The Express.
London, England, 1867-05-02 00:00:00

a. germ 1 suss.

Na I

AngloArnericanTeL(Ls
Arigio4llexican Mat 1
Atlantic Tollifirsiiki • • • • I
Do. 8 per coot. 1
Australian Agri
cul
Australian M. Litlia.(l
EauiParLaitToliMOMela

&r BrliWaterveorks (Li
Do. No.
&lam Vaughan (L
Bombay her (Limbed
Do New
ID& Allairielli Lod

Kitt Mat.I.L(Ll
British Ship°lnsert;
Company
CanadianLoan.* Inv(L
Pylon Company
_Ditto A skarm_

.9blpet L.CoalL.
ty Diroount, Limited.
CltyorLoodoo/L Pro.(L y
City of MILD Impro.( L. I
Do.
City of Moscow Om (L )
ty Moos gam.)
(Limited) •• • •

onisiy!ial Until(

L Coe oi
Lel 1.1 :teat.,
Cop. 11. p.c.
C. Tom. of tWand X)
Do.of Maarlltaa(l.)
er.gPalace ...
:aketertec•
De. 6p. et. Parp. Dab
Dszjeeling (Malted)
Natters dram Tea (1
I.lndlaLutd,C.& Fin( L
N. India brig. &
bw Yale .. .
;lir' 71.11.
talVdr&Legraph
Do. New
Ing.&Aua.Copper (Lim
Nog. and Nereus Credi,
.& Seottitlegarlo.(
_.._._...-

(Warehouse
Milvara (Limited)
lenaralCreditd
las. Steam Navigatio,•
Nome_dColonial dna.
riongno:g d Chin
Lands. arseMse
Indian Carrying (Lim
tontat Finan.Soc.(L
pianist fend Credit: L
Italian Land
tallan IrrlB. (CaisCar
Do. 6 p• c. lids. r. 187'
d Securities(
od.dfrican Trading
o. & Caledon. W. (1 •
isCottoryLand,tll.(L
od. DistrietTeleg.(l
ad. Finan. Asa,. (L
Load. G. Omnibus C.(L
Lood.dOlsag.ltrig.Co.(
Load. Provincial Marino
Madras brigs. d Canal,
6p etg.bylndian(lov.
26 Marine Investment (L
10 Mauritius Land, de. (Is
10 Medit Brien. Tel. (Lt.
SO Merchant Shipping (
St tiWwall F.LeidDock(L
SO Willman Iron Works
10 Natal Land &Cot C. (L
IS National Dia. COO. (L
15 Do. New, lasuod p
18 National Prov.Marinie
ill* Natimial Steam Nay.(L. •
' 1 NarbeddsCoal&lroai
10 NewCoasolidat. Din (L.
5 New Quebrades Limited
N.7.ealsad L.
N.Lialand T.& Loan (L.
10 SOrtbOro Amok Toa(1.
10 Do. B
46. N. BrinAustraladan (L '
50 N. Brit. dMerean. In.(1 •
11 Ocean Marine (lowa. 1
50 Orientallrinaadak Lisa.)
OriewalOss(Limit4d)
5 Do. New
10 Orient Inland SMima(L )
10 (Naito d Sthland Invest
6 Ottoman One (Limited
10 Panama ICY &am( ,
I 6 Do. .
Bt. Peelliay. La dond& Min.(L
50 Peninaulard o.6oeasa
14 Do. do. New
N Ithyousey Iron
15 Do. New
• ,ty Imprev.(L )
10 Ko .l.
W Janeiro One (lAnn
100 Ilteyal Manna=
•• leot.Austra. lovest.(l 1
' &Egypte (L I
; 10
' 15 !SoathAustrallan
St Submarine Telegraph
1 I Do Scrip
500
67 ,16 `Tel.Coustroe.dllain(L.
, Do. Do.
100,540 , iThamead Mersey 10.(i)
7,540 10 Trinidad remain= (L;
117,6001 10 Trust*Agancy or=
50 ,000 SO T. &L. Co. of U.
100,000 IC lln. Marino of Liver. (L I
8,000, Is , United DiscoontCorp(l.)
10,0001 6 I United C. Telos. Cols,
10,000 6 Do. 10 per cent pref.
60,000 10 Univers. Marine ins.(l.)
10,01101 SO Van Lriemen'e Land
,111011000 IN Itileeroyot Zgypt(Mor.:ls
60 10,0001Wiumat Flumes (Lim.) II
66,0001 50 Woman., Is et Paciao

10,0001
12,6001
12,000
10,000
MOOG,

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is: boo
120,000
40,000
10,000
10,000
15.500,
t 5,400
61,00111
110,000'
16,0001
15,000

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PREFERENCE SHARES.
Great Eastern, K Counties Eaten. No. 1, 70.
Great Northern, 5 per cent., redeem. at 5 per cent. pm.,
103.

Manchester, Sheffield, and Line., 6/. 6 346.
North Eastern, 44 per cent. redeemable, 91.

