MONEY MARKET.

STOCK EXCHANGE. FRIDAY AFTERNOON.

The development of the Government plan for the renewal of the Bank Charter has given a better tone to the Money-market, and dissipated the fears that were previously entertained of some general and sweeping alteration in the paper circulation of the country. The plan in considered as confer- ring many advantages upon the Bank, which are an ample compensation for the reduction of 60,000/. per annum in the amount now paid by the public for the management of the Debt. Upon the whole, the scheme has been well re- ceived, principally because it will not give rise to any immediate change in our monetary 63 stem; but it is considered as being chargeable with one great and palpable omission—viz, that no provision is made for the reduction and gra- dual extinction of the debt due from the Government to the Bank ; for to this circumstance, by which its own capital has been rendered permanently un- available for the purposes of its own business, in the opinion of high autho- rities are to be traced all the difficulties to which the Bank has ever been sub- jected. ' We have already stated that the immediate effect of the proposed measure was to cause an improvement in the price of the Public Securities; and the advance thus occasioned was still carried further on Wednesday, by a purchase of 200,000/. for the Court of Chancery. The Government-broker has still con- tinued a daily buyer, on account of Savings Banks, and for the investment of the sums paid for the purchase of Life and Terminable Annuities: the large amount of Stock, which we noticed last week as having been thrown upon the Market by individual sales, has consequently been absorbed ; and the result of the week's operations has been to establish a closing price of the Government Securities at the end of today's business about per cent in advance of our last quotations. Bank Stock has not been in the slightest degree affected ; the fluctuations not having exceeded 1 per cent, and having been only such as are occasioned by the accidental preponderance of buyers or sellers. South Sea Stock has experienced another improvement of I per cent, and is today quoted at 1144—the highest price at which it has stood for many years. The business of the Foreign Market has been more than usually extensive; though it has been chiefly confined to Spanish Stock. The intelligence of the reeignation of the Spanish Ministry was received on Monday ; and its imme- diate effect was to produce a decline of nearly 2 per cent in the Three per Cents, and of about 1 per cent in the Active Stock. Prices, however, rallied about per cent from the lowest quotation : the reconstruction of the Ministry was known on Tuesday, when a further improvement occurred ; and in the course of yesterday, a further impulse was given to the upward movement by some very influential purchases. The rise has been continued today, thus recovering the whole of the recent depression ; the closing prices of Three per Cent and Active Stock being the former about 1 and the latter 1 per cent above our last

prices.

The intelligence of the reduction of Almeida caused an improvement in the price of Portuguese Stock of about 14 per cent ; the transactions occurring have, however, been but limited. Although the recent arrival of dollars from Mexico was less than was anticipated, and Mexican Bonds declined slightly a.pon the amount of the remittance becoming known : the price of these secu- rities has since improved., and is today about per cent above the lowest recent quotations. The South American Bonds are generally in demand. The prices of Railway Shares are well maintained, and investment in the principal lines is steadily going on, without causing any material rise in price. The French Railways are still favourites, and improving, with the exception of the Strasbourg and Basle; the temporary popularity of which in our market does not appear to be supported. An impulse has been given to two lines hitherto neglected, viz. the Blackwell and Greenwich, by projects for conti- nuing lines. The Blackwell have risen 2/. from the lowest recent quotations, via. to 81; but have since fallen to 7i. Greenwich have improved about 158. per share, which advance is maintained. SATURDAY, Two o'cLoritc. There is no material change in either the English or Foreign Funds : mar- kets generally may be quoted as rather firmer. Spanish Stock has as usual been the chief attraction in the Foreign Market, and closes at a slight advance. Intelligence has been received from Madrid, that the drawing to decide the numbers of the Deferred Bonds which were to become Active Stock bad taken place ; and, though no official declaration of the numbers of the drawn Bonds has yet been made, we are assured that those given in the subjoined list are correct.

Bonds of 42/. 10s. each, Mos. 2,254 to 3,004 • • 881. • • .. 9.752 to 10,384 .. 1701. .. .. 2,036 to 2,502

.. 255/. .. .. 1,670 to 2.002

.. 5101. .. .. 585 to 1,168 .. 1,0201. .. .. 3;085 to 3.508

The following bargains have occurred in Shares in addition to those given in the morning. Banks—Commercial of London, 160; Union of Australia, 26k; Ditto of London, 12i. Railways—Bristol and Exeter, 78; Edinburgh and Glasgow, 661; Harwich, (Braithwaite's,) 21 8 ; Hull and Selby, 64 60; Birmingham, 232 1; Blackwell, 7h ; Brighton, 4-ti ; Greenwich, Preference, 17; Croydon, 18 17k; North Midland, 901; Ditto, Half-Shares, 45; Norwich and Brandon, 4.

3 per Cent Consuls 99i I Colombian ex Venezuela ... 141 151 Ditto for Account 991 i Danish 3 per Cents 88 9

3 per Cent Reduced 981 9 Dutch 24 per Cents 61 4 at per Cent Ditto 1011 Ditto 5 per Cents 1001 I New 31 per Cents 1021 0 Mexican 5 per Cod, . 35r 6

Bank Stock 1951 Ditto Deferred 158 16

Exchequer Bills prem. 77 9 Portuguese New 5 p.Cts.1841 45r 68

India Stock 287 9 Russian 5 per Cents 117 18 Brazilian 5 per Cents 80 1 Spanish (Active) 5 per Cents 241 5 Belgian 5 per Cents 102 3 Ditto 3 per Cents 1342 354 6 Chilian 6 per Cents 102 4 Venezuela AMA% e 391 408

The usual monthly publication of the circulation of the United Kingdom for the four weeks ending 27th April, shows an increase of nearly 1,000,000/. in the circulation of the Bank of England, and of 1,649,211/. in that of the whole kingdom. This appears to have been produced by the bankers gene- rally, in order to augment the present avci age of the circulation ; by which, under the contemplated arrangements for the renewal of the Bank Charter their future issues are to be regulated : at the present low rate of interest for money, 11 per cent, there can hardly have been any other inducement for an increased issue of Bank notes. The amount of bullion in the Bank of England shows a decrease of 478,0001. as compared with the last return.

SATURDAY. TWELVE O'CLOCK.

The English Funds are at yesterday's prices, without the occurrence of any business of importance.

The only change occurring in the Foreign Market is in Spanish Stock, which is firmer than yesterday ; the Three per Cents being at 36, and the Actives about 25: business has, however, been altogether on a very limited scale. The following transactions have occurred in Shares : Mocaubas and Cocaes United Mining Shares, 4,1; London Joint Stock Bank, 148. Railways : Eas- tern Counties, 121; Ditto, New Registered, 148 ; Great Western' Half-shares, 75: Ditto, Fifth-Owes, 21; Leeds and Bradford, 24; Brighton, 444; Green- wich, 51 ; Midland Counties, 90&; South-eastern and Dover, 37k; Paris and Orleans, 383 ; Rouen and Havre, 1711 }.