The Express.
London, England, 1867-08-20 00:00:00

MONEY MARKET.-(THIS DAY.)

Ma o'Clooz.

The tendency of the stock markets to-day is
unfavourable, and prices have receded, though
not to any general extent. Very little
business has been recorded, and no increase of
importance is expected for the present, owing to
the holidays. Consols are fiat, at the reduction of
yesterday. Most of the British railway
securities have given way, additional specu-
lative sales having been induced by the
remarks of Lord Redosdale in the House of
Lords yesterday with respect to the again of the
Great Eastern Company. Foreign bonds are fiat,
and banking, financial, and miscellaneous shares
inactive. The government broker has bought
22,5001. New Two-and-a-Half per Conte. for the
sinking fund, at 77i. _ _ _

In the discount market to-day there is an in-
creased number of bills offering, thereby indicating
a partial revival of trade. The supply of money,
however, is still very large, and transactions are
reported at lf to 11 per cent, or 1 to f below the
Bank minimum. The rate in the Stock Exchange
for loans for a few days on English government
securities is 1 percent.

Consols are quoted 941 to # for money, and
941 to I for the account ; and the New Three
per Cents. and Three per Cents. Reduced, 94 to 1.
British railway stocks are offered, and have de-
clined. Great Eastern has receded per cent. ;
Brighton, 1; Metropolitan, London and North
Western, Midland, and Lancashire and Yorkshire,
; and London, Chatham, and Dover, 4. Great
Northern, however, is higher. The present
prices are as follows :—Metropolitan, 1261 to 4,
ex all ; Great Western, 444 to 4 ; London and
North Western, 1164 to # ; Midland, 120 to 1;
Lancashire and Yorkshire, 1271 to ; Caledonian,
113 to 114 ; South Kaiternl 674 to 684 ; Great
Eastern, 30 to 1 ; Great Northern, 115 to 116 ;
ditto A, 1161 to # ; London, Chatham. and Dover,
174 to I ; North British, 304 to 31 ; Brightor,
494 to ; ditto New, 3} to 44 prem.
Foreign stocks are dull, and a reduction of to #
percent. has occurred in Turkish of 1865, Spanish
Passive, the Committee's Certificates, and Mexico,.
Subjoined are the present prices :—Turkish of 1862,
67 to 58 ; ditto of 1865, 31 to 1; Greek, 131 to ;
Spanish Passive, 204 to 1; ditto Certificates, 151 to
164 ; Italian of 1861, 481 to 49 ; and Mexican, 14
to 4.

Bank shares have been little dealt in, and prices
generally are without change. London and West-
minster are called 72} to 73} ; Union of London,
38} to 39} ; Imperial Ottoman, 1 to Of dia.;
Chartered Mercantile of India, 29 to 30 ; and
Alliance, 12 to 11 dis.,being rather firm.
Financial shares are uncharged, at the following
quotations :—lnternational Financial, 2} to dia.;
London, 23 to 21 dis. ; General Credit, 2} to 2}
; and Credit Foncier, 51 to 5} dis.
American securities have declined } to } percent.
The 5-20 Bonds are quoted 73} to } ; Erie Rail-
, way shares, 444 to 454 ; and Illinois Central, 77}
_ _ _ . _ _ _

Anglo-American and Atlantic Telegraph 8 per
Cent. Preference shares are steady, at 161 to In,
and 3} to ft respectively.
The adjourned special meeting of the Metropo-
litan District Railway Company will be held on
the 22nd inst., when the directors will ask for
authority to issue debenture stock.
It is satisfactory to note that trade generally sp_
pears to be improving. There is less disinclination
to embark in fresh transactions, and in many
quarters it is thought that the revival will be more
marked in the latter part of the autumn. For this
reason a reduction of the Bank rate from the
present minimum of 2 per cent. is not anticipated,
although but a short timo back it seemed certain.
About 18,0001. in bar gold was bought by the
Bank yesterday. _ _ _

The Velocidade has arrived from Otago, New
Zealand, with 26,0001. in gold ; and the Para,
from Alexandria, with 6,520/. The steamer Ceylon
will take to-day only 1,8551. in specie for the East.
The bar silver by the West India packet was sold
yesterday for the continent at ss. op. per ounce,
showing no change.
The letters from Mexico report a better feeling
in commercial erclee, and takes somewhat hopeful
view of the future. A loan which had been raised
amongst the merchants by General Porfirio Diaz,
so that he might satisfy his troops, bad been punc-
tually repaid. The President Juarez had arrived
in the capital, and a condueta bad left for Vera
Cruz with about one million of dollars, or 200,0001.
This amount, together 'with a considerable sum
despatched from Mazatlan by her Majesty's ship
Mutine, is expected to reach Southampton by the
steamer due towards the end of the present month.
A well-informed correspondent from New York
states that traffic arrangements are in progress for
connecting the Hudson River, Haarlem, New York
Central, Michigan Central, and two other railways
farther west, with the Great Western of Canada,
so that a continuous line will be made for the
through conveyance of passenger; without change
o: carriage. The latter company will especially
benefit by the aeoption of this plan, and a strong
competition is expected to be thereby raised against
the Erie Railway. With regard to Cm harvest in
the United States it is observed

The crops throughout the country are unusually 6ne,
giving promise of cheap food here and with you, and the
railways must do an immense business this fall.
At a meeting yesterday of the proprietors of the
Bank of Australasia the directors' report was
adopted. The distribution will be at the rate of
124 per cent. per annum, and will be payable, frre
of income tax, on the 15th October next.
A meeting of the British and Californian
Banking Company was ;ield yesterday, when a state-
ment with reference to the liquick.tion of the affairs
of the undertaking was presented, showing a
balance of 4,0001. for rppropriation. The sum of
61. !Os. has been returned, out of 71. 10s. paid up.
The trans'er books of the Telegraph Construc-
tion and Maintenance Company (Limited) will be
closed from the 27th to 30th inst., preparatory to
the payment of an interim di eidend for the half-
year ending the June last.
The South Eastern Railway traffic return shows
this week an increase of 3,3961. over last year, and
the Loudon, Brighton, and South Coast an in-
crease of 2,638/.
The tratjc return of the Grand Trunk Railway
of Canada for the week ending the 3rd inst.
shows a decrease of 2,5221. compared with the
col resnording period of 1866.
The traffic receipts on the Atlantic and Great
Western Railway for the third week in July
amounted to 104542 dols., against 139,608 dols.
in the corresponoling period of last year, show-
ing a decrease of 35,066'd015.
The cretutors o. the London and Provincial
Starch Cow nan, (Limited) are to send their claims
to Mr. A. A. James (of the firm of Messrs. Ed-
wards, James, and Stone), the official liquidator,
by the 10th dry of October, the Bth of November
having been appo;n:ed by Vice-Chancellor Wood
to adjudicate thereon.
With reference to the wine trade, Mr. F. W.
Cosens reports :
Vir gage proved.' generally ale not reported very hope-
ful from either-Frar ce, Spain, or Portugal : from France
especially the advises are very unsatisfactory, ands redused
crop can, under the most prop'tious circumstances, only be
expected. From Portugal the latest advice" are more
favourable, and the "odium," which has .p.,a
. widely
was disappearing, consequent upon the judicious and
timely application of sulphur. From Spain the crop is
reported short, but it was expected that the quality gene-
rally would be a fair aversge. The present is always a dull
period of the year, as far as orders for importation are
concerned, dealers preferring to wait the result of the