MONEY MARKET.

Broca $xaaAseL. FREDAY AFTERNOON.

The decline of the Northern exchanges, which has been noticed in a previous number, has been accompanied by its usual result, a rise in the price of bullion. In this particular instance the demand has been almost entirely confined to one of the precious metals—silver, which in the course of two or three weeks has risen in value more than one per cent. The demand for the North of Europe is not ex- pected to continue long. It is, however, the prevailing opinion that our continued importation of rem and flour from the United States will depress the already de- clining rate of exchange between the two countries to that point which will make the export of bullion profitable. Hence it is anticipated, that before long the stock of th-e precious metals in the Bank of England will be considerably dimin- ished; and as a natural consequence, the Bank rate of discount must be increased, and money become scarcer. Some sales of Stock were made in anticipation of this contingency, and the market experienced a trifling decline. The improvement of the French Funds (attributed to the Marquis of Normanby's visit to the Duke and Dutcheas of Montpensier!) has since imparted more firmness to prices; and some large and influential purchases for Account have tended to sustain the advance. The general result of the week's business has been to establish the closing quotation of today similar to our last, after a downward fluctuation of about 5 per cent. For the reasons already alluded to, the rate of discount is rather higher; and there is an indisposition among capitalists to make advances for long periods at the cur- rent rates.

In the Foreign Market, the business transacted has been unimportant; and most of the current varieties of Stock are at the last week's quotations. Expecta- tion has been disappointed in regard to the arrival of intelligence from Portugal; the news filtered through the Madrid journals being re very meagre, and of no later date than our last direct advises. In the mean time, the transactions in the Stock have been unimportant, and the dosing quotations of today are rather lower.

The Railway Share Market was prejudicially affected by the decline of the English Funds; but prices have in some measure recovered again. The demand is principally confined to the guaranteed Shares, which are in most cases firmer, while the older and more important lines seem gradually declining. Some of these latter appear to be about to realize the old proverb, ' Gold may be bought too dear," and by the leasing of various collateral lines to peril the continuance of their own profits. The circular of the South-western Company, summoning a general meeting of the proprietors for the 17th instant, gives notice, that the meeting will be called to decide upon "the making by this company, or their sub- scription towards the making," of eight new lines of railway; while the sanction of the meetingwill be sought for the making of further arrangements,—meaning there- by the leasing; or taking part in the subscription of six other companies, and for the making of an agreement to hire the Exeter and Exmouth Railway; thus, if the directors succeed in their plans, pledging the company's capital in a greater or less degree to fifteen undertakings. The Foreign Shares have been heavy, but are all better during the last day or two. The business transacted in them has been unimportant; but the tone of the market is decidedly improved.

SATURDAY, TWELVE O'CLOCK.

The gloomy character of the intelligence from Portugal, published in a second edition of the Chronicle, has thrown a damp upon the markets of the English and Foreign Stocks, which are all lower. Consols have fallen per cent, -Por- tuguese Bonds about 1 per cent, and Spanish from to 5 per cent The decline in the other Foreign Bonds is not remarkable, the flatness being mainly indicated by an absence of business. The transactions of the Railway Share Market have not been so extensive as usual; the attention of the jobbers and brokers being, chiefly directed to Use . adjustment of their accounts in anticipation of the settlement on Monday. Prices are nearly the same as yesterday. The following are the principal bargains occurring: Bir- mingham and Oxford Junction, 85; Ditto, and Dudley, 6 premium; Eastern Counties, 224 5; Ditto, York Extension, 34; Eastern Union (Cambridge and Ely), 195; East Lincolnshire, 15 5; Edinburgh and Glasgow, Qoarter.sharee, 185; Great North of England, New, 53; Leeds and Bradford, 734 ;London and North-western, 19 75; Ditto, Quarter-shares, 235; London and York, 25; New- castle and Berwick, 335 5; North British, Half-shares, 165; Ditto, Fdths, 35; North Staffordshire, 3 premium; South-eastern and Dover, 38.

SATURDAY, Two o'Cnocx.

No material change or large amount of business has occurred either in the Eng- lish or Foreign Funds. Markets generally are heavier, though closing nominally at the morning's quotations. The Railway. Share business has been rather ex- tensive, without causing any material variation in prices: the character of the Market being the same as it has been all the week. The following bargains have occurred since the morning. Ambergate, Notts, and Boston, 24 5: .Bristol and Exeter, 81; Bristol and Gloucester, 50; Caledonian, 24; Ditto, Half-shares, 21; Edinburgh and Glasgow, Half-shares, 205; Hull and Selby, 1085; London and North-western, Quarters, 235; Ditto, Fifths, 195; London and Blackwell, 8#; Lon- don and South-western, 665 645 7; Midland, 1325 133; Scottish Central, 20; South-eastern and Dover, 38 75; Boulogne and Amiens, 145 5; Dutch.Rheuish, 55; Great Northern of France, Constituted, 105 4 5; Luxembourg, 5; Paris and. Lyons, Constituted, 5; Sambre and Meuse, 44.

3 per Cent Consols Ditto for Account 941 Danish 3 per Cents Dutch 21 per Cents 86 8 59 1 3 per Cent Reduced 932 1

Ditto 4 per Cents.

911 2 31 per Cents 901 1 Mexican 5 per Cents 1846. • • 211 21 Long Annuities 101 15-16 New Grenada 20 21 Bank Stock 204 5 Portuguese New 5 p. Cts. 1841

37 9

Exchequer Bills prem. 10 13 D1tto 4 per Cents 1845 38 40 India Stock

Russian 5 per Cents 110 112 Brazilian 5 per Cents 84 6 Spanish (Active) 5 per Cents 26 1 Belgian 41 per Cents 94i 95 Ditto 3 per Cents 1842

37f I

Chilian 6 per Cents 95 7 Venezuela 40 42 Columbian ex Venezuela 15 16