The Express.
London, England, 1867-08-02 00:00:00

THE EXPRESS, FRIDAY EVENING, AUGUST 2, 1867.

Stition, said that on the 11th inst, the prisoner called
upon him about a situation as fireman. Witness gave
him a form to fill up and told him to bring testimonials.
The prisoner told him he had been some years in the Fire
Brigade, which be left with a good character. He also
said he bad been discharged from the royal navy. On the
following day he brought a certificate, signed J. Saunders,
chief engineer Metropolitan Fire Brigade. Witness asked
him 'how it was that Captain Shaw had not signed it.
He replied that that gentleman was out of town. Wit.
new told him to call again, but he did not, and as the
certificate turned out to be a forgery, he applied for the
warrant for his apprehension.
Captain Shaw aid he knew the prisoner as having been
formerly in the Fire Brigade from June, 1863, until the
15th of January last, when he was discharged for con-
tinual misconduct. There is no such person as J. Saun-
ders in the brigade.
In answer to the charge, the prisoner said be *maid not
obtain any employ, and being in great poverty he was
tempted to do it. He was extremely sorry.
The Magistrate said it was a very bad case indeed, and
committed with much ingenuity. He must pay a fine of
20/., or go to prison three months with hard labour.

MONEY MAREBT.-(THIS DAY.)

Om o'Osocii.

The stock markets are rather firmer to-day,
although the amount of business generally is still
very moderate. The dulness of the weather and
the somewhat unsettled state of political affairs
abroad are regarded as unfavourable features, but
some of the speculators for lower prices have made
purchases to close their accounts, previous to
leaving the City for the holidays. The English
funds have improved about if per cent.,
both for money and the account. As re-
gards home railways, the chief advance is in
Lancashire and Yorkshire Stock. Foreign bonds,
with one or two exceptions, are unaltered, and
banking, financial, and miscellaneous shares are
inanimate.

Messrs. Baring Brothers and Co. have just
issued the prospectus of the new Russian Four per
Cent. Loan for 12,000,0001. sterling, in 201. bonds.
Applications will also be received by Messrs. Hope
and Co., of Amsterdam; Hottinguer and Co., of
Paris ; and the Comptoir d'Escompte. U. is pay-
able on, application, and 11. 4s. on allotment, and
the final instalment is due in March next. The list
will be open on the 7th inst. and two following
days.

The discount market is very quiet, and the
supply of money is still considerably in excess of
the current requirements. The charge for choice
bills is 11 per cent., with exceptional transactions
at 11.
Consols are now quoted at 94 1-16 to 3-16 both
for money and the account, and the Three per
Cents. Reduced and New Three per Cents., 94
to 1.
The railway market is rather firmer to-day, and
an improvement has occurred in several cases.
Lancashire and Yorkshire stock has advanced 1 per
cent. ; Great Eastern, 1 ; North British, 1 ; and
Great Western, Midland, and Brighton (new), 1.
On the other hand, Brighton (old) has declined 1,
and Metropolitan 1. London and North Western
stock: is quoted 1091 to ; Great Western%
41 to ; Midland, 114 to ; Lancashire and
Ybrkshire, 1261 to 127 ; Great Northern,
1111 to 112}; ditto A, 1091 to 110}; Great
Eastern, 261 to d ; South Eastern, 621 to 63 ; Cale-
donian, 108 to 109 ; North British, 291 to 1 ;
Metropolitan, 119# to # ; London, Chatham, and
Dover, 14 to / ; and London, Brighton, and
South Coast, 481 to 49 ; ditto New, 1 to 21 prem.
Turkish Bonds of 1862 have improved 1. per
cent., viz., to 56 to 57, while Spanish Passive have
declined 1, the present price being 211 to 1. The
other speculative foreign stocks are quoted the
same as yesterday, as follows :--Turkish, 1865,
30 to ; Greek, 13 to ; Spanish Certificates,
161 to 1 ; Italian, 1861, 481 to 49 ; and Mexican,
14 to 1.
The shares of the financial companies are with-
out variation. Subjoined are the present prices :
International Financial, 21 to 1 dia. ; London
Financial, 24 to 23 dia. ; General Credit, 21 to
dia. ; and Credit Fonder, 51 to dis.

