The Express.
London, England, 1851-06-13 00:00:00

WINDLNO-UP OF JOINT STOCK COMPANIES.

OXFORD AND WORCESTER EXTENSION RAILWAY.
—Yesterday a meeting was held in this matter before his
Honour, Sir George Rose, to make a call of 11. Is. per share
upon those shareholders settled on the list as liable, on the
requisition of Mr. Torquand, the official manager, who re-
ports it to be necessary to discharge the outstanding debts.
Mr. Kairns, who appeared for the official manager, stated
that it was proposed to levy the above contribution on those
who were included in the first class of contributories' who
had not paid the original deposit of two guineas per share,
and in respect of which they had subscribed the deed. It
was likewise proposed to make the call on the 6th class of
contributories, but only upon those in that class who were
members of the managing committee. Mr. Tnrquand
stated that the call was required to meet debts amounting
to 1,1431., and that on applying the produce of the call the
payments originally made by the shareholders would be
equalised. The proposed call would produce about
3,0001., and any surplus, after paying the expenses of
winding-up the company, would be returned to the eontri-
'works. Mr. Flews, of the firm of Lawrence and
Flews, Mr. W. B. James and others, on behalf
of Sir J. Key, Major Sharpe, and several shareholders,
opposed the declaration of a call, contending that according
to the decision of Lord Cranworth the official measurer must
first show in respect of what particular debts their clients
were individually liable.—Mr. Kairns replied at length that
the decision of Lord Cranworth could not avail in this ease,
and quoted a clause from the subscribers' agreement entered
into by the shareholders, and by which they expressly
" undertook, in the event of the rejection of the scheme in
parliament, or in the event of the company's failure, to pay
and discharge all debts of the company.' —His Honour the
Master said that in view of this direct declaration of cove-
nant on the part of the subscribers he did not at present see
how he could decline to make a call unless the various par-
ties opposing could succeed in upsetting the assumpsit in
respect of which they were clearly liable, to give them an
opportunity of doing which he would postpone any formal
decision until the 10th of July next.
DIRECT CIIICIIEsTER AND PORTSMOCTII RAlL-
way.—Yeatertla a meeting was held in this matter, before
his Honour the Master in Chancery Richards, for the pur-
pose of proceeding with the list of the members of the pro-
visional committee who had accepted shares in this concern,
varying from 101. to 3001. each. The first case taken, and
which in a great degree will govern the rest, was that of
the Right Hon. Robert (lore, her Mesty's Charge d'Af-
faires at Monte Video, for whom Mr. Jepell and Mr. Field
appeared as counsel ; Mr. 11. Harris appearing for Mr.
Wryghte, the official manager. Mr. Mogenie, the former
solicitor of the company, was examined at considerable
length, and spoke to certain correspondence between the
company and Mr. Gore, upon which an allotment of 300
shares was made. Mr. R. Chapman, a member of the ma-
naging committee and of the allotment committee, was also
examined, and proved the allotment of the shares in the
terms of Mr. Gore's request. Ultimately the proceedings
were adjourned for proof of the handwriting of Mr. Clore.

RAILWAYS.

THIS DAY.

Two o'Crece.
The share market opened with a gloomy appair-
ance this morning, and business was concluded in
many cases at lower terms; but a sensible rally has
since taken place, and the market now wears a much
better look, whilst prices have in moat instances ral-
lied to
_ yesterday's range. This is "pay-day," and
the final adjustment of the balances arising out of
the account has been completed without difficulty, no
instance of default having been reported this morn-
ing.

MAZES AND sroccs 13114701

64•1 today lap 1
to I dokook.

MONEY MARKET.
THIS DAY. _

Two o'Ctocx.
The English stock market remains firm, with a
imoderate share of business, which includes operations
on public account. Consols are to-day quoted with
the dividend off, the transfer books being shut,
but by private transfer a few transactions are still
being carried on for cash with the dividend on.
Consols have been steady all morning at their
present quotations of 961 to 97 ex div. for the 17th of
July, which is equal to 981 to f with the dividend
on. Business is officially reported u follows
Three per Cent. Consols (shut), 98, 1, with dividend
for money ; ditto for the opening, 961, 97, ex div. •
Three per Cent. Reduced, 971' ; New Three:
and-a-Quarter per Cents., 981, I. Bank Stock, 2111,
2121.

