MONEY MARKET.
Nroex EMMA:Vali. Elif DAT A YYRRNOON.
The gloom which had so long pervaded the Money Market has been considerably diminished, if it has not entirely disappeared. The much-dreaded 4th of the month passed, as we anticipated last week, without disaster ; and as the pre- cautionary reserve of capital is no longer requisite, money has become inure plentifnl. The payment of the Dividends, which will take place on Monday, will add much to the circulation; as will also the liquidation of the Dissented Four per Cent. Stock, which will commence on the same day. The amount put into circulation by these two events will be between seven and eight mil- lions ; the amount of Government Dividends being upwards of two millions, the Dividends on Bank Stock about 600,000/, and the Dissented Four per Cents. between four and five millions. But a considerable portion of the latter sum has been discounted ; and much of the whole addition to the circulation will be absorbed in the repayment of the loans which have been made by the Bank during the recent shutting of the hooks of the various Stocks of which the Dividends now become payable. We do not know what the amount of the loans in question may be; but, from the state of the Money Market for some time past, we should imagine that the public have availed themselves to a con- siderable extent of the accommodation offered by the Bank. Consols for Account have slightly improved on our last quotations ; the pre.
sent price being 903 Exchequer Bills ale higher ; being 44 45 premium.
In the Foreign Market. with the exception of is slight demand for Russian anti Belgian Bonds, the business has been chiefly in Spaniall Stock ; which fluc- tuated more than usual. On its becoming known, at the op oing of the Market on Monday morning, that the price of Cortes Bonds at Paris hall risen 10 per cent. in the course of Friday and Saturday last, the price here, which on Satur- day was at 563, 1,,,e to 59, and afterwards to 60: since then, the Bonds have been as high as r. ' ; from this point they declined rapidly to 55 ; have since been at 60; aga", Allen to 56i; and have since fluctuated between that price and 59, closing ii Afternoon at 561 57. The cause of these fluctuations is to be found in the it.iihiguity which pervades the resolutions of the Cortcs on the subject of the acknowledgment of these Leans. This neeertainty has also ope- rated on the French Market, where the fall has been as rapid as the rise. Oct Saturday last, the closing price in Paris was 55; and the (leering price of Wed.. nesday, received by this morning's post, was 421. Some activity was mani- fested in the early part of the week in Portuguese Bonds ; which have been as high as 83: the price has, however, since fallen, and is now SlA -The South American Bonds are still the objects of speculation. Since our last, the prices of most of the Stocks which are on our Exchange hall improved about 1 per cent. ; but this advance has not been maintained, mid they have generally receded to the previous quotations. SATURDAY, TWILLAE o'cLocic.
Very little worthy of note has occurred this morning. Consols for Account are 905 91; Exchequer Bills 42 44 premium. By the official return made of the surplus of the Revenue over the expenditure of the year ending July Iffeil, it appears that the amount is nearly 2,200,000/., the whole of which sum is thus made available to the reduction of the Debt, the amount to be thus ap-
propriated during the current quarter is 544,257/. ; and it speaks largely for the productive powers of the country, that notwithstanding the great reductions of taxation, such a surplus should exist. We are without any further news from Madrid, and in the absence of intelligence, the Spanish Stock Market remains quiet. An improvement of 1 percent. in Paris gave an impulse to the Market, and soon after the commencement of business the price was as high as 58; a slight reaction has since occurred, and the bonds are now at 57i I. The transactions in the other Foreign Stocks are unimportant.
3 per Cent. Consols 90 4 Dutch 24 per Cents 521 Ditto for Account 901 91 French 3 per Cents. • New 3* per Cent. Annuities. 991 100 Greek °MIAMI), 5 per Cents — Bank Stock Mexicau 6 per Cents 41 414 India Stock Portuguese 6 per Cents. 81* 82 Exchequer Bills 42 44 Do. R egeney Stock,5perCent. Belgian 5 per Cents 1001 Prussian (1818) 5 per Cent.. — Brazilian 5 per Cents. ex. dlr 76* 77 Russian (1822) 5 per Cent... 1051 6 Danish 3 per Cents. ex. div 744 75 Spanish (1821)5 per Cent... 574
Previous page
