The Express.
London, England, 1866-11-22 00:00:00

MONEY M

ARKET.-(THIS DAY.

ONII O'CLOCK.

In the Stock Exchange, attention is chiefly di-
rected to the scrip of the new Russian Loan, which
has been dealt in to a large extent. The price this
morning rose to 21 to i prem. upon some large
purchases to cover previous speculative sales, but
has since relapsed to 1/ to 2/. This quotation, how-
ever, is 1 per cent. better than that last current
yesterday. There is very little business in
other securities, and English railway stocks and
foreign bonds present no variation of impot Lance.
The funds are flat, and have experienced a fresh!
reduction of 1 per cent. As WAS expected, the
directors of the Bank of England have made no
change to-day in the rate of discount.
The supply of money in the discount market is
not extensive, and the rate for good bills is firm, at
32 to 4 per cent. In the Stock Exchange short
loans on English government securities are obtain-
able at 3 to 31 per cent.
Consols are now quoted 89/ to 90, cure div., for
money, and ssi to ; , ex div., for the account (Gth
December).
Mexican Bonds and Spanish Certificates are dull,
and have declined 1 to k per cent., but the other
speculative descriptions are unchanged, in the ab-
sence of business. Turkish Bonds of 1862
are quoted GO to 61 ; ditto, 1865, 341 to # ;
Greek, 131 to 141 ; Spanish Passive, 21/ to 1;
ditto Certificates, 14 to f ; Italian of 1861, 55 to
/ ; Mexican, 18 to k.
American securities are without variation. The
5-20 Bonds are quoted 70/ to # ; Erie Railway
shares, 50 to / ; and Illinois Central, 74 to 79.
Anglo-American Telegraph shares are called 15
to 1, and Atlantic Telegraph Eight per Cent. Pre-
ference 31 to 4/, showing no movement in either
case.

International Financial shares are quoted 2
to 12 die. ; London Financial, 16} to 15; die. ;
General Credit, 11 to la die. ; Credit Fonder,
5i to 41 dis. ; National Discount, 9.1 to 10 prem. ;
and Hudson's Bay, 162 to 17.
It is understood that the applications yesterday
for the new Russian loan were again large. In addi-
tion to the considerations referred to yesterday, the
prospect of our stock of bullion being reduced
through the operation of this loan will be further
diminished if the current rumour is true, that a
large amount—according to some accounts about
two millions sterling—has already been drawn fur
in advance in bills front St. Petersburg. It is fur-
thermore believed that the bulk of the new stock
will be absorbed on the continent.
About 75,000/. in gold was taken to the Bank
yesterday, making 401,0001. fur the week ; while
in the same period no withdrawals for exportation
have been reported.
The steamer Deutschland has ita:ived from New
York with 81,5001. in specie for England.
The biddings for bills on India took place yester-
day at the Bank of England. The proportions al-
lotted were—to Calcutta, 12,52,000 rs. ; to Madras,
1,30,000 rs. ; and to Bombay, 2,51,500 rs. The
minimum price was fixed as before, at Is. 11.1 d.
on all the Presidencies. Tenders on Calcutta and
Madras at Is. ilia., and on Bombay at Is. 112 d.,
will receive in full. These results show that the
demand fur remittance to India has somewhat
subsided.
The Midland Railway traffic return shows this
week an increase of 3,0051. over the corresponding
week of last year, and the London and North
Western an increase of 1,655/.
The traffic receipts on the Atlantic and Great
Western Railway for the fourth week in October
were 135,326 dole., against 164,841 doh. in the
period of last year, showing a
decrease of 29,515 dolt. The receipts from the
Ist January to the 31st October amounted. to
4,652,528 doll., against 4,386,919 dolt. last year,
showing an increase of 295,609 dole.
The receipts of the Grand Trunk Railway of
Canada, for the week ending the 3rd inst., were
30,391!., being 1,327/. more than in the corre-
sponding week of last year.
The receipts of the Northern Railway Company
of Buenos Ayres for the four weeks ending the lit
October were 2,3821., against 1,760/. for the corres-
ponding period of last year.
A general meeting of the Indian Branch Rail-
way Compfuly (Limited) is called for the 39th inst.,
and the half-yearly meeting of the Calcutta and
South Eastern Railway Company (Limited) for
the 29th.
The half-yearly meeting of the African Steam-
ship Company is fixed for te sth December.
A half-year's interest at the rate of 6 per cent.
per annum is now being paid on the shares of the
Lemberg-Czernowitz Railway Company.
A meeting of the creditors and contributories of
the London, Italian, and Adriatic Steam Naviga-
tion Company (Limited) is convened, pursuant to
the directions of the Master of the Rolls, for the
28th inst., at the London Tavern, " for the pur-
pose of ascertaining the wishes of the creditors and
contributories of the company in the matter of the
sate of the six steamships of the company,with refe-
rence either to the confirmation by the court of a
contract pr)visionally entered into by the liqui-
dators, or to the adoption of such other course for
the sale thereof as the meeting may think fit to re-
commend."
The adjourned extraordinary general meeting of
the Grand International Alliance Hotels Company
(Limited) is to be held on the 28th inst. to confirm
the resolution passed on the 3rd September.
Annexed is the report of the directors of the
Trust and Loan Company of Upper Canada, to be
presented at the general meeting on the 30th inst.:
The following report and statement of accounts for the
six months ending the 30th of September of the current
year is submitted to the proprietors. The net profits
during this period amount to 12,0i4/. 17s. 3d., which,
o t
added the sum brouht forward from March, gives a
balance at credit of revenue of 12,224 f. is. 41. The direc-
tors recommend that out of this balance a dividend at the
rate of 7 per cent. per annum, less income tax, be declared
on the paid-up capital stock of the company : that one-
half of the surplus profits over 6 per cent, per annum, and
the usual charge for interest, amounting together to
2,963/. 12s. Ild., be carried to the reserve fund, in accord-
ance with the provisions of the Royal Charter of Incorpo-
ration ; and that 250/. be applied to the redemption of
preliminary expenses. There will then remain the sum of
260/. 14s. lid. to the credit of the next half year's account.
During the period embraced by these accounts the
reserve fund Las been charged with the sum of 234/. 4s. 5,1.
for losses or. realization of securities in default. The
amount carried to its credit out of the last half-year's
profits bas been 3,696!. ls. liL instead of 3,946/. ls. Id. as
recommended in the last report, the VIOL set apart for
preliminary expenses having been erroneously included in
the latter sum. The balance at credit of this fund. after
adding the 2,963 r. 12s. 111 above referred to, will be
70,462/. 91. 4d. The continued cautions policy rendered
necessary by the recent financial crisis in this country has
unavoidably influenced the business of the company in
Canada, and diminished the amount available for distribu-
tion amongst the shareholders on this occasion. The direc-
tors have, however, the satisfaction of stating that, in
view of the improvement which is gradually taking place
here, and to meet the existing demands for loans in
Canada, they have felt themselves warranted in resuming
active operations, and they confidently anticipate that the
whole of the funds at their disposal will shortly be
absorbed by secure and profitable investments.

