The Express.
London, England, 1859-03-28 00:00:00

THE EXPRESS, MONDAY EVENING, MARCH 28, 1869.

THE LONDON ILECHANICIT INSTITUTION.-
MEETING AT WILLIES ZOONS.-/THIS DAY).

Thin afternoon a public' meeting wu held in
Willis's Roans, St. James's, for the purpose of organising a
subscription in aid of the funds for the purcha.c of the pre-
mises occupied by the London Mechanics' Institution.
and releasing the trustees, of whom Lord Brougham is one,
from their Ilabilitlem In respect thereof. The Earl of
CartusLe presided, supported by Lord Ferersham, the
Bishop ,f Bt. Davide, Mr. Blaney, M.P., Mr.
Prank Crossley, M. P., Mr. W. Brown, M.P.

A report wa'Orrad ectting forth the benefits which see doe
to the Londo• Mechanics Institution, •nd stating its pre•
sant difficulties. To this report was added • list ei

subecriptlens amounting in the whole to 1,8841. Amongst
the subscribers are H.R.H. the Prince Consort, 1001.; the
Duke of Bedford, 1001.. Earl of Fortescue 1001.; the Led
Murray (Scotland), 1004; Marsaie of Laeuriows,lool. ; Zed
Fltzwilliarn, 1001. , Barmen de Goldsmkl, 1001.; the Liver.
pool Institute, 601. ; Sir Fitzroy Kelly (Attorney-Gators%
601. , the Duke of Devonshire, 601. ; Edward blejorihanks,
Esq., 301. • Lord Stanley, 261. ; the Earl of Radnor, 261.
Lord Sr. Lenard's, 20/. ; and the Earl of Dundcaald.

Tlu following Wire from Lord Brougham wu also raid :

(Copy
"Cannes (Ver), Franca March 24.
" Sir' —I have received your letter stating that a meetings
is to be held on behalf of the London Mechanics' Ina&
tattoo, and I used hardly assure you how caseload
I am of the importance of this proceeding. The
greatest exisepprehensioss have prevailed respecting
the h.story of that institution ; and its lama-
meld. services to the improvement of the wor
Blass have been of late year' overlooked or mina
as well ae the benefit' which Ire centinued ezertkes are
of bestowing. It I. therefore to be hoped that the
Minable. under which it at present labours maybe removed
by the contemplated proceedings.
" I lament exceedbigly that I can do little more than give
my geed webs. to this good work, bet my means ere very
limited, end the demand. upon them have no limit whatever.
" each a meeting ea you announce can never be held
without bearing In grateful remembrance the founds et
dis institution, and they who question Dr. Birkbeck's
deans to tide great distinction have only been able es
state that other' bad some mouths before broached the
idea of such • ries& But twenty or thirty yam beton
be had laid the foendations of all that has since bees dose
by &Breda( 11.0111110 et lectures to working mem, an that
the great slop mei be regarded in having been made by him
at the begilemig et the caster', and not in 1823, when we
both humid end aedoved the London Institutime-1 have
the boom le be your faithful arid obedient *levant,
(Signed) "BaOVOILAId."
"So T. J. Pares% Esq. 29 Southampton-buildiags."
9

After ea eloquest address from the chair nen, the iothw-
legreeelsilees were usenistoutly speed to, the apeakere being
the der. David, LorttYlevemion, R.W. Brows. M.P.,
Mr J. Mmeliea, M.P., Mn. P. Cremator, M.P., Mr. Sla-
w,
M.P. AMomen Ifteeb, ask several gentlemen coa-
seeted with the billimike.
"I. The Lake leibution ba=lesethe
lbet =e :
e hied Iseliteled /kW sad, mad
filmikkelilikeekkeziebeese,
=el ketractios of art the arta to awe the.
26,000 of its own mielhere, ibereby easefalkkes eel week
to War meow is lib, bet to the kertrlel d the
me_i_eist yammers • Wren claim epee Newt and
"Mtet abbeetesh the man suberriptiose regebel Ikea
the ambles haw hem wittiest until receolky ha meet the
emu* mimeo of the birAtte ism. yet the heavy reet
br the yeembes Soetlei Dellkese,lme
=task
et diem piremesi may bipereemseie la the
=rbee beteg Mbeted, sod • sesthedleil mem el
em belesgpmeeed, bet has et tenth 'evolved the
leetleatik k eml that in order to giro it the
ems Moiety inlet eekyol by any establehmeate de.
ekes" kr the r
em d et tree "sift deem, foods should
be mind by peaks aelearikke el.md to =doe is with
the Web. eesephs."
" 3, The Aka meeelseed in skirt reeolution, viz.:—The
pentiale et the belikers wispiest by the I win:Leon. le the
mom kebab beekea, It attained. the eurvivWe inmates,
iced Dreegleata sod Mr. Joehue Walker, will thereby be
mimed beet the heavy liabili.ks which with past public
spirit they Mau red at the foundation of the instead= by
Wombs brew of the premises."
A kW el think wee weed to the Priam Consort dir
hb liberal loaaticamed with a similar casepllment le the aohle
ehabues the procmdimp %imitated.

