The Express.
London, England, 1865-01-23 00:00:00

1865.

MONEY MARKET.-(T1118 DAY.)

Two o'Ctoon.
The stock markets remain inactive, and there is
no general change in prices. The English funds
mania at Saturday's quotations. Foreign stocks
are dull, the chief change being a redaction in
Confederate and in Spanish Passive Bonds
and Certificates. As regards railways, the ouly
alteration is a decline in Caledonian and Lan-

cedars and Yorkshire.
The demand for money oontinues moderate, and
the rate for good bills is unchanged, at 51 to ba pat
cent. The charge for short loans in the Stock Mt-
change on English government securities is 3. to 4
per rent.
At Paris to-day, according to Mr. Reuter's tele-
gram, the Three per Cent. Rent's opened at
66fr. 95c., being 1 per cent- lower than on Satur-
y.
da
Consols are now quoted 891 to for money, and
891 to . for the account (February 9). The
official business report is as follows :—Three
per Cent. Consols, for money, 891, 1 ; ditto
for account, 891 ; Three per Cent. Re-
duced, 881 ; New Three per Cents., 881,
; India Stock, 213 ; ditto Five per Cent. Stock,
1031, ; Five per Oent. " enlaced " rupee paper,
102. ; and Exchequer Bills, March, Is. prem.
Little business has been done in foreign
stocks, which are dull. Confederate Bonds
have declined II per oent., Spanish Pas-
sive and Certificates 1, and Mexican ..
Some of the present quotations are annexed,
viz.:—Greek Bonds, 231 to j ; Mexican, 271
to 28 ; Confederate, 551 to 561 ; Spanish Pas-
sive, 33 to 1; the Certificates, 141 to 1;
Turkish, of 1868, 711 to 721 ; ditto 1882, 70/
to I, ex div. ; and the Consolidds, 50 to 1.
Transactions are recorded as follows :—Egyptian,
1864, 96 ; Greek for account. 24 ; Mexican, for
account, 28, ex div. ; ditto Anglo-French,
54. ; Portuguese, 1856, ac., for account,
47 ; Russian, 1862, 891, 1; ditto 1864, 90. ;
90 ; Spanish, for account, 481 ; ditto Passive, for
account, 3.331 ditto, Certificates, for account, 14.;
Turkish, 1854, for account, 90 ; ditto, 1868, for
account, 721 ; ditto, 1862, for account, 70i, 1, ex
div. ; ditto 1001. Bonds, 701, ex div. ; Venezuela,
1864, 42..
Egyptian Loan scrip is now quoted to 1 prem.
Danubian, die. so par; Monte Videan, S. to 4
prem. ; Italian, to 1 prem. ; and Atlantic and
_ Great Western Railway Certificates of Debenture,
Ito prem.
International Financial shares are now quoted
11 to 1. prem. ; General Credit, 21 to
prem. ; London Financial, 8/ to prem. ;
Imperial Mercantile, 21 to 3 prem. ; Hudson's
Bay, 151 to 161 ; Anglo-Egrptian Bank, 1 to 1
prem. ; Ottoman Sociiitif Nara*, 11 to 2
prem., ex div. ; City of Milan Improvements, 31
to . prem., being again higher ; and Darjeeling
ComPanyt to 1 Prom

