The Express.
London, England, 1867-07-20 00:00:00

THE XIMISTER OP rniAl4cE TO THE lIIXIBTEB

PULVIPOTENTIARY OP SPAIN.
Madrid, 18th July, lfi47.
The Gangs publishes to-day the decree for the payment
of the Certificates at twenty-five per cent.. in the Exterior
at forty-five, in conformity with the authority conceded
by the law of the 11th inst., and the order for the execu-
tion of this law relative to the Certificates and the Passive
Debt. (Signed) BAR/A:CALLA-VA.

Meetings of the Spanish Certificate-holders are
convened for Thursday, the 25th inst., and of the
Passive Bondholders for the following day, to con-
sider the terms now arranged.
It appears that a great effort is being made by
their committee to simplify the position of the
Passive Bondholders by so arranging that they
shall receive a fixed amount of 3 per cent. stock
and not be called upon to make any payment on
account of a subscription to new stock.
About 67,0001. in gold was sent into the Bank
yesterday.
The Russia, from New York, has brought
288,5001. in specie.
On Change yesterday afternoon hills on Belgium
and Hamburg were quoted slightly worse for this
country, but as regards Vienna and St. Petersburg
the movement was in the contrary direction. The
usual list is subjoined :
Amsterdam, 3 months, 11.191 to 11.191; ditto, short,
1118 to 11.19 ; Rottenlam, 3 months, 11.191 to 11.191;
Antwerp, 3 months, 25.371 to 25.40 ; Brussels, 3 months,
25.371 to 25.40 ; Hamburg sad Altana, 3 months, 13.91 to
13.91 ; Berlin, Cologne, ke.. 3 months, 6.26 to 6.26 f;
St. Petersburg, 3 months, 34 to 32 , Paris, short, 25.121
to 25.221; ditto, 3 months, 25.321 to 25.37' ; Marseilles,
3 months, 25.321 to 25.371 ; Frankfort-on-the-Maine,
3 months, 1201 to 1201 ; Vienna, 3 months, 13.0 to
13.10 ; Trieste, 3 mouths, 13.0 to 13.10; Madrid, 3
months, 491 to 49; Santander, 3 months, 491 to 49; Cadiz,
3 months, 491 to 49 ; Seville, 3 months, 491 to 49; Maw,
3 months, 49 to 481 ; Valencia, 3 months, 49 to 481; Bar.
colons., 3 months, 491 to 491 ; Bilks, 3 months, 49 to
481 ; Seasgoem, 3 months, 49 to 481 ; Leghorn. 3
months, 27.25 to 27.30 • Genes, 3 mouths, 27.25 to
27.30 ; Naples, 3 moat/ail 27.25 to 27.30 ; Palermo, 3
months, Y 1.25 to 27.30 ; awina, 3 months, 27.25 to
27.30; Lisbon, 90 days' date, 54 to 52 ; Oporto, 90 days'
date, 521 to 52.

At Paris the rate of discount in the open market
is per cent., or about k below that current here.
At Vienna and Turin the rate is 5 per cent. ; at
Hamburg, 1/ ; at Frankfort and Brussels, 2 ; at
Amsterdam and Berlin, 2i ; and at St. Petersburg,
8 per cent.
The great case of the dissentient shareholders
in Overend, Gurney, and Co. is to come before the
House of Lords on Monday next, at 11 o'clock.
The arguments will doubtless be long.
On Tuesday next will be held at the London
Tmern a meeting of shareholders in the Brighton
Railway Company, who, while approving of the
amalgamation with the South Eastern Company,
disapprove of the terms proposed. Mr. Joseph
Samuda is to take the chair. _

The Caledonian Railway traffic return shows this
week a decrease of 4791., compared with the cor-
responding period of last year.
From the report of the directors of the Mer-
-1 chant Shipping Company (Limited) we extract the
; following paasawe :
The directors propose that the dividend now to be de-
; dared shall be 1/. per share on all fully paid-up shares.
I and a proportionate rate upon the other shares (free of
income-tax); this, with the interim dividend already paid,
will amount to 10,240/. The amount carried to the reserve,
insure/Dos, and depreciation account is 4,2571. 19s. 7d.
I The half-yearly report of the directors of the
Danube and Black Sea Railway and Kustendjie
Harbour Company (Limited) states the net available
balance at only 2,0101., " an amount, it is deeply
regretted, insufficient for the payment of the
8 per cent. preference dividend, which cannot
therefore be declared, but must remain as a charge
on future pr kills."
A first dividend of 3s. in the pound will be pay-
able to-day to the creditors of the New Zealand
Banking Corporation (Limited), at the offices of
Messrs. Johnstone, Cooper, Wintleand Evans,
the accountants. The bills of exchange remitted
by Mr. Evans, the official liquidator at Dunedin,
it is stated, only arrived at maturity on Mon-
day last, and every facility has been afforded
by the chief clerk to the Master of the Rolls to
enable the dividend to be paid.
At the half-yearly meeting yesterday- of the Peel
River Land and Mineral Company (Limited) the
directors' report was adopted, and a dividend de-
clared of 1 per cent.
A call of 11. 10s. per share is due on Monday,
the 22nd, on the 50,000 shares of the Central Ar
gentine Railway. This makes the 201. share paid
up in full, and raises the share capital of the com-
pany to 1,000,0001. sterling.
An extraordinary general meeting of the proprie-
tors of the Bank of Egypt will be held on the 30th
inst., to receive the directors report for the half-
year ending the 29th ult.
The directors of the Company of African Mer-
chants (Limited) have declared a payment of in-
terest, in anticipation of the annual dividend, at
the rate of 2s. Q. per share.
A general meeting of the Provincial Banking

