The Express.
London, England, 1867-05-24 00:00:00

ARRIVAL'S FROM MAY IS TO MAY 22.

'What , }WW Malt Oats. lacer.
qrs. I qrs. qrs. qn. sacks brls.
En lkb sad Scotch 170 70 300 .. 960 ..
!Ash
Foreign 15400 300 , 15300 1530 100
Total 175670.1—, 570 700 I-150 ;MO —l-00

MONEY MARKET.-(THIS DAY.)

013 o'Osaar.

The amount of business in the Stock Exchange
to-day is limited, and prices generally are quoted
the same v yesterday, in the absence at Epsom of
many of the principal dealers. Most of the markets,
however, are still characterised by firmness of tone,
and a few additional purchases would probably
cause an improvement in quotations. The returns
of the Banks of England and France are con-
sidered very satisfactory, and it is thought
that, with a large influx of gold, our
Bank rate may be reduced during the next
fortnight. The English funds are unaltered, and
the variations in home railways and foreign stocks
are few and unimportant. Peninsular and Oriental
Steam shares have fallen 51., viz., to 491. to 521.
upon the announcement that the usual ad interim
dividend will not be declared next month.

The demand for money is moderate, and the
supply large. The general charge for good bills
is 21 per oent., but. we hear of exceptional transac-
tions at 2g. Short loans on English Government
securities are offered in the Stock Exchange at 11
to 2 per cent.
Consols are now quoted 931 to 1, with div.,
for money, and 91g to I, ex div., for the ac-
count (June 6), and the Three per Cents. Reduced
and New Three per Cents., 911 to 4.
The Indian Five per Cent. stock is rather flatter,
at 1111 to 1121.
The foreign stock market is quiet, with very
ifew transactions. The speculative descriptions are
unchanged, with the exception of an advance of
/to per cent. in Spanish Passive and Certifi-
cates, and a decline of 1 in Italian of 1861.
Turkish Five per Cents. of 1866 are quoted 32/
to g ; ditto, 1862, !i6 to 57 ; Greek, 14/ to i ;
Spanish Passive, 22/ to 23; ditto Certificates, 14/
to 15 ; Italian of 1861, 51/ to ; Mexican, 17 to 1.
United States 5-20 Bonds and Illinois Central,
Railway shares have risen 1 to / per cent., viz., to
711 to 721, and 76 to respectively, but Erie are
lower, at 391 to 401.
Anglo-American and Atlantic Telegraph 8 per
cent. preference shares are without change ; the
former are quoted 178 to z, and the latter 41 to I.

Bank shares have been dealt in to a moderate
extent, at firm quotations. Alliance are in re-
quest, and 10s. better, at 9to 8 dis. Imperial Ot-
toman are quoted 1 to Of dia. ; and Union
of London, 40 to 41, being steady.
Financial and miscellaneous shares are steady.
International are quoted 2! to 11 dia. ; General
Credit, 21 to 1 dis. ; and London Financial, 22
to 21 des. Hudson's Bay 161 to I, and National
Discount 71 to prem.
A petition has been presented to the Master of
the Rolls, praying that the hearing of a previous
petition for the winding-up of the National Pro-
vincial Marine Insurance Company (Limited) may
be postponed ; and that in the meantime a meet-
ing of the shareholders may be held to consider
the propriety and mode of liquidation.
A general court of the Royal Exchange Assurance
Corporation will be held on the 19th of June, when
a dividend will be declared.

The annual meeting of the Guardian Fire and
Life Assurance Company is convened for the sth
of June, to declare a dividend fur the year ending
on the 24th of June next.

A meeting of the Park-gate Iron Company
(Limited) is called for the Slat of May, to sanction
the declaration of a dividend for the year ended
the 31st of March last.

The annual meeting of the African Steam-ship
Company will be held on the 7th of June.
The Caledonian Railway traffic return shows this
week a decreaae of 3811., compared with the cor-
responding period of 1866.

HALF-PANT THREZ o'CLocx.
Consols are steady, at 9fli to I, with div., for
money, and 911 to ,ex div., for the account.
About 86,000/. in gold has been sent into the
Bank.

Hopes are beginning to be entertained that the
investments of the financial companies in various
undertakings will soon experience sonic revival.
Consolidated Bank shares, which at the time of the
resuscitation were dealt in in large masses, are now
comparatively scarce in the market.
It appears from a communication, which has
been forwarded to us by Messrs. Baring Brothers
and Co., that the money now lying in the Bank of
England applicable to the Mexican dividends is
at List to be distributed.

