The Express.
London, England, 1867-08-06 00:00:00

99 101

MONEY NABENT.-(THIS DAY.)

On o'0&oan.

The stock markets are flatter, owing chiefly to
the unfavourable weather for the crops. Some
disappointment has also been caused by the cir-
cumstanoe that the government broker has not
commenced to-day his operations for the Sinking
Fund. As the amount to be invested before the
expiration of the present quarter, however, is as
much as 551,0431., it is thought that these invest-
ments cannot be delayed beyond next week. Consols
have declined 1 per cent., and British railway se-
curities Ito 1, the most important fall being in
Metropolitab stock. On the other hand, some of the
foreign bonds are rather better, upon the antici-
pated failure of the New Russian Loan. Prepara-
tions for the monthly settlement in the English
funds have commenced ; the rate of " continua-
tion" is about 11 per cent. per annum.
The discount market is still freely supplied with
money, while the demand is very moderate. The
rate for choice paper ranges from 11 to 11 per cent.
Consols are quoted 941 to 1. both for money
and next Thursday's settlement, and 941 to 1 for
the new account (Sept.). The Three per Cents.
Reduced and New Three per Cents. are frac-
tionally worse, at 931 to 1.
The railway market is flat to-day, and, with the
exception of a rise of per cent, in Great Northern
(original) stock, the changes in prices are all un-
favourable. Metropolitan has declined per cent. ;
Midland and Brighton} ; Great Western, South
Eastern, and London, Chatham, and Dover,
; and London and North Western, Great
Eastern, and Great Northern A, 1. London
and North Western stock is quoted 1111 to
; Great Western, 42 to ; Midland, 1161
to 1 ; Lancashire and Yorkshire, 128 to 1 ;
Great Northern, 112 to 113 ; ditto A, 1131 to 1 ;
Great Eastern, 27 to ; South Eastern, 64 to ;
Caledonian, 1091 to 1101 ; North British, 301 to
311 ; Metropolitan, 122 to 1; London, Chatham, and
Dover, 16 to 1 ; and London, Brighton, and
South Coast, 49 to 1.
The Indian Five per Cent. Stock is steady ;
the present price is 1111 to 1121.
Greek and Spanish Passive Bonds have improved
/ to 1 per cent., the present prices being 131 to
and 201 to 1, respectively. The Committee's Cer-
tificates are 1 better, at 151 to 16/. Some of the
Russian Bonds are also firmer. Turkish of 1862
are steady at 56 to 57 ; ditto of 1865 at 301 to 1 ;
Italian of 1861 at 481 to 1 ; and Mexican at 151
to 1.
United States 5-20 Bonds are unchanged at 721
to 731, but Erie Railway shares have experienced
a fresh decline of 1 per cent., viz., to 44 to 1.
Illinois Central are} per cent. higher, at 761 to 1.
As regards Bank shares, London and West-
minster have declined 1/., viz., 96 to 98. Other
descriptions are unaltered.
_ _

Financial shares are without variation. Sub-
joined are the prices :—lnternational Financial,
21 to 2} dis. ; London Financial, 24 to 23 die. ;
General Credit, 2i to 21 dia. ; and Credit Fonder,
to 5j dis.
The half-yearly meeting of the General Steam
Navigation Company, will be held on the 27th inst.,
to declare a dividend for the half-year ending on
the 30th of June.