E.xchequer Bills experienced a decline yesterday
afternoon, which, however, has not proceeded further
to-day. The 1,0001. bills have been dealt in at 425.
prem.; ditto 5001. 465. and 435. ; ditto small, 475.
and 435. India Bonds, under 10001., at 55e. prem.!
' The foreign stock market continues without any
general investment; but with the settlement of
the account, which has been finally completed to-
day, speculation has taken a fresh start in Peruvian
stocks; the Active Bonds have reached 89, and the De-
fared 424. Mexican Bonds are again worse, and have
fallen to 341, in the absence of anyexplanatione from the
Committee about the accruing dividends, respecting
which many holders naturally feel mush anxiety. A
good deal of dissatisfaction is also expressed at the
absence of any official information from Mexico, by
which the bondholders might be enlightened as to the
actual position of affairs in that country. Speculators in
London are in regular receipt of intelligence by
every arrival, the possession of which: gives them
the virtual government of the market. A meeting
of the bondholders is called for Thursday next (the
19th inst.), with a view, as noted in the advertise-
ment, of considering the propriety of authorising
the committee to negotiate the 2i millions of dol-
lars in advance of maturity, and for other matters.
To-day's business list is as follows Buenos
Ayres Six per Cent. Bonds, 55 ; Dutch Two-
and-a-Half per Cents., 59?, ; ditto Fear per
Cent. Certificates, DO!. Equador Bonds, 31. Mexican
Bonds 341, 1. Peruvian Five per Cents., 88, 884;
ditto for account, 884, 89, 881; ditto Deferred, 42,
424. Russian Four-and-a-Half per Cent. Bonds,
1021. Spanish Active Five per Cents., 202, ;
ditto Passives, 6.
The following shows the extreme rates at which
bargains have been concluded in the more specula-
tive descriptions of foreign bonds during the account
now closing, from which it will appear that the
fluctuations have been very small :
Highest. Lowest.
Mexican Bonds 35 34
Peruvian Five per Cent BB 83
Portuguese Four per Cent .. 331 32
Spanish Active Five per Cent..... 201 201
Ditto nowise 6 Si
Buenos Ayres Six per Cent
We have received the following from a Mexican
bondholder:

IitXICAN BONDS.

Sir,—l have observed with great regret that you have
taken views extremely prejudicial to Mexican credit: what
you almost daily state fills timid bondholders with alarm,
induces many to part with their bonds after having held
them for years, and thereby confirms heavy losses which
would be regained if perchance it should turn out that
your view of Mexican credit should turn out erroneous. I
do not deny that your opinion may be correct, but in justice
allow me to state mine : the public will soon judge which
view is correct. 1 have, as a foreign bondholder, little to
do with the internal financial sy..tem of Mexico; all I have
to inquire is this. Is the revenue sat apart to pay me 3 per
cent. per annum, sufficient for that purpose—and will the
Mexicans carry out the arrangement they are made with the
bondholders, to the effect that if those revenues are not
sufficieat they will augment them till they are, and pay our
dividends with regularity ? My opinion is that Mexico
will keep faith, and that the dividends will be
paid with regularity: the test will be the next, which
is due on the Ist of July. If Mexico pays that—
and Senor Payne, the Mexican Ambassador, has pledged
himself that it will be paid—l have that confidence in the
improvement of Mexican finances, that I make bold to
assert, in opposition to your opinion, that future dividends
will be paid with unfailing regularity. I request that, in
justice, you will insert this letter; let the public judge be-
tween us. The issue will prove whether any bondholder
will do wisely to sacrifice his property at the present miser •
able price—in the fare of 11 per cent. dividend, which I
have every reason to believe will be paid when due, and of
a payment of nearly 5 per cent. on account of the overdue
coupons.—l subscribe myself with great respect,
London, June 11. A MEXICAN BONDHOLDER.
The market for American stocks is_ quiet, and
without particular change in prices. Messrs. D.
Bell, Son, and Co., report the following as the pre-
sent quotations of the market, to which we have
added the latest New York prices, as advised by
Messrs. CEMIURIUII and Whitehouse :

