The Express.
London, England, 1867-02-07 00:00:00

THE EXPRESS, THURSDAY EVENING, FEBRUARY 7, 1867.

LATEST SPORTING INTELLIGENCE

(in ELECTRIC TELEGRAPH.)

CARMARTHEN MEETING.-(THIS DAY.) !

I'()I'NTY MEMBERS' STAKK.S.

Four miles.

Ilyti,her. Daisy, Blerrioute, Meerschauiti. Ar
Tr.,pez.., Ears., Hobert Adair, Mulberry, Ballet Girl,
Milford. Wagoner, Aprißs, and Whitehall are here.

LADIES' PLATE. Three miles.
Flyti.her, 124 10Ib ; Sly Fox, 124 ; Bishopton. Ilst ;
St. Nlasininnt, Met I'2lb; Si ite, lOst 10lb ; HaAard,
10st, and Zephyr. lost. All are here.

)1:01'lai MEMBERS' STAKES. Three miler.

. -
Meer,ebautu, 124 101 b ; The Thane, I.2st ; Baswebox,
114 41h : Jack o' Newbury, 1 lit 411) llishopton, I lit 41b ;
F.,:usioner, lest 71b ; The Fawn, lOst 71b ; and Captain,
lost. All are here.

LoNboN AND corNTY BANK.—(THIS DAY.)

The annual meeting of the shareholders wee held
this afternoon at the London Tavern, Mr. Hrcu (..
eniu.l wit., M.P., in the chair.

The following report and balance-sheet were presented :
The director+. in submitting to the propylene... the
A:dance-An-et of the hank for the half-year ending the :14
Inn, tuber Lea, have the pleasure to report that, after
paying all charges and interest to customers, and makiug
ampb• provision for bad timl douhtful debt+, the net
protits somoilit to 161,996/. I:4. This added to 17,44 q.
His. brought forwent from the last Recto' t ,
produces a total of 119,4071. Ils. lid. They recommend
the payment of the usual dividend of 6 per cent., together
with a bonus of x per cent. for the half-year, both free of
income tax, which will absorb 10:1,000/., and leave 14,467/.
lis. Q. to be carried forward -to profit anal loss new ac-
count. The dividend for the whole year 1866, will thus
be 25 per cent. At the meeting in February, 1860, it
was intimated to the proprietors that the directors
proposed to increase the capital of the hank, and at the
meeting in August, 1866, the proprietors' by a resolu-
tion, adopted the recommendation of the directors. It
will be proposed to act upon this resolution (which will
require formal confirmation) by the issue of 12,500 new
share+, to be offered pro rata amongst the proprietors as
they appeared on the register on the 4th instant, the
date when the transfer books of the company were closed,
such shares to be issued at the price of 46 /. each,
being a premium of 901. per share. The total number of
shares will then be 50,000. Full particulars of the issue
will be transmitted by circular to each proprietor. The
directors have to announce the retirement of Edwanl J.
Hutchins, Esq., and William Lee, Esq., M.P., from the
direction, and the election of Hugh C. E. Childers, Esq.,
M.P., and Edward W. T. Hamilton, Esq., M.P.,
in their stead. The directors retiring by rotation
are—Nathaniel Alexander, Esq. Thomas Tyringham
Ilemani, F.sq., and William Nfool Esq. who, being
eligible, offer themselves for re-election. There la a va-
cancy in the anditorship, through the disqualification of
Mr. Robert Emombe, and it is in the power of the meet-
ing to fill this up. The dividend and bonus (together
2/. Itie. per share) free of income tax, will be payable at
the head office, or at any of the branches, on and after
Monday, the 18th instant.

