The Express.
London, England, 1868-04-16 00:00:00

the result being to exclude for the time a number
of bond fide app '
cants. No doubt measures are being
taken to guard against such default in luture.
Mr. Charles Hermann Go/when, of the firm of
Fruhling and Goachen, and Mr. Alfred Charles to
Rothschild, of Rothschild and Sons, were yesterday
elected directors of the Bank of England, in addi-
tion to twenty-two oth,,r gentlemen who have
served before.

The directors of the Royal Mail Steam Packet
Company have just decided to recommend to
the proprietor., at the meeting on the 29th instant,
the payment of a dividend of 11. per share, free of
income tax, for the half-year ended the 31st Dec.
last.

Mr. Lewis H. Haslewood has loaned the pro-
spectus of a loan of the Indiana Southern Railway
Company to the amount of 10,000,000 dole., or
2,000,0001., in 7 ”r cent First Mortgage Bonds of
1,000 dole. or 2001. each. The price of issue is
80 per cent, or 1601. per bond. It is provided that
By the tonna of the bonds both principal and interest
are payable in New York, but the oompsny has agreed to
pay them in British starling is London. Bach bond bears
iaterest at the rate of 7 per cent. on its nominal amount
(equal to 81 per Gent on the prim of issue), payable on
lst August end Ist February in each year (commencing on
let August, 1868), after the rate of 4s. per dollar. The
bonds an redeemable by means of an accumulative Mat-
ing fend of 11 per mat per annum applied half-yearly, on
tat Aut and lit February (oommencing on lst Feb.
may, 1869).
It appears that the railway company have con-
veyed the line and all their other property to two
New York trustees, as security for the bondholders,
while the trustees of the funds realized by the loan
are Sir John Lubbock, Bart., and Mr. William
Gladstone, of the firm of Thomson Boner and Co.,
the object of the trust being to crests a redemption
or sinking fund, sad to apply the remainder to com-
plete the line. After payment of preliminary ex-
penses, the money required for the purposes of the
sinking fund is to be invested in British govern-
ment annuities in the names of the trustees. Pro-
spectuses and forms of application may be obtained
from Mr. Haalewood, or from Messrs. Roberts,
Lubbock and Co., or Messrs. Herniae, Farquhar,
and Co.

The London and North Western Railway traffic
return shows this week an increase of 1,5061. over
last year ; the Midland an increase of 6,128/. ; the
Great Eastern an increase of 4,7211. ; the Great
Northern an increase of 4261 ; the Great Western
an increase of 3,137/. ; and the London and South
Western an increase of 5,672 L The receipts of the
latter company were swelled by the preparations
for the Volunteer Review ; but in the correspond-
ing week of last year the Oxford and Cambridge
boat race took place.
The traffic return of the Grand Trunk Railway
of Canada, for the week ending the 28th ult.,
shows an increase of 6,1781. compared with the cor-
responding period of last year.
The directors of the Pacific Steam Navigation
Company have made a call of fit. 10s. per share on
the shares of the bonus issue of 1867, 281. paid,
payable by the Ist of May.
The annual meeting of proprietors of the National
Provincial Bank of England is fixed for May 14.