The Express.
London, England, 1867-12-03 00:00:00

MONEY MARKET.-(TELIE DAY.)

011 o'Ouxii.

The stock markets are generally rather firm
to-day, and the changes in prices, with a
few exceptions, are in an upward direction.
Purchases have been made to a moderate
extent upon the more satisfactory state of
political affairs, the absence of any unfavourable
announcement with regard to the movements of
the Fenian, and the fresh reduction reported yes-
terday in the corn market. Consols show an
improvement of 1-16 per cent. Arrangements
for the fortnightly settlement on Thursday in
the English funds have already commenced, and
lead to a belief that the transactions for a rise and
fall during the past month have been about evenly
balanced. Foreign bonds, banking shares, and
colonial government debentures are inquired for,
and better in several cases, but a few of the
home railway stock' have slightly receded. The supply
of colonial government securities during the next
few months is expected to be large, owing to the
evident favour with which the public regard them.
The New South Wales loan will probably be soon
introduced, but it is questioned whether applica-
tions will be invited for the whole amount,
3,000,0001., at one time.
There is a fair demand for moneyto-day, and no
transactions are reported in choice three months'
bills below 19 per cent. In the Stock Exchange
loans for a few days on English government securi-
ties are obtainable at 19 per cent.
Consols are quoted 939 to 9 ex div., both for
money and next Thursday's settlement. The Three
per Cents. Reduced and New Three per Ceuta. are
at 921 to 93.
In the railway market the transactions exhibit a
slight preponderance of sales, and a reduction of 1
to 9 per cent. has occurred in Metropolitan,
Caledonian, and Brighton stocks. Annexed are
the prices :—Metropolitan, 119 to 9 ; Great West-
ern, 449 to 1 ; London and North Western'
1131 to 1141 ; Midland, 1111 to 112 ; Lancashire
and Yorkshire, 1221 to 123 ; Caledonian, 739
to 74 ; South Eastern, 679 to 1 ; Great Eastern,
30} to 9; Great Northern, 106 to 107 ; ditto A,
1109 to 9; London, Chatham, and Dover, 199 to
9 ; North British, 321 to 331 ; Brighton, 511
to 52 ; Berwick, 999 to 1 ; and York and North
Midland, 93} to 94}.
Spanish Passive Bonds are in active demand,
and have advanced 1 per cent. The New Three
per Cents have risen 9, and the Committee's
Certificates, 9 ; but Italian of 1861 have de-
clined 9. Subjoined are the quotations :
Turkish of 1862, 62 to 63; ditto of 1865, 339
to 1 ; Greek, 13 to 9 ; Spanish Passive, 231 to 26 ;
ditto New Three per Cents., 36 to 9 ; ditto
Certificates, 199 to 9 ; Italian of 1861, 469 to
9'; Egyptian, 859 to 869 ; and Mexican, 16 to 9.
United States 5-20 Bonds are in good demand,
and have risen 9 per cent., viz., to 719 to 9, owing'
to the fresh decline reported this morning in the
premium on gold at New York. Illinois Central
Railway shares have advanced 1 per cent., the
present price being 899 to 909 ; but Erie are 1111-
changed at 479 to 489.
Anglo-American Telegraph shares are steady, at
189 to 9 ; and Atlantic Telegraph Eight per Cent.
Preference at 4 to 41.
Bank shares still meet with inquiry. London
and Westminster are at 69 to 71 ; Union of Lon-
don, 34} ,o 359, being 10s. better ; Alliance, 115 to
10} dia. ; Imperial Ottoman, 9 to 9 dia. ; Chartered
Mercantile of India, 294 to 305 ; and Oriental
Corporation, 43 to 44.
Financial shares present no change. General
Credit, 21 to 2 dis. ; International Financial
29 to 21 dia. ; London, 24 to 23 dia. ; and
Credit Fonder, 69 to 69 dia.

HAIM-PAT ONZ O'CLOCK.

The English funds have receded 1 per cent.
since 1 o'clock, the present price being 931 to 1,
ex div., both for money and next Thursday's
settlement. Some of the foreign bonds, including
Spanish, are also somewhat worse, but several of
the railway securities have improved. Caledonian
stock has advanced to 741 to I.
It appears from a memorandum from the com-
mittee of Venezuelan bondholders that the appeal
lately made by that sbody to the British govern-
ment for redress of the wrongs committed against
them by the government of Venezuela has met
with an unfavourable answer. It is to be
feared that this decision will have the effect of
confirming the Venezuelans in their contumacy
and financial shamelessleas ; but we would fain

hope that there is no other government in the
world clishoneat enough to avail itself of the im-
punity which seems likely to be enjoyed in this
flagrant instance.
About 59,0001. in bar f for the continent,
and 2,000 sovereigns for Egypt, were withdrawn
from the Bank yesterday, while 10,000 sovereigns
fronißrazil were sent in.

The Agent-General for the Government of South
Australia has given notice that tenders for bonds,
to the amount of 140,5001., will be received at the
South Australian Banking Company's office, up to
noon of Tuesday, the 10th inst., when the tenders
will be publicly opened, and the minimum de-
clared. Should the tenders exceed the amount re-
quired, a pro rata distribution will be made. The
bonds are to be issued in sums of 1,0001., 5001., and
1001. each, having from thirty to forty-one years to
run, and bearing interest at the rate of 6 per cent.,
payable in London by coupons on the Ist July and
Ist January in each year. The money ia required
to carry out the objects of the "Main Roads Con-
struction Act," and. the " Port Wakefield Tramway '
Loan Act." Five per cent. is to be paid on allot-
ment, and the balance on the 7th January, 1868.
The bonded debt of South Australia (including the
present issue) amounts to 1,168,1001., and is
secured on the general revenue, which last year '
was nearly equal to the total indebtedness of the
State.
It is said that the bill of the Caledonian Railway
Company, of which notice has already been given,
will apply for powers to create not less than
1,000,0001. sterling of additional capital ; and it is
presumed that this issue will take place in the form
of ordinary stock, to be put out at such price as it
may be found n to fix. In matters of this
kind it would seeme gat the example set by the
Brighton Company is likely to be adopted, as pre- '
senting at once the most feasible plan, and the one '
least likely to act injuriously upon existing inte-
rests. As to the impolicy of adding yet further
(were such a course possible, in the present state of
the market) to the vast weight of preferential
charges by which the ordinary stock of this, as of
so many other railways, is being crushed, there can
scarcely be two opinions. It is said, however, that
financial obligations of large amount will have to be
met or arranged by the Caledonian Company in
January next, and, as this will be some months before
any such bill can be passed, the more curiosity is felt
as to the plan to be adopted. A vast deal of
course depends upon the character of the report
from the committee of investigation, for. in the
event of its being unfavourable, it is hardly pro-
bable that the present directors and other officers
of the company would be allowed to retain their
posts. This, however, is a branch of the subject
into which it would be altogether premature to
enter under existing circumstances.
The South Eastern Railway traffic return shows
this week an increase of 1,6781. over last year, and
the London, Brighton, and South Coast an increase
of 1,3471.
At the half-yearly meeting yesterday of the City
of London Real Property Company, an ad interim