The Express.
London, England, 1868-06-19 00:00:00

MONEY MARKET.-(THIS DAY.)

ONE O'CLOCK.

Owing to additional bond fide sales, the English
funds are flat to-day, and have experienced a
decline of 1 per oent. The supply of stock in the
hands of the dealers is now very large, while many
of the small operators leave accounts open for a
rise in prim!. The market for this security is
consequently very weak. Railway stocks are
slightly flatter, but foreign bonds meet with
inquiry. Banking, financial, and miscellaneous
shares are inactive. The circumstanee that the
Stock Exchange will be closed to-morrow, in con-
nexion with the Volunteer Review at Windsor,
tends to check fresh business.
The rate for the best bills in the discount market
is 11 per cent., and for loans in the Stock Ex-
change 1 to 11.
Consols are quoted 943 to 1, ex div., for money,
and 944 to 93, ex div., for the account (July 9),
and the Three per Cents. Reduced and New Throe
per Cents., 944 to 4.
The railway market is dull, and a decline of 1 to
1 per cult. has occurred in Midland, Great Eastern,
South Eastern, and Metropolitan stocks. Annexed
are the prices :—Caledonian, 733 to 74 ; London
and North Western, 1161 to 1; Great Western,
531 to 1; Midland, 1051 to 106; London and
South Western, 92 to 93 ; Great Eastern, 361 to
1 ; Brighton, 511 to 52 ; South Eastern, 751 to
4; Metropolitan, 1113 to 1; Great Northern, 1031
to 1 ; Ditto A, 961 to 971; London, Chatham,
and Dover, 201 to 1; Lancashire and York-
shire, 129 to ; York and North Midland, 931
to 944; Berwick, 1031 to ; and North British,
331 to 341.
Foreign stocks exhibit a favourable tendency.
Russian of 1866 are in request, and / per cent.
higher, at 90 to 91; Italian of 1861 are at 531
to 1, being 11er cent. better; Turkish of 1862,
65 to 1, showing a rise of 1; ditto
Five per Cents. of 1865, 391 to I—an
advance of 1-16; Brazilian of 186,5, 761 to
3; Ch lien of 1867, 93 to 96; Egyptian of 1864,
82 to 83 ; Mexican, 151 to 161—a decline of k ;
Peruvian of 1865, 87 to 1; Spanish of 1867, 371 to
381; and Turkish of 1858, 634 to 641.
The Indian Five per Cent. stock is quoted 1141
to 115, being; per cent. lower; the Four, 1041
to 105 ; the Bonds, 28a. to 335. prem. ; and the
Debentures, 1051 to 1. Bank Stock is 11. worse,
at 245 to 247. Exchequer Bills, 14s. to 18s. prem.
The market for Bank shares is steady. London
and Westminster, 711 to 3; London and County,
501 to 1; Union of London, 341 to 3 ; Anglo-
Austrian, 51 to 1 prem. ; London and Brazilian,
30 to 25 din. ; Imperial. Ottoman, 11 to 11 prem. ;
and Consolidated, to 11 prem.

Miscellaneous shares are unaltered. National
Discount, 61 to 1 prem. ; General Credit, 21 to 11
dia.; Credit Fonder, 31 to 1 per share ; International
Financial, 11 to 11 dia.; London, 22 to 20
die. ; Hudson's Bay, 161 to i; Egyptian
Trading, 5 to 41 dis. ; Telegraph Construc-
tion, 131 to 141; Atlantic Telegraph Eight per
Cent. Preference, 41 to 51 ; and Anglo-American,
221 to 1.
American stocks are without any special altera-
tion. The 5-20 Bends are quoted 73 to 1 ; Erie
Railway shares, 451 to 46 ; Illinois Central, 991
to 1001; Atlantic and Great Western Deben-
tures, 29 to 1; and the Consolidated Mortgage
Bonds, 34 to I.
TWO O'CLOCK.

The government funds are flat, at the above
mentioned prices. In the railway market,
Caledonian stock is offered, and has de-
clined I per cent., the present price being
73} to ?.. London and North Western and Great
Western are i lower, while Metropolitan has
improved I. Some of the foreign securities,
including Peruvian of 1865, Spanish of 1867, and
Turkish of 1865, are i to i worse.

FOUR O'CLOCK.
Consols are rather better, at 941 to 93, both for
money and the account.
Homo railway stocks are steady. Caledonian,
73,1 to 1 ; London and North Western, 1161 to 1;
Great Western, 531 to ; South Eastern, 751 to ;
Midland, 1051 to 106 ; Lancashire and Yorkshire,
129 to 1 ; Metropolitan, 1111 to ; and Brighton,
511 to 52/.
Foreign bonds exhibit no movement of import-
ance. Orel Vitebsk, 81 to 1; Nicholai, 641 to
651; Spanish of 1867, 37/ to 381 ; Italian of 1861,
531 to # ; and Turkish of 1885, 391 to 1.
About 30,0001. in bar gold has been sent into
the Bank.

At Paris to-day the Three per Cent. Rentes
opened at 70fr. 25c. for the account, being about
the same as yesterday.
Messrs. Baring Brothers and Co. yesterday re-
ceived a remittance from Carthagena of 6001. on
account of the New Granada dividends.
Lord Redesdale has re-inserted in the Metro-
politan Railway Companies Bill the clause em-
powering the holders of Extension stock to
exchange their holdings for ordinary stock, sub-
ject to the condition that the 2 per cent. payable
on conversion, instead of being carried to the divi-
dend fund, as was unsoundly proposed, shall go to
the credit of capital. This course was taken on
the application of the recent litigants among the
Extension holders. It is thought likely that the
bill will be:read a third time to-day, and obtain
the royal assent as early as Monday next. It is
presumed that the Extension holders will then be
at liberty to make their exchange into ordinary
stock. A correspondent suggests that here the
question arises whether, if this course be taken
prior to the 30th inst., the whole of the so con-
verted stock will not be entitled to come in for
dividend pan pants with the already existing or-
dinary stock, out of the net receipts of the old
line. In the course of the discussion yesterday
Lord Redesdale remarked that he considers the
whole bill a very bad measure, only to be de-
fended or explained by the financial position of
the company,

The Universal Marine Insurance Company
(Limited) notify that their transfer books will be
closed from the 22nd inst. to the Ist July prepara-
tory to the payment of interest at the rate of 5 per
cent. per annum for the half-year ending the
30th inst.

The transfer boob of the Madras Irrigation
and Canal Company are to be dosed from the
29th inst. to the 11th July, both days inclusive,
for the purpose of making up the interest amounts
to the 30th inst.

With reference to the Bast London Railway
Company, it is notified that the interest payable
by the contractors on the shares for the half-year
ending the 28th instant, will be paid on and
after the 6th July. _ _ _

The coupons of the Egyptian Government Rail-
ways Debentures Loan, due the Ist July, will be
paid at the office of Mews. Fruhling and Gamboa
on and after that date.

Mussels advice, dated Tuesday, complain of the
policy of the National Bank of Belgium in main-
taining the rate of discount at 3 to 3k per cent.
whilst money is vainly offered in London and
Paris at 2 per cent., or lees. These letters state
that the Rank of Belgium, being sure of its mono-
poly, feels able to disregard the complaints of the
public. Belgian traders are accordingly recom-
mended to send their bills to London or Paris.

Lefton from Paris state that fears are enter-
tained there of the effects of the long absence of
rain, whilst the heat has prematurely forced some
of the crops. The beet, for example, has suffered