The Express.
London, England, 1859-12-20 00:00:00

THE EXPRESS, TUESDAY EVENING, DECEMBER 20, 1859.

CRYSTAL PALACE COIIAIY,-(21118 DAY.)

This afternoon the anneal meeting of the share-
astains la the shore cemephay was MI6 at the Bridge-hoose
Heal, Ilt.ll/4241raes, Cbeleure et the Board of Directoes,
Is the eitek.

The report b alroody ben pablhhed. It states that
there's ineemeal *merino emonatedto 134.0681. 124.14.
rd the eapendian to 88,7531. Is. dd., leaving a batmen to
**credit of rename kw tn. twelve swaths of 45,3151. 10e. Bd.
Whilst the est earnings of the year 1157-58 were
85,0741. 17..101., those of the put yen are 46,3161. 104.8 d. •
the improveneat arising almost entirely front the reducitioa;
which have bent made in the charges against revenue for the
year. no mate now available for division amount, with the
ruins brought forward, to 67,9401. 10e. I Id., which the
ablators propose to appsrtion as follows .—Te the payment
of preference dividend and interest on debentare stook far the
year, 96,8631. Si. dd. ; to the payment of a dividend ea the
ordinary shares of 2.. per share, which will amount to
70,0391, leaving a reserve of 11,2181.5.. &I. to be carried for-
ward to the nest year's account. The whole of the debenture
stock has bees tad. The balance of the purchase coney
for the land, 64,2381, es. ed., which under the original agree.
meat with lir. Schuster became due on Jaly 31, 1859, ha
been paid, and the property conveyed to the company es their
freehold. Only one item is added to the capital account, and
that lea sum of 3,5001. paid to the refreshment coat:adore
tor edditior stale to the plant.

. -
The CHAIRMAN, In moving the adoption of the report,
and the dedication of the dividend of the ordinary sharel,ob-
Nerved that the two subjects were coupled In order that there
might be bat on. discredits. The gross inoorse of the year
wee the largest the company had ever received.
No doubt the peeler pert of the increase was
des to the Handal Festival, but he did not anti-
cipant that there would be a corresponding reduc-
tion is Attire year. Leaving out the cost of the Handel
Festival and the cost of specialties, the ordinary iipenall-
tams would be reduced to about 61,0001. Besides that, there
were many items charged to revenue which might
fairly have been debited to capital. Theee items together
amounted to over 5,000/, leaving in round figurni 46,0001.
as the working expiates of the concern. That sum inclodse
2,0001. which would sot occur in every yew. The expendi-
ture won originally estimated at 60,0001.; but he had
every reason to hope that is future years it would
be reduced to 40,0001. or 42,0001. without impairing the
attractiveness of the palace. ha regards the capital account,
he estimated that the company was now liable for 66,0001.,
and had resources at their disposal to meet the
claims to the extent of 61,0001., leaving a de-
ficit of 15,0001. It was clear, therefore, that soars
mum would have to be devised to rain this latter
sum. It would be a very doubtful policy to add to capital,
while it would be equally impolitic to entrench upon the I,
principle of a reservehted. The shareholders had now for the
first time a clear yearly account before them, and it we.
des: that the workings of the year would not justify a
Yaw dividend then 2.., because, in order to make up that
dividend, they would have to reduce the reserve fund
by 14,0001. He hoped they would never de-
part from the course of having only annual ac-
counta. The scream* if preeteted half yearly, could
only wished. The experiente of this year proved the ad-
vantage of a 141111110 Led. It had enabled the directors to
Meal. the dividend; and if they adhered to the present
policy there could be no potion about it that the enmities
of the company menld soridarably and steadily improve is
veins. Re bellowed that 2a. wee the minimum point of the
thvidesd, =dew VIM new starting anew upon a sure and
might betis, fie ofiseshokiwo were now in posesseion of
en mod property, and esuidering that they were
sow at ire weir mark es nerds dividend, he confidently
Wined, Ant a 0 things cuslitend, a hopeful future was is
mon /ere As Gummy.

I 3 Li_o

1111 411
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SHARE LIST&-THIS DAL

Two o'CuWw. lee
The railway share market to-day is steady, with ft
only a moderate amount of basins.. Prime in It
nearly all instances are quoted the same se peter- IP'
day afternoon, viz.: London and North Wes-
tern stock 961 to t; Great Western, 691 to t
Midland, 109 to
.t; South Elden). 831 to I;
LICOSIKirit and Yorkshire, 991 to 100; Groat la
Northern, 106 to 107 ; Eastern Counties, bei to 89;
and Louden and South Western, 971 to 98. •
Lombardo-Venetian Railway shame are dull, at
2 13-16 to 16-16 prem. Pernambuco and Bahia have
not recovered. Grand Trunk of Canada stock has
declined, whilst Atlantic and Bt. Lawrence has ad-
vanced. The Indian shares are tolerably steady.
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MONEY MARKET.-THIS DAY.

