MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The English Stock Market has undergone a decided change during the whole week : the sellers have predominated, and the result of their operations

has been to produce a decline of nearly per cent. The support so long afforded to prices by the operations of the Government-broker, whose purchases for the Savings Banks have for some time been almost continuous, has during the lest few days been withdrawn by the entire cessation of those purchases: and this circumstance, in conjunction with the selling operations already no- ticed, has caused the depression just referred to. The price of Consols for Money fell on Tuesday to 96i, and the quotation for account to 96g. The market rallied again, and has since been at 961 for Money, and 96i for Account; but fell again this morning, and after being at 94 for Money and 96i for Account, at the close of business there are buyers at both those prices. The Three-and-a-half per Cent Stocks have improved in spite of the decline of the others; both Reduced and New Three-and-a-half per Cents being higher today than last week. It would appear that the rise is occasioned by the pre- valence of a belief that the reduction of these Funds will be effected in a man- ner very advantageous to the holders, viz, that the interest will be re- duced to 3-4. per cent, continue at that rate for seven years, and then be re- duced to 3 per cent. If this course be adopted, the Government will follow the precedent of the year 1750, when the Four per Cents then in existence were reduced and bore an interest of 3ir per cent, till the 25th December 1757, after which period it was reduced to 3 per cent. The effect of the measure upon the price of the Funds was very extraordinary ; for in June 1752 the Three per Cents were at 104, and the Three-and-a-half per Cents at 107i. The pre- mium upon Exchequer Bills remains the same. Both Bank and India Stock have declined nearly 2 per cent.

In the Foreign Market, the dealings have been chiefly confined to Spanish Stock; which has experienced a decline of nearly 3 per cent from the closing quotations of last week. The price went down rapidly on Monday and Tues- day, and the Three per Cents fell to 32i, while the Active Stock declined to 221 : a rally of more than 1 per cent has since occurred, but the market has broken away, after being again at 32*, and 24 today, which may be considered as the closing prices. The cause of this depression is to be found in the recent change of Ministry, and the uncertainty in which the prospects of the credi- tors of Spain are for the moment involved. The more sanguine speculators, however, seem to think that as long as ESPARTERO continues Regent, the question of who may or may not be Minister is of minor importance. Portuguese Bonds have advanced about h. per cent, notwithstanding the delay in the arrangement of the Tariff question; the price having been entirely supported by the purchases made on Dutch account, which have absorbed nearly all the floating Stock at market. A communication was received re- cently by the Committee of the North and South American Bondholders, from Messrs. LIZARDI and Co:, the agents of the Mexican Government, containing a proposal to pay one-third of the dividend which became due on the 1st in- stant, (and is now unpaid,) in cash, and to cancel the remaining two-thirds by the delivery of Five per Cent Stock at par. The causes of the non-payment of the dividend in due course are stated to be the deficiency in the re- ceipt of customs and other duties at Vera Cruz and Tampico, in conse- quence of the alteration of the Tariff ; the falling-off during the year 1842 having been nearly 2,000,000 dollars ; thus depriving the Bondholders of 400,000 dollars, being the fifth of the customs-duties specially set apart for the payment of the dividends, and materially crippling the financial resources of the Government. If this plan for the liquidation of the dividends should be adopted, it will lead to the immediate issue of about 80,000/. new Stock ; which can hardly produce a favourable effect upon the value of the security. The price has, however, been well supported, the market not having given way more than h per cent: indeed, the speculators for the fall have long since dis- counted any bad news that may be received. The bona ,fide holders of the Stock do not appear at all inclined to sell, and seem to think that the present is only a temporary difficulty to be overcome by time and patience. The trans- actions in the other Foreign Bonds have been unimportant : indeed, with the exception of those in Spanish Stock, the business of the Stock Exchange has partaken of the holyday character of the season, and been but trifling. There has been nothing in the transactions of the Share-market to elicit re- mark. The Shares of the Paris and Lyons Railway are still quoted at 04 to premium ; those of the Paris and Lille have not yet made their appearance in the market.

SATURDAY, TWELVE O'CLOCK,

The English Government Securities are without change. Bank Stock is heavy and offered at 183.

The business of the Foreign Market has been chiefly confined to Spanish Stock, of which the Three per Cents have declined about 4 per cent from yes- terday's prices ; a broker who bought largely during the last week having sold as extensively this morning. The price has been as low as 31A, and is now 31* I. Active Stock is firm, and has been all the morning at 22h a : the other Foreign Funds are without material variation. The business of the Share-market has been confined to the following bargains. Imperial Brazilian Mining, 7. Railways—Eastern Counties, 104; Ditto, Debentures, 12; Edinburgh and Glasgow, 49*; Great Western, 92h ; Ditto, New, 67; Brighton, 35; South-western, 65; Midland Counties, 64h ; Northern and Eastern Quarter Shares, 3; Paris and Rouen, 27; South-eastern and Dover, Scrip, 25a.

3 per Cent Consols "GI 4

Chilian Deferred 31 3 Ditto for Account 961 2 Colombian 6 per Cents, l824

241 54

3 per Cent Reduced 951 i Danish 3 per Cents 85 6 3/ per Cent Ditto. 1011 Dutch 21 per Cents 561 .1.

New 3/ per Cents 1021 i Ditto 5 per Cents .......... 1051 1 Bank Stock for Account 183 Mexican 5 per Cents Consd . 29/ 30 Exchequer Bills prem 65 9 Portuguese New 5 p. Cts.184 l

401 4

India Stock 268 270 Russian 5 per Cents .... .. . 114 15 Brazilian 5 per Cents

75 6

Spanish (Active) 5 per Cents.

221 1

Belgian 5 per Cents 1040 51 Ditto Spec Cents 1842 311 2 Chilian 6 per Cents ....

91 93

SATURDAY, FOUR O'CLOCK.

The English Funds close at the morning's prices. In the Foreign Market, Spanish Three per Cents, after being at 32a, have fallen back to 31*, and close at 31* 32; the Active close at 22* h. The decline is attributed to the preva- lence of a report that M. SANCHO has determined not to obey the summons of the Regent and return to Madrid to take the head of the Government, and that consequently the formation of a Ministry will be delayed for some time. Portuguese Bonds are about * per cent lower than in the morning. Mexican are rather firmer, and have been done at 30. The others are the same.

We have to report the following transactions in Railway Shares, in addition to those noticed in the morning—Bristol and Exeter, 59; Eastern Counties, 10*; Edinburgh and Glasgow, 50; Great North of England, 92h 1 2; Great 'Western, New, 67a 6*; Paris and Rouen, 26a ; Hull and Selby, 38*; Man- chester and Leeds, 81 h ; South-eastern and Dover, 25a a ; Ditto, Scrip, 25*.