The Express.
London, England, 1866-06-13 00:00:00

MONEY MARKET.-(THIS DAY.)

tits o'CLoom.
The stock markets are dull to-day, owing to the
imminence of war on the Continent, and the
announcement of fresh disturbances by the Fenian
in Canada. The despatch of a further large amount
of gold (1,400,0001.) from New York to Europe,
and the prospect of a reduction to-morrow in the

Bank of England rate of discount, have no favour-

able effect at the moment.

Attention is still

partly directed to the fortnightly settlement. The
funds have defined per cent., and the variations
in the English railways, foreign bonds, and bank-
ing and financial shares, although not numerous,
are also in an unfavourable direction. Credit

Foncier are especially heavy, and have receded 10s.
It being anticipated that the Bank rate will be

lowered to-morrow, the applications for discount
to-day are very moderate. The rate for the best
bills is 94 to 94 per cent.
Consols are now quoted 864 to 4, ex div., for
money, and 864 to for the account (July 10).
Turkish Bonds of 1862 are heavy, and have
declined 14 per cent. Italian of 1861 and Mexican
have also receded ; and Spanish Passive, 4.

Turkish Bonds of 1862 are now quoted 47 to 49 ;
ditto of 1865, 251 to 1 ; Greek, Ilf to ; Spanish
Passive, 19 to 1 ; ditto Certificates, 14 to 143 ;
Italian of 1861, 351 to 36 ; Brazilian scrip, 61 to
5} dia. ; and Mexican, 153 to t.
United States 5-20 Bonds have declined 3 per
cent., viz., to 64/ to 65; but Erie and Illinois
Central railway shares are steady at 40 to 41,
and 741 to 74 respectively.
International Financial shares are now quoted
21 to 11 die. ; London Financial, 16 to 14 die. ;
General Credit, 3to 21 die. ; Imperial Mercantile,
91 to si die. ; Credit Fonder, 4i ton die. ; 0 verend,
Gurney, and Co., 18 to 16 dis. ; and National
Discount, 61 to 1 prem.
Perhaps the most interesting movement in the
Stock Exchange yesterday was in the shares of the
London and County Bank. It had been asserted

that the recent sale; of these shares were for de_

livery, but the settlement yesterday has applied
an infallible test, and has demonstrated beyond
question that they were mainly of the speculative

