The Express.
London, England, 1866-04-27 00:00:00

MONEY MARKET.-(THIS DAY.)

Ossx o'CLocx.
The stock and share markets are dull to-day,
owing to the uncertainty prevailing with regard to
the future course of European politics. Attention,
however, is partly directed to the settlement of the
fortnightly account, which will be concluded this
afternoon. The funds have risen 1-16 per cent. for
the account, but Turkish and Italian securities con-
tinue depressed, and have again given way. On the
other hand, Spanish Passive Bonds and Certificates
have improved, on the prospect of a settlement.
Engliahrailways and financial shares are unchanged,
with the exception of a fresh reduction of 7s. 6d. in
Imperial Mercantile. Amongst the discount shares,
Overend, Gurney, and Co. are again better.
There is no change in the discount market to-day,
the supply of money being large, and the rate for
the best paper unchanged, at 5 to 6 per cent. The
Bank of England return is regarded as somewhat
'satisfactory.

Amongst the changes in the weekly return of the
Bank of France are an increase of 288,0001. in the
coin and bullion, and of 280,000/. in the bills dis-
counted.

Consols are now quoted 864 to 87 for money, and
87 to for the account (May 9).
Italian Bonds of 1861 continue heavy, and have
declined a per cent. Turkish of 1865 have also re-
ceded 4, but Spanish Passive and Certificates have
improved and respectively. Mexican are also
better. The prices are as follows :—Greek, 124 to 13 ;
Mexican, 204 to ; Spanish Passive, 26 to ;
ditto Certificates, 16 to t ; Turkish, 1862, 65 to
66 ; ditto, 1865, 33t to t ; Brazilian scrip, 3to 24
dis., ex div. ; and Italian, 1861, con to 514.
United States 5-20 Bonds are steady, but Erie
and Illinois Central Railway shares exhibit a slight
decline. The present quotations are as follows :-
5-20 Bonds, 704 to ; Erie Railway shares, 52 to
; and Illinois Central, 80 to 4.
International Financial shares are now quoted
dis. ; General Credit, par to prem. ;
London Financial, 4g to dis. ; Imperial
Mercantile, 314 to dia. ; Credit Fonder and
Mobilier, t to 4 prem., ex div.; Overend,
Gurney, and Company, I to 4 dis. ; and National
Discount, 84 to 4 prem.
The Committee of the Stock Exchange decided
yesterday to close that establishment, according to
custom, on the Ist of May (Tuesday next), the day
fixed for striking the half-yearly balance at the
Bank of England, where the transfer offices
also be shut.

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The steamer Nyzanza will take to-day only
2,060/. in gold, and 51,2501. in silver for Bombay.
With reference to the estate of Messrs. Puget,
Bainbridgea, and Co., the private bankers, who
failed on the 15th of March, it is announced by
Messrs. Coleman, Turquand, Youngs, and Co., the
accountants, that a first dividend of ;Is. in the pound
will be payable to the creditors on Monday next,
the 30th mat., and on Tuesday and Wednesday,
the Ist and 2nd of May.
The Stock Exchange Committee have appointed
the following special settling days :—Anglo-Ame-
rican Telegraph Company (Limited), shares, Wed-
nesday, May 2—to be marked. Scrip representing
paid up ordinary stock of the London, Chatham,
and Dover Railway Company, Thursday, May 3.
The committee have have also ordered the bonds
of the San Paulo Railway Company to be officially
quoted.
The Lancaahire and Yorkshire Railway traffic
return shows this week an increase of 4,6301. over
last year; the North Eastern, an increase of 4,5271.;
the Manchester, Sheffield, and Lincolnshire an
increase of 2,817/. • the North British an increase
of 1,1441. ; the London, Chatham, and Dover,
including the Metropolitan E xtension and branches,
an increase of 1811. ; the Metropolitan Extension
an increase of 231. ; and the Kent Coast a decrease
of 3101.
Formal notice is given that a petition for the
winding up of Barned'a Banking Company (Li-
mited)—to which reference has already been made
under this head—is to be heard before the Master
of the Rolls on the sth of May.
The reports of the proceedings at the half-
yearly meeting of the Credit Foncier and Mobilier
of England, held on Wednesday, have attracted con-
siderable attention. The facts that the company's
liabilities on "bills payable" aro limited to
207,0001., and that its cash in hand amounts to
322,7321., are regarded favourably. There seems,
too, to be little disposition on the part of the share-
holders or the observant public to require that the
directors shall give fuller and more explicit state-
ments with regard to the large sum of '2,564,9801.,
which figures in the company's accounts as repre-
senting its chief assets, and is classed simply
in three words as " bills, securities, and debtors,"
though it must be evident that upon these figures
every question connected with the position of this
company must rest. The attempt of some of the
shareholders at the meeting to elicit more definite
explanations was resisted by the board, who aptly
cited the difficulty which was interposed to the
realisation of the Hudson's Bay shares held by the
International Financial Society as soon as that
society's accounts had proclaimed the extent of
their holding. But, although the shareholders, as
is habitual to them, have deferred to the strongly
expressed opinion of the directors, there is another
point upon which discussion turned, and in respect of
which it would certainly appear that the board can
without difficulty meet the requirements of their
constituents. The total amount standing at
the credit of the company's reserve funds
at the 31st ultimo was no less than
736,6061., and while every credit is given to the
management for the caution and foresight which
have been exercised in accumulating and setting
apart this enormous sum, the question has been
' rained at the meeting and elsewhere in what secu-
rities is it invested. Were the sense of the pro-
prietors to be taken they would certainly be in
favour of investing this important guarantee fund
'in none but the most solid and unspeculative
securities. It seems to us that this is a point on
which the board will do well to bow to the repre-
sentations addressed to them. If this fund is
already placed in solid investments, there ought to
be no hesitation on the part of the management in
stating of what they consist ; and if not, the sooner
the money is detached from existing engagements,
and so secured, the greater will be the repute of
the undertaking.
The annual meeting of the Royal Swedish Rail-
way Company is called for the 17th of May.
The prospectus of the Graphotyping Company
(Limited) is issued, with a proposed capital of
100,0001., in 10,000 shares of 101. each, of which 11.
is to be paid on application, and 11. 10s. on allot-
ment. The object is to purchase and work the
patent rights for the United Kingdom of the Gra-
photype procesa,the advantage of which is described
as " the production of book and other illustrations
in a manner which is at once less costly, and more
expeditions, than is possible by the methods at
present so extensively employed, and which insures
a more faithful translation of the artist's work." The
prospectus mentions that " it is proposed to charge
at the average rate of one-half the present price of
wood engraving, while the actual cost is not more
than one-twentieth." The terms of purchase are
stated as follows :
The terms for the transfer of the patent, together with
the goodwill sad business of Messrs. Roper and CO. (sad
which includes a number of orders now on hand), are •
cash payment of 12,5001., and 12,5001. in fully paid up
shares of the compsny, with a further cash bonus of one-
tenth of th_e profits whenever the net earnings of the
company shall in any one year exceed 50 per cent, on the
paid up capita].
Mr. George Scott, of Walbrook, has been ap-
pointed by Vice-Chancellor Kindersley, official
liquidator of " Preen and Co. (Limited).'
Creditors of the Hill Pottery Company (Li-
mited) are revired to send the particulars of their
claims by the 28th of May to Mr. EJ ward Hart,
the official liquidator, the 18th of ward Hang