The Express.
London, England, 1857-12-24 00:00:00

TEE EXPRESS, THURSDAY EVENING, DECEMBER 24, 185'.

ST. .INDAZIrd AID QUEBEC RAILWAY.
MID DAY)

This morning an extriM riinary general meeting
of the C 1... A shareholders is the above company was held
at the oaks, Whitehall, for the purpose of receiving s mon
from the directors on the subject of n mows complete masa-
, gal:nation of the company with the New Bmainrick sad
Canada Land Company (hunted), egrembly to a resolution
pawl at the general meeting held on the 31st of August
sad for other special purposes. The c►air on. occupied by
Kr. PRANCLI IDIVAIDM.

The Cl/AIRMAN announced that he bad been elected
Chainnom of the Board of Directors in ancomsim to Earl
Pitzwilliam, deceased. It was with infinite @withal= that
he could state that forty miles of the railway had been
opened since the Stet of October, end be had it
on the authority of the general manager, that the
traffic left a profit over the working explodes.
Twenty other =dee were now nailer contract, and
It was expected that by July neat the entire line to
Woodstock would be opened to the public. The line already
rethad cost 2,2171. ear and it wee estimated that
t of the remaining portion at the simy miles of
this railway would not gamed 2,3001. per mile. Sabafeelmy
aregagensonte were Min made for the oh ef
the empeey's leads and thither, and Um meal
be es deeM that the railway, In mew*a with
the UM Cowpony, would ultimately yield a wry Imadsome
Mina I• the 'Way. The object of ,his webs was le
selhadee • empiele sam/gamation of the two tomprmio
the Wee hold deg AM ems of land betweenthou, and
the proles of say oohs would be distributed, preiwT
=the sbareholders of the two cowponies. hie
ion to the What that It was the opinion of the meet.
Mg that It would be expedient that this company &mild be
easlitesetad with the New Brunswick and Canada Land
Catepsay ; end that the dession be anthorMed to take the
neeneary steps, in wejseetiee with that oompany, to pro-
em* ea mat authorising mak assalgamation.
Mr. Marra. I. [7 reeedel the reeokhos.

•
Mr. 0134;DC11;LD *dila vire wan the tams 141011 With
t 411■116assation was to take ids, ?
The C111•IRM•N said they MI y to be load by the
directors ; the draft of the ball amaltadylag thou would have
to be eatesitted neat grim he the asactioa et tie
shareholders.

Mr. Sii•arsoi director, urged a variety of objections to
the amalgamation, and contended that the two winpseise
did not stand upon an equal footing.
Tha CuM as V 4 rid tho objections of Mr. flbsip. writ
bawd on 4l hones ll* regretted to say, for lb. lea year and
a half dlr. Sharp. had been the Nisi-plot of the company.
Th. resolution we adopted attar a brief discumion ; and,
after N. tranaection of sours other badman, the 'award-
ing. terminated with the usual oomplimmit to the chairman.

a. 1 rd.

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The railway share market to-day is rather firmer,
owing to the reduction of 2 per cent. in the Beak
rate of discount. London and North-West-
ern stock has improved to 96 to 1; Lancashire
and Yorkshire, 931 re 94; and Midland, to SD to
Great Western is quoted 64 to • London and South-
Western, 461 to 47 per share ; Great Northern, 241
to $; and Eastern Counties, 11 to 1. Other de-
scriptions ere fairly supported, but bubbles' is
quieter.
Indian railway shares of all descriptions are in
demand, and better, especially East Indian and
Madras. Omit Western of Canada are inquired
for; most other foreign, as well as colonial descrip-
tions are steady at the late improvement

ORDIJWIT IMAM MID ITOCIS.I.

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NO IVRY MARX liT ---17118 DAV.

REDUCTION IN THE BANK RATE OF
DISCOUNT.

