The Express.
London, England, 1859-04-29 00:00:00

THE EXPRESS, FRIDAY EVENING, APRIL 29, 1959.

lbws big se ear andiftoss, two hon. milson
ed *Om. sal pesposel sad receded • vote el
imams Os islorelp=elia vas Italy ackaowledial.
Ils pearibp

OREENWICH.-(T1118 DAY.)

This morning Mr. Alderman &daimons, Mr. An-
gorstsia, Mr. Montagu Climbers, Q.C. (Ittersla), and Sir
J. H. Maxwell (conservative), were put to nominattes at
Oreenwkh, and the show of hinds declared to be in favour
of the two drat.

A ;oil was denanded for Mr. Chambers and Sir I. H.
Maxwell.

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MS I

MONEY MAREBT.-THIS DAY.

Two etn.oltr.

The stock markets are still extremely unsettled
and sensitive, but the panic is apparently sub-
siding. Sixteen more members of the Stock
Exchange have this morning been declared unable
to meet their engagements. In several important
instances compromises have been effected.
The funds opened with a stronger appearance, and
at one period • rebound of 1 per cent. was shown. A
relapse has since taken place, and the present quota-
tions are only about 1 per cent. better than the
lapsing prices of yesterday.
In the other departments of the Stock Exchange
there is a partial return of steadiness, but the actual
improvement in prim is in few cases important.
The Three per Cent. Rentee were dealt in at
Paris this morning before the official opening of the
Bonnet, according to Mr. Renter's telegram, at
62fr. 460. for the account, showing a decline of
nearly 1 per cent. compared with the last price of
yesterday.
Consols, which closed yesterday at 891 to 1, for
money and the sth of May, were first
marked this morning 901. The highest
price touched was 90t, and a relapse has since taken
place to 891 to 90. Bank Stock has been dealt
in at 215 to 220 ; the Three per Cents. Reduced
at 88} to 90 ; the New Three per Cents., at 88t
to 90 ; the Indian Four per Cent. Debentures of
lest year, at 90/ to 911; the scrip of the New
Indian Loan, at 90 to 911 ; and Exchequer Bills,
at 6s. to 20e. pram.
Sales of the Old Turkish Six per Cents. were
pressed this morning as low as 80, and of the New
Loan at 60, bat • marked improvement has
since taken place, and the present quotations
are respectively 85 to 70 and 66 to 80. Russian
Four-and-a-Half per Cents. are in better
demand. As regards other foreign stocks
the market is still very unsettled. Sales
are recorded as follows :—Brazilian Old Five
Cents., for account, 97 ; Mexican Three per Cents.,
171, 161, 171 ; Russian Four-and-a-Half
per Cents., 89, 90 ; Sardinian Five per Cents.,
88; Turkish Six per Cents., 1854, 82t, 80, 88;
ditto for account, 85; ditto Six per Cents., 1868,
60; ditto, for account, 64; Venezuela Five per
Cents., 37 ; ditto Deferred Two per Cents., 16, 181.
HALF. PAST TWO O'CLOCK.
Consols have fallen to 891. The Threeper Cent.
Renter come quoted from Paris 82fr. 25c., being
again lower.

Eons o'Ctocx.
Renewed depression has arisen, and Consols have
declined to 89 to for money and next Thursday.
In the existing critical condition of foreign
politic!, there is no disposition to cavil at
the promptitude of action displayed by the
Bank. Decisive instead of half measures accord
beat with the present phase of the public mind. It
is probable that the extension of the area of disturb-
•noe on the Continent will ere long cause the diver-
sion to this country for safe keeping of a large amount
of foreign capital released from its ordinary channels
by the paralysis of trade; but, meanwhile, the distress
of the foreign markets may stimulate attempts to
procure temporary assistance from this side. As
likely to defeat these efforts and to check the drain
of gold, the action of the Bank of Eng-
land is generally regarded in the light
of • prudent precaution. At a period when
our trade presents so few feature. suggestive
of anxiety, the effect of yeaterday's measure upon our
home interests can scarcely prove onerous. Three
and a half par cent., after all, is a very moderate
rate for money. Little damage need be occasioned
if the commercial community recognise with confi-
dence the oomparative solidity of their present posi-
tion, and abstain from any movements calculated to
aggravate what may otherwise prove a merely
momentary pressure. In some quarters where loans
appear to have been accorded with undue facility
there is now the usual refusal of accommodation.
Loans are hastily called in, and much inoon-
vience occasioned. This rash and spasmodic policy
is greatly to be deprecated. The mercantile
world, on their part, are called upon to exercise a
certain degree of self-restraint. It is idle to make
provision in ems, of all possible requirements
merely for the satisfaction of strengthening one's
banker's balance. Should this example spread, the
advantage will be exclusively confined to the money
dealers, whilst the inconvenience may be generally
diffused. _

