29 OCTOBER 1842, Page 10

MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The Funds exhibited a tendency to decline, and were for a day or two de- pressed to the extent of per cent below the closing prices of last week. The depression did not long continue, and the market speedily recovered to the former quotations. The only transactions of importance have been a pur- chase of 100,000/. Reduced Three-and-a-half per Cent by an influential broker, and one of Reduced Three per Cents by the Government broker. The latter operation is stated to have been either on account of the Savings Banks or on that of the East India Company ; being in the latter case the invest- ment of the dividends received upon the amount of Stock set apart to form a Sinking-fund for paying off the present East India Stock. '1 be pre- mium upon Exchequer Bills has improved; both 2id. and 2d. bills being 58s. to 60s. premium. Money is still very abundant, and is easily obtainable upon the security of English Stock upon loan for short periods at 2 per cent per annum; and the same may be quoted as the rate of discount upon first-rate bills.

A house of long standing and great provincial reputation in the corn-trade hes been borne down by the continued depression of foreign wheat The only parties likely to benefit by the speculation are the public, who are now con- suming wheat cheaper than it is produced in the country where it is grown; the prices at which sales were recently effected in Mark Lane being much lower than those at Dantzic.

The principal business in the Foreign Market has been confined to Spanish Active Stock ; for which there appears to have arisen a sudden demand, and which, in consequence of some purchases, has improved 2 per cent during the week ; the quotation of Five per Cents having risen from lfsi to 18*. The Three per Cents have not risen above 1 per cent, the highest point reached having been 22. This improvement is the more remarkable, as it seems to be entirely confined to our own market. There are two reports in circulation to account for it : one, that the Government at Madrid have determined to capi- talize and convert into Three per Cents the Coupons of the years 1841 and 1842; while the other, and the more probable one is, that some of our capital- ists have taken a lease of the Almaden Mines, a portion of the rent of which- 100,0001.—is to be paid in Five per Cent Active Stock at 20, and to provide which the purchases just referred to have been made. The appearance of the market is much firmer than it has been for some time, as the operations have been chiefly for Money and there is no weight of Stock pressing upon it. The Portuguese Bondholders generally are converting their Bonds; and not a few express regret at having been induced to oppose the Government scheme of conversion ; the only result of such opposition having been to postpone a considerable improvement in the value of their property for nearly two years, as there can be little doubt that the present high price of the Stock is mainly owing to the adjustment of the difference between the Bondholders and the Government. The quotations of today, though higher than those of the middle of the week, are per cent below those of Friday or Saturday last. The business transacted has not been important ; neither does there appear to have been any demand for small Bonds for the Dutch market. Mexican Bonds have been slightly in demand, having reached 321, but have again receded to former prices. Colombian are unchanged. A sale of Brazilian Bonds has de- pressed the price of these Securities to 63; at which price some difficulty was experienced by the broker employed in getting rid of all the Stock he had to sell : the operation was not of any political or speculative character.

There has not been any material business or fluctuation in Railway Shares; which are nearly at our last prices. Some demand has occurred for Brighton Shares : it was, however, but temporary, and has not been sustained. SATURDAY, TWELVE O'CLOCK. The English Funds are not quite so firm ; and prices, in the absence of any business of importance, may be quoted per cent below those of yesterday. Exchequer Bills the same. All the Foreign Funds are at yesterday's prices, with scarcely any sign of business.

We can only notice the following as the Railway transactions of the morning: Manchester and Sheffield, 321; Northern and Eastern, 36* j; Ditto, Scrip, 64 7t ; South-eastern and Dover, 22i; York and North Midland, 90*.

3 per Cent. Consols Ditto fur Account

931 1 98 t Columbian 6 pe. Ceuta Danish 3 per Ceuta 201 11

82 3

3 per Cent Reduced ...ex div. 93 Dutch 24 per Lents 524 34 per Cent Ditto

ex div.

lO0 I Mexican 5 per Cents Consd.. 321 New 31 per Ceuta

1012 1 Portuguese Regency 5 perCts. o71 81 Bank Stock ex iliv.

Ditto New Spec Cents 1841. 32 Exchequer Bills, 24(1. .. prem. 58 60 Ditto 3 per Cents 224 I Ditto. 2d do. 58 60 Russian 5 per Cents 112 13 India Stock

Spanish (Active) 5 per Cents 18 1 Brazilian Spec Cents

63 4 Ditto 3 per Cents 1822

214 22

Belgian 5 per Cents

1024 31

other department ; as will appear from the following statement.

England has been diminished by 411,0001.,!there has been an increase in every weeks ending the 15th instant, exhibits, as compared with that for the preceding month, an increase in the gross amount of the circulation of 894,335/. This augmentation is entirely provincial ; for while the circulation of the Bank of The monthly return of the circulation of the United Kingdom, for the four

ENGLAND—Increase. Private Banks.-- .090,402 Joint Stock ditto 244,790 635,192 Deduct Decrease on the Circulation of the Bank of England 411,000 Scomstailnerease. Chartered, Private and Joint Stock Banks Inzwain—Increase. Bank of Ireland.. £235,125 Private and Joint Stock Bioko.. 339,772 574,897 --

Making the total increase as above £894,335 0 0 The bullion in the Bank of England has diminished 15,000/ ; the present amount in store being 9,801,000/. against 9,816,0001., as by the last return. The increase of the country circulation is, we should hope, to be taken as an indication of an increase in the business operations of the last month.

s. d.

224,192 0 0 95,246 0 0 00