The Express.
London, England, 1866-11-07 00:00:00

THIS DAY.)

105

NI

94 5

totil s

_ll

-4
4,179
6,615

Ons o'Otecn.
The funds are in demand to-day, and
have experienced a fresh advance of 1 per
cent. The transactions exhibit an increased
number of bona fide purchases, owing to
the distrust prevailing with regard to most other
securities. English railway stocks are steady, but
some of the foreign bonds have given way, Turkish
and Italian showing chief dulness. Banking and
financial shares have been very little dealt in.
Credit Fonder of England are heavy, at the fall of
yesterday. The settlement in Consols is now in
course of completion.
The discount market is freely supplied with
money to-day, while the demand is extremely
moderate. Some bills are kept back on the chance
of a reduction in the Bank rate to-morrow to 4 per
cent. If this alteration should be made, the quo-
tation in the general market for the best paper,
which is now at 31 to 4 per cent., will probably
recede to 31. The change for short loans in the
Stock Exchange is 3 per cent.
Consols are now quoted 89} to g for money and
891 to for the account (December).
Foreign stocks are rather flat. Turkish Bonds
of 1862 have declined 1 per cent., and those of
1865, and Italian of 1861 are 1 lower. Mexican
have also ruled,}. Turkish Bonds of 1862 are
quoted 57 to 50 ; ditto, 1865, 301 to / ; Greek, 131
to 144 ; Spanish Passive, 211 to 1 ; ditto Certifi-
cates, 131 to 141; Italian of 1861, Sit to 55 ;
Mexican, 16i
United States 5-20 Benda and Erie Railway
sham have advanced 1 to 1 per cent., being
quoted 681 to 1 and 504 to 511 respectively.
111i/win Central are steady, at 761 to 771.
Anglo-American and Atlantic Telegraph shares
are ss. better ; the former are quoted 141 to .1,
and the latter, 4g to 1.
International Financial shares are quoted 11
to 11 die. ; London Financial, 151 to 141 die. ;
General Credit, 21 to 1/ die. ; Credit Foncier,
51 to 51 dia. ; National Discount, 91 to 104 prem. ;
and Hudson's Bay, 161 to
HALF-PAST THREE O'CLOCK.
The drafts of Messrs. Dent and Cu., the well-
known merchants, of China, have been returned
by their London agents.
Consols are 1 per cent. lower, at 891 to 1 for
money and 89g to 1 for the account.
About 81,0001. in gold has been sent into
the Bank, and 85,0001. withdrawn, chiefly for
Brazil.
At Paris to-day the Three per Cent. Renter
opened at 68fr. 80c., showing no change.
The chief influences operating upon the
money market point to continued ease, and,
in the opinion of most persons, would
justify a reduction in the rate of discount of
the Bank of England to 4 per cent. Amongst
these may be enumerated the recent marked im-
provement in the Bank's accounts, the continued
influx of gold, the steady return of coin hitherto
required for harvest purposes in the provinces, the
absence of demand for silver for the East,
the steadiness of the continental exchanges,
a relapse of 2s. per quarter yesterday in the
price of wheat, and the stagnant condition of spe-
culation. Under these circumstances it would
appear that the Bank might fairly try to recover
a portion of its discount business, the volume of
which has latterly experienced so imrtant a
diminution. The shipments of gold to Egypt and
a few other points must not have too much im-
portance attached to them, for, as we see, they are
insutticientto prevent a continuance of the accumu-
lation at the Bank of England • and, though the
Bank of France has latterly parted with a large
amount of gold, the stock there is still far in exceed'
of existing or prospective requirements.
The drawing of bonds of the Turkish Loan of
1862 is fixed for to-morrow (Thursday).
It is understood that the balance of the amount
required for the dividend due the Ist July last on
Mexican Three per Cent. Stock is expected either
by the mid-monthly mail, due on the 15th inst., or
by that following it, on the 29th, when it is stated
that this dividend will be announced for payment.
The foreign exchanges yesterday afternoon were
steady, at last Friday's rates. The usual list is sub-