American securities and-Atlantic cable shares
show no movement. The quotations are an-
nexed. The 5-20 Bonds, 721 to I. Erie
Railway shares, 48} to 49 ; Illinois Central,
761 to 771- ; Anglo-American Telegraph, 18 to ;
and Atlantic Telegraph Eight per Cent. Preference,
31 to a-
At Paris this morning the Three per Cent. Renter
opened at 69fr. 10c., showing no alteration.
An extraordinary meeting of the National Steam
Navigation Company will be held on the 15th inst.,
at Liverpool, to confirm the resolution recently
passed for the winding up of the undertaking
voluntarily, and the formation of a new concern.
The sixth ordinary general meeting of the
Natal Land and Colonization Company (Limited)
is called for the 16th inst., when a dividend
will be declared. An extraordinary meeting will
also be held on the 15th for the purpoae of au-
thorising the directors to borrow a scam of money
not exceeding 250,0001.
The ordinary half-yearly meeting of the North
London Railway Company is convened for the 21st
inst.

It has already been announced that a sum of
551,0421. has to be invested this quarter in re-
duction of the national debt, being about one-
third more than was applicable to this purpose
last quarter, but it seems to be expected that
another fortnight, or thereabouts, will yet elapse

before these purchases will commence. The chief
feature yesterday was a rise in Lancashire and
_ _

Yorkshire stock, upon the

it of

a dividend at the rate of 6} per cent. per
annum. There is a growing feeling, however,
that railway dividends, regarded merely by them-
selves, afford no criterion of the real position
of the oompanies, or of the intrinsic value of the
property. In determining these points, the state
of the capital accounts and of the floating lia-
bilities forms an essential consideration. At
the coming meetings shareholders should demand

to know, and have a right to know, how
much has been added to capital ; what are the
precise engagements of the company ; and on what
terms they are borrowing money. The day for
reticence on the part of railway boards has gone
by, for shareholders, having lost confidence in
them, will no longer allow concealment. For
twenty years increase of traffic has been urged es
a plea for keeping capital accounts open, but the
time has come when this pretext has lost its
weight, by reason of the general conviction that a
line must be drawn in limitation of capital, and that
railways must be worked upon their existing basis.
There can be no question that the keeping open of
capital accounts has hitherto directly encouraged a
system of improvident extensions which, while
highly profitable to contractors, lawyers, and engi-
neers, has been absolutely ruinous to shareholders.
70,0001. in bar gold was sent yesterday into the
Bank of England.
In the Rolls Court yesterday, Mr. Church, the
chief clerk, advised, in the matter of the Contract
Corporation (Limited), that, as the long vacation
is commencing, the official liquidator should pay a
dividend on the debts admitted, while the other
claims can stand over.

The dividend on Lancashire and Yorkshire Rail-
way Stock is officially announced at the rate of 64
per cent. per annum, against 61 for the correspond-
ing period of 1866, and that on North Staffordshire
Railway Stock at the rate of 3 per cent. per
annum, against 4 for the corresponding period of
last year. The former stock rose 4 per cent, upon
this announcement, while the latter remains dull.
The Lancashire and Yorkshire Railway traffic
return shows this week an increase of 2,0851. over
last year ; the Great Western, a decrease of 2,049/. ;
the North Eastern, an increase of 3,3541. ; the
Manchester, Sheffield, and Lincolnshire, an in-
crease of ,2381. ; the London, Chatham, and
Dover, including the Metropolitan Extension and
branches an increase of 1,2331. ' • and the Metro-
politan Extension, a decrease of 1671.
The half-yearly general meeting of the share-
holders of the City Discount Company (Limited)
was held yesterday at the London Tavern, when the
directors recommended that, out of the balance of

4,8b91. lla. Bd. the sum of 560/. be written off pre-
liminary expenses ; that a dividend of 10 per cent.
per annum, free of income tax, be declared ; and

that the balance, amounting to 1,496/., be carried
forward to the next account. The report was
unanimously adopted.
At the English and Australian Copper Company's
meeting yesterday, an ad interim dividend of Is. per
share (after paying interest at the rate of 5 per cent.
to the reserve fund) was declared.
At the half-yearly meeting of the Mid-Kent
Railway Company, held on the Slst July, a divi-
dend at the rate of 4 per cent. per annum, less in-
come tax, was declared.
A general meeting of the Grosvenor and West
End Railway Terminus Hotel Company (Limited)
is convened for the 14th inst., when a dividend is
to be declared.