Two o'CLoow.

arraa.aement 60
Mlnot. Ceatral, T per cent.. Coartnellnl6l6 76
Ditto. 6 our COOL, Conslametlust. /I bOOOOO.
Data,
44. 2d. oar dultar
Dlsto. 7 per owl. Frodand 1640. with otaloo-70 yor
Si mot tEcreg . . 1•6
Mo. Ino dollar !them 40 donors paid 1.3
Joliet and Northern Laftivtaal rey ant. iat

14 sr

'.."6:1;:174:ii;-ra:e.;.4-17 tivaiTs.77:67niZa
11.11i00, Cent.% Jolatly 80
. .08801. el cm teat. let Hort. convert. MO 711
Mao. lett ..... .. .. ..
Ditto. lent . .....,.. .. .... ... ........ ...... .. :: . :
Mao e 1... lee nn
. ...... .. . as
mu. yowl.. ow NariiiiiCiiiiiii:i per cii:
..
—..—.

The Directors of the Bank of England have this
day made a reduction of 2 per cent. in the rate of
discount. The minimum rate is fixed until further
notice at 8 per cent. per annum.
This announcement has been received a ith
great satisfaction in all circles, but has led
to little change in the prices of securities in the
Stock Exchange, having been to • great extent
" discounted." All the markets are firm. The
funds are now quoted the same as at four o'clock
yesterday.
_ .

. .
Consols for the Bth January are quoted 934 to 1
ex div., and have scarcely varied. The Three per
Cents. Reduced are marked 934 to 934 ; the New
Three per Cents., 934 to 934 ; Fachequer Bills, 3s.
dis. to la. prem. ; and India Bald', 20 dis.
Turkish Six per Cents. remain steady at 954
to 96. Other foreign stocks are quiet. Sales
are recorded as follows :—Braxilian Old Five
per Cents., at 98; Belgian Four-and-a-Half
per Cents., at 96 (exchange 25fr.) ; Peru-
visa Four-and-a-lialf per Ceuta., at 76 and 75;
ditto, for account (31st Dec.), at 77 ; Russian Four-
and-a-Half per Cents., at 974; Spanish New
Deferred Three per Ceuta., for account, at 26;
Turkish Six per Cents., at 954 ; ditto for account
(December 31), at 951, 4, and 4; ditto Guaranteed
Fear per Cents., at 101.

The Bank of England during the last two or
three days has had scarcely any discount business,
whilst repayments flow steadily in, leading to a rapid
increase in the reserve. The amount of newly—
imported gold, bought by the Bank yesterday, was
as much as 240,0001., viz., 46,000 ounces of bar
gold, and 50,000 or 60,000 sovereigns, chiefly from
the United States. Moreover, gold is now being
somewhat more freely returned from Ireland.
In the Stock Exchange no employment can be
found for the mass of money on offer. Loads on
Government securities are obtainable at three per
cent. from day to day, and at four per cent. up to
the January settlement.
It is symptomatic of the approaching great alters-
tion in the value of money that the joint-stock banks
are conferring together upon the question
of the propriety of reducing the rates allowed
for deposits. The London and County Bank
have announeed that, dating from to-day, they
will not allow more than 6 per cent. for fresh
deposits. Their existing contracts remain subject to
the arrangements previously in force, until a reduc-
tion takes place in the rate of discount at the Bank
of England. The otkez joint-stock banks have post-
poned coming to any decision until to-day.
The committee have formally decided that the
Stock Exchange shall be shut on Saturday next.
The arrangements proposed with this view met
with a ready concurrence on the part of the authori-
ties at the B..nk of England, where, however, a
clerk wi'l be in attendance at each tranefir office.
The amount of specie taken by the steamer
Atlantic to New York yesterday was only 7,4001.
The New Yort advice@ indicate the probability
of 90,0001. or 100,0001. in specie being shipped on
board the Fulton, which is expected to arrive at
Southampton in a day or two. A portion of the
amount will probably be on French account.
The smart of silver taken out to Hamburg yes-
terday morning by the steamer Neptune was only
2,5051.
The bar silver brought by the steamer Parana
was sold yesterday at se. 1;d. per ounce standard,
showing a redaction of :d. compared with the high
price realised for the supply by the previous packet.
The Mexican dollars have been sold at ss. id. per
ounce, showing an advance of id.
At Hamburg the exchange on London has de-
clined. In the other continental cities the rates
exhibit no important alteration, with the excep-
tion of the fall at Vienna, above referred to. At
Paris on Tuesday the exchange on London was
quoted 25.27; to 30 for short, and 29.70 to 75 for
three months' bills; at Amsterdam, 11.80, for short;
at Hamburg, 13.4 for short, and 12.13 for three
menthe ; and at Berlin, G. 171.
The corn market yesterday was very quiet at last
Monday's rates. Owing to the continuance of south-
westerly winds, another batch of 26 grain-laden
vessels has arrived at ports of call. The transac-
tions in thin department of the market are very
limited. The country markets are reported firm,'
but in France the prices of grain are drooping.
We are requested to state that Mr. Stevens, who
figured as prosecutor in a recent case in a police
court, is not a member of the Stock Exchange.
The shares of all the Indian railway companies
were in continued request yesterday, at higher rates.
The prospect of an important fall in the value
of money is stimulating numerous invest-
ments .in these securities, and the belief that

