The Express.
London, England, 1866-07-30 00:00:00

14&M
liguLa

MONEY MARKET.-(THIS DAY.)

Owl o'Ciuos.
The amount of business in the stock and slime
markets is limited to-day, and very few chariges
have occurred in prices. The tone generally is
rather dull, notwithstanding the satisfactory tenor

of the news from abroad and the prospect of
an early reduction in the Bank of England
rate of discount. The flatness observable may
be chiefly ascribed to the commencement
of the holiday season. Attention is also
directed at the moment to the fortnightly settle-
ment, which will be completed to-morrow. The
English funds have declined * per cent. Some of
the English railways exhibit an advance, but the
present quotations are for the new sooousrkand•
therefore include the rates of "continuation.'
Foreign bonds and banking and financial shares
are inactive.

The discount market is extremely quiet to-day,
and the rate for the best paper is 1 to 2 per cent.
below that charged at the Bank of England.
Consols are now quoted 881 to for money,
and 881 to I for the account (August 9).
The foreign stock market is quiet, and' prices are
unaltered, with the exception of a rise
of 1 per cent. in Turkish of 1865, Spa-
nish Certificates, and Mexican. Turkish Bonds of
1862 are now quoted 51 to 53, ex div.; dittoof 1865,
271 to 281; Greek, 111 to 12 ; Spanish Passive, 19/
to 201; ditto Certificates, 14/ to 151 ; Italian, 1861,
521 to t ; Brazilian scrip, 3to 21 dis. ; and Mex-
ican, 171 to /.
American securities are quiet. 5-20 Bonds are
quoted 691 to ; Erie Railway shares, 41 to 1;
and Illinois Central, 77 to 1, being per cent. lower.
International Financial shares are now quoted
1f to 11 dis. ; London Financial, 121 to Ilk dia. ;
General Credit, If to 11 dia. ; Credit Foncier,
n to 31 dis., ex div. (81. paid); and National Dis-
count, 8 to 1 prem.
The Seine, from the West Indies, has brought
467,0001. in specie.

HALF-PAST THRZIS o'CLoox.
Consols remain dull, at 881 to 1 for money, and
881 to i for the account.
Aboutl2o,oool. in gold has bean sent into the
Bank, including 60,000 sovereigns from the Conti-
nent.

At Paris this morning the Three per Ceni
Rentes opened at 69, being per cent. better.
In consequence of the severe restrictions which
the state of the money market has lately placed
upon business, not merely the supply but
the actual creation of mercantile bills has been
checked, and this at a time when, owing to the
satisfactory commencement of the harvest, the in-
creased firmness of the exchanges, the diminution
in the demand for gold for export, the abso-
lute cessation of the demand for silver for
the East, and the fall in the value of money abroad,
there is a growing disposition to let out money.
Under these circumstances there is a strong belief
that the long expected fall in the Bank rate of dis-
count will not be deferred beyond Thursday next.
The only question discussed seems to be as to whe-
ther the reduction will be 1 or 2 per cent. The
directors will probably move with caution, but the
moral effect, both at home and abroad, of a lower-
ing of the rate by only 1 per cent. would be great.
About 38,000 sovereigns were withdrawn from
the Bank on Saturday for Belgium. _ .

A telegram from Calcutta states that the rate of
discount has again been reduced 2 percent., making
a reduction of 4 per cent. since the sth July.
An appeal against the order made on Tuesday
last by Vice-Chanoellor Stuart, appointing one of
the creditors, together with Mr. Alfred A. James,
of the firm of Edwards, James, and Co., official
liquidators of the International Contract Company
(Limited), was heard on Saturday by the Lord Chan-
cellor and dismissed with costs. _

The Indian Railway Companies are still free bor-
rowers. The East Indian Railway Company an-
notuice that they are prepared to receive applica-
tions for debentures at par for five years from the
9th of August next, renewable at the option of the
holder for a second term of five years, convertible
into stock and bearing interest at the rate of 5 per
cent. per annum, which will be payable by coupon
at the Bank of England half-yearly. Payment of
both principal and interest is guaranteed by the
Secretary of State for India in Council.
Subjoined is a statement (from Mr. Slaughter's
11-..rlity List) of the railway calls falling due m the
month of August. The total is above the average :
Amount per Share.

Due Already Nuinber
Due In August.l364.Me. Pahl Call of Shares. Amount.
Caledlnian New Stock

I dep. all

Jawed at Llll
Glamor and South
Weatern ZlO shares
issued at 1 pat 1
Great southern of India

21 2 15 0

80,000

--- •
ft per cent. oharea. rr
Metro',"Nan Extenvon 2
Midland New aln

12 E 0 0 17,500
8 2 0 0 100,000
6 9 J 0 118,913

Total In Angina

£1,430,350

Total In eight month/ of ltiOn

At a meeting of the directors of the Illinois
Central Railroad Company, held at New York on
the 17th inst., it was resolved :—" That a dividend
of five per cent. in cash, free of government tax,
be paid on the let day of August next, to the
holders of the full paid shares registered on the
20th day of July, and that the transfer books be
closed on the said 20th day of July, and opened ou
the 3rd day of August."
The half-yearly meeting of the Bristol and Exeter
Railway Company is called for the 29th August, at
Bristol.
The directors of the Manchester and Liverpool
District Banking Company have announced that a
half-yearly dividend of 15e. a share, and also a
bonus of ss. a share (both clear of income-tax) will
be payable to the proprietors on the Bth of August.
An extraordinary general meeting of the British
Indian Tea Company (Limited) is called for the
10th of August to confirm the resolution passed at
the meeting on the 20th inst.
The Master of the Rolls proposes on the 7th of
August to make a call of if. per share upon the
contributories of the Mexican and South American
Company.
In preparation for to-morrow's settlement, the
Stock Exchange dealers were on Saturday occupied
with the adjustment of the account. The rates of
" continuation " were generally moderate, but in
the afternoon the charge increased to i per cent. on
Lancashire and Yorkshire Railway stock, and it
was also rather heavy on Metropolitan. Great
Western and Great Eastern stocks, on the contrary,
were scarce for the settlement. The following
shows the terms generally current :
Great Western Railway stock a back. to even
Lancashire and Yorkshire ato A cont.
London and North Western 3-16 to 5-16
Midland to „
Great Northern A
Metropolitan
South Eastern l.l to 3-16
Sheffield
North Eastern—Berwick A to 911
North Eastern—York
North British
Great Eastern a back. to even
Grand Trunk of Canada a
to 3.16 cont.
Great Western of Canada
Erie
Illinois Central, paid rep
Luxembourgs to 10 per tient.
Lonsbardo-Yenetian
Alliance Bank Ato A coat.
General Credit 3d. to 9d. „
International Financial 2d. to M. „
Italian 5 per Cont. 146 to A „
Mexican
Spanish Passive l-16 to
Ditto Certificates
Turkish 1865 Loan l.lB to a „
1; cited States 5-22 Bonds