MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The great plenty of money and the continued investments of the public had given considerable firmness to the Morey-market, which improved in the course of Monday and Tuesday last about per cent. In the course of Wed- nesday a large quantity of stock was thrown upon the market by the Bank- broker ; and as this sale was coincident with another extensive operation by the brokers of the Equitable Assurance Company, the market gave way under the quantity of stock thrown upon it, and up to today had fallen nearly h per cent. below the highest price of the week, and about j per cent. below the closing prices of Saturday. The American intelligence brought by the Britannia, which was received this morning, has caused a further decline of i per cent., and Consols for Account have been as low as 891, while for Money the price has been at 891. The whole decline may therefore be stated at about 15„ per cent., the market, however, improved h towards the close of business. Consuls for Money have been 901, and as low as 894; while for Account the price has been 901, and as low as 891. Reduced Three per Cents. have fallen from 901 to 90; and the Three-and-a-half per Cents. have been depressed in nearly the same degree, the Reduced Three -and- a-balf (per Cents. having fallen from 991 to 99, and the New Three-and-a-half per Cents. from 99 to 981. The premium upon Exchequer Bills continued the same till this morning, when it has declined to 16s., and closes at 16s. to 18s. The Foreign Exchanges have improved slightly both on Tuesday last and to- day, and the demand which formerly existed fur bills has ceased. This specula- tion in foreign corn, to which we alluded last week, seems also for the present suspended ; and generally there seems to be less apprehension of a demand for bullion than previously existed. Money is very abundant, and loans for a few days have been readily obtainable at 2h and 2 per cent.: the speculators for a fall, however, have gained confidence from the supply of stock afforded by the two operations just referred to, it being thought that the Bank Directors will be obliged to have recourse to several proceedings of a similar nature. Bank Stock has been steady, and so has India Stock.

In the Foreign Market, Dutch Two-and-a-half per Cents. have continued to improve, and have been done as high as 521, but have since given way about

per cent. Russian Bonds, however, are in demand, and have been done at 1141. The South American and Mexican are without any material variation. Some of them have been in slight demand during the week, and Columbian have been frequently quoted at 20. The approach of settling-day has, how- ever, caused a depression, and the price has receded about a per ceut. Spanish Active has not been the subject of much speculation : the market having been chiefly governed by the fluctuations of the Paris Bourse, its gene- ral tendency has been downwards, and the stock has beeu quoted as low as 191, being a decline of h per cent. upon the prices of last week. Some of our con- temporaries complain of the course adopted by the Committee of the Spanish Bondholders in refusing to accede to the proposal of funding the overdue Spanish Coupons, and paying an interest upon them of 3 per cent. until some- thing better can be done. It appears that the Government at Madrid have paid the first half-year's interest upon that portion of the Coupons which have been converted; but the amount being but small, the claim under that head must be very trifling. The amount of Active Stock now in existence is nearly 50,000,000; upon which five years' dividend is due, amounting in all to 25 per cent. If all the over-due Coupons were capitalized, an amount of 12,500,0001. Three per Cent. Stock would be created, the annual dividend upon which would be 375,0001.; an amount with which it is quite preposterous to saddle a country in addition to claims already too heavy for her fulfilment. The only hope Of the Spanish Bondholder is in the gradual improvement of Spain ; which may be retarded but cannot be advanced by the schemes of ingenious financiers ; whatever may be their apparent tendency, those schemes have on]

one real object—the advantage of individual speculators at the expense of the public. We cannot notice any transactions in Portuguese Bonds; they have con- tinued without any fluctuation at the same prices quoted in our last report. The Railway Shares are rather firmer. Great Western have been as high as 211. premium, being a rise of 5/. from the lowest point of depression ; Brighton have been already between 7 and 6 discount ; Croydon have declined about 1/., the tolls having fallen off during the loot four or five weeks about 100/. per week. The Share Market is, however in a much more healthy state than it has been for some time : the recent decline having compelled most of the minor speculators to sell their shares, those held on speculation are in much better bands.

Today was settling-day in the Foreign Stock Exchange, and the demand for money was less than is usual on such occasions.

194 20

511 24 251 26 291 30/ 254 6 184 I 1144 1154

191 1

SATURDAY, FOUR O'CLOCK.

Seine large transactions have occurred since our morning's report, and a great quantity of Stock has been sold fur Tuesday next, by four or five of the principal brokers. The market has consequently given way, and Consols for Money have been done at 894, and for Account at 894: the Three-and-a- half per Cents, are also heavy, Three-and-a-half per Cents. 18:8 having fallen from 99 to 98k, while New Three-and.a-half are again quoted at 981, and close at 981 i. Bank Stock has been done at 169 and 1694 for Money, and is since quoted at 1704 for Account. India Stock is also marked at 2474 for Money. There was a slight improvement just previous to the close of business, and there were buyers of Consols for Account at 89a. Exchequer Bills are lower ; have been done at 14s. premium, and close at 14s. to 16s. premium. In the Foreign Market, Spanish Active Stock and Portuguese Bonds are lower ; there have been sellers of the former at 194: but with the improvement in Consols, the Bonds present a firmer appearance, and there were buyers at 191 at the close. The Railway Shares are without material variation : Great Western have been done at 19/. premium ; South Western at 531 per Share ; Brighton at 74 dis. SATI7RDAT, TwaT,vg O'CLOCK.

There has not been much doing this morning, and the market has continued steady at the opening prices : the only fluctuation has been in New Three-and- a-half per Cents., which have been at 981, since at 984, and are now 981;. Exchequer Bills continue the same. In the Foreign Market, so little has occurred that most of the quotations given must be considered nominal. A Mexican mail has arrived, but the letters have not yet been delivered. The Railway Shares are at the closing quotations of yesterday, without the least appearance of business.

3 per Cent. Consols Ditto for Account

3 per Cent. Reduced

St per Cent. Ditto

New 34 per Cents Bank Stock Exchequer Bills .....

India Stock Brazilian 5 per Cents Be1;411 5 per Cents..

091 4 89f 4

Columbian 6 per Cents Danish 3 per Cents 78 79 90

Dutch 24 per Cents

981 9

Mexican 5 per Cents. Consil.

98/ 4 Portuguese Regency 5 per Cts.

170 1 Ditto New 5 per Cents. 1841 16 18pm. Ditto 3 per Cents 248 Russian 5 per Cents .....

67 8

Spanish (Active) 101 2