The Express.
London, England, 1866-12-28 00:00:00

THE EXPRESS, FRIDAY EVENING, DECEMBER 28, 1866.

SHARE LISTS.-(THIS ,DAY.)

82,431

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12 £3
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10 8 dil -
1242
7 9 Pln '
it
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1 pro
20 21
62 63
6$ 44
12 13
3 2de 17]
10 7 (lb
es or 97
14 16
_ ..

il -9
4101
9 7 dli
9 8 dig
3 2 Oil
I 2 pail
par 2 gaol

\5 5 --
idt. ;em
as ei
re filita •
84 86

ii abl
6 dill

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a MI

• I 77 82

SIB ge

MONEY MARKET.-(THIS DAY.)

-
03ra oeosaaa.
The stock markets opened flatly this morning,
and prices have since given way, upon sales to
realise profits, which in most cases must be large,
bearing in mind the extent of the advance
' during the last ten days. Some speculative
sales for lower prices have also been pressed in
British railway securities, owing to the less
favourable traffic returns just issued, and the re-
lapse in chief descriptions ranges from 1 to 1 per
cent. The reduction in the funds is } per cent.
The principal movement in foreign bonds is a fall
of 1 per cent. in Turkish of 1866. The fortnightly
settlement will be completed this afternoon.
The demand for money in the discount market
to-day is rather moderate, but at the Bank of
England it is active. The quotation for the best
three months' paper is ati per cent., with excep-
tional business at 31. The rate for short advances
on stock is 3 per cent.
Consols are now quoted 901 to 1, ex div., for
money, and 001 to 1, ex div., for the account
(January 10).
The foreign stock market is rather dull.
Turkish Bonds of 1865 are pressed for sale, and
have declined 1 per cent. Italian of 1861 and
Mexican are likewise 1 lower. Greek, however,
have improved /. Turkish Bonds of 1862 are
quoted 58} to 59/ ; ditto of 1865, 31 to 32 ;
Greek, 141 to 1 ; Spanish Passive, 211 to 1 ;
ditto Certificates, 13} to 141 ; Italian of 1861,
53 to 1, ea div. ; Mexican, 181 to 1 ; and Russian
Scrip, 1 toll prem.
American securities are steady. The 5-20 Bonds
are quoted 721 to / ; Erie Railway shares, 451 to
46 ; and Illinois Central, 7N to 791.
Anglo-American Telegraph shares have recovered
53., viz., to 15?. to 1. Atlantic Telegraph are also
slightly better, at 31 to ;:.
International Financial shares are quoted 2
to 11 dis. ; London Financial, 161 to 151 die. ;
General Credit,2 to 11 dia., ex all ; Credit Foncier,
4} to 4! die. ; National Discount, 9l to 1 prem. ;
and Hudson's Bay, l 6 to 1.
The twenty-second ordinary general meeting of
the shareholders of the City Bank will be held on
the 15th pros., to receive the directors' report and
declaration of a dividend.
The forty-sixth annual meeting of the Imperial
Life Insurance Company will be held on the Sth oi
January, when the report of the auditors to the
31st of Oct. last will be presented.
An extraordinary general meeting of the English
and Foreign Credit Company is called for the St h
of January.
A petition for the winding-up of the Moyar
Coffee Company has been presented to the Court
of Chancery, and is to be heard before Vice-Chan-
cellor Matins on the 12th of January.
11 kLF-PAsT ONE O'CLOCE.
There is a renewed demand for public securities,
and the tendency of prices is now generally better,
especially as regards English railways. The funds
are quoted the same as at 1 o'clock, but are firmer

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ft
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21 21
24
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vs 22
1 2
11 13

