MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The American news brought by the Caledonia produced a favourable effect upon the Funds; and prices, which had receded slightly from the highest quota- bons of last week, were again carried up to the point then reached. Some large sales of Stock for Money have since occurred; and the market is this afternoon heavy at the closing quotations of last week. It is very generally reported that the private letters by the Caledonia are not of so favourable a character as the labile accounts; and hence there is an indisposition among the speculators to buy. The large sale of Reduced Three per Cents noticed in eeriest report having corn- pletely deluged the market with that particular stock, it has been a depreciation as compared with Three per Cent Consols. The true difference in value between the two varieties is that of the amount of dividend due upon each of them: this is always 1 per cent. During the quarters ending in January and July, the Three per Cent Consols ought to be by so much dearer than the Three per Cent Reduced; and daring the quarters ending in April and October, the two values .should be reversed, and Reduced Three per Cents ought to bear a higher price in the market than Consols. During the last few days, however, in consequence of the operation alluded to, the price of Three per Cents Reduced has been 11 per cent below that of Consols; and though the Bank-broker, by completing a large operation for the exchange of the one stock against the other, has to -a certain degree relieved the pressure upon the market, the difference between the two Stocks is still disproportional

The premium of Exchequer Bills is unchanged; and though money has been during the week occasionally in demand at the Stock Exchange, there is no alter- ation in the rate of commercial discounts.

In the Foreign Market, the business in Bonds has been of an unimportant cha- racter, and no material change in value has occurred. Some business has oc- curred in the New Portuguese Four per Cent Stock, at prices nearly similar to those at which the existing bonds are current in the market. The conversion of 'the present Stock and consequent issue of New Four per Cent Bouds will ccan- mence on the 19th. Mexican Bonds have not been materially affected by the ar- rival of the intelligence from America.

The transactions in Railway Shares have not been as extensive as usual; though the tone of the market, especially for the newer and minor varieties, has been much better during the _last two or three days than for some time before. The absent* of the usual stimulus to.speculation afforded by the proceedings of the Parlia- mentary Committees upon the various Railway Bills, combined with the necessity of preparing for the settlement which was effected today, has materially limited the operations of the week. The ingenuity of projectors, having exhausted itself in the concoction of foreign and home railways, is now developed in several new schemes for Joint-steck Companies*; all based upon the great modern prin. ciple," that a secretary and of directors can do for their shareholders the most common and everyday act of social life much better and cheaper than the.parties themselves. Hence, we have projects put forth daily for the employment of capital, the bare mention of which would excite laughter, were it not for the recollectiou that the disastrous panic of 1825 was heralded by an- nouncements of precisely similar character.

The Shares of the French Lines have improved; and speculation seems about to recommence in them. An eminent broker bought three thousand shares in the two high-priced Paris and Lyons lines on Wednesday; and this operation has given a general stimulus to these securities; which were today and yesterday all in demand at prices slightly in advance of those of last week. The Namur and Liege Shares are also in the ascendant; the bill having made some progress in the Belgian Chambers. But Belgian Shares are not otherwise much in favour, in consequence of the stringent terms which the Government exacts from the ad- venturer.

SATURDAY, TWELVE O'CLOCK.

The English Funds were heavy at the commencement of business, but are now firmer; Consols both for Money and Account being 99 A. No change or business of importance in the Foreign Market. The Railway Shares are generally firmer, though no material improvement in prices has occurred. Among the French lines, the impulse given to the shares of Ganneron's and Lafitte's Paris and Lyons has continued, and both these are at an improvement upon yesterday's prices. The following is the list of bargains

ac y occurring: Armagh, Port Rush, and Coleraine, 2/ ; Caledonian, 11 1; Chester and Holyhead, 16 1; Shurnet Valley, 6}; Dublin and Galway, 41; Great Western, 186; Ditto, Half shares, 105; 131ackwall, 9-1; Greenwich, 10A ; Midland, 164; Ditto, New, 20; Birmingham and Derby, 126 5; Northern and Eastern, 661; Shrewsbury, 51 A; South-eastern and Dover, 41; South Wales, 51; Great North of France, 51- Paris and Lyons, (Lafitte's,) 31; Paris and Lyons, (Ganneron's,) 3; Paris and Rouen, 421; Great North of France, (Rosa- mers,) 21; North of Spain, 21.

The English Fends are unchanged, but close firmly at the prices given below. The only change in the Foreign Market is in Portuguese Bonds, which are in slight demand. The English Railway Shares are firmer, especially the smaller varieties; but the French are not quite so brisk, the high prices of the morning having brought in sellers. We have to notice the following bargains since the morning : Aberdeen, 41; Bristol and Gloucester, 60; Guildford, Portsmouth, and Fareham, 5A; Brighton, 64; South-western, 791; Midland, 164 21 4A; North British, 171 A; Rugby, Worcester, and Tring, 411; South Wales, 6; Trent Valley Continuation, 21; Boulogne and Amiens, 101; Bordeaux, Toulouse, and Cette, 2A Great North of France, 51 1; Orleans and Bordeaux, 10/; Paris and Lyons, (Lafitte's,) 3A; Ditto, (Ganneron's,) 21; Louvain and Jemappe, 41 A ; British Iron Scrip, 201. 151 i

89 90

631 1 ' 98# 1

361 7

171 1

661 T1 1171 1181

301 1 42d 1

SATURDAY, Two o'cLoCE.

3 per Cent Consols

99 1 Columbian ex Venezuela ...

Ditto for Account

99 t Danish 3 per Cents•ex. dlv.

3 per Cent Reduced ..... 98 I Dutch 21 per Cents 31 per Cents

1001 II Ditto 5 per Cents Long Annuities

111 1 Ditto 4 per Cents Bank Stock

Mexican 5 per Cents Exchequer Bills Prem. 54 6 Ditto Deferred India Stock

Portuguese New 5 p. Cie. 1841 Brazilian 5 per Cents

89 90 Russian 5 per Cents Belgian 41 per Cents

99 100 Spanish (Active) 5 per Cents Chillan 6 per Cents

98 100 Ditto 3 per Cents 1842