The Express.
London, England, 1867-05-30 00:00:00

COMMERCIAL AND MARKETS.

LIVERPOOL COTTON MARKET.
(THIS DAY.)
(BT TEISORAPH.)
(MON OUR ovrs COEIRESPONDECT.)
The market steady. The sales foot up about. 15,000
bales.

MINCING-LANE.-(THIS DAY.)
SOGAR.-There is a rather improved demand at the pre-
vious currency. Some speculative purchasers having im-
parted firmnexa to the market, refined is also in better
request at previous rates.
Corrtr..-The public: sales of Ceylon continue to go off
steadily at the valuation. Plantation, fine and fine fins
ordinary, 71s. to 77.. 6.3. ; low to good middling, 7145. 6d.
to 854.; bold, Mis. ; native Ceylon, good ordinary, 625. 6d.
to 645. ; fine ordinary, 66a. to 675. ;bold, 701. to 70a. 6d.
COCOA.-07iNg to extensive parcels being brought to
public sales prices have again declined, Trinidad, 2e. per
cwt.; good to fine red sold 625. 6d. to 855.; and Grenada at
rather easier rates, common to fine, 47a. tosBa. 6d.
Tr.a.-The market is steady, but rather quiet.
Rum remains firm. Demerara sold at Is. 7d. to ls. 71d.,
hhds. at la. Bd., and barrels, Is. 9d. ; Berbiee, Is. 50. to
ls. 6d. ; Mauritius, Is. 41d.
RICE-The sales are confined to small parcels of Ran-
goon at 12s. 6d.
Saoo.-For good large pearl 15s. 6d. to 16s. paid, being
rather cheaper.
Farm-There is only a moderate business doing, at
previous prices.
SPICEB.-Pimento continues in request, at fully previous
private contract rigs;p low middling to good middling
sold at led. to 2d. Ginger-Jamaica at a slight advance ;
low to good middling, 445. to 80s. ; Cochin, resh import,
675. to 68s. ; African, 28.5. 6d. to 29a. Pepper at steady
prices; Penang, 2&d. to 2 15-16 d. ; white Singapore 54d.
Cinnamon-Ceylon, @mond sort, Is. Bd. to Is.;
le. Sd. ; fourth, Is. 2d.
Ssurrrar..-301) bags of Bengal sold at 18s. 3d. cash
for refraction 6i.
COTTON is in moderate request, at steady prices.
Jura has sold at full prices to 25e. per toe advance ;
common, 15/. ss. to 15/. 15e. • medium, 161. 10e. to 191. ;
good and fine, 191. 10s. to 231. ss. ; refection, 14/. 10a. to
141. 15s.

Himi.—Rudan is in request, and firmer prices are de-
manded, 34!. 10s. for clean.

TALLOW MARKET.—(IIIIB DAY.)
The market is quit. Town tallow is quoted, 41s. 9d.
Petersburg Y.C. on the 'pot. eds. Cd. ; June, 435. 6d.
October to December, 445. 3d. to 44.. 6d.; December,
445. 6d. to 445. 9d.

METROPOLITAN CATTLE MARKET.
(THIS DAY.)
There are a few more beasts than on Thursday last, and
the demand is smaller ;pricee are consequently lower, and
several remain unsold. There are also a few more sheep,
and trade fur them is very dull ; they cannot all be mold,
although prices are lower. It is very difficult to make
Monday's yuotationa for choice lambs and calves, and In-
ferior qualities are lower. Our foreign supply consists of
140 beasts, 3,020 sheep, 183 calves, and 10
Per stone of 810 e. a d. a. d. Per stow of 811 es. a. et a. d
Eat Wu, Herald 4 II II • Beet Derek Rf-bdiSh 4 10 6 0
Beet Short-horns 4 8 4 10 Beet Low-w 0015.... 0 0 0 0
Second quid besets 3 0 4 0 Do. do. Shorn.... 4 4 4 8
Calved
MCI
Best Derek fllf-brede 0 0 0 0 Unite
Besets at market, 860 ; sheep sod lambs, 10,000: salves. 337,
Pigs. 70.

HAY MARKET.—(THIS DAY.)
Mr. Charles James Easton reports trade very slow with
a downward tendency. Prime clover, from 100 a. to 110 a. ;
inferior ditto, Ms. to 90e. ; prime second out, 90e. to 100 s.;
inferior ditto, :16.. to 60e. ; prime meadow hay, 80s. to
85e. ; interim ditto. 60a. to 70a. ; straw. 40.. to 46..

Mr. H. Chaplin, owner of Hermit, the winner
of the Derby, has given the sum of 12,0001. to the fund
now being raised to restore Lincoln Cathedral.

