The Express.
London, England, 1866-10-05 00:00:00

MONEY MARKET.-(THIS DAY.)

Oxi o'Curci.

Public securities remain fiat, and prices have
experienced a fresh fall. The unfavourable cha-
racter of the returns of the Banks of England and
France have tended to increase the disposition to
effect sales, although the changes shown are usual
at this period. Console and some of the foreign
bonds have declined per cent. Italian, of 1861,
are again slightly lower, notwithstanding the
announcement that the treaty of peace between
Austria and Italy has been actually signed. In
the railway market the most important movements
are a rise in London, Chatham, and Dover, and a
further reduction in Metropolitan. Banking and
financial shares have been very little dealt in, and
the tendency of quotations is still downwards.
Hudson's Bay are somewhat worse. Preparations
for the monthly settlement in the funds have com-
menced.

There is no new feature in the money market,
the supply being still large, and the demand
moderate. The rate for choice paper is 4} per
cent., with exceptional transactions at Loans
till Monday on English government securities are
obtainable in the Stock Exchange at 3to per
cent.

The changes in the weekly return of the Bank of
France comprise an increase of 1,010,000 L in the
bills discounted, and a decrease of 525,000/. in the
coin and bullion.

Consols are now quoted 891 to f for money, and
891 for the 9th inst.
Foreign securities are dull, but prices generally
have not varied, in the absence of business.
Mexican Bonds and Italian of 1861 have declined

per cent., but Turkish of 1865 present a recovery
of t. Turkish Bonds of 1862 are quoted 54 to
55 ; ditto, 1866, 301 to ; Greek, 14i to 16 ;
Spanish Passive, 22 to t ; ditto Certificates, 147 to
; Italian of 1861, 551 to ; and Mexican, 16 to t.

American securities are in demand, at an im-
provement. 5-20 Bonds have risen per cent. ;
Erie Railway shares, 2} ; and Illinois Central, f.
The present quotations are as follows :-5-20 Bonds,
70# to # ; Erie Railway shares, 81 it to 52 ; and
Illinois Central, 78 to f.
Anglo-American Telegraph shares exhibit a
fresh reduction of 55., being quoted 161 to #.
Atlantic Telegraph, however, are steady, at 51 to 4.
International Financial shares are quoted If to

11 die. ; London Financial, 16 to 15 dis.; =enteral
Credit, 21 to 2 die. ; Credit Foncier, 4i to 41
die. ; and National Discount, 81 to 9 prem.
Telegrams received from Bombay announce the
stoppage of the Asiatic Bank Corporation, with
liabilities amounting to about 3,500,000/. The
creditors, however, are expected to be paid in
full, the shareholders being liable for double the
amount of their shares, under the terms of
the royal charter granted to this undertaking.
The public have not yet digested the large amount
of new securities created during the last two or
three years, and consequently manifest little dis-
position to support prices by investments: Specu_
lators for a fall are taking advantage of the distrust
which recent events have generated in the public
mind, and are pressing sales of most of the princi-
pal home railway stocks.

The amount of gold sent into the Bank yesterday
was 20,0601., chiefly sovereigns, from Brazil.
The steamer Tanjore took yesterday only 6,3001.
in specie, of which 1,8001. is for Alexandria, and
4,5001. for Hong Kong.
The Great Western Railway traffic return shows
this week an increase of 1,872/. over the corre-
sponding week of 1865 ; the Great Eastern, an in-
crease of 4141.; the Great Northern, an increase of
1,9221. ; the North Eastern, an increase of 2,7461. ;
the Lancashire and Yorkshi;e, an increase of 2,135/. ;
the Manchester, Sheffield, and Lincolnshire, an
increase of 1,2741.; the London and South Western,
a decrease of 8811. ; the North British an increase
of 1,749/.•, the London, Chatham, and Dover, in-
chiding the Metropolitan Extension and branches,
a decrease of 3451; the Metropolitan Extension, a
decrease of 1271. ; and the Kent Coast, a decrease
of 5001.

The traffic receipts on the Atlantic and Great
Western Railway for the second week in September
amounted to 160,635 dollars, against 122,048 dollars
in the corresponding period last year, showing an
increase of 44,587 dollars. The total receipts for
the first two weeks in September amounted to
289,995 dollars, against 204,010 dollars in the
like period of 1865, exhibiting an increase of
25,985 dollars.
The Stock Exchange Committee hare appointed
Monday, the Bth inst., a special settling day in the
shares of the Mont Cenis Railway Company
(Limited), which are to be marked in the twice a
week list.

It is stated that a number of shareholders in
Smith, Knight, and Co. (Limited), following the
example of the sufferers from similar disastrous
concerns, are proposing to form a defence associa-
tion. _ _ _

An extraordinary general meeting of the Great
Eastern Steamship Company (Limited) is called
for the 9th inst., at the London Tavern, " to con-
sider and determine upon the steps to be taken
with respect to the 2.500 shares in the Anglo-
American Telegraph Company (Limited), held by
this company, and the 50,0001. in ordinary stock of
the Atlantic Telegraph Company, to which this
company is entitled under the charterparty of the
Great Eastern, dated the 25th day of May last ; to
declare a dividend ; to fix the remuneration of the
directors for their aervioes since the formation of
the company, and for such other business as may
occur." _ _ .

vv
The first general meeting of the Merchants Com-
pany (Limited) was held yesterday. The report,
which was adopted, stated that the undertaking
has suffered from the effects of the financial and
commercial panic, but the directors are glad to be
able to add that the actual losses made, or even
anticipated, aro not in themselves serious. The
directors have in view the reconstruction of the
company on a basis uhich will not increase the
liabilitiy of the shareholders, whilst it will in the
opinion of the directors place the concern on a
sounder and more satisfactory basis.
It appears that several holders of Metropolitan
Railway Extension shares propose to apply to the
Court of Chancery next term to enforce specific
performance of the contract alleged to be made by
the Metropolitan Railway Company with the Ex-
tension shareholders on the Bth February, 1865,
under which the Extension shares were issued, and
by which the company are held to have bound
themselves to admit the Extension holders to divi-
dend in common with the original shareholders,
out of the current income of the Metropolitan Rail-
way, from the Ist of January next. The facts are
understood to be as follows :—The Extension capi-
tal (in all, 1,900,0001.) was raised under the Nut-
ting-hill and Tower-hill Extension Acts of 1864,
chapters 291 and 315 respectively. By both acts,
the company were empowered to define by resolu-
tion the conditions, as to dividend and amal-
gamation, on which tlicse Extension shares
should be issued, the acts providing that
" such conditions shall •be expressed in the
resolutions of the company creating those shares."
The resolutions accordingly passed on the Bth
February, 1865, and forming the endorsement on
the share certificates, provide that from the end of
December next the Extension holders " shall be
entitled to dividend in common with the holders of
existing ordinary shares or stock, but limited in,
their case, for the first three years, to the rate of
six per cent. per annum ;" and that on the Ist of
January, 1870, the Extension shares then fully paid
up shall be amalgamated with the ordinary stock.
It is urged that these resolutions entitle the Exten-
sion holders to dividend out of the current income
of the existing railway from the Ist of January