1
12 14
424 55
120 130
65 70
18 20
10 12
10 145
1 7 9

15 zd

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in tone.
It is evident that the difficulties of the Lon-
don, Chatham, and Dover, and the unsettled
condition of the Great Eastern and some other
railway companies, combined with the question
of illegality which arose as regards deben-
ture issues in one or two exceptional cases, led
during many weeks to a system of wholesale specu-
lative selling, accompanied, in too frequent cases,
by depreciatory devices. A large outstanding spe-
culation for a fall having thus been formed, in face
of a growing plethora of money, the elements of a
great rebound in prices have been gradually
created. Amid the fears which are expressed
relative to the increased burden that may be
cast upon the revenue of some companies
in weak credit through their being mulcted in
higher rates upon the renewal of debentures, it
may perhaps be useful to point out that any
change
which may take place in this respect can scarcely
fail to redound, in the long run, to the disadvan-
tage of the travelling public. To a considerable
extent the railway companies have a means of com-
as} xd penation in their own halide, in the shape of
rise in the fares. It may be objected, perhaps,
that the fear of competition will prevent this
expedient from being resorted to, but of late years
instances of amalgamation and fusion of interests
have become frequent amongst railway companies,
- and the movement is likely to spre ad. Nearly
every necessary of life has risen in price during
- the last few years ;so have railway materials.
- Why, then, should not the cost of railway tra-
velling rise also
A petition, numemody signed by the members
in favour of closing the Stock Exchange on New
Year's-day, was presented to the committee yes-
• terday afternoon, but that body decided against it,
though by a very small majority, owing chie2y to
the circumstance that many loans on stock have
to be renewed or repa on the lst Janua.
The amount of goldid sent into the Bank yesterday
was 39,000/.
The America, from New York, has brought
59,0001. in specie, and the Toenail, from Alexandria,
4,734/.
Subjoined is a copy of a private telegram from
Bombay, dated the 13th inst. :
Exchange on London for a tint-class hank bill, 0 months
sight, per rupee, Is. 11 fd. ; the Calcutta rate for ditto,
per rupee, 2a. exchange on Calcutta at sight,
101 to 101); government 4 per cent. paper, rs. ; ditto
5 per cent. thtto, re. 1041 ; ditto 51 per cent. ditto,
rs. 1101; Bank of Bombay rate of discount, ; bar gold. 091
touch, rs. per tola, Iti•g ; bar silver 17 to 17k better-
nese, ra. per 100 totals, 21,000 'bales cottiin sailed II
from Bombay during the fortnight. Imports quiet.
A comparison of the above rates with those current on the II
28th November (the previous mail day) shows the fol-
lowing changes : —ln Bombay exchange on London a fall
of per cent. ; Calcutta ditto ditto, a fall of A per
cent. ; Bombay exchange on Calcutta, no change ;
can government 4 per cent. paper, a decline of 1 per I
cent. ; ditto ditto 5 per cent. ditto, a decline of 1 bier
cent. ; ditto ditto Tik per cent. ditto, a riee of per
cent.; Bombay Bank late of discount, no change ; Bombay
price of bar gold, no change ; ditto ditto silver, a rise of
per cent.
The Lancashire and Yorkshire Railway traffic
return shows this week an increase of 4,332 i. over
last year ; the North Eastern au increase of 780/.; the
London and South Western, a decrease of 2,092!.
the Midland, a decrease of 1,542/. the Man-1
chester, Sheffield, and Lincolnshire, an increase of I
1,049/. ; the North British, an increase of 8171. ;
the London, Chatham, and Dover, including the
Metropolitan Extension and branches, a decrease I
of 137/. ; the Metropolitan Extension, a decrease
of 271/. ;and the Kent Coast, a decrease of 180/.
The net profits of the Anglo-frimerican Telegraph
Company having exceeded the rate of 25 per cent.
per annum from the date of opening the cable for
public traffic on the 28th July last, it is
officially
notified that the directorshave resolved to distribute
F
to the shareholders early in ebruary a " dividend
on account," equal to ten per cent. on their shares,
leaving the remaining 15 per cent. to be disposed
of by the proprietors at the annual meeting to be
held in July or August next.
The Atlantic Telegraph Company have issued an
important circular to their shareholders with refe-
rence to the 100,0001. of 5 per cent. mortgage
bonds, held by the Telegraph Construction and
Maintenance
hole to
bonds were for two
years, and as the holders refuse to renew them the
Atlantic Telegraph Company must meet them. To
do so out of revenue would destroy all hopes of a
dividend for some and the directors propose
that these bonds shall time,
taken up by the share-
holders for three years, with interest at 5 per cent.

