The Express.
London, England, 1868-05-15 00:00:00

MONEY MARKET.--(THIS DAY.)

ONE O'CLOCK.

The stock markets are quiet to-day, with very
few dealings. Notwithstanding the beauty of the
weather, the dulness of the corn market, and the
prospect of a further influx of gold to the
Bank of England, the investments of the public
are upon the most moderate scale. Consols
are unaltered, but some of the railway stocks have
slightly improved. Foreign bonds have receded in
a few cases. Banking, financial, and miscellaneous
shares present no variation.

The applications for discount are upon a very
moderate scale, but the rate for choice paper is
still 2t. 2} per cent. Short loans are obtainable
in the Stock Exchange at 1 to 1} per cent.
Consols are quoted 94k to 1, with div., for money,
and 921 to 93, ex div., for the acceunt(June 4), and
the Three per Cents. Reduced and New Three
per Cents., 921 to 1.
Railway stocks are rather firm, and a rise
of } to } per cent. has occurred in several
of them. Caledonian, 74/ to I ; London
and North Western, 115 i to / ; Great
Western, 54 to / ; Midland, 1061 to 1 ; Lon-
don and South Western, 90 to 92 ; Great
Eastern, 34 to 341 ; Brighton, 531 to 1 ; South
Eastern, 74% to 1 ; Metropolitan, 1111 to 112 ;
Great Northern,lo2 to 1 ; ditto A, 96 to 1 ; Lon
ion, Chatham, and Dover, 18} to 1; Lancashire
and Yorkshire, 1271 to 128 ; York and Nerth
Midland, 94 to 95 ; Berwick, 1021 to 103} ; and
North British, 334 to 34.
In the foreign stock market Mexican, Spanish of
1869, and Turkish of 1865 have declined Ito per
cent., while Egyptian of 1864 are } better, at 81 to
82. Brazilian of 1865, 751 to 76 ; Chilian of
1867, 95 to 96 ; Italian of 1861, 481 to I ;
Mexican, 15} to 3; Peruvian of 1865, 821 to
831 ; Russian of 1866, 861 to 871 ; Spanish of 1867,
35} to 1 ; Turkish of 1858, 591 to 60 ; ditto of 1862,
62 to 63 ; and ditto of 1865, 344 to ;.
Indian stocks are steady. The Five per Cents.
are quoted 1151 to 1161 ; the Four, 1021 to 1 ;
the Bonds, 15s. to 20s. prem. ; and the Deben-
tures, 106 to 1. Bank Stock, 245 to 247 ; and
Exchequer Bills, Bs. to 13s. prem.
Hudson's Bay shares have declined 2s. 6d., the
present price being 14 to jj. Other misorilla-
aeons securities are unchanged. National Dis-
count, 51 to 6 prem. ; General Credit, 22 to
dis. ; Credit Foncier, 7k to 7 dis. ;
International Financial, 2} to 1/ die. ; London, 22
to 20 dis.; Egyptian Trading, 5 to 4i dis. ; Tele-
graph Construction, 141 to 3 ; Atlantic Telegraph
Eight per Cent. Preference, 5) to 1 ; and Anglo-
American, 231 to 1.
Transactions to a moderate extent have been
reported in American securities. The 5-20 Bonds
are quoted 70i to 8 ; Erie Railway shares, 45} to
46 ; Illinois Central, 941 to 95} ; Atlantic and
Great Western debentures, 291 to 30 ; and the
Consolidated Mortgage Bonds, 321 to 33.

The only alteration in bank shares is a reduction
of 2s. Gd. in Consolidated, viz. to fl to prem. Lon-
don and Westminster, 701- to I ; Union of London, 341
to ; Oriental, 411 to 42/ ; Anglo-Austrian, 4k to
5i prem.; London and Brazilian, 30 to 25 dis. ;
and Imperial Ottoman, ito prem.
A petition for the winding up of the Athens
and Piraeus Railway Company (Limited) is to be
heard before Vice-Chancellor Giffard on the 25th
inst.

An extraordinary meeting of the Great Barrier
Land, Harbour, and Mining Company (Limited)
will be held on the 29th Mat., for the purpose of
passing a resolution to wind up the undertaking
voluntarily.

The ordinary general meeting of the British India
Steam Navigation Company is called for the 27th
inst., when a dividend will be declared.
A special meeting of the Belfast Central
Railway Company is convened for the 27th inst.,
for the purpose of considering and, if so determined,
approving a bill now pending in Parliament,
entitled, " An Act to empower the Belfast Central
Railway Company to construct new railways and
tramways and a central station, and to abandon
portions of their authorised undertaking, and for
other purposes."
The joint traffic return of the Caledonian and
North British railways shows this week an increase I
of 1,7201. over last year.

HALF-PAST ONE O'CLOCK.

Home railway stocks are flat, and have declined
in several cases. Caledonian and Great Western
are Ito it per cent. worse. South Eastern, how-
ever, has improved Some of the foreign bonds,
including Mexican, Spanish of 1867, and Turkish
of 1865, have advanced 4to 1 per cent. Consols
are without variation.

We have now arrived at a season ►hen a con-
tinuance of fine weather may be expected to im-
part great intrinsic strength to the stock markets.
Thus far the season is one of great promise, and
the crops appear to be unusually forward.
The sum of 31,0001. in bar gold was sent into the
Bank yesterday, while 3,000 sovereigns were taken
out for Egypt.

-- -
The City of Boston has arrived from New York
with 155,000 in specie.
New York telegrams announce a further ship-
ment of 90, 000/. in gold for Europe.

The Great Western Railway traffic return shows
this week a decrease of 1601., compared with the
corresponding period of 1867; the London and
South Western, a decrease of 9131. ; the London,
Chatham, and Dover, including the Metropolitan
Extension and branches, an increase of 114/. ; the
Metropolitan Extension, separately, an increase of
323/. ; the North Eastern, a decrease of 5211.; the
Lancashire and Yorkshire, an increase of 3,059/.;
and the Manchester, Sheffield, and Lincolnshire, a
decrease of 1,472/.

At the meeting yesterday of the proprietors of
the National Provincial Bank of England the net
profits of 1867 were stated at 226,1191., and a
bonus of 7 per cent., payable in July, was eclared,
making with previous payments a total distribu-
tion at the satisfactory rate of 21 per cent., free of
income-tax, for the twelve months. The chairman,
Mr. R. B. Wade, while referring to the obstacles
to profitable banking operations during the past
year, arising from the dulness of trade, stated that
the bank has transacted a large and sound business,
nearly every branch showing the opening of new'
accounts and a general increase of prosperity. Mr.
A. Robertson, the late manager, was elected a
director, in the room of Mr. Laurie, deceased.

It appears that Messrs. Bischoffsheim and Gold-
schmidt, the contractors, have determined to aban-
don the Spanish Colonial Eight per Cent. Loan,
in conaequenoe of the Spanish ministers having
refused to introduce a bill into the Cortea formally
affirming the imperial guarantee.

It appear froiiyeste;day's telegrams from Vienna
that the Finance Committee of the Ric&troth has
actually voted in favour of imposing a tax of 25
per cent. upon the coupons of the Austrian State
Debt. In other words, ►t is proposed to knock off
one-fourth of the dividends. It is somewhat
humiliating in this day to have to point out that
such a measure involves a violation of the first
principles of justice, inasmuch as it contemplates
a large and unforeseen impost upon a class of per-
sons who have no voice whatever in its
enactment, or in the disposal of the funds
sought to be raised therefrom. At a
moment when there seems to be a deliberate inten-
tion of degrading Austria to the rank of a default-