The Express.
London, England, 1868-01-31 00:00:00

'
THE EXPRESi, FRIDAY EVENININ:, A/#1,,1.
ipARY 31, 1868.

BETTING IN LONDON.-(TRIB DAY.)

and that deficiency was increased to 2,3001. at the time of
his baakruptsy. He had filed his third deed on account of
hisikability on Ovarend, Gurney, and Co.'s stares.
[The aim was proeseding when our report lef LI

The muster to-day was not very numerous,
nor were the transactions extensive. The principal
feature was the strong demand for King Charming
for the Lincolnshire Handicap, all the 10's to 1 being
mapped up, and ultimately not procurable. 500 to 30
was taken about Czar ; bus the same rate of odds were
im-
mediately afterwards offered. For the Grand National
100 to 9 only was offered against Tusoulanum, and a shade
over this price would have been accepted. Daisy was
supported at 20 to 1, and 40 to 1 was asked for about Cap-
tain Crosstree. For the Two Thoniand 1000 to 400 was
offered to be taken about Rosicrucian, end Pace was in the
course of the morning backed for 200 f. at 9 to 1 and R to 1.
Prices

LINCOLN HANDICAP.
10 to 1 apt in
Charming (t & w)
100 to 6 Czar (t off)
100 to 6 Bessie Dixon (off)
20 to 1 Midwife (off).
LIVERPOOL GRAND NATIONAL
100 to 9 apt Tnsceilanum (off, tl2 to 1)
100 to 6 Fan (t and w)
100 to 6 Shakespeare (t and w)
20 to 1 Daisy (t)
25 to 1 Plover (off)
40 to 1 Captain Croat:Fee (t and w)
40 to 1 Mario (t)
TWO THOUSAND GUINEAS.
1000 to 400 apt Roaktrucian (w)
Bto 1 Pace (t and off)

MIDLAND
IS BANKING COMPDAY.)ANY (LIMITED)
(TH

The half-yearly meeting of the shareholders was
held at 1 o'clock, at the London Tavern ; Mr. T. S. Rice-
ABIIsON in the chair.
The report, which appeared in the Rona on the "..oth
inst., having been taken as read.
The City
moved its adoption. There was, be
said, nothing in it but welcome news. The balances and
the profits had increased, though not fast, surely, and he
might congratulate them on the present state of the bank.
In five years they had raised a reserve fund of 10,0001.,
and had paid off between $,000?. and 9,0001. of prelimi.
n .ry expenses, not by means of premiums on shares,
bat out of the profits of the bank. The profits hitherto
applied in the payment of preliminary expenses would be
henceforth available either for dividend or the increase of
the reserve fund.
Mr. BASIL T. Wooer., ILI% (a director) seconded the
motion.
Mr. Ahuan, after asking whether there bad been any
bad debts, expressed a hope that the item of 16,004. for
the purchase of the business would be gradually reduced
until it was eztinguished.
Another SHARFAI..i.mga deprecated the application of a
large proportion of the earnmp in the manner just sug-
gested. In his opinion when they arrived at alO per
cent. dividend it would be time enough to get rid of the
item for purchase. (Laughter.)
The CHAIRMAN in reply remarked that the bad and
doubtful debts were amply provided for. No institution
took greater care to write off sufficient for that purpose. As
regarded the item for the purchase money of the business,
he denied that it did not represent an asset, seeing that
the business of the bank would realise a much larger
amount than 16,0001.
The report having been adopted, and n diviilenl at the
rate of 6 per cent per annum declared, the meeting ter-
minated with the usual votes of thanks.

MONEY MARRET.-(171Ill DAY.)! At the meeting yesterday of the Ocean Marine
I Insurance Company, it was resolved to pay 6e. per
share additional interest, and a bonus of 1L per
share.
A meeting took place on Wednesday, at Liver-
pool, of the British and Foreign Marine Insurance
Company (Limited), when the directors' report—
which has already been published—was adopted,
and the usual dividend of 10 per cent. declared.
The following is from the report of the directors'
of the London and South Western Bank (Limited),
to be submitted at the general meeting on the 4th

On o'esaaff.

