The Express.
London, England, 1856-06-24 00:00:00

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MONEY MARKET-THIS DAY,

Two o'CLocw.

The funds remain very firm, at the closing
quotations of yesterday. Business is chiefly
diverted to the railway share market, which
continues good in character. Console are quo.ed
913 to lex div. for the 10th July. The Three
per Cents. Reduced have been dealt in at 943
to 95; the New Three per Cents. at 953 to
3; Bank Stock, at 217; Exchequer Bonds,

- •
at 992 to / ; Exchequer Bills at 10s. to 13,. prem.;
and India Bonds at 14s. prem. Ihe New Loan
scrip is quoted 3 to 31 pram..
. . .

forkiiil Six per bents. have risen to 1031 to
104, and the Four per Cents. to 104 j to 1051. Other
foreign stock* are well supported. The sales com-
prise Brazilian Old Five per Cents. at 1011 and 1001;
ditto, Four-and•a-Half per Cents., 97 ; ditto,
Five per Cents., 1829 aid 1839, 100; Chi-
lian Six per Cents., 103 ; Equador New Con-
solidated, 141; ditto, Provisional Land '%Vae-
rants, 5; French Three per Cent. Scrip (second
loan of 1855). 5 prem.; Granada Active, at 191 ;
Mexioan, for 30th June, 231; Peruvian Fonr-and-a-
Half per Cents., 79; Russian Four-and-a• Half per
Cents., 981; Spanish Old Three per Cents., for se
count, 47; ditto, Deterred, for account, 251; the
Committee's Certificates, 61, 6, el per cent.
" '

The amount of specie brought in by the Africa
from New York is considerable, being stated at about
187,0004 Probably • portion of this is on French
account. The exchange at New York on London
shows much steadiness. . .

The Bank of Eegland yesterday purchased the gold
brought in by the Medway and Marco Polo. The
aggregate remittances by these vessels amounted to
620,0001. in gold dust and sovereigns.
The corn market retains an upward tendency.
English wheat yesterday wu quoted 2s. to 3s. per qr.
higher than on Monday week. The French grain
markets are also rising. Since last Friday 23
floating cargoes of grain have arrived off the coast,
viz., 13 of wheat, eight of Indian corn, one rye, and
one beau.

In the letter recently published, addressed by the
late John &disk, of infamous memory, to his brother
James, in which the former gives the latter special
instructions for an extraordinary " cooking "of the
accounts of the Tipperary Bank, there occurs an
allusion which seems to have Riven rise
to anxiety in some quarters. The writer
alleges that the nefarious system which he recom-
mends to the adoption of his brother is analogous to
that carried out by the managers of three other banks.
The names of the three institutions were suppressed,
from prudential reasons, by the Master of the Rolls,
and have oonsequently been withheld from publics.
tin. It may be useful if we state that these names
have been ascertained, and prove to be those of three
joint-stock banks, t►e position and management of
which preclude the idea that the charge referred to
can have any foundation. It is useless to speculate
upon all the motives by which the guilty writer of
the letter in question may have been actuated, aid
the public will scarcely require the caution that so-
, collations from so tainted a source must be taken for
merely as much as they are worth. It is to
he hoped, however, that shareholders and directors
will at least derive from the unprecedented frauds of
John 13adleir a practical warning against entrusting
unlimited control over their funds to one or two in-
dividnals. When boards of directors abdicate their
functions of supervision in a flagrantly neglectful
manner, it does not admit of question that the law
ought to hold them personally responsible for all the
lose that may ensue.
With a view to the satisfaction of the proprietary,
the directors of the London and County Bank pro-
pose to resume the holding of half-yearly meetings.
A meeting is called for the 7th of August, when the
half-yearly accounts will bo submitted, and a divi-
dend declared.

The accounts of the London Chartered Bank of
Australia. to be presented to the meeting on the 27th
inst., state the profit. of the half year ending the 31st
Deo. last at 19,4281. 7s. After taking into account
the balance of 7,7431. 7s. 9d. against the bank on the
30th June, 1866, and 4311.4.. 4d. set apart towards
the preliminary expenses, a sum of 11,1031. 14s. 11d.
remains to be dealt with by the shareholders.
The third call of 61. (making 161. patd), is to be paid
on the new shares of the London Chartered Bank of
Australia by the 16th of July.
The half-yearly dividends are advertised on the
following stooks, viz. :—Alabama State Sterling Five
pm Cents. (Mews. Gowan and Marx); South Caro-
line Bonds (Messrs. Palmer, Mackitlop, Dent, and
Co.); and Richmond, Fredericksburg, and Potomac
Railroad Six per Cent. Bonds. (Mesas. Thomsoa
Harkey and Co.)
The Admiralty will receive tenders on the 22nd of
July for the supply of 20,450 bolts of canvas.

