1 MAY 1847, Page 10



The Emperor of Russia is reported to have extended his favour to the English as well as to the French, and to have given instructions to his agents in this country and in Holland to purchase Russian and other Stocks to a large amount. The Imperial ukase authorizing this operation is dated St. Petersburg, 7th April. It sets apart 30.000.000 silver roubles, or about 4,750,0001., for the purpose: of that sum, 2,000,0001. has already been invested in the Bank of France; and a considerable part is expected to arrive in this country. To this cause may be referred the firmness of the market for Dutch Stock, entirely supported by the demand for Holland, where it is understood that very large amounts of Two-and- a-half per Cent certificates have been sent in to the Government to be cancelled, the stock being inscribed in the name of the holder.

The effect of this intelligence upon the prices of the English Funds has been very favourable. The opening quotation of Consols for Account was 861: the price speedily rose to 871; after some downward fluctuation reached 88; and is now [four o'clock] 871 /. Bank Stock has experienced a very great decline: a broker having some to sell yesterday, could not get any offer for it: the nominal price Was 192; but he could only get 189. Business has occurred at that price again today, but also at 191. The Bank of England have been more liberal in their discounts on one or two days this week; but the general spirit of caution which has marked their recent proceedings can hardly be said to have been re- laxed. The current rate of discount continues at 6 per cent. Exchequer Bills have been as low as 10s. discount; but are better today, and have ranged from 8s. to 2s. discount. The pressure for money has been unusually severe in the Stock Exchange; and today, upon the settlement in the Foreign Market, the rate of in- terest upon loans for a few days ranged from 6 to 10 per cent; while late in the day 7 per cent was given for loans upon the security of English Stock. The Russian investment has not affected the value of Foreign Stocks mate- rially. Dutch Two-and-a-half per Cents are rather firmer: they were in demand at 581, and are nominally quoted 581 to 59 at the close of business. Spanish Stock may be quoted slightly firmer for both varieties. The intelligence from the Peninsula is considered rather favourable, and there is a trifling demand for Por- tuguese Bonds. The Railway Shares are without any material improvement. The tone of the various markets is rather better than last week, and in some instances an im- provement may be noticed. The French Shares are rather firmer, but the busi- ness transacted in them has been of a very limited character. Considerable alarm has been excited among the holders of the East Indian Shares, by the dis- covery of extensive forgeries: the amount in circulation is said to exceed several thousands.


The English Stock Market has received a check; the vote of bat night in the House of Commons being an indication of a further pressure upon the money- market for the loans to the Irish railways. Consols for Account opened at 88; and have since been done at 87/; the present price is 871 1 for Money, and 871 / for Account. The business occurring is, however, quite unimportant, and for all practical purposes the Stock Exchange might as well have been closed, to- day being a holyday at the Bank. We cannot record a single bargain as having been effected in the Foreign Funds; the prices of which are all the same as yesterday. No change or transactions of moment have occcurred in the Railway shares; the prices of which are nearly the same. The following are the only bargains as yet recorded: Aberdeen, 26; Caledoidan, 241; Eastern Counties, 191 1 1; Eastern Union, 51; Great Western, Fifths, 261; Blackwell, 74; Newcastle and Berwick, 26 51; Ditto, New, 74 7; North British, Quarter-shares, 31; Ditto, Extension, 11; Ditto, Thirds, 21; North Staffordshire, ; Oxford, Worcester, and Wolverhampton, 131; South-eastern and Dover, No. 3, 15; Ditto, No. 4, 5; York and Newcastle, New, 131; Ditto, Preference, 71; York and North Midland, 824. SATURDAT, Two O'CLOCK. The English Funds close at the morning's prices. Consols have been at 871 for Account, but are now 871 1. The business transacted has been quite unim- portant. No change in the Foreign Funds or Railway Shares. The following are the only bargains since the morning. Caledonian, 25; Eastern Counties, York Extension, 54; Great Western, 1141 131 141; London and South-western, 24; Midland, 116 17; South-eastern and Dover, 364 1; Ditto, New, No. 2, 12k; Ditto, New, No. 3, 151; Ditto, New, No. 4, 51; Lyons and Avignon, 214;

Pans and Lyons, Constituted, 51; Paris and Rouen 361.

874 4 Danish Rotten, Cents 867 59 Dutch 24 per Cents 581 9

861 3 Ditto 4 per Cents 884 9

881 Mexican 5 per Cents...1846 194 201

91 New Grenada

189 91 Portuguese New 5 p. Cts. 1841 3194 2:

8 2 db. Peruvian 38 40 Russian 5 per Cents 109 1f 82 4 Spanish (Active) 5 per Cents 241 51 94 6 Ditto 3 per Cents 1842 341 51 Venezuela 38 40 3 per Cent Consols Dittofor Account 8 per Cent Reduced 31 per Cents Long Annuities Bank Stock Exchequer BIM India Stock Brazilian 5 per Cents Belgian 41 per Cents Buenos Ayres 6 per Cent ... 38 40 Chllian6perCents 91 3