joined :
Amsterdam, 3 months, 11.19 to 11.191 ; ditto, short,
11.131 to 11.14 ; Rotterdam, 3 mouths, 11.19 to 11.191;
Antwerp, 3 months, 25.421 to 25.471; Brussels, 3 months,
25.421 to 23.471; Hamburg and Altous, 3 months, 13.81 to
13.9 ; Berlin, Cologne Ito. 3 months, 6.251 to 8.24;
St. Petersburg, 3 months, ?..11 to 291 ; Paris, short, 15.121
to 25.=1 ; ditto, 3 months, 23.37 to 25.40 ; Marseilles,
3 months, 25.371 to 25.40 ; rani:fort-on-the-Maine,
3 mouths, 1191 to 12(1; Vienna, 3 months, 13.20 to
13.'25; Trieste, 3 months, 1:3.20 to 13. Z; Madrid, 3
months, 471t0471 ; Santander, 3 months, 471 to 471; Cadiz,
3 months, 481 to 48; Seville, 3 months, 481 to 48; Malaga,
3 months, 48 to 47f ; Valencia, 3 months, 48 to 471 ; Bar-
celona, 3 months, 481 to 481 ; Bilboa, 3 months, 471 to
471 ; Saragossa, 3 months, 471 to 471 ; Leghorn, 3
months, 27.30 to 27.40 ; Genoa, 3 months, 27.30 to
27.40 ; Naples, 3 months, 27.30 to 27.40 ; Palermo 3
months, 27.30 to 27.40 ; Messina, 3 months, 27.30 to
27.40; Lisboa, 90 days date, 511 to M 4 ; Oporto, 90 days
date, 511 to 511.
The first sale by auction of the London Stock and
Share Company (Limited), took place yesterday at
the Baltic Sale Rooms South Sea House, Thread-
needle-street, and appearedi to excite a great deal
of interest, the room being crammed, and even the
doors and passages crowded. A large number of
those present were members of the Stock Exchange.
The sale taking place at a tame when there is an
almost unparalleled apathy on the part of the
investing classes, it is not surprising to find that,
of the 470 lots offered, only 29 found buyers in the
room. The bidding' for the others, where any
were obtained, were below the " limits" or re-
served prices, which in several cases were fixed by
the holders at an absurdly high point, a cir-
cumstance which further tended to check
business. It appears, however, that the lots
sold went at satisfactory prices-in several cases
considerably above the " limits." Moreover, after
the sale 13 or 14 more lots were sold, and the
company are now in treaty for the disposal of addi-
tional parcels. The company, it should be under-
stood, do not restrict themselves to buying and
selling in public auction, but hold themselves free
to treat privately with both buyers and sellers, and
generally to transact Stock Exchange business,
while allowing to members of that establishment
half commission on all business introduced by them.
The rules and regulations laid down by the corn- I
prouys
batidtdhinegsouwtseeret wsterirecowyedlliscoadhuneredtenantoced, andbyfiethtie-
toompany's auctioneer.
The annexed communication, formally notifying
that 200,000/. of Lloyd's bonds of the Carmarthen'
and Cardigan Railway Company, now in the hands
of the public, are a duplicate issue, and, together
with " a very large amount beside," are utterly
worthless, though the intimation is not wholly new,
is little calculated to restore the already sorely
shaken faith of the public in securities of this
nature. The time has evidently arrived when, in
the interest alike of our railway companies and of
the !unsuspecting public, fresh safeguards are im-
peratively required :
TO TITS EDITOR OF THE EXPRESS.
Sir,-It having been communicated to the newly-elected
board of directors of the Carmarthen and Cardigan !cad -
way that Lloyd's bonds of that company have recently
changed bands, I am desired, as their chairman, to warn
the public, through your columns, against purchasing any
of these securities. The directors have already discovered
that 200,0001. (two hundred thousand pounds') worth now
in the hands of the public are a duplicate issue, and a very
large amount beside, they believe, have been issued with-
out proper consideration, and are therefore utterly worth-
less. lam sure you will not object to give the utmost
publicity to this communication, so as to prevent, as far as
possible, any additional snffering to innocent and =BUS-
pecting persons.-1 am, JOHN EVERITT.
The receipts of the Great Western Railway of
Canada for the week ending the 26th ult. were