The Express.
London, England, 1867-07-02 00:00:00

TO THE PROPRIETORS OF THR GREAT LANTERN RAILWAY

COMPANY.

Groat Eastern Railway, Bishopecate Terminus,
London, lst July, 11167.

The board are under the painful necessity of in-
timating to the shareholders that, in consequence of
the refusal of the Parliamentary Committee to pass the
Finance Bill, and of the pressure for payment
of capital sums owing in respect of land purchases and un-
paid debts, whilst the discredit of railway securities
in the money market has rendered it impossible to
renew debentures—the company have been unable
to provide for the principal of the debentures
falling due, and consequently cannot resist the
intervention of the (Court of Chancery, which has been
sought on the behalf of the holder of an overdue deben-
ture. It is probable, therefore, when this case come, to
be heard before the Court of Chancery, that a Receiver
will be appointed, and until further capital can be raised
the net revenue of the company will have to pass through
the court. The board do not anticipate that this step
will prevent the payment of the interest on the debentures
which will become due on the 15th inst. The net income
of the company, upwards of 900,000/. a year, is far
more than adequate to the payment of interest
upon all leased lines, debentures, and other
debts of the company ; but the capital liabilities
incurred in the manner often explained to the general
meetings can only be met by raising further capital. The
company have called a meeting of preference holders,
to ask their consent to renew in the present
session the application for powers to raise the
necessary capital, and an early opportunity will be taken
of laying before the shareholders, for their consideration,
the plans assented to by the preference holders.
(Signed) C. H. TURNIP, Chairman.
J. B. Owen, Secretary.
It appears that the surplus available for the
sinking fund, to be applied in the current quarter
to the reduction of the National Debt, is 551,0431.
Rumours were current yesterday of the proposed
issue, at an early date, of a new Russian loan, but
met with little credence. They seem to have arisen
through an announcement in the letters from St.
Petersburg—apparently founded on a telegram
received there from Paris—that the Moscow Rail-
way has been purchased by the Grand Russian
Railway Company. Two Russian loans having
been brought out in this country within the last
eight months, it may well be questioned whether a
new one would be subscribed for.
About 65,000/ in gold was bought by the Bank
yesterday.
The City of Washington has arrived from New
York with 11,0001. in gold.
A special general meeting of the shareholders in
the London Joint Stock Bank is called for the 25th I
inst., to consider and confirm resolutions as to the
issue of the remaining 8,000 shares created at the
extraordinary meeting on the 18th August, 1864.
The chief conditions of the proposed issue are as
follows. The premiums are to be carried to the
credit of the guarantee fund :
That the remaining 8,000 shares of the London Joint
Stock Bank created by resolutions of the proprietors in the
1 year 1864 be now issued at 251. per share, being 151. per
share the amount paid up on the existing shares of the
company, and 10/. per share premium. That such shares ,
be in the first instance offered to the shareholders in the
proportion of one new share to every nine shares of which '
on the 25th day of July next they may be the registered
holders, and that any shares not accepted by them be
allotted at the discretion of the directors at not lees than
the Premium above-mentioned. That payment he made
by four instalments as follows, viz.:—at. on the 30th
September, 1867, 5/. on the 31st October, 1867, Si. on the
30th November, 1867, and 101. on the 31st December,lB67.
The prospectus of the Anglo-Indian Telegraph
Company (Limited) is issued, with a proposed
share capital of 1,000,000/., in 50,000 shares of
20/. each, of which 1/. is to be paid on application
and V. on allotment. The present condition of
telegraphic communication with India being un- 1
satisfactory, and it being of importance to bring
about such arrangements that a message may be
transmitted between London and Bombay in six
hours, the present company proposes " to establish, ,
under one control and management in London, a
direct and thoroughly effective line of telegraph
vici Egypt and Aden, to India, with extensions
hereafter to Singapore, China, Japan, and Aus-
tralia."

At an extraordinary meeting of the East Ind'a
Cotton Agency (Limited), held yesterday, the follow-
ing resolutions were carried unanimously : —l.
"'That the company be wound up voluntarily." 2.
" That forthwith, after the confirmation of this and
the preceding resolution, the directors present do
present a petition to the Court of Chancery in the
name of the company, praying that the voluntary
winding up may he continued, subject to the super-
vision of the court."

