MONEY MARKET.
Scouts ExCHANOI, PntDAY ATTYSNOOR.
The English Stock Market has been heavy during the whole week ; and con- tinued depressed until this morning, when almost all descriptions of English Stock were nearly • per cent. below our last quotations. Some extensive purchases have, however, occurred this morning ; and the prices have all reached the point from which they had previously declined. There has nut been much business doing until to-day, and therefore little space for remark. The exports. tion of gold to America and fears for a renewal of the rebellion in Canada, may be stated as causes Of the depression. The premium upon Exchequer Bills anti India Bonds has improved, having risen from 62 to 67.
The usual half-yearly meeting of the proprietors of the Bank of England
was held yesterday; amid after some discussion, a dividend of 4 per cent. upon the capital stock of the company was declared for the half.year ending 5th April. The only circumstance of interest connected with this meeting Rap admission on the part of the Directors, that they have been obliged to dip into the rest or balance, to meet the payments made on account of the last dividend, and will be compelled to do so to a much greater extent on the present occasion. It appears that 20,000/. was abstracted from the "rest" to pay the October dividend, and that 44,000/. will be taken for a like purpose now. The pre.. sent amount of the " rest " is 2,810,000/. It also appears that there has not been any extension of the Branch Bank system; and that the Directors are alive to the necessity of providing against the contingency of a loss of income by the extinction of the Annuity of 500,0001. technically termed the Dead-weight, and are accumulating capital for that purpose. The proceedings of the meeting appear to have been satisfactory to the proprietary ; and the Stock has risen about 2i per cent., the price yesterday being 208h 209i. It will be remem- bered that, in the Autumn, Bank Stock declined from about the present prim to 202. It was then confidently rumoured that a reduction of dividend was absolutely necessary ; that not only hail the Direcctors been obliged to trench upon the "rest" for payment of the dividend, but that they were appropriating the whole of the Dead-weight to the same purpose. The disclosures made at the meeting of yesterday are very consolatory to the proprietary for though the report respecting the " rest " is confirmed, that with regard to the Dead. weight is contradicted ; and hence the improvement which has occurred in the value of the Stock.
In the Foreign Market, both Dutch and Belgian Bonds have experienced a decline; the former were at one time 1 per cent, below our last prices; the hitter have fallen about per cent. The cause for the depression of both is to be found in an increased issue of Stock ; the only point upon which the Govern. ments of the two countries are at all agreed, being the determination to raise New Loan. We should add, that the New Joan of the Belgian Government' to be one at Four-and.a.half per Cent., and that the greater portion of it is to be applied to pay off the existing Five per Cent. debt. Brazilian Stock has risen about 2 per cent. ; some of the speculators for the fall having experienced considerable difficulty in delivering their Stock on the last settling, when the 13onds were very scarce. South American Securities have been steady; both Mexican and Columbian having fluctuated between 28 and 29.
Spanish Stock has been in very great demand ; the Active Bonds haviag
been at 22; and after receding again nearly 1 per cent., are to-day within a little of their highest quotation. the rumours of a Congress to settle the affairs of Spain, and of a New Loan, seem to obtain credit, and have induced some very extensive purchases of Stock. Portuguese Securities are also higher ; but the business transacted in theta his so extensive as Spanish Bonds, though the rise in price has been as g the heavier descriptions of Railway Shares have risen in the face of extensive *des. The cheaper sorts are, however, lower; the speculation in them having received a check Irons the indisposition of capitalists to lend money on them. SATURDAY. Twelve o'CLoelt. N'ery little has been doing in the English Funds. Consols for Mijpey are are 93, and for Account 9:11,. Exchequer Bills and India Bonds are 61 prem. In the Foreign Market, Brazilian Bonds ate lower, having been dune at 731. Spanish Stock has also declined ; the Active Stock opened at 21!.; 3, has been done at 2IA, and is now 21A a. Dutch Stock still continues depressed, the Five per Cents. being 102.-1 and the Three per Cents. 511.1 1. The Railway Shares are without material alteration. London and Birmingham 68 90 prem. ; Southampton 45 96 prem. ; Greenwich 17i ltq ' • Croydon I din. par ; Brighton 3 prem. ; Manchester and Birmingham tab4 preen.; Black. wall 64 7; Commercial do. Gi 7 prem.
3 per Cent. Consols 931 Brazilian 5 per Cents Ditto for Aeennnt
3 per Cent. Reduced Dutell 21 per Cents Bauk Stoek Ditto 3 per Cent. I tuna Stoek SShhatitt it L
Dilto Bonds
Exeheipter Bills Russian (MO 5 per Cent ... Belgian Spur Cents 64 prm Deferred Stock Danish 75I Slut 75t 64 pm Spadisli (1835)3 per Cent... I
Se
103 Passive Ditto 41
Previous page