a considerable amount of stock will be thus
absorbed also encourages speculative purchases.
The shares of several of these companies, including
such of the East Indian Railway Company's shares
as are itti paid up—together with those of the Ma-
dras Railway Company—are allow: d to be paid up in
full at the option of the holder,. It is by no means
improbable that some considerable amounts of money
may by this means be carried into the East India
Company's home treasury. The prices quoted for
the Indian shares include the half-yearly guaranteed
interest now coming due.
There is an increased inquiry for many other de-
scriptions of guaranteed and preference railway
stocks which are usually in favour amongst in-
vestors.

The decrease shown in the weekly traffic return of
the London and North Western Railway is 64891.
The Great Northern presents an increase of 6001.
A general court of the Commercial Dock Company
is called for the Bth January.
The position of the market for American railway
securities is thus noticed by Mr. E. F. Satterthwaite :
The rawitet for American securities in London has been
steady. Illinois Centre! shares have declined to 15 discount,
bat the bonds are firmly held at previous prime. Michigan
Central hoods continue is much request, at a further ed.
vane,. We note moderate transactions in New York Cen-
bel and l'enusylvania Central, at former rates.
The following quotation. are 4s. 6d. to the dollar:—
ltd. Arked.
Mehl:MN Masan; 6 per rent.. 114 Moqe. Cos-
vortibie MIL rummaged by thmdea and Amboy.. M a mt.
Cerrat..,
isleroa. sod Dayteo. 7 pa amt. :Zod
to
Oswalt sad Mile-eke,, 7 per tem.. let Weston
COUVOndAd Moods. 146..........................51 60
Detrol, and Masaakee, Gnat Waters of Omuta

7.= to es
DM, ditto rh,etto. 100 dethn
Kerr York and Eric, 7 per reut-Thlrd 1i0rr..114-11.11111
Ditto. 7 per cent .171t,Ittor Eortd.l67o. ...... 11)
Mud, 7 e oral C,ourertible ktoods.lWM
Biro .Are, 100 donne* lB
Nen York (votral. 7 per mei., ever..........
ISIS PO lel
Ditto, MT cent.. tring Pod, . .
cliblo 0.1 Perierrivania. per eset. boor bads
harrylvania. e per ant.. be Hart. convertible IIN id Stet coop
Mica.DW rad Morgan, eenverilbie are
1,2 84
aelteree AO dollar.
If the steamer European sailed from Sydney on
the I lth of November, the date previously fixed, she
was due at Suez yceterday, in which case Australian
intelligence may reach London by telegraph in four
or five days. Owing to the circumstance of this
vessel having arrived at Melbourne from Suez with
her machinery deranged, it has been assumed that
I there is no chance of another steamer arriving at
Baez from Australia this month. Considering,
however, that the European would have three clear
weeks to stay at Sydney before sailing on the ap-

pointed day for Suez, it is considered possible that
the necessary repairs may have been effected in
time.

