The Express.
London, England, 1866-02-08 00:00:00

111021 BY K

ARK 117.--(THIS DA 1.)

Owe o'Oruoa.
The stock markets are steady to-day, with a
fitir amount of business. The English funds, in
which the monthly settlement is in course of com-
pletion, are unchanged for money, but slightly
firmer for the new account. British railways are
quiet, and the only movement of importance is a
rise of per cent. in Metropolitan. London and
'North Western Railway stock is quoted the same
las yesterday, although the dividend just announced
is somewhat higher than that for the corresponding
period of 1864. Foreign bonds exhibit firmness,
especially Greek and Mexican. In the market
for financial shares, London Financial and Over-
end, Gurney, and Co. have advanoed 2s. 6d. to ss.

-

1014
911 1

88e _

100 1911

106 5

The demand for money to-day is quiet, and the
supply good, yet the quotation for choice three
months' bills is maintained at 72 to 8 per cent.
The charge for short loans in the Stock Exchange
is 7 to 7} per cent.

11
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sd

4} zd

IN 12414

la 12d

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10 Ws

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Commis are now quoted 861 to / for money and
871 to 5-16 for the new account (March 8).
The foreign stock market is firm to-day, with
transactions to a fair extent. Greek and Mexican
Bonds were in rather strong request, and have
risen 1 and 1 per cant. respectively. Italian
of 1861 have also improved k, while Spanish
Certificates have receded 1. Spanish Passive
bonds are steady, at the advance of yesterday.
The quotations are as follows :—Greek, 131 to 14;
Iblian,6ll to 62 ; Mexican, 211 to 1 ; Spanish Pas-
give, 261 to 1 ; ditto Certificates, 151 to 1 ; Turkish,
1865, 38f to 39 ; Brasilian scrip, 1 to 1 prism. ;
Egyptian scrip, 1 to 1 prem.
American securities have been little dealt in, and
the only movement is in Erie Railway shares, which
have declined 1 per cent., being now quoted 53 to 1;
5-20 bonds are called 671 to 1 ; and Illinois Rail-
way shares, 741 to 1.
International Financial shares are now quoted
1 to 1 prem., ex div. ; General Credit, 11 to 1
prem.; London Financial, 11 to 11 din., ex div.;
Imperial Mercantile, 1 to 1 prem., ex div. ; Credit
Fonder and Mobilier, 31 to 1 prem. ; Overeni,
Gurney, and Company, 41 to i prem. ; and Joint
Stook Discount, 51 to 41 die.
About 10,000 sovereigns from Lisbon were sent
into the Bank yesterday. The only other operation
reported during the week ending yesterday has been
a withdrawal of 81,0001. for export.
The biddinge for bills on India took place yester-
day at the Bank of England. The proportions al-
lotted were—to Calcutta, 24.4L000 ra. • to Madras,
59.000 re. ; and to Bombay, 8.72.000 re. The
minimum price was as before, viz., is. 111 d. on
Calcutta and Madras, and Is. 111 d. on Bombay.
Tenders on Calcutta and Madras at 2a. will receive
about 85 per cent., and on Bombay at 2e. 01d. in
full. Above these prices in full.
The foreign exchanges on Tuesday afternoon were
firm, and the rates fur bills on Hamburg and Paris
were again rather higher. The Austrian exchanges re-
tain a favourable tendency, and have now reached
a point which has not been witnessed since 1848.
The discount on the Austrian currency, as measured
by the exchange, is now only about 6 per cent.
The circular of Messrs. Guion and Co., of Liver-
pool, shows that the exports from that port to the
United States for the month of January maintain
the great expansion lately noticed. The exports
of British textile manufactures from Liverpool to
New York in the month of January for the last
16 years have ranged from 5,945 packages, as the
lowest, up to 18,835 as the highest ; but in January
last the total wallas much as 25,257 packages. A
similar increase is observable in the exports from
Liverpool to New York of foreign silks and other
fine goods.
The dividend on Midland Railway stock for the
half-year (at the rate of 7 per cent. per annum)
shows a decline compared with the corresponding
period of 1864, the distribution being then at the
ate of 71, yet the stock rose 1 per cent. yesterday.