SHAER LIM-ISIS DAY.

Two WCLoa& Ca
The railway share market to-day is extremely
inanimate, and prices in nearly every instance are F 4
quoted the same as at the close of business
on Saturday. Lancashire and Yorkshire and 1103
York and North Midland Woks are rather
more offered. London and North Western
stock is now quoted 96 to f ; Lancashire
and Yorkshire, 941 to 944; Midland, 101
to Great Western, 681 to ; &nth
Eastern, Ilk to 1 per share; Caledonian, 84
84 to 1 ; Berwick, 921 to 93; York an
tod North
Midland, 784 to 77; North British,
Eastern Comfits, 12 to per share.
French railway shares are well supported,
Northern being gated 374 to I, end Pao and
Lyons, 334 to 4. Lombardo-Venetian are
rather weaker ; the old shares are quoted
1/ to 11 prem., and the new to prem. Bast
Indian Railway stock is dull, at 102 to 4, and the
new debentures at / to 13 prem. Geelong and
Melbourne shares are weaker.

is ii mg
64 OS
.100_ lel_

/II Dig

FA 4,14 d„.
103 104
103 104
108 104
If 109
lit Ii
19k 10
114 11.
es

L.

MONEY MAREE7-2131:1 LAY.

Two oPOLoci.
Throughout the Stock 'Exchange to-day extreme
dulness prevails. Scarcely any business is going for-
ward. The French funds are telegraphed as being
quoted this morning at • fresh redaction, but
Consols are supported at the closing quotations of
Saturday. In other securities the variations are like-
wise very unimportant.

Consols are very quiet at 961 " buyers" for
money, and 961 to 1 for the 7th of April.
The Indian Four per Cent. Debentures have been
dealt in at 97i to 98*; India Bonds, at 14s. prem. ;
and Exchequer Bills, at 325. to 365. prem.
The foreign stock market is equally inactive. There
are still inquiries for Mexican Bonds. A few sales of
Russian Four-and-a- Half per Cents. have been effected
for account of persons who cnitemplate subscribing
to the coming loan. The Turkish Loan of last year
remains quoted 781 to 791, whilst the old Six
per Cents. are rather firmer, at 921 to 93.
Bales are recorded as follows : Austrian
Five per Cants., 73 (exchange 10 f.); Mexican
Three per Cents., for account, 21*; Portuguese
Three pee Cents., 1863, 451, 43/ Russian
Four-and-a-Half par Cents., 100/, 100/ ; Sar-
dinian Five per Cents., for account, 811 ; Spanish
Three per Cents., 441; Turkish Six per Cents.,
1834, 921; ditto for acct., 921, 92/1 ditto Six per
Cents., 1838, for soct., 791, 791, 781.
Mr. Reuter's telegram quotes the opening official
price of the French Three per Cent. Bente& at Paris this
morning at 68.46 for the account, showing a
further decline of nearly per cent. compared
with the last price of Saturday.
It appears from Lord Derby's explanations that
the immediate arrangements of the government for
the despatch of silver to India comprise a total of
1,000,0001. The packet of the 20th inst. took
350,0001. on government account, and that of the
27th takes 340,0001. Probably the remaining
310,0001. will be sent by the steamer of the 4th
About 30,0001. in gold was on Saturday with-
drawn from the Bank for remittance to the Conti-
nent, in payment for silver.
The rate for the best bills is 2/ per cent., and from
the impending demands for Russia and India,
coupled with the drain of silver, an easier state of
the market is scarcely probable.
Nothing fresh has transpired respecting the Rue.
sian Loan negotiation, jut concluded. The receipt
of the requisite documents from St. Petersburg it
awaited. Numerous applications from the Continent
hays already been made to Messrs. Thomson, Boner,
end Co., the London agents for the loan. Seventy-
five millions of silver roubles are equal to
11,250,0001., taking the exchange at its present rate
of 36 d., or to 11,876,0001., taking the exchange at
38 d. The amount of the proceeds in cull will, of
course, depend upon the price at which the loan may
be issued.

