MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The upward tendency of the Money Market has been checked by the warlike tenor of the recent accounts from Constantinople, and by the pressure for money ; and these two circumstances together have produced a decline of a per cent. in the prices of the English Funds—though the business has been on a limited scale. Bank Stock 'IRS experienced a serious decline, and is 3 per cent. lower than our last iveek's quotations : the market has been heavy for some time, and was consequently unable to bear up agaiust a sale of 7,000/. Stock made on Wednesday. The near approach of the end of the quarter, in conjunction with the exertions of the Bank Directors, has rendered money extremely scarce ; and the pressure will doubtless continue until after the pay- ment of the Dividends in July.
In the Foreign Market, the business has been chiefly confined to South Ameri- can Securities; which have improved very considerably; Chili Stock having risen to 33, and Columbian to 32k, both these prices being from 1 to 2 per cent. above our last quotations. Spanish and Portuguese Securities have evinced a dispo- sition to rise, which has been checked by the high rate of interest for money ; the speculators having been compelled to pay as much as 12 and 15 per cent. upon their accounts to carry them over to the end of June. This distress has not been confined to the Non-dividend Stocks, though it was greatest in them ; much higher rates of interest than usual having been given upon Dutch, Bel- gian, and the higher description of Foreign Securities.
The unexampled success that has attended the opening of the Croydon Railway, as evinced by the large daily receipts upon the line, has given in- creased currency to the shares of this undertaking, and appears to have induced speculation in some of the minor undertakings of the same description ; but the scarcity of money must operate to prevent any considerable improvement in prices.
3 per Cent. Consols Ditto for Account 3 per Cent. Reduced.. New 34 per Cent. Anus Bank Stock India Stock Ditto Bonds Exchequer Bills Belgian 5 per Cents.
shut oat ; 921 t shut 1921 shut 32 pm. 30 pm. 1011 2
Brazilian 5 per Cents Danish 3 per Cents Dutch 21 per Cents Portuguese Regency 5 per Cts Ditto 3 per Cents Russian (1822) 5 per Cent Spanish 0835) 5 per Cent Deferred Stock
Passive Ditto 794 1- 74* 51 551 6 351 1 214 4 1121 13 191 I 81 9 41 1
SATURDAY, TWEIXE O'CLOCK.
The recoil which took place in the exchanges yesterday afternoon, when most of the current rates gave way about a per cent., has produced adecline in the English Funds, and Consols for Account have been sellers at 93a, but have again turned buyers. Bank Stock has improved, and the .quotrftion which was yesterday 190a and 1911, is to-day 1021. The fall m Consols would doubtless have been more extensive, but the effect of the decline of the exchanges has been counteracted by the pacific character of the intelligence from the East. In the Foreign 'Market, prices are generally the same as yes- terday, and most of the current Securities are heavy, with the exception of the South American, which fully support yesterday's prices : Columbian 324- ; Chilian 32 34 ; Buenos Ayres 18 20; Mexican are also quoted at 26i 4.
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