The Express.
London, England, 1865-01-12 00:00:00

_F9II.IIIGN RAILWAYS.

Num and liiips—Tvl7l4fr. per IL:, by lie Belgian
N__
At.
Oilmen (ilieepres sad Aidiel. si.
Turla sal Severs (all paid). Y.

PRBFRIIIINOE inaßas.

• Wastors—Wed ltid.—Ozt ladisi. Meet 1191.
• lifirtk Bastin 81 prt seat. Pref. Mask. 70.
Ditto. Absidsia gni. 61st OW., 123.

MONEY MAREBT,-(THIS DAY.).

FRESH REDUCTION IN THE BANK RATE

OF DISOOIINT.
Two o'Cuxx.

The Directors of the Bank of England, at their
weekly court to-day, have reduced the minimum
rate of discount from 6to per cent.
This measure lies not been attended with any
stimulating effect upon the stock markets, which
are inactive, attention being still almost exclusively
occupied with preparations for to-morrow's
settlement in shares and foreign stocks.
Oonsols are unaltered for money, but
lower for the account. Foreign stocks
and most other securities present little variation.
Home railways, however, are better.
The demand for money has increased, bills
which have been kept back in expectation of a re-
duction iu the Bank rate being now brought for-
ward. Nevertheless, choice three months drafts
have been discounted at fij per cent., and in
exceptional instances at Q. The supply of money
in the Stock Exchange has diminished, and the
rate for short loans has consequently risen to to
4 per cent. _ _

The rate of the discount establishments for
money at call is unaltered, but for money at seven
days' notice the allowance is reduced from 5 to 41
per cent., and at fourteen days' notice from 51 to 5
per cent.

The terms of the joint stock banks, for money on
deposit, remain 4} per cent.
At Paris to-day, according to Mr. Renter's tele-
gram, the Three per Cent. Bente' were quoted
68fr. 85c., being se. lower than yesterday.
Consols are now quoted 891 to 90 for money,
and 90* to for the account (February 9). The
official business report is as follows :—Three per
Cent. Consols, for money, 90, 1, 89,1 ; ditto
for account, 90} ; Three per Cents. Reduced, 89*,
; New Three per Cents., 89*, jf, ; Annuities,
1885, 14 5-18 ; Bank Stook, 242, 240* ; India
Stock, 212, 215 ;ditto Five per Cent. Stock, 103 k,
104 ; Four per Cent. "enlaced" rupee paper,
91 ; and Sxchequen BBL, par to ss. prem.

