The Express.
London, England, 1866-04-11 00:00:00

MONEY MARKET.-(THIS DAY.)

Own o'CLoen.
The dealings in the Stock Exchange are limited,
owing partly to the fortnightly settlement in
shares and foreign stocks, which has just com-
menced, and prices are dull. In connexion with
this arrangement, the failure is announced of
a firm of " jobbers," but the liabilities are under-
stood not to exceed 12,0001. Their difficulties
are stated to have been caused by recent large tran-
saction in the shares of the Joint Stock Discount
Company. The funds have declined 1-16 per cent.
and British railways and foreign stocks, I to
Amongst the latter Italian bonds of 1861 and
Turkish of 1865 are especially heavy. Financial
and discount shares are mostly quoted the same as
yesterday.
The dividend money continues to find its way to
the discount market, and the amount seeking
employment to-clay is accordingly very large, while
the supply of bills is comparatively limited. An
increased number of transactions have, there-
fore, been effected at 52 per cent., or below
the Bank minimum. In the Stock Exchange the
rate for loans from day to day on English Govern-
ment securities has declined to 3 to 4 per cont.,
owing to the extent of the capital on offer.
Consols are now quoted 801 to 3-8 for money,
and 8611 to a for the account (May 9).
Turkish of 1865, Greek, Spanish Passive, and
Italian Bonds of 1861 are flat, and have declined
to it per cent. Brazilian and Mexican are steady.
The prices are as follows :—Greek, 121 to 13} ;
Mexican, 20 to 1; Spanish Passive, 261( to 3-8;
ditto Certificates, 16 to ; Turkish, 1862, 66} to
67 ; ditto, 1865, 34 5-8 to 7-8 ; Brazilian scrip, 3
to 2} die., ex div. ; and Italian, 1861, to 551 to
561.

_
United States 5-20 Bonds, and Erie Railway
shares have receded to per cent., being quoted
71} to 72 and 5411 to 55, respectively. Illinois
Central are steady, at 8071 to 81.
International Financial shares are now quoted
to 3-8 dis. ; General Credit, 1-to 3-8 prem. ;
_ _ _ . .

