The Express.
London, England, 1866-10-18 00:00:00

MONEY M.

On &Own.
The directors of the Bank of England, at their
weekly court to-day, have decided to make no
change for the present in the rate of die- •
count. The official terms, therefore, remain
at 41 per cent., although the quotation in the
general market is fully 4 per cent. lower.
The position of the establishment has been'.
weakened by the payment of the
divi-
dends, which en the present occasion have been -
retained to a much greater extent than
usual in the hands of the public, owing to tie[
moderate total taken by the discount houses and
brokers during the quarter in the shape of advances"
on bills. At the same time, it is expected that shiset
ments of silver to the East, topayfor oetton, will soon..
beeffected on a considerablescale,andthatthe Bank
of France rate of discount may be raised shortly, im•
consequence of the efflux of gold from that institu--
tion to pay for corn.
Very few transactions have occurred to-day in',
the discount rual•ket, while the supply of money
seeking employment is extremely large. The
general rate fur good three months' paper is 4 per
cent., but there is still a disposition in some quar-
ter to effect business at 31. In the Stock Exchange.
short advances on English government securities
•
are obtainable at 21 to 3 per cent.
The dealings in public securities to-day consist
chiefly of speculative sales, which are induced by
the retention of the Bank rate at 44 per cent., and
the wretched state of the weather. Consols haver
declined 1-16 to 1 per cent., while the reduction in
some of the British railway stocks ranges from 1
to 1. A few of the foreign securities are likewise
lower, though not to any important extent
Consols are enoted 891 to 4 for money, and
89# to 1 for the account (Nov. 8).
Foreign stocks are dull, and a decline of
Ito per cent. is observable in Turkish of 1865,
Greek, and Ita'isn of 1861. Spanish Passive;
Bonds, however, have improved 1. Turkish
Bonds of 1862 are quoted 55 to 56 ; ditto, 1865,
28;? to 1 ; Greek, 121 to 131 ; Spanish Passive,
21} to 1 ; ditto Certificates, 131 to 4 ; Italian el
1861, 541 to 4 ; Mexican, 151 to 4.
United States 5-20 Bonds and Illinois Central
Railway shares are unchanged, at 681 to 4, ex die.,
and 78 to 79, respectively ; but Erie have ad-
vanced 1 per cent., sit, to 51 to 52.
Atlantic Cable shares are dull. Anglo-Ameri- •
can are quoted 151 to / ; and Atlantic Tekgrapk
8 per cent. preference, 4f to 4.
International F'eancial shares are quoted 14
Ito 11 die. ; London Financial, 16 to 15 die. ;
General Credit, 22 to 2/ die. ; Credit Fonder,
4/ to 41 die. ; National Discount, 81 to 9 prem. ;
and Hudson's Bay, 16/ to 17.
About 5,000 sovereigns, received from Paris and
Malta, were sent into the Bank yesterday. The
transactio is repotted during the week have been
unimportant, comprising the purchase of 22,0001.,
and the withdrawal of 80,0001. for export. It is
probable, however, that the receivers of the divi-
dends have taken . onto amount of coin.
The Reigate has arrived off Falmouth from
Jlelboui ae with 15,000/. in gold. The Esther,
from Mazatlan, has brought 30,0001. in bar silver.
The silver market remains quiet, although the
government bills on India have been allotted at
higher rates, but an increased demand is soon ex-
pected, oeing to the recent important advance is
the value of cotton. Bars are quoted Si. Id. per
ounce, and Mexican dollars 4s. 1141., showing no
change in either case.
The bidding. for 32.50.000 ra. (325,0000 in bills
on India took place yesterday at the Bank of Eng-
land. The proportions allotted were :—To Calcutta,
17.40.000 rs. ; to Madras, 10.000 rs. ; and to Bom-
bay, 15.00.000 re. Thu minimum price was fixed
as before, viz., at Is. 10/(1. on all presidencies.
Teeders on Calcutta and Madras at Is. Ind., will
receive about 64 per cent. ; and on Bombay at
Is. Hid., about 3e, per cent. Above these rates