Foreign stock; in most cases are unaltered.
Turkish Bonds of 1868 are flatter ; but the
Consolidds continue in demand. There are
also more inquiries for Venezuela Bonds.
Some of the present quotations are annexed,
viz.: Greek Bonds, 24} to f ; Mexican, 28}
to }, ex div. ; Confederate, 53 to 55 ; Spanish
Passive, 32} to } ; the Certificates, lq to } ;
Turkish, of 1858, 71} to 1 ; ditto 1862, m
to 1, ex div. ; and the Consolultis, bni to }.
Transactions are recorded as follows :—Brazilian,
1863, 84}, 831 ; Egyptian, second issue, 1001.
Bonds, 98, ; ditto 1864, 95} ; Greek, for ac-
count, 24} ; ditto Coupons, for account, 101 ;
Italian, for account, 641, ex div. ; ditto Marem-
mana Railway, 681, ex div. ; Mexican, 28, ex
div. ; ditto 1864, 261, ex div. ; Monte
Videan scrip, 31 prem. ; New Granada
Deferred, 6} ; Russian, 1822, 901 ; ditto 1850,
87f, ex div. ; ditto, 1859, 551 ; ditto, 1862, 89i, 1,
; Spanish, 47} ; Turkish, 1854, 90 ; ditto 1862,
701, ex div. ; ditto 1001. Bonds, 701, ex div. ;
Venezuela, 1862, 47}, 48 ; ditto, 1864, 423, 45.
Egyptian Loan scrip is now quoted 1 to 1} prem. ;
Danubian, } die. to par ; Monte Videan, 21 to 3}
prem., being lower ; and Atlantic and Great
Western Railway Certificates of Debenture, 1 to
11 prem.
International Financial shares are now quoted
2} to prem. ; General Credit, 3} to }
prem. ; London Financial, 84 to 9 prem. ;
Imperial Mercantile, 3} to 1 prem. ; Hudson's
Bay, 16} to ; Anglo-Egyptian Bank, } to
prem. ; and Ottoman Societd Gdndrale, 2} to }
prem.
The steamer Syria took to-day 202,500/. in
silver and 4,1401, in gold fur Bombay, and 14,0001.
in gold for Alexandria.
The amount of gold taken to the Bank yesterday
was 4,0001., making a total of 220,000'. einee the
last return (including 100,000 sovereigns from
Ireland), while the withdrawals for export have
reached only 6,0001.
The failure is announced of Messrs. James
Luuham and Co., wholesale provision merchants
of the Boropgh, with liabilities for about
300,0001., of Which about half is expected to rank
upon the estate. The liquidation, which will pro-
bably soon be carried out, is expected to prove
satisfactory, the assets being large, including a con-
siderable amount of book debts undrawu for in this
country. The extent of the latter may be con-
sidered as the proximate cause of the stoppage.
The house has been established about thirty years,
and appears to have suffered of late from the keen
competition in trade, which has greatly tended to di-
minish the profits of the business. The circular
issued is as follows :
Osatlemem—We have to inform you that Maw& Jams.
Linehan and Co., of the Borough, provision merchants, have
this day been compelled to sunned payment. The books
Yee been placed in the hands of Mann. Ookomse„Turguend,
Totem, sod Co., who will forthwith moan a statement
of attain, sad emir's, a mortis( of the credtkes at the
earliest opportunity.— We are, tra.,
J. sad J. H. LINELATEZ end BACKWOOD.
7, Walbrock, Loodoo, 8.C., Jae. 11.
The London and North Western Railway traffic re-
turn shows this week au increase of 3,9121. over last
year ; the London and SouthVestan, en increase of
2,7741.; the Great Western, an increase of 4,119/ ;
the Great Northern, an increase of 2,4691.; and the
Great Eastern, an increase of 1,4091.
The conversion of two more private firms into the
"limited" form is announced. A private circular
bas been issued from the offices of Messrs. Alfred
Whitworth, Clemesba, and Co., financial agents,
of Manchester, announcing that arrangements have
been effected to amalgamate the extensive iron and
engineering works of 'llessrs. Hopkins and Co. and
Messrs. Gilkes, Wilson, and Co., both of Mid-
dlesborough-on-Tees, and to convert them into a
joint stock company, under the name of "Hopkins,
Gilkes, and Co. (Limited)." The capital of the
company is fixed at 675,0001., in shares of 151.
each. The vendors take a large proportion of the
capital, on which they are to receive no dividend
for three years, unless an average dividend of 10 per
oent. be paid to the other shareholders. The board
of directors consists, amongst others, of Mr. Isaac
Wilson, J. P., of Nimthorpeliall ; Mr. W. R. J.
Hopkins, J.P. and D.L. ; Mr. Henry Pease, M.P.;
Mr. E. Gilkes, ex-mayor of Middlesborough ; and
Mr. Richard Birley, Mr. Jno.Hall, and Mr. James
Fletcher, of Mancheter. The share list is to be
closed on the 21st inst.
The first ordinary general meeting of the Im-
perial Mercantile Credit Association (Limited) will
take place on the 23rd inst.
The general meeting of the National Steam Nevi-
gation Company (Limited) is to be held on the 26th
unit.
A special meeting of the Australian Agricultural
Company is convened for the 31st inst., and the
half-yearly meeting of the Scottish Australian
Investment Company (Limited), for the 97th inst.
It would appear that the rumours relative to the
next dividend of the Egrptian Commercial and
Trading Company (Limited), must be at least pre-
mature, u the full accounts from Egypt are not
expected to be received in this country until about
six weeks or two months hence. Until they mule
to hand, estimates of dividend must be conjectural.
With reference to the market for American secu-
rities, Mr. E. F. Satterthwaite reports as follows :
We have bad sours Important ffuctuathaa in the Leaden
market for Americas securities during the past week. On
the arrival of the Cuba, with intelligence of Merman's
4
is of Savannah, there wsa a decided inclination to
I:A=Gloweessiset Beads sad Railroad Shares, sod ed,
voiced bids were made, 5.20 Bawds being taken at 46, sad
!Maas Share@ at 534. Later sews. however, by the Bern-
visa. repostiag the return of the WRainAtek expedition,
bad a &swan affect as the market, Minces Shares Ts-

ftroac to tint quotations of last mask, rd 5.20's to gad
4kr = eas t dram ha has ia Eris tassosa, whisk
a
38, have fade. to 38 to 364.
no following gives an approximation to the
tenns_iseierally current yesteeday :
Greal Westora i to
Laaceshiss amt Yoritshiro 7-16 to
London sad North Wastes
liklated to
Oalsdosiaa
Ikea Nortbam, A to
Nstropolitsa
Routh &eters 6•to
-

