The Express.
London, England, 1866-10-30 00:00:00

MONEY MARKET.-(THIS DAY.)

tins o'Owaz.
The dealings in public securities to-day consist
chiefly of sales, and prices have given way. There
is still little business apart from that connected
with the fortnightly settlement, which is
now in cor'se of completion. The funds exhibit s
fresh reduction of per cent., while some of the

British railway stocks have declined to I.
Foreign secu-ities are comparatively steady,
and the recent important advance in Turkish
bonds is fully ma;ntained. Banking and financial
shares aTe quiet. The Indian railway stocks are
iallainad for, in consequence of the satisfactory
character of the report just issued by the Great
Indian Peninsula Company. Anglo-American and
Atlantic Telegraph shares are again worse.
_ .

The demand for money to-day has increased,
owing to the arrival at maturity of a large amount
of Indian paper, combined with the Stock
Exchange settlement. The charge for good
bills is 4 per cent., with exceptional
business at 31. The rate for short advances on
English government securities is 3to per cent.,
being higher.
Consols are now quoted 891 to for money, 891
to j for the Bth of November, and 89} to a for the
new account (December).

The amount of business in foreign stocks is
limited, but prices arc steady. The only move-
ment in the speculative descriptions is a decline of
* per cent. in Spanish Certificates. Turkish Bonds
of 1862 are quoted 57l to 58} ; ditto, 1865, 301 to
1; Greek, 131 to 141; Spanish Passive, 211 to ;
ditto Certificates, 131 to 14; Italian of 1861, 55/
to 56/ ; Mexican, 15i to 161.
United Stew; 5-20 Bonds and Erie Railway
shares are without variation, at 681 to and iiol
to 1, respectively, but Illinois Central have
declined / per cent., viz., 77 to /.
Anglo-American Telegraph shares are freely
offered for sale, and have receded 7s. 6d., viz., to
141 to I. Atlantic Telegraph 8 per cent. prefer-
ence are also 3s. 9d. lower, at 41 to 1.
International Financial shares are quoted 11
to 1/ die. ; London Financial, 14 to 14/ dia. ;
General Credit, 1/ to 11 dis. ; Credit Fonder,
41 to 4i dis. ; National Discount, 91 to 10 prem. ;
and Hudson's Bay, lot to 17.
The mail from Guayaquil has brought a remit-
tance of 4871. ss. 10d. on account of the dividends
on the debt of Ecuador.

The following notices, relating to the New Gra-
nada dividends, have een posted in the Stock
Exchange :
Messrs. Baring Brothers and Co. have received on ac-
count of New Granada dividends :—Remittances from Cus-
tom-house of Santa Marta, 1,200/. ; from Custom-house of
Cartagena, 1401. Total, I,34ol.—London, Oct. 27. 1866.
New GRANADA DiviDraws.—Messrs. Berlin Brothers
and Co. have received by this mail, on account of New
Granada dividends4—From Custom-house of Cartagena,
546/. 3s. ; from Custom-house of Sal:militia, GlO/. 18s. Id.
Total, 1,1871. Is. 11—London, Oct. 29, 1866.

. ,
The committee decided yesterday that the Stock
Exchange shall be closed, as usual, on the Ist of
November (Thursday next), the day fixed for
striking the half-yearly balance at the Bank of
England, where the transfer offices will likewise
be shut. . . . .

