The Express.
London, England, 1866-07-19 00:00:00

19, .1.866.

MONEY MARKET.-(THIS DAY.)

ONS o'Owca.
The amount of business in public securities to-
day is not large, but the general tendency of prices
is rather more favourable. Consols continue in

demand, and exhibit a fresh rise of 1-16 per cent.
It is stated that the recent important advance in the
funds was chiefly caused by a purchase to the ex-

tent of 500,0001. on account of a leading joint
stock bank. Foreign stocks, British rail-
ways, and banking and financial shares
are also better in several cases. It is anti-
cipated that peace will soon be announced on
the Continent, and that the demand for geld for
exportatien will diminish during the next few
days, owing to a revival of confidence amongst
foreigners with respect to our commercial position.
The directors of the Bank of England met this
morning, and, after a short discussion, separated
without making nay alteration in the rate of dis-
count. This announcement has not caused any
clisapppointment, no change having been expected
to-day.

There is a fair demand for money to-day, and a
good supply. The general rate for bills is 9to
per cent. The charge in the Stock Exchange for
short loans on English government securities is 6
per cent.

Consols are now quoted 88 to 4 for money,
and 84 to for the account (August 9).
Foreign stocks are firm, and a rise, ranging from
to per cent. has taken place in Turkish of 1865,
Spanish Passive, Italian of 1861, Brazilian scrip,
and Mexican. Turkish Bonds of 1862 are now
quoted 50 to 52, ez div. ; ditto of 1865, 27 to ;
Greek, 11 to 12 ; Spanish Passive, 191 to 20; ditto
Certificates, 154 to ; Italian, 1861, 521 to 534,
ex div. ; Brazilian scrip, 3 to 2 dis. ; and Mexican,
154 to I.
United States 5-20 bonds and Erie Railway
shares are unchanged, at 69 to 4 and 424 to 43,
respectively, but Illinois Central have improved
per oent.—viz., to 771 to 784.
International Financial shares are now quoted
14 to 1i dis. ; London Financial, 114 to 104 dia. ;
General Credit, 11 to 14 clis. ; Crest Fonder,
to ; and National Discount, 84 to
prom.

It affords an illustration of the capricious in-
fluences to which prices are often subjected in
the Stock Exchange, that rumours of the financial
difficulties of one or two of the railways have lately
been held sufficient to depress the stocks of some of
the most solid companies in the kingdom—com-
panies whose credit is perfectly unimpeachable.
About 42,0001. in bar gold was taken out of the
Bank yesterday for Paris, while 15,000 sovereigns
from Alexandria were sent in. The operations of
the week comprise 101,0001. bought, and 270,0001.
withdrawn.
The City of Beaton, from New York, has brought
13,0001. in specie.
In the absence of inquiry for the East and the
continent, the market for bar silver was again very
flat yesterday, and a further fractional reduction
took place in the price, viz., to ss. lid. per ounce.
Mexican dollars were also lower, at 4s. llid.
The bidding' for government hills on India
took place yesterday at the Bank of England. The
proportions allotted were : To Calcutta,
10,27,000 rs. ; to Madras, 50,000 rs. ; and to
Bombay, 20,00 rs. The minimum price was as
before, viz., Is. 10d. on Calcutta and Madras, and
ls. 100. on Bombay, at which rates allotments
were made in full. These results show that the
demand for remittance to India is still languid.
Out of atotal of 350,0001. of bills offered yesterday,
only 109,7001. have been sold.
A deputation from the Glasgow Chamber of Com-
merce had an interview yesterday afternoon with the
Chancellor of the Exchequer, with reference to the
working of the Bank Act, and the great damage
inflicted upon trade by the existing high rate of
discount. After attentively listening to the views
of the deputation, Mr. Disraeli is understood to
have stated that the government will not oppose
the appointment of a commission to inquire fully
into the matter.
The accounts of the tone of public feeling at
Birmingham have become more satisfactory, and it
would appear that—apart from the losses of indi-
viduals—the effects of the stoppage of the Bir-
mingham Banking Company are passing away.
A meeting of the creditors of Mr. A. Barron
(trading as William Rattray and Co.), of London and
Barbadoes, who failed last month, was held yester-
day. The balance-sheet, prepared by Mr. White,
the accountant, states the liabilities at 59,6481.
Bs. 4d., and the assets at 53,1271. 15s. Bd., show-
ing a deficiency of 6,5201. 12s. Bd. A resolution,
expressing sympathy with the firm and agreeing to
a liquidation under a deed of inspection, was
carried unanimously.
The annual general meeting of the New Zealand
Trust and Loan Company was hold yesterday. The
report stated that the net profits for the year
reached 8,5021. 14s. 3d. The amount which- the
directors found to be available for disposal on the
31st December last enabled them to pay an interim
dividend of 2s. per share on the 20,000
shares of the company, to write off the re-
mainder of the preliminary expenses, a large
portion of the expenses of the debenture
issue, and to place a sum of 5001. as the commence-
ment of a reserve fund. Allowing for these pay-
ments, there now remains a balance of undivided
profits of 3,9261 16e. 3d., which was appropriated
as follows :—To payment of dividend of 2s. per
share (making, with the dividend of like amount
paid in February last, 10 per cent. for the year),
2,0001. ; to reserve fund, 1,5001. ; and to further
reduction of expenses of the debenture issue, 3001. ;
leaving a balance of 1261. 16s. 3d. to be carried to
the next account.
The London and North Western Railway traffic
return shows this week an increase of 3,7131. over
last year ' • the Midland an increase of 3,6511. ; the
Great Eastern an increase of 113/. ; the Great
Northern an increase of 7151. ; the Great Western
an increase of 4,8681. ; and the London and South
Western an increase of 2701.
The traffic earnings of the Great Western Rail-
way of Canada for the week ending July 6 were
10,9491. 11s. 10d., against 10,6561. 10s. 9d. in the
corresponding period of 1865, showing an increase
of 2931. le. Id.
The half-yearly meeting of proprietors of the
London and County Bank is called for the 2nd of
August.
An extraordinary general meeting of shareholders
of the Alliance Bank (Limited) will take place on
the 2nd August, to confirm a resolution passed at
the meeting on the 13th inst., repealing the exist-
ing rules and regulations of the company.
The
oannupalany is
meeticongnovfenthedo
the Australian ianA
Agricul-
tural cm 31st
when a dividend will be recommended.
The Northern Assam Company preparatory to
their meeting, convened for Wednesday, the 25th
inst., have issued a full report, showing the steps
taken to develop the property lately purchased
from the original Assam Company, and their other
estates.
The Flop and Malt Exchange and Warehouse
Company (Limited) announce that warrants for
interest at the rate of 6 per cent. per annum, due
the 20th inst., will be forwarded on that day to the
registered holders of the company's shares, with
not less than Si. paid, in accordance with clause
96 of the articles of association.
The half-yearly meeting of the Electric and In-
ternational Telegraph Company is called for the
Bth of Auguid.
The hatf-yearly meeting of the Fornetreet Ware-
house Company (Limited) is called for the 27th
inst., when a dividend is to be declared.
Te second ordinary general 'meeting of share-
holders in Day and Son (Limited) is convened for
the 27th inst., for the purpose of declaring a
dividend.