MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The upward tendency of the English Funds continued during the early part of the week, when the price of Consols reached 96i. During the last few days a downward movement has occurred ; and, after being 1 per cent below the highest quotation, the closing price this afternoon is 96i1 *—the same as that of last Saturday. The decline is chiefly owing to the extensive sales of Stock made by the small capitalists, who have for some time brought Stock to market. The Stock thus sold is taken by the large dealers and influential speculators; who find no difficulty in raising the necessary funds upon the deposit of the Stock either with the Bank of England or private capi- talists, at rates of interest varying from 1 to 2 per cent. Rumour has not yet given currency to the plan proposed by the Government for the intended reduction of the Three per Cent Stock, but the belief that such reduction will be attempted in the course of next year is still very prevalent. Attention is generally directed to the great accumulation of bullion in the Bank of England; the amount now in store being greater than at any former period of the history of that establishment, and within a little more than a million of the amount of the actual bank-note circulation. The possession of such a large amount of profitless capital must be a serious embarrassment to the Directors; and if it should increase much fur- ther, must interfere with the Bank's profits. In the Foreign Market, Mexican Bonds have been the chief objects of attrac- tion, and the price of them had advanced about lj per cent. A decline to the whole extent of the previous rise occurred before the meeting of the Bondholders held yesterday; and the market continues today without animation or business, the closing price being 281, 29*. We should remark, however, that till today the daily operations have been extensive and important Portuguese Bonds are slightly firmer than last week. Spanish Active Bonds have advanced about 1 per cent; and the Three per Cents receded in about the same proportion' in conse- quence of a report that the over-due Coupons of the Active Stock and the whole of the Three per Cent Bonds are to be converted into a Two per Cent Stock. Peruvian, and the other South American Stocks, are firm at nearly our last quotations, with but few transactions. Dutch, and the Northern European Bonds, are without material variation or important business. The few bargains, however, have been at better prices than those of last week. The Share Market is heavy, and prices generally are today rather lower than on Saturday. The approach of the dividend period is evidently operating unfa- tountbly upon this class of security; as though the tolls of the leading lines are nominally in excess when compared with the corresponding period of last year, the increase is not in comparison with the augmented amount of mileage open and preferential and other charges. These being cf the nature of mortgageeom the first charges upon revenue, and must be provided for before any profit can be

divided. ...._

SATURDAY, TWELVE OVLOCF. The opening price of Consols was 96A I, and the market is steady at that quo. tation. The Three-and-a-quarter per Cents are proportionally rather heavier, and several sales were made at the opening of the market. The Foreign Funds ere without material change or business of importance. So are the Railway Shares; the following being the only bargains as yet recorded—Buckinghamshire, 16i; Brighton, 791; North-western, 110i; North Staffordshire, 7i; South-eastern, 19i; York, Newcastle, and Berwick.17.

3 per Cent Consols shut Danish 3 per Cents

72 4

Ditto for Account 961 1 Dutch 24 per Cents

55: el

3 per Cent Reduced 964 4 Ditto 4 per Cents 84 5

84 per Cents

971 1 Mexican 5 per Cents 1846...

281 94

Long Annuities 84 9-16 Peruvian 6 per Cents 51 55 Bank Stock 2024 31 Portuguese 4 per Cents 1842 36 7.; Exchequer Bills 54 57 pm.

Portuguese 5 per Cents 1824.

72 4 India Stock shut Russian 5 per Cents 109 Iii Brazilian 5 per Cents 88 9 Spanish (Active) 5 per Cents 18: 194 Belgian 44 per Cents 87 8 Ditto 3 per Cents 1842 384 ChWan 6 per Cents 98 100 Venezuela 28 30 Danish 5 per Cents 98 100

The accounts of the Bank of England for the week ending the 15th December exhibit, when compired with those of the preceding week, the following results--

BANKING DEPARTMENT. Increase. Decrease.

Rest Public Deposits Other Deposits 42,905 598,737 408,911 — Seven-day and other Bills

24,315 Government Securities, including Dead-weight 11,907

Other Securities 787,103

Notes unissued 122,330 — Actual Circulation 31,235 —

INCE DEPARTMENT.

Notes issued 153,505

Bullion 218,463

This week. Last week.

Total Bullion in both Departments 16,991,261 16,772,798 Actual Circulation 17,952,900 17,921,665