--------
The company has power to increase its capital by
800,0001., and when an opportunity occurs the
new stock will be issued, and the mortgage bonds
will be taken up with a part of the money so raised.
The security offered is the priority of the mortgage
claims to all others. The company is taking nearly
a thousand pounds a day, with every prospect
of this being exceeded.
The General Trading Company (Limited) have
passed a resolution to wind up voluntarily, and have
appointed Mr. Hubert George Grist, of No. 9s, New
Broad-street, public accountant, and Mr. John
James, of Sise-lane, liquidators. An order has
since been made to conanue the voluntary winding
up, subject to the supervision of the court.
The " Coffee Cocoa, Cotton, and General Pro-
duce Freehold' Estates Conl any of Venezuela
(Limited)," have passed resolutions to wind up
voluntarily, and have appointed Mr. Edward
Addis, of No. 41, Threadneedle-street, public
accountant, liquidator. An order has since been
made to continue the voluntary winding up, sub-
ject to the supervision of the court.
It seems that already the Americans are availing
themselves to a considerable extent of the line
between Panama and the Arstralasian colonies,
worked by the Panama, New Zealand, and Austra-
lian Royal Mail Company, as many as 24 passen-
gers from New York having joined the steamer
which left the Isthmus on the 24th Nov.
The Northampton, 1,174 tons register, Captain
Rowe, belonging to the Merchant Shipping Com-
pany, arrived on Wednesday afternoon in the East
India Dock. This ship has made the voyage from
Greenock to Calcutta, and thence to London, in
7 months and 8 days, 65 days of which were ex-
pended in landing and taking in cargoes. The
Northampton landed the Greenock pilot on the
18th May last, and took the Calcutta pilot on hoard
on the 29th July, making the p.---‘sage out in, we
believe, the unprecedentedly short time of 7'2, days.
On the,
2nd of October the outward Calcutta pilc-
left the ship, and on the 84th day she was in tile
East India Dock, with a general cargo of 1,900
tons. The Northampton is a specimen of the new
composite principle of shipbuilding, having an iron
frame and teak planking.
The return of the Bank of England for the week
ending Wednesday, December 26, compared with
that for the previous week, shows the following
changes:

Circulation issue
Circulation active ....
Public deposits
Other deposits
Government securities in
banking department 13,011,=2 No change.
Other securities in banking
department 20,241,25.; Increase 416,054
Coin and bullion in both
departments
Seven day and other bills 450110 Decrease 40,217
The Rest 3,21;4.777 Increase
Notes in reserve
Total reserve (notes ts coin)
in banking department... 12,314,424 Increase r. 99 2:,r.
'Owing to the continued intiux of deposits—a move-
ment which has been only partially con:ll,ra,:tea
by the enlargement of the advances on private
securities—the reserve has experienced a further
increase of close upon 60(1,000/. The increase in
the coin and bullion is at the same time 4:12,14:i1.
—a sum less by about 120,000 i. than the amount
known to have been sent into the Bank during the
week from abroad. The ditkrence is probably to
be accounted for by withdrawals of coin y
bankers and others to meet Christmas and nebw
wars payments. Both as regards bullion anti
rtsorve, the position of the Bank is now extra-
ordinarily strong.

. Z 33,307,00 Ineresee k605,f1.35
21,%;3,i.:. )ecrease 167.1211
5,7116,3ta incrtaise k;, i i
18,:a2,2.54 Increaae 411,1

BANK OF J
An Amount pursuant to the Act
week ending on Wednesday,

neva tdir,
Notes issued aii,Jul,bee

ENOLAND.
7th and tith Vie.. e. St fer the
the ..;th tlay of bee., land.
PaitTIENT.
GtrYCIIIIIient deld... a. 11,015,100
Other securities.... 3,9t4, aOO
Gold coin and bul-
lion
Silver bullion

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