The Express.
London, England, 1866-05-25 00:00:00

MONEY MARKET.-(THIS DAY.)

Ws o'Cluxic.

The dealings in public securities to-day are upon
a very limited scale, and prices generally exhibit
no alteration. The markets on the whole are
steadier, especially as regards bank shares. Agra
and Masterman's and Alliance ere quoted 16 to 19
and 111 to 104 dia. respectively, being the same as
at 4 o'clock yesterday. The funds and most of the
foreign stocks are unchanged, but there is a
demand for Italian Bonds of 1861, at an advance.
British railways have declined in some instances,
the chief reduction being in London and North
Western. Financial shares and American securities
are quiet.

There is no change in the discount market. The
supply of money is good, but, owing to the existing
distrust, and the unsatisfactory character of the'
Bank of England return, the rate for the best
paper is 10 per cent. and upwards.
Amongst the changes in the Bank of Franoe re-
turn are an increase of 880,000/. in the coin and
bullion, and of 453,6001. in the bills discounted.
Consols are now quoted 86i to 3, with div., for
money, and 86} to it, ex div., for the account
(June 6).

The foreign stock market is inactive, and the
only variations are a rise of i per cent. in Italian
of 1861 and a decline of i in Turkish of 1865.
Turkish Bonds of 1862 are now quoted 56 to
i5B ; ditto of 1865, 29} to I ; Greek, 9 to 10 ;
Spanish IPaadve, 18 to 4 ; ditto Certificates, 13
to 4; Italian of 1861, 394 to 40 ; Brazilian scrip,
9 to 8 die. ; and Mexican, 164 to 4.

American securities show no alteration. 5-20
Bonds are now quoted 64 to ; Erie Railway
shares, 41i to 42 ; and Illinois Central, 74 to 76.
International Financial shares are now quoted
21- to 2 dia. ; London Financial, 16 to 14 dia.;
General Credit, 31 to 2i dia. ; Imperial Mercantile,
10 to 9 dia. ; Credit Foncier, ai to 3} dis. ; Overend,
' Gurney, and Co., 18 to 16 dis. ; and National
Discount, to 6 prem.

HALF-PAST THREE O'CLOCK.

Consols are steady, at 8& to f, with div., for
money, and 86f to i, ex div., for the account.
About 28,0001. in gold has been withdrawn from
the Bank for exportation, and 23,000/. sent in.
At Paris this morning, the Three per Cent.
Rentes opened at 64.30, showing a fresh advance
of nearly i per cent.

The amount of government bills on India for
which tenders will be received at the Bank of Eng-
land on the 6th of June will be rupees 32,50,000
(325,0001,)

Messrs. Macculloch, John, and Co., of Liver-
pool, East India merchants, chiefly in the Bom-
bay trade, yesterday stopped payment. The lia-
bilities are estimated at nearly three-quarters of a
million, and as the result of the estate depends
upon the realisation of cotton, the market for
which is in a very unfavourable state, it is feared
that the deficiency will be large. The principal
creditors are the Anglo-Indian banks. The part-
ners formerly acted as managers for two of those
establishments, and have been in business on their
own account only about two years. Subjoined is
the circular issued :

Liverpool, May 24.
We regret to inform you that in consequence of the
very serious depreciation in the value of cotton and the
monetary panic prevailing in Bombay, we have been com-
pelled to suspend our payments. We shall place our books
in the hands of Messrs. Harmood, Banner, and Bon, who
will without delay prepare a statement of our affairs,
which shall be submitted to you at an early date.—Mean-
time soliciting your forbearance, we remain, your. I
faithfully, MACCULLOCH, JOHN, and Co.
A statement of the affairs of Messrs. S. P.
Framjee and Co., whose suspenaion was announced
on Saturday last, is, with the assent of the prin-
cipal creditors, being prepared by Messrs. Price,
Holyland, and Waterhouse. The liabilities are said
to be about 400,0001., a large proportion of which
will be covered by securities.
Mr. Coleman, of the firm of Coleman, Turquand,
Youngs, and Co., has been appointed by the
Court of Chancery provisional official liquidator
of the Bank of London. The object of this arrange-
ment is of course to protect the shareholders and
all those parts of the business which are not taken
over by the Consolidated Bank, but it has no bear-
ing upon the arrangement with that bank.
The following circular has been forwarded to the
shareholders of the Bank of London :

