MONEY MARKET.
STOCK EXCFIANGE. FRIDAY AFTERNOON.
It will be seen by the report of the proceedings of the House of Commons on Monday evening, that in reply to a question by Mr. HUME as to the object of the recent sales of Savings Bank Stock, the Chancellor of the Exchequer stated that the proceeds were applied to the Government service, and that it was his intention to replace it by funding the amount of stock which it might be necessary thus to use. Our readers will remember that last week we stated the probability of such a course being adopted, which indeed might have been easily surmised from the nature of the operations. In consequence of the statement above alluded to, the Funds declined; and Consols for Money were done at 88, while for Account the price has been as low as 884; which were the quotations at the close of business on Thursday. The arrival yesterday of the Patrick Henry, with the inaugural address of General HARRISON and other intelligence from New York, the general complexion of which affords ground to hope that the differences between the two countries will be amicably ad- justed, produced, however, a complete change in the market, and the opening price of Consols for Account was 884 4; the quotations gave way a little in the course of the day, on the occasion of a sale of Stock by the Government broker, but rallied again speedily, and at four o'clock the price was 884 4 for Money and 88-6 89 for Account. This morning the market opened firmly, at the closing price of yesterday: the quotation for Money has in the course of the day been as high as 88k; and after alternating from buyers to sellers at 881 for Account, the closing price may be quoted as 881 9, in fact, the same as yesterday. The premium upon Exchequer Bills, which had been as low as 4s., has improved, and is at 58. to 7s.. Bank Stock has been done at 169 and 170, and India Stock at 249; both quotations being for Account. The money-market at New York was in the same state when the last ad- vices came away as at the period of the sailing of the Columba; the week that had elapsed between the two events not having witnessed any improve- ment either in the price of Stock or Bank Shares. The gloom was much in- creased from the prevalence of a belief that the bills drawn upon the London agents of the United States Bank would be refused acceptance, and that the facilities for raising money upon American Securities here would be curtailed, if not destroyed: the bills have, however, been all accepted, and there is an evident desire on the part of our capitalists to invest in American Stocks at the present low prices. We may therefore infer that when the facts become known in the States, a considerable improvement in the money-market will occur. United States Bank Shares were done yesterday at 5/. 15s., and there are today buyers of them at 5/. 10s. The Bank Deben- tures have been offered at 86; but have improvedtoday, in consequence of a rise of 5 per cent, having occurred in them at Amsterdam, where from 85 they bad improved to 904: there are buyers of them here today at 90. We understand that it has been arranged with the principal holders of Debentures becoming due at Messrs. DENNISON and Co.'s on the 15th April next, that in consideration of the payment of a half-year's interest and 10 per cent, upon the amount of the capital, in all 13 per cent., they shall forbear to press for the payment of the Debentures at maturity, and allow the remaining 90 per cent, to remain over until some better arrangement can be made. A bargain has occurred in Indiana Sterling Five per Cent. Bonds at 65. There have been hut few transactions in the Northern European Stocks; which are firmer, on account of the improvement of the English Funds. The South American and Mexican Stocks, which had previously been heavy, im- proved in some instances more than 1 per cent. in the course of yesterefay. Mexican, which had been 284, having been quoted at 304; and Colombian advancing from 218 to 224. Buenos Ayres and Peruvian, which have been neglected, are again in demand, and the former was done at 23. Prices are not quite so high today, but the several Stocks are in demand at slightly re- duced quotations. More business than usual has been transacted in the Portuguese Bonds ; which have improved nearly 2 per cent., in consequence of a purchase of an influential character' the Five per Cents, having been done today at 324, 'and the Three per Cents. at 194. The Bonds of the Old Loan of 1824, which were previously at 60, have since been done at 62. Spanish Active Stock, which was previously at 22-8 23, improved yesterday, in consequence of some considerable purchases by an influential broker, to 238; and though the extreme quotation has not been supported to- day, the market has been firm, and closes at 234 8, Various reports are car- rent as to the cause of this improvement, which is remarkable as occurring in the face of a decline in the markets of Madrid and Paris; but we believe that the n oat probable is, that M. GONZALES is engaged in the negotiation of a coin- mercial treaty, which would, if accompanied by a hypothecation of the duties received by the Spanish Customhouses to the payment of the dividends upon the Active Bonds, be a favourable circumstance for the stockholder. It is also reported that our Government are in negotiation for the purchase of the Phillipiue Islands, and that when the transaction is completed, the amount agreed upon is to be applied to the reduction of the Active Debt. We are not, however, inclined to put much faith in the last report The Railway Shares are more in demand, and some of the unfinished lines have improved more than 1/. per Share : business has not, however, been extensive, and has principally been confined to the Brighton and Blackwall Shares.
SATURDAY. TWF.T.YE O'CLOCK.
There have been but few bargains this morning, and none of importance. The English Funds are generally at the quotations of yesterday : the market has been firm during the morning, hut is rather heavy at present, although the prices are nominally the same. The premium upon Exchequer Bills is un- changed, viz. 5s. 7s. prem. The Foreign Funds are all at yesterday's prices, with little doing, a few transactions in South American and Mexican Bonds being all that we have to report. The Railway Shares generally are at yester- day's prices, without any business occurring.
3 per Cent. Consul, 881 Itelvrin Slier Cents 100 1 Ditto for Account gdi 9 Columbian 6 per Cents 224 3 per Ceut. Redueed shut Danish 3 per Cents 744 Si 34 per Cent. Ditto shut Dutch 24 per Cents. 504 I New 34 per Cents
974 4
Mexican 5 per Cents. Coned. 304 Bank Stock shut Portuguese Itegeucy b per Cts. 324 4 Exchequer Bills
5 7 pm.
Ditto 3 per Cents 194 4 India Stock for Account shut Russian 5 per Cents 1104 III Brazilian 5 per Cents 71 2 Spanish (Active) 231 1 SATURDAY. FOUR O'CLOCK.
There has not been much doing during the afternoon, but towards the close of business the market became firmer, and Consols for Account closed at 89 kit. The non-arrival of the President has not caused much disappointment, as she is known to be a slow boat, and was not generally expected till Monday. It is now considered pretty certain that we shall on Monday have late intelligence from the United States, and it is to the belief that it will be of a favourable character that the afternoon's improvement is attributed. There have been some consi- derable transactions in Portuguese Bonds, which close firmly at advanced prices ; the Five per Cents. at 33, and the Three per Cents. at 20. During the last few days, a capitalist who is reputed the largest holder has bought extensively ; and It is understood that a communication of a very favourable nature will be made to the bondholders at the meeting convened for next week. The other Foreign Funds close at the morning's prices. The Railway Shares are firmer, and have in some instances advanced from 10s. to IL per Share.
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