At a meeting of the Venezuela 'Bondholders of
1864, held yesterday at the London Talen'', Sir
Henry Drummond Wolff in the chair, the fol-
lowing resolutions were carried unanimously :
• • • •

Resolved,—That this meeting, having considered the
conduct of the government of Venezuela in the following
particulars, viz.:-1. In appropriating to their own use,
from the 2nd of July, 1866, to the beginning of December,
1866, and again since the Ibth March, 1801, in appropriat-
ing, and dill continuing to appropriate the whole of the
export dutieswhich were entirely and solemly hypothecated
to the bondholders of the 1e64 loan ; 2 In the decrees of
30th November, 1866, whereby—first, the Venezuela
government reduced the export duties pledged as aforesaid
to the bondholders to about two-thirds of the rates, on the
faith of which rates, and of their entire estimated pro-
duce, the loan was obtained ; and second, whereby they
appropriated 2.7, per cent. of the so reduced duties to the
payment of a recentlyoontracted internal debt, is of
opinion that these acts constitute such a breach
of public faith and of the most solemn engagements astocall
for the immediate interference of the British government.
2. That it 19 expedient to constitute a committee to
watch over the interest of the 1864 bondholders, with
authority to urge their claims for active interference on
their behalf on the British government ; to demand from
the Venezuelan government the fulfilment of its engage-
ments to the holders of this loan, and generally, in concert
with the General Credit and Discount Company, to adopt
and carry ont such measures in the interest of the bond-
holders as may conduce to the obtaining full satisfaction
of their claims on the rid government. Provided always
that the said committee shall have no power whatever to
alter or modify in any respect the contract by which the
Venezuela government is bound to the 18et4 bondholders.
That the committee consist of the following gentlemen,
with power to add to their number, so that the whole
number does not exceed se veu, and to report from time to
time as occasion requires .—W. Meson, W. J. Little, E.
Jonas, Major Wood.
The meeting declined to accept the proposal of
the Venezuela government to send an agent to
Venezuela to treat with that government. A
unanimous vote of thanks to the chairman closed
the proceedings.
About 32,000:. in gold was bought by the Bank
yesterday.
Aclvices from New York mention the shipment
of a further sum of 100,0001. in gold for this
country, but it seems hardly likely that the influx
can continue long upon the present scale. It is
stated that some of the recent remittances have
been to provide for certain of the liabilities of
Meanie. Fraser, Trenholm, and Co. who lately
stopped payment, with uncovered liabilities esti-
mated
at upwards of 160,0001.
Advice, from Liverpool refer to the reported
suspension of a large firm in the Brazilian trade,
with very heavy liabilities.
The difficulties of Messrs. Robert Smith and'
Co. a respectable house in the China trade, of
Leadenhall-street, were currently referred to
yesterday. Their liabilities represented a a
amount some time ago, but have been graduallylr
reduced of late, and are now comparatively
moderate. The position of the firm has been ,
weak for months past owing chiefly, it is under-
stood, to heavy losses in tea.
The stoppage is also reported of three under-
writers at Lloyds, with liabilities for a considerable
amount in each case.
. . . .

It is notified that at the half-yearly meeting of
the Peninsular and Oriental Steam Company, to be

held early next month, the directors will not be in
a position to make the usual recommendation with
regard to an ad interim dividend, the amount of
which declared at that period has usually been 3i
per cent. for the half-year. The chief cause et
this unfavourable state of things is a falling otf in
the company's revenue through a decrease in the •
shipments of specie, as well as in the general move- 4
ment of silk and other important articles of com-
merce, consequent upon the prolonged crisis in the
„I
Eastern trade. At the same time, an increase in
coal freights outwards, and in other items, has
tended to enlarge the company's working expenses. 2
There can also be no doubt that the company's
interests have been prejudiced by the active com-
petition of the Measageries Imperiales Company, ,
which is subsidised to the extent of more than four
times the sum assigned to the Peninsular and
Oriental Company.
The Great Western Railway traffic return Arms
this week a decrease of 6,6084. compared with .;
the corresponding period of 1886 ; the Great
Northern a decrease of 1,732 i. • the Great Eastern 4,
a decrease of 4,1801. ; the Londe and South ;
Western a decrease of 11,2671. • the North Eastern
Eastern an increase of 1,2821. ; the Manchester,
Sheffield, and Lincolnshire a decrease of 6044. ; 1
the Lancashire and Yorkshire a decrease of 1,4781. ;
the North British an increase of 2131. • the Lon- f
don, Chatham, and Dover including ihe Metro- ,
politan Extension and branches, an increased 811; .
and the Metropolitan Extension a decrease of 2681. *,
The directors of the Grand Trunk Railway dCanada have issued a report in anticipation of the !!
adjourned meeting called for the 30th inst. It
describes certain terms recommended as a settle- •
ment of the claims of the postal and military bond-
holders, one of the advantages being that, if '
adopted, there will be placed at the company's dis-
posal 480,0001. of New Equipment Bonds, where-
with to purchase new rolling stock, and to provide '
for other objects. The plan, however, is not to be t.
proceeded with unless there be a general feeling_ in
its favour at the meeting on the 30th inert. The '
report itself will be found in another column.
Messrs. Young and J. H. Norman, the licpti-
deters of the Scinde, Punjaub, and Delhi Bank '
Corporation (Limited), have announced that a
second return of capital to the shareholders, via., 1
ten shillings per share, on which the sum of hi. ,
or 10/. has been paid, will be payable on Thum-
day, the 30th inst., and on any subsequent Thurs-
day.