The London and North Western Railway traffic
return shows this week an increase of 7,2081. over
last year; the Midland an increase of 5,2751. ; the
Great Northern an increase of 2,4541. ; the Great
Eastern an increase of 1,5541., and the Great West-
ern an increase of 3,5161.
The subjoined memorandum from an accredited
source has been forwarded to us for publication,
apparently on behalf of the London Financial Asso-
ciation, with whom we must leave the responsibility
of the statement contained in it :
With refersoce to the temporary stoppage or Mr. envie,
the railway contractor, we uodent.nd that the London
Final:aid Association bare advanced 30,00111., sod hold
ample security to the est eat el 75,000/.
In the prospectus of the American Oil Wells
Trading Company (Limited) the directors under-
took to apply to the Stook Exchange for a settling
day within one month, and they also gave a bond fide
undertaking that, in the event of a settlement not
being granted, the deposits should be returned in
fulL The company's articles of association con
firmed this provision in still more explicit terms,
inasmuch as they fixed at two months from the
date of allotment the term within which the settle-
ment was to be obtained. The stipulations thus
entered into have been strictly carried out. The
allotment was made on the 6th December,
and a settlement was duly . applied for on
the 2nd January. The appointment of a set-
tling day, however, has been delayed through the
proceedings in Chancery, instituted by certain dis-
contented subscribers, and, though the Vioe-Chan-
cellor hes dismissed the rule which these parties
had obtained on cx parte statements, and has con-
demned them in costa, the result has been that,
while other companies which applied at the same
time to the Stock Exchange for a settlement have
obtained it, the decision upon this company's ap-
plication has been postponed to the full term of
two months designated in the articles of associa-
tion. The directors, in strict and honourable ful-
filment of their agreement with the subscribers, have
accordingly determined that the deposits shall be
forthwith returned to them in fall. It is to be
hoped that the failure which has exceptionally
attended the adoption of so intelligible and honour-
able a principle in the case of this oompany will not
discourage the promoters of other new enterprises
from following the example, with such modifications
as this company's experience suggests.
At the general meeting of the City of London
Brewery Company (Limited), held yesterday at the
London Tavern, Sir James Duke, Bart., in the
chair, the accounts showed that the total profits for
the year 1865 amount/id to 69,7041. 4s. 11d. A
dividend of six per cent. was declared, which, with
four per sent. paid on account in August last, made
a total distribution of 57.4501., being ten per cent.
for the year. As usual 4,0001. was set aside to meet
the iodinated yearly depreciation in the company's
leasehold properties ; and 6,5391. 19s. 6d. earned
to reserve fund, which fund now amounts to 33,5241.
7s. 4d. The balance carried forward to profit and
loss new account is 1,7141. ss. sd.
At an extraordinary meeting yesterday of the
abarehoiders in the Bank of London it was finally
resolved to divide each 1001. share into five shares
of 201. each.
The directors of the Salisbury and Yeovil Rail-
way Company have agreed to recommend a divi-
dend on the ordinary shares at the rate of 6 per
emit per annum for the past balf-year.
The annual report of doe directors of the Com-
, YsilaathalfLofirsereAr tidikipEnedeheofannt74a.p(l.6lrcimian.
annum,
sremlium,h2ollliidi
require 8,8871. 10,0001. sto be carried to a
reserve fend, and the balance, 17,5011., is to be
' carried to credit of profit and loss for the current
I
year Ai an extraordinary meeting of the Nations!,
Discount Company (Limited), bold yesterday, the
special resolution pealed at the cedinary gravel
meeting on the 114th ultimo, as to iocreasing the
;spite) from three to four millions by_tbe Imlay of
111.000 sew Aar* at a premium of U. per Aire,
*it sassaariar econlialsaL
a

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