The Express.
London, England, 1865-04-28 00:00:00

the new company, however, will be directed to an
extension of the business for which there is a large
scope. The staff who have mainly contributed to
raise the business to its present prosperous condi-
tion are to be retained. Mr. Jenkins, the only
surviving partner in the firm, comes in as
a director, besides taking a large stake, and
Mr. Henry Howell, the manager for 18 years,
will be the resident director. The capital
is 400,000&, viz., 12,000 shares of 251.
each, and 5,000 perpetual 6 per cent, preference
shares of 201. each. By this mode of arranging the
capital, a great attraction is held out to the nume-
rous class who are desirous of a fixed and assured
investment yielding a good interest, though averse
to embarking in ordinary mercantile ventures.
4,000 of the ordinary shares, and 3,000 of the
preference shares have been privately subscribed.
The auspices under which this project is brought
forward, are to some extent identical with those
concerned in the conversion of the old business of
Messrs. Calvert and Co. into the City of London
Brewery Company, an ol eration which has been
so successful, that the ordivary stock of the com-
pany, issued at 90, has reached 40 per cent.
-renuum, and the preference shares 50 per cent.

premium.
The annual meeting of proprietors of the Natal
Bank was held in the colony un the 30th January,
when a. half-yearly dividend at the rate of 16 per
oent. per annum was declared, being the same rate
as that paid for the half-year ending the 30th JUDO
last. In addition, 4,894/. was carried to the credit
opfuntewthparot:wthailned mho as:anon:tot Ththee
adetp:Aotftsmi:
stated at 204,164?., against 155,5291. at the close of
1863.
It has been noticed as an anomaly for some time
Improvements Company with 51. paid have com-
manded &high premium, the fully paid shares have
only been saleable at a discount. It hai before
been explained that this anomaly hu partly arisen
in consequence of the large sales of the lighter
class of shares which were persistently made
Ilby speculators for • fail, and which Lad the
i effect of causing a scarcity of shares in
the market. But, at the same time, the price of
1 the fully paid shares was thrown down through
sales by some of the concessionaires, to Whom is
will be remembered were assigned, in the terms of
the prospectus, 2,500 fully paid shares, represent-
ing 75,0001. of capital. These sales having now
slackened, however, or being overtaken by the in-
vestments of the public, the price of the fully paid
shares yesterday recovered to par. Simulta-
neously the quotation for the 51. paid fell to
4i to 64 prem., swing chiefly to sales by original
holders desirous of availing themselves of the cur-
rent premium, and of converting their shares into
the fully paid form.
I The Emigration Commissioners will receive
tenders on the 4th of May for the hire of a ship to
carry passengers to Adelaide, B.A.
The return of the Bank of England for the week
ending Wednesday, April 26, compared with that for
the previous week, shows the following changes :
Circulation issue
Circulation active— ...
Public deposits 6,298.382 Increase 278,03
Other deposits
tiovernsocat securities is
banking departmest 10,984,441 No chance.
Othersecuntwela basking
department
Coin and bullion in both
departments
Seven day sad other bills 429,34 Increase 16,863
The Rest 3392,1725 Masan 8,983
Notes in reserve
Total reserve (notes 1i cols )
in Making dem:toast_ 8,T.15,760 Decrease 212,190
There has been an increase of 278,2931. in the
government deposits, sod a decrease of 219,5011. in
the private securities, but the accession to the
Bank's till occasioned by these changes has been
completely neutralised by the withdrawal of
734,9501. of private deposits, and thus the reserve
presents a decline of 212,1901. There is also a de-
crease of 219,215/ in the coin and bullion.

BANK OP ENGLAND.—An
ead•B6t Vic., e. /12, for the week
180.

.....,.
IFSIO: DEPJ
Noses tined 427e,560,44s ,

844,850