19 OCTOBER 1839, Page 10

MONEY MARKET.

ST0eR EXellANOE. FRIDAY AFTLfeffION.

The buoyant appearance of the Money-market to which we last week alluded, has given place to one of a very different character, and its aspect has been as gloomy during the present as it was lively during the past week. This chugs is, we believe, chiefly attributable to the financial operations of the Bank of the United States. It will be in the recollection of our readers, that large remit, tepees in bullion were expected by the two recent arrivals of the Great Western and British Queen steam vessels from New York; and although the amount actually received was about 256,0001., it was less than had been anticipated. A large remittance in Bonds was, however, received,and an arrangement has been concluded, by which these assets have been made available. A loan to the ex. tent of 800,000/. has been contracted by Mr. JAUDON on the behalf of' the United States Bank, to bear interest at the rate of 6 per cent, per annum, redeemable at par in the years 1841 and 1842. The price at which it has been taken is 92. The dividends are payable at Messrs.DENISoN and Co's., Lombard Street ; with whom are deposited as collateral security the same amount (800,0001.) of Philadelphia State Bonds. It is now at from 3 to 4 per cent. premium This arrangement has materially increased the demand for money, and the prices of almost every description of English security have declined front / to per ceut The settlement of the Consol Account occurred on Tuesday ; when, front the scarcity of money, the speculators were compelled to pay a very high rate of interest to enable them to carry over stock to the next Account. The market, however, did not give way mote than per cent., 901, having been the lowest quotation for Money on the Account-day. It was further de- pressed on Wednesday, when the price declined to 914 for Money, and 90i for the November Account ; but has slightly rallied during yesterday and to-day; purchases of Reduced Three per Cent. Stock, on behalf of the East India Company, having operated to relieve in some degree the pressure for money, These purchases, made by the Government broker to the extent of 30,0001., were on account of the Sinking Fund established for the liquidation of the East India Stock, and are provided fur by the interest of 1,200,000/. Three per Cent. Stuck, which, agreeable to the provisions of an act of Parliament, is to accumulate until the fund shall become sufficient to pay off the capital of the East India Stock at 200 per cent. Bank Stock has experienced a decline of more than 2 per cent., and has been as low as 179. Exchequer Bills have fluc- tuated between 4 ills. and liar; and India Bonds have been done on one or two occasions at I prem. It is stated that the Bank Directors are very earnest in pressing the Government to issue an Order in Council for suspendieg in their favour the act of Parliament by which the circulation of notes for sums ones than 5/. is prohibited. The Ministry are, however, understood to have refused compliance with this request. The usual monthly statement of the liabilities of the Bank will he published to-morrow ; and it is generally believed that the amount of bullion in store will not be augmented, as, though there have been some large importations, the necessity of paying the small dividends in cash has abstracted 700,000 sovereigns from the Bank cutlet's; but as this bullion has not been exported, a considerable part of it must soon find its way bark ago i n. The foreign exchanges have declined slightly, and the appearance of them is heavy. It is understood that the Bank has drawn upon Paris to the lull ex. tent of the amount (2,000,000/.) that the Bank of France undertook to dis- count ; and as this support to the exchanges has been withdrawn, a further de- cline is anticipated. Dutch Bonds, which had previously been steady betweea 531 and 54, experienced yesterday a sudden decline of more than I per cent, and were done as low as 521-; and though the price has improved slightly to- day, the market is still heavy. Some extensive sales have been effected by a broker known to act for houses connected with Amsterdam, and it is confidently stated that a loan of 20,000,000 guilders is in agitation. The other Northern European Stocks are heavy, without material alteration in price, or busi- ness of importance. Brazilian is without any change. Columbian improved on Wednesday to 341, but has since given way about 2 per cent Mexican is unchanged. Spanish Stock has been tolerably firm till yesterday, and hitus fluctuated het ween 311 and 304. The opening price of yesterday was 31, but in the course of the day a sale of 70,000 depressed the price to 30a and thought the market rallied slightly afterwards, and opened this morning at 304, it has since given way to 30. Portuguese Securities have also fallen ; the Five per Cents. being to-day about 2 per cent. lower than on Monday : the cause of decline has been the same as in the Spanish, viz, large sales of Stock, caused by the pressure for money.

S:vreanAv, Poen o'Ctoes.

The market closes firmer, and almost every description of English Stock Its' recovered the depression to which it was subjected in the morning ; the closing quotations being almost in every case the sante as at opening of the market. Exchequer Bills have improved, and are quoted at Is. dis. India Stock has been done at 246. The price of Bank Stock is unchanged. lit the Foreign :Market, Dutch Bonds are rather firmer, but are still A per cent, below the opening price of the day ; as are the Spanish and Portuguese, although Spanish is 4 and Portuguese 'I'llree per Cents. a per cent. above the lowest price of the afternoon. The South American Securities are unchanged.

3 re Cent. Consols 721 I

811i 90 Brazilian 5 per Cents

Dino for Ace( mit 901 4 , 73 4 3 per Cont. Reduced.. eX die. 89!,- Itankli 3 per Cents Nim. 34 per Cent. Antis. Dutch 24 p n 521 1

per Cets

97I 3 Witt...mese Regency 5 per Cts. 351 1

lta,iik Stuck 241

1774 8 Into, 3 per Cents Italia Stock 245 Russian (1822) 5 per Cent.... 1104 1111

Ditto 'Muds

Exchequer Bills Spanish (1835) 6 per Cent.... 291 30

131 -.1

4 2 dis Deferred Stock Belgian 5 per Cents. 1021 3 Passive Ditto 71 I Selree.W, Twitt.vE o'Cr.ont.

The EuigiiIu Stock market is heavy, and has given way fully t per cent. The opening price of Consols was 90,1; sellers for Money, and 004 for Account; and the prt,ent price, the lowest of the morning, is 811i 90 for Money and 0Q1 for Account. The -Reduced Three.and-a-balf per Cents, have ex. ptrieneed a greater decline, and after being at 97i, are now 964. Bank Stock is 11 per cent, louver than yesterday, being quoted at 1771178 ; and India Stuck is at 245. We have no quotation of India Bonds. Exchequer Bills, are, however, louver, being 4s. to 2s. dis. This decline is solely attributable to the state of the market, which is borne down by an aggregation of small sales for Money, and has not been preduced by any extensive operation. The Foreign Funds are generally lower, :Dutch Bonds, which opened at 524 being quoted at 524 1. Brazilian are about 4 per c-ot. helost the lir,t price. Col at 'Nan are rather firmer than yesterday, viz. 32A 4. me:deau are 314 32, and Peruvian 18 20. The Pe- ninsular Securities, in the early part of the morning, were firm at the closing prices of yesterday, hut have declined with Consols ; both Portuguese and Spanish Boils being from to 1, per cent. lower.