The Express.
London, England, 1858-08-20 00:00:00

LOCAL BHARB MARVIN.

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As was anticipated, the failures at Calcutta re-
ferred to in the Bombay telegram prove to have been
those announced by the last direct Calcutta mail.
It is possible, however, that the next mail from the
latter port may bring news of further difficulties.
The Bank of Bengal have declared a half-yearly
dividend, at the rate of 12i per. cent per annum.
It appears that the recent rule in French railway
shares has been stimulated by the "execution," or
forcible closing of the accounts, of a number of weak
speculators for the fall.
The forthcoming dividend of the North British
Railway Company has been officially announced at
the rate of 2; per cent, per annum, against the same
rate foe the corresponding period of 1857. The
balance to be carried forward as about 6001.

The shares of the lied Sea and India Tele-
grsph Company were in good demand yester-
day. With a view to determine the degree of
risk attaching. to this absolute 41, per cent go-
verment security, the terms of the agreements re-
fined to in the prospectus are scanned with • good
deal of interest, and the deductions are satisfactory.
The risks attendant upon the laying down of the
submarine wire are assumed, not by the company,
but by Messrs. Newell, who engage to hand over
the line in working for a axed sum. As-
suming that the wire is successfully laid
down, handed over, and subsequently broken,
beyond the power of the company to repair it,
they are apparently amply protected by the 10th
clause of the agreement entered into with the British
government, which provides that : " In ease of de-
fault by the company in completing or reinstating
the line, or working it ethcienUy, the directors of the
company to be required to give up the line to the
Lords Commissioners of the Treasury, on the latter
paying off the capital paid up, with Interest at di
per cent., per annum from the date of the last
dividend.'

The sum paid on the Cape Town Railway and
Dock Company shares is only 24., but a call is ex-
pected to be made now that the eompany have con-
cluded their contract with the authorities.

A fall of { to 2 per took plane yesterday in the
stock of the Grand Trunk Railway Company of
Canada, upon the publication of the new financial
plan of the London directors. The ordinary
debentures were steady, but the six per cent. pre-
ferential debentures, upon which 80 per cent. has
now been paid, fell heavily, being nominally quoted
10 to 6 die. and officially marked 6 dim.
The Eastern Counties Railway traffic return
shows this week an increase of 1,1181.; the Man-
chester, Sheffield, and Lincolnshire, a decrease of
t 921. ; the Lancashire and Yorkshire, an increase of
SW. ; the East Lancashire, an increase of 131. ; the
North Eastern, a decrease of 1,6781. Compared with
the " actual " receipts for the corresponding week of
last year ); the Midland an increase of 1,7771. ;
and the South Eastern an increase of 1,1961.

A meeting of the Berlin WaterwOrks Company
was held yesterday. The report of the directors
mentions that the pipe system has not fully answered,
and that the pipes 'nil consequently have to be
relaid, which will oat 16,0001. The extended con-
cession has yet to meet the approval of the Prussian
government. The balance in hand amounts to
18,9661. The report was agreed to.
The half-yearly meeting of the Railway Pussen-
ms Assurance Company is called for the let
September.
A general court of proprietors of the London
Assurance Corporation is called for the 29th Sep-
tember, to madder of a dividend.
A project is on foot for an " Tale of Wight Rail-
way, to connect Ryde, Newport, Sandown, Shank-
lie, and Ventuor. _ . _

A quarterly dividend of 4 per cent. ie advertised
on the shares of the Copiapo and Caldera Railway.
A call of IL, making 61. paid, is to be paid on the
shares of the Copiapo Extension Railway Company
by the 16th September.
Tenders are invited from parties desirous of exe-
cuting the works of the first section of the railway
from Gilboa to Arrancudiaga, in Spain. The distance
is 16 kilometres.

The position of the market for American securities
is thus noticed by Messrs. D. Bell, Son, and Co. :

There has beta 'daring the gad meek a fair moment of
benzins doing in the several Ameba= stele seteriliss mad
inquiries for bandannas, wklok the eapecnefta
of sn improved market. In railroad sad shares there
is very little sinceialion goin cm • the transactions, there-
fore, have been lan, whilst oss ;matinee steady.

The report of Mr. E. F. Batterthwaite is sub-
joined :
we bent to sots ver limbed tmeneeollotte in Amadora
Bremares In Leedom Wing tha past week. Priam remain
without any important alteration.

_ETLI4I7(II.

The funds to-day showed Increased firmness.
Business exhibited no revival, but purchases predo-
minated, and a rise of rather more than 1. per cent.
was finally established. Investments to a moderate
amount are still stimulated from day to day by the
favourable tendency of the money market and of the
Beak of England accounts.
In the market for English railway shares some
indications of a tendency towards recovery were
observable, but the transactions seem to have been
chiefly speculative and limited to the dealers them-
selves.
Consols, for the 7th September, which were
quoted at 4 o'clock yesterday 961, " buyers," opened
this morning at 96; to 4, and closed at 96/ to 1.
For money the last price was 961 to 1. The govern-
ment broker made his usual small purchase. The
official business report is as follows :—Three per
Cent. Camels, for mosey, 961, 961 ; ditto for ac-
e:net (7th September), 961 ; Three per Omuta.
Reduced, 97, 971 ; New Three per Cents., 97, 97/,
97; 30 Years Annuities, expiring in April, 1886,
181, 18 946; Bank Stock, 224, 2274 ; Three-and-
s-Ralf per Cent. Exchequer Bonds, falling payable
in May next, 1001.
The Indian Four per Cent. Debentures were in
demand ; those of the first issue were quoted 95 to
1, and the second issue, 971 to 1.
The March Exchequer Ms remain strady at 30a.
to 335. prem. ; and the June, Ws. to 23e. prem.

PromiiTcuei7 Dolooath and Carmarthen Consols, Captain
Wlll. Roberts reports (August 14) :—" In the rise in the
back of the 70, 26 fathoms mat of the peat cross course, the
Lode is 2 feet wide, chiefly composed of oapel, soft spar, and
prian. In the 60 mat, the lode is 3 feet w ide, occasionally
producing stones of rich grey ore. In the edit seat of Brea
Valley the great cross• course has been driven through, and
the men are driving south for the purpose of trying to cut
other lodes. There are about 2 tons of ore on the doors.
Lest week two men took a pitch in the back of the 60, at
6s. Bd. in the pound ; it seems to be turning out well, and
the men are pitting good wages.
At North Basset, in the wines sinking below the 82, the
lode is yielding 2 tons of ore per hthom. The other puts of
the /RIM ere as usual. _

EastfaZaTe7naols (August 17) the lode in the en-
gine shaft is 4 feet wide, oompoeed of door and horn spar,
and at present is not so productive ea it has been, although a
wry promising lode. The lode in the 40 math is 81 feet
wide, and yielding 7 cwt. of lead per fathom. The dopes in
the back of this level w3l yield on an average about 6 cwt. of
lead pee fathom. In this level north the lode Is 3 feet wide,
end worth 6 cal. of Ind per fathom. The.. is no alteration
in the 20 north. The stapes in the back of the alit level will
produce shout 8 cwt. of lead per fathom.

T HUH/MAT iVialtlO•

The mining market to-day, though inactive, re-
tained a firm appearance. Holders generally seemed
disinclined to sell at present prices. The feature of
chief interest was a oonsiderable rise in United Mines
shares. There was also a demand for Great Wheal
V 01.., Gambler and St. Aubyn, and West Wheal

In foreign and colonial mining shares there wu
no movement of importance. Those of the Austra-
lian Mining Company have receded to 6e. to 10s per
shore.