The Express.
London, England, 1866-12-19 00:00:00

MONEY M

ARKET.-a.

Own o'Ox.uoi.
The Stock Markets show a better tendency
than at the close of business yesterday. Con-
sols are in demand, and have advanced 1 per
cent., owing partly to the anticipation that
about 450,0001, will be soon invested on so-
count of Overend, Gurney, and Co., under
the authority of the Vice-Chancellor, instead of
being retained in the Bank of England, where no
interest is allowed upon deposits. Some of the
English railway securities are likewise firmer, but
foreign bonds exhibit dulness. In the other
departments, prices in most cases are quoted the
same as yesterday, with few dealings.
The demand for money to-day is moderate, and
the supply large. The general charge for the best
paper is 31 to 4 per cent., but occasional transac-
tions are reported at 31.
Consols are now quoted 891 to 1, ex div., for
money, and 891 to t, ex div., for the account
(January 10).
The amount of business in foreign stocks is
limited. Spanish Certificates and Russian scrip
have declined 1 per cent., but Turkish of 1865,
Spanish Passive, Italian of 1861, and Mexican are
unchanged. Turkish Bonds of 1862 are quoted
63 to 59; ditto of 1865, 321 to 33; Greek, 13/
to 14; Spanish Passive, 20 to ; ditto Certificates,
131 to ; Italian of 1861, 55} to 56; Mexican, 181
to 1 ; and Russian scrip, t to 1 prem.
American securities and Atlantic Cable shares
present no variation. The present prices are as
follows :-5-20 Bonds, 711 to ; Erie Railway
shares, 471 to I ; Illinois Central, 77t to 781 ;
Anglo-American, 14 to t ; and Atlantic Tele-
graph 8 per Cent. Preference, 31 to 4.
International Financial shares are quoted 2/
to 21 dia. ; London Financial, 191 to 181 dia. ;
General Credit, 21 to 2 dia. ; Credit Fonder,
Est to 5/ dia. ; National Discount, 9} to I prem. ;
and Hudson's Bay, 161 to I.
A meeting of the bond and shareholders of the
Italian Irrigation Canal Company will be held on
Friday next, "to receive a report from W. F.
Splatt, Esq., now in Italy, on the pressing affairs
of the company."
As regards moat of the securities in the " miseel

laneous " list, a good deal of dulness is still observ-
able, although many of them are quoted at prices
far below the intrinsic merits of the various un-
dertakings, as described in the last official
statements. Thus the price of International
Financial shares, which is close upon 2} discount,
with 51. paid, shows an apparent loss of no less
than 375,0001. ; General Credit shares, at 2 dis-
count, show a loss of 500,0001. ; Anglo-Italian
Bank shares, at 9 discount, are rated at a loss of
180,000/. ; and Anglo-Egyptian Bank shares, like-
wise at 9 discount, represent a depreciation of
360,0001., the number of shares in this case being
40,000. Instances of depreciation to a like extent
might be multiplied almost indefinitely. The fact
appears to be that such of the public as have &taste
for enterprise of this character are already pos-
sessed of as many shares as they care to take
at present, and fresh investors are deterred through
the vague distrust that has been produced by the
recent revelations of joint-stock mismanagement.
It cannot be doubted, however, that in course of
time there will be a recovery from the excessive
and unwarranted depreciation in which many secu-
rities now stand that once were most eagerly sought
after.
The numbers are published of 152 bonds, repre-
senting 75,2001., of the Turkish Six per Cent.
Loan of 1858, which were drawn on the 17th inst.,
and are to be paid off at par (1001.) on the let of
March.
The Stock Exchange Committee have appointed
to-morrow a special settling day in the scrip of the
Russian Anglo-Dutch Five per Cent. Loan, which
is to be marked as scrip and fully paid up.
The following notice, relating to the Russian
Three per Cent. Loan of 1859, is posted in the
Stock Exchange :

