The Express.
London, England, 1865-07-10 00:00:00

MOITBY MARKET.-(THIS DAY).

Two o'Cloox.
Three is still an entire absence of animation in
the stock and share marks* and English railway
securities, foreign bonds, and financial shares are
quoted the same as on Saturday, with the exception
of two or three trifling alterations. Consols are
unchanged for money, but have receded 1-16 per
cent. for the account.

There is a fair demand for money to-day, and

the rate for the beet paper is 21 to 3 per cent.
The charge in the Stock Exchange for short loans
on English government securities is I.} to 2 per

omit

At Paris to-day, according to Mr. Reuter's tele-
gram, the Three per Cent. Ftentes opened at
67fr. 12c., showing no change of importance.
Consols are now quoted 90 to *, ex div., for
money, and 90 3-16 to 5-16, or 90k, ex div., for
the account (August 8). The official business report
is as follows :—Three per Cent. Console for money,
90, 1, ; ditto for account, 901, ; Three per
Cents. Reduced, 890, *, *, ; New Three per
_ _

Cents., 89j, e, I ; India Five per Cent. Stock, 104,
L ; ditto, Four per Cent. Debentures, 1866, 100 ;

Five-and-a-Half per Cent., "enlaced" rupee
paper, 1091, ; and Exchequer Bills, 4a. Fem.
Foreign stocks are quiet, and the only varia-
tion worthy of notice is a decline of
per cent, in Spanish Passive Bonds.
Some of the present quotations are sub-
joined :—Turkish, 1858, 73 to }; ditto,
1882, 718 to 72, ex div.; ditto Consolidds,
498 to f ; Mexican, 238 to 1, ex div. ; Span-
ish Passive, 298 to ft ; ditto Certificates, 148 to
f ; Greek, 201 to 21 ; and Confederate, 8 to 9.
Transactions are recorded as follows :—Brazilian,
1863, 801, ; Egyptian 978 ; ditto second
issue, 978 ; ditto 1864, 41, 931, 94} ; ditto
1001. bonds, 941 ; French Three per Cent.
Rentea, 67fr. ; Italian, 1866, 77, ; Mexican,
for account, 231, ex div. ; Peruvian,
1862, for account, 77j, ex div. ; Portuguese,

Par. Qr.

Prat.

1858, &c., for account, 474, ex div. ; Russian,
1850, 884, ex div. ; ditto, 1862, 914, 4,
92 ; Turkish, 1854, for account, 944 ; ditto,
1838, for account, 734 ; ditto 1001. Bonds, 78 ; ditto
1862, for account, 72, ex div. ; ditto, 1001. Bonds,
724, ex div. ; ditto 1865, 464 ; ditto Scrip, 24 dis.
International Financial shares are now quoted
14 to i pm. ; General Credit, 14 to 4 prem. ;
London Financial, 74 to prem. ; Imperial Mer-
cantile, 14 to 2 prem. ; Credit Fonder and
Mobilier of England, 34 to 4 prem., ex div.; Otto-
man Soci6Ws Gdnerale, 24 to 34 prem. ; Hudson's
Bay, 154 to 4, ex div. ; and Egyptian Trad-
ing,
The nominal quotations for the shares of some
of the new companies are subjoined :—Russian
Iron Works, Bto 10 prem. ; Downs Docks, to 1
prem. ; Atlantic Telegraph preference, to
prem. ; London Bridge Land, to I prem. ; Gla-
morganabire Iron, 24 to 4 prem. ; London Quays and
Warehouses, par to prom. ; London, Windsor, and
Greenwich Hotels, I to 14 prem. ; British India
Trust and Agency, 14 to 2 prem. ; Peruvian Rail-
ways, 24 to 34 prem. ; Blakely Ordnance, 34 to 4
prem. ; Hop and Malt Exchange, 14 to 2 prem. ;
Barned's Banking, 4 to 1 prem. ; Dalbeattie and
Kirkoonnell Granite, 14 to 2 prem. ; East London
Railway, par to prem. ; and London and Mediter-
ranean Bank, 3to prem.
The shares of the Metropolis Sewage and Essex

