The Express.
London, England, 1861-07-26 00:00:00

36 113 adl
116 II zd

It

111

LATEST SPORTING INTELLIGENCE.

Off ILICTRIC TZLEORAPH.)
CANTERBURY MEETING.-(THIS DAY).

EAST KENT HANDICAP. About two miles.
Yorkshire Grey, Mary Stuart, Ipswich, Luckoow, Fore-
tog:4'lll7as, Midas, and Dorking are bare.
—Lancuiter and Prince Imperial.

BRIDGE STAKES. Bin ll:Waage.
Hedgehog sod The Principal are here.
Pargerso.—Redpole.

GRAND STAND PLATE. About a mile aa quarter.
Yorkshire Grey, Marvell, Ipswich, Mary Sturt,top, Lucknow, The Don, Mermaid, Conundrum, Esther,
Dorking, and New Forest Deer t are here.
EXPICTCD. —Dartmoor.

ENTRY FOR STEWARDS' PLATE. Seven furlongs.
Lady Fumy, 2 yrs, to be sold for 100/. ; Hedgehog. 2 yrs,
701. ; nen, 401. ; Worsley, 2 ye., 401. ; Lord St. Vincent,
40/. ; Lily of the Valley, 401. All are here.

ENTRY FOR BARHAM DOWNS STAKES. Five
turlougs,
Lady Finny, 2 yrs, to be sold for 00/. ; Misfire, 2 yra,
401. ; Maria. 3 yrs, 30/. ; Wolsey, 2 yrs, 30/. ; Boredo
c, 3 yrs, 301. ; Mercury, 3 yn, 30/. ; Liberality, 2 yrs,
301. All are here.
3evend others expected this morning.

READINO HOR81•31 CATTLE Yam—Yesterday
the above mart, known as Reading " Cheery Fair," was held
for the sale of hones and stook, and
sbrought together
a large assemblages of farmers and dowers of Berkshire
' and the neighbouring counties. Tho supply of cattle
brought in for sale was rather limited as roinpared with pre-
vious fairs, but most of the stock was in good condition.
Well-bred dairying stock readily found buyers, but lean sod
young cattle were in dull request. In the hone fair very
many splendid young animals were exhibited, and speedily
commanded buyers at high figures. The following were the
selling pnces of horse; and stock :—Well-bred upstanding
young horses, suitable for pnvate carriages, broughams, Sm.,
made from 50 to 60 guineas ; and strung made ditto, adapted
for =chine work, van purpose', Ice., very quickly found
buyers at from 28 to 40 guineas ; seasoned cart horses
brought from 18 to 23 guineas, sod riding hones and nag
Dolts 24 to 40 guineas ; and superior selections of the above
realised much higher figures ; ponies sold at from 8 to 14
guineas. Stock :—Well-bred mdch cows for country dairy-
ingbrht 16 to 18 guineas, small cows in full milk 134. to
. and-cows to calve down 8/. to 111. ' • stock Wen Gl. to
84.,iiteers W. to 111., and yearlings 4!. tos/.; fat cows 191. to
21/., ditto heifers 15!. to 174-, and bulls 18/. to 201. The
stock fair was a dull one, and muck of the settle was SWAMI
out mould.

MONEY MARKET.--(THIS DAL)

Two o'CLoci.

The funds to-day have not been affected by the
explanations given last night by Sir Charles Wood
with regard to the Indian finances. Consols are
quoted the same as they closed yesterday. In the
other markets there is an entire absence of anima-
tion and little change in prices.
At Paris this morning according to Mr. Reuter's
telegram, the Three per Cent. Rentes opened at
Var. 75c. being without change.
The scrip of the new India loan is dull, at 991
to 100, whilst the stock has declined to 99A to *.
Consols are officially marked 891 and 90
for money, and 90 for the account. The present
quotations are 891 to f for money, and 891
to 90 for the 7th of August. The official busi-
ness report is as follows :—Bank Stock, 232,
230 ; Three per Cents. Reduced, 891, I,
; New Three per Cents., 891, 1,
; Thirty Years Annuities, 1885, 151 ;
India Stock, 219 ; ditto Five per Cent. Stock,
991, 1, f ; ditto scrip, 100, ; ditto Four per
Cent. De'aenturea, 1803, 961 ; ditto Bonds,
11s., 7s. 10s., dis. ; Five per Cent. " enfaced "
rupee paper, 941 ; Exchequer Bills, March, 10s.
dis. ; ditto June, 3s dis., par.

The Turkish Loan of 2854 is rather flatter, at
781 to whilst that of 1858 is well supported, at
67 to 68. There is no change iu Mexican
Bonds. Peruvian Cribarren have met with
some business between 86 and 86 ex div.
Sales are recorded as follows :—Austrian Five per
Cents, 1869, 65, ex div. ; Brazilian Old Five per
Cents., 982, 991 ; ditto Four-and-a-Half per
Cents., 1862, 87 ; Chilian Six per Cents., 103 i ;
ditto Four-and-a• Half per Cents., 811, 1;
Dutch Two-and-a-Half per Cents., 631, ex
div. (exchange 122.) ; ditto Four per
Cent. Certificates, 992 ; Mexican Three per
Cents. for account, 22i, ; New Granada
Deferred, 4, ; Peruvian Uribarren Four-and-a-
Half per Ceuta., 851, 85, 86, ex div.; Portu-
guese Three per Cents., 1853, for account,
47, ex div.; Russian Four-and-a-Half per
Cents., 90, 891, ex div. ; Sardinian Five per
Cents., 79 ; ditto for account, 78 ; Spanish Three
pre Ceuta., 48j, ex div. ; Turkish Six per Cents.,
1864, 781 ; ditto Six per Cents., 1838, for account,
671, },l.