The adjourned half-yearly meeting of the Per-
nambueo Railway Company bas been further
adjourned till the 26th of June.
Subjoined is Messrs. Culverwell, Brooks, and ‘.
Co.'s report of yesterday's bide sales :
At the ninth series of hide sales for the year, only •
moderate demand was experienced, without any change '
to note in prime. East India.—Ox and Cow.—Calcutta
were in limited request, at late Estes, both the home trade
and exporters operating but sparingly. Of 86,571 hides
offered, 61,166 were sold. East India.— Buffalo were in
fair demand, at Late ratea. Leather.—East Indian was in
moderate request. Australian mold fairly. Salted hides.—
Australian were in steady demand, and realised full prices.
Cape and Gibraltar sold well. West Indian in good de-
mand. Dry and Di-pelted Hides—South American were
only part sold. Mauritius brought fair prioes. Cape were
in good demand, as full rates. Singapore were all bought
in. Bark.—Mimosa was in limited request at a decline el
fully 10s. per ten.

The following is the official return of the cheques
and bills cleared at the hankers' clearing-house for
the week ending Wednesday last :—Thursday,
10,155,000!. ; Friday, 11,309,000!. ; liaturday,
11,685,000!. ; Monday, 7,580,0001. • Tuesday,
8,451,000/. ; Wednesday, 8,288,0001. ; total,
57,468,0001. In the previous week the total was
63,774,000/., there having been a settlement in
the Stock Exchange.
The weekly return of the Bank of Franca shows
the following changes

Coin and bullion
Bills discounted
Government deposits DOCrelalte 260,000
Notes in circulation
Private deposits
Advances
The decrease in the discounts still goes on,
while the stagnation of trade is further denoted by
the enormous accumulation of coin and bullion,
the total held being now no less than 32,759,00 d
sterling.
The return of the Bank of England for the week
ending Wednesday, May 22, compared with that for
the previous week, shows the following changes :

Ohmdation issue
£13,532,965 Increase £440,310
Circulation active 22,771,450 Decnmse 413,t51i
Public deposits 8,5144,864 Increase 1,050,652
Other deposits
Government securities in

banking department 12,886.314 No change.
Other securities in banking
department 19,12::,372 Decrease 1.16,184
Coin and bullion in botk

departments
Seven day and other bills 429,671 Decrease 29,:,31
The Rest 3 14$ 3e7 Increase 2,412

10,761,515 Inererse 853,1116

Notes in reserve
Total reserve (notes k coin)
in banking department.. 11,892,618 Increase 831,846
The changes are extraordinarily, favourable. The
absence of any important demand for money is
shown in the fact that, while more than a million
of government deposits was paid into the Bank
during the week, there was actually a decrease of
136,1841. in the advances on mercantile securities.
Thearnount of notes in circulation has consequently
been diminished tall* extent of 413,0651., and the
important addition of 831,8461. has been made to
the reserve. During the week the Bank received
in imported gold only 120,000 L , and, as the increase
in the coin and bullion above shown is 418,7911., a
strong reflux from the internal circulation is in-
dicated.

BANK OF
An Account varmint to the Act
weed ending on Wednesday,
Issei nap,
CA3,LU,9O

ENGLAND.
7th and nth Vie., e. 32. for the
, the ettal day of May, 1267.
PARTNIM
• Government dent E 11,015,100
Other vacuities— 3,ite4,Mo
Gold telli and Dui-
lion 12,f32,936
Silver bullion —

=.332.rk;.5

433,X'2.90,