" : To capital paid up, 750,0001. ;
to reserve fund, 250,006/. • ' to amount due by the bank
for customers' balances, do., 12,1157,0001. 12a. Bd. ; to lie-
bilties on acceptances, 1,580,7611. 9s. 2d. ; together,
13,037,71;2/. la. Iod. • to profit and loss balance brought
from last account, 14468/. 16s. 6d.; to gross profit for the
half-year, after making provision for bad and doubt-
ful debts, 319,9.571. 14a. 94. ; together, 337,4; il.
its. 3,1. ; total, 14,975,188/. 13a. 1,1. Cr.: By
crib on hand at bead office, and branches,
1,767,383/. :is. 3d. ; by cult placed at call and at notice,
734,054 W. 335. 7d. ; together, 2,501,4:01. 6s. 10,1. ; by in-
vestmenta, viz., government and guaranteed stocks,
69:,,9!:1.11a. 6d. ; other stocks and securities, 101,899/.
Pd., together, 797,852/.13a. 3d.; by discounted bills, and ad-
vances to customers in town and country, 11,306,492/. 2s. ;
by freehold premises in Lombard-street and Nicholas-lane,
freehold and leasehold property at the branches, with
fixtures and fittings, 176,313/. 12s. Bd. ; by interest paid to
customers, 50,277!. ss. Ild. • by salaries and all other
expenses at head office and branches, including income
tax on profits and salaries, 99,813/. lls. 9d. ; total,
14 975 186/. 13a. ld. . . .

" Profit and Loss Account.—Dr.: To interest paid to
customers, 93,277/.55.11d. ; to expenses, as above, 99,813/.
I is. ;to rebate on bills not due, carried to new account,
21,868/. 2s. Id. ; to dividend, of 6 per cent. for the half-
year, 45.000/. ; to bonus of R per cent., 60,000/.; to balance
carried forward, 14,467/. Ils. lid.; total, 337,426/. llx 3d.
Cr.: By balance brought forward from last account,
17,465/. 16s. fid. ; by gross profit for the half-year, after
making provision for bad and doubtful debts, 319;1-.7/.
145.9.1. ; total, 337,426/. Ile. 3d.
' The eIIAIHMAN, in moving the adoption of the report
and accounts, observed that that was the first time he
had occupied the chair, and he must entreat indulgence.
At the meeting in August last, his colleague in the chair
ermgratulated the shareholders on the state of the hank,
and the manner in which it had passed through the recent
crisis. He had to repeat those congretalatrons, and to
say that the bank never stood n a better posi-
tion a result which was owing in a great de-
gree to the steady confidence and support of
the shareholders. Hardly any of the shares sold last
year belonged to old partners in the concern. (Cheers.)
The amount due from customers' balances showed an in-
crease, and were in fact higher in the aggre-
gate than they had ever been before. (Cheers.)
The acceptances now amounted to 1,500,000/., and he was
happy to say that the bank had lost nothing under that
head. Since the date of the accounts the amount in-
vested in government stock had been increased, and that
was a policy which the board intended to adhere to. The
management while exercising proper discretion hail been
liberal to customers. The gross profit of the half-year,
after making provision for bad and doubtful debts, was
319,000/. This was not quite as much as the amount in
some previous half-years ; but considering the circum-
stances of the last few months, the result announced,
in his opinion, was highly satisfactory. (Hear, hear.)
This time last year the total number of accounts was
; in June, too, it was 48,634, and at Christmas
last it was 50,383, showing an increase of 2,804 in the
last year. He then referred to the proposed increase of
capital from mom% to 1,000,000/.,and expressed his belief
that it would bring additional business and prove beneficial
to the company. He added that the new shares would be
issued in the proportion of one new share to three old ones,
and the issue price would bo 40/. per share. There would
be five payments of 8/. each, extending over two years, and
the first payment would be made on March 30, 1887. Any
shareholder might, if he pleased, pay up in full at once,
and in that ease he would at once share in the dividend
and boon.. (Cheers.)
After a short discretion the report was adopted, and the
meeting terminated with votes of thanks to the directors,
managers, and other officers of the bank.

LION BREWERY (LIMITED).—(THIS DAY.)
This day the ordinary general meeting of share-
holders was held in the Westminster Palace Hotel ; Mr.
TROWFR in the chair.

