MONEY MARKET.

STOCK EXCHANGE, FRIDAY srrsaneow.

The English Funds have been very heavy; the unfavourable nature of the Con- tinental intelligence, in conjunction with the settlement of the Consol Account, operating to depress prices. This latter event occurred yesterday, and at one time Consols for Money had fallen as low as 901, being a decline of 14 per cent from the closing price of last Saturday. A slight upward reaction has since occurred; the quotation for Account during the day having reached sta. The price, how- ever, gave way again, and at three o'clock the last price was 901 for Money, and 904 91 for Account. Business was continued after the usual hour, and some large and influential sales for Account occurred; under the effect of which the price fell to 904. Money is more than usually abundant; very large SUMS having been lent yesterday upon the security of English Stook at the rate of 1 per cent per annum. The decline of prices just noticed is consequently referable to poli- tical causes. From the great abundance of money, it must be clear that a pres- sure of Stock upon the market is almost impossible. In the Foreign Market, prices are almost in every case lower than they were last week, without any large business. Some alarm was occasioned among the holders of Peruvian Stock, by the rejection at the Agency, as spurious, of some of the Bonds sent in for conversion. Upon inquiry it appears that from a third to a half of the nominal amount of the Bonds in circulation has been sent to be ex- changed; out of which amount seven bonds, representing 2,7001. stock, have been rejected. It is therefore hoped that the amount fraudulently issued is unimport- ant; but as it is of great importance to the bondholders that the extent of the damage should be ascertained, it is desirable that the remainder of the Stock still outstanding should be sent in as soon as possible. It is a very remarkable cir- cumstance, that this is the first instance of the fraudulent issue of any foreign stook. Of the numerous varieties of Spanish, Mexican, and South American Stocks, whereof the dividends remained in arrear for many years, during the whole of which time the bonds were in circulation without the operation of that check to spurious issue which is established by the half-yearly presentation of the

coupons for payment, not a single bond was rejected when these loans werecon- verted into any other variety of stock.

The Share Market has experienced some extraordinary fluctuation& The general tendency has been downwards, but the prices of today are rather higher: the Great Western were at one period yesterday as low as 75, but they have since rallied, and are today higher, viz. 79 80. There is a fashion for everything in England, and the present rage is forCommittees of Railway Inquiry ; the burden of every one of which is want of confidence in directors, and economy. In some cases this want of confidence is justified and.economy required. It would be as well that these gentlemen should remember the fate of Martin in the Tale of a Tub; who when he determined to rid his coat of its embroidery, rubbed it so bard against the wall, not only did he rub all the gold lace off, but rubbed the coat itself into holes.

SATURDAY. 'TWELVE O'CLOCK.

The statement made by Lord Palmerston last night, in the House of.Commons, has produced a favourable effect upon prices. The opening quotation of Consols for the Account was 904; an advance speedily took place to 91, at which price one bargain only was effected. A slight retrogression has sinee occurred, the price for Money being now 904 4 and for Account 94 No change of import- ance has occurred in the Foreign Market. There is no variation in the Railway Shares, the business as yet transacted having been confined to the following: Great Western, Half-shares, 88; Eastern Counties, 74; Great Western, Fifth-

shares, 141; Brighton, b 364; Midland, 64 ; Great North of England, Purchase, 41.

3 per Cent Consols Ditto for Account 3 per Cent Reduced

&I per cents

Long Annuities

904 4 801 I 894 1 904 i '8 9-164

Danish 3 per Cents Dutch 24 per Cents.... ••• • • Ditto 4 per Cents

Mexican b per Cents 1846 :New Granada 66 8 49 60 764 74 281 9.1 164 171

Bank Stock

Portuguese N.4 perCents 1842 28 9 Exchequer Bills 46 49pm. Portuguese Old 1824 75 8 India Stock

Russian 5 per Cents .ex. div. 104 6

Brazilian 5 per Cents

78 80

Spanish (Active) 5 per Ceuta 161 174 Belgian 44 per Cents 80 2 ex d. Ditto 3 per Cents 1842 334 Buenos Ayres 36 Venezuela • 25 7 Chllian 6 per Cents 91 3