The demand at the Bank yesterday was large, but
not so heavy as =Wednesday. Applications lodged
prior to the sitting of the Bank court—viz. halt-past
eleven o'clock—were liberally admitted upon the
old terms. In the general market the rates have
been at once modified in accordance with those of the
Bank. For good bills up to 80 days, the rate in
Lombard-street is 3} per oent.; and up to 75 days,
3h to 4 per cent. For paper having a longer period
to run, higher terms are demanded.
The Joint Stock Banks Dave raised their rates for
deposits from to 21 per cent. The London and
Westminster, however, allow_only 1I per cent. for

rums under 6001. Messrs. Overend, Gurney, and
Co , now give per cent. for money payable on
demand, 2} percent. subject to three days' notice of
withdrawal, and 3 per cent., with seven days' notice.
It is only fair to the Stock Exchange to remark
that of the eighteen failures announced yesterday
only one was of real magnitude. In this instance the
liabilities are enormous, being estimated at 76,0001.
or upward', arising from immense transactions in
Consols, Turkish and Mexican Bond', and English
railway stocks. The circumstances of this case have
excited great animadversion, after making every
allowance for the acknowledged overthrow of all
reasonable calculations by late events.
The settlement fixed for the end of this month on
the Paris Boone is looked forward to with the direst
misgivings.
At Frankfort on Wednesday a great rebound took
place in Austrian stock, but at Vienna continued
and extreme depression appears to prevail.
Owing to the demand for silver for Hamburg the
quotation here has advanced to 621 d. per ounce
standard. The amount purchased is not more than
about 60,0001., but further orders will probably be
executed, and the supply at present is limited.
Enhanced war lilacs were established at Lloyd'.
yesterday, but the quotations varied according to the
vessel's cargo, date of sailing, destination, &c. In
the case of a Hamburg vessel, on a voyage to the
Pacific and back, 10 guineas per cent. was paid.
The sum to be paid for the eight ships lately the
property of the European and American Steam Com-
pany is 236,0001. Theurchasers are represented
by Mesas. W. Lever, John Margetson, and
Capper. Unless resold to the French government—
s contingency to which a considerable degree of im-
portance attaches at the present juncture—they
_ will
probably be employed to trade between Milford
Haven and America. Messrs. Croskey and Co., in
association with other gentlemen, offered 270,0001.
for the vessels, but the offer was not aceepted—a
circumstance apparently demanding explanation.
10,0001. of the purchase-money was paid this morn-1
ing as a deposit. The sum agreed upon will, it is
feared, leave very little, if anything, for division
amongst the ordinary shareholders after payment of
the preference and trade liabilities.
The Eastern Counties Railway traffic return skews
this week a decrease of 8861.; the Lancashire and
Yorkshire, an increase of 3,2431.; the East Lanca-
shire, an increase of 1,0761. ; the Manchester, Shef-'
field, and Linerdnakire, ea imam of 1,6311.; the

Midlead an increibe of 3,2331.; and the North
Eastern an increase of 6631. (compared with the
" actual" receipts for the oorresponding week at
last year).
The London and South Western Railway COa
piny advertise for Monday next the opening of the
first portion of the Salisbury and Yeovil Railway,
between Salisbury and Gillingham.
The annual general meeting of the Globs
Insurance Company was held j•esterday,at the offices
in Cornhill. The chairman (Mr. John Edward John-
son) gave a favourable report of the business of the
last year, the result of which had allowed of a con-
siderable addition to the rest or surplus in favour
the company over and above all its liabilities. A
dividend at the rate of 6 per cent. per annum (free
of income tax) was declared, and Mr. Alexander
Mackenzie, the retiring auditor, was unanimously
re-elected.

Au extraordinary general meeting of the European
Gee Company is called for the 13th May, to con-
sider the propriety of dividing the 20/. snares into
101, shares, and of incorporating the company with
limited liability.

THURSDAY JIVED. 11. C.

Console. which were quoted about 4 o'clock yester-
day 901 to I (subsequently recovering about 1 per
cent.), opened this morning about 881 to 89. The
lowest price touched wu 881 to 1, whilst tranuctions
were at one period recorded as high as 891. About
a quarter past 4 o'clock a further improvement to
891 to 90 had taken plaoe, but the latest trust-
worthy price that can be given was 891 to
Tboth for money and the 6th of May.
The official business report is as follows :
Three per ('but. Console, for money, 89, 881, 891,90,
89, 891, 881, 891 ; ditto, for account (6th May),
881, 881, 891, 90, NI, 89, 68i, 891; Three per
Cents. Reduced, 88, 87, 881, 87, 871, 881 ; New
Three 'par Cente., 88, 871, 881, 89, 871, 87t ; Thirty
Years Annuitiee, expiring in April, 1886, 171 ; Bank
Stock, 218, 220 ; India Stock, 217, 221.
The New Two-and-a-Half per Cents. were also
officially marked 77.
In the foreign stock market prices are still for the
most part nominal. Only in a few instances. where
sellers were willing to submit to a further serious
reduction, were transactions practicable.

MINBB.-THIS DAY.

Two o'CLocs.

The mining market is 'till little affected by the
depreciation of other classes of securities. Prices in
most instant*, are fairly supported. Amongst the
transactions reported to no this morning are the fol-
lowing, viz.:—West Beton, at 410; South Frances, at
202; Wheal Mary Ann, at 45i, 46k, and 47 ; Wheal
Trelawney, at 30 and 31 ; Wheal Margaret, at 74;
West Caradon, at 88; and Bast Basset, at 216.
Foreign and colonial mining shares remain dull
There are some inquiries, however, for Fortuna
Mining, which are marked