The report having been taken as read,
The CHAIRMAN, in moving its adoption, congratulated
the meeting on the results which had been obtained. The
report was a faithful and honest transcript of the
transactions of the half-yesur. He said this because
it might give increased confidence to any timid
shareholder* who might be in the company. He
could assure them that they had invested in an honest
and sound concern. They thought it right to devote par-
ticular attention to the town trade, and the result was en
increase of ial per cent. They were not fortunate in ob-
taining any contract., although they had tendered for every
one, he believed. There was a sum of 11,000 f. for divi-
dend and that had been honestly earned. That
would enable them to divide 8 per cent.,
but if they chose to intrude on the amount
of 3,000/. which had been carried forward they could divide
10 per cent. But they preferred to keep that 3,000/. for a
rainy dav if it should oome. (Hear, hear.) The plant and
household property wee in firstrate order. The plant was
estimated at 15,000 f., but it was worth much more. The
article they manufactured gave satisfaction to all their cue-
tomers. He believed the property was of more value than
when they took to it.
The report, after a few remarks from Mr. White on the
expenses of working, which were answered by the chair-
man, was adopted.
A revolution author: sing a dividend at the rate of 8
per cent. free of income tax, after providing 6 per Dent.
interest on the preference *bares, was adopted.
Mr. Hart was re-elected auditor.
Mr. Trower and Mr. Whittingstall were re-elected
directors.

The CHAIRMAN said that the dividend would be ready
on the 14th inst., and asked the shareholders whether
they would vote a sum of money towards the erection of
the Smalley wing of the Licensed Victuallers' Society.
Mr. C..x thought it would be very advisable to vote a
sum of money for this purpose, and moved that a sum of
50 guinea. be voted to the asylum, which was adopted.
Votes of thanks to the chairman and Mr. Howell, the
manager, terminated the proceedings.

THE FIRf4T AND LAST INN IN ENGLAND. —The
proprietor of the famous " First sad Lest Inn in England"
(which is a mile off at Sennen), has built • new hotel at
Land's End. The visitor may generally find fair accommo-
dation at it during the summer months. We were there
in July, a few days after the Great Eastern with the cable
(now prosperously laid) had passed by. The visitors' book
is full of original entries, people becoming unrestrained in
their fun in proportion as this inn is removed from civi-
lisation. One party stated themselves in it to be " poor
lunatics travelling with their keepers for change of air."
We add a portion of their testimonial to show the slang
of the period :—" We can testify to the elasticity of the
bed-rooms, for, in one small room, five poor unfortunates
bung out, and one of them had room to snore. ''Joke'
and skilly• as good as unannounced pauper casuals have
any right to expect. Landlord, • brick did not come
down in time to give us our bill P.S.—Bill came At the
last moment."— racer's Mayezioe for February.

MARE LISTS.-(THIS DAY.)

ONE OVIOXIIL
In the railway market to-day the chief change is
a fall of 2 per cent. in London, Brighton, and
South Coast stock, upon the notification of the
dividend. Great Western, London and North
Western, Midland, South Eastern, and Great
Northern A have also declined Sto ; but Metro-
politan and Great Eastern have improved to that
extent.

Metropolitan stock is now quoted 128 to j ;
Great Western, 531 to •• London and North
Western, 122! to 1.23 ; Midland, 123 k to g ; Lan-
cashire and -Yorkshire to 129_ ; South
Eastern, 71!. to ; Great Eastern, 33i to ;
Great Northern, 11/ 9 to 120; ditto A, 128} to
129 •, London, Chatham, and Dover, 121( to ;
and North British, 38 to A.
Llinhardo- Venetian Railway shares are inquired
for, and have improved 2s. lid., the present price
Irving 164 to R. Colonial lines are steady.

mr.DINANY SHALES AND I.TOCIDi.

NI

PAILWATS I 4:3"ag)ed.rdaPn°lB. Sal.Sto 16"ajp.m.

:Mao! amid Enter
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V 89
118 118
40 MI

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Cornwall
Dublin and Baltratlane

4 .
66 88
70 72

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20 Do. do., 180041
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10 ' Do. do., 1864-6
6 . Do. do. 1866
100 'North Staffordshby...
100 N. & & Weslaco Jane
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100 Shropshire Union
1100 South Devon
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100,000
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coiowtAL CiOVYILYMENT BICIJRITIZS.

