3 APRIL 1847, Page 9



The appearance of the English Stock Market has undergone a complete change, and the prices during the week have declined more than 1 per cent, having fallen back almost to the lowest points of the recent depression. The business transacted has been on an extensive scale: but sales have predominated, and hence the gloom and depression of the market. The Back Directors have re- jeered all bills sent in for discount by the discount-brokers. From this proceeding, indicative of a desire to lessen the liabilities of the establishment, taken in con- junction with the fact that an unusually large quantity of bullion has been sent to the United States and other countries during the last few days, it was gene- rally anticipated that at the usual weekly meeting today the present rate of dis- count would be increased: but no change has taken place. When it became known that the Bank Directors had adjourned, the English Funds experienced a slight improvement, and Consols rose from 88h to 881 for Account. There have since been some large sales; and, after being at 88k, the closing price both for Money and Account is 88h f. The Scrip of the new Loan is I discount. The usual purchases on account of the Sinking-fund have been suspended throughout the week; the Government-broker having been supplied from the Savings-banks. On one occasion the amount to be sold on the latter account exceeded that to be purchased for the Sinking-fund by 20,0001. Stock; which amount was consequently sold in market, thus rendering the Government a seller instead of a buyer. The effect upon the market has been already stated. The value of money. continues un- changed; and the rate of discount for short periods may still be cited as ranging from 3 to 4 per cent. Under these circumstances, the circular of a Joint Stock Bank offering an interest of 5 per cent upon deposits has occasioned considerable remark; as it is abundantly clear that to realize such an extraordinary rate of interest advances must be made upon insufficient security, or to doubtful dis- counters. India Bonds have fallen to 5s. discount; and Exchequer Bills may be quoted at 2s. discount to 2a. premium.

All descriptions of Foreign Bonds are nearly at the former quotations; but the business transacted has not been extensive. The last advices from the Peninsula are of a very unsatisfactory character; and the prices of both Portuguese and Spanish Bonds have deelined, although very few bargains have occurred in either of them. The Mexican Bonds are rather firmer; and the demand noticed in our last report as having occurred for the minor description of South American Stocks still continues. The dividends upon Dutch Four per Cents and Brazilian Five per Cents become due today; and these Stocks are now quoted ex-dividend. The appearance of improvement which we noticed as having occurred in the Railway Shares has not continued; and, in common with the English Funds, almost every description of these securities has fallen to the lowest recent quo- tations; the decline this week in the more important varieties being from II. to 41. The French Shares are generally depressed, especially those of the Paris and Lyons Railway; which, for the reasons given in our last report, have fallen to 3 discount. The sales of these latter Shares by French and foreign houses have been very extensive. The transactions in the Foreign Shares have been unim- portant, and we cannot notice any improvement in prices.


The transactions of the morning have been unimportant; the little business occurring has, however, been at lower prices, Consols both for Money and Ac- count being 88 h. The Foreign Funds are unchanged. The Railway Shares are rather lower; the following are the only transactions as yet recorded : East.. ern Counties, 14; Ditto. York Extension, 4f; East Lincolnshire, 61; North- western, 177; Midland, 114h; Ditto, New, 501. paid, 44; Norfolk, 135h; North British, 32/: York and Newcastle, Preference, 71; York and North Midland, Preference, 111; Ditto, East and West Riding Extension, 21j; Boulogne and Ameins, 161; Tours and Nantes, lf.


No change or business of importance has occurred in the prices of either the English or Foreign Funds. The English Stock is heavy at the prices of the morning. The Railway Shares are generally lower, as will be seen by the follow- ing record of business transacted; where the last prices in almost every instance indicate a decline. Ambergate Notts, and Boston, 2h *; Bristol and Ezeter,_741; Caledonian, 26*; Ditto, Half-shares, 2f; Eastern Counties, 19f 19 18/; Ditto, York Extension, 41 I ; Great Western, 115; Ditto, Half-shares, 681; Ditto, Quarter-shares, 17f ; Hall and Selby, 102; Ditto, Half-shares, 50h: Lancaster and Carlisle, 62h ; Ditto, New, 9; London and North-western, 177 6; Ditto, Quarters, 12f ; London and Brighton, 52h 2; London and Sonth-western, 64h; Midland, 1144 15,1 16; Scottish Midland, 20h; South-eastern and Dover, 361; Ditto, New No. 4, 4h; Boulogne and Amiens, 16f ; Dutch Rhenish, 4 31; Orleans and Bordeaux, 611; Total and Nantes Constituted, If 2.


Business has been continued beyond the usual hour, and some sales have been effected at 88. The price of Consols for Account is now 871 88. Among the reports to account for these operations, is one to the effect that the accounts of the Revenue-tables, which will be published on Tuesday, will exhibit a consi- derable falling-off. It is known that the Funds fell 15 cents iu Paris yesterday, the last prices of the Three per Cents being 78.40. Shares, on the contrary, are reported to have improved; those of the Paris and Lyons, 10 francs, and et the Northern of France, 2 francs. 861 7} 58} 9 9Q 1} 21/ 2 20 21 33 5 39 40 110} 11} 221 3

34 }

39 40

3 per Cent Consols Ditto for Account 3 per Cent Reduced

al per Cents

Long Annuities Bank Stock Exchequer Bills India Stock Brazilian 5 per Cents Belgian 4} per Cents 95 7 Buenos Ayres 6 per Cent 40 2 Chllain 6 per Cents. ex. div 90 2 Danish 3 per Cents Dutch 2} per Cents Ditto 4 per Cents.

Mexican 5 per Cents 1846 New Grenada Portuguese New 5p. Cts. 1841 Peruvian Russian 5 per Cents Spanish (Active) 5 per Cents Ditto 3 per Cents 1842 Venezuela ex. div. 88} 88} shut shut shut shut 2 dia. 2 prem. shut 84 6