MONEY MARKET.
STOCK EXCHANOK, FRIDAY AFTZRN0024.
Early on Monday morning the Bank of England Directors again advanced the minimum rate of discount another 1 per cent, in consequence of the continued demand for specie for transmission to New York ; the measure was little expected, and caused considerable excitement in commercial circles, and a decline during the day of 1 per cent in English Securities. Consols: were first quoted 92/ 921, h per cent lower than the closing quo- tation of Saturday ; and, immediately upon the Bank measure being an- nounced, some very extensive sales took place, and the markets became ex- ceedingly heavy in consequence. The next day the Bank of France raised its rate 11 per cent, making 7 per cent as here. This, although somewhat anticipated, caused another fall of 1 per cent, from which, later in the day, there was a partial recovery. Most of the operations of the week have been in connexion with the settlement in Consols, but there have also been ex- tensive transactions for February Account. Yesterday a rally of 1 per cent occurred, and the price for Money was at one time "buyers" at 91 13-16. The dealings are now for the New Account, and the final quotation is 91/ 92; New and Reduced, 911 911; India Stock marks 219; and Bank Stock, 232 234; Exchequer Bills, 58. le. discount. Money has averaged 51 per cent.
The Foreign Market has been dull and extremely inactive all the week,
and a general decline has taken place in the value of Securities averaging per cent. Turkish Stocks have been pressed for sale, and close heavily 69, 70k for the old Six per Cents, and 551 561 for the New Ditto. Mexican has likewise drooped to 21 211; Venezuela, 20 21 ; and the One-and-a-Half per Cent, 11 12; Grenada Active, 14 15; Ditto Deferred, 5 51; Peruvian flit, 95 96 ; Ditto Three per Cent, 73 74 ; Ditto the Dollar Bonds, 78 80 ; Ditto Uribarren, 80 81 ; Buenos Ayres, 95 97 ; Buenos Ayres Three per Cent, 30 31 ; Chilian Four-and-a-Half per Cent, 82 83 ; Ditto Six per Cent, 101 103 ; Sardinian, 82 83; Victor Emmanuel, 92 93 ; Spanish Three per Cent, 48 481; Ditto the Certificates, 61 54 ; Brazilian, &5 86 ; Russian, 104 106. Money has ruled at about 6 per cent, with only a limited demand.
The Railway Share Market, owing to the augmentation in the Bank rate,
gave way on Monday and Tuesday all round, and prices were quoted con- siderably lower, in some instances 1 and 11 per cent ; a slight recovery has, however, since taken place, and the following are the quotations of some of the principal lines—Midland, 1351 135/ ; Great Western, 731 73 ; Lon- don and North-Western, 100 1001; London and South-Western, 941 951; Lancashire and Yorkshire, 1171 118; Edinburgh, Perth, and Dundee, 28 29 ; Berwick, 1041 105 ; Great Northern, 1111 11`21; Groat Northern A Stock, 107 109 ; Caledonian, 97 97/ ; North Stafford, 15 151 ; Manches- ter, Sheffield, and Lincoln, 551 561 ; London and Blackwell, 61 63 ; Lon- don and Brighton, 116 117 ; South-Eastern and Dover, 86187 ; Eastern Counties, 52 621. There has been very little business doing all day. The French Market, in sympathy with the heavy decline on the Paris Bourse has fallen, and shares close flat, and with a tendency to lower prices—Lom- bardo-Venetian, 1/ 11 dis.; Northern of France, 361 371; Luxembourg 6/ 6/ ; Midi, 19 20 ; Indian Stocks steady ; East Indian, 98 99 ; Great In- dian Peninsula, 95 96. Marine Insurance Shares quiet—Universal, 1/ 11; Thames and Mersey, 11 11; Ocean, 314. The Markets are all quiet at the close.
SATURDAY, TWELVE O'CLOCK. The Consol Market opened firm at 92 921 notwithstanding the very un- favourable character of the Bank return. Some Money sales have since taken place and the price is now 91/ 92 and fiat. Foreign Stocks dull with little change. Railway Shares very heavy at an average decline of 1 per cent.
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