MONEY MARKET.
STOCK EXCHANGE. FRIDAY AFTERNOON.
The Government Securities improved slightly on Monday ; but another com- plexion was given to the market by the arrival of the intelligence from Mo- gador. The decline which then commenced has continued till today, when Consols both for Money and Account have been as low as 98k; marking a fall of 1 per cent from the highest price of the week. Some influential pur- chases both for Money and Account have since occasioned an improvement of per cent : the closing prices may consequently be quoted 4 per cent below those of Monday. Bank Stock has been done at 199, and India Stock at 281 for Money, and afterwards at 279 for Account. The latter quotation is from 4 to 5 per cent below recent prices. A change appears to have taken place in public opinion, as evidenced by some large sales of Stock which occurred both on Wednesday and yesterday, for Money. These operations were principally in the Three-and-a-half per Cent Stocks; all three va- rieties of which closed yesterday, previously to their amalgamation into one species of Three-and-a-quarter per Cent Stock : the pressure upon the market might therefore be in some degree attributable to this circumstance. Upon all previous occasions, one description at least of Three-and-a-half per Cent Stock has remained open—the Reduced Three-and-a-half per Cents, and Three-and- a-half per Cents 1818, closing for the dividend in April and October, and the New Three-and-a-half per Cents in January and July. The present alters-
'ion, which renders necessary the closing of the books of all the three Stocks till the 17th October, may therefore have occasioned many of the sales already noticed. The French Funds continue to be regarded as the indicators of the course of political events; and the parties connected with the pigeon-expresses have been large and important operators. Money still continues very abun- dant, and the Foreign Exchanges do not show any indication of decline: it will hence be evident that the fear of war is not yet general. Some policies have been underwritten at Lloyd's to pay if war be declared between England and France within six months : the rate, till yesterday, was about four guineas per cent; but it then rose to five guineas, and that premium has today been paid to a small extent upon a policy by which the holder is to receive if war be de- clared before 31st December next.
The operations of the Foreign Market have not been important, and prices are without material variation. Dutch Two-and-a half per Cents are about h per cent lower, and generally there is not much disposition to purchase stock ; but on the other hand, the holders do not appear inclined to sell, no large trans- actions of any kind occurring. The prices are consequently supported, not- withstanding the decline of the English Funds. Spanish Stock had risen h per cent, and was in demand at that improvement ; but it has fallen back to- day to the whole extent of the rise.
The Railway Shares are without any material variation; nothing like a dis- position to sell any of them being apparent. The French Shares are about 1/. lower than last week : the market is firm, however, at the depression, with but little doing.
SATURDAY, TWELVE O'CLOCK
The English Funds have improved * per cent, in consequence of an advance of the French Stocks to a similar extent on the Paris Exchange. The busi- ness transacted has hitherto been unimportant. The Foreign Funds are firmer, with but little doing; and the Railway Shares may generally be quoted at ad- vanced prices. The business in this branch has not been so extensive as usual, the following being the only varieties in which transactions have occurred : Birmingham and Gloucester, 107* ; Ditto, New, 26h ; Brighton and Lewes, 4; Chichester and Brighton, 4; Birmingham, 220 221 220h ; Newcastle and Darlington Junction, 461 ; York, North Midland, and Selby, Scrip, 35.
SATURDAY, Two O'CLOCK.
The English Funds close at an advance of * per cent upon the opening. The rise has been chiefly produced by extensive purchases made by a broker, who is believed to act for the parties connected with the pigeon-expresses ; and it is reported that the French Funds improved again yesterday. Reduced Three-and-a-half per Cents have been done at 108# for Money, and New Three-and-a-half per Cents at 100* and 101, although the books of these Stocks are both shut. The only business in the Foreign Market has been in Spanish Stock, which has improved ; and the Foreign Bonds generally are firm, in consequence of the rise in the English Funds.
The transactions in Railway Shares have been numerous and important, and generally at advanced prices. It will be seen that Great Western are quoted at 139, or 64 prem.; the highest quotation these Shares have ever yet reached. Birmingham and Gloucester, York and North Midland, and others, are from 1/. to 2/. higher. The following bargains have occurred in addition to those given in the morning : Birmingham and Gloucester, 109; Dublin and Cashel, 71 Si ; Edinburgh and Glasgow, 65 6 ; Great North of England, 112*; Great Western, 138h 139; Birmingham, 222; Ditto, New Thirds, 37h ; Ditto, Quarter-Shares, 27h ; Blackwell, 7h 7; Brighton, 471 8; Greenwich, 81 ; Ditto, Preference, 23; South-western, 83; Ditto, Eighth-Shares, 3* ; Manchester and Leeds, Half-Shares, 52; Manchester and Birmingham, 52h ; Midland, 108 6 108; Ditto, and Birmingham and Derby, 77; Norwich and Brandon, 13*; South-eastern and Dover, (New,) 11*; York and North Midland, 10612; Lynn and Ely, 4 3.
3 per Cent Consols Ditto for Account 981 981 i Colombian ex Venezuela....
Danish 3 per Cents 134 14 884 94 3 per Cent Reduced
991 4 Dutch 2t per Cents
601 1t 34 per Ceut Ditto shut Ditto 5 per Cents 1004 1 New St per Cents shut Mexican 5 per Cents 35 4 Bank Stock 198 9 Ditto Deferred 15 4 Exchequer Bills prem. 79 6 Portuguese New 5 p.Cts.1841 934 404 India Stuck 279 81 Russian 5 per Cents 119 120 Brazilian 5 per Cents 834 94 Spanish (Active) 5 per Cents 331 4 Belgian 5 per Cents 101 3 Ditto 3 per Cents 1942 224 4 Chili= 6 per Cents 103 5 Venezuela Active 90 42
The monthly return of the average circulation of the United Kingdom for the four weeks ending the 18th instant, exhibits an increase of 280,000/. in the gross circulation ; the increase being entirely in the Bank of England part of the account : the excess in the circulation of that establishment over the amount given in the return of the 20th July is 532,000/. ; while the local cir- culation both of England and Ireland has decreased since that period by 252,000!.; thus leaving the balance of increase 280,000/. The stock of bullion has diminished 258,000!.; and the decrease, which has now continued for three months, is gradual, and appears likely to continue. The amount is now 15,227,000/. against 15,898,000/. on 22d June.
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