STOCK EXCHANGE. FRIDAY AFTERNOON.
The proceedings of the week have becn of more than ordinary interest, in consequence of the resumption by the Government Broker of his purchases on account of the Savings Banks. Until today, it has been the custom fur this gentleman almost invariably to make this description of purchases in Three-and-a-half per Cent Stock ; but his investment of this morning was in Reduced Three per Cents; whence it has been inferred, that the Government are desirous of improving the price of Three per Cent Stock, in order to a reduction of the Three.anel-a.half per Cents in the course of next year. An improvement of 1 per cent in the price of the English Funds has consequently occurred ; Consols for Account having been as high as 961 ex dividend, or 97i with dividend—the highest quotation at which they have sfood during the present century. The public attention has been by a recent circumstance attracted to she course adopted by the Bank of England with regard to Stock the Dividends upon which remain unclaimed for ten years. In accordance with the provi- sions of an Act of Parliament, the Stock and Dividends so unclaimed are transferred to the Commissioners for the Reduction of the National Debt, by whom all future claims upon them are paid. It has, however, been the subject of general remark, that large sums are allowed to be thus transferred without any exertion being made on the part of the Government or the Bank to dis- cover the persons who are actually entitled to the property. When an invest- ment is made in the Funds, the Bank require such a description of the pur- chaser as will enable them, if necessary, to communicate with him by post : if this rule were strictly carried out, it would be easy, whenever Dividends have been for any time unclaimed, to forward a communication to the stockholder with the information that some Dividends are due to bins, leaving to him the proof of his identity and the amount and description of Stock upon which the Dividends have become due. As it is, no notice of any kind is taken ex- cept by the publication of the Unclaimed Dividend book; whit h is of rare oc- currence, the last publication having been in 1836, and the one previous to that in 1823. Ins recent case, we find that a lady had neglected to receive the Divi- dends upon 3,500/. Stock for ten years, and that the Stock has been transferred- to the Commissioners without the slightest inquiry as to the existence of the stockholder or her representatives: luckily, the party in question appears to be wealthy, and the loss of an income of upwards of 100/. of no importance ; but we doubt not that many cases occur in which persons in comparatively poor circumstances are, as the representatives of deceased stockholders, interested in unclaimed Stock and Dividends, by the division of which they would be most essentially benefited, but who are left in total ignorance of the existence of such property. There can be little doubt, therefore, that an alteration of the present practice would be of much public benefit. A considerable demand has occurred for silver coin, and the hankers find difficulty in answering the demands of their correspondents. This will doubt- less continue until after the commencement of the New Year ; the public generally being averse to holding gold coin, which if light will be defaced after the 1st of January. The business of the Foreign Market has not been of a very extensive charac- ter. An improvement of more than 4 per cent has occurred in Dutch Two- and-a-half per Cent Bonds, in consequence of the ameliorations proposed in the financial administration of Holland. The conviction (which has now become' certainty) Mt the Dividend of the Spanish Three per Cents will be paid, has supported the price of Spanish Securities, notwithstanding the gloomy charac- ter of the intelligence trom the Peninsula. During the seek, some extensive purchases of Three per Cent Stock have occurred ; and the price was at one period l per cent above the closing price of Saturday : but the market has since given way about per cent, and closes at that depression. The Five per Cents have not risen so much ; but, after rising i per cent, have receded to within 1 per cent of our last quotations. The transactions in the South Ame- rican Bonds, and also in the Mexicans, have been unimportant. A check has been given to the speculation in French Railway Shares; which have experienced but little fluctuation. A large number of shares have been imported from Paris, and the market has given way slightly, under the sales that have consequently been effected ; but as upon every depression the Eng- lish capitalists have been ready buyers, the prices have been tolerably well sup- ported. The retirement of M. TESTE from office is considered fatal to the prospects of the speculators in French Railways. This retirement is under- stood to have been rendered necessary by the determination of the French Government to take upon itself the formation of the several lines of Railway now in agitation ; and as the Minister of the Interior had already commenced the negotiation of contracts for their completion by private enterprise, he had, no course left but retirement. Among our own Railways, we have to no- tice an improvement in Birmiugham to 230; and a slight degree of firmness in the Brighton, South-eastern, and some of the more speculative lines.
SATI/RDAY. TWELVE co'CLOCK.
A purchase of 20,000/. Reduced Three per Cents at 964 has given a tone to- the English Market, which is firm at the closing quotations of yesterday. Among the Foreign Funds, Spanish Stock is depressed ; the delay in the advertisement of the Dividend operating, in conjunction with reports of a dis- turbance at Madrid, to produce a decline: both Three per Cents and Five per Cents are per cent below the closing quotations of yesterday. The other Foreign Bonds are without variation.
The transactions in Railway Shares have been of very general character, as will be seen by the following list of business actually occurring: Eastern Counties, 10a I, Ditto, Scrip, 12*; Ditto, Debentures, Ili a; Edinburgh and Glasgow, 56 1; Birmingham, New Quarter-shares, 27/ 8; Greenwich, 51 ; South-western, 701; Manchester and Leeds, 961; Ditto, Quarter-shares, 7; Newcastle and Darlington Junction, 291 i 1,; North Midland, 881 1 Ditto, Third Shares, 29; Paris and Orleans, 32 li 2 ; Paris and Rouen, 311; South-eastern and Dover, 341; Yarmouth and Norwich, 151; York and Nordh Midland, New Shares, 521: Union Bank of Australia, 28.
3 per Cent Consols
Ditto for Account 3 per Ceut Reduced 3* per Cent Ditto.
New 3} per Cents
shut 96 5 965 5 102i 10.3 4 Citilian Deferred Columbian 6 per Cents,1524 ex Venezuela Danish 3 per Cents
Dutch 2f per Cents
11 1- 86 $7 5:it t
Ditto 5 per Cents .......... 99 4 Exchequer Bills prem. 58 60
Mexican 5 per Cents Coned . 31 i
Poi tuguese New 5 p. Cts.1541
Brazilian 5 1,er Cents
73 4 Russian Spec Cents
Belgian 5 per Cents
Spanish (Active) Spec Cents. 193 i finnan 6 per Cents
Ditto 3 per Cents 1542