23 OCTOBER 1841, Page 9



The Money-market was very heavy at the beginning of the week ; and on Tuesday Consuls for Money were as low as 87i, while fur Account the price was 871. The arrival of the American intelligence on 'Wednesday morning, however, caused an advance in prices ; and Consols for Money have since been done at 88, while for Account the price has been as high as 881, thus showing an advance of I per cent. The pressure fur money, which has been very great today, (when 4 to 5 per cent, was freely given for loans upon the security' of English Stock,) has again caused a depresaion, and our quotations of Consols have been per cent, below the opening prices. The other English Stocks have been similarly affected, with exception of the New Three-and-a-half ptr Cents., which, in consequence of its scarcity, has supported the quotations of yesterday in the face of the depression just noticed. The demand for New Three .and- a-half per Cents. has not been the result of any large operations, but of the continued investment of the public in it, the comparatively low price having. of late rendered it a favourite investment with the minor class of capitalists. It is now so scarce that the jobbers find great difficulty in supplying the de- mand. It is therefore much more easy to purchase stock for a future day than, for immediate delivery. The scarcity of money to which we have above re- ferred is more likely to increase than to diminish, as a payment of 000,0001. will be due upon the French Loan on the 28th instant, the greater part of which will be supplied from this country ; and on the 8th November the second in- stalment upon the recent funding will become due, amounting to 1,000,000/. It is not likely that the Bank of England will increase its circulation, as the continued monthly instalments upon the French Loan will act as a drain upon the amount of bullion in store ; and if this adverse circumstance did not exist, it would appear by the returns that the period of autumn and winter has always been one of decreasing amount of bullion: in 1832, the bullion, which in July amounted to 3,785,000/., had fallen in October to 2,525,000/.; in November of that year it was 2,545,0001.; front which period it increased till August 1840, when the maximum of the year was 4,560,0001. A decline then commenced, mg continued till December, when it bad fallen to 3,511,000/.; from which it was steadily increased till July 1841, when it had reached 5,170,000/., the highest amount yet recorded during this year : it has since gradually fallen, till on the 12th instant the amount was 4,713,000/. Bank Stock has been at 1631, and is today quoted at 1621. India Stock has been done at 243, and is today at 2431. Exchequer Bills are the same, viz. 10s. to 12s. premium. In the Foreign Market, the improvement in the English Funds has given firmness to Dutch Two-and-half and Five per Cents.; the former of which have been at 51' 1 and the latter at 991, both being an advance of about 1 per cent. Brazilian have been depressed to 49, but are today better, and done at 511. The other South American are lower ; so are Mexican, in which the news of the revolt of the province of Yucatan has produced a fall of nearly 1 per cent.: there has been, however, but little doing in any of them. The transac- tions in Portuguese Bonds have also been very limited, and mostly at prices but slightly varying from those of last week. Spanish Active has been the subject of much fluctuation, and in the course of Tuesday had fallen 1 per cent, from the closing prices of last week, and was quoted at 191. On Wednesday, some large speculative purchases were made by parties who are believed to have re- ceived early intelligence of the disclaimer by the ex-Queen CHRISTI:IA of all SATTIRDAY, TWELVE o'cr.oez.

There bas been but little business doing this morning, and the prices of the English Funds are the same as at the close of business 3 esterday, Consols for Money being 87/ 1,4 and for Account 884 4. Exchequer Bills 10s. to 12s. prem.: these were the opening quotations, and up to this moment the market

has been unchanged. speculators in Spanish Stock have been completely puzzled by the contradictory nature of the intelligence ; which can only be accounted for by supposing some gross blunder or fraud in the management of the French telegraph. The prevailing opinion appears to be, that the insur- rection is Stan end, and consequently the improved price of Spanish Stock has been supported. Active opened at 204, has since been 204, and is now 204 I. The other Foreign Funds are at yesterday's prices; as are the Railway Shares.

SATURDAY. Foes o'CLoca.

The English Funds have continued in a tranquil state, and prices have been nearly stationary up to the close of business. Consols for Money, 874; ditto for the Account, 854; Three per Cents. Reduced, 864 7; Three-and-a-half per Cents., 964 4; New Three-and-a-half per Cents., 973 4. Exchequer Bills, Ils. to 12s. In Foreign Stocks, the only alteration is in Spanish, which has advanced to 204 3. Portuguese Five per Cents., 29 to ; ditto Three per Cents., 174 18. Colombian, 183 19. Mexican, 234 4. Dutch Five per Cents., 99 to +; ditto Two-and-a-half per Cents., 514 4. Belgian, 1024 3A. In Shares there has been nothing doing. A great sensation has been produced in the Stock Exchange today, by the supposed discovery that certain Exchequer Bills, at present in circulation, have either been forged or issued in an irregular manner. It appears that for some time past several of the capitalists of the Money-market have been in the habit of advancing money by way of loan upon the security of Exchequer Bills, at very high rates of interest. This circum- stance was first noticed in the Times a few days ago ; and as a suspicion was thus thrown ueon the transaction, some of the lenders were induced to inquire at the Exchequer as to the validity of the bills in question. Some of the holders took up the bills themselves ; which upon exhibition were declared genuine. The nut:liters only of three thousand bills were sent up; and it was declared at the Exchequer, that if the numbers were correct the bills in ques- tion were either forgeries or were surreptitiously issued. It has since been stated that all the bills are correct. The subject has occupied the attention of the community during nearly the whole day. knowledge of and interference with the insurrection of O'Dorszszia. : the price consequently improved to 20/, and has since given way to 194; to rally, how- ever, in the course of the afternoon to 20/, in consequence of extensive pur- chases by the same parties who were the operators on Wednesday. It is understood that the purchases of this afternoon have been made in consequence of the Government of LOUIS PHILIPPE having either put forth or being about to publish a disclaimer similar to the one already made by the ex-Queen.

There is no material variation in the prices of Railway Shares. The Bir- mingham, Great Western, and South-western are from 10s. to 1/. higher than last week. It is understood that Professor BARLOW, who has been employed by the Government to report upon the condition of the Brighton Railway, has expressed himself very favourably as to the present condition of the line ; and to this circumstance, we believe, may be attributed the improvement in the Shares, which have risen from 13 discount to 12 discount, but have again de- clined, and are today 12/ discount.

3 per Cent. Consols

Ditto for Account 3 per Cent. Reduced 871 4 881 e 861 I Columbian 6 per Cents Danish 3 per Ceuta Dutch 24 per Cents 181 9

73 9 51e e

34 per Cent. Ditto., 961 Mexican 5 per Cents. Cousil. 234 4 New 3t ner Cents 974 4 Portuguese Regency 5 per Cts. 29t Bank Stock

Ditto New 5 per Cents. 1841.. 25 'Exchequer Bills ... 10 12 pro. Ditto 3 per Cents 174 18 India Stock

Russian 5 per Cents 112 113 Brazilian 5 per Cents 50 52

Spanish (Active)

204 4 Belgian Spec Cents 102 3