STOCK EXCHANGE, FRIDAY AFTERNOON.
We have to notice the unusual circumstance of a fluctuation of per cent in the prices of the English Funds. The recent decline of Columbian and Spanish Stock has caused the insolvency of an individual (not a member of the Stock Exchange) who had speculated largely in these stocks ; and as he was also an extensive operator for the rise in Consols, he was compelled to close his account in them also, thus throwing a large amount of stock upon the market, which declined in consequence nearly I per cent. As this depression occurred on Wednesday, when intelligence was received of a fall to nearly an equal extent in the French Funds, rumours were prevalent of the illness and even death of the King of the French; but the absurdity of such reports was soon made apparent, and the market rose rapidly as soon as the sales just noticed termi-
nated; Consols for Account improving in a very short time from 901 to 914, and all the other Stocks recovering as rapidly. The quotations have since been steady ; Consols for Account having only varied from sellers to buyers at 914, and the other current varieties in a proportionate degree. Just before the close of business this afternoon, the substance of the intelligence brought by the overland mail from India became public, and the English Funds im- proved nearly * per cent. There were at one period buyers of Consols for Account at 911, but the last price was 91* ; thus marking an advance from the lowest quotation of from 4 to # per cent. The premium upon Exchequer Bills remains the same. The books of the various stocks now closed for the Dividends will be open for private transfer on the 6th instant ; and the Divi- dends will, with a deduction for the amount of Income-tax due on them, be paid on the 8th. Those parties who by the operation of the clause exempting incomes under 150/. per annum from the tax are not chargeable with it, will receive back the amount thus deducted on making proper application to the Tax Commissioners.
The holders of and dealers in Mexican Bonds were much alarmed yesterday morning by a report that the correspondents of Messrs. LIZARD' and Co., at New Orleans, had stopped payment ; and as it was supposed that this insolvency would materially affect the London firm, who as agents for the Mexican Go- vernment have at present in their hands nearly the whole amount of the October Dividend upon the Mexican Stock, a sort of panic seized the jobbers and dealers in it. The price, which at the opening of the market was 37, fell in a quarter of an hour to 31. The absurdity of the alarm, however, soon became evident ; as even if the whole of the accruing dividend were lost to the Bondholders, the defalcation would only amount to 24 per cent : at one period of the morning the possibility only of this loss had occasioned a decline of 6 per cent. There was consequently a speedy reaction to 34; and as, just at that moment, a communication was received from Messrs. LIZARDI denying the truth of the report, the price rose to 36; and after receding to 344, it has since been steady between 35 and 36. It appears that a member of the Stock Exchange received a letter from New York stating distinctly that the house of LIZARDI in New Orleans had stopped payment; but this is believed to apply only to one of the banks, for which Messrs. LIZARDI of London are agents, and which in common with all the other banks of New Orleans has suspended specie payments. The alarm does not seem to have affected the real holders of the Stock; as we believe that not more than 20,000/. stock was sold at the low prices, and that chiefly by the jobbers; only one or two brokers having been sellers Columbian Bonds have not recovered the shock they received last week : the price, which was on Tuesday as low as 21, has since been 224. The depression was chiefly owing to the necessity of closing the account of the speculator be- fore alluded to ; the forced sale of between 50,000/. and 60,0001. stock being sufficient in a limited market to account for the decline. A better feeling seems now to prevail with regard to this stock, which has been tolerably firm for the last two days. Portuguese Bonds are lower; the speculation which has been going on in them for some time having been brought to an untimely close by the Columbian disaster. The Five per Cent Bonds fell on Monday to 36, and again yesterday as low as 34; while the Three per Cents, which were at the close of last week at 22, were yesterday at 20*. The market has im- proved today ; the Fire per Cents Regency having been done at 344 ex-divi- dend, equal to a quotation yesterday of 351; the Three per Cents being at 204 ex-dividend, equal to 21* with dividend. Spanish Stock has shared in the gene- ral wreck : the Active Bonds were yesterday at 201, and the Three per Cents at 22*. The former had improved to 201, and the latter (which are today quoted ex-dividend) to 211, equal to a previous quotation of 23: both have, however, receded nearly 4 per cent, and close heavily at the lower quotations.
The transactions in the Railway Shares have not been important, Blackwell and South-eastern and Dover New Shares have declined from 11. to 2/. without any apparent cause ; Brighton, South-western, and the more important lines, are without any material change: there does not appear to be any symptom of a revival of the spirit of speculation. The usual monthly statement of the weekly liabilities and assets of thc Bank of England for the three months ending the 18th June appeared in Tues- day's Gazette. As compared with the last statement, viz, that of 21st May, there is an increase of 259,000/. in the amount of the Circulation, and of 288,000/. in that of the Bullion; while the Deposits have been diminished by 34,0001., and the Securities by 185,0001., as compared with the average of the 224 June 1841. There is an increase in the Circulation of 1,163,0001., in the Deposits of 793,0001., in the Bullion of 2.212,0001., while the Securities have decreased 520,000/. The amount of bullion, now 7,320,0001., is greater than at any period since March 1839, and nearly three times the amount of the average of the months of October and November of that year.
SATURDAY, TWELVE O'CLOCK.
The English Funds are the same as yesterday afternoon, with the exception of Reduced Three-and-a-half per cents, which have advanced about 4 per cent, and are quoted at 104 In the Foreign Market prices are also nearly the same, and the business transacted has been unimportant. The business of the Railway Share-market has been confined to a transaction in Birmingham Shares at 166; and bargains in South-eastern and Dover at 23* and 231 ; while the New Shares are offered at 41., or 1/. discount. This decline has been oc- casioned by some sales made on account of Liverpool speculators. These Shares have been in a depressed state for some time, and the immediate cause of the fall may be found in the approaching maturity of a call of 5/. each upon - the new shares, which will become due on the 17th instant.
SerusnSs, Form o'CLoca.
The concurrence of several purchases for Money has caused an improvement of * per cent in the prices of the English Funds ; Consols for Account closing at 914 4, and the others at a proportional advance. The only change in the value of the Foreign Bonds has occurred in Spanish Stock, both varieties of which are at an advance of * per cent ; the Active Stock closing at 201 1, and the New Three per Cents at 21 to * ex. div. The following transactions have occurred in Shares. Railways—Great North of England, 774; Great Western, New, 61i ; Ditto Fifths, 81; Brighton, 35 341; Birmingham, 1761 74; Ditto
Thirds, ; Croydon, 124; North Midland, 601; South-eastern, 23 231; Ditto New, 34. Banks—Colonial, 25; Union of Australia, 30; Ditto New Shares, (24 paid,) 31. It will be seen that the improvement of the English Funds has given an impulse to some of the Railway Shares ; Birmingham being last quoted at an advance of 14, and South-eastern at upon the lowest pica.
3 per Cent. Consuls
Ditto for Account 3 per Cent Reduced 3/ per Cent Ditto New 31 per Cents
Exchequer Bills, 244.
Ditto, 2d India Stock Brazilian 5 per Ceuta
Belgitui 5 per Cents .... ......
914 a Olt 41
166 7 44 47 pm. 41 43 pm. shut
Columbian 6 per Cents
Danish 3 per Cents
Dutch 24 per Cents ex d Mexican 5 per Cents Coned. Portuguese Regency 5 per Cts. Ditto New 6 per Cents 1841 Ditto 3 per Cents Russian 5 per Cents Spanish (Active) 5 per Cents Ditto 3 per Cents 1842..ex d
221 4 801 14 514 4 36 4
34 1 ex d 29 22ex d
20 1ex d 113 114 201 4 21 4