MONDAY EVININO.

Nearly all the Stock Exchange markets are rising.
The further advance in the fonds to-day was limited
to I per cent., business being inactive, but railway
shares met with increased attention, and experienced
a fresh general advance. The rapid influx of gold
into the Bank is now telling upon the money market.
Good bills oat be discounted at 4} per cent, and in
the Stock Exchange to day loans were obtainable on
stock at the reduced rate of 3to 4 per cent. Under
I
Si
these circumstances it is clear that the Bank most

either promptly reduce ita rates, or lose its business.
Next Saturday falls due an instalment of one million
en the new loan; but, on the other hand, the mass
of dividend money will be released in little morn
than a fortnight, and will add largely to the supply
of capital seeking employment. In the belief that
we an on the eye of a farther general reduction in
the value of money, investments are stimulated in all
quarten.

Cowls opened at Saturday's closing quotation of
941 to 1 ex div. for the 10:h of July, and were
last quoted 941 to . The official badness report
is as follows :—Thrse per Cent. Consols, for account,
10th July, 941, 961 ex die. Three per Cent. Re.
dead, 941, 4 1. New Three per Cents., 95/, 1.
Three-and.a.lialf per Cent. Exchequer Bonds, falling
payable in 1869, 991. Comeol Scrip (New Loan), 31
prem.l India Bonds, 141. prem.
The scrip of the New Loan closed at 3 to
31 pea.
Exchequer Bills were strong, at 10s. to 13s. prem.,
with a good inquiry. Exchequer Bonds were quoted
991 to /.
In the foreign stock market attention is still chiefly
directed to Turkish Six per Cents., which to-day
attained a fresh rise of about 1 per cent., closing at
103 to 1. The Guaranteed Four per Ceuta. advanced
per cent., leaving off at 1041 to 106. All other
securities in this department remain firm. Russian
stocks, especially the Four-and.a Ralf per Cents.,
were In request. New Granada Bonds also met with
some business. The Spanish Coupon-Certificates,
however, have been more offered of late.
The accounts from Paris afford some interesting
details relative to the state of the Bourse and to the
causes of the severe depression which bas prevailed
sines the beginning of the month. It would appear
that many of the great capitalists, including some of
the powerful financial societies which have lately
extracted such large dividend, from the necessities of
weak speeslators for a rise on the Bowes, bad begun
to feel reasonable misgivings that they could not
continue to prop up the current rotten speculation
without exposing themselves to serious toss. It was
felt to be essential to safety that the market should be
purged of a large mass of the more embarrassed
buyers. With characteristic disregard of the remelts
to this unfortunate eases of operators, the leading
mosied haws and societies of Paris have poured
on the Boers@ for immediate realisation an immense
Gamma of matte and shares. The deliveries of secu-
rities at the beginning of June and at the half-
moothly share settlement of the 15th inert., are esti-
mated at no less than nix or seven millions sterling.
Of course the Bouree—previously surcharged as it
was—was too weak to absorb so large a supply of
stock, and prises rapidly declined to a point which
rendered a emerges body of speculative buyers
unable to most their diagnoses." As moat of these
operators bad, is acidities', effected further purohanse