Corporation will be held on Friday, the 2nd et
August.
The report of the directors of the Eastern Dis-
trict Freehold Estates Company (Limited), to be
presented at the meeting convened for the 25th
inst., states the balance available for dividend, in-
cluding the sum brought forward, at 1,908/. It is
mentioned that

This sum will admit of the payment of the fixed divi-
dend on the capital paid in advance of calls, a dividend of
15 per cent. per annum on the ordinary capital, and the
carrying forward the sum of 221. 16a. 6d to the credit of
the current half year. The amount to the credit of dividend
equalization account is 1,100/. This recount was este-
blished, as its name indicates, for the purpose of equalizing
dividends, and the directors, at the approaching meeting,
will submit for the decision of the shareholders whether
the sum of 5451. 9s. od. necessary to bring the dividend up
to 20 per cent. shall be taken from that fund, or whether
the smaller dividend of 15 per cent. shall be declared.

Subjoined are the quotations of insurance, gas,
and canal shares, as given in the Stoc Exchange
bat of last evening :

Insnrann—Commerrial Union, 4, .', 31 ; Ocean Marine,
20; Phoenix, 104 j ; Rock Life, 7j ; Thames and alone)
Marine (Limited), 5 7-16 ex div. ; Universal Marine,
(Limited), 3)„1„;.
Gaslight and Coke—Great Central, 13 ; Imperial, 63,
ex div. ; Western. 1:1.;, 14 ; ditto B, 7.
Canal—Regent's (or London), 22,

FRIDAY EVINING.

Consols, which closed yesterday at 341 to j for
the Bth of August, opened this morning at the
same quotation, and closed at 944 to /. For money
the last price was 941 to 4. The Three per Cents.
Reduced and New Three per Cents, were quoted
at 3 o'clock 931 to 4. The official business report is
as follows ;—Three per Cent. Consols, for money,
944, g, a, ; ditto, for account, 941, ; Three
per Cents. Reuced, 94, 31, ; New Three per
Cents., 94, 31 ; Bank Stock, 266, 6 ; India Stock,
219, id. ; ditto Fire per Cent., 1114, 11, I, 4.

Owing to the almost entire abeorptiun by the
investing public of the floating supply of the
India Five per Cent. stock and debentures, as well
as India Bonds and Exchequer Bills, there was an
increased demand to-day for Indian railway deben-
tures, and prices showed an upward tendency.
Bank of England stock was in request.
Very few dealings were recorded in foreign
stocks. Italian Bonds of 1861, Mexican, and
Turkish of 1865 were flat, and declined to per
oent., but Spanish Certificates advanced Other-
wise no variation occurred.
The amount of business in bank shares was
limited. Chartered Mercantile of India and Lou-
don and Westminster were flat, and fell 11., but
Imperial showed firmness, transactions being re-
corded at 19. _ _ _ _ _

In the market for financial shares, London Finan-
cial experienced a fresh decline of 11. , but the other
descriptions were without movement. Prices dosed
as follows :—lnternational Financial, 21 to dia. ;
General Credit, 21 to 2 din. ; London Financial,
25 to 23 dis. ; and Credit Foncier, 6 to 61 dis.
Anglo-American and Atlantic Telegraph Eight
per Cent. Preference shares declined 21. 6d.,
dosing at 181 to ; and 44 to 1 respectively, while
Telegraph Construction were unchanged at 2 to 1/
dis.
Hudson's Bay shares dosed at 15 to 1, and
National Discount at 61 to 7 prem. The changes
in the miscellaneous market comprised a rise of B.
in Peninsular and Oriental Steam, and a reduction
of 2s. 6d. in New Zealand Loan and Mercantile
Agency
The only movement in colonial government
securities was a reduction of 1 per cent. in Canadian
Six per Cents. of 1877-84.
The market for American securities was rather
flat. The 5-20 Bonds, including those of 1885,
declined 1 to 4 per cent., Atlantic and Great
Western Railway Debentures 1, and Erie Railway
shares 1, but Illinois Central improved 1. Prices
were last quoted as follows :-5-20 Bonds, 1862,
724 to 1 ; Erie Railway shares, 45 to 4 ; Illinois
Central, 771 to 1, ex div.; Atlantic and Great
Western Railway Debentures, 274 to 284 ; and
Consolidated Mortgage Bonds, 214 to 224.

MINE&-(THIS DAT.)

Oxs Mom.

The Mining Exchange is certainly open, but
there is no attendance, and prices are nominally
the same as those of yesterday.
The subjoined report on the metal market is
fmm the circular of Messrs. von Dadelszen and
North

We have to report a more animated business in some
branches of the metal trade, combined with aslight advert*,
in value, while in others there hu been very little business
and a tendency for lower prices. Iron.—Welsh bars rind
rails continue quiet but without shange is value; Stafford.
shire descriptions are more in demand ; Scotch pig ire&
keeps its position at Ida. cash. Copper.—A limited busi-
ness has been done in English ; tough, 761. to 751., and
considerable sales of manufactured are talked of slight
under 801. ; foreign, 9uiet ; Burrs, WM. nominally ;
lam, 831. ; Chili bars in Liverpool, QC Tin.—The market
is strong with a considerable amount of business; Strata,
87/. 10.. cash, and SKI. to arrive ; Banta, 92J. ; English tin
full up ; in Holland the market is firm at 531 f. Tin plates.
—Cokes maintain their recent advance, and charcoal are
also more in demand. Lead.—No change to report, very
quiet market. Spelter.—An extensive business has best
during the last few days, varying in price frog
reported during
warehouse to 211.25. od. ex ship, sad in out-
ports front %K. 17a. tid. to 21!. 2a. fid. for special brands.