Belson. Icedco New York
able. Woo.
United States 6 per Ct. Ikeda 1663... 103 106 . 174113
„ I .. De. .. . ISIS .. 112 113 ... 133 123
6 r• Mait..llll-18es .. 1074 ... 117 1174
New Y 4872 City 3 „ ........1023-1810... 90 91
1109030 1;117 - 5 •
„ 80a49.1236-1863 .. 91f 934
Pemmilvaals.. I „ Walk
Oblo 6 .
lliesesbanatt4..3 „ (868211201624)1863 . 106 107...
Ilarylood .....3 „ • Um 9O 91 ... 97
Comads 6 „ Booth lB7l . 1074 1074
Mostrall C 11-6 „ 11,4418.. ..... 83 64
The last price of United States Six per Cent. at
Frankfort is 117 to I.

The railway share dealers were likewise en
in preparing for the settlement, this being gticket
day. The rates of continuation have experienced
some change since yesterday, but the variation is not
considerable. Advances on French shares are to be
obtained as usual, at from 5 to 10 per cent.
The extreme prices at which business has been
done in railway sharer during the account which
will expire to-day are as follows :
Prim daring the Menet.
Paid.
30 Atermem............ WOW. Lowest.
119
/0 Caledosins l4 ....... . . 121
30 Cheater and Holyhead. 2~
10 Eastern Counties
23 East Innemhire
SO Edinburgh end Glasgow
23 Great Northern
100 Greet Western BB4
100 Lanwature and Torkihire
11 London wee Bleck well
100 London. BrirbtenondaestliOmet.... 971 ........... ....
100 Landon and North Welollll 126
100 London end noutli western
ISO Menobeeter, *n4119408 Lineoinakins 31 ...,
100 Illittiend 1
23 Norris Britian
171 !iamb Stadordehlre
SoOmord,Worceeter.BWoleerhamghiss 17
131 lihrewainary and Birmingham . .. 8
80 South stern
23
U York, Nevares, k Berwlek 2l
IS Tort and Nwth Midlend .
The fluctuations have been greatest in Midlands,
Oxford and Worcester., Edinburgh and Glasgow,
Manchester and Shellields, North British and North
Stafford., but they have not been as much as in some
late accounts. The general tendency has, however,
been downwards.

The traffic returns for the last week on the under-
, mentioned English lines of railway, as made up to
yesterday, are as follows:

..
1851. 18.50.
London and NorthWestem £58,466 ..,. £48,277
Great Western
Midland
Lancashire and Yorkshire 16,784 .... 13,773
London and South Western 16,419 .... 11,068
1.011410 u and Brighton
South Eastern
York, Newcastle, and Berwick 14,331 .... 14,534
York and North Midland
Leeds and Think 1,051 .... 962
North Staffordshire
Manchester, Sheffield, and Lua-
.. .—..—

colnshire 8,477 ....
Exeter and Crediton
Bristol and Exeter
Manchester, Buxton, Matlock,
and Midlands Junction
Shrewsbury and Chester 1,671 ....
Shrewsbury and Birmingham 671 ....
Eastern Counties and Norfolk 16,982 ....
Bolton, Blackburn, Clitherue,
and West Yorkshire 741
Chester and Holyhead 3,142 ....

6,720
4,120
1.51
1,661
731
16,7,58
436
2,841

Total £224,184 £192,064
The total receipts upon the corresponding lines
being 224,1841. in 1881, and 192,0641. in 1860,
the increase is shown to be 32,1101., or 181 per

cent. The number of miles open was in 1851 3,5503,
and in 1850, 3,4093„ showing an increase of 141
miles, or 4 per cent. The average return per mild
per week was in 1851, 631: 2s. 3d., and in 1850, 661.
6s. 7d. These returns arc highly satisfactory, and
show how well founded were our expectations of the
Exhibition and season traffic. Among the chief lines,
the London and North Western, and Great Western,
show a very remarkable increase. The Laneastihn
sod Yorkshire, Brighton, London and South Western
and South Eastern may also be pointed out as highly
favourable. The depression in the Midland iv* is
traceable to the competition of the Great NortbOrn.
The return perxile per week on the chief linos is
subjoined:

11. 18.
Louisa aDd
North Western £112.79 .... ‘102.7 501
Opt Western
75.17

Midhaai
, luninehire and Yorkshire
.... 60 GO
Leedom and South Western
.... 48.30
Laudon and Brighton
&uth Eastern
York, Newcastle, and Berwick 48.91
.... 60.87
York and North Midland
The returns on Scotch lines are as under :

1851. 1810.
Glasgow and South Western £3,980 .... £3,114
Glasgow, Paisley, and
Grsenock
Caledonian
.8,494

1,143
6,203
1,40.5

Abordera
The Irish returns are:
1861. 1840.
Midland Great Western £1,301 .... £1,412
UlsterBB6 .... 867
Belfast and Ballymena
Dublin and Belfast Junction 692 .... 242
Waterford and Limerick
Belfast and County Down 246 .... 244
Dundalk and Enniskillen 149 .... 146
Dublin and Drogheda
Great Southern and Western 4,094 .... 4,219
Dublin and Kingstown 1,217 .... 1,380
Irish South Eastern —
Londonderry and Enniskillen 166 .... 120
To-morrow (the 13th June) will be held the general
court of the Commercial Dock Company.
ENGLISH PONIEI.—Teir Dar.
Seek Reek 211412, I Law ArtaulUet, 7 6.16
3 per Ct. Iteduool. ~.71 i 1941181:Seek,
low Ct. C0nr...10. gm Ditto Bonds
i per Ct. Coma., 954 i Etietteqeur 111118.-1.0001.,43e. to 4re
Cowrie rarer... July 17. elli lei dly
FOREIGN FUNDS.
44 Per CS. Rchtlan, 91 3 6 per C. Meaken. 344 3
6 tor CL liresllLata, 81 '!) 44groCt.D.ePfe,ezDtIli1
Do. New, 86 d
, per Ct. IttsetrB MTV,. 57 It 5 per C. Pertognete4l6 7
6 per CL Chelan. 19.1 6 eper Ct. Sudan. 111 13
3 per Ct Mete— 44 per Ct. Iltvelee, 1014 24
3 par C. Dantvh. 74 7 6 per C. Nlanbdi, AcUye. 204 0
11 per Ct. Duet r 94 re 3 per C. Pp valet 484 4
4 per C. Del.* Al 4 Do. Deere. 6 4
&tender. 34 4 218:r R4..Truie.sn 32 4
1 per C. Grenade. 16 17
LATEST FOREIGN EXCHANGES.

PARIS, Joss 12.

For
Moor,.

33 le
91 90
71 50
79 0

13 33
9113

53 30
91 93

SS 2S
%LS

$ per Cents.
b nee Cents.
4 per Cents.
4$ do. siew Loma :
3 per Cents.
Exchange on Loudon : sleight, 34 ;90 da7y4i n 3.
Belgian,.. 1816
Do. 41
Do. 9, 11141 — Kaman Loan, 1931
7721 ...
Do. 26
rrae.up 80nn...
Dn. 1330
Piedmont 3 p.a. 184$ AI 60 I Bank Shares
Juts 12.—Venailles (right bank), 267 60; ditto
Celt banal, 227 39; tarts and Orleans,tl4l 30; Psrts and gaunt. 675;
Rouen sod Harm, 233; Marnsires .uld Avignon, 213 13; Strasbourg
and Bale, 152 ss; Centre, 45s 73; Orleans and Bordesse, 376 75;
Northern, 471 75; Paris and Strasbourg, 36$ 73; Tours and Nantes,
273; Montero:au and Troyer, 122 50; Dieppe and Pecarap, 203 75;
llordesto and Testes 40.
MADRID, Irma 7.—Three per Cents., 361; after Doha,
361. Four per Cents., 15. Five per Cents., 161 ; after
Doha, 16f paper. Coupons, 9 ; after Bolsa, 81 cash, Si
paper ; Passive., 71; after /Sohn, 7 1-16 cash, 71 paper.
Bank uf St. Ferdinand, 100. Exchange on London, 50.05.
BERLIN, JUNE Voluntary Loan, 1051. National
Debt, 861.
VIENNA, JON. 11.—Five per Cent. ldetalliques,
Exchange on London, 12.28.