The annual meeting of Hodges' Distillery Com-
pany (Limited) is called for the 15th inst.
The voluntary winding up of Gale's Protected
Gunpowder Company (Limited) is to be continued,
but subject to the supervision of the Court.
At a meeting yesterday of the Spanish Passive
bondholders a resolution was passed against the
acceptance of the settlement of the Passive debt,
with a compulsory cash payment, as proposed by
the law of the 11th of July, 1867. The committee
I were requested to communicate this resolution to
the Committee of the Stock Exchange, and to con-
tinue their opposition to any applications that may
be made for giving a quotation to any new Spanish
securities until the claims of the Passive bond-
holders are satisfactorily settled. This result was
fully anticipated, since the proposed operation in-
volved, not so much a simple recognition of exist-
ing claims, as the raising of a fresh loan in conside-
ration of acknowledging debts the validity of which
has never been disputed.
There were no gold transactions at the Bank yes-
terday, but it is thought that a portion of the
recent arrivals from the United States will be sent
in during the next few days, owing to the firmness
of tho Paris Exchange. Of the 353,000/. by the
Scotia, from New York, upwards of one-half,
consisting of eagles, has been taken for the con-
tinent.
The Hermann has arrived from New York with,
105,0001. in specie, and the Oneida from Brazil
with 19,2891.
The subjoined circular has been issued by the
London Tavern Company (Limited):

ffir,—The directors, in declaring an ad-interim dividend,
have deemed it prudent lo limit the amount to a payment
at the rate of six per cent. Thennum, until the expira-
tion of the current year. have, however, much
pleasure in assuring the shareholders that the respective
profits of the London Tavern and the Albion, dung the
pest six months, as ascertained by the auditors, have been
equal to those of any previous corresponding period. The
directors have thought it desirable to retain in hand •
large portion of those profits to meet the depreciation of
goodwill, &c., which they may consider necessary to be writ-
ten off at the end of the year. By adopting this course,
the directors feel that the interest of the shareholders will
be essentially promoted and the permanent value of the
shares cotaiderably improved. The dividend, for which a
warrant is enclosed, is calculated at the rate of six per
cent. per annum upon 41. per share, from the 31st Decem-
ber to the 30th April last, and at the same rate upon U.
per time from the 30th April to the 30th June last.-1 am,
sir, your obedient servant, Panama]. REED, Secretary.
Bishopsgate-street, London, 8.C., August 6.
The colonial wool sales are fixed to commence on
Thursday, 15th inst. The fresh importations up to
present date, since the beginning of last sales, com-
p prise 119,399 bales, viz, :—New South Wales and
I Queensland, 26,710 bales ; Victoria, 25,015 ; Tas-
mania, 3,410 ; South Australia, 7,507 ; West Aus-
tralia, 144 ; New Zealand, 36,577 ; Cape, 20,036 ;
total, 119,399 ; held over front last sales about
25,000 ; total colonial, 144,399 bales. And further
arrivals are daily expected.
The news from Buenos Apes by the mail just
arrived is satisfactory. Agricultural and commer-
cial industries continue steadily to progress. The
season has been favourable for sheep farmers, and
the lambing has been successful, giving about 27
per cent increase of sheep in the province of Buenos
Ayres. The sheep fleeces look well, and the staple
is expected to be finer and cleaner than that of last
season. The national bonds of the country con-
tinue to sustain the high price of sq, and the
market shows a decidedly better tone. There
was not much doing in the export trade, although
the export of gold was attracting considerable
attention, the rate of exchange ruling at 48i. On
the 27th June, the day before the sailing of the
puket, ounces were 400 dole. ; sovereigns, 1221, ; '
Patacoons, 25.
At the meeting yesterday of the Warrant Finance
Company (Limited) the report was adopted. It
mentioned that the liabilities have been reduced
from 169,7801., at which they stood on the 31st of
December last, to 99,6401. Owing to the delay in
realising the assets, the directors have found it ne-
cessary to make a call of V. per share.
At a meeting yesterday of the Eastern Assam
Company it was announced that the directors are
not in a position to recommend a dividend, owing
to the partial suspension of operations occasioned
by the snits in Chancery.
At a meeting of the Wholesale and Export Drug
Company (Limited), held yesterday, the directors'
report, which was agreed to, stated that the orders
executed during the first year's trading amounted
to 17,6771., showing a profit of more than 20 per
cent., and that 800 accounts have been opened with