A Vienna letter, describing a late concert at the
mart, says :—" In the first row of stalls were the Duke de
Gramont and Lord Bloomfield ; and on the other side the
Papal Nuncio, sitting next to Haider-Effendi, the repre-
sentative of the Sultan. The Empress wore a robe of white
silk, embroidered in silver,with a long train, a pearl neck-
lace, and a bouquet of camellias, studded with diamonds.
The archduchesses, too, were in white ; only the young
Mathilde, daughter of the victor of ecotone, appeared in
a rose-coloured dress."

Prussian diplomatists seem to be convinced that
part of the purchase money stipulated for in the original
contract between France and Holland has been already
paid over to the latter. The civil list of his Dutch
Majesty, amounting only to 600,00011. (about 50,000(.) •
year, has been long wholly inadequate to cover the wants
of his court.

Large quantities of French potatoes are now im-
ported into Southampton. They have been fetching seven
guineas per ton.

MONEY MARKET.-(THIS DAY.)

On o'Owoi.

The amount of business in the Stock Exchange
to-day is limited, and prices present few changes.
Thu Luxemburg question is still regarded with a
certain degree of anxiety by some of the specu-
lators, who prefer to wait the result of the con-
ference before entering into fresh transac-
tions. The proposed Reform demonstration
in Hyde-park also tends to check business. There
is a slight inquiry, however, for the funds, which
have risen per cent. Some of the foreign bonds
are better, but English railway stocks have given
way, upon additional sales, it is understood, by
bankers, who have made large advances upon these
securities.

The discount market is rather active to-day, and
the rates for the best paper are fully equal to
the Rink minimum. There is, consequently, a good
demand for money at that establishment. The
charge for short advances in the Stock Exchange,
on English government securities, is 21 per cent.
Consuls are now quoted 911 to 4, for money
and the account (May 9), and the Three per Cents.
Reduced and New Three per Cents., 891 to 4.
Exchequer Bills are steady, at 20s. to 255. prem.
A few dealings have been reported in the India
Five per Cent. stock, at previous quotations.
Foreign stocks are inactive. Greek Bonds, how-
ever, are in request, and have risen 1 per cent.
Spanish Passive are 1 higher, but Italian of 1861,
have receded to the same extent. Turkish Bonds
of Bur, are quoted 281 to 4; Greek, 134 to 141;
Spanish Passive, 204 to ,s, ; ditto Certificates, 131.
to ; Italian of 1861, 474 to ; Mexican, 151
to 4.

Financial and miscellaneous shares have been
very little dealt in. International Financial are
quoted 2 to din. ; London Financial, 23} to
22A dia. ; General Credit, 3 to 21 din. ; Credit Fon-
cier, 6;to „ dis. ; National Discount, 61 to 71
prem. ; and Hudson's Bay, 16 to I.
Bank shares are quiet, with little business. Alli-
ance are quoted 11 to 9 dis. ; and Imperial Otto-
man, 11 to 11 dia.

United States 5-20 Bonds are in demand, and
have improved * per cent., viz., to 71i to 2. Erie
Railway shares are quoted 42} to I, being lf per
cent. better ; and Illinoia Central, 76 to showing
a riseofk.

Anglo-American and Atlantic Telegraph Eight
per Cent. Preference shares have advanced 2e. 6d.,
the present prices being 181 to 1 and 4 to i
respectively.

It is notified that the King will on Monday
next inaugurate the commencement of the opera-
tions of the Belgian Public Worka Company
(Limited).

At the general meeting of the Lemberg•Czern-
mowitz Railway Company, held at Vienna on the
29th ult., a dividend at the rate of 7 per cent. was
declared. It is announced that "As the
shares held in England received in November last
interest at the rate of 6 per cent. instead of 5 per
cent., which was paid in Austria from the date of
the opening of the line, four months before the
period stipulated, the difference will have to be
deducted from this coupon ; the amount, there-
fore, will be on this occasion 12s. per share instead
of 14s. as in future."

The adjourned meeting of the Danube and Black
Sea and Kustendjie Harbour Company (Limited)
is convened for the 16th inst., but will
only be held pro forma, in order that a
further adjournment may be made to an
early day, " when the directors hope they may be
able to announce the settlement of the harbour
dues commutation."

HALF-PAST THREE O'CLOCE.
Consols are steady, at 911 to I, both for money
and the 9th inst.

About 50,000/. in clipped sovereigns has been
withdrawn from the Bank.

At Path this morning the Three per Cent. Renter
opened at 67.92, being nearly per cent. better
than at the official close of the Bourse yesterday.
No bar gold was withdrawn from the Bank yester-
day, but about 4,0001. in American eagles was
taken out for exportation making a total of
192,0001. since the date of the last return. It has
already been mentioned that the recent exports of
gold were chiefly in payment for stock sold here by
foreign holders, who were afraid of war, and, as
these parties are buying back now that there is a
prospect of peace, it seems probable that the bul-
lion in the Bank will not be further trenched upon,
though the incoming supplies from Australia and
other quarters may possibly be sent sway.

