MONEY MARKET.

STOCK EXCIIANOr, FRTDAY AFTERNOON.

The appearance of the Money Market has been of a firmer character during the past than for several preceding weeks. Money has been, however, far from abundant in the commercial circles ; although of the numerous failures which were anticipated in the present month not more than the stoppage of one house of importance has occurred. From the decided improvement manifested in the tone of business in the Stock Exchange, it may be hoped that the financial crisis is over. The improvement is not confined to English Funds alone, but has been very remarkable in the altered value of the Railway Shares ; many varieties of which have risen from 8/. to 10/. per share, while some of the cheaper description, which were almost unsaleable, have acquired currency at a less proportional advance. The rise in the English Funds has been in some degree occasioned by the belief which prevailed until yesterday, when it was negatived by the breaking-up of the usual meeting of the Bank Directors, that the rate of discount would be lowered to 4' per cent. An opera- tion of considerable importance has been undertaken by the Bank, with a view to increase their stock of gold ; by means of which, the Directors will be enabled to exchange Exchequer Bills for bullion. They have entered into contract with an eminent commercial establishment, which by its agents in l'aris has borrowed a large sum of the Bank of France, on available secu- rities, under the condition of receiving the amount in gold : this gold being sent to London, upon its arrival the house in question will take Bank Exchequer Bills in exchange for it. The Directors will thus effect two desirable objects at the same time—supply themselves with bullion, and get rid of Exchequer Bills, without any important effe9t being produced upog the market value either of bullion or the National Securities.

The Consols have been as high as 891, but have since receded to 88a. Ex. chequer Bills have been firm ; and, in the absence of Bank sales, the premium. on them seems likely to improve still further. There is a great scarcity of small bills ; the premium of those under 10001. being 2s. to 3s. above that of the large ones. In the Foreign Market, Spanish Stock has been tolerably firm ; although the price has on more than one occasion given way upon reports of the fall of Bilboa. To day, in connexion with the news of a victory over GOMEZ, the price at one moment touched 20 ; it has since receded, and is now 191. Portuguese Stocks have been steady, fluctuating between 431 and 45. The Dutch and other European Stocks have improved with the altered ap- pearance of the English Funds ; but the business transacted in these securities is comparatively of limited amount, the interest of the speculators being for most part concentrated upon the Consul Market.

SATURDAY, TWELVE O'CLOCK.

Very little business has occurred this morning; and with the exception of Consols, scarcely any of the current securities have varied from the quotations of yesterday. Notwithstanding the high prices of the French Three per Cents., the English Market evinces signs of weakness: it opened at 13,% 89, and has since declined, without any transactions of importance, to 863 7,, at which price it is heavy. Exchequer Bills are 11 13 preen., and small 15 prem. India Bonds 10 prem. The Railway Shares are not quite so much in de- mand : the following prices being inlsome instances from 11. tot.,/. below those of yesterday—Great Western 12 13 prem. ; London and Birmingham 65 70 prem. ; Brighton, Stevenson's, 11 2. prem. ; Ditto, Rennie's, la 11 dis.; Greenwich 11 2/ prem. ; Southampton 7 5 dis. ; South Eastern par.

SATURDAY, FOUR O'CLOCK.

The afternoon has passed almost as inactively as the morning. Consols for Account have been sellIrs at 98i, but close buyers at that price. Spanish Stock has been 191 1, and the closing price is 198 L. Portuguese Five per Cents. and Three per Cents. are nominally at our previous quotations. The failure of a house connected with the Colonial Market has occurred in the cou es of the afternoon ; but the establishment is of minor importance, and its engage- ments are not by any means extensive.

3 per Cent. Consols shut Ditto for Account

881 f

3 per Cent. Reduced

New 34 per Cent Antis shut India Stuck

Bank Stock

Exchequer Bills 11 13 prem.

Belgian 5 per Cents 1004 Brazilian 5 per Cents 80 1 Danish 3 per Cents.

74 5

Dutch 24 per Cents 531 4 Mexican 6 per Cents 214 22 Portuguese Regency 5 p. Cts. 444 45 Ditto 3 per Cent. ...... .... 294 Ditto 5 per Cents 1836 Scrip .

-

Prussian (1818) 5 per Cect ..

- Russian (1822)5 per Cent ...

1071 4

Spanish (1835) 5 per Cent...

194 i