Reclamation Company are quoted 21 to 21 prem.
The steamer Douro will take to-day 159,990/.
in gold for Brazil (including the 130,000 sovereigns
withdrawn from the Bank on Friday), in addition
to 8,0001. in silver.
The amount of government bills on India, for
which tenders will be received at the Bank of Eng-
land on the 19th instant, will be rupees 25,00,000
(250,0001.).
The International Financial Society have issued
the prospectus of an undertaking which, as em-
bracing a work of great public utility, will be
regarded with more than ordinary interest. Sub-
scriptions are invited for the share capital-
-2,100,0001.—0f the Metropolis Sewage and Essex
Reclamation Company. This company is incorpo-
rated by special Act of Parliament, its basis being
an exclusive concession from the Metropolitan
Board of Works to Messrs. Napier and Hope. The
concession applies to the sewage of the northern
area of the metropolis, and the works proposed are
to be directed mainly to the three following ob-
jects :-1. To divert the sewage from the Thames ;
2. To render it innocuous, by its application to
growing crops ; S. To realise the greatest money
value of the manure contained in it. The conces-
sion is for 54 years, and for the first four years all
the profits realised are to accrue to the company,
but afterwards the apportionment is to be as de-
scribed below :
Ist. Is payment of interest at 5 per cent. per annum
on the share cepiteL 2nd. Is paymeat in Kowa
moieties to the shareholders sad the Metropolitan
Board of the Bather profile up to 15 per coat. 3rd.
Is division of profits exceeding 15 per cent. and
up to 25 per cent. between the shareholders and
the Metropolitan Board, is the proportion of one-fourth to
the former, and three-fourths to the latter. 4th. After
25 per cent., the division again to become equal.
Another paragraph of the prospectus gives the
subjoined explanation of the motives for this
arrangement :

The object of theirs stipulations I. that while the Metro-
politan Board of Works are virtually to receive half the
profits, yet, that to order to give a greater security, and
therefore greater value to the shares, the shareholders ere
to have a preference to the extent of 5 per oast., which is
made good to the Metropolitan Board between the i °iota
of 15 sad VS per cent.' at which latter point each par'y re-
ceives 12i per cent., and the division is then motioned

squally.
The works include the construction of a circular
brick culvert, 9 feet 6 inches in diameter, running
from the Northern Outfall Sewer to the East Cosa
of Rase:, and also the reclamation of a tract of
foreshore and sand, comprising about 7,000 acres.
These works have been contracted fur with Mr.
William Webster for the sum of 1,853,448 L, and
the estimate is that, including 50,0001. in fully
paid-up shares to be assigned to the concessionaires,
the cost of land, engineering, parliamentary and
legal expenses, superintendence, and management,
together with interest at sper cent. perannum on the
capital during the construction of the culvert, a
total capital of 2,400,0001. will be required. It is
therefore contemplated to provide 300,0001. by de-
bentures. One of the most important features of
the project is that the share capital of the company
derives the advantage of the three millions sterling
which has been expended by the Board of Works
on the north side of the Thames, for the collection
of the sewage at the point of its delivery to
the company. That there will be a ready
sale for the sewage seems to be fully proved
Iby the evidence of practical farmers and the
Ihighest agricultural authorities. The project
altogether, as promising to convert what is now
waste and a positive nuisance into a new source of
production and profit, is deserving of general
I port. The capital is at present divided into 21,000
! scrip certificates of 1001. each, on which 21. is to
be paid on application and 81. on allotment, but it
is arranged that on payment on the 2nd October
, I next of the further sum of 10/. per certificate then
dna, the certificates of 1001. will be exchanged for
shares of 10/ each.
"Cshtfid first ordinary general meeting of the Free-
, masons' Tavern Company (Limited) is called for
the 27th inst., when a dividend is to be declared.
The half-yearly meeting of the Australian Trust
Company is fixed for the 31st inst.
A general meeting of the San Paulo (Brazilian)
Railway Company (Limited) is called for the 26th
instant
The first ordinary general meeting of Reuter's
Telegram Company (I,amited) is convened for the

34th inst., when a dividend is to be declared. The
meeting will be made special to alter the articles
associatiess. _ . .