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II50,00000; BrllishOohn.6p.ct.,lB7l
15/0.61 Do. 1805
.. Gov. 6 p. e., 187744.
Do.6perct,Feb..tAug.
Do. Opera... Mar.
11.155.6081 Do. 5 wet. Jan.a
5854081 Do. &para. Ins.
100,000 Capeof CI Hoped per. 1873
-- Do. d 0.1805-1200
Do. do. 188040
•• .. Do. do. 189041
134,000 D0.5p.c.Ap.40ct.1200
100,000, Cevlou.Nov. 114 6p.ct
100,000 Do. 1874. do..
1.1100,000 Do. 1872 d 0...
206.000 llattrittas 6 per e 1,1873
200,000 Do. 1878
WACO: Do. 1882
200,0001 Do. 1896
MAW Natal. Gov. 6 per cent
vagooo New BranuGov.6perct.
1,125,800; New South Wales Gov.,
6 p. 0ent.,1871 to 1876
3,871,800 Do. Ip. c.lBBB to 1803
860,000 Do.sp.c.r,lial to 1875
180,000 New Zealand Boer oust
1.800 GOO Do. Spur- cad.
600,006 Do. 6 per cent. 1801
104,000. Do. de.ldol J une&Dac
250400' Nova Scotts 6p. x. 1876
1,880.200. Qusanaland Gov. up. et
S.Aust.Gov. 6 p. 0,67-77
751.660' 1878 and upwds.
860,000 Vlc.Gov.fp. c. Jan. July
7,000,000 Do. Op. cf. Aprlldoc

No. I 9h. I

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100,000 1
20,000. 20
16,000, II
I 6 "" I
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100,000 1
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26,400 1
60,006 2
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7,927 6
60,000 4
20,000 5
10,000 20
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10,000 10
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20,000 6
00,000 1
76,0001 1
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No. 18h

Mutes.

(MuniDoe Limited)
Anglo-lireLOold(Lim )'
Australian
'Cape Copper (Wilted)
laipula Silver ( Limited)
Chontaleeo. Mln.,L
Copley* (Limited)
Don Pedro, N. Del ey
Rut Del Rey (Limited)
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Linares (Lted)
iLtudtanian (Limited)
.Panuicillo Copper (L )
Peotarena Gold (Um)
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Poet Phillip
Royal Cohn Copper
Scottish Austral. I.ltn )
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United Mexican Um )
Val Antlgorta Gold
VallanssecaGoid(Lla )
Vancouver Coal (Um )
,Val Swam /Limited)
Waahoe Gold (Limited)
Worthinge=lted.
Yorke P
Yudanamatana

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82 85
83 85
102 196
105 197
106 106
102 101
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104 1116
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10 Do. New
100 Botches Vaughan (L )
6 'Bombe/ Gm (Lholted)
6 , Do New
60 British American Land
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20 British Shipowners
331 Canada Company
10 CsnadianLoan& Inv(L)
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60 Do.
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20 .51adrai Scrim. .0 Canal,
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26 Marine investment (L
20 Manritina land, Be. (L)
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60 , Merchant Shipping (L )
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60 .11MwallIronWorks.
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100 NationalßelamNay.(L)
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PREFERENCE SHARES.
Midland Consolidated 4 per cent. redeemable, 95.

MONEY MARKET.-(THIS DAY.)

REDUCTION IN THE BANK RATE OF

DISCOUNT.

Ows o'Or.oos.

The directors of the Bank of England have to-
day reduced the minimum rate of discount from 3
per cent., at which it was fixed on the 20th De-
cember, to 3. This movement was anticipated,
owing to the low quotations lately current in the
open market, and the absence of withdrawals of
gold for abroad.

The demand for discount has somewhat in-
creased, bills having been kept back in expecta-
tion of a reduction in the rate to-day. The supply
of money, however, is very large, and transactional
have occurred in the best three months' paper at I
per cent., or below the reduced charge at the
Bank. The applications at that establishment are
consequently moderate, and will probably continue
so for some time to come. Short loans are offered
in the Stock Exchange at 1A to 2 percent.
The discount establishments have reduced their
terms for money at call from 2} to 2 per cent , and
at seven to fourteen days' notice from 21 to 21.
The joint-stock banks now allow 2 per cent. for
money on deposit, instead of 21, except that the
London and Westminster give only 1 per cent. for
sums below 500/.

