MONEY MARKET. STOCK EXCHANGE, FRIDAY AFTERNOON.

The critical position of the French Ministry, in conjunction with the pressure for money occasioned by the speculation in Railway Shares, has caused the market for Enghsh Government Securities to be heavy ; Consols for Money having been as low as 99i, while for Account the price has declined to 100. The business transacted has been unimportant, chiefly in conaNnenee of the greater attraction of Railway speculation: indeed, to such an extent has the present desire for these investments operated to divert business from the English Funds, that severarof the leading jobbers and dealers in them have withdrawn to the more tempting and exciting markets for Railway Shares. Money is not so much in demand on the security of English Stock as l was last week; and the premium of Exchequer • Bills has improved, having been as high as 67, and being quoted today at 63& to s'tsfss. Bank Stock continues to advance ; and, after being at 215, is quoted today at 214 to 215. The Three-and-a-quarter per Cent Stock has fallen in about the same degree as Consols and Reduced Three per Cents, being today quoted at -1044, or about per cent below the highest recent price. In the Foreign Market, the transactions in Stock have not been extensive. There has been an improvement of from to 3 per cent in Dutch Four per -:Oents without any corresponding move in the other varieties. Belgian Scrip and Scrip continue depressed; both being at about 1 per cent premium. The former is now becoming a heavy stock, as 36 per cent is already paid upon it; • and the third payment of 12 per cent on Monday next will carry the payments to 48 per cent, leaving only ono other of 1l, on the let March, to complete the pay- - meat in full. In Spanish Stock the fluctuations of the week have been quite un- important: but an impulse has been given to the market today, by the prevalence of a report that negotiations for a commercial treaty with this country have coin- : the Three per Cent Stock, which had fallen to 40, has improved to 403; and the Active, from 28, has risen to 284; both varieties closing at the high- est price. Portuguese Converted Bonds have declined, under the pressure of continued sales ; which though not individually extensive have been in the ag- . sufficient to depress prices about 1 per cent. These operations have been =aft; by Dutch houses ; and, as the purchases hitherto so continually made on Portuguese account have ceased, the Market has given way to the extent stated.

• ;Mexican Bonds have experienced an improvement of more than 1 per cent. It appear- • hag by the last recent advices from the United States that there is no immediate pros- pect of the annexation of Texas, the alarm occasioned by the agitation of this measure has subsided; and, as the imminency of war between the two republics has been averted, the Mexican Bondholders and speculators have taken courage, and prices are again assuming an upward tendency; closing this afternoon at the advance above stated.

The settlement of the Foreign Account occurred today; and as the transac- tions have been so comparatively trifling, it was arranged with the most perfect ease.

Considerable pressure was experienced in the Share Market; the speculation in Railway Shares not having received any check, and being as rife as ever. The demand for money thus occasioned was very considerable; and in some instances interest as high as at the rate of 25 per cent per annum was given for loans upon the lower description of Shares. All the disposable money of capitalists accus- tomed to make loans upon securities is consequently diverted to this favourable field of employment; and to this circumstance may in a great degree be attri- buted, as already stated, the languid state of the English Funds. No further deeision of the Board of Trade respecting the new lines of railway has yet ap- ; but many speculations have originated in expectation of its occurrence. ng those most in demand may be cited the London and York, which have risen about 21. 10s. per share; one broker having in a few days bought about 2,000 shares. They are not so much in favour this afternoon; closing about 1/. lower than the highest price of the day. Churnet Valley Shares are also about 21. per share higher- having risen to 74 premium, and closing at the highest price. Some of the larger and more important Shares have risen most remarkably : Bir mingham and Gloucester, 15; Great Western, about Ha.; Bristol and Gloucester, from 4/. to 5/. per share; all these advances having occurred upon previous high prices. Croydon are about 21. higher; some arrangement being m progress to lease the line to the South-eastern Company. Brighton are at 1/. advance; and every description of Shares may be quoted as improving.