At the inectiOL!, yemter,l.l%., of the Oriental Hotels
Company (Limited), resolutions were pewit' adopt-
ing the rectors' report, and authonsing them to
raise money on debentures to the extent of 25,000 L
A special general meeting of the South Austra-
lian Banking Company is called for the 12th inst.,
to confirm the resolution passed on the 18th ult.,
authorising the directors to accept a supplemental
charter of incorporation.
It appears that a number of shareholders in the
Ottoman (Sm3riia to Aidin) Railway Company
have formed themselves into a " protection asso-
ciation."

The particulars are published of a number of
debenture bonds of the Submarine Telegraph
Company, which were drawn on the 29th ult., and
will be payable on the Ist September.
The interest due this month on the shares and
obligations of the Dutch Indian Railway Company
is advertised for payment in due course.
The new act re:ative to transactions in bank
shares came into operation yesterday morning, and
at a meeting of the dealers inthe Stock Exchange it
was decided to withhold the closing prices of many
banks from the official lint. In about a dozen in-
stances, however, prices were quoted, and showed
no change compared with those of Saturday. The
act is very unpopular amongst the dealers, who
naturally consider that its operation will be to
restrict speculative transactions.
Messrs. Barings have announced the interest
duo the 13th instant on Grand Russian Railroad
shares.

MONDAY EVRIIING.
Console, which closed on Saturday at 94i to
ex div., for the 10th inst., opened this morning
at the same quotation, and closed at 94i to I.
For money the last price was 94* to I. The
Three per Cents. Reduced and New Three per
Cents. were quoted at 3 o'clock, 93a to 4. The
official business report is as follows :—Three per
Cent. Consols, for money, 944, ex div. ;
ditto, for account, 94i, ex div.; Three per
Cents. Reduced, 93* 1 • New Three per Cents.,
934, ft, 1, ; Bank Stock, 2541, 5, 3 ; India Stock,
shut ; tto, for account, 218, ex div. ; ditto
Five per Cent., MI, ex div. ; ditto Bonds, Ha.
prem.
Indian government secusities were quiet, but
steady.

The March Exchequer Bills were officially
marked 25a. prem., and the June 19s. prem.
The dealings in foreign stocks were upon a
limited scale, and prices generally cloned the same
as on Saturday. Danubian Bonds were heavy, and
fell 2 per cent. Greek (including the coupons)
declined I, and Russian scrip and Turkish Bonds of
1865, 4 ; while Mexican, Spanish Passive, and the
Committee's Certificates improved

MINES.-(27118 DAY.)

Ows °Timm.

Theme is very little business in British mining
shares to-day, and prices generally are without
change. Prince of Wales, Great Vor. East Cara-
don, Great Retallack, Clifford, and North Crofty
have been chiefly dealt in.
Foreign and colonial mining shares are in less
demand, and show a slight reaction in some
instances. The present quotations are as
follows : St. John del Rey, 59 to 60,
ex div. ; Chontales, Ito prem ; Don Pedro,
3i to 4 prem. ; Anglo-Brazilian, 7-16 to 9-16
prem. ; Rossa Grande, to 9-16 ; Frontino and
Bolivia, g to ; Anglo-Italian, g to g prem. ;
and Pestarena, g to tprem.
The liquidators of the Devon Great Maria Con-
solidated Mining Company (Limited) ap-
pointed the 11th inst. to settle the list of con-
tributories.

RAILWAYS.-(THIS DAY.)

Oiri o'CLool.

The railway market continues heavy, and priced
show a fresh fall. Great Eastern stock has de-
clined 1 per cent. ; Brighton, 4 ; and London and
North Western, South Eaatern, and Midland, g.
London and North Western stock is now quoted
112/ to 4; Metropolitan, 1731 too; Great West-
ern, 43 to ; Midland, 1111 to ; Lancashire and
Yorkshire, 1271 to I ; Great Eastern, 26
to I ; South Eastern, 63} to 64 ; Great
Northern, 113 to 115 ; ditto A, eto 112; London,
Chatham, and Dover, 16 to ; North British,
30 to 31; and London, Brighton, and South
Coast, 52 to A.
[For- to-day's Share Lira see page 4.1