THE TURP.—" Patinerworrn" writes to the Times:
—"What • solemn mockery of justice is it to hunt down
the street bookmaker, to erred the ordinary public-house
gambler, to come down with the full force of the police on
the low betting-houses, when there is not • • tout,' one
single professed better at ' the bar,' one keeper of a betting-
house, who could not recite by the hour true stories
equal to any of his own, with which the law never
meddles, because it is done by some of the noble and
wealthy patrons of the turf ! You have alluded to the
practice of ' friends' making profit out of young men
who have hardly yet grown their earliest ' book' fea-
thers. Why, sir, who on earth thinks of sparing •
friend in squaring his book ? I am an utter unbe-
Hever in any turf brotherhood—sceptical as to father-
hood ; I am satisfied it would be no heavy social sin for
brother to win from brother on private information ;
I never heard of father and eon practising on each
other, but, by commission, I can easily conceive it
quite likely, nor should I expect to hear it
much reprobated. Where tte remedy may be
for this state of things I know not. So long as
noblemen and gentlemen lend their aid to support
what no one can defend, the thing will go
on. If some 8,0001. is well laid out to secure • lad doing
that best to win which he is hired to do at the ordinary
wages of hie calling, I cannot doubt that if winning on an
outsider can be so subsidised, the same sytem will be very
efficacious in procuring the losing by a favourite. Broken
blood-vessels will be at • premium ; it will require no
great stable ingenuity to make them o: simulate them to
order.'

MONEY MIRENT.-(THIET DAY.)

Chrs o'OLooz.

The markets for public securities are buoyant
to-day, and the general course of prices is upwards.
The amount of business is considerable, though
attention is still directed to the fortnightly settlement.
It is thought that the expected announcement
this afternoon of a reduction in the Bank rate of
discount may perhaps be followed by some with-
drawals of deposits from the joint stock banks and
discount establishments, since their allowance will
be only about If per cent. Consols are accord-
ingly in strong request upon the prospect of in-
creased investments from this source, and
exhibit a further rise of per cent. The
Three per Cents. Reduced and New Three
per Cents. are higher, and the upward
movement extends to British railways and foreign
stocks. Spanish Passive Bonds and Certificates
are in especial request, upon rumours that the ar-
rangements for a settlement of these debts are
making satisfactory progress. London and West-
minster Bank shares have experienced an impor-
tant advance, in consequence of the notification of
the proposed issue of new shares at 101. prem.
There is very little business in the discount
market, bills being generally kept back in expecta-
tion of the Bank rate being reduced this afternoon
from 3to 2} per cent. ; the directors, however,
will not meet till 2 o'clock, this being Ascension
day. The charge for choice paper is 2,1 per cent.,
with occasional transactions at 2f.
Consols are now quoted 04} to with div.,
for money, and 921 to l„ ex div., for the ac-
count (June 6), and the Three per Cents. Reduced
and New Three per Cents., 921 to 0.
The Indian Five per Cent. Stock is firm, at 111 i
to 112.

The government broker has bought to-day
13,0001. New Three per Cents. for the sinking
fund, and he bid 76,1 for a parcel of New Two-and-
Half per Cents., but the dealers asked 77.
The foreign stock market is extremely firm.
Spanish Passive Bonds have advanced 11 per cent.;
Turkish of 1862, 1 ; ditto of 1865 and Spanish Cer-
tificates, ; Italian of 1861, 1, dc. Turkish Bonds
of 1862 are quoted 57} to 58} ; ditto Five per
Cents. of 1865, 32,3, to ; Greek, 14!., to ; Spanish
Passive, 241.• to I ; ditto Certificates, 151 i to
; Italian of 1861, 52g to ; Mexican, 161 to 17,t.

American securities and Atlantic Cable shares
show no change of importance. The 5-20 bonds
are quoted 72/ to 1 ; Erie Railway shares, 391 to
404 ; Illinois Central, 76 to 1 ; Anglo-American
Telegraph, 171 to / ; and Atlantic Telegraph S per
cent, preference, 4 3-16 to 5-16.
Financial and miscellaneous shares are steady.
International Financial are quoted 21 to 2 dis. ;
General Credit, 2 to 11 dis. ; Credit Fonder, 6
to 51 die. ; London Financial, 22 to 21 dia.; Hud-
son's Bay, 161 to ; and National Discount, 71
to a prem.