The first ordinary gemmed aseethi; of the Mfr.
chant Shipping Company Clansited) is convened for
the 28th instant, when a dividend is to be declared.
The meeting will be nimbi wig to alter the
articles of association in the ilium** of depriving the
company of power to deal in its own shares.
It is notified that the share list of the Glamorgan
Iron and Coal Company (Limited) will be closed
on Thursday next, the 13th inst.
Messrs. Pixley, Abell, and Langley Dave issued
their usual statement showing the import* and ex-
ports of bullion at London for the six months
ended the 30th nit. The imports of the first six
months this year have been, from all quarters,
7,508,9621. in gold, and 3,117,1291. in silver,
making a total a 10,626,0911. It is worthy
of remark that this is less by 3,541,1904
than the imports of the corresponding six month,
of last year, which represented 14,167,2811., viz.,
9,915,0241. gold, and 4,252,2571. silver. The
principal falling off is from Mexico, the Week
Indies, and the United States. The foreign drain
has at the same time been proportionately leas, the
six months' exports of gold and silver together
being stated at only 6,611,8081. for 1865, against
12,583,1961. in the first six months of last year.
The decrease in the shipment* applies chiefly to the
Continent and the East.

SATOIDAT EllllllllOll

Consols, which closed yesterday at 904 to i for
the Bth of August, opened this morning at the
same quotation, and closed at 904, "buyers." Foe
money the last price was 90 to 4, against 904 to 4.
yesterday. The official business report is as
follows:—Three per Cent. Consols for money,
901, 90 ; ditto for account, 904 ; Three per
Cents. Reduced, 891, ; New Three per Cents,
89k, 4, it; Bank IStock, 249 ; India Five pee
Cent. Stock, 1041, ; ditto Bonds 18e. prem. ;
Five-and-a-Ralf per Cent. " enfaced" rupee paper,

1 The India Five per Cant. Stock was firm. India
Bonds were dealt in at 18e. prem. Exchequer Bills
were steady, at par to 4s. prem.
Foreign stocks were again rather flat. There
was a decline off per cent, in Egyptian Bonds of
the earlier issues, f in Turkish ConsoUde", and * is
Spanish Certificates, Mexican, and Italian. Con-
federate Bonds, however, were slightly firmer.
The transactions in bank shares were scanty, and
little change occurred in prices. An improvement
took place in Bank of London, Colonial, and
London and South Western Bank, while Bank or
Australasia shares were quoted slightly lower.
National Discount shares were last quoted to-
day 11 to prem. • Joint Stock Discount, If
to I dia.; Egyptian irading, to 4 du.; Ottoman
Gdndrale, to 34 prem.; Hudson's Bay,
14 to f, ex div. ; and Icon Brewery, If to n
prem. Commercial Union Insurance shares were a
little more offered. Royal Mail Steam continue to
improve, mid there were inquiries for Warrant
Finance and Ottoman Gaa. London and St. Ka-
tharine Dock stock was quoted 1 per cent. better.
No alteration worth mentioning occurred in the
prices of the financial companies' shares. The
closing quotations are annexed, viz.:—lnternational
Financial, 1} to 4 prem. ; General Credit, 111-16
to 13-16 prem.; London Financial, 7 to 7f prem. ;
Imperial Mercantile Credit, 1 15-16 to 2 1-16
prem. ; Credit Fonder and Mobilier, 3# to f prem.
- .

The closing (bet in many eases nominal) quota.
dons for shares in new undertakings are sub-
joined :—Peruvian Railways 21 to 31 prem. ;
London and Mediterranean Bank, 3to prem. -
Blakely Ordnance, 34 to 4 prem. •, Atlantic Tele-
graph Preference, to prem. ; Glamorgan Iron
and Coal, 211 to 3 prem.; Railway Credit, 1 to
2 prem. ; Phosphate of Lime, 1 to 2 prem. ;
Barned's Rank, to 14 prem. ; London, Green-
wich, and Windsor Hotels, 14 to 2 prem.; Samuel
Bestow and Co., to 14 prem. ; Liverpool and
Dublin Steam, to 14 prem. ; Hop and Malt
Exchange, 14 to 2 prem. ' • Park6eld Iron, 14
to 2k prem. ; General Estates, 3 to 4 prem.
United States 5-20 Bonds closed at 71 to 4,
being I per cent. lower than ye4erday. Atlantis
and Greet Western Railway Debentures rO2lllll
quoted 86 to 88.