Two o'Ctoci.

The fund' remain without alteration in price, and
there is no revival in business. In the share
markets there is also an entire absenoe of animation.
British railway shares are steady. French, Lom-
bardo-Venetian, end Brazilian dull, and Grand
Trunk of Canada lower.

The Three per Cent. Rent.. were quoted at Paris
thin morning, according to Mr. Renter's telegram,
70tr. 30c., ex div., being tic. lower than yesterday.
The Indian Five per Cent. government paper,

" enticed" for payment at the India office, has ;Ai;
day been placed upon the Stock Exchange official
lilt.

The New Indian Five per Cent. Loan remains
steady at 104 to ex die.

The ►hares of the Ban P►ulo (Brazilian) Railway
Ire quoted 1 to 1 prem.

Consols are officially marked 951, ex div., for the
account. The present quotation is 951 to 1. The
Three per Cents. Reduced have been dealt in at 961,
1, and 1 ; the New Three per Cents. at 951 and 1; the
Indian Five per Cent. rupee " enfaced " paper, at
96 and 961; the New Indian Loan, for account, at
104 k and 104, ex div.; the Indian Four per Cent.
Debentures of 1859, at 97i, 1, and 4; India
Bonds, at 61. prem. ; and Exchequer Bills, at 28s.
to 31s. prem.
The foreign stock market is very inactive.
The Turkish Loan of 1868 remains doll, at
64 to 1, whilst that of 1854 is quoted 76k
to 371. Basilian Three per Cent. Bonds are ra-
ther more offered. Other foreign stocks are quiet.
Balm are recorded as follows :—Dutch Four per
Cent. Ce rtificates, 100 ; Danish Three per Cents., 84
Equador New Consolidated Bonds, 13k, 13; Russian
Three per Cents. 1859, 651 ; Turkish Six per Cents.,
1854, for account, 77, 761; ditto Six per Cents.,
1858, 66; ditto for account, 64.
There were few applications at the Discount
Office at the Bank yesterday ; and in the general
market the demand is still far less than usual for the
season of the year. The beet bills are discounted
at 21 to 21 per cent.
A telegram from Vienna
cent. in Austrian stock.

a fall of * per

It has been resolved by the committee of the
Stock Exchange that the establishment shall be
closed on Monday next, the 26th instant. The day
will be a general holiday.
The steamer Africa hes arrived from New
York with 134,6571. in specie, and the Vigo with
43,0001.
Another sum of 6,4001. in gold has been raised
from the wreck of the Royal Charter. Of the
amount now in London no farther portion hsa yet
been sold for the Continent.

Tne prospectus of the San Paulo (Brazilian) Rail-
way Company (Limited) was imbued yesterday,
under the auspices of Meerut. Rothschild and Sons.
The Brazilian Minister in London is ex officio a
director, and it is scarcely necessary to observe that
the other names connected with the undertaking are
of the highest respectability. The capital is fixed at
2,000,0001., upon which 7 per cent. per annum
interest, payable in London, is guaranteed—viz. 6
per cent. by the Imperial Brazilian government, and
2 per cent, by the Provincial Legislature of San
Paulo. The object of the railway, which will be 88
miles long, is to supply the interior of the province
of Ban Paulo with a system of transport to its chief
poet, Santos. To show the necessity of the under-
taking it is mentioned that "the planters are now pay-
ing 161. per ton for the transport of coffee from Gm-
, pine to Santos (a distance of 98 miles),whilst the cost
of freight from Santos to Europe is only 60s. per ton."
The public are already familiar with the liberal con-
ditions by which the enlightened government of
Brazil seeks to promote the construction of railways.
The principal point wherein the conditions of the
present undertaking are morn favourable than
those accorded to the Pernambuco and Bahia
companies is tersely described ma follows The
company has obtained this valuable and dis-
tinctive' privilege, that on the capital of 2,000,0001.
being expended, in accordance with the concession,
the company is empowered to raise on the same terms
tie the original capital (that is to say, with a gua-
rantee of 7 per cent. for 90 years) any further sum
expended in payment of interest during the con-
struction of the line within the period fixed by the
concession." The amount for preliminary expenses
has been fixed by the Brazilian government at
46,0001., and an "experienced contractor," who
gives security to the amount of 100,0001., has under-
taken to complete the work in all respects, as
well as provide rolling stock and plant, for
1,803,0001. Consequently " the ample balance of
130,0001. of the fixed capital is left to meet adminis-
trative and other charges during construction." All
possible precautions appear thus to have been taken to
secure to the shareholders a minimum dividend of 7
per cent. per annum, free from all disturbing con-
tingencies. The company is allowed twelve years
from the 26th April, 1838, for the completion of the
railway, but the contractor will be bound to finish
the works in eight years from the date of his con-
tract. It must also be mentioned that " during the
continuance of the guarantee the government will be
entitled to one-half the net profits over 8 per cent.
per annum. When the dividends derived from
profits shall have exceeded 12 per cent. per annum
for two consecutive years, the government
has the power to modify the tariff rates,
so as to keep the dividends within 12
per cent. per annum." A large proportion
of the capital has already been applied for, and the
list is expected to be closed very speedily. The
shares touched premium in the morning, and
closed at to prem.
Letters from Holland mention that, in opposition
to the bill for the new network of railways, an in-
dependent member of the Dutch Chamber has intro-
duced a proposal for increasing the amount of the
'inking fund on Dutch government stock, instead of
permitting it to be diverted as a subvention for
railway purposes.
The traffic on the Trieste line of the Lombardo-
Venetian Railway Company for the week ending
the 9th Dec. was 26,3021., being 7,2141. more than
in the corresponding week of last year; and that on
the Lombardo-Venetian line 12,9761., showing an
increase of 5,9991. The aggregate increase on both
lines since lst Jan. is 789,3931.