and mischievous character to which attention has

been so largely directed of late. But the refusal of

the bona fide shareholders in this instance to fall
into the trap laid for them has occasioned such a
scarcity of shares at the present settlement, that
the " bears " have been driven almost to their
" wits' end "to adjust their accounts. The price
of London and County Bank shares rose
yesterday no less than Si., and as much as
51. to 7/. (in one or two cases it is said even 91.) has
been paid for the loan of the shares till the next
settlement, a fortnight hence. This circumstance
is, we believe, quite without a parallel, and the
great body of shareholders who have had the cou-
rage to retain their property through good report
and evil report may be congratulated upon it.
There was a good demand yesterday at the Bank
discount-office, chiefly on country account. The
general market was quiet, but the supply of money
has diminished during the last few days, owing
chiefly to the largo sums-estimated at between
2,000,0001. and 3,000,0001.-which have been
paid into the Bank of England on account
of the undertakings that have lately stopped
payment. Comparatively few bills were offered
for discount, most persons being disposed to await
the result of the weekly court at the Bank of Eng-
land to-morrow, when a reduction of at least 1
per cent. is fully expected.
The amount of gold sent into the Bank yesterday
was 106,0001., making an aggregate of 1,102,0001.
since the date of the last return.
The Red Rover has arrived from Port Philip
with 31,0001. in specie, making the total reported
this week from various quarters, 507,5001.
There is a good demand for bar silver for trans-
mission to Hamburg, and the price is firm, at
ss. 2d. to ss. 21d. per ounce.
On 'Change yesterday afternoon the rates for
bills on Austria and Italy were almost nominal,
but, where transactions took place, the terms were
again decidedly worse for those countries. The
exchange on Hamburg was slightly lower. As
regards other places, little alteration took place,
the rates being as follows :
Amsterdam, 3 months, 11.191 to 12 ; ditto, short. 11.17
to 11.171 ; Rotterdam, 3 months, 11.19/ to 12 ; Antwerp,
3 months, 25.50 to 25.60 ; Brussels, 3 months, :55.50 to
21.60 ; Hombre and Alton', 3 months, 13.81 to 13.9 ;
Berlin, Cologne, kc. :3 months, 6.28 to 7.0 ; St. Petersburg,
3 months, 25 to 24i; Paris, short, 25.10 to 25.221; ditto,
3 months, 25.40 to 25.50 ; Marseilles, 3 months 25.40
to 25.50 ; Frankfort-on-the-Maine, 3 months, 115 k to
1181: Vienna, 3 months, 14 to 14.20 ; Trieste, 3
months, 14 to 14.20 ; Madrid, 3 months, 46 to 451
Santander, 3 months, 441 to 451 ; Cadiz, 3 months, 461 to
461 ; Seville, 3 months, 461 to 461 ; Malaga, 3 months,
461 to 461 ; Valencia, 3 months, 461 to 461 ; Barcelona,
.3 months, 471 to 47 ; Bilbao, 3 months. 47 to 46-4
Valladolid, 3 months, 46 nom. ; Saragossa, 3 months, 41
to 461 ; Leghorn, 3 months, 31 to :31.50 nom. ; Genoa,
3 months, 30 to 31.50 nom. ; Naples, 3 months, 30 to
31.50 nom. ; Palermo, 3 months, 30 to 31.50 nom. ;
Messina, 3 months, 30 to 31.50 nom. ; Lisbon, 90 days
date, 511 to 501; porto, 90 days date, 511 to 501.
We received yesterday a copy of the report of
ilthe committee of shareholders with reference to the
affairs of the English Joint Stock Bank (Limited),
but this document has since been withdrawn from
publication. An official memorandum intimates
that the result of the investigation of the affairs of
the English Joint Stock Bank (Limited) by the
committee of shareholders appointed for that pur-
pose is so satisfactory that the commitee and
directors have unanimously determined to recom-
mend to the shareholders and creditors that imme-
diate steps be taken to enable the bank to resume
its business.
An extraordinary general meeting of the share-
holders of the Consolidated Bank (Limited) is
called for the 31st instant, " To consider, and if
approved of, to adopt a scheme which will then be
submitted for re-opening the bank and resuming
business, and if such scheme, or some modification
thereof, should not be approved of, then also for
the purpose of considering the best mode of liqui-
dating the affairs of the said Consolidated Bank
(Limited), and of passing such special or other
resolution or resolutions with reference thereto
as the said meeting may determine."
The following has been received from the Albion
Bank (Limited) :

--
TO THE EDITOR OP THE IMPRESS.
Sir,—Will you be good enough to mention in your im-
pression of to-morrow evening that this hank has no
connexion whatever with the Universal Banking Corpora-
tion (Limited). Some misapprehension appears to exist
on the subject, in consequence of an amalgamation having
taken place between that company and another called
Challis' Banking Company (Limited), late of Sherbome-
lane, while the business of Messrs. Challis and Son, of No.
16, West Smithfield, was transferred to the Albion Bank.
The identity of the names has before led to a similar error,
although there was absolutely no solute:ion whatever
between them.—l am, do., BIM. GRZOORY, Secretary.
2, Bank-buildings, Princes-street, London, June 12.
The Metropolitan Railway traffic return shows
this week an increase of 6481. over last year.
The annual meeting of the Dutch Rhenish Rail-
way Company is called for the 36th instant at
Utrecht.
A call of 20 per cent. is to be paid on the Four-
and-a-Half per Cent. Preferential Stock of the
London and St. Katharine Docks Company by the
2nd July.
The Great Indian Peninsular Railway Company
announce that they are prepared to borrow money
upon debentures for seven years, bearing interest
at the rate of 5 per cent. per annum, payment of
both principal and interest being guaranteed by
the Secretary of State for India.
A meeting of the shareholders in the Socitki
Financiere d'Egypte was held yesterday, " to take
into consideration the position of the association,
previously to the general meeting, advertised to be