WEDNESDAY EVENING.
Consols, which closed yesterday at 88i to ex
div., for the 6th December, opened and closed to-
day at the same quotation. For money the last
price was 90 to it, with dir. The official business
report is as follows :—Three per Cent. Consols, for
money, 901, 894., 90i, 90 ; ditto, for account, 88k.,
; Three per Cents. Reduced, 87i, ; New Three'
per Cents., 87' ; Bank Stock, 25'0 ; India Five
per Cent. Stock, 106 i, ; ditto Four per Cent.
l'enfaced" rupee paper, 84.
The India Five per Cent. stock was steady.
Exchequer Bills remain quoted Is. to ss. prem.
In the foreign stock market, apart from the
dealings in Russian scrip, the principal feature was
an active demand for Mexican, which ruse per
cent. The purchases appear to be chiefly liased
upon a hope that good will accrue to the bond-
holders' cause from the species of protectorate

which the United States can scarcely help main-
taining over Mexico should Marianlian quit the
country. Danubian Principalities Bonds also im-
proved 1 per cent., Italian of 1861, +, and Turkish
Five per Cents. of 1865, ; but, with these ex-
ceptions, the foreign stock market was drill. There
was a reduction of about 1 per cent. in Turkish of
1858, and Peruvian, and 4 in Spanish Deferred.
Russian Bonds of 1650 and the Three per Cents. of
1859 have again suffered to the extent of 1 per
cent., through the competition of the new loan.
The shares of the Bank of British North Ame-
rica met with inquiry, but otherwise bank shares
w2re dull. Merchant, Mercantile and Exchange.
South Australian, Union of London, and Char-
tered Bank of India, Australia, and China were
quoted rather lower.
Anglo-American Telegraph shares were again
inquired for, and improved 2s. Gd. to 55., closing
at 15 to 1 ; but Atlantic Telegraph Eight per Cent.
Preference and Telegraph Construction were un-
changed, at 3 15-16 to 4 1-16, and die. to par,
respectively.
The shares of the financial companies remain
quite without alteration. Prices closed as follows :
—lnternational Financial, 11 to If die. ; General
Credit, 11 to dis. : London Financial, 14 to
I 1511 die. ; and Credit Fonder of England, 51 to
4} dia.