North Pasture : Berm*
Ditto Tare
Grate lobe
Gnat Woman et Oneida ....
Lexasebeerr
Allirtss Busk

Oonfedasto Loan
Maxima
Ditto, 1964
Spool& Native
Ditto Do ilieslos
Vouesnois, 1802

7-111 opt
9-16 r
1 r

t
1-12 w
12 pet
asst.
2706.
12 „
&le
12
mt.
WI%

WIDIMIDAT Beams.
Consols, which closed esterday at 904 to for
the 9th February, opened' this morning at the same
quotation, and closed at 901 to 4. For money*
last price was 894 to 90. The official business report
is as follows :—Three per Cent Console, for money,
891; is 90, 119 i, 90 ; Three per Cents. Reduced,B9,
14104 New Three per Ceuta., 894, 89, ; Beak
240, 242 ; India Five par Cent. Stock, 10:11,
104, 1034, 104 ; ditto Four per Cent., 974, 98;
ditto certificates, 984 ; ditto bonds, 7s. prem. ;
Five per Cent. " aniseed " rupee paper, 1014;
ditto Five-and-a-Ralf per Cent., 1104, 1094.
The India Five per Cent. Stock continues in
demand, and has again advanced. India Bonds
were marked 7s. prem. Exchequer Bills remain at
par to ss. prem.
The foreign stock market was firm, with a
favourable tendency. Turkish securities have risen
to I per cent., being still favourably infinenoed
by the statement from Constantinople that a cos-
solidation of the Turkish Debt is contemplated.
Peruvian, Colombian, and Moorish Bonds im-
proved 1 per cent. • Venezuelan( 1862 and 1866, as
well as Confederate and Greek, 4 ; and Mexiess,
Spanish Passive and Certificates, 4 per cent.
The preparations for the special settlement. on
Friday in the Montevidean Loan have led to a
fresh nee in the price, owing to the oversold natiire
of the account. For the temporary loan of the
scrip as much as 4to 3 per cent backwardation"
was given. The closing quotation was 34 to
prem. Egyptian Loan scrip left off at 1 to
prem. ; and Danubian Principalities Loan, as 4 dia.
teflaire.preparations for Friday's settlement in the
share market showed gavelly a fair supply of
stock. The rates of "continuation" on Great
Northern and Metropolitan Railway stooks ex-
hibited a tendency to decline, but increased on
Midland, as much as 1 per cent being paid. On
Metropolitan the final rate was only about 4. The
"continuation" on Confederate Bonds opened at
to 4per cent., and afterwards declined to 4.
In the market for bank shares an improvement
was quoted in Australasia. Consolidated, English,
Scottish, and Australian Chartered, mid Alliance.Tbe
latter, after repeated fluctuations, closed about 1L 1016
higher than sterday, at 84 to 94 prem. On the
other hand, Bank of Otago, Bank of Hindustan,
London and Brazilian, London and County, Union
Bank of Ireland, and Union Bank of London were
rather lower. _

Hudson's Bar shares were last quoted 14 to t;
Egyptian Trading, 1 7-16 to 11 prem. ; Nattenal
Dneount, 101 to 11 prem. ; and Joint Stock Dis-
count, to * die. City of London Beal Pro-
perty, National Steam, and Peninsular, and Oriental
Steam share were firmer. Ocean Marine lnsurance
declined 10s. Ottoman Soati Gfin6rale were
quoted 21 to 2} prem.
The rates foe carrying over the shares of most of
the financial companies at to-day's settlement were
heavy, ranging on International Financial and
General Credit from 1-32 up to Is. per share.
Nevertheless, prices were well su
General Credit. and Credit Fowler and Eat
met with chief inquiry. The closing quotations
are annexed, viz.:—lnternational Financial, 2}
toolorean. • General Credit. 31 to 31 prerfi. ;
Finincisl, 81 to 9 prem. ; Impreml
ileroantile Credit, 3f to f pram. ; and Credit
Fonder and Mobilier, 3* to prem.
United States 6.20 Bonds have recovered to
451 to 46.