13 MARCH 1847, Page 11



The books of the Stocks whose dividends become due next month have all closed: to reopen for private transfer on the 11th April. The Bank is not to give the usual advances of money upon Stock and approved securities during the shut time. One of the Joint Stock Banks applied for a loan upon the security of 600,000/. Three-and-a-quarter per Cents, and was refused. The intended borrowers were therefore forced into the market as sellers, and had upon the day of the shutting to sell between 500,0001. and 600,0001. Stock. Under the eact of this operation, the price of Three-and-a-quarter per Cents fell nearly 2 per cent, viz. from 91# to 891: Consols also declined from 891 to 884; while the Scrip of the new Loan fell from premium to # discount. Prices have since rallied about 1 per cent from the lowest; but the upward movement has not been sustained; and, after some fluctuation the closing price this afternoon of Consols far Account is 884 #, and of Scrip 4 discount, both being nearly the lowest. The determination of the Bank Directors, noticed above, is only of importance as indicating the zealous watch they keep over the currency, and their determina- tion to be provided against all contingencies. If they had granted the loan re- quired, and any sudden emergency had arisen to make its repayment necessary befwe the 11th of April, the sale of so large an amount of a stock in which, from the circumstance of the books being closed, no money transactions were current, would have produced a much more disastrous effect upon the money-market than its forced sale has done at present. The premium of Exchequer Bills has fluc- tuated between is. and 5s.

In the Foreign Market, some rather extensive sales of Dutch Bonds have oc- curred; and the price declined nearly 1 per cent; to rally, however, with the bet- ter aspect of the English Stock Market. Mexican Bonds are from 4 to 1 per cent lower, without the occurrence of any transactions of importance. Portuguese Stock may be quoted at a like depreciation. Some slight improvement has oc- curred in Spanish Bonds; but the upward movement has not been supported, and the prices this afternoon are the lowest of the week.

The loans contracted for by the Railway Companies, to which we alluded last week, have tended to produce a decline in almost every description of Railway Stock; the shares of most of the principal lines having fallen from 41. to 6/., while those of the least important varieties have undergone a proportional depres- doti. The operations alluded to have been as gigantic in character as the original Undertakings themselves; the loans just raised by the London and North-western Company, upon which 5 per cent interest hus been given, being to the extent of 700,0001.; and it is understood that in the course of the year this company will have to provide for debentures which arrive at maturity to the further extent of 2,800,0001. The Great Western Company are still borrowers at 5 per cent; as are several others of leas importance.

The depression of the French money-market has caused a decline in the various classes of Foreign Shares current here; which may be quoted generally from 10s. to 15s. per share below our last prices. Some slight indications of improvement have proved ephemeral, and the closing quotations today are nearly the lowest


The opening price of Consols for Money was 884, while for Account the first quotation was 881. A general disposition to sell has since been apparent, and a decline to 88* both for Money and time:has occurred. The speech of Lord John Russell, last night, in the House of Commons, and the diminution of half a million in the amount of bullion in the Bank, may be cited as the causes of this morning's decline. The transactions in the Foreign Market have

been unimportant, and the prices continue the same. Almost every description of Railway Share is lower, as will be seen by the following list of transactions of this morning; the business in this branch has been of a very general cha- racter, but the market does not give any indication of improvement: Birming- ham and Oxfrd Junction, 13 4 4; Caledonian, Half-shares, 24; Eastern Coun- ties, 191; Ditto, York Extension, 31; Edinburgh and Glasgow, 744; Great Northern, (London and York Registered,) 24 1; Great Western, Half-shares 66; Ditto, ditto, Fifth-shares, 74; Ipswich and Bury St. Edmund's, 114; Lan- caster and Carlin, 634; Leicester and Birmingham, * dia; Leeds and Thirsk, (New,) 94 4: London add Brighton, 52* 53; Ditto and North-western, 178, 176; Ditto, New, 121; South-western, Scrip, 5; Midland (New), 334 4 331; New- castle and Berwick, 321 4; North British, 331; Ditto, ditto, Hall-shares, 164; Ditto, ditto, Quarter-shares, 4; Ditto, ditto, Extension, 14; North Staffordshire, 74; North-western, 4; Preston and Wyre, 34; Ditto, ditto, Half-shares, 12; Scottish Central, 224.

SATUILD•T, TWO o'cioca.

The English Fonds close at the quotations given in the morning: there has not been any signs of vitality in the market or any indication of reaction; as will be seen by the fact that the closing quotations are the lowest. The trans- actions have been altogether unimportant; not a single large bargain having been concluded during the whole day. Exchequer Bills are marked at Is. and 4s. Premium, and Bank Stock for the April Account at 2044. No fluctuations or business of importance has occurred in the Foreign Fonda; which are all at our morning's prices. The Railway Shame are still depressed, most of the bargains that have occurred since noon having been at lower prices. The following are the most important: Caledonian, 264; Eastern Counties, 194; Ditto, York Extension, 31 i; Edinburgh and Glasgow, Half-shares, 204; Great Western, Ill; Hull and Selby, 102; London and North-western, Quarters, 1811,• London and Brighton, 524 8 24; London and Blackwell, 71; London and South-western, 62 14; Midland 116 15 164 154; Scottish Central, 224; Ditto, Midland,244; South- eastern and Dover, 37; Boulogne and Amiens, 131; Orleans and Bordeaux, 60; Paris and Lyons, Constituted, 617 ; Paris and Strasbourg, Constituted, 24.

3 per Cent Consols

Danish 3 per Cents

87 9

Ditto for Account 881 4 Dutch 24 per Cents 574 3 per Cent Reduced shut Ditto 4 per Cents. 914 31 per Cents shut

Ile:lean 5 per Cents 1846...

211 1 Long Annuities Bank Stock

shut shut

New Grenada Portuguese New 5p. Cts. 1841 19 20 32 4 Exchequer Bills par 4 pram. Peruvian 88 40 India Stock shut Russian 5 per Cents. .(ex-d.) 109 III Brazilian 5 per Cents 86 8

Spanish (Active) 5 per Cents 221 31 Belgian 44 per Cents


Ditto 3 per Cents 1848

834 4

Buenos Ayres 6 per Cent....

40 2 Venezuela

38 40

Chillan 6 per Cents 90 5