London and Westminster Bank shares are in I
active demand, and have advanced about W., the I
present quotation being 105 to 110. Imperial
Ottoman are steady, at 1 to 011 dis., and Alliance
at 14 to 8i dis.
A petition for the winding up of the South of
France Wine-Growing Districts Company (Limited)
is to be heard before the Master of the Rolls on the
Bth of June.
It is notified that the dividend declared at the
annual meeting of Claridge's Patent Asphalte
Company, held in Paris on the 24th instant, is
now in the course of payment.
The Agra Bank (Limited) is now prepared to
anticipate payment of its promissory notes falling
due on the 15th July next under rebate of the in-
terest which the notes carry.
About 113,0001. in gold was taken to the Bank
yesterday, making an aggregate of 573,0001. since
the date of the last return, while there have been
no withdrawals whatever for export.
In the matter of Overend, Gurney, and Co.
(Limited), there were some further proceedings
yesterday in Vice-Chancellor Melina' chrmbers, be-
fore Mr. Buckley, the chief clerk. It has been
discovered that the call made some time back by the
Vice-Chancellor was irregular, as, under a volun-
tary liquidation, calls must be made by the liqui-
dators. Yesterday upwards of 2,300 summonses
came on for payment of the further 101. call, which
represents a total of one million. Mr. Linklater
appeared on behalf of the Defence Association, and
explained to the chief clerk that, according to the
last report and statement of accounts furnished by
the liquidators, there was a deficiency of assets
amounting to only 60,0001. He urged that it is
very unjust that, while the appeal to the House
of Lords is pending, so large a sum should be de-
manded from the unfortunate shareholders, and he
intimated that the case for decision before the

Law Lords is now quite complete, and that
he confidently expects a final judgment to be given
in the course of a couple of months. The chief
clerk adjourned the summons into Chambers, to be
heard before Vice-Chancellor Mains to-morrow

(Friday), at 4 p.m. In the event of his Honour's
decision being adverse, the Defence Association
have determined to argue the question before the
Lords Justices. It will be remembered that the
shareholders, who have fully established their case
of fraud, paid originallyto the company 1,500,0001.,
and the liquidators have only just completed the
collection of a recent call of another million. Close
upon two millions and a half have consequently
been obtained from this unfortunate proprietary
and wholly engulphed. It seems only reasonable,
therefore, that the shareholders should ask for some
indulgence under existing circumstances, especially
considering that, as above stated, the liquidators
show so small a deficiency of assets. Moreover, it
may ultimately be discovered that the shareholders
are not liable at all.

We are authorised to state that the directors of
the London and Westminster Bank will, at the
next meeting in July, recoiamend to the proprie-
tors the issue of 50,000 new shares, upon which
201. per share will be called tic during the following
eighteen months, thus raising the paid-up capital
of the bank to 2,000,0001. They will also recom-
mend that the above shares be offered to the pro-
prietors, share for share, at 101. premium, and that
this premium, amounting to 500,0001., be added to
the reserved fund, raising it to 1,000.0001.—a sum,
in the opinion of the directors amply sufficient for
all the functions it is intended to perform. Thence-
forward the whole of the net earnings of the bank
will consequently be available for distribution
among the proprietors.
Most of the railway traffic returns published
this week will show a considerable comparative
falling off, in consequence of the corresponding
returns for last year including the traffic of Whit
week. The London and North Western return
shows a decrease of 10,6811., and the Midland a
decrease of 3,2551.
At the meeting yesterday of the English Bank of
Rio de Janeiro (Limited) the net profit for the
year was stated at 52,1081. A dividend of Gs.
per share, free of income tax, amounting to
15,0001., was paid in November last, and it is in-
tended to divide a similar amount on the 10th of
June next, making a total distribution of 6 per
cent. for the year. The balance-22,108:.—is to
be carried to the reserve fund.

The traffic receipts of the Atlantic and Great
Western Railway for the first week in May
amounted to 103,828 dole., against 06,054 dole. in
the corresponding period last year, showing an
increase of 7,774 dole.
The half-yearly ordinary meeting of the Imperial
Continental Gas Association was held at the Lon-
don Tavern, on Tuesday, the 28th instant, when a
dividend of 2'. 10s. per share and a bonus of 11.

per share (making together N. 10s. per share) were
declared upon the 28,000 shares of the association
for the half-year ending the Slat December last,
payable, free of income tax, on the 10th of June
next.

The preparations yesterday for to-day's settle-
ment in the railway market showed generally a very
limited supply of B,ock, especially as regards Great
Eastern, Great Western, Lancashire and York-
shire, South Eastern, Midland, and Brighton. For
the loan of the latter stock till the next settlement
a " backwardation" or bonus of per cent. was
given in the afternoon. The following shows the
terms generally current:

CONTANOOS
Owing.

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