With the exception of home railway stocks,
which are flat, the markets for public securities
are extremely firm to-day. A large amount of
business has been done, although the dealers are
very busy with the fortnightly settlement, which
will be completed this afternoon. Many of the
transactions are speculative, but it is satisfactory
to notice an important increase in the number of
Land fide investments. Consols have risen 1 per
cent. Foreign bonds are in active demand, and
have advanced 1 to 1 per oent., the chief
inquiry being for Turkish and Peruvian.
The reduction in railway shares amounts to 1 to 11
per cent. The absence of purchases by the public,
and the increase in the supply of stock in the mar
ket, have induced further speculative sales for a
fall in these securities, notwithstanding the favour-
able dividends just announced by several com-
panies. Banking and financial shares meet with
inquiry, and show an upward tendency.
The demand for money has increased to-day,
owing to the Stock Exchange settlement and the
approach of the 4th of the month. The rate for 1
the beat paper, however, is still 11 to 1R per cent.
Short loans are in requeet in the Stock Exchange,
at 1 per cent.
Consols are quoted 93-,1 to I both for money and
the account (6th February), and the Three
per Cents. Reduced and New Throe per Cents.,l
031 to 94.
The railway market is flat, at a reduction of 1 to
f per cent. has occurred in Metropolitan, London
and North Western, Lancashire and Yorkshire,
Caledonian, Great Eastern, and Great Northern A
stocks. Annexed are the quotations :—Metropo-
litan, 116 to 1 ; Great Western, 46 to 1 ; Lon-
don and North Western, 1171 to 1181 ; Midland,
1051 to 1061 ; Lancashire and Yorkshire, 125 f to
126 ; Caledonian, 731 to 1 ; South Eastern,
591 to f ; Great Eastern, 3111 to f ; Great Northern,
107 to 108 ; ditto A, 1071 to f ; London,
Chatham, and Dover, 18 to 1 ; North British,
135 to 1 ; Brighton, 451 to 46 ; Berwick, 104 to
11 ; and York and North Iffidland, 931 to 96.
The foreign stock market is buoyant, and a fur
ther rise of 1 to 1 per cent. has taken place in
many cases. Turkish Bonds of 1862 have risen
1 per cent.—viz, to 61 to 62, and the Five per
Cents. of 1863 are P better, at 321 to 33. Greek
are at 131 to 1 ; Spanish New Three per Cents.,
NI to 37 ; Italian of 1861, 431 to f ; Mexican, 161
to 1; Egyptian of 1864, 801 to 901; and Peruvian
of 1863, 77f to 781.
American securities remain exceptionally quiet
The 5-30 Bonds are at 71; to 721, showing no
change ; Erie Railway shares, 481 to 49, being 1
lower ; and Illinois Central, 861 to 1.
Anglo-American Telegraph shares are steady, M
19,E to 1, ex div., and Atlantic Telegraph Eight per
Cent. Preference at 51 to f.
In the market for Bank shares there is an in-
quiry for several descriptions, and the tone of the
market is generally favourable.
Financial shares are inquired for. Inter-
national Financial are quoted 11 to lf dis., ex div.;
London,23l to 221 die.; General Credit, 2 7.16
ie.:: 5.16 dia., ex div. ; and Credit Fancier, 7 to
6f dia.
At the meeting of the proprietors of the York
City and County Bank, held yesterday, the profit
for the year 1867 was stated at 18,5731., from which
a dividend of S and a bonus of 6 percent., together
14 per cant , were declared, leaving 1,073/. to be
added to the reserved surplus fund, raising it to
51,8.23/.
An extraordinary meeting of the East India
Irrigation and Canal Company will be held on the
15th of February "to consider and confirm or
otherwise the terms of an arrangement proposed to
be entered into between the Secretary of State in
Council and the company."
A petition fur the winding-up of the Albert In-
surance Company (Limited), is to be heard before
the Master of the Rolls on the Bth of February.
The Caledonian Railway traffic return sh owe
this week a decrease of 3631., compared with the
corresponding period of last year.
lIALF-PAST ONZ o'Ctoez.
Consols and foreign bonds remain very firm, and
an important rise has taken place within the last
half hour in railway securities. London and South
Western stock has improved 2 per cent. ; London
and North Western, 11; Midland, 1; Lancashire
and Yorkshire and Metropolitan, ; ; Great West-
ern, „5 ; and South Eastern, Great Northern A,
and Caledonian, 1.
It is understood that the balance-2,500,0001.—
of the Orel-Vitebsk Railway Loan is likely to be
brought forward in the London market without
mach delay.
About 71,0001. in bar gold was withdrawn from
the Bank yesterday for the Continent.
The 200,000/. in gold now on the way from New
York to England is due early next week.
The proposed dividend of the North Stafford-
shire Railway Company is at the rate of 31 per
cent. per annum, against 4. The company will
carry over 3,0001.
The Lancashire and Yorkshire Railway traffic
return shows this week an increase of 2,3471. over
last year ; the London and South Western
an increase of 2,5841. ; the London, Chat-
ham, and Dover, including . the Metropolitan
Extension and Branches, an increase of 1,455/. ;
the Metropolitan Extension,separately, an in-
crease of 216/. ; the North Eastern, an increase
co: 5,3831.; the Manchester, Sheffield, and Lin-
colnshire, an increase of 2,650/. ; and the North
British, an increase of 2,3111.
The report of the directors of the Metropolitan
Railway Company, to be presented at the half-
yearly meeting on the sth February, refers to an
increaseof 11,443/. inthe half-year's traffic, and to
the opening of the widened lines from King's-cross
to Farringdon-street, which are now ready for
passenger traffic, states that the available balance
will permit the payment of a dividend upon the
consolidated stock at the rate of 7 per cent. per
annum, with a balance of 6,9981., and
generally expresses the " unabated confidence"
of the directors in the "continued prosperity" of
the undertaking. A resolution is to be submitted
to the meeting to " authorise the borrowing on
, mortgage of a sum not exceeding 200,0001., being
' one-third of the amount of the new redeemable
lshare capital." With regard to the Chancery pro-
' ceedings instituted against the company the report
says :
A Ile. Bloiam has filed • bill against the es= sad
the directors, praying for as iajimistion to the
payment of dividend; the bill contains very seasereas
allegations, and reviews the &emanate of tbe einepsay shoes
1862 ; charges a great variety al matters, mid yob WIN&
turb arrangements and payments sanctioned and ordered
by the shin eholders after full mosideration. Is the tidy
part of December last Mr. Bloxam invited the whom
holders, by public advertiamsent, to iota in legal peems
d.
hogs, although he was not at that period • ebarffiese.
On the 3rd of the present month, Sowever, a treader of
5001. E.:tendon Stool mime Into the office for regkeaselsa
in his name. The bill wee only Sled ess Introlay WI,
char
after,tors feel s
ilw that a ta el eresh •
cr filed under ash *gemstone's, will set resets
the favourable consideration of the court.
With reference to the comßany's revenue amount
must ehisi7
for the half-year, the point which
strike attention is that, on the one side of the SO.
count appears a sum of 57,0001. as " reosived trawl
Messrs. Ixelk acrd Co." (the contractors),
this sum is almost equal to the Amount or,
which it is now proposed to distribute a 7 per
cent. dividend upon the 1,800,0001. sea
ordinary
stuck.

