MONEY MARKET. STOCK EXCHANGE, FRIDAY ITERNOON.
It is now generally understood that the purchases on account of the Savings Banks, which have been so long continued, will cease for the present ; and this circumstance has increased the tendency to decline which has lately existed in the Public Securities. During the last few days, the pressure of Stock upon the market has continued, occasioned by the simultaneous occurrence of several sales. The fluctuation has not, however, exceeded 1 per cent, and the prices of today are about the average of those of the week; being nearly equi-distant between the highest and lowest. On one or two occasions the demand for Money has been such as to insure an interest to the lenders of 4 per cent ; bat the superabundant stock having entirely disappeared, Money is today plen- tiful, and Stock scarce ; without, however, any permanent improvement in prices. The premium of Exchequer Bills has fallen, on the whole, about Si.; the price having declined to 54s.
Among other causes now operating against any advance in the prices of the Public Securities, may be cited the withdrawal of the Emperor of Russia from the Conference of London, and the determination he thus evinces of taking an independent course upon the Greek question. Another will also be found in the prevalence of a belief that the anticipations of a surplus revenue, and con- sequent resumption of the purchases on account of the Sinking-fund at the commencement of the next year, will not be realized. It is now understood, that the expenses of fortifying and provisioning the barracks in Ireland, with the transport of troops to that country, have entirely absorbed the sum which, under more favourable circumstances, would have been available for the public service.
The business of the Foreign Funds has been various and extensive. Some large transactions have occurred in Spanish Stock, at improved rates. A general belief appears to prevail, that both the English and French Govern- ments are acting in concord for the pacification of the Peninsula; and it is believed that a commercial treaty is in progress. The reported abdication of Don CARLOS also gains credit, and hence there has arisen a demand for the stock,' prices being at one period 1 per cent in advance of our last. Some sales have, however, since occurred ; and these operations, in conjunction with the intelligence received this morning of the prolonged resistance of Barcelona, have caused a reaction, though our closing quotations are still slightly in ad- vance. Some sales of Portuguese Bonds have occurred at quotations about I per cent below the highest price of last week. Those sales are understood to have originated in some delay on the part of our Foreign Minister in agreeing to the promised tariff, which it is now said the Portuguese Government are anxious to conclude. The South American Stocks are without any material variation' but, with the exception of the Chiliau Bonds, are slightly lower. Mexican Securities are nearly at our last prices, but heavy at current quota- tions. The Northern European Continental Stocks have experienced a slight decline, in consequence of the depression of the English Funds ; but the business transacted has not been important. The demand for Railway Shares still continues ; the most remarkable im- provement having occurred in those of the York and North Midland, which have risen 16/. per Share since Monday. These Shares have today been as high as 1311.; and as the amount paid on them is only 50/. each, the premium per share is equal to 162/. per cent. The French Railways are also much sought after ; the one most in request being the Paris and Orleans, which has recently risen about 4/. per share, though the price has since given way about 1/. from the highest quotation.
The Shares of the Australian Banks are heavy ; and we have to notice a
transaction in those of the Bank of Australasia at 413I. per share, or about 8/. premium. This price is 3/. or 4/. below very recent quotations. A bargain has also occurred today in the Shares of the United States Bank, 1,000 of which have been sold at 188. per share. It will give some idea of the loss sus- tained by the holders of this security, when we state that the Shares sold today for 900/. originally cost the holder 22,000/. The only market for these com- modities is in Holland, where they have long been current at from 158. to 25s. 6d. per share ! SATURDAY, TWILVE O'CLOCK.
There is not any change or business of importance occurring either in the English or Foreign Funds. The transactions in the Railway Shares have as yet been confined to the following-Bristol and Exeter, 65; Edinburgh and Glasgow, 55; Great North of England, 85; Ditto, Quarter Shares, 661; Bir- mingham, New Thirds, 354 ; Midland Counties, 82; Newcastle and Darling- ton Junction, 24; Paris and Orleans, 29/. It will be seen that Paris and Or- leans have not advanced, although these Shares have risen 25 francs in Paris. The French price is now, however, about 10s. per share above our own quota- tion.
SATURDAY. TWO cht.00E.
The English Funds at one period evinced symptoms of improvement, and Consols for Money were quoted at 961. The market has, however, since given way again, and closes at the morning's quotations. In the Foreign Market prices are nearly the same, and the business transacted has not been Important. The following transactions have occurred in the Railway Shares in addition to those in the morning : Birmingham and Derby, Thirds, 17; Bristol and Exeter, 63 4; Great North of England, 851 ; Great Western, 911; Ditto, Half Shares, 661; Hull and Selby, 50 49; 1; Brighton, 39h 9a; Ditto, Loan Notes, 101; Birmingham, 217 ; Ditto, New Quarter Shares, 231 ; Croydon, 141 1 ; Northern and Eastern, Scrip, 191; Paris and Orleans, 291 a; South- eastern and Dover, 291 301 291; Ditto, Scrip, 301 1 ; York and North Mid- land, 1281. We have also to notice a bargain in the Shares of the Union Bank of Australia at 29; and one in those of the Mexican and South American Company, at 41.
The usual monthly averaze of the circulation of the United Kingdom for the four weeks ending the 11th instant exhibits an increase of 1,705,568/. in the gross circulation, as compared with the return of the last month. There is • decrease of 61,000/. in the amount of bullion in the Bank of England ; which. is remarkable as being the first indication of a decline in the amount for nearly four years.
3 per Cent. Consols
951 6 Chilies Deferred 46 8
Ditto for Account
951 6 Columbian 6 per Ceats 1824
3 per Cent Reduced
951 g ex Venezuela
3g per Cent Ditto
Danish 3 per Ceats
85g 6 New 31 per Cents
1021 3 Dutch 24 per Gents 54g 1 Bask Stock
Ditto Spec Cents
Exchequer Bills prem. 53 5 Mexican 5 per Cents 30 g India Stock
Portuguese New 5p Cts.1841 43g g Brazilian 5 per Cents
74 6 Russian 5 per Ceuta 115 16
Belgian 5 per Cents 103 4
Spanish (Active) 5 per Cents 21g /
Chiliau 6 per Cents
Ditto 3 per Cents 1842 311 i