The Express.
London, England, 1867-05-31 00:00:00

by reason of the distrust which lust grown up re-
specting the position of mercantile houses on that
side since the failure of Messrs. Watts, Crane, and
and Fraser, Trenholm and Co.
Co.,he following is the official return of the cheques
and bills cleared at the Bankers' Clearing-house
for the week ending Wednesday, May 22. The total
is 52,071,0001. In the previous week it was
57,468,0091. so that the inference is adverse to any
idea that trade is reviving : Thursday, 7,986,0001.;
Friday, 9,112,0001.; Saturday, 9,653,0001.; Mon-
day, 8,293,000/. ; Tuesday, 9,348,000/. ; Wednes-
day, 7,679,000/. Total, 52,071,0001.
The meeting of the Midland Railway Company,
held at Derby on Wednesday was shorn of some por-
tion of its interest through'an intimation from the
chairman that the much-canvassed bill for amalga-
mation with the Glasgow and South Western Com-
pany was not ready, the result being that se ad-
journment was necessary. The beneficial results
of the anti-extension agitation promoted amongst
the proprietors are shown, however, in the fact
that additional outlays of capital contemplated in
three bills brought before the meeting were aban-
doned by the board. The meeting was adjourned
till Tuesday next.

The Great Western Railway traffic return shows
this week a decrease of 4,1001. compared with the
corresponding period of 1866 (Whit-week); the
Great Northern an increase of 2,7851. ; the London
and South Western an increase of 2,8611.; the Great
Eastern a decrease of 6,0631. ; the Lancashire
and Yorkshire a decrease of 18,1321. ; the North
Eastern an increase of 2111. ; the Manchester,
Sheffield, and Lintolnshire a decrease of 6,6711.
the North British an increase of 1,4011. ; the Lon-
don, Chatham, and Dover, including the Metro-
politan Extensionfand branches, a decrease 0f9871.;
and the Metropolitan Extension, separately, a de-
crease of 5371.

- -
The directors of the Peninsular and Oriental
Steam Navigation Company have issued their
report, in anticipation of the half-yearly meet-
ing called for the sth June. It has already
been mentioned • that the interim dividend
usual at this period cannot be declared, and the
directors now state that the "accounts to the 31st
March exhibit an excess of expenditure over re-
ceipts to the extent of 36,000/., without making
any provision for insurance or depreciation." The
causes of the falling off in the company's revenue
have already been referred to. The directors con-
clude by intimating in plain terms that, if the
company are to continue bound to the present
onerous and costly conditions of a mail service con-
tract, now that they are exposed to the competi-
tion of a foreign company, subsidised far more
highly than their own, they must look to our go-
vernment for a " very material addition to the
subsidy ;" and, considering that the postal ser-
vices with the East are connected with a commerce
now representing about 110,000,0001. annually,
the directors say that they "cannot but feel con-
fident that an enlightened consideration of the
whole question will be taken by the government."
The following is the report of the directors of the
Bank of British North America, to be presented at
the annual meeting on the 4th June :
The court of directors have the satisfaction of sub-
mitting to the proprietors the annexed statements of
accounts, and of congratulating them on the continued
prosperity of the bank therein exhibited. This will be
further seen by a comparison of the net profit of the bank
for the last four years. Thus, in 1863, the amount
of net profit was 61,4131. 14s. 7d.
_• in 1814,
72,5691. 16a. 3d. ;in 1865, 77,8771. 13a. 3d.: in 1866,
78,802 f. Le. 4d. ; and this result has been obtained
after making liberal provision for all probable losses.
The court of directors under these circumstances
feel warranted in making a further increase in the dis-
tribution to the Proprietors, and they have ac-
cordingly declared, in addition to the usual half-yearly
dividend at the rate of 6 per cent. per annum, a bonus of
11 per cent. This will leave the sum of 3,102/. sa. 4d. to
be carried to the rest, which, including that addition,
amounted on 31st December, 1866, as per annexed state-
ment, to 149,V3/. 10s. 81, or, deducting the bonus now
declared, say 15,0001., to 134,2731. 10a. Bd. Warrants for
the amount of the dividend and bonus, together 455. per
share, free of income tax, will be forwarded as usual on
the sth July next. The directors have the pleasure to
add, that the accounts received from the branches up to
this date compare favourably with those of last year at
the same period.

The Bombay, Baroda, and Central India Railway
Company notify the proposed issue of the balance
of their share capital, in 201. shares, bearing 5 per
cent. guaranteed interest.
The return of the Bank of England for the week
ending Wednesday, May 29, compared with that for
the previous week, shows the following changes :
Circulation lute £:34,227,7rA Increase E 754,800
Circulation active 22,9'"1,170 Increase 157,720
?Odic deposits 8,843,011 Increase 2;8,147
Other deposits
Oovernment securities is

banking dement 12,886,314 No change.
Other socarit in banking
departmentbulli 18,883,405 petIRAN 238,917
Coin and on in both

departments --
20,417,283 Increase 753,215
Seven day and other bills 432.486 Increase 2,915
The Rest 3,119,932 Decrease 28,415

Notes in reterve
Total reserve (notes k soda)
in banking department 12,458.113 Increase 595,495
The fresh increase of three-quarters of a million in
the coin and bullion, and of nearly 600,0001.
in the reserve, fully explains the reduction in the
rate of discount made to-day. Of the coin and
bullion nearly 200,0001. must have been received
from the internal circulation. The Bank's dis-
count business has continued to decline at its
minimum rate of 3 per cent.

BANK OF .
An Account pursuant to the Act
week ending on Wednesday.

ENGLAND.
7th and Bth Ile e for the
the rith day of May, 11167.
,ARTNENT.
• Government debt 111,018,100
lOther aecuritree aottit3loo
Gold coin and bul-
lion 13,567,705
Slyer bullion

Ism= Dii4
Nato. bawd £34,257,765 i

L34.2naa

£34.W.765

ssitatio LI
5:4,
Res Proprietors' Capital Xl4
~000
t
Public Deposits (lo-
chiding Etch N.,
13sv. Banks, COO -
=is. of Nations&
Debt. tad Div. _
-

PARTNER.
Government IWO-
rities
Other securities
Notes
Gold and Wirer
Cola

reexiniT 8.843,011
Other Deposits
&y ea da) sod other
Bilis

Z14,237,4=

1,119.618

MAT Sa. 18C7.

L 44.457.83,1
F. MAY. Depaty Cashier.

TNt*RWAY ECIMING.

Consols, which closed yesterday at 92A to ft
ea div., for the kith of June, opened this morning
at 92:: to 1, and closed at 931 to 1. For money
the last price was 94l to 3, with dir. The official
business report is as follows:—Three per Cent.
Consols, for money, 941, 1,3, 3,3, 3, with
div. ; ditto, for account, 921, 4, ex div. ; Three
per Center. Reduced, 921, 1,3, : New Three
per Cents., 921, 3, # ; ditto, Two-and-a-Half
per Cent., 76, 3 ; Red Sea Telegraph, 191; Hank
Stock, 251, 3 ; India Stock, 220, 21; ditto Fire
per Cent. 1111,4, 12 ; ditto Four per Cent., 97
ex. dir.; ditto, re per Cent. " enfaced" rupee
paper, 103 ; ditto Bonds, 60s. prom.
The India Fire per Cent. stock was firm.
Exchequer Bills were quoted 22a. to 275. prem.
It will be seen by the subjoined notification,
which was posted to-day in the Stock Exchange,
that the rate of interest on East India Bonds is
to be reduced from 5 to 4 per cent. per annum :
" The Secretary of State for India in Council
hereby gives notice that the present rate of inte-
rest on East India Bonds, viz., five pounds (51.)
per cent, per annum, will cease and determine on
the 31st May, 1868, and that from and after that
date such bonds will carry interest at the rata of
four pounds (4/.) per cent. per annum.—(Signed)
J•ler.s Feßoussox.—May 30, 1867."

COAL MARKET.—(THIS DAY.)
Walls End Hetton, 19s. ; Walls End Haswell, Is. ;
Walls End Tees, Ms. 9d.; Walls End Original Hart.lopooi,
19n.; Wall.. End Cassop, lns. 3d. ; Walla End Godorik•
17n.; Walls End Tunstall, 17s ; Wall End Hartoa, 170.;
Walls En.l Hetton Lyons, 17s. ; 16s. 9d.
Wylam. 16s. ; West Hartley, M. 6d. ; Hastings Hart-
;
ley, ISs. 6d.—Ships at market, 23 ; at sea. GO.

It appears front a parliamentary return issued
this lay that the expenses of the Totots. peigato. Great
Yarmouth, and Ltncaster petitioar, liatt2llllteil in lin
to 1 I