The Express.
London, England, 1866-04-19 00:00:00

MONEY M.

Ores o'Ciegra.
The funds are steady to-day, at the improve-
ment of yesterday, further investments having been
made on account of the public. The quotations
of foreign bonds and British railways are also ,
maintained, with the exception of Metropolitan
and London, Chatham, and Dover stocks, which
have experienced a reduction. Bank shares are
heavy, and have declined in several cases, owing
to the announcement that the drafts of Barned's
Banking Company were returned yesterday. Alli-
ance are quoted 24 to 2 discount, being 21. lower.
The shares of Overend, Gurney, and Co., and of
one or two of the financial companies have also
given way, as well as Grand Trunk of Canada Rail-
way stock.
The applications for discount to-day are mode-
rate, while the supply of money is large. The rate
for the best paper is si to 6 per cent.
The directors of the Bank of England have not
made any alteration to-day in the rate of discount.
Consols are now quoted 864 to 87 for money, and
87 to 1 for the account (May 9).
The foreign stock market is steady, and the im-
proved quotations of yesterday are in most cases
maintained. Turkish Bonds of 1865 continue in de-
mand, and have further advanced 4 per
sent. On the other hand, Spanish Certifi-
cates have declined 4. The prices are as follows
Greek, 134 to / ; Mexican, 204 to 214 ; Spanish
Passive, 251 to 26 ; ditto Certificates, 154 to 4 ;
Turkish, 1862, 641 to 651; ditto, 1865, 34/ to 1 ;
Brazilian scrip, 2i to 21 dia., ex div. ; and Italian,
1861, 531 to a.
The announcement that the drafts of Darned's
Banking Company were returned yesterday by
their London agents has caused some sensation
in City circles. The liabilities are understood to
be very large ; but it is stated that attempts
are being made to carry out certain arrangements,
with a view to the bulginess being continued. It is
feared, however, that these efforts will not prove
successful. The shares of the undertaking (with
101. paid) are now unsaleable in the Stock
Exchange.
United States 5-20 Bonds are slightly firmer,
while Illinois Central Railway shares have declined
per cent. Erie are steady. The present quota-
tions are as follows :-5-20 Bonds, 694 to 704 ;
Erie Railwayshares, 541 to 4 ; and Blinoiscentral,
80f to 4.
London, Chatham, and Dover Railway scrip has
declined to par to 1 prem.
International Financial shares are now quoted
4 to 4 dis. ; General Credit, 1 to 1 prem. ;
London Financial, 41 to 31 die. ; Imperial
Mercantile, 2i to 2.1 die ; Credit Foncier and
Mobilier, 14 to 21 prem. ; Overend, Gurney, and
Company, 11 to 04 die. ; and National Discount, 81
to 4 prem.
The fall which has lately taken place in the Impe-
rial Ottoman Bank proves how ill-advised were those
shareholders who insisted on having the new issue
allotted to them at par. A large number of holders,
who were unwilling or unable to increase their
stake in the undertaking, hastened to realise the
premium ; the result being that the market was
over-weighted, and thus rendered peculiarly liable
to suffer from any general news of an unfavourable
character. The rumour of a deficit of four and a
half millions sterling in the Turkish Budget doubt-
less promoted the recent fall, though why it should
have done so is not by any means clear, inas-
much as the financial straits of the Turkish Trea-
sury would only have the effect of rendering it de-
pendent in a still greater degree upon financial
establishments like this bank. It would appear
that many persons who have been rendered dis-
trustful by the fall in foreign bonds and financial
and miscellaneous shares are investing more freely
than usual in railway stocks, which unquestionably
rank next after the funds in the list of solid home
investments.
The biddings for 35,00,000 Re in bills on
India took place yesterday at the Bank of England.
The proportions allotted were :—To Calcutta,
24,55,000 Its. ; to Mediae, 45,000 Re. ; and to
Bombay, 10,00,000 Re. The minimum price was
as before, viz., Is. 114 d. on Calcutta and Madras,
and ls. 111 d. on Bombay. Tenders on Calcutta
and Madras at Is. 11101. will receive about 41 per
cent. ; and on Bombay at 25., about 57 per cent.
Above these prices in full. These results indicate
less demand for the means of remittance to India.
The failure of Messrs. Kirkpatrick and Balguy,
sugar refiners (the firm referred to on Tuesday) has
been officially announced. As already stated, their
liabilities amount to about 150,0001. The liquida-
tion will be very unfavourable, the assets reaching
only about 30,0001., or 4s. in the £. The firm has
beenestablished about ten years, and has held a
respectable position.
It appears that the advances fraudulently ob-
tained, chiefly on duplicate bills of lading, by Mr.
Jose Perez, of the firm of Pinto, Perez, Ashley,
and Co., reach about 80,0001., and that the total
liabilities of the house range from 400,0001. to
500,0001. The assets are estimated at only about
40,0001., but thin is irrespective of a large ..mount
of securities held by some of the creditors. Mr,
Perez is said to be now in Spain, where he cannot
be made answerable for offences oonunitted in this
country.
The steamer City of Washington left New York
for Liverpool on the 31st of March, and has not
since been heard of. Twenty guineas premium
have accoedingly been paidat Lloyd's to effect fresh

insurances.
Most of the traffic returns published this week
compare with those for the week preceding Easter
last year. Tho London and North Western re-
turn shows an increase of 2,0881. over last
year ; the Great Western an increase of 1,483/. ;
the Great Northern an increase of 3,3221. ; the
Great Eastern a decrease of 1,621/. ; and the Mid-
land a decrease of 1,2321.
The annual meeting of the proprietors of the
Provincial Bank of Ireland will be held on the
17th of May.