Committee-room, Dec. 18,1866.
The following resolution was confirmed on the 17th
inst.:-" Resolved: From the correspondence between
Messrs. Baring Brothers and Co. and the Finance Minister
of Russia, it appears to the committee that the interpre-
tation put by the Russian government on clause 6 in the
bonds of the Three per Cent. Russian Loan of 1859,
relative to the application of the sinking fund for the re-
demption of such loan, has been, that the purchases
should be made at such times and to such extent as may
be found convenient by the Russian government. It ap-
pears further, from the same correspondence, that a por-
tion only of such sinking fund has up to this time been
applied, but that the obligation to continue such purchases
(for which a reserve is made in the annual budget) will
certainly be fulfilled by the Russian government The
committee take note of the explanation so given, although
in their opinion the obvious and generally accepted mean-
ing of the conditions of the Three per Cent. Loan is,
that the purchases for the sinking fund should be made
annually.-By order,
(Signed) FRANCIS LEvrEN, Sec. C.G.P.
The committee of the Stock Exchange have de-
cided to close that establishment on Monday next,
the 24th inst.
The Mexican dollars by the steamer Tasmanian
were sold yesterday for the Continent at 4s. 111 d.
per ounce, showing no change.
The City of Baltimore, from New York, has
brought about 3,0001. in specie.
On Change yesterday afternoon the rates for bills
on Holland and Frankfort were a trifle lower, but,
as regards the St. Petersburg and Austrian ex-
changes, the tendency was against those places.
The usual list is subjoined :
Amsterdam, 3 months, 11.181 to 11.191 ; ditto, short,
11.151 to 11.161 ; Rotterdam, 3 months, 11.19 to
Antwerp, 3 months, 25.40 to 25.45 ; Brussels, 3 months,
25.40 to 35.45 ; Hamburg and Altona, 3 months, 13.81 to
13.9 ; Berlin, Cologne, Ito., 3 months, 6.251
tot 261
;
St. Petersburg, 3 months, 304 to 304 ; Paris, short, 23.15
to 25.23 ; ditto, 3 months, 25.35 to 25.40 ; Marseilles,
3 months, 25.374 to 25.42) ; Frankfort-on-the-)faire,
3 months, 1191 to
13.50 ; Trieste, 3 months, 13A0 to 13.50 ; Madrid, 3
months, 471 to 471 • Santander, 3 months, 48 to 471; Cadiz,
3 month', 48 to 48p Seville, 3 months, 481 to 481; Malaga,
3 months, 481 to 4 ; Valencia, 3 months, moss to 48
4; Bar.
onions, 3 months, 481 to 48i ; Bilboa, 3 ths, 71 to
471 ; Saragossa, 3 months, 48 to 474 ; Leghorn, 3
months, 27.20 to 27.30 ; Genoa, 3 months, 27.20 to
27.30 ; Naples, 3 months, 27.20 to 27.30 ; Palermo, 3
months, 27.20 to 27.30 ; Messina, 3 months, 27.20 to
27.30 ; Lisbon, 90 days' date, 511 to 514; Oporto, 90 days'
date, 514 to 514.
The Crown agents for the colonies notify that
they will receive tenders until Satur aynext for
the sum of 250,000 rupees (25,0000 in bills on
Ceylon.
In the matter of Overend, Gurney, and Co., an
application was yesterday made by Mr. Cole, on be-1
half of some of the creditors, to Vice-Chancellor
Malin, to order a dividend of ss. in the pound to
be forthwith distributed. The Attorney-General,
who appeared on behalf of the Defence Associt
ation,
objected to so large a payment, intimating tha his]
clients, who held 21,000 shares, would, if success-
ful in their pending motions to remove their
names from the list of contributories, require a re- I
turn of 101. per share, and also at least a rateable
dividend with other creditors upon the
154. per
share which they originally subscribed. His onour
ordered that, for the purpose of meeting this con-
tingent liability, a sum of about 400,0001. should
be reserved, and as after this there would
still remain a balance of 800,0001., he directed
that the creditors should at once receive a pay-
ment at the rate of 4s. in the poun. It was
reported to the court by Mr. Swanston, that the
cross-examination of the directors had already
occupied 14 days, and that, as considerable delay
had occurred, owing to the difficulty counsel had
experienced in eliciting explanations from Mr.
Birkbeck, one of the late managers, it was arranged
that this gentleman's examination should be
finished in court, but with regard to Mr. John
Henry Gurney, the inquiry will proceed before the