the eta of the Paris breach are se
nearly concluded es to laid your directors to expect coafi-
decay to be in a poetics to begin active operatiom in both
cline by the Ist of Fabnary. Your directors have great
seitidection in stating that arrangements have been eon-
eluded with the Social.' de Credit Indintrie at Paris, by
which the first openness of oar bank in that city will be
conducted in Intimate "Ml asa with that well hewn am-
pony, thereby warn; an immediate and ostensive busi-
ness. Mr. William Gladness (whole one of Glen directors)
will t their establishment at our London board. A
g meeting of shareholders will be convened at an
only day, to approve the artieles of association, which are
now in the minter's hands. The samiranom of support that
your directors have received front all quarters gin them
very emfidest anticipations of the MONO of the under-
taking.—By order of the board,
J. W. Mourn., Secretary.
The half-yearly meeting of the Australian Trust
Company is called for the 30th inst.
We are requested to state that the share list of
the Anglo-Portugueee Bank will be closed on
Thursday, the 15th inst.
A petition for the winding-up of the Keynsham
Blue Lies Lime and Cement Company (Limited) is
to be beard before the Master of the Rolle on the
17th inst.
With reference to the market for American secu-
rities, Mr. E. F. Satterthwaite reports as follows :
We have had during the met week • steadily impeov
mesinet in London for Americas securities ; Me r
demed Ms been foe Illinois Mares, sod far SchIITIIIi(7I4
both common end preferred. A steady byname bee been
dose I. Mimeo sad Great Western Bonds ; they have mi-
nimal per met. There is a good inquiry for Mien Celi-
na Comet:notice Beads, dee for Penesylvania Central First
and fisend Mortgage Hoed& United States Five per Cate
bambino mac freely offend, and have given way from 64
to 624, Virginia Six per Cent. Bonds continue in request,
and theme n a renewed demand for the Five per Cents.
Sterling Bonds el this State, which have tonehed 80, carry-
ing onexhie coupons.
The Havelock has arrived from China with
604,1101 b. of tea.

WIDNISDAT EvErurn.

Consols, which closed yeeterday at 921 to 93,
ex div., both for money and to-morrow's settle-
ment, opened this morning at 93 to and
closed at 931 to 3-18. For the new at-
oonut (Feb. 6) the last price was 93 3-16 to 1.
Owing to the very moderate amount of stock afloat,
the " continuation" at the close of the settlement
has declined to 1-16. The official business report is
as follows :—Three per Cent. Consols, for monet
921,93 t, 93, 4, 93, ex div. ; ditto for account, 92 ,
93k, ex div. • Three per Cents. Reduced, ,
93 ; New Three per Cents., 921, 93, 1, 93 ; Five
per Cent. Annuities, 10ek ; Tbirty Years Annui-
ties, 1885, 161-18 ; Bank Stock, 238 ; India Five
per Cent. Stock, 1081, ; ditto Four per Cent.
Debentures, 100 k, ; ditto Bonds, 28s. prem. ;
Four per Cent. " enlaced " rupee paper, 96} ;
ditto Five per Cent, 1051, 4, 4.
Reduced and New Three per Cents. are now
quoted exactly the same as Consols. They are
really, however, per cent, cheaper than that stock,
inasmuch as the quotation for them includes three
months' dividend.
The India Five per Cent. Stock continues in
demand, and being scarce has again risen per
oent., closing at 1084 to 109 ex div. The rupee
paper was likewise in request. India Bonds were
quoted 26a. to 28e. prem., and Exchequer Bills,
Bs. to 12s. prem.
Foreign Stocks were again in good
.demand to-
day, but the actual improvement in prices was not
of importance, except as regards Turkish Consolid6s,
which have recovered to the extent of 4 per cent.
In the market for bank shares the tendency of
prices is still decidedly upwards. Bank of London
shares have risen to 101 to 103, it Win rumoured
that an increased dividend will be darecl at the
coming meeting. The improvement extended to
City Bank, Alliance Bank, London and Buenos
Ayres Bank, Chartered Bank of British Columbia,
and London Chartered Bank of Australia. Oriental
Inland Steam and British and Irish Magnetic Tele-
graph shares continue in demand, will an upward
tendency.
Ocean Marine shares closed to-day at 8k to ft
prem. ; Thames and Massey, 2 11-16 to 13-16
prem.; UniversalA to die. ; North British and
Mercantile, 154 to 184 ; Commercial Union, to
4 prem. ; and London and Provincial Marine,
ak• to par.
The closing quotations for shares in new under-
takings were as follows :—London and Northern
Bank, tto prem. • English and Irish
die, to par ; Bank of Scinde, Punjaub,aniliKA.
flegl,hil Lex]; Brian!!! and
~/Zuth
Financier.
Zionfc
Smelt-
to prem. • London, Birmingham, and South
Staffordshire hank, die. to par ; Anglo-Por-
tuguese Bank, to f prem. ; Midland Counties
Union Bank, to 1 prem. ; and Cannes Hotel, to
AnAn advance has taken place to-day in Victoria
and Queensland Government Bonds. Maryland
' Five per Cents. were likewise in demand.