The Express.
London, England, 1868-07-16 00:00:00

1808.

MONEY MARKET.-(THIS DAY.)

ONE O'CLOCK.

TFe markets for public securities are active,
especially as regards foreign bonds, which have
experienced a fresh advanoe upon large purchases,
both on account of investors and speculators.
Brazilian, Egyptian, Peruvian, and Turkish are in
chief demand, at an improvement. The new Egyp-
tian loan has been favourably received, owing
chiefly to the provision that no further loan shall
be issued for a period of five years. The Scrip is
at 11 to 11 prem. Railway shares, on the whole,
are steady. Midland are flatter, in consequence of
unfavourable rumours with regard to the forth-
comingdividend. Conaolsareunehangodformonoy,
but have declined 1-16 per cent, for the account.
The discount market is quieter, but the rate
for the best bills is maintained at 11 per cent.
Consols are quoted 941 to 1, ex div., for
money, and 941, ox div., for the account
(Aug. 6), and the Three per Cents. Reduced
and Now Throe per Cents., 941 to 1.
The variations in railway stocks comprise a rise
of 1 to 1 per cent. in Great Eastern and Metropo-
litan, and a reduction of Ito in London and
North Western and Midland. Annexed are the
prices :—Caledonian, 72 to 1; London and North
Western, 1141 to 1; Great Western, 481 to 49 ;
Midland, 104 to!, ex new ; London and South
Western, 911 to 921; Groat Eastern, 38 to 1 ;
Brighton, 521 to 53 ; South Eastern, 741 to 1 ;
Metropolitan, 1131 to ; Great Northern, 1021 to
1031; Ditto A, 961 to 97 ; London, Chatham,
and Dover, 191 to ; Lancashire and Yorkshire,
1281 to ; York and North Midland, 92 to
93; Berwick, 1021 to 1 ; and North British, 34
to 1.

The foreign stock market is decidedly firm, with
a large amount of business, consisting almost
entirely of purchases. The improvement in most
bonds amounts to to 4 per cent. Brazilian of
1867, 761 to 774 ; Chilian of 1867, 921 to 934 ;
Egyptian of 1864, 831 to 844; Italian of 1861, 531
to 1, ex div. ; Mexican, 151 to 1 ; Peruvian
of 1865, 801 to 1, ex div. ; Russian of 1866,
911 to 92 ; ditto Orel, 841 to 1 ; Spanish of
1867, 351 to 361, ex div.; Turkish of 1858,
861 to 67 ; ditto of 1862, 641 to 651, ex div. ; and
ditto of 1865, 401 to 41, cx div.

Apart from a rise of per cent. in the Four per
Cent. Debentures, viz., to 105} to I, Indian
securities are without change. The Five per
Cents. are quoted 115 to ; the Four, 1041 to
105; and the Bonds, 255. to 30s. prem. Bank
stock, 244 to 246 ; and Exchequer Bills, 16s. to
20s. prem.

A moderate amount of business is going for-
ward in Bank shares, at steady prices. London
and Westminster, 691 to 1 ; London and County,
501 to Mi; Union of London, 341 to 1; Anglo-
Austrian, 51 to f prem. ; London and Brazilian,
28 to 25 die. ; Imperial Ottoman, 11 to 11 prem. ;
and Consolidated, it to f prem.

The market for miscellaneous Aaree is inactive.
National Discount, 61 to pram. ; General
Credit, 21 to 2} die.; Credit Foncier, 2;
to 3 per share, being 2s. 6d. lower ;
International Financial, 1; to 11 dis. ; London,
22 to 21 die. ; Hudson's Bay, 151 to; ; Telegraph
Construction, 14; to 151 ; Atlantic Telegraph
Eight per Cent. Preference, 41 to Z ; and Anglo-
American, 211 to 1.
United States 5-20 Bonds are 1 per cent. lower,
at 72Z to 1.

The Tambeff-Kozloff Loan is at 2/ to 3 prem.,
and the Swedish at 3 to I prem.
The report of the directors of the London Joint
Stock Bank states the net profit for the six
months at 68,6301. This sum, together with 6,3691.
taken from the guarantee fund, the board have
appropriated in payment of the usual dividend of
12} per cent. per annum. Tho guarantee fund
now amounts to 418,4161.

TWO O'CLOCK.

Consols have declined 1-16 to k per cont., viz.,
to 944 to 4 for money, and 944 to 1 for the
aueount.

FOUR O'CLOCK.
Consols have improved 1 per cent., via., to 941
to 1, for money, and 941 for the account.
Some of the railway stocks are flatter. Motro-
politan has declined per oent., the present price
being 1121 to 1131. Brighton, 521 to 1; South
Eastern, 76Z to I; Midland, 1031 to I ; London
and North Western, 1141 to I ; Lancashire and
Yorkshire, 1281 to 129 ; Great Western, 483 to 1 ;
and Caledonian, 721 to 1.
Foreign bonds show firmness. Italian of 1861,
531 to 1; Orel. 84 to 1 ; Nicholai, 66 to 1; Spa-
nish of 1867, 331 to 361; and Turkish of 1863,
41 to 3.
About 17,0001. in gold has been bought by the
Bank.

At Paris to-day the Three per Cent. Routes
opened at 70fr. 27c. for the account, being per
per
cent. lower.

The prospectus of the expected Egyptian Go-
vernment 7 per cent. Loan of 1868 was issued late
last evening. The amount of the bonds to be put
forth is 11,890,0001., or 297,250,000 franci. The
contractors are the Imperial Ottoman Bank, the
Societe Generale of Paris ; Messrs. H. Oppenheim,
Nephew and Co., of Alexandria; and Messrs.
Oppenheim, Alberti, and Co., of Paris. The
bonds bear 7 per cent. interest from the
15th instant, payable half yearly, on the 15th
January and 15th July, in London, Paris,
and Alexandria. The loan will be redeemed at
par [loo] in 30 years, by means of an accumu-
lating sinking fund, the bonds being drawn by
lot. The first application of the sinking hind is
to take place in May, 1889, and will comprise the
amount of two drawings. The price of issue is
75 per cent., of which S per cent. is payable on
application, 10 per cent. on allotment, and 15 per
cent. at monthly intervals beginning on the 13th
September, and ending on the 15th December
next. Six per cent. discount is to be allowed on
payments in anticipation. Beckoning allowances,
the issue price is reduced to about 741,
and the loan thus yields 9.43 per cent., or
reckoning the sinking fund, nearly 10} [10.44] per
cent. Exclusive of the payment on application,
and of that due on allotment, both of which must
be in cash, subscribers will have the option, on
giving notice, of paying the remaining instalments
in bills of the Egyptian Treasury, or of the railway
administration. Subscription lists are to be opened
simultaneously on the /6th, 17th, and 18th inst.—
in London, at the office of the agency of the Im-
perial Ottoman Bank ; in Paris, at the offices of
the Societe Generale ; and in Alexandria, at the
offices of Messrs. H. Op helm, Nephew, and
Co. ; also in Amsterdam, Berlin, and Frankfort.

There were no transactions in bullion at the
Bank yesterday. Since the date of the last return
there has been on balance a total withdrawal of
241.000/. for export.
The City of London has arrived from New York
with 230,600/. in specie. The amount of gold
2cl from that port yesterday for Europe was
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