The Express.
London, England, 1866-08-08 00:00:00

WEDNESDAY EVENING, AUGUST 8, 1866.

MARE LISTS.--(THIS DAY.)

Oirs o'OLoox.

The railway market is extremely inactive to-day,
and quotations generally exhibit no change, com-
pared with those last current yesterday. The ten-
dency is still unfavourable, consequent upon the
diminished dividends just announced by some of
the principal companies.
London and North-Western stock is quoted
116} to ( ; Great Western, 52 to ; Mid-
land, 120 to ; Lancashire and 'Yorkshire,
1231 to ; Caledonian, 121 to 123 ; South
Eastern 661 to ; Great Eastern, 291 to ;
Great Northern, 118 to 120 ; ditto A, 123} to
124 ; Metropolitan, 1291 to 1 ; and London,
Chatham, and Dover, 191 to 1.
A moderate amount of business has been trans-
acted in foreign and colonial railway shares, at
iprevious prices.

-iti.Tii

fAri ss

100.000 10
600,000100
13.
10,000 60
00)1100

10.0001266,000 100
20,0001 IS
6,000. 20

Kooio 60
ss,oool so
It.°3?ib3°

1:40,1
HMO 10600
1!1, 1!00

Reno
101.
17_,___ le6og

10,1,iiiiiii
000 5
WOW 150
10,401140
WOO 10
40,000 60 i
67,600 WI
00.000' 10,
50,000 90
00,000 so 1
ssooo so
26, 201
21,000 20
17,2111 60
03,000 100
17,500 /0
12, 10
10 15
17,061 WO
10,000 100
60, 16
10,000 100
moool as

-7
—6
Lig!
6 lidls
1 *Ls
11 9 dls
11 9d4
4 .41

in ei

ii 10

28 30 id
dim
6 3 Ws
17 13 Ws
Se •1

IFS vi
SO IA dig
415
14.115
11
45 47

14 14 '
33 If
16 11 id
60 61

i 1 Pal
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i 1 ea
4 2di
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15 12 db
111 15 id
lf U Os
14 11 Ms
3 4

S -11 pos- xd
SI 1111 s
U 11

$ 1 dls'
1 Gidis
SI SS _

7 1 Ms
le A dis
I les
T IP pm
lt
El 1p
131 d 3

116 SS

ii ii

par'
Idl lsons 211'
42 44
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118; 19 114
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16}10
118 le
zd

41 I'

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lff

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44
4211 zd

01 id

43

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6 5 die
78 80

£50,0001
100.000

91 971
90 II za

ad

tAii;Eicel
096,802
200,000

*6OO
10%000
150,000
1.00%000
10%000
10%000
100,000
100,000
100,600
101.000

lie,-6001
Looo,cool
aso,oool
vso,oooi

35,000 2
100,006 1
20,000 20
10,00 u 6
15,000 10
25,000 2
30,000 6
12,000 40
10,000' 20
100,000 1
25,000 3
25,000 2
60,000
10,000! 30
013,0001 If
15,060
10,0001 6
102,84 1
60, 4
10, 10
100,000 5
" I 1
120,000, 1
11,000 JO
43,174' 30
30,000 2
60,000; 1
10,000, 10
0,000 10
20,000' 6
30,000! 1
75,000 1
46,000: I

.No—ledl

STOCKS.

75 7T
75 VT
00 101
10! 104
102 1116
100 105
06 IS
151 106
104 1011

100 191
101 109
101 1/9
103 106
96 99
90 92

*0 92
82 86
92 94
72 76
94 98
86 87

101 10i

101 10i

...
1011

rn_

865

101T11

I CI. prism. I ISalec

92,080 Bt. Ot.Eatn 4 p.e. Mar.&Beiloo
4088316 Bt. o.Ntkin.4 p.e. Jan.&J 100'
610,000 Bt. G.Witn.--W. I
p. ct., Jan. & July
618,000 81. Lanc.&YlE.4p.c.JanAJly 100
630,000 84 leu.Beigh.4p.e.Jan.&lly 100
10062116 84. &N.W.4p.e.lan.& July 100
312.880 81. Do. %p.c. Jan.& July 100
260,730 BR L&S.W.4p.e. Jan .& July 100
84. laildband,4p.e.Jan.&July 100
St. N. BAtlah L. P. & D. 8.,
6 p. Cl., Feb. & Aug. 100
84. N.Baten.,4p.c.Jan.&July 100
84 800t.N.Z.,4p.e.Ap.&De4 100

83,431

ii. 3681
I

Psr
1

i i_

Par
Ms..
-1
tl
al
19 21 id
I idls
1_ 2. I

iidis!

idis pit'
0. 8_
.!