The biddings for bills on India took place yester-
day at the Bank of England. The amounts allotted
were :—To Calcutta, 13,70,000 is. ; to Madras,
20,000 rs. ; and to Bombay, 8,00,000 rs. The
minimum price was fixed as before—viz., at
Is. 111 d. on all the presidencies. Tenders on
Bombay at Is. llid. will receive about 89 per
cent. ; those above that price on Bombay, and
those on Calcutta and Madras at Is. 110 and
upwards, will receive in full. These results indicate
a further, though slight, diminution in the de-
mand for the means of remittance to the Eaat.

Up to the present period there has been little or
no diminution of the distrust manifested with re-
gard to British railway property. It can scarcely
be said that there is a panic, but week after week
the decline in prices has been very disheartening.
During the last few days • fresh check has been
given by the report of the Committee of Investiga-
tion of the Brighton Railway ; and from the present
mood of some of the shareholders it seems
necessary to remind them that, admitting to the
full all the points of doubt or difficulty that beset
this concern, it is still, as its large income proves,
a valuable property. But we will go farther than
this, and assert that, if the rooent disclosures are
rightly used by the proprietary, the present will
prove an era of recovery, instead of despondency, '
for the Brighton Railway, as well as for other com-
panies which have long suffered from abuses similar
to those laid bare in this instance. With regard to
the immediate point at issue—the question as to
whether the shareholders are to take up the three
extensions with which it is sought to saddle them
—it is nu longer mere rumour that
some of the directors are deeply and per-
sonally involved in these lines, and the name of the '
late chairman, Mr. Leo Schuster, who, by the
way, has retired, not only from the chairmanship,
but from the board altogether, is especially men-
tioned in connection with these engagements.
The shareholders at the adjourned meeting on the
16th inst. will have to decide whether they will take ,
up these commitments to relieve the persons
already engaged with them, or boldly repudiate
them altogether. In view of the attitude lately
I assumed by them, it seems probable that the share-
holders will have the wisdom to help themselves.
On all sides the character and standing of Colonel
Bsrttelot, M.P., the new chairman, are favourably
spoken of, and it would appear that what the share-
holders have to do is to rally round him,
at the same time firmly insisting that a full state-
ment shall be furnished of the extent and bearings
of these extension engagements and of the real po-
sition of the directors personally in relation to the
company and to the new lines. The fact that
Brighton railway stock, which for years enjoyed
the highest possible credit in the market, has
within a comparatively brief period been depre-
ciated to the extent of something like 50 per cent.,
may well be accepted as a warning that the
time has arrived for its owners to take action
for its preservation. With a reformed system
of management there is, we repeat, no
reason to doubt that the property will

still prove a good and remunerative one. After
all, the case of the Brighton Railway Company is
of a piece with that of British railway property
generally, and what may be counselled in this in-
stance will hold equally good with other com-
panies. It would seem that distrust is being
carried too far, since there can be no doubt of the
intrinsic security of the vast sums of money lent
on the security of railway debentures. All these
millions, though now regarded with so mock sus-
picion, represent real property, and for the pro-
prietors to sacrifice it in vague alarm would be
little short of suicide. If they are compelled
practically to pledge for a tins. the existing
moome of their lines, in order to retrieve
their debenture credit, the sacrifice mast
be submitted to, and if it causes a stop
to be put, at once and for ever, to the thriftless
and unsound system of borrowing millions in the
form of floating debt, the salvation of railway pro-
perty may date from this day. Railway proprie-
tors are at last aroused, and if they will but act
judiciously, and enforce the remedies which they
know to be necessary, they will place their pro-
perty upon a more solid basis than it has ever yet
held. They have had a sharp lesson, but fortu-
nately it has not come too late : let them profit
by it.
A meeting of the East India Land Credit and
Finance Company (Limited) was held yesterday,
when resolutions were passed agreeing to the buai-
ness being gradually contracted, with a view to its
being finally closed, and the proceeds given back
to the shareholders.

The report of the directors of Liebig's Extract of
Meat Company (Limited), to be presented at the
general meeting on the 6th inst., states that the
affairs of the company are progressing satisfac-
torily, though the general manager's time has been
largely absorbed in the extension of the manufac-
tory at Fray Bentos. The sale of the extract of
meat continues to increase, both in Europe and the
colonies, but the production at Fray Bentos in
1866 proved to be somewhat below the expected
quantity. The necessary accounts not having
yet arrived, the meeting on the 6th is to be ad-
journed to the 20th inst., when it is probable that
a dividend will be recommended.

MINES.(IBIS DAY.)

Um o'OLoas..

The mining market is inactive to-day, and prices
show no change of importance. West Chiverton
shares are quoted 72 to 73 ; Prince of Wales, 525.
to 545. ; Great Retallack, 32 to 4 ; Chiverton Moor,
5g to a ; North Chiverton, 4k to 5 ; Clifford, 44 to
5 ; Rest Russell, to k ; North Crofty, 41 to ;
Stray Park, Bs. to 10s. ; and Frontino and Bolivia,
ss. to 6s.