A general meeting of the Irrigation Company of
France (Limited) is called for the Bth inst.
It is announced that holders of overdue bonds
and coupons of the State of Alabama may now have
them funded into new bonds upon the terms agreed
to at the meeting in October, 1888.
With reference to the transfer books, the follow-
ing notice has been issued from the Bank of Eng-
land:

Bank of England, August I.—Notice is hereby given
that in order to prepare the dividends due on the 10th
October, 1867, the balances of the several accounts in the
following funds will be struck on the night of Monday, the
2nd September, 1867, via.:—New 31. per cent. Annuities,
Reduced 31. per cent. Annuities,Annuites for Thirty Years,
Annuities for terms of years, India 4/. per cent. Stock. On
Tuesday, the 3rd September, the above named funds will
be transferable without the dividend due on the 10th
October next. Bank Stock.—Shut, Wednesday, 11th
September; open, Friday. 11th October.
. . ._ _

Subjoined is Messrs. Culverwell, Brooks, and
Co.'s report of yesterday's hide sales :

At the fourteenth aeries of hide sales for the year a good
demand was experienced at, in some cases, advanced
prices. East India.—Ox and Cow.—Calcutta.—There was
an active demand for all qualities, and although the prices
realised for the respective descriptions were irregular,
still, upon the whole, the market was firm to, upon some
parcels, an advance of ad. to IA per lb. ; heavy averages
were also dearer. Exporters were the chief buyen.
Ores sold fairly—of 121,894 hides offered, 114,500 were
sold. East India.—Buffalo.—For the portion sold late
rates were obtained. Leather.—East Indian was in good
request ; Australian sold well. Belted Bides.—Anatra-
lian.—The few (463) offered were well competed for, and
realised full rates ; Cape were in good request at improved
prices; Gibraltar sold fairly. Dry Hides—Cape were in
good request, and brought advanced rates ; also Penang
and Mauritius. West India realised fair prices ; Mogadore
sold well. Bark.—Mimosa we. dull of sale, and nearly all
taken in.

The following is the official return of the cheques
and bills cleared at the Bankers' Clearing-house for
the week ending Wednesday, July 31. Deducting
from the amount on Wednesday seven or eight
millions as representing the exceptional movement
arsing from the settlement inwshares and foreign
stocks, the total is even below the reduced average
that has lately prevailed. Indeed, it is believed
that the bill and cheque circulation of the country
is at this moment only about ore half what it was
during the active period early last year.
Return of paid clearing for the week ending
Mat July.

28,278,000
9,168,000
9,787,000
8,385,000
9,034,000
18,033,000
Total 060,885,000
JOHN C. Pocock, Deputy Inspector.
Bankers' Clearing House, duvet 1.
The weekly return of the Bank d France ahowe
the following changes :
Coin and bdlioa
Bills discounted lessesee 266,600
Notes in circularise'
Private deposits Decrease 93,300
Advances Decrease 8,000

Thursday, 25th
Friday, 2Mh
Saturday, 27th
Monday, 291 h
Tuesday, 30th
Wednesday, 3111

Government deposits. Demean 32,000
The further increase of 272,0001. in the coin and
bullion brings the total up to 35,417,000!. The
increase in the discount is not of much importance,
but notes have been more wanted for the purposes
of circulation.