.6- .8-
'Lit
till Par.
bra.
11

(3. prior.

78 SS
02 Si

9898
9! 96
88 OS
911 96

9695
9695

92 IPA

FOREIGN RAILWAYS.
Great Luxembourg, I3A.
South Austrian and Lombardo-Venetian, Isi I.

MONEY MARKET.-(THIS DAY.)

Oink o'OLocra.

On the Stock Exchange to-day attention is
chiefly directed to the monthly settlement in the
funds, which will be completed to-morrow, and
very little other business is going forward.
The tone of the various departments is still
flat. Consols and British railway stocks are with
out variation, but foreign securities have declined,
the chief reduction being in Turkish of 1862 and
Italian of 1861. Banking, financial, and misoal-
laneous shares show a drooping tendency.
The inquiry for discounts continues rather active,
and the general rate for three months' paper is
fully 9 per cent. A large amount of Indian bills
arrive at maturity on Friday.

Consols are now quoted 87f to 1, both for
money and to-morrow's settlement, and 88 3-16 to
5-16 for the new account (September).
The transactions in foreign stocks consist mostly
of sales, and prices have receded. Turkish Bonds
of 1862 and Italian of 1861 have declined 1 per
cent. ; Turkish of 1866, 1 ; Spanish Pas-
sive, 1 ; . and the Committee's Certifi-
cates, and Mexican, 1. Turkish Bonds of 1862
are quoted 48 to 50 ; ditto of 1865, 261 to 27 ;
Greek, 11 to 1; Spanish Passive, 19 to 1; ditto
Certificates, 14 to 1; Italian of 1861, 501 to 511 ;
Brazilian scrip, 41 to 31 dis. ; and Mexican,
117 to 1.

United States 5-20 Bonds are quoted 64 to I,
being ill per cent. lower; Erie Railway shares, 401
to 411, showing a decline of i ; and Illinois Cen-
tral, 75 to i.

Anglo-American Telegraph shares have expe_
rienced a fresh fall of 10s., the present prioe being
12 to f. Atlantic Telegraph are also 2s. 6d. worse,
st 3 to f.

International Financial shares are quoted to
If dia. ; London Financial, 12} to 12 dia. ;
General Credit, 2to If dia. ; Credit Fonder,
3f to f die. ; and National Discount, 7 to
prem., ex div.

To judge by the reply given on Monday night by
the Chancellor of the Exchequer to Alderman Salo_
mons, the commercial world will have little to con_
gratulate themselves upon in the change of minis-
try. Mr. Disraeli seems to have overlooked, or
was perhaps unaware of, the fact that his ques-
tioner was the chairman of the London and West-
minster Bank, and therefore one of those
"persons of great authority in the City of
London" to whose representations he pro-
mised a patient and candid attention."
This is the usual official way of getting out of a
difficulty, but it is an unworthy course for anyone
who pretends to be a legislator to pursue. It
seems almost incredible that a question literally
involving the commercial prosperity of the country
that of all others owes most to commerce should
be thus quietly shelved without even a decent show
of inquiry. Is it not possible for our public men to
learn for themselves the actual state of things in the
money market, and thus to find out whether the
severity of the existing crisis has been exaggerated
or not I Apparently our Chancellors of the Exche-
quer past and present are indebted for what little
information they possess to one or two individuals
obstinately pledged to a course of action which has
already worked an enormous amount of evil, and is
certain to do a great deal more. One fact is very
evident, that if the ministry shirk taking
any responsibility now, they must before long
have to deal with a state of affairs in which the
responsibility will be magnified tenfold. Already
there are ominous reports afloat of impending com-
mercial disasters, arising solely from the pressure
in the money market, which may prove as injurious
as those of last spring. There can be no two opi-
nions of the necessity of dealing with this question
in tune, and if a government choose from timidity
or lukewarmness to do nothing, they may reckon
upon having their shortcomings most severely visited
upon them at no distant period.
It is a significant proof of the general feeling in
the money market that a report was current yester-
day afternoon of a temporary loan of two millions in
gold from the Bank of France to the Bank of Eng-
:and being now in course of negotiation. Looking
at the peculiar circumstances of the time, &transac-
tion of this sort would be rather likely to increase
than to alleviate distrust, and hence the rumour
was generally discredited.

