The Express.
London, England, 1866-01-25 00:00:00

1,./..0
LIS.O

'HIS DAY.)

Ora o'Orkai.
The stock market opened with a strong appear-
ance this morning, but prices have since experi-
enced a decline, no reduction having been made in
the Bank rate of discount, and there being a re-
ported movement against England of 3 per cent.
in the Bombay exchange. The reduction in prices,
however, is neither important nor general. Consols
and some of the British railways have given way
to the extent of it per cent., but foreign bonds are
steady. Financial shares remain flat, and London
Financial and International Financial show a fresh
fall of 12s. 6d. and 2s. 6d. respectively.
The discount market is quiet, but it is thought
the demand will increase to-morrow, bills having
been kept back on the chance of a reduction in the
Bank rate to-day. The charge for good three
months' paper is 71 to 7} per cent. In the Stock
Exchange short loans on English government secu-
rities are offered at 5 per cent. _ _

too 7}
leie

94
93 }
881 t I

100 k

116)

zd

—. td

61 7 61

114 171

161 Ili

Consols are now quoted 86/ to 87 for money,
and 87 to 1 for the account (February 8).
Foreign stocks are inactive, and prices ex-
hibit no alteration, with the exception of a rise of
per cent. in Turkish Bonds of 1865 and Italian
of 1861. Some of the present quotations are sub-
joined, viz. :—Greek, In to 141 ; Turkish Five per
Cents. of 1865, 391 to 1, ex div. ; Spanish Passive,
251 to 26 ; ditto Certificates, 131 to 14 ; Brazilian
scrip, to 1 prem. ; Italian, 1861, 62 to ;
Mexican, 211 to;, ez div. ; and Egyptian scrip,
to 1 prem.
American aienritiea are unaltered. 5.20 Bonds
are now quoted so to ; Erie Railway shares, 551
to 561 ; and Illinois Central, 741 to 751.
International Financial shares are now quoted
to prem. ; General Credit, 11 to 1 prem. ;
London Financial, 2} to prem. ; Imperial Mer-
cantile, 2 to 1 prem. ; Credit Foncier and Mobilier
of England, 31 to 1 prem. ; Overend, Gurney, and
Company, 51 to prem.
The shares of the English and American Bank
are now quoted 1 to 11 prem. ; London Steam
Towing, 1 to 2 prem. ; Charles Laffitte and Co.,
21 to 1 prem. ; and Galatz Caudle, to 1 prem.
The steamers City of London and Hermann have
brought together 87,0001. in specie from New York.
It is understood that the Registrar of Joint Stock
Companies will have an interview with the Co-
mmittee of the Stock Exchange to-morrow, to ascer-
tain their opinions respecting the working of the
act of 1862, with a view to its modification or other-
wise in the ensuing session of parliament.
The London and North Western Railway traffic
return shows this week an increase of 5,527/. over
last year ; the Midland, au increase of 2,6121.; the
Great Western, an increase of 2,6111.; and the
Great Northern, an increase of 2,3271.
The traffic receipts on the Atlantic and Great
Western Railway for the mouth of December were
660,262d011ar5, against 357,566 dollars in December
of the previous year, showing an increase of
242,696 dollars. The total receipts for the past
year amounted to 6,642,856 dollars, against
3,709,980 dollars in 1864, being an increase of
2,932,876 dollars.
At the meeting yesterday of the National Discount
Company (Limited), resolutions were passed adopt-
ing the directors' report and authorising the in-
crease of the capital from 3,000,001 N. to 4,000,0001.,
by the issue to the existing proprietary of 40,000
new shares of 251. each, at a premium of 51. per
share. The dividend declared for the six mouths
was at the rate of 20 per cent. per annum free of
iuoome tax. The chairman, Mr. F. W. Russell,
M.P., congratulated the proprietors upon the con-
tinued prosperity of the undertaking. The gross
profits of the last half-year amounted to 114,0001.,
against 112,0001. in the previous half-year. The
smaller sum carried forward was owing to the fact
that a very large amount had to be taken for rebate
of bills at the end of the year, in consequence of
the Bank of England raising its rate of discount at
that period. The manager, Mr. Webber, had shown
great tact in avoiding bad debts.
The following is from the report of the directors
of the London and Provincial Marine Insurance
Company, to be presented at the general meeting
on the Ist February :
The directors avail themselves of the earliest opportunity
of submitting to the shareholders the accounts of the cem-
pany's operations for the year 1865, for their information
preparatory to the general meeting. It will be seen from
these accounts, that after the payment of the thei dividend
declared by the meeting on the 2nd February, , nterest
for the half-year ending June 30th, all charges
and expeoses for the year, and claims settled
on the 1865, as well Si on former accounts, there
remains a balance, in favour of the income and expenditure
account, of 86,9671. 14s. 28. The shareholders were
informed at the last meeticg that it was anticipated the
balance attaching to the previous accounts, after the pay
men; of the bonus then declared, would admit of a material
addition to the reserve fund. The directors now propose to
recommend to the meeting that out of the available profits
the sum of 10.500/. shall be added to the reserve, increasing
that fund to 35,0001. They farther recommend the pay-
meat of a bonus of 5 per cent. upon the paid up capital of
the company, in addition to interest for the half-year
ending December 31, 18415, at the rate of 10 per
bent.cr
annum, free of income tax, carrying forward the in

