STOCK EXCHANOE. FRIDILT AFTERNOON.
The Money Market has been in a more active state during the last few days; and the prices of all the English Funds have advanced about j per cent.; Re-
duced Three per Cents. for Money and Consols for Account improvement has at 894. while Reduced Three- and-a-half per Cents. have reached 984. This
Las not been occasioned by any large operation, but by thc continued occur- rence of unimportant investments : there has not been much fluctuation, the improvement having been almost continuous, and the reactions quite unim- portant. A bargain has occurred today in Consols for Money at 904 with dividend. Some remarks have been made upon the large difference between the pricy„of Consols for Money and that for Account. When the bargain above referred to was concluded to-day, the buying-price of Consols for Account was 894, equal with dividend to 91; while the buying-price of the same description of Stock for Money was 904; thus marking an apparent difference of 4 per cent. But it must be remembered that the buyer of the Stock will not be able to transfer it till the 6th July, the first transfer-day ; as, though the Bank Directors will permit a special transfer of stock to be made during the period of the shutting, by a proprietor in whose name the stock was standing at the closing of the books, they would refuse such an accommo- dation to one who had purchased the stock after the period of the shutting. The account as to profit and loss upon the transaction will therefore stand thus- 1,000 Consols sold for Account, 16th July, at 89k ex div..
equal with dividend to 91 46910 0 0
1,000 Consols bought with dividend at 904. £905 0 0 Add interest at 5 per cent. from 25th June to 16th July,
21 days 2 12 1 907 12 1
Prat £2 711 Leaving a profit of about 4 per cent. to the jobber who was the buyer of the Stock for Money and seller of the Stock for Account. This is a larger rate of profit than is ordinarily afforded by transactions at the Stock Exchange; but is not exorbitant when it is considered that the capital of the buyer is locked up for three weeks. The premium upon Exchequer Bills, which has been steady at 6s. to 8s.' has today improved Is., and is is. to 9s. Bank Stock is steady at 1684 and 169. In the Foreign Market, the rise in the English Funds has produced a trifling improvement in some of the Northern European Stocks. The advance in the Russian Five per Cents, has been the most marked ; these Bonds having today been done at 1144. The other Foreign Stocks are without material variation or business of importance. The Mexican and South American are rather firmer. A slight impulse has been given to Spanish Active, and the quotation has reached 224: the market has not, however, been sustained, but has given way again today to 224. The last advices received from the United States were of a favourable character ; the State Stocks and Bank Shares having im- proved, and remittances for the accruing dividends upon many of the State Stocks being at the same time received. There has not, however, been any revival of American business upon our Exchange ; and we cannot quote any transactions either in Stocks or Bank Shares. There are buyers of the latter at 4/.; but holders are not disposed to sell, expecting that if by the next ar- rival the intelligence be as favourable as that brought by the last, a still further improvement will occur. The dividend upon the newly-converted Portuguese Stock will become due on the lot July next ; and has been advertised for payment at the financial agency of the Portuguese Government in London Wall on that day. The agency has also given notice of their willingness to pay one-half of the dividend which at the same time will become due upon the unconverted portion of the Portuguese Debt,—namely, upon the Five per Cents. Regency, Ditto 1837, Three per Cents. and Six per Cents. 1833—upon presentation of the Coupons, which will after payment be stamped as having been paid. and returned to the Bondholders. A statement of the amount of Stock converted up to the 224 instant has also been published, which we subjoin. Amount of Portuguese Bonds converted pursuant to the decree of the 24 November 1840—
Six per Cent. Bonds £7.500 0 0 Fire per Cent. Regency 626,900 0 0 Ditto i837 13700 0 0
Three per Ceut. Ditto 1835 2,136.500 0 0 Debentures 15.532 10 0 Overdue Coupons 301,972 2 6 £3,226,204 12 6 Against the amount of Stock thus cancelled there has been issued the following amount of New Stuck and Certificates, viz. Five per Cent. Stock 1841 £2,349 850 0 0 Provisional Certificates 27,523 16 2 £2,377,376 16 2
The present state of Portuguese Foreign Debt may he taken as follows—
Original Present Amount. Amount.
Regency Five per Cents. (1832 and 1833) £4,600,000 Redeemed by the Sinking fund previously to 1837 £765,000 Converted as above 626,900 Six per Cents. 1833 Converted into Three per Cents. (1835)
Ditto OS above
Three per Cents. 1835 6,000,000 Redeemed 117,400 Converted as above 2.136,500 2,253,900 Five per Cents. 1837 1,0110,000 Converted as above 137,500 Five per Cents. 1836. Knovrn as Goldsmid's Loan ; no part of which has been either converted or redeemed Amount of Old Stock in circulation Add amount of New Stock and Certificates issued in exchange for 3,226,2041. 12s. 52. Old Sfock converted Making the total amount of the Portuguese Debt at this date £11,174,473 16 2 There have been few transactions in these Securities, and prices are the same as last week.
A sudden and rapid improvement has taken place in Brighton Railway Shares. In consequence of a reported delay in the opening of the line, the price had declined; and within this few days was as low as 71. discount per Share. The line will, however, be opened to within fifteen miles of Brighton on the 12th July next; and as soon as it was known yesterday that this would be the case, an improvement in the Shares commenced, which has continued today ; and the price, after being at 4 din., closes at 44 dig., being a rise of 21 per Share from the lowest price.
SATURDAY. TWELVE O'CLOCK.
The business of the morning has been quite unimportant, and up to this hour not a single bargain has occurred in Consols for Account : the price is nominally the same as yeiterday,:viz. 89i a. Reduced Three per Cents. are quoted at 89,i fur Money, and Reduced Three-and-a-half per Cents. at 984, being an advance of a upon yesterday's price of the latter Stock. Exchequer Bills are the same, viz. 7s. to 9s. premium. In the Foreign Market, prices are without variation, and but little business doing. There is some activity in the Brighton Shape-market; which, however, is not quite so firm as yesterday, the price being 4400 44 discount. The usual state- ment of the quarterly average of the liabilities and assets of the Bank of Eng- land has been published. As compared with the last, there is an increase of 17,0004 in the Circulation and of 177,000/. in the amount of Bullion, while the Deposits have decreased by 24,000/., and the Securities by 216,000/. The stock of bullion is higher than it has ever been since May 1839, when it was 5,119,0004. the amount at present being 5,098,000/, and is more than double the average of October and November 1839, when it was as low as 2,525,000/. and 2,545,0001.
No change has occurred in either premium upon Exchequer Bills has, however, quoted at 10s., elbses at 8s. to 10s. premium.
3 per Cent. Cousots abut Dttto for Account 89}I
3 per Cent. Reduced 801 0
3t per Cent. Ditto 980 8
New 31 per Cents shut
Bank Stuck 169 169
Exchequer Bills 7 9 pm. India Stock
Brazilian 5 per Cents. 671 8+
Belgian 5 per Ceuta 100 1
SATURDAY. FOI7R otr.ocec• the Foreign or English Funds. improved; and after having
Columbian 6 per Cents
Danish 3 per Cents
Dutch 24. per Cents
Mexican 5 per Cents. ConsaL Portuguese Regency bper Cts.
Ditto New 5 per Cents. 1841 Ditto Spec Cents Russian 5 per Cents .....
Spanish (Active) The been
770 81 521
33 * 281 191 20 1131 141
1,01.900 900,000 811.800 7,500 819,300 £3,208,100 0 0 80,700 3,746,100 0 0 862,200 0 0 900,000 0 0 8,797,100 0 0 2.377,373 16 2