The South Eastern Railway traffic return shows
this week au increase of 1,0651., and the Brighton
an increase of 5831. . _

The Stock Exchange committee have appointed
Friday next special settling day in the shares of the
Ocean Marine Insurance Company, which are to be
quoted in the official list.
A general meeting of the Ceylon Railway Com-
pany is to be held on the 6th January.
Tne interest is advertised on the Great Luxem-
bourg Company's obligation..
Mr. Simon Samuel, a gentleman well known in
City cireite, and many years a member of the Com-
mittee of Spanish American bondholder., died yes-
terday.

MONDAY EVENING.

Consols, which closed on Saturday at 951 to 1 ex
div., for the 10th January, opened to-day at the
' same quotation, and closed at 951 " buyers," after
improving in the interval to 951 " buyers." The
official business report is as follows :—Three per
Cent. Consols, for account (10th January), 951, 1,1,
ex din.; Three per Cents. Reduced, 951. 4. i• 4;
New Three per Cents., 951, 4, ; Bank stock, 227 ;
the New Indian Five per Ceot. Loan, 1041, 41, ex
div.; the Indian Four per Cent. Debentures, 1858,
971; ditto, 1859, 971, 971.
The New Indian Five per Cent. Loan closed the
same as on Saturday, at 104 to 1, ex div. India
Bonds have improved to 61. to 10s. prem.
Exchequer Bills remain quoted 29.. to 32a. prem.
In the foreign stock market the principal feature
was a fresh fall of fully 1 per cent. in the Turkish
Six per Cent. Loan of 1866. Realisations of a por-
tion of the recent issue are still being pressed. The
closing price was 64 to 4. The Loan of 1854 de-
clined 1 per cent., being lot quoted 761 to 77.

There were a few inquiries for Mexican Bonds.
Other foreign descriptions were inanimate.
There was a very active demand to-day for Lou-
don and County Bank shares, which have risen to
33 to I. Agra Bank were inquired for, and were
marked 73. The shares of the National Bank have
been dealt in 601 (251. paid). Red Sea Telegraph
shares were largely purchased, and have risen to f
to 1 prem. The position of these shares in the
market has long been regarded as anomalous, for
the undertaking has an unconditional guarantee of
4 per cent, from the British government, and the
company would be exempt from loss were the cable
to fail at any time. Mediterranean 'telegraph shares
experienced a reduction of 10s. London Genera.
Omnibus were rather firmer, at 1 11.16 to 1 13-16.
Great Ship were quoted 12s. to 12s. 6d. London
Dock stock was marked 661.

The shares of the Ocean Marine Insurance Com-
pany were quoted 11 to 11 prem., and those of the
Universal Marine to prem. The latter company's
board has been raised to the number of twelve, and
completed, by the addition of Mr. A.l). De Pass, of
the firm of Messrs. De Pus and Bons, of London,
and De Pass Brothers and Co., of Melbourne. We
are requested to state that the subscription-list will
be closed on Wednesday next.

MINES-THIS DAY.

Two o'CLocs.

In the mining market to-day East Wheal Russell
shares have advanced to 14 ; the present price is
13i to 14. Tamar Consols have been dealt in at
3. The other transactions have been principally in
shares in Stray Park, Grumbler and St. Aubyn,
Wheal Mary Ann, East Ceradon, and Wheal Cupid.
Prices are steady.
Prices of colonial mining shares present no altera-
tion of importance. St. John del Rey have been
dealt in at 19f, ex div., and Fortuna Mining at 31.
Great Northern Copper (South Australia) are quoted
I to 3-16 prem.
The committee of the Stock Exchange have
fixed Thursday next for the special settlement in the
shares of the Great Northern Copper Mining Com-
pany of South Australia, and authorised their quota-
tion in the official list.