The Express.
London, England, 1867-07-09 00:00:00

N.&
&S.W.
N.N.
W.N.W.

N.E.
B.S.W.
8.8. W.
8.8. W.
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N. X
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s.w.

MONEY MARgET.-(THIB DAY.)

On o'Ossoz.

The stock markets to-day are characterised by
dulness of tone, and prices generally exhibit a
drooping tendency. Attention is principally
directed to the preparations for the monthly
settlement to-morrow in the English funds. As
was anticipated, these arrangement& show that
most of the recent purchases were speculative, and
in some cases weak operators have been com-
pelled to close their accounts, thus causing
a reduction of A per cent. in Consols. The bulk of
the stock, however, has been carried over to the
next account at about 2i per cent. per annum, the
supply of money in the Stock Exchange being
superabundant, owing to the payment of the divi.
dends. Most of the British railway securities have
given way, as well as some of the foreign bonds.
The payment of the dividends to-day has largely
increased the floating supply of capital, and, with a
very moderate demand, choice bills are taken at
two per cent., or ti below the Bank rate. In the
Stock Exchange short loans on English govern-
ment securities are offered at 17, per cent. per
annum.

Consols are now quoted 941 to /, ex div.,
for money and NI to I, ex div., for the new account
(August 8). The Three per Cents. Reduced and
New Three per Cents. are steady, at 931 to 94.
Foreign Stocks are dull, and a reduction of 1 per
cent. is observable in Turkish of 1865, Spanish
Passive, and Italian of 1861. On the other band
Spanish Certificates are 1 better. Turkish
Bonds of 1862 are quoted 56 to 57, ex div. ; ditto
Five per Cents. of 1865, 311 to 1, ex div.; Greek,
141 to 15 ; Spanish Passive, 221 to 23 ; ditto Certifi-
cates, 151 to / ; Italian of 1861, 481 to 49, ex div. ;
and Mexican, 161 to R.

United States 5-20 Bonds and Illinois Central
Railway shares have improved 1 to 1 per cent., the
present prices being 73 to 1 and 791 to 1, respec-
tively. Erie, however, have declined 1 per cent.,
viz., to 431 to 1.
Anglo-American and Atlantic Telegraph Eight
per Cent. Preference shares are inactive, the former
are quoted IN to 1, and the latter 44 to 4.
The only movement in financial shares is a rise
of ss. in Credit Foncier, viz., to N to 51 dis.
General Credit are quoted to 11 dis. ; Inter-
national Financial, 2 to 11 dis. ; and London
Financial, 22 to 21 dis.
The annual meeting of the Pacific Steam Na-
vigation Company will be held on the 31st inst.,
when a resolution will be submitted in favour of
increasing the capital of the undertaking and ex-
tending the limits of its operations.
The influence of the coming vacation season is
already making itself felt, and it is evident that
the public are not yet tired of looking at
their idle money; though all experience leads to
the belief that just in proportion to the duration
of their apathy will be the force of the accumulation
and the ultimate eagerness of its possessors to
rush into every description of enterprise.
The amount of the dividends payable to-day
on Consols and the New Three-and-a-Half per
Cents. and Two-and-s-Half per Cents. is about six
millions sterling, without reckoning the dividends
on the India Five per Cent. Stock and numerous
other securities due at this period.
A meeting of the holders of the debt of the re-
public of Honduras was held yesterday at the office
of the committee of Spanish American Bondholders,
when the proposal made on behalf of the govern-
ment for the settlement of the debt was accepted.
The Warrior Queen has arrived from Otago,
New Zealand, with 14,0001. in gold. The mail
steamer for Brazil, which will leave to-day, will
take 7,500/. in silver, and 2,5501. in gold.
A dvices from Liverpool announce the failure of
Messrs. Mellor and Southall, an old and respectable
firm in the Brazilian trade. The position of tie
house appears to have been weakened of late by
the death of one partner and the retirement of
another, as well as by some large losses in cotton.
'The liabilities are roughly estimated at upwards of
300,0001., and it is thought that the liquidation
will turn out unfavourably.

A telegram, dated Calcutta the 4th inst., has
been received from the Bank of Bengal (govern-
ment) announcing a dividend at the rate of 10 per
cent. per annum for the six months ending June.
The report of the directors of the Panama, New
Zealand, and Australian Royal Mail Company
(Limited), to be presented at the general meeting
on the 12th instant, refers to the com-
mercial convulsion and great prostration in
trade which marked last year, and which,
combined with the severe competition experienced
by the company on its old lines in New Zealand,
have affected its receipts. On the other hand, con-
gratnlatory reference is made to the fact that the
Panama line has been worked at • fair profit from
the commencement. The past year's accounts,
after allowing for insurance and appropriations to
repairs, renewals, &c., show a debit balance of
6,5431., or, including the interest on debentures
and other home expenses, a total of 18,6061. This
is reduced by the previous credit balance of 9,0251.
to 9,5811., so that no dividend can now be paid.
The directors express an opinion, however, that
the circumstances are entirely exceptional, and
that " the recurrence of any such loss
is highly improbable," especially as the
earnings on the Panama line are increas-
ing, trade is reviving, and the number of
competing vessels is being reduced. The total
amount of subsidies now payable to the company is
128,900/. per annum. The report concludes by
referring to the undeviating punctuality with which,
with only a single exception, the Panama, New
Zealand, and Sydney contract has been performed.
The directors of the North Western Bank
(Limited) have declared an interim dividend for the
six months ending the 30th ult. at the rate of
per cent. per annum, payable on the 18th iust.
It is stated that before the creditors of the Bir-
mingham Banking Company can be paid in full the
contributories will hove to pay a further call of
10!. per share.
The traffic return of the Great Western Railway
of Canada, for the week ending the 21st ult., shows
a deciease of 521.
The transfer books of the General Credit and
Discount,
te 9
Companyhth,unti (Limited)
Mday, will
thbee cll°sBedth mat.,ro
fm
Ti
both days inclusive.
The Crystal Palace Company have advertised the
half-yearly dividends as payable on the 15th inst.
on their preference and debenture stocks.

MONDAY Humana.

Consols, which closed on Saturday at 94! to /,
both for money and next Wednesday's settlement,
opened this morning at the same quotation, and
closed at 941, " buyers." For the Bth of August
the last price was 944 to 95. The Three per Cents.
Reduced and New Three per Cents. were quoted
at 3 o'clock 934 to 94. The official business report
is as follows :—Three per Cent. Consols, for money,
94:1, 1, I, ex div. ; ditto, for account, 94i,
ex div. ; Three per Cents. Reduced, 934, 4 ; New
Three per Cents., 94, 31, 4 ; Bank Stock, 255 ;
India Stock, 216, 218, ex div.; ditto Five per
Cent., 1101, 1, 10 ex div.; ditto Four per Cent.,
99 ; ditto Five per Cent. "enfaced" rupee paper,
103 ; ditto Five-and-a-Half per Cent., 108} ; ditto
Bonds, 63a., 625., 58a. prem.
The India Five per Cent, stock was in demand
in the morning, and was purchased as high as
110/, but a relapse afterwards took place, and tho
last sales recorded were at 110.

Foreign stocks were very inactive. and prices in
most cases unaltered. Italian of 1861 and Turkish
of 1865 rose per cent., while Spanish Passive and
Certificates declined I to I.
Bank shares were dealt in to a moderate
extent. London and Westminster were better, and