1 FEBRUARY 1840, Page 12


SToem BeenANoit, raiDAT AFTERNOON.

'With the exception of a momentary symptom of a tendency to depression, On Tuesday morning, all descriptions of English Stock Lane been in the muse of the week as high as the top quotations of our last report. The demand for for Money Stock has been very great ; and the dilferclICO between Consols thr Money and fur Account is now only h per cent. Money is extremely alma- dant ; and Exchequer Bills have been as high us 22s. prem.; but several parcels having been sold at 20s. and 18s. prem., the market has declined to Hs., and is to-day heavy at 16s. to 18s. prem. There has been some demand for money among the dealers in Exchequer Bills, but otherwise little employment for it in the Stock Exchange during the week. The Northern European Stocks have been firm ; and Dutch Bonds have evinced some tendency to advance ; but, though the market for these Securities here is firm, it is riot so in Renaud, and our prices have given way slightly once or twice, responding to the intelligence (tin depression in Amsterdam. The settlement of the Foreign Account occurred to-day ; and from the abun- dance of money, the speculators wen: enabled to carry mer their accounts upon more advantageous ternis than usual. From 8 to 12 per cent was given in some cases for the loan of money upon Spanish Stuck; but in Cohnobian and Portuguese the rate of interest was much lower. Them:omit of floating Stock of all descriptions seems to be much less than usual,

The Lisbon mail of Monday brought no intelligence of h»portance, and the fluctuations of Portuguese Stock have consequently been but trifling.

Spanish has been subject to many variations; aml after being, on Monday, at 26k, was to-day as low as 26, but rallied 111 before the close of business. There is still much uncertainty as to the filet of CAnntnA's death; and from the decline in the price of Active Stuck in Paris Oil Tuesday and Wednesday, we should infer that it was not then positively known in Paris. At time meeting of the Spanish Bondholders held on Wednesday at the London Tavern, resolutions were passed condemnatory of the proposed circu- lation of the bonds now in the hands of the contractors, Messrs. Au otfors: and RICARDO, and of the agents of the Government, Messrs. Zrru1t'rA. The only part of the proceedings of the meeting, of general interest, are the statisti- cal and financial details given by the various speakers. By them we find that the whole amount of Spanish Foreign Debt bearing interest, and distinguished in the prices-current as Active Debt, is about 30,000,0001.; the Domestic Debt, or Paper Vales, 90,000,000/.; Debt not hearing interest, 20,000,000/.; in all 126,000,000/. One speaker made the debt amount t o 253,000,010/. ; but we be- lieve that this larger amount arises from the capital of the Deferred and Pas- sive being reckoned at par. instead of at their market value. The revenue in 1812 is stated to have (Ken 5,500,0001, while the exponliture was 8,300,0001.; in 1833, the revenue is stated at 5,71I0,000/., and the expenditure at 7,40-1,000/. The expected proposals train 111. MosousnA, the agent for the republic of New Granada, lime been made public : they arc as follows. let, R is pro- posed to convert that portion of (2olumbian Debt assigned to New Granada into a Stock bearing hitt rest at the rate of 2 per cent, per annum ; of which, from and after the year 1851, 100,000/. of nominal capitc.1 Stock annually shall

be converted into a Stock bearing 0 per cent. t, until the whole shall be

so converted : the numbers of the Bends for moversino in each year, to be decided by a lottery. 2d, As to the 84 per cent. now the for the arrears of interest, it is proposed to convert such over-due interest into a Dek.rred Stock; and from and after the year 1851, it is proposed to convert annually 100,000/. of such Deferred Stock into a Stuck Loring interest at the rate of 3 per cent. per annum, until the whok amim et of Deferred Stock shall be so converted ; the numburs of the Bona:, (),,vertihle in each year to lie deter- mined by lottery, as above. It is uncertain whether the Committee of Bond- holders will recommend the general body to accept I lie-e terms, but it is gene- rally believed that they will do so if they are Aghtly The price of Columbian Stock has not been much affected My the po%,:ication of these pro- posals. In the former part of the week the market was heavy, at 27 ; but it has since improved nearly 1 per cent. Brazilian Bends eontinue gradually to improve ; and are very scarce, investment having 1:111,0,1 entirely cleared the mark( t of stock.

The Railway Share markets are advancing ; and the Brighton Shares have

in the last few days risen nearly 2/ per share. The change in the value of money will have more elfeet upon Railway Securities than any other. Most of the companies have borrowed large sums, at rates of interest varying from 4 to 5 per cent, ; and if the current rate of interest had continurd at 6 per cent., the holders of their bonds at the lower rates would of course have requited either that their interest should be increased or the bonds paid oil; and this con- tingency has been avoided by the recent change. It is not therefore at nil

surprising that the Shares of all kinds should be in demand under present dr., eumstances.


The English Funds are generally at yesterday's prices; Exchequer Bills are, however, lower, and money is situ wanted upon these securities, which are quoted at 15s. to 17s. prem. In time Foreign Market, Spanish Stock is de- pressed to 261„, in consequence of a decline of i per cent. in Paris on Thurs. day. The other Foreign Funds arc without variation. Brighton Shares are in demand at 9s. dis, or 21/. per share. It is understood that a considerable improvement has occurred in them at Liverpool, where they were yesterday at 8s. this., or 221. ; in addition to which, it was stated at the recent half-yearly meeting of the proprietors, that the line would be opened for two-thirds of' the whole extent during the present year. The business of the morning has been trilling, and has been almost entirely confined to a few transactions in Spanish Stock:and Brighton Shares.

Brazilian 5 per Cents .... • • 761 7

Belgian 5 per Cents 102 3 Columbian 6 per Cents. 1824 274 8

Danish 3 per Cents. 76 7

Dutch 2f per Cents 521 1 Portuguese Regency 5 per Cts 341

Ditto 8 per Cents 234 Russian al per Cents 114 115 Spanish (Active) WI

3 per Cent. Consols .. 211 4

Ditto fir Aeemitit

910 I 3 per Cent. Reduced 911 4 31 per Cent. Ditto 291 1 New 31 per Cents 991- Batik Shad: 179 80 Exelnapmer Bills 15 17 India Stud: the Account 240 50