The Express.
London, England, 1867-09-09 00:00:00

MONEY MARKET.-(THIS DAY.

01111 OtILUOY.

Dulness is still the characteristic of the stock
markets. The transactions are upon a very
limited scale, but they consist mostly of sales,
and prices have accordingly given way in a few
cases. Attention is principally directed to the
monthly settlement in the English funds, which
will be completed to-morrow. The rate for
continuing speculative operations for a rise
to the next account is still about per
cent. per annum. Consols are fiat, and have
declined I per cent., but most of the
British railway and foreign stocks are
without variation. Banking and financial
shares are almost entirely neglected. Bank of
England stock has been dealt in this morning at
248, showing a fall of fully 12 per cent., compared
with the prices lately current.

The demand for discount is extremely moderate,
land the supply of money is greatly in excess of the
current requirements. The rate of the best paper
is unaltered, at 11 to 11 per cent. Loans for a few
days, on English government securities, are offered
in the Stock Exchange at 14 per cent. per annum.
Consols are quoted 944 to 4 for money and
to-morrow's settlement, and 944 to f for the Bth
Oct. The Three per Cents. Reduced and New
Three per Cents. are called 93 to 1, ex div.
There is very little business in railway securities,
and the prices exhibit no variation of import-
' ance. Annexed are the quotations :—Metropolitan,
1241 to 4, ex div. ; Great Western, 47/ to 1 ;
London and North Western, 114 to 1, ex div ;
Midland, 119/ to 4, ex div. ; Lancashire and
Yorkshire, 1261 to 1271, ex div. ; Caledonian,
1071 to 1084 ; South Eastern, 681 to 3, ex div. ;
Great Eastern, 301 to ; Great Northern,
1124 to 1131, ex div. ; ditto A, 118 to 4, ex div. ;
London, Chatham. and Dover, 18 to ; North
British, 304 to 3l# ; and Brighton, 51 to 4.
Turkish Bonds of 1862 are inquired for, and
have risen per cent., the present price being
591 to 601. Spanish Certificates are 1 better, at
151 to 161, while Italian of 1861 have declined
to the like extent, viz., to 481 to 491. Turkish of
1865 are called 314 to # ; Greek, 131 to 141 ;
Spanish Passive, 191 to 20 ; Chili= scrip, 11 to
Of dia. ; Egyptian, 1864, 83/ to 861 ; and
Mexican, 15# to p.

Bank share; are inactive, but Alliance have ex-
perienced a fresh rise of 10.., viz., to 11 to 10 dia.
London and Westminster are quoted 70 to 71;
Union of London, ni to 38} ; Chartered Mer-
cantile of India, 30 to 31; and London and County,
156 to 57.

Financial shares are quoted the same as on
Saturday, u follows :—lnternational, 21 to
dis. ; London, 23 to 21 dis. ; General Credit,
21 to 21 dis. ; and Credit Foncier, 5 to 5} dis.
United States 5-20 are without variation, at 731
to If ; but Erie and Illinois Central railway shares
are f per cent. lower, at 44} to 45 and 77 to
respectively.

Atlantic Telegraph shares are quiet. Anglo-
Amerimn are called 16/) to I, and Atlantic Tele-
graph Eight per Cent. Preference, 3* to
The half-yearly meeting of the Mutual Tontine
(Westminster Chambers) Association (Limited),
will be held on the 30th inst.

ItALF-PAST TRUE o'CLocs.
Consols remain flat, at 94i to for money, and
941 to 1 for the account.

About 4,0001. in gold has been sent into the
Bank.

At Paris this morning the Three per Cent. Routes
opened at 69fr. 70c., showing no change.
The directors of the Agra Bank have issued a
report to the shareholders, of which the following
are the principal passages :
_ _

The success which has attended upon the business since
its re-opening, both in London and at the branches, has
been in all respects most gratifying. The result of its
operations during that period Ina been such as would ad-
mit of the payment of • dividend to the A shareholders,
who, in accordance with the terms of the resusci-
tation, am alone at present entitled to participate in
any immediate distribution of profits. Linder these
circumstances it might be warranted that they should,
according to old practice, and as they hope to do here.
after, declare a half year's interim dividend, but
after mature deliberation—considering the fact that
the Indian branches re-opened for business in
the beginning of March, so that up to the 30th
June they had only been in practical working about four
months—considering likewise that subsequent to the re-
ope¢mg, both at home and abroad, some time was necessa-
rily taken up in re-organizing and developing the business
attar its temporary suspension—the directors have come
to the conclusion that it will not be expected that they
should, on the present occasion, divide the profits which
have been realised ; but that they will act more in accord-
ance with the wishes and judgment of their pro-
prietary by tittering a declaration of dividend until the Re-
counts have been made up to the end of the
year The iostalment of the new, or A capital of the
bank, which was payable on the 15th July last,
has been met with great punctuality, and a considerable
portion of the next and final instalment, payable
on the 15th January, 18604, has been paid up in advance.
The directors would avail themselves of this opportunity
to state, with reference to the liabilities and assets of the
late bank, that, in addition to the 10s. in the pound, to-
gether with all claims not exceeding 1001., which had been
paid with interest when their previous report was issued
to April, they have been enabled to realise the latter in
ample time, not only to provide, as they fall due, for the
payment of the two subsequentinstalmentsfirst maturing to
creditors in this country, but also to anticipate these pay-
ments. In the course of the month of May they were in
funds out of the amets to pay the promissory notes due on
the 15th July last, representing Is. in the pound with
interest ; and accordingly, on the 31st of that month I May),
they announced that they were prepared to discharge the
same on application, less the interest accruing upon the
notes to the date on which they were payable. A few
weeks later, they were able to make provision, also out of
the assets, for the promissory notes due on the 15th
October, representing 2s. in the pound with interest.
At the Indian branches the payment of the 15th July
instalment was likewise anticipated, and a similar course
will be adopted there in respect to that of the 15th
October. This completes a payment of 15e. in the
pound, with interest thereon at five per cent. In
addition to these financial erraagernents, the directors
have to state that they have discharged in full, with in-
terest at the same rate as above, all the debts of the Aus-
tralian, China, and Paris branches, amounting, in the
aggregate, to a lale sum, with the object of economising
the heavy expenditure unavoidable in maintaining these
establishments, even for purposes of liquidation only.
With respect to the promissory notes representing the re-
maining instalments of 2s. CA. in the pound each, due re-
spectively in London and India on the 15th March and
lath July, 1868, it will be gratifying to the shareholders
to know that already funds are on hand from the old
'nets which will, to a great extent, provide for the former
of these payments, and the directors have no doubt they
will soon be in a position to anticipate the discharge of the
promissory notes in question. With regard to the ulti-
mate outturn, and the surplus assets which will remain to
the old shareholders, the directors cannot yet venture to
speak with precision. If the remaining assets, however,
work out as satisfactorily as they have reason to hope,
under good management, they look to the result confirm-
ing former anticipations.
Annexed is a communication on the altars of
the Italian Irrigation Company :