The stock markets opened with a steady appear-
ance this morning, and afterwards improved upon
the announcement of the reduction in the Bank
rate. Consols, in which the monthly settlement is
now in course of completion, are in request, and
have advanced 1 per cent. The rise in several of
the foreign stocks also amounts to it, but Greek and
Turkish bonds of 1865 are 1 to t, better. The
inquiry extends to banking, financial, and
miscellaneous shares. Home railway stocks,
however, are rather dull, the reduction in
the dividends, notwithstanding increased earn-
ings, having caused disappointment. The
dividend of the London, Brighton, and
South Coast Railway Company is just an-
nounced at the rate of 4 per cent. per annum,
against 5 per cent. for the corresponding period of
1865, and the stock has fallen about 2 per cent.
Consols are now quoted 90/ to for money, and
901 to 91 for the account (March 7).
Foreign stocks are in demand. Greek have
advanced 1 per cent. ; Turkish of 1865, II ; ditto
of 1862, ; and Spanish Passive, the Com-
mittee's Certificates, and Chilian scrip 1.
Turkish Bonds of 1862 are quoted fooi to 56;
ditto of 1865, 31} to f ; Greek, 141 to 1 ;
Spanish Passive, 22A to 1 ; ditto Certificates, 141
to; ; Italian of 1861, 541 to ; Mexican, 174 to
; Russian Scrip, If to 2 prem. ; and Chilian
Scrip, to jProm.

United States ii-20 Bonds have declined per
cent., but Erie and Illinois Central Railway shares
are to I better. The present prices are : The
5-20 Bonds, 72i to ; Erie Railway shares, 40 to
41; and Illinois Central, 80i to 81i.
Anglo-American Telegraph and Atlantic Tele-
graph Eight per Cent. Preference shares are steady
at 15} to and 3to I, respectively.
International Financial shares are quoted 2
to dis. ; London Financial, 17.1. to 161., din. ;
General Credit, 2f to 2 dis. ; Credit Fonder,
si to 41 din. ; National Discount, 81 to prem.,
ex div.; and Hudson's Bay, 151 to 16.
The following meetings have just been con-
vened :—London and North Western Railway
Company, for the 22nd inst. ; Anglo-Egyptian
Bank, for the 14th inst. ; British Colonial Steam-
ship Company, for the 25th inst. ; Grosvenor and
West-End Railway Terminus Hotel Company, for
the 22nd inst. ; and the Submarine Telegraph
Company, for the 19th inst.

At the meeting of the shareholders of Simpson's
(Limited), held on the 2nd inst., a dividend of
Se. &I. per share, free of income tax, was de-
clared.

The Bahia Gas Company (Limited) have made a
call of 51. per share, payable on the 26th inst.
A meeting of the bond and &bare holders of the
Italian Irrigation Company is called for the 19th
instant by the London directors as •` the position
asaumcd by the Italian government with regard to
this undertaking, demands the immediate atten-
tion of all concerned."

There were no bullion operations at the Bank
yesterday. The demand for exportation to Paris is
very moderate. During the week 9,000/. has been
sent in from abroad, and 61,090 i. withdrawn for
export.
The steamer Bremen has arrived from New York
with 37,0001. in specie.