SATURDAY, TWELVE O'CLOCK.

There is scarcely any change or business of importance in the English or Foreign Funds. Mexican and Spanish Bonds are both in better demand than

y. The main object of interest is, however, the speculation in Railway

; and as the Board of Trade have reported (among others) in favour of the Churnet Valley line, the shares are in demand at an advance of 31. upon _yesterday's quotations. Rugby have also risen about 11., and are now sought after at 44. The improvement in Birmingham and Gloucester, and Bristol and Gloucester, still continues. Manchester and Leeds have advanced 10/. upon recent quotations- It will be seen from the following list that a very general business lisa occurred, mostly at improved prices : Birmingham and Gloucester, 127 129; Ditto, New, 324; Bristol and Exeter, 78; Bristol and Gloucester, 51 50; Caledo- nian, 64 * .3; Chester and Holyhead, 7 64; Eastern Counties,. 29; Great Western, Half-shares 104; Hull and Selby, Quarter-shares, 18; Birmingham, 236; Ditto, Quarter-shares, 284; Greenwich, 114; South-western, 80; Croydon, 181; Man- ester and Leeds, 138 140 336; Ditto, Half-share 63; South-eastern and Dover ahare.s, 49; Ditto, New, 214; Trent Valley, York, North Midland, and Selby Extension, 13,; London and York 54 ; Churnet Valley, 12 11* fi; Shrewsbury, 5 44; South Wales, 54; Rugby, 34 4-4; New Southampton, 13 124 ; Newcastle and Berwick, 15 164. SATURDAY, Two O'CLOCK. The English -Funds close at an improvement of 4 per cent, without any business of importance having occurred. In the Foreign Market, Spanish Stock continues to advance ; the Three per Cents being 44 4, and the Five per Cent Active 28i 4, both closing at the highest price: the other Foreign Funds are unchanged. The Railway business has been of the usual extensive and important character: Bristol and Gloucester have improved Si. on the opening price, and are last marked 55Brighton have advanced 11. The chief business of the afternoon has been confined to Churnet Valley, Rugby, Newcastle and Berwick, Shrewsbury and Dudley, and York; all of which have fluctuated materially. We have to notice the following bargains in addition to those given in the morning: Birmingham and Gloucester, 130 284; Bristol and Gloucester, 55; Dublin and Cashel, 1.24; Eastern Counties, 184; Great North of England, 152 1; Great Western, 182; Ditto, Fifths, 41; Birming- ham, 235 Blackwall, 74; Brighton, 534 4; Croydon, 19; Midland, 128; New castle and Darlington, 69 74; North British, 124; South Devon, 154; London and York, 543; Dublin and Galway, 24; Shrewsbury and Dudley, 44 64; Chur- net Valley, 10 94 premium; Cambridge and Lincoln, 43 4; South Wales, 64; tEellend, 40/. Shares, 94 9; Newcastle and Berwick, 153 164 153; Paris and Orleans, 444, Paris and Rouen, 42; Strasburg and Bask, 124; Paris and Lyons, 33 4; Orleans and Vierzon, 104; Boulogne and Amiens, 54 5.

2 per Cent Consols - - • • • • Ditto for Account 3 per Cent Reduced 34 per Cents

100 1004 4 1004 4 1044

Columbian ex Venezuela...

Danish 3 per Cents

Dutch 21 per Cents

Ditto 5 per Cents

144 89 90 631 1 991

Long Annuities

12 1-16 Ditto 4 per Cents 984 9 Bank Stock

2141 15 Mexican 5 per Cents 361 Tilichequer Bills prem. 63 5 Ditto Deferred 161 India Stock

286 Portuguese New 5 p. Cts. 1841 59 60 Brazilian 5 per Cents

89 91

Russian 5 per Cents

119 20 Belgian 4/ per Cents

1014 2 Spanish (Active) 5 per Cents 284 Chtlian 6 per Cents

100 2 Ditto 3 per Cents 1842 4144