r for the account expiring at the eel of the present
month, the rules of the Bourn necessitated the forced
closing by the authorities of a multitude of accounts
representing an enormous aggregate. This process
of "executing" the speculators for a rise being nowt
it is believed, mainly over, many persons consider the
position of the Bovine as essentially firmer, and look
for a fresh influx of new purchasers in lieu of those
who have been ruined. It is also assumed that the
rates of interest at the next settlement will be less
onerous than of late, especially as the capitalists who
have recently effected such heavy realisations wi I
be anxious to employ the money. The supply of
money will also be increased by the payment of the
half.yearly dividend falling due the 22nd iost. ou
the Three per Cent. Rent's, by the Ciddit Mobilier
Sociey's dividend of 840,0001., end by the
release of the halt-yearly interest on the shares of
the Northera of France and Paris and Lyons
Railways, as well as on a large number
of obligatioce. Eoglish capitalists are like-
wise remitting money to Paris for investment in
favourite securities at the lower prices now careen%
On the other hand must be borne io mind the con -
'tut absorption of capital for the bonds of the oid
railway companies, in addition to the requirements
of more recent projects.
By an accidental error yesterday the capital of the
newly-projected Credit Mobilier Society for Belgium
was stated at 200,0001., instead of 1,200,000 r.
Lombardo•Venetian Railway shares, for which thia
was specie l set tlio g• d ay, rallied to- day toy! pre m.,be in g
apparently rather scarce in the market. The closing
quotation was 54 to 5j prem. Riga and Dunaburg
Railway shares were quoted this afternoon 21 to
prem.; Western Railway of Austria, 11 to 21 prem.;
Euphrates Valley Railway, to 1 prem.; and Ceylon
Railway, 11 to 11 prem.
The shares of several of the new banks were in in-
creased request to day. Ottoman Bank closed at 2;
to 21 prem.; Bank of Egypt, at a toy prem.; General
Bank of Switzerland, at par ; National Discount, at
5.16 to 7-16 prem.; and Western Bank of London, at
par to 1 prem. Other bank stocks were steady.
Canada Land shares were fl otter, and South Australian
' Land better. Victoria Duck shares have advanced
to 1 to 2 prem., and Peninsular and Oriental New
Shares to 6to 8 prem. St. Katharine Dock stock
was dealt in at 85 ; Australian Royal Mail, at 3.1;
General Screw Steam, at 141; and New Brunswick
and Nova Scotia Land, at 20. The Acadian Iron
Company's shares were quoted toy prem. ; Char-
tered Colonial Fibre, par to prem. ; and English
Fibre and Paper Manufacturing, par to 1 prem.
According to a telegraphic despatch from St.
Petersburg, the decree granting the concemion of the
Riga and Dunaburg Railway to the company lately
formed here has been signed by the Emperor. All
the requisite documents are expected to be received
in London this week, preliminary to the appointment
of a settling day in the shares by the Stock Exchange
committee.

MINES.-THIS DAY.

Two o'Ctocz.

In the market for British mining stocks some of
the chief transactions are is Alfri d Consols, South
Telgus and Drakewalls shares, all of which show
firmness.

National Brazilian shares are in request, and are
marked 31 and 3}. In the Stock Exchange. Santiago
de Cuba shares have also been dealt in at 41. Other
foreign mining et•curities are inanimate.
Subjoioed is • list of yesterday's transaction, in the
Mining Exchange and Stock Exchange:
Minfog Exchange official list :
Alfred Consols, 15/, 161, 1, 151,1 /, 161 ; Cook's Buchan,
835.61.; Devon Buller, 208.. 21e. 225. 64.•' •Drakewalls,
32a. 61 , 351.; Great A' fred, 2f, I,}; North Basset, 34i,
South Coodsurow, 11e.: Bonus Tolgue, 120, 1221, 126
Testy Coasol., Bs. 61.; Trevreths, 31. I ; Wheel Basset,
320. 326.
In the Stock Exchange :
North Basset, 361. 36 (with dividend) ; West Basset, 34;
Great Poloootb, 1,1 • Wheel Render, 21, j ; South Devon,
I ; Fort Baweo, J. 31 , 3s. 91.
The prospectus of the Ruhrort Coal Mining Com-
pany I. issued. The company is possessed of twelve
co cessions of a coal field, comprising upwards of
3.000 English acres, in the valley of the Ruhr, abut-
ting on the Rhine below Dusseldorf. From the faci-
lities of transit by water and railway, and from
the extent and quality of the seams, the
promoters deduce the infetenee that the coal
can be produced at a ooet calculated to
yield a very remunerative return. The capital
is fixed at 159,9961., in 26,666 shares to bearer
of 61. each. This capital is stated to be amply soffi-
cient to provide for all expenses, and to establish a
colliery with two pita doable of supplying with
ease from 200,000 to 300,000 tons of coal per annum.
The sum to be paid for the twelve concessions is
30,0001. in cash, std 59.0001. in shares. Inde-
pendently of the purchase of the property, it is men-
tioned that upwards of 20,0001. has already been
expended upon the works, &c. The advisability of
selling or leasing a portion of the company's coal-
field is to be hereafter considered. The company is
established at Cologne as a Some.e en Cocomandite,
with limited liabLity, and is to be formed into a
Societe Anonyms. A deposit of 21. per share is to
be made upon eubscribing. Until the works ere in
operation, five per cent. interest is to be paid :o the
shareholders.