THE MONEY MARKET.
&rocs. EXCHANGE, FRIDAY EVENING. —Another week has passed since our, last report, without affording any safe criteria of the pro- bable prospects of our Money Market for the beginning year. The demand for Stock on the part of the public, during the week, has been rather considerable ; but although a scarcity of Stock was talked of, the supply proved not only equal to but rather beyond the de- mand, and some depression of prices has been the consequence. The closing price of Consols for the opening (which includes the half-year's dividend) was 871 on Saturday last. On Monday it advanced to 871 for a short time, but 87i to / soon became the nearest price, and remained so until the close of Wednesday's market. On Thursday the only prices were 87i and fa and the market opened this morning at these prices, but they were not long maintained; for upon a large amount of Reduced 3 per
Cents, being sold, the price of Consols fell to 87i to and eventually te Eln to which was the closing price. It must be confessed that this state of things has disappointed many of the speculators for a rise most griev- ously. The payment of the Dividends, the lever which was to work such
wonders, has done nothing ; or rather, as we surmised last week, its effect had been long ago anticipated as well as overrated. This disappointment seems also not unlikely to work its own aggravation. It has had, and will probably still have, the effect of forcing premature sales of Stock, owing to the near approach of the account day ; and, upon the whole, we must confess that we have seen the market wear a much better appear- ance than it did this afternoon.
A good deal has been said, or rather written, during the week on the proliable state of the Money Market as the spring advances, and a certain cotemporary has been labouring to show that there is no ground for ap- prehending a scarcity of this very useful commodity. But he does not seem to have satisfied even his own employers, far less his readers. We have ourselves, in our reports for some time past, rather inclined to a contrary opinion, and have all along thought that the payments for our corni importations, occurring simultaneously with the preparations for withdrawing the small note circulation, was likely to occasion consi- derable difficulty. It is certainly an unfavourable symptom that the Funds should have declined since the Dividends have come into circulation, and it is also redarkable that the rise of the French Funds to 75 has produced no corresponding effect upon Consols.
The heavy Stocks have all declined with Consols, and so have India Bonds. Exchequer Bills, after having been done at 75s., are now at 72s., the price of last week ; and India Bonds, which on Monday were so high as '18s., have fallen to 72s.
In the Foreign Market some of the Bonds have declined materially, par- ticularly-Portuguese, which have retrograded to almost their old position before the rise which we adverted to last week. They are now below 54. Brazilian Bonds, after touching 63i, are now worth 63 only. Russian, on the contrary, (and we have before had occasion to remark upon the eccentric movements of this Stock) have risen to 96, but for what reason, we confess, is beyond our comprehension. French Stock continues to approximate to the prices of our own funds. Spanish, forlorn and neglected, are at 94 to 10. The price of Mexican has been maintained with tolerable firmness at about 33i. In the other South American Bonds there is nothing worthy of observation.
There is nothing whatever doing in Shares.
Bank Stock, div. 8 per Cent. 212/ 3 per Cent. Reduced, 861 / 3 per Cent. Consols, 854 3/ per Cent. 1818,
3/ per Cent. Reduced, 951 96 New 4 per Cents. 1822, 1014 4 a 4 per Cents. 18264 105i /
Long Annuities, (which expire 5th Jan.
1860) 193 20 19 15-16 India Stock, die. 10/ per Cent. 238/ 239/ South Sea Stork, div. al per Cent.
India Bonds, (4 per Cent. until March, 1829, thereafter 3 perCent.) Exchequer Bills, (interest 2d. per Cent. per Diem,) 72, 6S pm. Consols for the opening, 21 Jan. (includ- ing div.) 87:1'4
FOREIGN FONDS.
Austrian Bonds, 5 per cent.
Brazilian Bonds, 5 per cent. 63
Buenos Ayres 6 Cent. 47 48
Chilian, 6 per Cent. 23 24 Colombian, Ditto, 1624, 6 per Cent. 23 23/ Danish, 3 per Cent. 63 Greek 5 per Cent. 16 17A Mexican 5 per Cent 26 27 Ditto 6 per Cent. 33/ Neapolitan 5 per Cent.
Peruvian, 6 per Cent. 17 18
Portuguese, 5 per Cent. 534 543; Prussian, Russian, 954 96 Spanish, 94 10
SHARES.
Anglo-Mexican, 20/. 221. 10s. per share Brazilian, Imperial, 61/. to 631.
Real Del Monte, 150/.
Bolanos, 375/. to 385/.
Colombian, 12/. to 131.
United Mexican, lb/. 10.9. to 161.
SATURDAY, ONE o'cLocK.—There has been very little business all the morning, excepting in the adjustment of accounts for the settling-day on Thursday next. Consols for Account have been done at 87 and 571; 874 is the nearest price at present. Exchequer Bills have fallen to 68. There has been nothing done in India Bonds. In the Foreign Market there is nothing whatever to report.
