The Express.
London, England, 1866-11-02 00:00:00

MONEY M.

'HIS DAY.)

Ona
The share markets opened quietly this morning,
and very few dealings have since been reported.
The funds are offered at, and exhibit a decline of
per cent. British railway stocks are likewise
rather dull, but the only movement in the
chief lines is a reduction in Midland. North
British is quoted the same as on Wednesday,
the unfavourable statements contained in the
report of the committee of shareholders, just issued,
with regard to the past financial management of
the undertaking having been anticipated, and the
result being a large " bear" account in this stock
at the present moment. As regards foreign bonds,
the most noticeable feature is an inquiry for
Turkish of 1865 and Greek. Atlantic Cable shares
present a recovery.
Sunday next being the 4th of the month, the
demand for money to-day has somewhat increased,
but the best paper is still taken at to ft per cent.
be

[ow the Bank minimum. The rate in the Stock
Exchange for advances from day to day on English
government securities is 3to 3 per cent.
Consols are now quoted 8% to for money, and
89. i to for the Bth of November. _ _

The foreign stock market is quiet, with little
business. Turkish of 1865 and Greek Bonds, how-
ever, are in request, and have risen 1 per cent.
Spanish Passive, the Committee's Certificates,
Italian of 1861, and Mexican are unaltered.
Turkish Bonds of 1862 are quoted 571 to 581 ;
ditto, 1865, 301 to / ; Greek, 14 to 1 ; Spanish
Passive, 211 to 22; ditto Certificates, 13i to 14; ;
Italian of 1861, 55g to / ; Mexican, 151 to 16A.
American securities show no movement. The
5-20 Bonds are quoted 68, to 1 ; Brie Railway
shares, 511 to / ; and Illinois Central, 77 to 1.
Anglo-American Telegraph shares are in de-
mand, and have recovered 58., viz., to 141 to fi.
Atlantic Telegraph are also 2s. 6d. better, at
4 3-16 to 5-16.
International Financial shares are quoted 11
to 11 die. ; London Financial, 151 to 144 dis. ;
General Credit, 21 to 2 dis. ; Credit Foncier,
4g to 4k dia. ; National Discount, 10 to 1 prem. ;
and Hudson's Bay, 16g to /.
HALF-PAST THREE O'CLOCK.
Consols remain dull, at 891 i to for fur money, and
891 to g for the account (Nov.).
About 108,000/. in gold has been bought by
the Bank, and 7,0001. withdrawn for Alexandria.
At I'aris this morning the Three per Cent. Rentes
opened at 681 r. 85c., showing no change.

An examination of the Bank return, analysed
below, which shows a further considerable falling
off in the business of the discount department,
combined with a satisfactory increase in the bul-
lion and reserve. It is true that a portion of
such gold as comes in is now exported
to the continent, and that some revival of the de-
mand for silver to the Eaat is to be looked for in
course of time ; but, on the other hand, the Bank's
position is decidedly strong ; a large amount of
sovereigns will probably flow back to London this
month from the provinces, the harvest being over;
and there is no likelihood that a further relaxation
in the money market would stimulate speculation,
which is quite dead.
The deputation appointed at the meeting held
at the London Tavern last week, on the subject of
the Atlantic and l'acific Railway through Nica-
ragua , united yesterday, by appointment, on Sir
'John Pakington, at the Admiralty. After remarks
from Captain Bedford Pim, R.N., Mr. Hawksley,
C. E., mid Captain Maury, D.C. L., the First Lord
said that he had lung been sensible of the impor-
tance of the question, and he added that, subject
to the approval of her Majesty's government to
the project generally, he would have the greatest
pleasure in giving his sanction to the occasional
visits of sonic of her Majesty's men-of-war to the
terminal ports of the route. The deputation, which
included, besides the above gentlemen, Mr. J. I'.
Gassiott, F.R.S. ; Admiral Young, director of the
Royal Mail Company ; Mr. Eden Colville, direc-
tor of the Panama, New Zealand, and Australian
Steam Company ; Mr. 0. M. Bowen, director of
the West India and Pacific Steam Company ; Mr.
Parke Pittar (of Messrs. P. Pittar and Co.) ;
Lieut.. Colonel Money, and Mr. J. H. Murchi-
son, F.R.G.S., then withdrew, well pleased with
the courtesy and attention with which they had
been received.
The prospects of the E"yptian Commercial and
Trading Company (Limited) seem to be improving.
The cotton crop in Egypt promises to be very
abundant, and this increases the probability that the
acceptances given by the government to the
amount of 350,0001.' and which will arrive at ma-
turity on the Ist of December, will be duly met.
That the government would meet all the claims
upon it was never doubted for a moment, but at
one period there was a prospect of delay. As soon
as these transactions shall have run off, it is hoped
that the directors will find themselves in a position
to refund within a few months a portion of the call
of 31. per share which was lately paid by the share-
holders in order to extricate the company from its
difficulties. We understand that Mr. Pascoe
Du Pre Grenfell, of the Imperial Ottoman Bank ;
Mr. John Stewart, of the same bank ; Mr. James
Sanders, Mr. John Vesey Fitzgerald, and Mr.
William Paxton, have joined the board within the
last six weeks.
The Great Western Railway traffic return shows
this week an increase of 3,366/. over the corre-
sponding period of 1865 ; the North Eastern, an
increase of 4,425/. ; the Lancashire and Yorkshire,
an increase of 4,4411. ; the Great Northern, an
increase of 1,6101.; the London and South Western,
an increase of 1,2531. ; the Great Eastern, an in-
crease of 2,1041. ; the Manchester, Sheffield, and
Lincolnshire, an increase of 1,1011. ; the North
British, an increase of 2,2111. ; the London, Chat-
ham, and Dover, including the Metropolitan Ex-
tension and branches, an increase of 1,426/. ; the
Metropolitan Extension, an increase of 1131. ; and
the Kent Coast, a decrease of 201.
At the meeting yesterday of the Nova Scotia
Land and Gold Crushing and Amalgamating Com-
pany (Limited) resolutions were passed in favour of
the undertaking being wound up voluntarily.
A general court of the Hudson's Bay Company
will be held on the 20th inst., for the purpose of
electing a governor, deputy-governor, and com-
mittee, for the ensuing year.
The directors of the Russian Ironworks Com-
pany (Limited) have issued a circular to the share-
holders intimating that, under the advice of coun-
sel, they intend to appeal to the House of Lords
against the decision in Stewart's case, and that the
appeal will probably be heard next March.
The Debenture Holders' Committee of the
London, Chatham, and Dover Railway have issued
a notice, from which we extract the following :
The rumours, so freely circulated, that an offer would he
made to substitute an irredeemable debenture stock in
lieu of the redeemable debentures, have apparently sub-
sided ; and the allusion at St. James's-hall that the de-
benture holders had only paid 751. for every 100/. has been
so entirely answered that the committee hope the subject
will never again be revived. The principal and interest of
the debentures due on 30th June last have now been un-
paid nearly four months, and the company have not. as
yet, indicated in any way how those debts are
to be liquidated, although the shareholders for
their own saidaction have examined into their
accounts, and changed a number of the directors.
It is true that the receipts for the present half-year, less
the working expenses and neoesaary payments, are being
pail into the Court of Chancery, but the balance will go
• very little way towards paying the amounts due to the
debenture holders, leaving the deficiency and interest due
at Christmas unprovided for. As the company will pro-
bably apply to parliament for further borrowing powers,
it will be necessary for the committee to be prepared for
any such application, and to be in a position to protect and
of
maintain, in all their integrity, the nghts sad interests
the debenture holders.
The return of the Bank of England for the week