„ -
London Financial, 41 to 3/ dis.; Imperial Mercan-
tile, 2 3-8 to 4 dia. ; Credit Fonder and Mobilier,
21 to 3-8 prem. ; Overend, Gurney, and Company,
11 to 1 3-8 prem. ; and National Discount, 81 to
/ prem.
In home railways yesterday the chief movement
was a reduction of 4 per cent. in London, Chat-
ham, and Dover Railway stock, caused by the
offer, through influential brokers, of 2,207,300!.
of stock at 271 per cent.
The steamer Mandnigo, from the West Coast of
Africa, has brought 8,000!. in specie.
The tendency of the foreign exchanges is still
unfavourable. The rates were quoted in most
cases yesterday afternoon rather lower than on
Friday, being as follows :
Amsterdam, 3 months, 12.04 to 1 ; ditto, 3 days, ILI7 to
18 ; Ftotterilam, 3 months, 12.04 to 1 ; Antwerp, :3 months,
25.50 to 55 ; Hamburg, ins. hanco, 3 months, 13.91 to $ ;
Paris, 3 days, 25.15 to 224 ; ditto, 3 months, 25.40 to 45 ;
Frankfort-on-the-Maine, 3 months, 1201 to ; Petersburg
per rouble, 3 months, 281 to 9 ; Vienna, eff. flu., 3 months,
10.90 to 11 ; Trieste, ditto. 3 months, 10.90 to 11 ; Madrid,
3 months, 46i to $ ; Cadiz, 3 months, 47$ to it ; Leghorn,
3 months, 25.65 to 70 ; Genoa, 3 months, 25.65 to
70 ; Milan, 3 months, 25.65 to 70 : Naples, months,
25.65 to 70 ; Palermo, 3 months, 25.65 to 70 ; Messina,
3 months, 25.65 to 70 ; Lisbon, 90 days, 51$ to 4; Oporto,
514 to I.
The amount of government bills on India for
which tenders will be received at the Bank of
England on the 18th inst. is rupees 35,00,000
(350,0001.)
The chief clerk of the Master of the Rolls to-day
appointed Mr. R. P. Harding, of the firm of Hard-
ing, Pullein. and Co.' official liquidator of the
Joint Stock Discount Company. An appeal against
this decision, on behalf of the candidates for the
post, is to be hoard before the Master of the Rolls
to-morrow. The appointment, being a very lucra-
tive one, has been keenly contested.
At a meeting yesterday of the creditors of Messrs.
Puget, Bainbridges, and Cu., private bankers,
of St. Paul's-ehurchyard, who stopped payment
nn
the 15th ult., a balance-sheet was presented by
Messrs. Coleman, Ter nand, Youngs and Co., the
accountants, showing liabilities to unsecured cre-
ditors to the amount of 171,026/. ; and to creditors
holding security, 5,000!. The asseteare represented
by cash in hand and bills, 8,0831. 198. 3d., stocks
and shares, 4,500/., and good debtors, 23,8711. ss.
3d., of which 15,7081. has been received since the
date of the failure. The total of reliable assets
thus reach only 36,455/. 4s. 61. ; while the doubt-
ful debtors rank for 16,561/. 3s. ; and the following
items are represented in the ledgers by the amounts
as under :-Westininster Improvement mortgage
and bonds, 12,7951. 16s. Oil. ; less claim thereon,
5,000/. ; further amount due for interest on this
mortgage about, 8,000!. ; Pantslrainiog Quarry,
40,416!. 17s. 4d. ; lease of house St. Paul's-church-
yard, 4791. 2s. Id. It is intimated that the claims
on the several separate estates of the partners will
absorb their separate assets. It will be seen that
upwards of 40,0001. has been sunk in a slate quarry,
but it is stated that it has not been worked iiism a
proper system, and there is some hope that it may
be disposed of. The difficulties of the firm have
been caused by this speculation, and by a 'gradual
decline in their business. During the discussion
which occurred, it was suggested that the partners
should be requested to sign a declaration of in-
solvency, and that a committee of six should be ap-
pointed to investigate, but the general feeling of
the creditors appeared to be in favour of winding
up under inspection, and thus save what little re-
mains in the shape of assets. A resolution to that
effect was accordingly passed. The sum of 3s. in
the pound will be paid to the creditors at once, and
an additional Is. 641. before long, making together
4s. Gd. in the pound. There may be a further slight
distribution, but this is quite uncertain.
Messrs. James Capel and Co. and Messrs. Foster
and Braithwaite announce that they are authorised
to dispose of 2,207,3001. paid-up ordinary stock of
the London, Chatham, and Dover Railway Com-
pany at the low price of 271. 10s. per cent. It
Ls must not be imagined that this represents a
ills I
new issue of stock by the company. The ex-
planation given is that " this stock is at pre-
sent deposited by the owners for advances, and it
is offered at this low price in order to secure its
immediate realization." 31. 10s. per cent. is to '
be paid on application, 41. on allotment, 10!.
on the Bth of May, and 10!. on the Bth of June next.
Upon the completion of the payment on the stock
allotted, it will be transferred, free of expense, into
the name of the purchaser or his nominee. Pend-
ing the completion of the purchase, provisional
scrip is to be issued, representing 100!. and multi-1
ples of 1001. stock. With reference to the position
and prospects of this great railway, there is at-
tached to the prospectus a report made in Novem-
ber, 1864, by Mr. Forbes, the general manager,
from a summary of which it appears that the pro-
spective net earnings in 1868 are estimated as likely
to be sufficient to meet all preference charges, an
to give a dividend on the ordinary stock of
3,000,000/. of 2 per cent., 21 per cent. in 1869, and
3 per cent. in 1870. Stress is also laid upon the
results anticipated from the link line, now coin-
pleted, connecting the London, Chatham, and
Dover Company's system with the Metropolitan
and Great Northern Railways, and from the
ar-
rangementforth evridthiviathioe South
n Easternfoontintalßatraimilwacy Com-
pany
,
has received the sanction of parliament. which
Metropolitan Railway traffic return shows
this week an increase of 1,336/. over last year.
At a court of proprietors of the Bank of England,
held yesterday, Mr. K. L. Holland was re-elect
ed
governor, and Mr. Thomas Hunt deputy governor,
for the year ensuing. This is in the usual course,
it being customary for the governor and deputy
governor to hold office for two years.
nthe9 ofl9thhe
iutkgeonf eßrarlitimitheetongiumobisf the sharecsiledholfdeor
inst. when a dividend will be recommended.
The fifth ordinary general meeting of the