February :
The accounts show a grow profit for the half.year (in
cluding 3051.75. 7d., brought forward from last account)
of 19011. 10a. 9d., and at' a deducting the usual charges
for expenses at beed.office and branches, interest to cus-
tomers, dm. there remains a disposablee balance of
6,371/. lls. 4d. The directors recommend that a dividend
at the rats of 5 per cent. oer annum (free of income tax)
be paid to the abareholders, and that the balance of
1,3711. Us. 4d., which includes 5201. 19e. for rebate on
bill' not yet due, be carried to profit and Is. new account.
Annexed is the substance of the report of the
directors of the Telegraph to India Company
(Limited), to be presented at the general meeting on
the 7th February :
The board, with the approval of the shareholders at the
meetings on the 12th July and 9th August last, confirmed
the provisional agreement with the Telegraph COIIMIC-
tion and Maintenance Company for the lease of their line
in Egypt, on payment, from lit July last, of 1,5001. per
annum, or three per cent. upon the capital of 10,0001.
The rental due 31st December, 1867 having been received,
the board recommend that a dividend at the rate of
three per east. per annum, free of income tax, be paid to
the shareholders for the half year ending :31st December,
1807. The future prospects of the company must depend,
as the shareholders are aware, upon the ricoessful carrying
out of the Anglo-Indian Telegraph Company, which the
board understand only remains in abeyance awaiting a
favouvable opportunity for proceeding with the under