The steamer Teviot, with the mails for Australia
of the 12th Mit arrived at Malta on the 21st inst.,
and sailed on the following day for Alexandria.

WID?1211D•T iT7XOIO.

The funds opened this morning at an advance,
which wee followed by a reaction. Upon the grati-
fying news that Lucknow has been relieved, a re-
newed improvement took place; and the closing
quotations were / per cent. above-those of yesterday-
In the share markets the tendency was, upon the
whole, less buoyant. The weaker class of the recent
speculative buyers are realising their profits prior to
the settlement. They are the more moved to this
course because the Stook Exchange will be shut
from to-morrow (Thursday) evening until Monday.
Consols, for the Bth January, which closed yester-
day at 931, "sellers," ex div., touched 931 this
morning, fell to 92/ to 93, and had recovered at the
close to 931 to:. The official business report is u
follows :—Three per Cent. Consols, for account
(Jan. 8), 931, 931.93, 931,93 ex div. ; Three per Cents.
Reduced, 93k, 931, 93, 931, 93 ; Long Annuities,
expiring in lan.. 1860, 2 1-18 r Thirty Years' An-
nuities, April, 1886, 17 6-16, 17 7-16 ; Bank Stock,
2171, 217; Three-and-a-Half per Cent. Exchequer
Bonds, falling payable in 1869, 98.
Exchequer Bills were quoted 4s. to la. die.
Turkish Six per Cents. were steady, and closed at
961 to 96, or the same DJ yesterday. The Gua-
ranteed Four per Cents. have improved to 101
to 1. Mexican Bonds were rather more offered,
bat most other foreign description, were in fair re-
quest and steady.
The produce markets maintain a steadier appear-
ance, owing to the decline in the rate of interest.
Tallow, linseed oil, tea, coffee, and sugar are, all
firmer.

In the market for Bank shares to-day the principal
inquiries were again for Bank of Egypt and Ot-
toman Bank. The former advanced to 21 to 21 dls,
and closed at 3 dis. The latter left off at 181 to f.
Union Bank of Australia shares were quoted 2).
lower. Australian Agricultural have risen to 24 to
26, and Peel River to 21. to 2f. London Discount
were inquired for. London General Omnibus shires
were rather firmer, at 3 7-16 to 9-16, being some-
what scarce in the market.

The chi Lie; 1; the IMius Steam Flotilla were
quoted to prem.

MINES-THIS DAY.

Two o'CLocw.
The market for British mining stocks remains
dulL South Frances shares have been dealt in in
the Stook Exchange to-day at 224 ; and West
Basset at 211. Other descriptions are inactive.
The shares he the Yontgibaud Silver-Lead
Mining and Smelting Company are marked 61 iD
VOl. paid), and English and Australian Copper, 11.
he quotations for most foreign and colonial mining
shares are merely nominal.
At a meeting of the adventtuers in Wheal Edward, held
on the 22nd inst., the accounts showed • balance in favour
of the mine of I,OW. 6e. bd. The committee gave a read
satisfactory report of the financial position, but recommended
the adventumrs not to declare a dividend, but carry the
profits over to the next meeting. Captain East wasp rrept,
end explained the workings by a section, and stated the
south lode in the shaft was richer than ever ; in the lad 2b
feet taken down, it had turned out 10 tons of rich ore,
maldag for the length of the shaft 12 feet long, 20 tons to
the fathom. The north lode was improving in depth, and,
though 649 tons of ore had been sold during the quarter, the
reserves were increased now, In at 20,00 W., and, in
conclusion, stated the mine never presented more favourable
proepecte than at present.
South Cramer will sample on the 29th inst. about 76
tons of ore.