About 21,0001. in gold, chiefly from the conti-
nent, was sent into the Bank yesterday, while
103,000 sovereigns for Brazil, and 48,000 for Buenos
Ayres, were withdrawn, for transmission by the
packet, which will leave Southampton to-morrow.
Mr. G. Evans, of the Evelyn Ironfoundry, New-
port, has stopped payment, " owing to heavy
losses, together with the high rate of discount and
general depression in trade." The liabilities, how-
ever, are understood not to be heavy.
The dividend on the Great Northern Railway
stock for the half-year is officially announced at the
rate of 5 per cent. per annum, against 5} for the
corresponding period of 1865. The present distri-
bution allows 21. 10a. on the ordinary stock, 31. on
the B, and 21. on the A.
The foreign exchanges yesterday afternoon were
generally higher, especially on Belgium, owing to
the recent shipments of gold to that country, and on
Germany. Notwithstanding the difference in the
rate of discount between Paris and London, there
is no alteration in the French exchanges. Sub-
joined is our usual list:
Amsterdam, 3 months, 12.1 to 12.2 ; ditto, short,
11.174 to ILlB$ ; Rotterdam, 3 months, 12.1 to 12.2
Antwerp, 3 mouths, 25.55 to 25.60 ; Brunch, 3
months, 25.55 to 25.60; Hamburg and Aliens, 3 month',
13.10 to 13.101 ; Berlin Cologne, &0., 3 months, 6.28
to 6.29 ; St. Petersburg, 3 months, 284 to 28 ; Paris, short,
25.124 to 25.224 ; ditto, S months, 25.424 to 25.50 ; Mar-
seilles, 3 months, 25.424 to 25.50 ; Fmaldort-on-the-Maine,
3 months, 1194 to 1204 ; Vienna, 3 months, 13.60 to
13.80; Trieste, 3 months, 13.60 to 13.80; Madrid, 3nsonths,
444 to 44 ; Santander, 3 months, 45 to 444454 ; Cadiz, 3
months, 454 to 45 ; Seville, 3 months, 46 to ; Malaga,
3 months, 454 to 45 ; Valencia, 3 months, 464 to 46 ; Bar-
celona, 3 months, 47$ to 474 ; Bilbao, 3 months, 46 to
45 ; Valladolid, 3 months, 0 Saragossa, 3 months,
434 to 45 ; Leghorn, 3 months, 27.75 to 27.90 ; Genoa,
3 months, 27.75 to 27.90 ; Naples, 3 months, 27.75 to
27.90 ; Palermo, 3 months, 27.75 to 27.90 ; Meesims
3 mouths, 27.75 to 27.90 ; Lisbon, 90 days' date, 514
to 511 Oporto, 90 days' date, 514 to blf.
The subjoined communication on the Anglo-
Turkish Loans refers to a point which has been
frequently discussed, but appears yet to be not
sufficiently understood by the public. There is no
doubt that the dividends and sinking fund of the
secured Turkish stocks are mire to be met, since the
bondholders could at all times make good their
claim upon the revenues specially assigned to them.
It is very different with the non-secured stocks, as
a default might at any time happen from the diffi-
culties of the general treasury :

TO THE EDITOR OF THE =runes.
Sir,—The madden and serious fall in the current prices of
Turkish securities seems to me to require explanation so
far as respects the loans of 1854 and 1858. The former is
secured by the EgyptianTribute,which exceeds the amount
of the yearly interest and sinking fund, and is, I believe,
remitted to London regularly. This simnel payment is
made pursuant to a treaty to which the great powers of
Europe are parties, and at the date of the subscrip-
tion the British Minister for
cognised the loan, and I pregame the French
minister for the same department did so likewise. I am
utterly unable to account for any special decline in the
price of this stock. Having regard to the important points
in its favour, I should have expected to see it quoted at or
about 90 per cwt, said I trust that if the fall arises from
speculative sales, the peopristere will sot samillos their
property, bat, on the contrary, inquire whether there is any
reason to doubt the sufficiency and validity of the hwothe-
cation to them, and if they And (as I believe they wiW that
there is no ground for distrust, they will support the
market and their own interest:74_4m, ha.,

cis IGM.