taking.
The report of the directors of the Hercules Inan-
rance Company (Limited) announces the usual
dividend of 5 per cent. per annum.
At the meeting, yesterday, of the Eastern District
Freehold Estates Company (Limited), the directors
report was adopted. Owing chiefly to the stagna-
tion of business, the balance available, including
22/. brought forward, is only 8241.; but this sum
will admit of the payment of the fixed dividend
upon the capital paid in advance of cells, of a divi-
dend of 5 per cent. per annum on the ordinary
capital, and the carrying forward of a sum of 291.
The annual meeting of the Lands Improvement
Company is called for the 13th of February, when
a dividend is to be declared.
The colonial wool sales are fixed to commence on
Thursday, 27th February. The fresh importations
up to present date, since the beginning of last
sales, comprise 34,004 bales, viz. :—New South
Wales and Queensland, 6,39 ' • Victoria, 2,988 ;
South Australia, 2,1r2.1+11; New Zealand, 560 ; Cape,
21,804 ; total, 34,004 bales. And further arrivals
are expected.
The subjoined report upon the bullion market is
from the circular of Messrs. Sharps and Wilkins.
It mentions a somewhat important point—a partial
turn of the bullion current which has for so many
years set from this country to India :
Sines our last there liars been a good inquiry for bullies
of all kinds, for export to the continent. Mexican dollars
nave been in especial demand, and have improved to
es. 11d. per ounce. liar silver is also firm at a shade
higher price, sa. 7-16 d. per ounce standard. For Faris,
gold liar betel muck wanted, and is addition to the rather
large arrivals, several parcels of importance have bees pur-
chased from the Beak of England. The Indian exclian;es
appear to be at last turning in favour of this country, and
to have declined to a point at which silver can be exported
at a profit. A parcel of 50,000 sovereigns has actually left
Calcutta for England, sod it is thought probable that other
remittances of bullion f TOM India may shortly follow.
Subjoined is Messrs. Culverwell, Brooks, and
Co.'s report of yesterday's hide sales :
At the second aeries of hide sales for the year s good
demand was experienced. the whole of the quantity
brought forward -being sold et ful to :olvanced rates.
East India.—Ox and cow, partly ow ing to rho
tity offered, were in good request, the whole being sold
at very full prices to an advance of id. per Madru,
ka sold well. 67,270 hides otkreil and sold. East India.—
Buffalo—For the portion sold about late ratis were ob-
tained. Leather was in good request. East India selling
at fully previous prices. A uetralian was again 4d. per lb.
dearer. belted Uides.— Australian—The few uttered were
sold at about previous prices. Cape brought rather higher
rake. Barbary all sold. Dry Hides.—Penang realised
extreme prices. Dark.—Alimore was dull of sale and
mostly bought in.
The following is the official return of the cheques
and bills cleared in the Bankers' Clearing-house for
the week ending Wednesday, Jan. 29 :
Thursda, Jan. 23 04,C61,000
Friday, Jan. 24
Saturday, Jan. 23 • 0,5:,7,n00
Monday, Jan. 27
Tuesday, Jan. 28
Jan. '.H

251,164,0110
Jona C. PUOWK, Deputy•lnepector.
Bankers' Clearlnglollie,J.M. 30.
The total, which last week reached 113 i millions, is
now little over 31 millions. in neither period has
the course of business been disturbed by
any t
ose
ofment in the Stuck Exchange. The planatio
the decline appears to be that, now that the year
has been turned, mercantile affairs have fallen
back into their ordinary course, and business is
slack.
The return of the Bank of England for the week
ending Wednesday, Jan. 29, compared with that fur
the previous week, shows the following changes :
Circulation 1111111111
CirculPubiloation active Z4,474,530 Diereses .04,340
depoeite 3.345,200 Imes •203.346
Other deposits
Governmentepa anterities ia
banking drtment 14,068,246 Decrease 200,800
Other securities in banking
department 16,616,358 Decrease 104,628
0016 and bullion is both
departments
Seven day and other belle— 607,733 Decrease 61,440
The Kart 3,31.0,332 lacreme
Notes in reserve
Total reserve (notes k ooin)
in banking department 13,845,003 Increase 513,062
Owing to the influx of government deposits, com-
bined with the continued falling off in the amount
of the Bank's advances upon securities, the reserve
has experienced a fresh increase of more than half
a million. During the week the Bank parted with
89,0001. in gold for export in excess of the amount
received from abroad, vet the coin and bullion
show an increase of 118,7221., from which is is to be
inferred that the reflux of coin from the provinces
I continues.

ENGLAND.
yth and Sitt Vie., e. 32, for the
the }PTA day of January, 15M.
Parrinef.
Government debt A 11,015,100
Otter iecurittee 11,934,w0
Goi• cols and bul-
lion 21,V33,510
lever baba

711343.243.55:0

PASSIM?.
Government !new
rities L14.0C3.248
Otte'', Securities
Notes
OoW and Silver
Cola ...... 1,116,105

W?:9,"9

Y. MAY. DeVat7—Ciag;i: