MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The determination of the Chancellor of the Exchequer to allow a discount of 5 per cent upon the advanced payments of the Loan, has been a very seasonable relief. The Bank Directors being thus assured of a considerable reduction of the present amount of Deficiency Bills, have become much more liberal, and money. has been more abundant. The lowest rate of discount may now be quoted at 6 per Cent; and the altered condition of the market is indicated by discounts being now obtainable at that or a higher rate, whereas it was lately almost impossible to procure them at all. With the alteration in the rate of interest upon Exche- quer Bills, an improvement in them took place: on Monday there was a con- siderable demaad, and the premium advanced to is.; the price afterwards declined, and today the closing quotation is at par to 4s. premium. It seems still uncertain whether a further increase of interest must not be allowed, in order to keep the bills at a premium and prevent the holders from claiming money at the maturity of the bills dated in June 1846. The English Market has been more steady than usual: after a downward fluctuation of per cent, the prices have again recovered, and are now precisely the same as trey were this day week; Consols for Money being 87k, and for Aocount 87A f. The transactions in the Foreign Market have been unimportant. Some d the better class of securities, which until the last few days have been unaffected by the demand for money, have declined, iu consequence of the pressure. Thus, SATURDAY', TWELVE o'clacit.

The weekly statement of the accounts of the Bank of England, for the seven days ending the 8th instant, exhibits in the Issue Department an increase of 282,270/. in the amount of notes issued and in that of both kinds of bullion in store; while in the Banking Department there is an increase of rather more than 46,0001. in the rest, of about 500,0001. in the public deposits, of 618,1401. in the other de- posits, of 199,1051. in the securities, and of 453,4551. in the balance of unissued notes. This portion of the account is balanced by the decrease of the following items, viz, seven-day and other bills, 21,5314 Government securities, 415,1721., coin, 81,2271. Notwithstanding the satisfactory nature of this account, the prices of the English Funds are lower this morning; Consols for Money being 86k 7, and for Account 87 A. This decline may be attributed to a pressure of Exchequer Bills upon the market; the price of these securities having declined to 1 dis- count; thus giving increased force to the opinion that a further augmentation of the rate of interest will be rendered necessary. The transactions in Railway Shares have as yet been confined to the following; which in some cases indicate a alight improvement upon the prices of yesterday: Aberdeen, 24; Eastern Coun- ties, 184 44; Great Northern 24; Great Western, 110 111; Brighton, 514 4 4; North-western, 1714 2; Midland, 114; Ditto, New, 384; Ditto, Birmingham and Derby, 89; Newcastle and Berwick, 244 25. Ditto, New, 64; North British Ex- tension, 4; Ditto, Thirds, 24; North Staffordshire, 94; Scottish Central, 224; South Yorkshire. Doncaster, and Goole, 14; West Riding Union, 4 premium; York and North Midland Extension, 404; Ditto, Preference, 94.

SATURDAY, Two o'Cr.ocz.

The afternoon has passed without any business of importance. The prices of almost every description of English and Foreign Stock and Railway Shares are the same as in the morning. Money is more abundant in the Stock Exchange; and as the current rate of interest upon loans for short periods is barely 4 per cent, the holders of Scrip of the new Loan are taking advantage of the discount offered upon the payments made in anticipation, and are generally paying it up. Aberdeen, 24; Caledonian, 234; Ditto, Half-shares, 14; Chester and Holyhead, 20; Eastern Counties, 44 44 4; Ditto, York Extension, 44; East Lancashire, 54; Great Western, 110 11 94; Ditto, Half-shares, 64; Ditto, Quarter-shares, 164; Ditto, Fifths, 244 5; Ditto, New, 7; London, Brighton, and South Coast, 514 74; London and North-western, 1714 2 1; London and South-western, 614 4; Midland, 114; Midland, Bristol, and Gloucester, 1234 4 3; Newcastle and Berwick, 244 54; North Staffordshire, 944 i 9; Scottish Central, 224 3; York and Newcastle, 344.

3 per cent Consols

Ditto for Account 3 per Cent Reduced

31 per Cents

Long Annuities Bank Stock Szchequer Bills India Stock Ittluillan 5 per Cents Belgian 41 per Cents Buenos Ayres 6 per Cent Milan 6 per Cents 8617

sm

85; 6 874 1 9 189 91 1 die I prom. 242 82 4 90 2 37 39 92 4

Danish 3 per Cents

Dutch 21 per Cents

Ditto 4 per Cents-

Mexican 5 per Cents 1846— New Grenada Portuguese New 5 p. Cts. 1841 Peruvian Russian 5 per Cents Spanish (Active) 5 per Cents Ditto 3 per Cents 1842 Venezuela 37 9 82 4 571 8 884 91 20 1 19 20 331 41 108 110 221 34 34 1 37 39

BANK OP ENGLAND.

An Account, pursuant to the Act 7th and 8th Victoria, cap. 32, for the week ending on Saturday the 8th day of May 1817.

ISSUE DEPAZTINENT•

Notes issued

£22,789,855

Oovenunent Debt

Other Securities E11,115,100 2,984.900

Gold Coin and Bullion 7,307,616

Silver Bullion

1,481,239

£22,788,855

E22,788,833

BANKING DEPARTMENT.

Proprietors' Capital

£14,553,000

Government Securities, (In-

Rest Public Deposits. 3,419,164 2,8;0,109

cluding Dead WeightAnnulty)g10 .308.14 I

Other Securities ...... 16,311,781 Other Deposits 8,910,328 Notes 3,196,533 Bevan Day and other Bills . ... 813,760 Gold and Silver Coln 799,901

L30,816.361

£30,816,361

• Including Exchequer, Sayings Banks, Commissioners of National Debt&Dividend Accounts.

Danish Bonds fell as low as 814, but have since risen to 824. The Stocks which are usually the favourites of the speculators have not been materially affeeted. Spanish Bonds, which had been depres■aed about 4 per cent below our last quotations, have risen to about that extent above them. Portuguese Bonds are without any important variation; the market for them being rather heavier. Money is much easier in the Stock Exchange than it has been; and at the settlement of the Foreign Account today, the rate of interest for loans upon the security of Foreign Stock varied from 6 to 8 per cent. The latter may be cited as the highest rate of loans upon the security of Railway Shares; for loans upon English Stock, for a few days, the rate may be quoted at from 4 to 5 percent. No marked change has occurred in the Railway Shares; but the prices of many of the better class are at a trifling advance upon our last quotations, and the general tone of the market ii slightly improved. Still the transactions are of a very unimportant character. We cannot report any revival in the price of the French or Foreign Shares.