the ordinary way.
The directors of the English and Foreign Credit
Company (Limited) have issued their report, to be
submitted at the second ordinary general meeting
on the 6th February :
The annexed statement of accounts of the operations
of
the English and Foreign Credit Company (Limited), ending
31st December last, will enable the shareholders to form
an opinion of the position of the company. It is only De-
mmer, to allude to the leading items in the accounts. The
balance of profit and loss last June amounted to 11,5621.
9s, 3d., which was appropriated as follows :-4,8761. 3s. 4d.
in payment of dividend of 5 per cent. for the half.year
then closed ; 5,0001. invested in Consolidated 3 per cent.
Anon aim (Consols). serried toe reserve fund, which were pox-
chased at 874 and 871, leaving 1,6861. Ss. Ild. to be brought
forward. With this balance the gross profits for the past half
year amount to 13,3171. lls. 5d., and the working expenses,
inclusive of advertising, salaries, office expires's, and direc•
tors' fees, to 2,7991. 4e. 7d., leaving the sum of 10,567/.
16a. 63. available for distribution or otherwise. The
directors therefore reoommeud the following treatment of
this balance :—ln payment of dividend on 13,768 shares at
7s. 6d. per share (10 per cent. per annum, free of income
tax), 5,1634, which dividend tb.e directors propose to make
payable on 12th February 4.0001. to be invested is Console
sad carried to the reserve fund, whi,h will then amount to
9,0001.; the balance being brought forward to new profit
and lose, say 1,4041. 16s. 6d. A sum of 1,6361. 16s. 3d. is
also carried forward, as rebate, on current transactions, to
new interest amount.
The meeting of the Scottish Australian Invest-
ment Company took place yesterday. The gross
profits for the six months were 20,857/, and a
dividend was declared at the rate of 10 per oent.
per annum, less income tax.
The tbird ordinary general meeting of the London
Tavern Company (Limited) will be held on the sth
of February.
The subjoined report on the market for American
securities is from the circular of Messrs. E. F.
Satterthwaite and Co. :
Since our lent the chief features is the London market
for American securities have been some few large transla-
tions in United States 5.20 Bonds, and a demand for
Erie shares for shipment to Nee York ; the passel
public, however, appear be doing little or no business
in these securities. Oa the week 5.20's have advanced
about a half per cent., closing 661 to 4. notwith- •
standing reported large shipments from New York to the
Continent. Illinois sham continue neglected, sod close 75 •
to 4. In Eries there bare been considerable fluctuations,
as they were at one time taken es high as 59, but the lower I
quotation by the City of London seriously depressed the
market, and they leave off nearly 2 dols. lower than we
last reported, via., 551 to 561. There has been some demand
for Virginia Sizes, resulting in an improvement of 1 doL
Atlantic end Great Western securities remain steady.
The light portion of the mails from Calcutta,
China, and Australia is due in London about the
13th of February.

WAY Bvisisa.

