21 JANUARY 1860, Page 8

MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The manifesto of the Emperor caused the greatest satisfaction here, and created considerable firmness in the various Stock Markets throughout ; there was, however, little change in English Securities, the only improve- ment being that of 1 on Tuesday.. The supply of stock and the continual demand for money for continental purposes has had a greater influence upon the Money Market than the Emperor's letter, important as it is. There has been likewise a strong impression, amounting almost to a certainty, that the Bank Directors were about to make some alteration in the rate of dis-

count. That change was made yesterday at the weekly sitting of the court : from 21 per cent, at which the rate had stood since the 14th July last, the minimum was raised to 3 per cent. The measure having been an- ticipated created Attie effect when announced ; Consols only declined 1-16th at the time. Today greater heaviness prevails, arid the market assumes a tendency to lower quotations, the final price in Consols being 95 95/ only. It happens, however, that there is really very little legitimate business doing, and, with the exception of a few transactions today, the chief opera- tions have been mainly of a speculative character, and at the present low prices it does not seem probable that bond fide stock will be pressed on the Market. Looking at the present aspect of the commercial as well as political world, there is more cause for the spread of confidence than alarm for the future. Consols during the week have declined about 1 per cent. The Markets are very heavy at the close. New Three per Cents, 951 1 ; India Stock, 104 1041; India Debentures (1859 and 1858), 981 981; Bank Stock, 228 230.

The Foreign Market has been quiet, with few alterations worthy of no- tice. Mexican Bonds, 22 221, have fallen per cent ; Russian, 109 110; Sardinian, 85 86; Victor Emmanuel, 92 93; Portuguese, 44 45; Spanish, 44 45. There has been a good deal of fluctuation in Turkish Stocks, ulti- mately leaving off 781 79 for the Old, and 66 661 for the New. Purchases in anticipation of those for the Sinking Fund have had the effect of ad- vancing the value of Peruvian Stocks, the Four-and-a-half per Cents closing 95 96 ; Ditto Three per Cents' 71 72; Ditto Uribarren, 81 82; Ditto the Dollar Bonds, 81 82; Venezuela, 26f 27; Buenos Ayres, $4 85 ex div. ; Ditto Three per Cents, 22 23; Grenada, 161 171; Ditto Deferred, 41 5; Brazil, 94 941. At the beginning of the week the Railway Market gave signs of great firmness, a rise on Monday having occurred of from f to 1 per cent ; this steadiness, however, was not long sustained, for prices have been drooping ever since; the Consol Market being the principal cause. Caledonian Stock leaves off 94 941; Great Northern 1071 1081; South Eastern and. Dover, 841. 84k; Great Western, 681 681 ; Oxford, Worcester and Wolverhampton, 351 351 ; North Stafford, 4 31, dis. ; London and North- Western, 98 981 •' London and South-Western, 97 97k; Lancashire and Yorkshire, 101101f ; Manchester, Sheffield, and Lincoln- shire, 381 391; London and Brighton. 115 116. The Account of Tuesday passill off without difficulty. There is no extraordinary feature in French Shares, but the Market is dull—Luxembourg, 61 71; Sambre and Meuse, 61 61; Northern of France, 361 37; Paris and Lyons, 361 36t; Lombardo- Venetian, 21 21. Indians although showing firmness in consequence of being quoted ex dividend have not advanced, in consequence of the Bank having raised the rate of discount. Turkey Bank Scrip is better 1 die, to 1 prem. The shares of the Ocean Marine Company have advanced to 21 21. The New Canada Loan has been done at 4 prem., but is finally 31 31; Universal Marble Shares have likewise improved to 1 1 prem.