15 FEBRUARY 1845, Page 11

MONEY MARKET.

&roes EXCHANGE, FRIDAY AFTEIINOON.

Business in the English Funds has been quite unimportant, and the fluctua- tions are scarcely worthy of notice. Almost every day has witnessed a pressure of Stock upon the market, and a demand for money : but priem have maintained themselves steadily, and are today nearly as last week. Bank Stock is heavy, be- ing quoted at 214. The rate of commercial discount may also be quoted at a, slight advance, viz. from 2 to 3 per cent; advantage being daily taken of the accommodation offered by the Bank of England, and advanees sought from that establishment at an interest of n per cent per annmn. • This is a clear indication of a comparative scarcity of money; for until lately •tbti notice of the Directors expressing willingness to lend atlhat rate was totally tire. In the Foreign Market, the ptisiness in Bonds has both unimportant. Mexican had declined more than 1 per cent, when it became tit own that the last Weat India packet had arrived without eny remittances oirefecesint of the dividend; an influential broker having depressed the market by a hike speculative sale. The in- telligence of the capture and death of Santa Anna, received this morning rid New York, (although not entirely believed,) has given a better tone to the market and prices have nearly assumed their former level. Porteguese Bonds have do- .

dined; the quantity of Stock thrown ti the market being in excess of the de- mand: the quotation has today been as w as 58, or about 2 per cent lower than our last. The contemplated arrangement for the payment of the increased divi- dend of 4 per cent in July next will be carried into effect: an agent is expected to arrive by the next or following packet authorized to complete it.

The usual half-monthly account was settled today; and, from the enormous extent of business in Railway Shares during the last fortnight, the balances, and consequently the settlement, were unusually heavy. The amount that has passed through the Clearing-house today has been greater than any one day for many

ears: but all went off smoothly; the only complaint being the general one of the impossibility of settling the immense mass of business to be adjusted within the usual hours. Money was much more in demand in the Foreign than the English House; the highest rate of interest given for loans upon Stock being about 10 per cent. Upon Railway Shares, however, from 20 to 40 per cent was currently paid, and that not in one or two instances, or by men of inferior credit but by some of the leading Share-brokers. It is quite impossible that these speculations can last—the result must be a panic: as yet, however, there are no signs of a decline in prices, and some of the Shares upon which so large an interest was given bare risen today, notwithstanding the pressure upon the market.

The measures taken by the French Government to check the speculation in Railway Shares have acted very prejudicially upon the prices of the newer lines. One regulation will press very severely upon the speculators, viz. that which re- quires a deposit of 20 per cent before the company can be allowed to enter into any negotiations for the lease of the line: and as in addition to this the company is not to be allowed to collect subscriptions for more than a month previous to the day fixed for the adjudication, all extensive speculation in new lines may be con- sidered at an end. One regulation, unless modified, will cause a great scarcity of money—namely, that which requires the administration of all new companies to hand over their deposits to the Treasury within a certain time from the period of -their formation. If strictly carried out, this regulation will occasion the with- drawal from general circulation, and deposit in the hands of Government, upwards of six millions sterling, the amount of deposit required by the new law upon rail- way schemes now in agitation in France. The shares of most of the lines that will be affected by these regulations have fallen to merely nominal premiums: those of the lines already in existence are well supported.

The decisions of the Board of Trade published in last Tuesday's Gazette were without effect in this market. Today, however, there has been much speculation in the shares of the York line, which, it is expected, will be favourably reported upon tonight. Caledonian are also in demand, from the same cause; and Cam- bridke and Lincoln depressed by the anticipated success of their competitors the Ye&sts.

SATURDAY, TWELVE O'CLOCK.

There is no change of importance in either the English or Foreign Funds. The business transacted has been almost entirely confined to Railway Shares. The demand for these still continues; and prices this morning are generally in ad- vance of those of yesterday, especially of those lines upon which such high interest was given to carry over the speculations to the next Account. The following is the record of the business actually occurring: Bristol and Exeter, 83 5; Ditto, New, 7; Bristol and Gloucester, 59; Cambridge and Lincoln, 34; Chester and Holyhead, 8 4; Churnet Valley, 84 4 A; Cornwall, 54 - Direct Northern, 24 4; Eastern Counties, ex dividend, 171; Eastern Union Extension, 3 4; Great Southern and Western, 124; Ditto, Extension, Ga ; Brighton, ex dividend, 564 74; South-western, ex div. 794; York, 7 61; Manchester and 'Bir- mingham, 65 4; Midland and Birmingham and Derby, 95: Great Western, 178 6; Ditto,Half-shares 98; Newcastle and Berwick, 174; North British, 144 4; Ditto, New, 3: Norwich and Brandon, 164; Oxford and Worcester, 2 14; Rugby, Worcester, and Tring, 44 i 4; Shrewsbury, 7 64 a; South-eastern and Dover, ex New, 414; Ditto, New Shares, No.3, 10; South Wales, 54 4; Trent Valley, 184; Lyons and Avignon, 24; Great Northern of France, 54 I.

SATCrItDAY, TWO O'CLOCK.

The English Government Funds are unchanged. Bank Stock has been done at 214. No quotation of India Stock. The Foreign Funds are without alteration. The Railway Share Market is in the same state as in the morning; and Shares still continue in demand. The Bordeaux and Toulouse are heavy, in consequence of so large sale; but with that exception the French Shares are buoyant. We have to notice the following bargains in addition to those given in the morning: Bristol and Gloucester, 60; Caledonian, 74; Churnet Valley, 84 4; Direct Northern, 24 4; Dublin and Belfast, 54; Eastern Counties, 174; Eastern Union, Extension, 34; Great North of England, 179; Ditto, New, 39; Birmingham, 235; Brighton, 564 74 ex div.• South-western, ex div., 79; Ditto, New, 124; Ditto, New, No. 3, 94; Croydon:19i 184; London and York, 64; Manchester and Leeds, Half-shares, 604; Ilidiand, 127; Ditto, New, 34; Birmingham and Derby, 95; North Kent, 3; Manchester and Birmingham, 164; Shrewsbury, 74 64; South- eastern and Dover, ex div., 42; Ditto, New, No. 1, 17; Ditto, No. 2, 11a; Ditto, Na a, 94 10; Trent Valley, 184; York and North Midland, 106; Ditto, Half- shares, 524; Paris and Orleans, 444 5; Paris and Rouen, 424 a 4; Orleans and Bordeaux, 64; Paris and Strasburg, 24; Boulogne and Amiens, 5.

3 per Cent Consols

Columbian ex Venezuela • • . 144 Ditto for Account

991 I Danish 3 per Cents 89 90 3 per Cent Reduced

1001 Dutch 21 per Cents 621 34 34 per Cents

1034 ii Ditto 5 per Cents 991 Long Annuities

12 1-16 Ditto 4 per Cents

981 4

Bank Stock

2114 124 Mexican 5 per Cents 3.554 6 Exchequer Bills prem. 54 56 Ditto Deferred 164 4 India Stock

281 3 Portuguese New 5p. Cts. 1841 59 60 Brazilian 5 per Cents

89 90 Russian 5 per Cents 119 20 Belgian 44 per Cents

101 2 Spanish (Active) 5 per Cents 284 ChIllan 6 per Cents

100 2 Ditto 3 per Cents 1842 414