The working of districts Nos. 1 and 2 of the sys-
tem of the Rio de Janeiro City Improvement' Co.-

pany was commenced on the Ist July last, and on
the same duty the deodorising in both districts was
also commenced, thus bringing into working and
revenue 8,634 houses in addition to the 2,486 in
district No. 3, making a total of 11,010 houses in
revenue, at 61. se. a house, from the lit July and
it is confidently anticipated that by the end of the
year this number will be further inert/ailed by at
least 3,000.
The traffic earnings of the Great Western Rail-
way of Canada for the week ending July 27
amounted to 10,9631. lbs. 4d., against 11,2658.
01. lid. for the corresponding week of 1865, show-
mg s. decrease of 3011. 18s. 7d.
The half-yearly meeting of the Brighton Gas-
light and Coke Company is called for the 23rd
inst.

Vice-Chancellor Kinder.ley has appointed Mr.
G. Scott the official liquidator of the Slate Moun-
tain Company.
The Master of the Rolls has also appointed the
same gentleman official liquidator for:Winding up
the affairs of the Rhos Hall Iron Company
(Limited).
In the matter of the Madrid Bank, which was
ordered by the Master of the Rolls to .be wound
up, a dividend of 12s. dd. in the pound is now
payable to the creditors at the offices of Messrs.
Hart Brothers and Co. the official liquidators.
Subjoined are the quotations of insurance, gas,
dock, and other shares, as given in the Stock Ex-
change list of last evening
Insurance.—Alliance British and Foreign, 131; ditto,
Marine, 301; Attu, 11, ez div. ; Commercial Union, 8l;
Indemnity Manna 115, az div. ; Liverpool and London
and Globe ill. Annuities), 201 ; London and. Provincial
Marine, 2 North British and Mercantile, 164 ex div. ;
Royal Bzolianr. 295, ex &v.; Thames and Morey Marine
(limited), 6, .
Gaslight and Coke.--Commercial, 301; Great Central,
11l ex div. ; Impel, 700; Imperial Continental, 86, 5 ;
Phcenix, 251, 6, ex div. ; Western, 141, 14, I, ex di..
Borba—London and Bt. Katherine, 681, 8, 74 ; Barmy
Commercial, 106, 4.
Waterworks.--Chelees, 28 ; East Landon, 123, ex div.;
Grand Junction, 78 ; West Middlesex, 110.

at
Consols, which closed yelerdaTuy or
money and next ThnrsUy s settlemen opened
this morning at B'7l to 88, and closed at,871 to f.
For the new account (September) the last price was
88 3-16 to 5-16. The official bushier report is
as follows :—Three per Cent. Consols, kr moneys
87f, ; ditto, for account, 87*, 8,7 f ' ; Three
per Cents Reduced, 87f, 7 ; New Three per Cents.,
87f, 7, 61; Bank Stock, 247 ; India Five wit
Cent.
Cent. Stock, 1021, 31 ; ditto Four per Cent., 02;
ditto Four per Cent. Bonds, 175., 10s., 17s. prem.
.
Indian Government securities showed no varia-
tion. The March Exchequer Bills were quoted
fos. dis. to par, being firm ; and the June 3a. to Bs.
prem.
The transactions in foreign stocks were limited,
but the market was somewhat firmer than yester-
day. Venezuelan Bonds of 1864 were in good re-
quest, and rose 14 per cent. Turkish of 1858 and
1862 also improved 1 per cent.: Italian of 1861, 4 ;
and Turkish of 1866, #. On the other hand,
Egyptian (lint and second issue) declined 1 per
cent., and Mexican and Spanish Passive, I.