The fortnightly settlement in shares and foreign
stocks will commence to-morrow ("making-up day")
and terminate on Thursday.
A further parcel of 25,000 sovereigns is on the
way hither from Constantinople, and additional bat
Ihnited sums are likely to follow.
The 116,6001. in gold by the Tornado is expected
to be taken for the Continent.
The imports of the precious metals last week
were considerable. Our list includes 46,9001. by the
Sir William Eyre, and 116,600/. by the Tornado,
botk from Melbourne; 118,0001. by the Magdalena,
from the West Indies; 45,0001. by the Canada, and
86,8001. by the City of Baltimore, both from the
United States; 28 begs of specie by the Amazon,
from New Orleans; 1,7201. by the Tagus, from the
Peainsula ; and 20,000 sovereigns from Constan-
tiles arrivals represent an aggregate of about
380,0001. In addition, supplies of silver to an enor-
mous amount have been received from the Continent.
The Custom-house weekly statement of the exports
of the precious metals direct from London includes
12,350 minces of gold, despatched chiefly to Belgium,
and 800 ounces of silver, represe.nting a total value
of about 48,0001.
In addition the Behar (as already reported) takes
for Bombay 622,6091., nearly all silver. The whole
of the gold imported, and actually delivered, has
been sent to the Continent, in addition to the mo-
derate amounts taken from the Bank.
At St. Petersburg the exchange on London has
risen to 3431 d., owing to the negotiation of the loan.
In furtherance of the policy of popularising in
England the Promissory Notes of the Indian loans,
the Secretary of State for India has issued an im-
portant notification, which abolishes one of the
restrictions enforced, and much complained of, in
previous notifications. It is provided that,
" On and after the lit May next promissory notes
of the Indian loans which have been seared foe
payment of interest in London by drafts on India
may be registered in books to be opened in this office,
so as to admit of the sale and transfer of the whole
or any portion of such property, in even hundreds of
rupee". When holders may desire again to receive
their interest in India a certificate of the amount
striding in such register will be given to them, to
be exchanged in Calcutta for promissory notes as
before."
The subjoined communication, notifying the defi-
nitive establishment of the new bank which has
been so long in course of projection in Paris, was on
Saturday submitted by Mr. C. W. Price, a member of
the Stock Exchange (who has signified his willing-
ness to take charge of subscriptions), to the commit-
tee, and by them publicly affixed in that establish-
' mint

To C. W. Price, Esq., London.
The Minister of Finance bee just 'auctioned the public
subscription ordered by the Coundl ad /Mate for the
..Bocifte (Unirale de Credit laduabied et Oensensrlil."
Are you desirous of takisi en intend in the 'realignment
of this new book ? A public setbieription has been stipalend
for by the government, although the capita was offered by
the founders; end we are desirous that oar friends *hada
sot low through the public subscription the is which
we reckoned upon reserving to them under • ptivate sub.
earl —Rendre, dtc.,
(Sie DONON, AVIS; GAVTIIIII, AND Co.
Parts, March 23,1869.
The capital of this " General Society of Industrial
and Commercial Credit" will be 60,000,000 of franca,
or may 2,400,0001. sterling, in shares of 600 f., or 201.
each. The undertaking is apparently designed to
act u a counterpoise to the influence of the Credit
Mobilier Society.
A report of the directors of the Great Western
Railway of Canada has been issued. It appears that
the balance.of revenue account is equal to a dividend
et the rate of 4 per cent. per annum, but a deduction
bas to be made arising from the " accident account."
The directors express a belief that " the worst has
peeled, and that a gradual improvement will take
pie* in general trade, and therefore in the traffic
et this railway."
The report of the directors of the Smyrna and
Aidin Railway expresses their "unabated confidence
in the eventual success of the undertaking," states
that the coatractor is prosecuting the work with
" vigour and despatch," and remarks that " the neces-
sary arrangements will be made for the company
being replaced upon the Stock Exchange list as soon
as possible."
The meetings of the Belgian Eastern Junction
Railway Company, nom ly advertised, have been
adjourned for one month.

• Mar ILDAT EVIINTWO.
Console, which closed yesterday at 96 to 1, for
the 7th April, opened this morning at 951 to 1.
The closing quotations were 951 to I for money, and
981 " sellers," for the account. The official business
report is se followsfour per Cent. Cacao* for
wormy, 951, 931; ditto, account (7th April),
951, 951 ; India Stock, 220 ; Indian Four per Cent.
Debentures, 971, 981.
Exchequer Bills remain quoted 335. to 345. prem.
The Indian Four per Cent Debentures exhibit a
fall, being marked 971 and 981.
The foreign stock market was dull. The new
Turkish Loan has again fallen 1 per cent., closing at
781 to 791. The Old Six per Cents. left off at 921
to 93, being per cent. worse than yesterday.
Mexican Bonds were quiet at 211 to 1.

Scarcely any alteration occurred to-day in the
market for bank shares. Theee of the English,
Scottish, and Australian Chartered Bank were rather
more offered. The shares of the Red Bea Telegraph
and Madras Irrigation Companies participated la
the general depression of Indian securities. Rut
and West India Dock suck cats officially marked
125, and General Steam Navigation shares 261 and
25. The shares of the Whittington Estate and
Colliery Company were quoted 3to prem.
The New Four-and-a-Half per Cent. debentures
of the Beet Indian Railway Company have declined
Ito t to 11 prem.