The return of the Bank of England for the week
ending Wednesday, July 31, compared with that for
the previous week, shows the following changes :
Circulation bane £36,725,265 Increase £167,370
Circulation active 24,182,960 Increase 180,245
Public deposits 4,898,151 In.:nese* 200,904
Other deposits
Government securities in

banking department 12,01,773 No change.
Other neuritic* In banking
deportment 17,322,457 Increase 73,968
Coin and bullion in both
__ _

department•
Seven day and other bills 490,179 Increase 29,077
The Red
3,361,576 Increase 327

Notes in reserve
Total reserve (notes & coin)
in banking department 13,743,493 Demeans 25,666
Both as regards the bank's deposit and dis-
count business, the variations here presented
are of little importance, and the result is that the
reserve is almost stationary. Of the 154,5891.
added to the bank's stock of the precious metals,
the bulk must consist of coin received from the
provinces, for the amount sent in from abroad was
only about 35,0001.

BANY OF 1
An Account pursuant to the Act
week ending on Wednesday,
man DNA
Notes tuned ...... 136,725,246 1

ENOLLND.
i 7th and Bth Vie., C. 112. Tor th•
the 91st day et July, 1887.
PAILTXM.
0 Government debt tmen,too
Other eeewitke 1.,9114,1011
Odd coin and bd
lion mn0,946
Silver bellies —

M 6.725,406
smiling Di
= Aare Capita £14.563.000
1,361,576
Public Deposits (In-
chiding licksq.,
Bay. Banks, Cott
m 5. ot ItsUocial

£36,725,286

Puy.

707..:r.T.EWeint sielp

rWa ritesoms
Other Securttlas 17,312.4117
Notes
12.64306
Odd sad Biker

Cola - - ...... - 1,101,11111

- 1547
Debk an 4am151
Acoacintal ,
t 10,683,817
Other DeWai,' • • • -
admen day sad other
00.179

£43,886,728
August 1, 1867.

_4145,M0.7t3

T. MAY, Deputy—Fadliar':

THURSDAY EVICYCHI.
Consols, which closed yesterday at 344 to 4 for
the Bth inst., opened and closed to-day at 94 to 4,
though at one time quoted 934 to 94. For money
the last price was 934 to 944. The official business
report is as follows :—Three per Cent. Consols,
for money, 94, 4, 31 ; ditto, for account, 94 ;
Three per Cents. Reduced, 934, } 4; New
Three per Cents., 931, 1,4, 4, 4 ; Bank Stock,
260 ; India Stuck, 2181 ; ditto Five per Cent.,
1114, 4; ditto Four per Cent., 994 ; ditto Five
per Cent. "enfaced" rupee pa r, 1024, ; ditto
Five per Cent. Debentures, 105 .
The India Five per Cent. Stoc remains firm.
Foreign stocks were dull, and, where any change
occurred in prices, it was in a downward direction.
Russian stocks were heavy, and in most cases fell
4 to 1 per cent., owing to the rumours of a coming
loan. Sardinian Bonds, as well as Turkish Six per
Cents. of 1854 and 1863, declined 1 per cent., and
Turkish Five per Cents. and Spanish Passive 4.
There was a demand, on investment account, for
the smaller classes of bonds of some of the Egyptian
loans•
Few changes occurred in Bank shares. Anglo-
Austrian Bank was again firmer, dosing at 24 to
24 prem.
There was no change in the shares of the finan-
cial companies. Prices dosed as follows :
International Financial, 24 to 4 din., ex div. ; Ge-
neral Credit, 2/ to 24 dia. ; London Financial, 2E
to 23 din. ; and Credit Foncier, 54 to 54 dia.
Anglo-American Telegraph shares left off at 18 to
4, being dull; Atlantic Telegraph Eight per Cent.
Preference at 34 to ft ; and Telegraph Construction
at 21 to 2 die., being firmer.
Hudson's Bay shares closed at 144 to 4, and
National Discount at 6to 64 prem. ex div. Mis-
cellaneous shares remain generally heavy, in the
absence of demand. Lower prices were quoted for
Ceylon, Anglo Mexican Mint, Berlin Waterworks I
new, African Merchants, English and Scottish
Marine, Indian Carrying, London and County I
Land, Madras Irrigation, New Zealand Trust and
Loan, Peninsular and Oriental Steam, Universal
Marine Insurance, and Italian Irrigation shares
and bonds. The shares of the last-mentioned
'undertaking have fallen to 21. to 31. (201. paid).
The shares of the Canada Company, however,
well as City Discount and Commercial Unionaa
Assurance met with inquiry.