MONEY MARKET.

• STOCK EXCHANOS, FRIDAY APTERWOOlt.

The necessity of providing the Railway deposits appears to have exhausted nearly all the available resources of the country; and the pressure for money oc- casioned by the large payments on this account into the Court of Chancery con- tinues to increase the severity daily. The rate of discount may be now stated at from 3i per cent to 51 per cent, and the latter rate has within these few days become general among the bankers. Of the -14,000,0001 recently paid on Rail- way account, very little more than 2.000;0001: has been liberated by investment in the Funds; the remainder continues in deposit in the Bank of England; and as there is no way to render this large amount useful but by investment in Eng- lish Funds or Exchequer Bills,—a course which the parties interested seem gene- rally unwilling to adopt,—it is probable that the scarcity of money will continue for some time, and that the countrywill pay a severe penalty for its general in- dulgence in the absurd speculations of the last year. The fluctuations of the English Funds during the week have been generally

downward; a decline of nearly 1 per cent from our last potations having at one time occurred. A purchase to the extent of 100,000/. by the Chancery-broker gave-an upward impulse of nearly 6 per cent to prices; and they have since been main- tained nearly at that improvement. The premium of Exchequer Bills has given way; the quotation of today being 36s. to 38s. As, however, it is probable that upon any decline a portion of the Railway deposits would be invested in thia, security, there is little probability of any extensive fall. Bank Stock has ad- vanced to 210; attributed to the prospect of increased profits for the establishment.. by the present increase in the value of money. A bargain has occurred today in New Five per Cents at 122: transactions in this Stock are of so rare occurrence that they deserve to be chronicled.

The change in the Spanish Ministry has not caused any very material varia- tion in the prices of Spanish Stock; which was depressed, but has today more- than recovered the lost ground: the quotations of this afternoon being a little in advance of those of last week. The other transactions in the Foreign Bonds havw been unimportant: the tendency of prices has been downwards, in consequence of the heaviness of the English Funds. and general pressure for money. The report of the Committee in favour of the narrow gaugesystem had at first an injurious effect upon the shares of the Great Western Railway; the price of which fell from 156 to 145 in the course of yesterday: today the market has im- proved to 153. The report of the Select Committee upon Railways has had but little effect upon the Scrip of the new Shares; all varieties of which continue de- pressed and in indifferent demand. The prices of Railway Shares are generally lower; some of the heavier description having given way, in consequence of the demand for money and general stagnation of business. The few transactions in the French Shares have been at improved prices; and. there is evidently a better feeliog in" the French market; all the shares of the heavier lines having there advanced: but this improvement has not induced any revival of speculation or investment with us.

SATURDAY, TWILVR o'croox.

The transactions both in English and Foreign Funds have been unimportant; and prices are the same as yesterday, the appearance of the market being heavy. The Railway business has as yet been confined to the following: Bristol and Exeter (New Shares), Ili; Direct Manchester (Remington's), 11) i; Ditto, (Ran.. trick's), 3; Direct Northern, 26; Eastern Counties, York Extension, 16; Hull and Selby, 1066 7; Brighton, 65*; North British, 276; Luxemburg, 26. SATURDAY, Two &ewer.

The English Funds were depressed for a short period; and Consols for Money were as low as 956. A purchase of Exchequer Bills by the Chancery-broker has given firmness to the market, and the closing prices are the same as in the morn- ing; the last quotation cf Consols for Money and Account being 96. Exchequer Bills have been as high as 39 premium, but are last marked at 36. No material change has occurred in Railsvay Shares; indeed the business of the day has been unimportant. The following bargains occurred in addition to those given in the morning: Bristol and Exeter, 86; Ilrist.4 and Exeter, (New,) 11 ; Direct Manchester, Remington's,) a a; Direct Manchester, (Rastrick's,) ai Eastern Counties, 16; Eastern Counties, (New,) 66; Great Western, 15 • Great Western, Half-shares, 86; Great Western, Fiftheshares, 33*; London and Birmingham, 2212; London and Brighton, 65* *; London and Brighton, Cour, solidated Eighths, 55; London and South-western, 78*; Midland,150: Boulogne and Amiens,. 111; Bordeaux, Toulouse, and Cette, (Mackenzie's,) 2; Dutch- Rhenish, 61; Great Northern of France, (Constitutied,) 156; Luxembourg, 24; Paris and Rouen, 406; Ronan and- Havre, 30; Sambre and Meuse, 56; West Flanders, 44 3 per Cent Consols ..... Nt

Ditto for Account 3 per Cent Reduced

3/ per Cents :861 1

Long Annuities Bank Stock 209 10 Exchequer Bills Prem. 36 39 India Stock 259

Brazilian b per Cents 82 4

Belgian 41 per Cents 97 9

Clatnan 6 per Cents 98 100

Columbian ex Venezuela . • 17 18 Danish 3 per Cents 559 Dutch 21 per Cents 591 60

Ditto 4 per Cents 941 51

Mexican 5 per Cents 304 11 Ditto Deferred 164 Portuguese New 5 p. Cts. 1841 58 60 Ditto 4 per Cents 1845 Prem. 58 60 Russian 5 per Cents . ex div III 113 Spanish (Active) 5 per Cents 271 8

Ditto 3 per Cents 1842 374