The Express.
London, England, 1866-06-16 00:00:00

866.

MONEY MARKET.-(THIS DAY.)

ONs o'CLoctx.
There is very little business in the Stock Ex-
change to-day, and the general tendency of prices
is rather dull. The funds have declined 3 per cent.
both for money and the account. Some of the
foreign bonds have also given way, including Italian
of 1861 and Mexican. The variations in British
railway securities are few and unimportant. Bank-
ing and financial shares are inactive, but London
Financial exhibit a recovery of V. National Dis-
count are inquired for.
There is a good demand for money to-day, and
the lowest rate for the best three months paper is
93 per cent.
Consols are now quoted 863 to 3, ex div., for
money, and 861 to 4 for the account (July 10).
Italian bonds of 1861 have declined 3 per cent.,
Mexican 3, and Spanish Passive 3, but the other
speculative descriptions were unchanged, in the
absence of business. Turkish Bonds of 1862 are
now quoted 52 to 54 ; ditto of 1865, 263 to 27 ;
Greek, 101 to 113 ; Spanish Passive, 193 to 3 ;
ditto Certificates, 141 to 15 ; Italian of 1861,
383 to 1 ; Brazilian scrip, 5 to 4 dis. ; and
Mexican, 15 to 3.
United States 5-20 Bonds and Erie Railway
shares have receded 3 per cent., being quoted 643
to 4 and 40 to 3, respectively, but Illinois Central
are unchanged, at 741 to 753.
Messrs. J. Thomson, T. Bonar, and Co. have an-
Inounced the payment of the half-yearly dividend
on the Peruvian Four-and-a-Half per Cent. Loan
due on the Ist July ; also the dividend on the
Consolidated Peruvian Five per Cent. Loan. The
drawing for the third half-yearly redemption, at
par, of the latter loan will take place on the 3rd
July, and will amount to 262,700/., making the
total sum redeemed 768,9001.
International Financial shares are now quoted
23 to 13 dis. ; London Financial, 16 to 14 dis. -
General Credit, 23 to 23 dis. ; Credit Foncier, 311
to 3,3 dis. ; and National Discount, 61 to 73 prem.
Two O'CLOCK.
Consols are unaltered, at 863 to 3, ex div., for
money, and $6l to I, ex div., for the account.
About 99,0001. in gold was sent into the Bank
yesterday, viz., 86,000!. in bars and 13.000 sove-
reigns from the United States. The 345,0001. by the
City of Boston, from New York, has been taken
for abroad.
The Cuba has arrived front New York with
330,0001. in specie.
The foreign exchanges showed no material altera-
tion yesterday ; but the rates on Vienna were fiat.
The quotations were .aa follows :
Amsterdam, 3 months, 11.19 to 11.19 i ; ditto, short,
ILI4 to 11.16 ; Rotterdam, 3 months, 1f.19 to 11.191 ;
Antwerp, 3 months, 23.50 to 25.60 ; Hamburg,
3 months, 13.8/ to 13-84 • Paris. short. 25.10 to
25.221 ; ditto, 3 months, 25.'40 to 25.50 ; Frankfort-on-
the-Maine, 3 months, 118 to 1181 ; Petersburg, 3
months, 25 to 241 ; Vienna, 3 months, 14.20 to 14.60 ;
Trieste, 3 months, 14.20 to 14.60; Madrid, 3 months,
451 to 451 • Csdu, 3 months, 461 to 46 ; Leghorn, 3
months, 30 to 31.10 ; Genoa, 3 months, 30 to 31.50;
Milan, 3 months, 30 to 31.50; Napleq, 3 months, ;At to
31.50 ; Palermo, 3 months, 30 to 31.50 ; Messina, 3
months, :31 to 31.50 ; Lisbon, 90 days date, 51 to 501 ;
Oporto, 90 days date, 51 to sq.
The weekly return of the Bank of France shows
the following changes :
Coin and bullion lncrease £430,000
Bills discounted
Government deposits lncrease 780,000
Notes in circulation
Private deposits
Advances
The coin and bullion in the French Bank conti-
nues to increase rapidly, and have now reached 243
millions sterling. This week, however, there has
been some revival of the demand for discount.
At Paris the rate of discount in the open market
is 4 per cent. •, at Turin, Frankfort, Amsterdam,
and St. Petersburg, 6; ; 'Vienna and Brussels, 5; ;
Hamburg, 7 ; and Berlin, 73. These rates con-
trast strangely with our 10 per cent.
Subjoined is a copy of a private telegram from
Bombay, dated June 8 :
Exchange on London for a first-class bank bill, 6 months'
sight, per rupee, 2s. Id. ; the Calcutta rate for ditto, per
rupee, 2s. 11. ; Exchange on Calcutta at sight, 100) to
1001 ; Government 4 per cent. paper, TS. 4171; ditto 5
ditto, re. 1021 ; ditto 51 ditto, is. 1091 ; Bank of Bom-
bay rate of discount, 13 ' • bar gold, 99A touch, n. per
tola 16( ; bar silver, 11 to 17?, betterness, rs. per 100
togas, 1061. 80,000 to 8.5,060 bales cotton sailed from
Bombay during the fortnight.
The Stock Exchange Committee met yesterday
afternoon to re-consider the advisability of alter-
ing the present mode of dealing in bank shares,
owing to strong representations which have been
made to them on the subject. One proposal was
that a resolution should be passed in favour of
sales being effected for cash only, allowing the seller
one week to deliver the certificates. The discussion
was adjourned till Monday. Meanwhile the most ras-
cally devices are being resorted to by speculators for a
fall, in order to frighten shareholders into realising.
At the meeting yesterday of the Panama, New
Zealand, and Australian Royal Mail Company, the
directors' report was adopted. It showed a divi-
dend at the previous rate of 5 per cent. per annum
free of income tax, forthe half-year, but announced
that the distribution must be deferred fur three
months, owing to the panic in the money market.
The London and Provincial Marine Insurance
Company have notified that interest for the half-
year ending June 30, at the ra ote of 1 per cent.
per annum will be payable on and after the 9th
July.
The annexed circular has been issued with re-
ference to a proposed voluntary winding up of the
Agra and Maatennan's Bank (Limited).
20, Austinfriars, London, June 12.
Many of the principal creditors of this bank, anxious to
avoid the delay and expense necessarily attendant on a
winding up inj the Court of Chancery, have expressed a
strung desire that its affairs should be liquidated volun-
tarily under the supervision of the court, and that Mr.
Carman and Mr. Mildred should act as liquidators, we
have, therefore, been instructed by the directors to inclose
a form of assent for your signature to this course ; and, as
it is most important that the general concurrence of the
creditors be obtained without delay, to request you will
return the assent to us, duly signed, in course of post.
The directors have no doubt that under this mode of
hyui-
dation a dividend will be declared much sooner than under
a winding up in the Court of Chancery,. and they hope
tha.., by certificates of indebtedness being issued at an early
date, any unavoidable inconvenience and delay that may
arise in the payment of the debts will be considerably lessened.
With a view to your guidance we annex the following
remarks from a very eminent authority (Mr. Thring), on
the law and practice of joint stock companies—voL 2, p.
109—with regard to the advantages of this mode of liqui-
dation :—" A favourite argument advanced by the sup-
porters of a winding up by the court ; or, in other words,
of a long Chancery suit as against a voluntary winding up,
has hitherto been the inability of the voluntary liquidators
to enforce calls, and do other acts necessary to the efficient
winding up of a company. This section (alluding to the
138th) removes all ground for such an argument, as it
enables the liquidators to call upon the court for aid when
it is required in any particular transaction, without trans-
ferring to the court the whole conduct of the winding up."
—We are, Lc., UPIONS, JOHNSON' and Vino's.
The half-yearly meeting of the Colonial Bank is
convened for the 6th of July.
A call of 1/. is to be paid by the 13th of July on
the shares of the Indian Branch Railway Company
(Limited).
We are requested to state that Mr. Henry Waite,
of the firm of Foster and Braithwaite, has joined
the board of the City Offices Company.
The first ordinary general meeting of the Hop
and Malt Exchange and Warehouse Company will
be held at the Bridge-house Hotel, London-bridge,
on Tuesday, the 26th inst.
The Caledonian Railway traffic return shows this
week an increase of 1,3671. over last year.
The Master of the Rolls has to-day appointed Mr.
H. Thelkeld Edwards, of the firm of Edwards,
James, and Co., official liquidator of the Greenwich
Tannery Company (Limited).
Petitions for the winding up of the West Surrey
Tanning Company (Limited), the Bream Iron
Mining Company (Limited), and the Marine Man-
sions and General House Investment 'Company
(Limited), are to be heard before Vice-Cbancellor