WIDXSIDAT Byname.
Sashimi in British mining stocks remain exces-
sively dull, the inquiries being very limited. In a
number of eases, including shares in Alfred Consols,
Condurrow, Sortridge Console, and Wheal Kitty
(Lelant), the tendency of prices was drooping. Some
transactions are reported in West Grenville shares
at res. ad. sod ae. In the Mining Exchange the only
prices quoted were as follows, via., Par Consols, 171;
and Wheal Zion, 45., as., 30., 4s.
The shares of the General Mining Association
(Nova Scotia) were quoted rather higher. Foreign
descriptions were nominally unchanged in price.

COMMERCIAL AND MARKETS.

MINCING-LANE.-THIS DAT.

Tim public markets will dose to-day for the holidays and
re-open on Tuesday, sth January next.
Sens/L.—Mere has been a decided improvement in the
demand for this article during the short week (three dap),
and a fall amount of general business done at an &dream of
folly 6d. upon last weeks' currency, and confidence appears
to be gradually recovering in this market. Refined lumps
firm, from 655. 6d. to 58e.
.

COrrss—Ths small public Isles have gone off steadily at
previous rates.
Taa—Tbe market bee become more firm, and good medium
segos sold in public sale at a alight adrance. Common
,mtt sold at 12d. to 120., =oat terms, according to
to
. .

Itta—The prices of last week have been *tit° a limited
extent, bat the article continues dull of sale.
_ _

...-4.--;;-at;-‘4,-itt77ie demand is vary

flat.Vritruz.—Bales have been made in mine instances at
resents rates, bat a decline has been submitted to in tamed
alas.

tirtons have sold heavily, and In many eases rather lower
pekes bays been submitted to.
Harr and Jr?' quoted the same prices a, last week.
The tons of markets pawkily bas been improved this
week.

TALLOW MARKET.—THIS DAY.
The market Is quiet :—Toe* tallow ia quoted 6ss. nett
twat; Petersham Y.C. en the lIPA, 63e. 3d. ; Desnalsor,
635.; January and Muth, 63e. ; Much,

METROPOLITAN CATTLE MARKET.

(THIB DAY.)
This market is held to day instead of on Friday; but it
may be described quits a holiday-market, both se regards
supply and demand. The butchers have a law stock on hand,
and ure
s too engaged to attend he. This state of
the trade was expected, and consequently the consignments
are very small. A few purchasers are fused for some choke
beasts at fully Isle rata., but in other departments there is
literally nothing doing.
/Wotan of eta •• 1. a. 41. I Pm Woe at Itte. •4.4. 4.
pot Herefords $ 1: Rl4sr•d•Bh
Shert.borne • L•in.grool• • 1
Sweat $04144 bad 3 • 0 De. &Mena . •
041,i• . 0
I Ewa I; gonad quality •
• 0 I De. 44. MIMI
14541110 a 11•11.bna • Web.
Arlo IN marlo4. SS; drip sad 141,14. PM; 11111.6. 13; Om

SMITHFIELD HAY HARILET.-THIB DAY.
Mr. E. J. Davis morns trod. very heavy. Prime
mend., by, 675. to 705.; superior ditto, 72.. to 80s.;
inferior ditto, 60s. to 60s. ; rooms, 60a. to 60e. ; clover, Me. to
106 s. ; second cat, 701. to 90s. ; arra., Ms. to 30a.

BOARD OF TRADE RETURNB.-(THIS DAY.)

This morning the Board of Trade returns for the
month, and the eleven months ending the 30th of No-
vember, 1857, were issued. We subjoin a statement
of the total declared value of the exports of British
and Irish produce and manufactures during the
month and eleven months, including only tho "enu-
merated articles ":

For the month. For Moves months.
1866
1866
1867 ..... ... 7,617,662

Including the " unennmerated articles the aggre-
gate exports stand thus:
. .

For the mouth. For eleven months.
1856
1856
1867