- . -
The biddings for bale on India took place yester-
day at the Bank of England. The proportions al-
lotted were : To Calcutta, 17.75.700 rs : to Madras,
2.96.400 rs ; and to Bombay, 15.00.000r5. The.
minimum price was fixed as before, viz., at
Is. 10/d. on all the presidencies. Tenders at
Is. 10d. on Calcutta and Madras will receive in
full, and on Bombay about M per cent. All ten-
ders above that price will receive in full. The de-
mand for the means of remittance to India appears
from these results to have increased a little since
the last bidding.
At the meeting yesterday of the City of London
Brewery Company (Limited), the directors' report
was adopted. It stated the gross profits for the
year 1866, including 1,714/. brought forward, at
57,8011., and the present available balance at
26,5121., and recommended the payment of a
dividend of 4i per cent. to all classes of share-
holders, making, with the appropriation in August
last, a total distribution of 8,1 per cent. for the year.
The annual meeting of the National Provincial
Marine Insurance Company took place yesterday,
when the directors' report was adopted niter a long
discussion and a division. Interest was declared
at the usual rate of 6 per cent. on the paid-up
capital, free of income tax.
At the meeting yesterday of the Electric and In-
ternational Telegraph Company a dividend of 5 per
cent was declared for the half year, free of income
tax, in accordance with the recommendation con-
tained in the directors' report, which was adopted.
Mr. F. N. Micklethwait has been elected deputy-
chairman of the Electric and International Tele-
graph Company, in place of the late Captain
Hursh.
The fourth ordinary general meeting of the Lon-
don and Caledonian Marine Insurance Company
(Limited) is convened for the 19th inst.
The London and North Western Railway traffic
return shows this week an increase of 266/ over
last year ; and the Midland, an increase of 1,5551.
The subjoined report on the market for
American securities is from the circular of Messrs.
Satterthwaite and Co. :
The advancing premium on gold in New York has ope-
rated against the price of United States 9-20 Bonds in
the Loudon market, the decline on the week being about 4
to I Per cent. Illinois shares have been very steady, but
Erie shares have fluctuated between 39 and 404, the price
here being almost entirely ruled by the quotations re-
ceived by telegraph from New York ; they close firm at
:tui to 40. In Atlantic and Great Weste,n Consolidated
Mortgage Bonds a considerable business has bees done
from -:101 :104 to 314 ; they close 31 to I. There is sonic
inquiry for Pennsylvania Second Mortgage Sterling Benda,
from 99 to 90 ; also for Illinois Central Six per Cent.
Bonds, from 83 to $4. The Seven per Cent. Currency
Bonds of this company are in good deniand,from 72 to 73.
From a circular issued by Mr. F. M. Page, it
appears that the total shipments of bullion to the
East during 1866 fell short of those made during
1865, by nearly 4 millions sterling, viz.:—To
Alexandria, decrease in 1866, say
_l million • to
Bombay, ditto, 14 million • to Madras and eal-
cutta, ditto, 1 million ; to bhina and Straits of
Malacca, l million ; net decrease during 1866 com-
pared with 1865, 3/ millions sterling.

The following, on the hide and leather trade, is
from the monthly circular of Messrs. T. J. and T.
Powell, dated yesterday .
_ _

The first month of the year has shown a decided ins
prol emetic in the leather market. Although there has
not been any very peat animation, and no advance is
poises, there has been a steady increase in the demand,
which, with the limited supplies of fresh goods, ocoo,
sinned by the severity of the weather, has reduced the
stocks on hand , as we hope that with the return of
open weather there will be a greater demand for labour,
and consequently an increased consumption of leather as
well as of other ,rticles, it may be fairly expected that a
steady and krill market will be the result. Ran goods
have not shown any important change. The imports at
Australian hides and East India kips have been maunders,
ble, and the stocks of these ..rticles are large ,• a good
average innour.t or husine.s has been done, and the militia
sales went of! briskly at about previous rates. At leaden.
frill yesterday there was no new feature in the markcL
The supply wan generally adequate to the demand, the
chief exception being of English butte, about 2411,
which were tt and very much wanted.

WEDNESDAY SVENING.

Consols. which-closed yesterday at 903 to 3, both
for money and to-morrow's settlement, .opened
this morning at 904 to and closed at 904 to .
For the ith of March the last price was 903 to 4.
The official business report is as follows:—Three
per Cent. Consols, for money, 903, I, ; ditto. for
account, 901, ; Three per Cmts. Reduced,
89; 90, ! • New Three per Cents., 90, 821 ' 801 ;
Bank Stuck. ::51, 49; India Stock, 216 ; • ditto,
Five per Cents., 'Ti3O 7 ; ditto Five per,Cent.
" enfaced " rupee paper, 102 • ditto Debentures,
1021 ; ditto Bon 4 265., 301;. prem.
The India Five per Cent. Stuck was steady. The
5 per cent. rupee paper met with rather more
inquiry.
Foreign stocks were in better demand, and prices
were firmer than for some time past. The in-
quiries were chiefly for the non-speculative descrip-
tions, which are usually little dealt in. Russian
Bonds were in prominent request, and experienced
an advance ranging from ?, to 2 per oent. Turkish,
Egyptian, Buen.e Ayres 6 per cents., Peruvian of
1862, Brazilian of 1865, Italian of 1865, and Vene-
zuelan of 1864 also rose 4 to 1 per cent. • and
Portuguese and Russian of 1866 (includinig the
scrip), 1. On the other hand, Moorish detailed 1
per cent. ; Greek, ; and Italian of 1861, Mee&
can, and Spanish Passive and Certificates, 1.
The saw of the new Chili= loan recovered to
the extent of per cent. closing at Ito 3 prem.
Russian scrip was firm at 11 to 2 prem.