MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The usual notice from the Lords of the Treasury to the Commissioners for the Reduction of the National Debt states the excess of income over expenditure, for the year ending 10th October last, at 5,256,3001. 2s. 2d.; one-fourth of which- 1,314,0751. 2s. 3d.—will be applicable to the reduction of the National Debt during the current quarter. Of this sum there will be applied to the purchase of Stock 1,034,0751.2x. 3c1.; to the redemption of Deficiency Bills, 280,0001. The investment of the above sum in Stock will cause a purchase of about 20,0001. upon the fear days in each week upon which those purchases are made. The immediate effect of the proceedings of the Bank-broker consequent upon making the purchases determined on was to produce an improvement in the prices of the Government Securities, which had already risen nearly per cent above the quotations of last week in consequence of rumours of the very favourable na- ture of the revenue accounts, and which were carried another per cent upward as soon as the increased purchases for the Sinking-fund began. The market con- tinued firm till this morning, but has given way in the course of the day; the closing price of Consols being 94 1; about per cent below the highest quotation of the week. The fall is attributable to a renewed uneasiness as to our relations with the United States, originating in the arrival of some private advices at Li- verpool of an unfavourable character. The Share-market in that town had fallen back considerably, in consequence of the intelligence alluded to. Till this morn- ing, all descriptions of Stock were buoyant. Bank Stock advanced to 206 for Money, and 207 for Account: Three-and-a-quarter per Cents rose to 981. The notice that 280,0001. will be applied to pay off Deficiency Bills, it being under- stood that this payment will clear of the last of these liabilities outstanding' has given an impulse to Exchequer Bills, and the premium is 328. The general feel- ing seems to be in favour of an improvement in the prices of the Public Securities, whenever the uneasiness upon the Oregon question shall be dispelled. Money is abundant; the rate of discount for the first-rate commercial bills being from 3 to 3it per cent.

No material change has occurred in the Foreign Funds; which are all, however, firmer than lately. The better description of Railway Shares have been in good demand, and im- proved in price; having in the course of the week been quoted at prices in advance of our last report. Toby, however, a change has occurred in the tone of the various markets, in keeping with the depression at Liverpool. The Scrip Shares are without any material improvement. Some few of them are current at premiums; but the great majority are unsaleable except at a discount. One change may be remarked in them—viz. that many shares are now saleable which have for some time been quite neglected; and though the demand for them is not extensive, it must be considered as improvement to be able to notice any possibility of disposing of them.

The French Shares are all generally firmer. The exchange of the various Shares now forming the Constituted Paris and Lyons Company is going on, and the improvement in the Shares of the Constituted Company—viz, to 51 and 6 premium—has given an upward impulse to all the Constituent Shares, which have risen to about 1 premium. No material change has occurred in the other French or Belgian Shares, except that, in common with others, the markets for them are firmer, and slightly better prices can be realized than were obtainable last week.

BATUIDAT, TWELVE O'CLOCK.

No change or business of moment has occurred either in the English or Foreign Funds; the prices of which are all the same as yesterday. Some bustle is observ- able in the Share-market; which is, however, heavy. We have to notice the occurrence of the following bargains: Direct Manchester (Rastrick's) 411; Direct Northern, 21; Great Western, Half-Shares, 93; do. Quarter-Shares, 17; Bir- mingham, 223 1; South-western, 771; Portsmouth Direct, 5i i; South-eastern and Dover, 391; Luxemburg, 3. SATITEDAT, Two o'CLecz.

In the absence of the usual support afforded by the purchases for the Sinking- fund, which do not take place on Saturday or Monday, and without the occurs aence of any but routine business, the English Funds have declined; Consols for Account closing at 94}i, being i per cent below the opening price. The Foreign Bends are without any material change. Spanish Three .per Cents are rather firmer. 3 per Cent Consols ... • .• • 941 1 Columbian ex Venezuela... 164 171

Ditto for Account 941 / Danish 3 per Cents 86 7

3 per Cent Reduced 954 4 Dutch 21 per Cents 601 11

31 per Cents 974 8 Ditto 4 per Cents 96

Long Annuities 10 7-16 9-16 Mexican 5 per Cents 304 1

Bank Stock 206 7 Ditto Deferred 161 171 Exchequer Bills prem. 28 30 Portuguese New 5 p. Cts.1841 58 60

India Stock 265 7 Ditto 4 per Cents 1845 . • • • 58 60

Braxilltm 5 per Cents 81 83 Russian 5 per Cents 113 115

Belgian 41 per Cents 96.7 Spanish (Active) 5 percents 281 9

Chili= 6 per Cents 98 100 Ditto 3 Cents 1842 39 4

The business of the Share Market'has been extensive; but most of the current varieties are heavy, at prices lower than yesterday. We have to notice the occur- rence of the following bargains, in addition to those given in the morning.

Share. Paid. Business done.

Direct Manchester (Rastriers) 54 41 Average Eastern Counties 14 16 221 4

25 Eastern Counties, New 4 16 71 100 Great Western 80 163 50 Great Western, half-shares 50 93 20 Great Western, Fifth-shares 20 371 6/ Stock London and Birmingham 100 223 1

25 London and Birmingham, Quarters 2 26

Average London and South-western 41.6.10 774 61

50 London and York 21 41

Stock Midland 100 154 40 Midland, New 12 291 30

50 Portsmouth Direct 21 51 1 25 Scottish Midland 11 64 Average South-eastern and Dover P 32.3.4 391

FORMON RAILWAYS.

20 Boulogne and Amiens 8 121 1

20 Dutch-Rhenish 5 71 8 71 20 Great Northern of France, Constituted 5 15 144 20 Luxembourg 4 3 21 20 Paris and Lyons (Laffitte's) 2 21 20 Paris and Rouen 20 391

20 Paris and Strasbourg (Ganneron's) 2 21 4

- Paris and Strasbourg (C'ompe de L'Est) 2 21