MONEY MARKET.
STOCK EXCHANGE, FRIDAT AFTERNOON.
Several mercantile failures have occurred during the week ; but the houses that have become insolvent were of minor importance, and it would be of little interest to our readers to be furnished with their names. Considerable alarm was occasioned by the intelligence received from Paris of the failure of the old- established house of PIEBRUGUE, VERNINACK, and Co., which suspended its payments on Saturday last: this establishment was of the first class, and its head had long filled the office of President of the Tribunal de Commerce. It was at first feared that its insolvency might affect some of its English correspondents; but, as its connexions here were of the first character, they have been untouched, although one of them is a sufferer to the but this expectation has been disappointed, and no such remittance has arrived. ports of the failure of some City or West-end bankers : as these reports have turned out to be fabrications, we only notice them as indicating ment. It was anticipated that the Great Western steam-ship, which ar- the extreme alarm prevalent among commercial men at the present mo- rived on Monday, would have brought remittances for the dividends upon the these dividends would be paid. Upon presentation of the coupons, however, at Indiana Bonds, the non-payment of which we noticed in our report of last week ; on Monday, were in some alarm, as until that day it was uncertain whether The holders of Illinois Sterling Stock, the dividends upon which became due extent of 35,000/. Scarcely a day has passed without giving rise to re- Messrs. Maosnac, SMITHS, and Co., they were paid in due course. The In- diana Bonds are consequently the only one of the American State Stocks the July dividends upon which are now in arrear. All the English Stocks, the books of which have recently been closed for the dividends, opened on Tuesday, for private transfer ; and transactions for Money have been resumed in them, after an interval of five weeks. We subjoin the price of each at the period of its closing in June and on Tuesday ; from which a comparative view may be taken of the improvement in price during the period referred to.
Price at the closing Price ex.diaideud Equal to a quo- the Books. on 611, July. tation with div. of Three per Cent. Consols 891 90 891 * 91 to New Three-and-a.half per Cents. 99 ..... 99 1001 India Stock 251 248 2534 We thus find, that Consols have improved 1 per cent. or two-thirds of the
dividend ; while India Stock has improved 24 per cent., or not quite half the dividend ; and new Three-and-a-half per Cents. have improved 14 per cent., or the whole amount of the dividend, in consequence of the investments in the particular stock being more extensive than in the Consols or Reduced. The decrease in the revenue and the anticipation of commercial distress have caused a decline in the prices of Stock during the early part of the week ; and Consols for Account and Reduced Three per Cents. have been about 4 per cent. below our last prices, both having been done as low as 894. Consols for Money, which on Tuesday were at 894, have since been at 894 ; but for the last two days, the investments by the public consequent upon the payment of the Dividends have given firmness to the market, and a gradual improvement has occurred, till in the course of the afternoon Consols for Account and Re- duced for Money have been done at 894, and Consols for Money at 894; thus reestablishing the quotations of Tuesday, and recovering to within 4 per cent. of our last quotations. The premium upon Exchequer Bills has improved to les., in anticipation that if a change of Ministry should take place a funding may be resorted to. A reaction to 13s. has since occurred, and during the last two days the price has been firm at 13s to 15s. premium. In the Foreign Market, the business transacted has been on the usual limited scale. The European Continental Bonds have not been quite so firm ; Dutch Two-and-a-half per Cents. having declined to 514, at which quotation the market is not firm. Belgian have also been quoted at 1004 and 4: and Danish at 774; while Russian Bonds are steady at 1134 to 116. The Peninsular Se- curities and non-dividend South American Stocks are very heavy ; Portuguese Five per Cents. having fallen 1 per cent., and the Three per Cents. about 4 per cent. Spanish Active has also declined to the same extent, having dropped from 22 to 21 ; but has today rallied about 4 per cent., closing at 214 4. Co- lumbian Bonds have also been as low as 20, thus marking a decline of 1 per cent.: while Mexican, which received an impulse at the end of last week, have fallen from 274 (the price to which the improvement carried them) to 26, and remain without any sign of improvement. The anticipations of an advance in Brighton Railway Shares, in con- sequence of the partial opening of the line, have not been realized : the price has declined during the whole week, and has been as low as 64 dis- count, being a fall of 31. 10s. from the highest quotation given in our last report ; but has since improved, and has today been at 5/. discount, which may be quoted as the closing price of today. SATURDAY, TWELVE o'Ci.nca.
The market continues firm this morning, at the closing prices of yesterday, with but little doing. The premium upon Exchequer Bills has improved ls., and is 14s. to 16s. In the Foreign Market, we are without any business of importance, and prices generally are the same. The South American and Mexican Bonds are heavy : Colombian are quoted at 20, Mexican at 26, and the others are heavy, at previous prices. Spanish Active continued at 214 4, the closing price of yesterday afternoon, nearly the whole morning, but has just given way 4 per cent., and is now 21 to 4. Brighton Shares support the advance of yesterday, and are at 54 discount, with but little business doing.
SAIIIRDAY. FOUR O'CLOCK.
We have very little doing, this afternoon and the closing prices are the same as in the morning. The Non-dividend Stocks are, however, heavy at the current rates. Brighton Shares continue depressed, and are at 61. to 54 discount. A failure has occurred this afternoon in the Canada trade; but the insolvent house has not been of importance, and the claims against it cannot consequently be large.
3 per Cent. Consols 891 4 Columbian 6 per Cents 20 1 Ditto foe Account 894 t Danish 3 per Cents 77 8 3 per Ceut. Reduced 51 *
894 4 Dutch 24 per Cents
31 per Cent. Ditto 98* * Mexican 5 per Cents. Coned. 26 4 New 34 per Cents 981 4 Portuguese Regency 5 per Cu. 301 1
Bank Stock 169 70 Ditto New 5 per Cents. 1811.. 261 t4
Exchequer Bills ..... 14 16pm Ditto 3 per Cents 18 India Stock 248 Russian 5 per Cents..... ... 113 14
Brazilian 5 per Cents 67 8 Spanish (Active) 21 4
Belgian 5 per Cents 100 1
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