MONEY MARKET.

STOCK EXCHANGE, FRIDAY Al.TERNOON.

The English Funds experienced a decline of about k per cent on Wednesday, in consequence of the sale of 150,0001. Reduced Three per Cents by the broker of the Court of Bankruptcy : the price has since recovered again, and the

market closes at the quotations of last week. The various Stocks whose Di- vidends become due in July, and which are now closed, will all be open for private transfer on Saturday week, the 6th July. The return of the Quarter's Revenue will also appear on that day ; and considerable uncertainty at present exists as to the mode in which the Government will dispose of the large surplus

which is anticipated. From some recent observations of the Chancellor of the Exchequer, it is inferred that be means to render the Government " inde- pendent of the Bank," and apply the surplus revenue of the quarter to pay off those advances which the Bank are accustomed to make up on the growing pro- duce of the revenue, in order to meet the payment of the dividends; that in future it is the intention always to keep a surplus in the Exchequer. If this course be adopted there will not be any sum

applicable to the purposes of the Sinking-fund during the quarter ending 10th October next. But if the old system be continued, it is anticipated that at least 500,000/. will be at the disposal of Government for reduction of the Na- tional Debt during the period in question. The price of Bank Stock has not fluctuated very materially. Money still continues abundant, though a slight demand occurred this afternoon for it in the Foreign Stock Exchange, upon

the occurrence of the settlement of the half-monthly account. The inquiry for advances was, however, chiefly confined to the more worthless and Non-Divi-

dend Foreign Stocks. The rate of exchange upon Paris has declined slightly,

in consequence of a demand for bills, occasioned by necessity of remitting funds to Brussels to provide for the instalments upon the new Belgian Loan, the bidding for which will be taken there tomorrow. Several English lists are formed ; and so great is the competition that it is expected that tenders will 131 given for about four times the amount of the loan proposed. The decline of the exchanges, though now of no moment, will become of importance if conti- nued, as it is a sure forerunner of the diminution of the amount of gold in the Bank.

The business of the Foreign Market has been unimportant. Some fluc- tuation has occurred in Spanish Three per Cents, in consequence of the un- certainty existing as to the payment of the Dividend. That, however, was

set at rest by the appearance of the advertisement announcing its payment in due course. The Stock, which then rose it per cent, has declined to the full

extent of the advance, in consequence of a small but influential sale this morn- ing. Columbian Bonds have advanced nearly 1 per cent ; Mexican are also firmer. The transactions of the Foreign Market have, however, generally been even more unimportant than those in the English Funds.

The business of the Share Market has not been so extensive as usual. Some transactions have occurred in the French Railway Shares; and, after some fluctuation, the result has been to leave prices nearly where they were this

day week. The movements in the English lines have not been of importance ; and prices have not been quite so well supported, especially among the new

and less important varieties. The uncertainty of the proceedings of the French Chambers and Government with respect to the new lines now under formation, has put a complete stop to all speculation and business in them. At a recent meeting of the shareholders of the Union Bank of Australia, the Directors exhibited a statement of the proceedings of the company, by which it

appeared that the loss by bad debts was 55,000/. To provide for which, the Directors proposed to take 40,0001. from the Reserved Fund, and to reduce the Dividend from 8 to 6 per cent. These proposals were cordially assented to by the meeting; and the report presented to it unanimously adopted. It is con- sidered that under the distressing circumstances in which the Australian trade is now placed, the affairs of the Bank have been extremely well managed, and that the loss is much less than might have been expected. The shares, which bad been at 27, fell at first to 254 ; but have since improved to 261.

SATURDAY, TWELVE O'CLOCK.

The business of the morning has been quite trifling, the English Funds being at their yesterday's quotations.

The only variation occurring in the Foreign Market is in Spanish Stock ; both varieties of which, in the absence of any transaction of importance, are k per cent lower.

The business of the Share Market has been confined to the following trans- actions : Birmingham and Gloucester, 93; Ditto, New, 23k; Chester and Holyhead, 4l; Great Western, 123 2 ; Ditto, Fifth-Shares, 22i; Birming- ham, 218 ; Ditto, New Thirds, 354 36 ; Black wall, 7i; South-western, Eighths, 3k; Trent Valley, 8i; York, North Midland, and Scarborough, 19k. SATURDAY, Two &MOM The English Funds close h per cent lower ; some speculative operations in the nature of options having been entered into during the morning, in antici- pation of the intelligence brought by the American mail. The Foreign Bonds are without any material variation. The following bargains have occurred in Shares, in addtion to those given in the morning: Bank of Australasia, 42k 3k 2/1.: Railways—Caledonian, 3i; Chester and Holyhead, 44; Eastern Counties, Perpetual, 5 per cent, No. 1, O prem.; Ditto, No. 2, oa prem.; Edinburgh and Glasgow, 63; Great Western, 1221, ; Brighton, 46k; New- castle and Darlington Junction, 41 ; Yarmouth and Norwich, 231; Paris and Orleans, 38i; Paris and Rouen, 38; Orleans, Tours, and Bordeaux, 151.

3 per Cent Consols Ditto for Account

3 per Cent Redneed shut 68i 11 Rh

Colombian ex Venezuela...

Danish 3 per Cents Dutch 24 per Cents

88 9 1631308441514151411

3} per Cent Ditto

1024 Ditto 6 per Cents

New 31 per Cents

shut Mexican 5 per Cents

Bank Stock

1971 84

Ditto Deferred

15

Exchequer Bills prem. 72 4 Portuguese New 5 ii.CM.1841

461 71

India Stock

284 Russian 5 per Cents

117 18

Brazilian 5 per Cent.

82 3 Spanish (Active) 5 per Cents 221 3

Belgian 5 per Cents

103 5 Ditto 3 per Cents 1842

341

Chilian 6 per Cents

102 4 Venezuela Actii e 40