----------- -
I son instructed by the directors to inform you that,
owing to the pressure of • continued withdrawal of
deposits, consequent upon the recent financial crisis, they
have, after the most anxious consideration, felt themselves
compelled, in the interests both of the customers and
shareholders, to make arrangements for the transfer of the
deposit and current accounts of this bank to the ('onsoli-
dated Bank (Limited), who have undertaken to provide for
and meet the same, and who will carry on their business
at the premises heretofore occupied by this bank, so that
all the banking operations of the customers may be con-
tinued without any impediment. A meeting of shareholders
will be called for an early day, when full explanations will
be given, and a resolution proposed for the winding-up of
the bank ; and in the meantime, with a view to protect the
interests of all parties, • petition to the Court of Chancery
has been presented, and an order made for the appoint-
ment of Mr. J. E. Coleman as provisional official liqui-
dator. The directors entertain a confident hope that the
liquidation will be of • favourable character.—l am,
your obedient servant, W. 0. ALLENDER, Secretary.
London, May 24.
With reference to the affairs of the European
Bank (Limited), the annexed circular has been sent
to the shareholders :
Sir,—The directors of the European Bank having issued
proxies to the shareholders, and invited their support at
the meeting called for the 29th instant, the undersigned
shareholders think it right to direct attention to the fact,
and to suggest that the shareholders withhold any proxies
and decide for then.selves what course shall be taken.
With a view to ascertaining the independent opinion of the
shareholders prior to the general meeting, and to assist to
guide the proceedings at that meeting towards the best
means of securing • liquidation that shall have the con-
fidence of the shareholders, and enable them to trace home
the causes of the collapse of the bank, the undersigned in-
vite your attendance at a private meeting at the London
Tavern, on Monday next, at two o clock.—We are, sir,
your most obedient servants,
(Signed) JOHN VENABLES, EDWARD STERNER, EDWARD
WOLFF, Mitrrimw HENRY CHAPYIN.

London, May 24.
At the meeting oc•the shareholders of the Bank of
Hindustan, China, and Japan, held yesterday, the
directors' report, which has already been published,
was adopted, after a long discussion with reference 1
to the extensive losses of the bank in India and ,
Chins- The chairman, Mr. Daniell, remarked
that they were in a position to continue the
business, having still 750,0001. of capital, and the
credit of the undertaking in India being good.
It is announced that Messrs. Arthur Ashton,
John Bigham, and Henry Woodfall have joined •
the Board of the Mercantile and Excb.nge Bank of
Liverpool.
A call of 21., making 151. paid or credited, is to
be paid on the shares of the General Exchange
Bank (Limited) by the lst August.
The Lancashire and Yorkshire Railway traffic ,
returns shows this week an increase of 7,7811. over
last year ; the North-Eastern an increase of
4,3941.; the Manchester, Sheffield, and Lincoln-
shire an increase of 3,2851.; the North British an
increase of 1,8861. ; the ondon Chatham, and
Dover, including the Metropolitan Extension
and branches, an increase of 1,9381.; the Metro-
politan Extension an increase of 3761. ; and the '
Kent Coast an increase of 1201.
An extraordinary meeting of the Great Northern
Railway Company is to be held on the 12th of
June, to sanction agreements for an amalgamation
with the Edgware, Highgate, and London Railway
Company, and for the transfer of the Watford and
Edgware Railway to the Great Northern Company.
A special general meeting of the Isle of Wight
, Railway Company is convened for the Bth of June,
" for the purposing of considering the propriety of
appointing a committee of shareholdem to investi-
' gate the affairs of the oompany, with power to em-
ploy accountants, and transact all business incident
thereto."