Wood on the 23rd inst., and a petition for the
winding up of the Kumaon and Oude Plantation
Company (Limixed) before the Master of the Bolls
on the same day.
The agent general for South Australia baa given
notice that the dividend on the government bonds
duo on the let July will be paid as usual at the
South Australian Bank.

FIUDAT Iv iis.
Consols, which closed yesterday at 86h to f, sx
div., for the 10th of July, opened this morning at
86 to and closed at 864 to 87. For money
the last price was 861 to I. The official business
report is as follows :—Three per Cent. Consols,
for money, 86:, g, 4, g, ; ditto, for account, 86j,
; Three per Cents. Reduced, 86, 54, Cti ; New
Three per Cents., 854, 61, b 4, 6h ; Bank Stock,
247, 9 ; India Five per Cent. Stock, 1034, 5,4;
ditto Five per Cont. " enlaced " rupee paPer,
1100 ; ditty, Four pt.r Cent. Debentures, 100, 99h ;
ditto Bonds, ss. dis., to ss. prem.
The India Five per Cent. Stock was firm. Ex-
chequer Bills were unaltered.
Foreign stocks were in request at an improve-
ment. Brazilian Bonds and scrip of 1865 were in
chief demand, and advanced 14 per cent. Spanish
New Deferred and Three per cents., as wed as
Egyptian (18414). and Turkish (1864, 1868, and
1862), als,-) 1 per cent. ; Portuguese, ;
Italian of 1881, Turkish of 1866, and Spanish
Passive, a ; and the Committee's Certificates,
Mexican and Greek, however, showed flatness, and,
I declined 4 to 5.