The supply of money in commercial channels yes-
torday continued considerable, whilst the demand was
only moderate. A more favourable impression appears
to be gaining ground respecting the future course
of the market, it being thought that there is a fair
prospect of a reduction in the Bank minimum to
5 per cent. within the next few weeks. At the
Bank of England the applications were rather
more numerous, but still very moderate. In
Lombard-street 54 to 51 were the terms for good
paper.
The tenders for the additional 1,000,0001. of the
Victoria Six per Cent. Debentures were lodged yes-
terday afternoon at the London and Westminster
Bank. The negotiation did not excite by any minim
as much interest as on former occasions, yet the
total number of tenders reached 481, representing
an aggregate of 2,300,0001. The committee of the
Assaciated Banks having very injudiciously fixed
the minimum price at 105 k, it was announced that
the total taken at or above that price was only
230,0001. It was at the same time intimated that
the committee had resolved to keep the subscrip-
tion list open until 2 o'clock to-day (Friday) at
1054. The persons whose tenders were ac-
cepted yesterday are not to have any preference in
this second subscription. The proceedings are
noticed in another column. It is understood that
the applications at and above 106, which
was fixed by public opinion as the pro-
' bable reserved price, are more than suffi-
cient to cover the 1,000,0001. These the com-
mittee, by the narrow course adopted, reject. The
result is that, so far, the loan wears needlessly the
aspect of a failure. Its prestige is certainly im-
paired, and simply because the price fixed is too
close to the actual selling price of the existing stock.
Yesterday, while the minimum was finally agreed
upon at 1034, the previous issues were currently sold
in the market at 1054. The banks negotiating these
loans are not well advised in this matter. There
are two classes who support loan operations—the
investor and the speculative capitalist. Both should
be offered a reasonable margin of profit for the
trouble and uncertainty they undergo, or these new
loans will necessarily decline in popularity. This
is the third time the Victoria government have
oome to the London market as borrowers ; and
certainly the results of I,their,transactions hitherto
have not been of • sufficiently remunerative cha-
racter to the lenders to incite them to come forward
very readily on future occasions. It must always
be borne iu mind that these securities have nothing
but • colonial guarantee, and that they stand iu a
very different position to the India loans, which are
raised by the home government, and administered,
like the English funds, at the Bank of England. It
ia obviously impolitic, therefore, for the Banks to
pursue • " *crewing" system calculated to give as
great a chance of loss as of profit, and to deter sub -
aoriptions hereafter. The affair has excited great
dissatisfaction.

The amount of Australian gold purchased by the
Bank yesterday was no leis than 155,000/., and a
further large sum will be taken there to-day aud
to-morrow.

The Berens, from Melbourne, with 42,0001. in
gold, has at last reached the Downs, after a
lengthened passage of 143 days.
The outgoing steamer with the Bombay mail will
take only 16.1601. in specie—viz., 11,0101. silver
and 5,1601. gold.
The sake of cotton at Liverpool yesterday have
mini reached the large total of 20,000 bales, and
Waluesday's rise of id to per lb. is supported.
The Eastern Counties Railway traffic return
shows this week an increase of 4011. ; the Great
Northern an increase of 3,3491. ; the Great Western
a decrease of 1,193/, ' • the London and North
Western an increase of 1,1741. ; the London and
South Western au increase of 980/. ; the Man-
chester, Sheffield, and Lincolnshire an increase of

308/.: the North Eastern au increase of 4,580/. ;
the Midland an increaso of 3,490!. ; and the
Lancarhire and Yorkshire a decrease of 208!.

The half-yearly meeting of the Midland Railway
Company is called for the 20th August, at Derby,
and will be made special to approve an agreement
for the transfer to this company of the Duraley and
Midland Junction Railway.
The half-yearly meeting of the Eastern Counties
Railway Company is called for the 29th August.
An extraordinary meeting of proprietors of the
Bank of Egypt is called for the 6th of August.
Application is about to be made to the Stock
Exchange to appoint a settling day in the shares of
the China and Japan Steam Navigation Company.
A petition for the winding up of the " District
Savings Bank, Limited," the principal office of
which is at 67, Fleet-street, is to be heard iu the ,
Bankruptcy Court on the 7th of August.
Mr. Philip Secretan, of Lloyd's, has been ap-
pointed underwriter to the Oriental and General
Marine Insurance Company.
The position of the market for American secu-
rities is noticed as follows by Messrs. D. Bell, Son,
and Co. :
la the market for American securities daring the last
week, the actual business has not been large, but the
market has remained steady, and prices firm.
The return of the Bank of.Englaud for the week
ending Wednesday, July 24, compared with that
for the previous week, shows the following alumnus :
Circulation issue
Circulation active
Public deposits 4,1?4,460 Increase 1,177,255
Other deposits . ....
Government securities is
banking department
Othemsecurities in banking
department
Gain sod bullies in both
departments 11,721,090 Increase 141,947