Consols, which closed yesterday at 87} for
the Bth Feb., opened and closed today at 87}
to I For money the last price war 87to The
official business report is as follows :—Thres per
Cent Consols, for money, 861, 7, 61; ditto, for

account, 87f, ; Three per Cents. Reduced, 85‘
7 ; New Three per Ceuta., 87, 61, 7 ; ditto, Three-
and-erHalf per Cents., 93 ; Bank Stock, I
247 5;
India Stock, 208 ; ditto Five per Cent., 102 i, ,

ditto Bonds, 15s. prem.
Indian Government securities were quiet Exche-
quer Bills were quoted ss. to ls. dia.
The foreign stock market was quiet to-day, but
there were inquiries for Italian of 1861, Maxima,
Spanish Passive and Certificates, which rose 4 to f
per cent. Spanish Three per Cents., however, wee
fiat, and declined 1 per cent. Venezuela Old Bonds
also receded 4, and Turkish of 1865, 4.
There was rather more business in bank shares,
and the tone was somewhat firmer. Bank of New
Zealand, Eoglish, Scottish, and Australian Char-
tered, English and Swedish, and London and River
Plate improved. Anglo-Egyptian, Consolidated,
and London Bank of Mexico and South America,
however, declined, and Alliance were dull. Anglo-
Austrian Bank shares were firm, at I to I prem.,
ex div.
London Financial shares declined Em., and Gene-
ral Credit were dull. The shares of the other
financial companies showed no change. The last
prices were as follows :—lnternational Financial, 4
to 4 prem.; General Credit, 11 to 4 prem.;_ London
' Financial, 34 to 4 prem. • Imperial Mercantile
Credit, 2 to e prem. ; Credit Fonder and Mobilier,
31 to }prem.
National Discount shares were last quoted 101
to 114 prem., being 2s. Gd. better ; Joint Stock
Discount, 34 to 3 dis., showing a recovery of 2s. 6d.;
Overend, Gurney, ad Co., 54 to 4 prem. ; General
Ottoman, 34 to 1 prem.; and Hudson's Bay, 164
to 1. In the market for miscellaneous shares there
was a demand, at better quotations, for Canada
Land, Ebbw Vale, Smith, Knight, and Co. Union
Marine, and Universal Marine. East and West
India Stock also unproved. Consolidated Discount,
International Contract, and National ProvindA
Marine shares receded. At one period to-day Joist
Stock Discount shares were marked as low as 4 die.
Lion Brewery shares were in increased demand, sad
have risen to 14 to 14 prem., a favourable report
; being looked for.
There were inquiries for Lemberg Czernowits
Railway shares, which were quoted 7to 5 dia.
These are 201. shares, with 131. paid. This under-
taking has been depressed in market value by twos
successive calls, operating upon a limited area of
shareholders ; but it is considered that an im-
provement is gradually coming into prospect, it
being hoped that the line will be completed is
September. The government guarantee will then
come into operation.
The shares of the English and American Bank
were nominally quoted 1 to 14 prem. • London
Steam Towing, 14 to 2 prem. ; Charles Laffitte and
Co., 2} to f prem. ; Galatz Candle, I to 4 prem. ;
and Hercules Insurance, 4 to 1 prem.
American securities were dull. 5.20 Bonds de-
clined 4 percent., and Illinois Central Rail way shares
4 ; but Erie were steady. The following wars
the latest prices, viz. :-5.20 Bonds, GGe to 1 ;
Erie Railway shares, 551 to 56} • Illinois Cen-
tral, 744 to 754, ex div. ; Atlantic and Great
Western Railway Debentures, 84 to 85 ; ditto
small, 85 to 86 ; ditto Consolidated Sterling Mort-
gage Bonds, paid up, 784 to 79e, ex coupon ; ditto
scrip, 4 to 1 prem.

MINES.-(THIS DAY.)

ONE o'Owegi

The dealings in the mining market to-day are
upon a limited scale, but prices are steady. Feat
Russell shares are vow quoted 21 to ; East Gres-
-31 to ; Wheal Buller, 271 to 24 Hut
Lovell, 11/ to 121 ; Clifford Amalgamated, 181 to
19 ; Wilual Seton, 2221 to 2271; Great Vor, 31 to
It ; North Treskerby, 3,i to 1; Chiverton Moor, 61 to
; West Chivertou, 171 to 80 ; and Chiverten,
80 to /.
Choutales Gold shares are quoted 21 to 1 prem.;
and Frontino and Bolivia, tot prem.
A meeting of the Moates Anreos Gold Mining
Company was held yesterday, to consider the advisa-
bility of passing a resolution in favour of voluntarily
winding up the undertakings but, after some disco,-
sion, a committee was appointed to investigate the
affairs of the company from its formation.
At East Wheal Russell meeting yesterday the
accounts showed a debit balance of 4751., against
which ore has been sold to the value of 9501. A
call of 7s. Gd. per share was made.