The Express.
London, England, 1867-12-20 00:00:00

MONEY MARKET.-(THIS DAY.)

Oars Ahoor..

The English funds are rather dull to-day, and
have receded 1-16 to per cent. Foreign stocks
are likewise flat, but railway securities are in re-
quest, at an improvement. The recovery has
not been caused by any favourable announce-
ment with respect to the affairs of these
undertakings but by purchases on account of
recent speculators for a fall, who wish to close
their transactions previous to leaving the City for
the Christmas holidays. Very little business has
been recorded in banking, financial, and miscella-
neous shares, and quotations generally are un-
changed. Colonial government debentures meet with
rather more inquiry, the increased distrust of rail-
ways tending to divert attention to these secu-
rities.

The demand for money is moderate, and the
supply good. Choice bills are taken at 1/ per
cent. and in some cues at 11. The quotation for
loans in the Stock Exchange is Ito per cent.
Consols are quoted 924 to }, ex div., for money
and the account (January 7). The Three per Cents.
Reduced and New Three per Cents. aro at 921
to }.
Railway stocks are in demand, and better.
Great Northern A and Metropolitan are in especial
request, and have risen 11 to 11 per cent. respect-
ively. Lancashire and Yorkshire has advanced I ;
Midland and Great Northern (original), / ; South
Eastern, ; London and North Western, and Lon-
don, Chatham, and Dover, 1; and Great Eastern, I.
Annexed are the prices :—Metropolitan, 1111 to
1121; Great Western, 431 to 441 ; London and North
Western, 1121 to 113 ; Midland, 101 to ; Lan-
cashire and Yorkshire, 120 to } ; Caledonian,
741 to ; South Eastern, 66/ to 67/ ; Great
Eastern, 31/ to ; Great Northern, 107 to 108 ;
ditto A, 110} to 111; London, Chatham, and
Dover, 181 to / ; North British, 331 to 1 ;
Brighton, 49 to ; Berwick, 98} to 99} ; and
York and North Midland, 90} to 91}.
The foreign stock market shows dulness, but
prices generally are without change of importance.
Turkish of 1862 are quoted 60 to 61 ; ditto of
1865, 33/ to 3 ; Greek, 123 to 1 ; Spanish Pas-
sive, 251 to 26 ; ditto New Three per Cents., 35k
to 36 ; Italian of 1861, 451 to 1; Egyptian of 1864,
85 to 36 ; and Mexican, 151 to 1.
American securities are steady, at yesterday's
prices. The 5-20 Bonds are at 71/ to 72/ ; Erie
Railway, 491 to 1 ; and Illinois Central, 891. to 1.
_ _

Atlantic Cable shares exhibit no movement.
Anglo-American, 19 to 19} ; and Atlantic Telegraph
Eight per Cent. Preference, 4} to n.
Bank shares present no feature of importance,
apart from a reduction of 1/. in London and West-
minster, the present price being 67 to 69. Union
of London, 36 to 37; Alliance, 14 to 10} die. ;
Imperial Ottoman, 1 to of dis. ; London and
County, 54 to 55 ; and Oriental Corporation, 42
to 43.

In the market for financial shares General
Credit have declined 2s. 6d.—viz., to 2i to 21
dis. ; International Financial are at 21 to 2 dia. ;
London, 23 to 22 dia. ; and Credit Fonder, 0 to
61 dis.
New York advices announce the shipment of a
further sum of 150,0001. in gold for Europe.
_ _ _

The Council of India will receive tender; on the
Ist proximo for bills on Calcutta and Madras to the
amount of 200,0001.

The ordinary general meeting of the National
Discount Company will be held on the 22nd of
January for the declaration of a dividend and other
business.

The Caledonian Railway traffic return shows
this week a decrease of 1,0581., compared with the
corresponding period of 1866.

HALF-PAST ONE O'CLOCK.
Consols are in request, and have improved to
per cent. since 1 o'clock, viz., to 92} to ft ex div.
for money, and 92/ to 1 ex div. for the account.
Some of the English railway stocks have ex-
perienced a fresh advance. Foreign bonds meet
with rather more inquiry.
It is certain that all our railway companies
are adding largely to capital every half-year, and
this means, of course, that they must raise fresh
money, by borrowing or otherwise, as long as that
system shall be persevered in. The shareholding
public now desire to know, and should insist upon
being told without delay, what sum is required by
each company for the next twelve months. For
the directors to withhold such information until
the usual period for the issue of the half-yearly re-
ports would be to play with the interests com-
mitted to their charge, and, perhaps, to sacrifice
the shareholders to hostile speculators. The best
and most conservative course now will be for each
company to say how much it wants immediately,
and for the coming year. The proprietors will
then be better able to judge how their property
stands. Until this step is taken bankers and
money lenders will be slow to lend, and it need
scarcely be pointed out that, should they call in
existing loans, the present difficult position of this
great interest would become still more complicated.
The Delta, from Alexandria, has brought 57,1191.
in specie; the Pennsylvania, from New York,
13,5001.; and the Ethiope, from the West Coast of
Africa, 6,0001.

The steamer Ripon will take to-day 57,698/.
in specie, of which 26,700/. is gold for Alexandria,
290/. gold for Madras, 6,1251. silver for Shanhae,
and 24,5831. silver for Hong Kong. The latter re-
mittance is on government account.

The bar silver by the West India packet was sold
yesterday for the Continent at ss. Ojd. per ounce,
being the same price at that lately current.

The committee appointed by the shareholders
of the Great Eastern Railway Company on the
22nd November have issued their report, and it is
satisfactory to perceive that they are unanimous
in the recommendations put forward for establish-
•

ing "a thoroughly efficient and economical ma-
nagement and a rigorous discipline," and for
rooting out the " elements of discord which have
led to results so disastrous." The new directors
are to be Viscount Cranborne, M.P. ; Mr. E. W.
Watkin M.P. ; Mr. George W. Currie ; Mr. Ro-
bert Stuart,; of Manchester ; Mr. Richard Young,
M.P. for Cambridgeshire ; and Mr. James Chad-
wick, of Manchester. The meeting is to be held
on Friday, the 3rd January.
The Great Western Railway traffic return shows
this week an increase of 4481. over the correspond-
ing period of 1866 ; the Great Northern, an in-
crease of 7921. ; the Great Eastern, a decrease of
722/. ; the London and South Western, a decrease
of 2731. ; the London, Chatham, and Dover, in-
cluding the Metropolitan Extension and branches,
an increase of 1951. ; the Metropolitan Extension,
separately, an increase of 45/. ; the North Eastern,
a decrease of 1,8951. ; the Lancashire and York-
shire, an increase of 9581. ; the Manchester, Shef-
field, and Linoolnahire, a decrease of 568/. ; and
the North British, an increase of 7611.
The directors of the Nerbudda Coal and Iron
Company (Limited) yesterday made a call of 11.
per share (making 81. paid), payable in London by
the 14th of February, and in Calcutta or Bombay
by the 6th of March, 1868.
A meeting was held yesterday of the Aerated
Bread Company (Limited), when the net , profit
for the half-year was stated al 2,8351., and a divi-
dend was declared at the rate of 6 per cent. per
annum.

The eleventh ordinary general meeting of the