The Express.
London, England, 1868-08-03 00:00:00

468.

two-NET millutHr.-mus n 4 T.,

•
craLoOK.
The transactions in pnbliesecuritiee to-day aro
not very numerous, and the changes in priotie are
neither gmeral no* important. The attendance
of members in the Stock Exchange is
limited, many of them having left for their
holidays. Conaolsare without variation. Rahway
stocks are still Inquired for, and a moderate
advance is apparent in some of them. Most of the
recent speculators for a fall are disposed to clops
their amounts, with the prospect of the directors
of the chief lines deciding to divide the original
into A and B stocks. Foreign bonds are dull, the
advicee from abroad not being considered seta
factory. Spanish of 1887 have been sold to a
considerable extent, at a reduction.
The discount market is quiet, but the beat
paper is not taken below 1 # per cent., owing to
further expected withdrawals of gold from the
Bank.

Consols are quoted 944 to 1 both for money
and the Bth inst., and the Three per
Cents. Reduced and New Three per Cents.; 944
toff.
In the railway market a rise of 1 to 4 per cent.
has occurred in Great Eastern, Brighton, South
Eastern, and Metropolitan stocks. Annexed are
the prices :—Caledonian, 784 to 79 ; London and
North Western, 1171 to 4 ; Great Western, 514 bo 1;
Midland, 1071 to j ; London and South Wastean,
92 to 93; Great Eastern, 494 to 1; BrighteM,
544 to 1; South Eastern, 774 to 1; Metropolitan.
1184 to 1 ; Great Northern, 108 to 109; Ditto A,
105 to ; London, Chatham, and Dover, 204 tp
; Lancashire and Yorkshire, 1301 to 1314; York
ani North Midland, 93 to 94 ; Berwick, 104 to
1041 ; and North British, 384 to 37.
Foreign securities are rather fiat, and prices ex-
hibit a drooping tendency. Spanish Bonds of 1867
are offered, and have declined 4 per cent., viz., to
341 to 4 ; Italian of 1861 are quoted 521 to t,
being 1 per oent. lower ; Brazilian of 1865, 77 to
; Chllian of 1867, 921 to 934; Egyptian of
1864, 831 to 841; Mexican, 151 to 1 ; Peruvian
of 1865, 794 to 1; Russian of 1866, 924 to 931 ;
Turkish of 1858, 664 to 67 ; ditto of 1862, 64
to 65 ; and ditto of 1865, 391 to t.
The India Five per Cents, are at 1144 to
1151; the Four, 104/ to 105 ; the Bonds, 235. to
28s. prem. ; and the Debentures, 105 to 1. Bank
Stock, 247 to 249 ; and Exchequer Bills, 13s.
to 18e. pron.

Bank shares present no change, the dealings
being upon a limited scale. Anglo-Austrian, 7to
1 prem. ; London and Brazilian, 30 to 23 die. ;
Imperial Ottoman, 1 to 1 prem. ; Consolidated, 1
to I prem. ; London and Westminster, 681 to 1;
London and County, 511 to 521; and Union of
London, 341 to 351.

Miscellaneous shares are inactive. National
Discount, however, have improved 65., the
present price being 11/ to 12}, ex div.
General Credit, 21 to 21 dis. ; Credit Fonder, 2/
to 3 per share; International Financial, 11 to
dis. ; London, 23 to 22 dis. ; Hudson's Bay,
161 to 2; Telegraph Construction, 18 to f, at
div. ; Atlantic Telegraph Eight per Gent.
Preference, 41 to 1 ; and Anglo-American, 312
to 2.
American securities are without any special
alteration. The 6-20 Bonds are quoted 71/ to
72/. Erie Railway Shares, 431 to 44 ; Illinois
Central, 941 to 96 ; Atlantic and Great Western
Debentures, 412 to 2; and the Consolidated Mort-
gage Bonds, 412 to 421.
The Interoolonial Loan is quoted 1051 to 1061 ;
the Swedish, 21 to 3 pram.; the Tamboff-Kozloff,
to 11 prem.; and the Egyptian, f dis to f
prem.

A meeting of Vemesuelan bondholders of 1862,
and of the Three and One-and-a-Half per Cent,
titodr, will be held on Thursday next, for the par.
pose of considering the following resolutions :

1. Amalgamation of the oommittie of the 1962 and
original bondholders with the committee of the 1864 bond.
holders.

2. To empower the committee to mad an agent to.
Venezuela an terms to be arranged.
3. To request Messrs. Baring Brothers and Co. to pay
half the expense of such mission, and the expenses hitherto
inclosed by the committee, out of the- bondhoiderst fundi
in their heads, and to adopt such other resolutione ad m► 4
seem necessary.

The directors of the company of African-Mar-t
chants (Limited) have declared an interim divii
dad for the half year ending'the 30th June last
of 2.. 6d. per share, payable on the 10th of Angust.ll
The half-yearly meeting of the General Steam,
Navigation Company is called for the 26th Mat., to
declare a dividend.
TWO O'CLOCK.

The government funds are dull, st. 94/, both
for money and next Thursday's settlenunt.

FOUR. O'CLOCK.
Consols are without variation, at 941 both for
money and the account.
16Home railway stocks are decidedly heavy, and
have all given way. Caledonian is especially de-,
pressed, and has fallen 2 per cent., viz., to 761
to 77. Metropolitan is quoted 117 to 1, showing
a fall of If ; London and North Western, 1161 to
117, being 1 lower ; Brighton, 63} to 54 ; South
Eastern, 77 to ; Midland, 1061 to 107} ; Lanca-'
shire and Yorkshire, 1301 to 1311; and Great
Western, 501 to 51/.
As regards foreign bonds, Spanish of 1867 and
Turkish of 1865 have declined 1 to / per cent., the
present prices being 331 to 34 and 391 to e re-
spectively. Italian of 1861, 52} to 1; Orel, 831
to 841; and Nioholai, 66 to /.
No gold has been withdrawn from the Bank to-
day for exportation.
At Paris to-day the Three . per Cent. Bente;
opened at 70fr. 7c. for the account, being about
the same as on Saturday.

The demand for gold on Saturday for the conti-
nent wee active, and 229,5001. wee taken for ex-
portation, viz., 86,0001. from the Bank and
143,5001. imported by the Moravian, from Mel-
bourne.

Holders of the securities of the Indian railway
companies are to be congratulated upon the highly
satisfactory character of the statements contained
in the annual report just issued by Mr. Juland
Danvers, the government director of the Indian
railways. The facts herein set forth are too in-
teresting to be passed over without some brief re-
capitulation. Close upo 4,000 miles of railway
have now been opened in T.ndia, at an actual expen-
diture of 76,071,6661. It is worthy of remark that,
of this sum, debentures—of canna, guaranteed--re-

present the safe proportion of 16,630,1461.
During the past year the expenditure was
7,000,0001., and a proof of the very limited nature
of the strain which these works impose upon our
home resources is afforded in the fact that of that
suns upwards of 4,000,0001. was expended in
England for permanent way, materials, locomo-
tives, stores, sic. sent out from this country. The
future expenditure—and consequently the creation
of new guaranteed securities—us to be kept within
reasonable bounds, the outlay for the current year
being estimated at 5,177,0001. But the government
co-operation on behalf of the railways is not limited
to the guarantee, the land granted free to the
railway companies from the outset being esti-
mated as worth 2,500,0001. The net receipts in
1867 were rather more than 30,0001. above those
of 1866, the past year, owing to the check to
trade, not having been a peculiarly favourable
one. Mr. Danvers, however, cites the interesting