Pout. o'Cioce.
Consols are still quoted 201 to 1 for money,
sod 891 to 1 for tke account.
The prospectus of "John West and Company
(Limited)" is issued. The object is to purchase and
carry on, under the joint-stock principle, with
limited liability, the gas meter manufactory of the
late John Weet, now in full operation at Old-
ham. The establishment has a large connection.
id It is mentioned that the proprietor agrees to receive
10,0001., part of the purchase-money (22,000/4, in
shares, and the remaining 12,0001. by cash pay-
ments spread over a period ot two years, and that
the shares taken by the proprietor are to be re-
stricted to a dividend of M. per cent. until January
Ist, 1867, after which date they will rank equally
with the other shares. The capital is 50,0001., in
5,000 shares of 101. each.
The report of the directors of the Maritime In-
surance Company (Limited), to be presented at the
meeting Galled for the Slat inst. at Liverpool,
states as follows :
The company commenced business on the Ist March last.
The total risks base, after deducting rrinanreaces, amount
to 8,237,5564, of which 6,104,5851.. or 74 per ant have
run off, leaving pending liabilities of 2,132,9 M., equalto26
per Net The total net premiums, after deducting re-in-
surances and return., amount to 115:985/. 14s. 3d., of which
71,7281. 10s. 3d. represents premiums on arrivd Aoki,
leaving 44,2571. 4s. for premiums on risks still outstanding.
The total payments for lassie sod averages up to the 31A
December, 1864, amount to 33,0364 18s. 3d. The eetimated
amount yet to be paid for ascertained aboolute and con-
structive total losses is 16,8741., a large proportion of whisk
ariam from the disastrous cyclone at Calcutta on the sth
October last :gat a casualty so terribl destrurtivthe con-
e in its I
character being happily of exceptional tO y CCUrieDOll,
fidence of the directors in the present sod future
prospects of the company is in so way impaired.
td 'The 'stared realised by loans sod investments amounts to
7,0071. 10s. 10d., and out of this sum the directors room-
mend that a dividend be declared of 25. per sham, payable
on the Ist February, 1865, free of income tax, or equal to
6 per cent. par annum as ten months' besineia. In accor-
dance with the practice of other marine i1Mi11r41.241 compa-
nies, the declaration of a dividend out of premiums is de-
ferred +maths first year's risks are run off and the result
ascertained.
The numbers are published of eighty first wort-
- gage bonds of the Pennsylvania section of the
Atlantic and Great Western Railway, which were
drawn on Thursday, and are to be paid off at par on

the let of April.
A call of 21., making 101. paid, is to be paid on
the shares of the East India Irrigation and Canal
Company by the 15th February.
The half-yearly meeting of the Electric and Inter-
" national Telegraph Company (Limited) is to take
place on the 10th February.
The half-yearly meeting of the City of London
Brewery Company (Limited) is called for the let

February.
xa An advertisement bearing the signature of Mr.
xa Oswald Howell, accountant to the liquidators of
the Unity Bank, calls a meeting of the shareholders
for the 30th inst. at the London Tavern, " to con-
sider the recent extraordinary conduct of the direc-
tors in repudiating the acts and powers of the
liquidators, unanimously appointed by the pro-
prietors on the 15th March last."
The following remarks upon the revival of specu-
lation in new projects are from the circular of
Messrs. Joseph Travers and Bons :
In the Stock Exchange during the pest two or three weeks
tbe supply of mosey ham bees comparatively large, so that
while 54 or 54 has bees the minimum rate in commercial
circles, short leans on government securities have been ob-
tainable at 34 to 4 percent This has favoured the latrodivz-
Con of new schemes, and appears likely to revive the hopes
of promoters, but there is sot as yet say reel animation that ,
would hear much test. A year or a year sad a half back
the merchants and manufacturers throughout the country
were all looking to large profits realized or in wane of
realization, and were consequently seeking invades:its,
and ready to support any new undertakings that gave pro-
mise of success. At the present time, on the *misery,
the majority of the manufeetuneg and importing bosses
are suffering from one of the most unbroken and wearying
intervals of reaction ever known, sod the consequence is
that there an no great number of persoos ready to absorb
even important projects. If, therefore. anjthiog is mo-
mentarily received with favour on the Stock Exchange and
in the City, it is found daunt immediately that a tendency
to Betimes sets in, sad under these circumstances there
good mason to assume that no widespread ardour for fresh
commitments will permanently be exhibited.
With reference to the sherry trade, the circular
of Mr. F. W. Cosens reports as follows :
The export from Cadiz to all parts for the year 1864 was
67,3.'19 butte ; In 1863. 86,351; 1862, 52.876 ; 1861, 49, 945.
To the end of August the *hippest' were oormiderabiy is
ems' of 1863, but mince thee they have defiled, Issas(
the total for the year only about 1,000 butts more the to
1863. PANS have throughout the year bees firmly main-
Weed thefain of a heavy fisarroial ars, both in I
Spain aid England. The stock of really sound matured
sherry is now so limited, and is comparatively so towheads,
that many prolific vintages must to seemed before any ear-
pins can arks. The export from Cledis of raw immature
wine to meet the demand for cheap desoripuoss, bas pro-
belay ceased, considerable supplies are in bond bare, sad
I will probably beoooadi worthless from want of proper 1/est-
i most. A report was °Uvulas& a few soil sh that
•••••os of the shippers osatenaplated rednetios of price
tkue is not the slightest foundation for it—if anything.