MONEY -MARKET.

STOCK EXCHANGE, FRIDAY AITERNOON.

All the Stocks whose dividends became due on the 5th are now open; and, contrary to the usual course of events, the investments consequent upon the pay- ment of the dividends have produced no improvement in the prices of the Govern- ment Securities : on the contrary, the English Fends have declined, the Three per Cent Stock about 4 per cent, and the Three and a Quarter per Cent about 1* per cent. The decline in the latter is attributable to the operations of the Bank- broker, who has sold extensively, at the same time investing the produce of his sales in Three per Cent Reduced. Till today, there was not an appearance of s tors operating for the fall, though some considerable sales occurred of Money Stock, which weighed upon the market and kept it down. In the course of this afternoon, however, some speculative sales of an unimportant character have occurred; and it is reported that they have been made in anticipation of a change of Ministry I From the heaviness already alluded to, these operations, which under other circumstances would have been disregarded, have produced a decline of .11 per cent ; forcing down the price of Consols from 99 to 94 in a short time. Bank Stock has been done today at 21011, ex dividend—equal. to 214 with dividend; marking o fall of between 1 and 2 per cent. India Stock is quoted at 278. An occasional demand for money has occurred in the Stock Exchange; but the rate of commercial discount still continues to be between 2 and 3 per cent. ' The foreign exchanges have declined; and though not materially lower than last week, are heavy, with a downward appearance. Gold still, however, flows into the Bank of England; and there is every probability that the amount of bullion now stored in that establishment will continue to increase.

In the Foreign Market, the business in Foreign Bonds has been quite unim- portant; though some of them, as Mexican and Spanish, have advanced in price. The heaviness of the English has caused prices to recede during this afternoon; and in the general absence of business almost every description of Foreign Bonds is nominally lower. Mexican had advanced to 86i, speculators now moderating their fears of hostilities between the republic and the United States; .but there has been a subsequent fall to about 36. The prospect of the recognition of the young Queen of Spain by the Papal See had inspired the capitalists of Madrid with confidence, and they had agreed to make advances to. the Government; which produced an immediate elect upon the prices in Madrid, and caused an • improvement here: the nominal quotations of this afternoon are about 77 per cent below recent prices. But the transactions in Foreign Bonds of all kinds have been so limited as seemly to deserve notice.- The Railway Shares still continue favourite objects of investment and specula- tion; extensive transactions of both sorts having occurred. The greatest amount

of business has been done in the low-priced lines: am the principal, may be

noticed Churnet Valley, Cambridge and Lincoln, Direct N ern, Cornwall, Newry and Enniskillen, Cork and Waterford: all these have been in good demand at ad- vanced prices during the week; and though the Government Securities have been and are depressed, the decline in Railway Shares generally has not been import- ant, neither does there appear any cessation in the demand for them. The French Shares, especially those of lower class, have been also the objects of extensive speculation. Among those most in favour may be quoted Ganneron's Paris and Lyons; which have been as high as 1 premium, in consequence of some very ex- tensive purchases occurring here in conjunction with an advance in Paris. The Belgian Railways are also in request; a new one, that from Namur to Liege, of winch the allotment of the shares has not yet taken place, being at 23 to 3 pre- mium. The additional issue of shares of Calon's Paris and Lyons Company has occurred; and they are a drug in the market-today not saleable above par. Great Paris and Lyons Shares are also at about the same quotation. With these exceptions, most of the minor French Shares are between k and 1 premium.

SATURDAY, TWELVE O'CLOCK.

The alarm of yesterday has subsided, and Consols both for Money and Account, after being done at 99, are now 983 9. The business occurring has, however, been quite unimportant. In the Foreign Market, the transactions in Bonds have been as limited; though both Mexican and Spanish Bonds are quoted a little higher than yesterday. The brokers and dealers in Shares have been so occupied with the ad- justment of their accounts, in anticipation of the settlement on Monday that we have few bargains to report. Prices are, however, generally as yesterday afternoon. The French constituted lines are heavy; and the only demand has been for those of Gannerons and Lafitte's Paris and Lyons; Colon's and Great Paris and Lyons being entirely neglected. The following are the only bargaihs we can record at pesent : Aberdeen, 53; Caledonian, 113; Cambridge and Lincoln, 93; Churnet, 93; Direct Northern, 43; Dublin and alway, 43; Lancaster and Carlisle, 40; Brighton, 623; Rugby, 43; York and North Midland, Half-shares, 50; Boulogne and Amiens, 11; Cette, 03; Great North of France, 53; Lyons and Avignon, n; Paris and Lyons, Lafitte's, 23; Ditto, Ganneron's, 24 i; Sambre and Meuse, 83; North of Spain, 33.

SATURDAY, Two O'CLOcK•

The English and Foreign Funds are unchanged. Bank Stock has been done at 2103 ex. div. for Money, and at 214 with dividend for Account. India Stock is marked at 277 and 279.

The transactions in Railway Shares have been very extensive, often at advanced prices. Aberdeen, 53; Birmingham and Gloucester, 1373 a; New, Ditto, 333; Bristol and Gloucester, 623; Cambridge and Lincoln, 93 3; Chester and Holy- head, 103; Churnet Valley, 93; Direct Northern, 5; Dublin and Belfast, (Junction,) 10; Eastern Counties, 203; Edinburgh and Glasgow, 623; Ely and Bedford, 3; Great Western, 188 6; Harwich, 23 3; Birmingham, 235; Black- wall, 83; Greenwich, 103; South-western, 813 31 Croydon, 173; London and York, 33 3; Manchester and Birmingham, 583 9; Midland, '152 3; Newark and Sheffield, 6 53; North British, 18 173; Ditto, New, 53 43; Northern and Eastern, 66; South Devon, 213; South-eastern and Dover, 413 3; York and North Mid- land, 100 2; Orleans and Viek-zon, 173; Orleans and Bordeaux, 113; Paris and Lyons, (Lafitte) 3; Paris and Orleans, 473 8; Paris and Rouen, 421; Tours and Nantes, 23; Paris and Lyons, (Calon's,) 23; Great North of France, 24 3; North of Spain, 23 3; British Iron, Scrip, 24: United Mexican Mining, 43: Union Bank of Australia, 254 6; Ditto, New, 23.

3 per Centgonsols ... - .. • 94 9 Columbian ex Venezuela... 151 1

Ditto for ego ' • 981 9 Danish 3 per Cents 87 9 3 per Cent Reduced aii a Dutch 21 per Cents 621 3/

34 per Ce1115 101i i Ditto 4 per Cents -

Long Annuities III 7-16 Belgian 21 per Cents 774 Bank Stock for Account ... 210/ Mexican 5 per Cents 364 f Yatoneneer Bills • • • . • prem. 58 60 Ditto Deferred 161 174

India Stock • 277 9 Portuguese New 5 p. CM. 1841 65 65/

Brazilian 5 pad dents 87 9 Russian 5 per Cents 117 18

Belgian 44 per Cents 101 2 Spanish (Active) 5 per Cents 30/ 3 Chillan 6 per Cents ' 100 2 Ditto 3 Cents 1842 40/ 1