There were no transactions in bullion at the
Bank yesterday.
The Shannon has arrived from the West Indies
with 264,0001. in specie, and the Teutonia, from
New York, with 10,0301.
The report of the directors of the Great
Indian Peninsular Railway Company, to be
presented at the half-yearly meeting on Friday
next, is unusually interesting, because this is the
first occasion on which an Indian railway com-
pany has shown a clear surplus profit over and
above the government guarantee, and accordingly
yielding to the shareholders a profit beyond the
guaranteed rate. After all deductions, the
half-year's net receipts were 423,9961., and,
deducting from this sum the half-year's
guaranteed interest, amounting to 364,3011.,
the surplus profit, after entirely reliev-
ing the government from all charge on ac-
count of the guarantee, was 69,5551., being
equal to 11. 4s. per cent. per annum on the paid-up
share capital. This is the more remarkable because,
in consequence of a large portion of the company's
system being still under construction, a part of the
capital may be regarded as at present comparatively
unproductive. The fact that the Great Indian
Peninsula Railway has earned a total net profit on
its share capital at the rate of 6/. 4s. per cent. per
annum, is full of encouragement to the share-
holders in Indian railway companies generally, and
can scarcely fail to stimulate the government
to deal liberally in the future with those
who are engaged in the great work of supplying our
Indian empire with the means of communication so
essential to its progress and development. Inas-
much, however, as, by the terms of the contract,
only one-half of the surplus profit is divisible
amongst the railway proprietors—the other half
being applied to reimbursing the government for
the sum already advanced by it for interest—the
amount to be received by the shareholders on the
present occasion is limited to ss. per cent., which
will leave a balance to be carried forward to the
next half-year's account. Reference is also made
to the sanction lately given by the Secretary of
State for India to the company's raining one million
sterling on Guaranteed Five per Cent. Debentures,
which are now being offered to the public.
The receipts of the Grand Trunk Railway of
Canada, for the week ending the 29th ult., were
34,3261. sterling, being 5321. less than last year ;
and those for the week ending the Gth inst., were
29,632/., being 2,156/. leas than last year.
An extraordinary general meeting of the Mer-
chant Shipping Company (Limited), is called for
the 14th November, to confirm the directors' pro-
posal with reference to the surrender of shares, as
lately described.
The South Eastern Railway traffic return shows
this week an increase of 1,586/. over last year.
We are requested to state that Mr. It. B. Starr
has joined the board of the Amity Investment Com-
pany (Limited).
With reference to the growing crop of cotton in
America, the following is from the circular of
Messrs. Neill Brothers and Co., dated New York,
the 16th inst. :
Our advice, on this subject are, as a whole, of pre-
cisely similar character to those published in our last. The
average Southern estimate is about 1.500.000 bales, while
the more candid and cautions admit that, in spite of all the
damage which the crop undoubtedly sustained by tbe Sep-
tember rains and worms, a yield of 2,000,000 bales is yet
far from im, robable in case of a late frost and a conti-
nuance of such favourable weather for picking as the
planters are now generall enjoj.ing. The receipts are
increasing, giving this week by telegram the respectable
total of 25,000 bales, and there is every prospect that
the necessities of planters will make them ready sellers of,
at least, the first half of their crops. Ii is therefore not
to be expected that prices will he long maintained on this
side, as at present, above the parit), of Liverpool. Either
that market must advance or quotations must fall on this
aide.

MONDAY EVENING.
Consols, which closed on Saturday at 89i to if 1
for the Bth November, opened and closed to-day at j
the same quotation. For money the last price was ,
89/ to il. The official business report is as fol-
lows I 1
:—Three per Cent. Console, for money, 89t, r.
k, 4,4, i ; ditto, for account, 89t, 4, il ; Three ! '
per Cents. Reduced, 87i, '/, 7 • New Three per ,
Cents., 87, 1., 7 ; Annuities, 1885, 13 ; India ,
Five per Cent. stock, losi, i ; ditto Four per ; ,
Cent. "enlaced" rupee paper,
84_; ditto Five per
Cent., 1011; ditto Bonds, 255., 2's. prem.
Inian government securities were steady.
Exchequer Bills remain quoted par to 4s. prem.
The foreign stock market was firmer to-day, with
an increased amount of business. Chili= A and B
bonds were in active request, and rose 2 per cent.
Turkish of 1863 also advanced 2 per cent. ' • ditto of
1858 and 1882, as well as Italian of 1865, 1
Turkish of 1865, a ; Braidlian of 1865, Danubian,
and Mexican, it ; and Italian of 1861, and Greek,