in full. In the fact that the terms paid are 11 per
cent. above those given on the 3rd inst., we have
evidence that the demand for remittance to the
E.st is still increasing.
It is e :petted that a dividend of ss. or Gs. in the
pound will be paid to the creditors of the Birming-
ham Banking Company early in December.
The Court of Directors of the Royal Mail Steam
Packet Company have decided to recommend to the
propfeiters, at the meeting to be held on the 31st
else:Lit, a payment for the half-year ended 30th
Jane last of 3!. per share out of the ordinary
pre:its, and a bonus of 21. per share from the In-
surance Fund, both free of income tax.
An informal meeting of the shareholders of
Smith, Knight, and Company (Limited), was held
yesterday, for the purpose of forming a shareholders'
defence committee. The chair was occupied by
Mr. A. .1. King, who briefly stated the reasons
which rendered it advisable why steps should be
taken to protect the interests of the shareholder' ;
and eventually a resolution was passed, approving
of the appointment of such a committee.
In the matter of the Blakely Ordnance Com-
pany (Limited), it appears that a shareholders de-
fence association is being formed, upon the ground
of misrepresentations in the prospectus, and mis-
management of the funds of the company.
In convening an extraordinary meeting of the
shareholders of the Bank of Hindustan, China, and
Japae (Limited), for the 19th Nov., at the London
Tavern, the directors have issued the annexed
circular :
In handing you the accompanying notice, lam is-
structol by the Oirectors to inform you that the special
resolution passed em the 24th May hut was not baffictently
fori.al to pern.it of an ordinary meeting being held is
November, and that, therefore, they have resolved upon
calling the extraordinary meeting. On that occasion the
dire: ors will present a specially audited statement of the
reiition of the company, which they believe will be sail*.
faeturs to the shareholders. The directors also propose to
suliniit for consideration a plan for reconstructing the
bviac on a basis which shall reduce the liability upon, and
the nominal amount of, the shares.
Messrs. J. Thomson, T. Bona:, and Co. have an-
nounced the payment of the half-yearly dividend,
due IA November rent, on the Imperial Russian
Three per Cent. stock.
A certain " turf prophet" has lately adopted the
device of forwarding invitations to gambling en-
clesed in special and private envelopes to banking
officials in the provinces. So liberally are these
papers distributed that one manager has received
no less than five of them, two being addressed
" To the Manager of the Branch of the -- Bank,
at —." Bs.nk managers, as a rule, are certainly
not likely to be deluded by the " certainties" pro-
mised by this " member of Tattersall's, ' as be
styles himself, yet the practice may as well be
e74tosed, if only for the sake of presrving unwary
subordinates from temptation and loess.

WIM:CESDAT EVERIFIL
Console, which closed yesterday at 894, " sellers,"
for the Bth November,Bsened this morning at
892 to 1, and closed at to 4. For money the
last price was 89i,. Theo cial business report is
as follows :—Three per Cent. Consols, for money,
89/i, 4, 4 ; ditto, for account, 894 ; Three per
Cer.ta. Reduced. 811, 7, 4 ; New Three per Cents.,
87, ; Bank Stock, 244 ; India Five per Cent.
I Stock, 1051, i ; ditto Four per Cent., 93 ; ditto
Four per Cent. " enfaced" rupee paper, 831 ; ditto
I Five per Cent., 1014.
The India Five per Cent. Stock continues to
' meet with inquiry. Owing to the ease of the
money market, the inquiries for Exchequer Me
have increased somewhat, and the price is par to
4s. prem.
The foreign stuck market was fiat, especially se
regards the speculative descriptions, most of which
declined. Greek Bonds fell f. per cent. ; Italian
' of 1861, 4 ; Turkish of 1865 and Spanish Card-
irates, ii •; and Pal. Ire, Mexican, Portuguese, and
' Greek Coupons. i.