3 MAY 1856, Page 12

MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The heaviness in the English Funds at the close of last week upon the prospect of a New Loan was succeeded on Monday by a further depression of ; and the doubtful position of the Government at that period, with the possibility of a dissolution of Parliament, encouraged operators to sell. Consols were done at 914. Subsequently, from greater confidence in the strength of the Ministry, and a report that the announcement of a Loan would be deferred until June, there was a reaction of 4 per cent ; and on Wednesday Consols were firm at 924 j. Yesterday was the period for the half-yearly balance at the Bank the transfer-offices were closed and it was a holiday at the Stock Exchange. • The conclusion of the debate on Kars and the rejection of Mr. Whiteside's motion by a large majority caused an im- provement in Consols of k this morning: they were done at 924, and after- wards, through sales, at 924; closing at 924, and 9211 4 for Account. Bank Stock is 1 lower.

Contrary to expectation, the demand for money is increasing in all di- rections. In the Stock Exchange it rules at 6 to 7 per cent, and at the Bank and 'discount-market inquiries are 'Very nriineroas."1theh heaviness prevails in Exchequer Bills, from the scarcity of money, and the doubts re- garding a financial operation ; and the seller of a large amount would have to submit to a price below the nominal value : the time is near for the dune renewal, and unless the aspect of the market should change, an augmenta- tion in the rate of interest, or funding of a large portion, may be expected. The French Funds have been I lower, but have rallied : the exchange on London is very firm, and there is greater confidence. The Corn-market has been rather higher. The gold and specie arrivals have comprised 91,0001. from New York, believed to be chiefly. on French account, and 185,000/. from the West Indies. Small sums of gold are re- ceived from France, the North of Germany, and Russia ; further arrivals from Australia may shortly be expected ; and as the shipments on account of the Turkish Loan will soon ceaae, some relief to the Money-market may shortly be looked for. About 170,0001. of Australian gold was -taken on Tuesday to the Bank, and further large sums have been since lodged there. Of the late arrivals, it is expected about half will remain here, and there-

minder be sent to France. There has been a decline in the rates of ex- change at Canton and Shanghai, calculated to check the shipments of silver from this side.

Foreign Stoas. were fiat in the first part of the week, particularly Turk- ish Sii per Cents : they have since ralhed, and now show generally no alter- ation, especially the leading descriptions. Spanish Deferred is 1, and Mexican I better. Turkish Four per Cents are 1 lower. At a meeting of Spanish Certificate-holders on Tuesday, a series of resolutions were passed, organizing a new Committee in furtherance of their claims in Madrid and this country. Allusions were made to the improved condition of the re- sources of Spain, and to the neglect of successive Administrations respecting these securities.

Railways were dull until after the arrangement of the Account on Tues- day: this was partly owing to the high rates asked for continuation, which occasionally produced sales. They were afterwards firmer, but today have receded a little. Great Western is 614 ; Lancashire and Yorkshire, 871 84; London and North-Western, 1001 1 ; Midland, 7334. French Shares have shown great firmness, and the following improvement has taken place— Northern of France, 1/. 15s.; Great Central of France, 11.10s. ; Paris and Lyons, and Paris and Orleans, U.; Fastern of France, 158.

- S.ILTITEDAY, TWELVE O'CLOCK.

The English Funds are steady this morning, and no change has taken place; Consols for Money being 921, and for Account 921 1. Exchequer Bills are very heavy at 84 discount. The bullion return by the Bank of England shows a decrease of 152,602/. In Foreign Stocks there have been no transactions and prices are nominal. Railways continue dull—London and North-Western, loot ; North-Eastern—Berwick, 774; South-Eastern,

71.

3 per Cent Consols Ditto for Account 3 per Cent Reduced New 3 per Cents Long Annuities Bank Stock Exchequer Bills India Stock Austrian 5 per Cents Brazilian 5 per Cents Belgian 44 per Cents Chilian 6 per Cents Danish 5 per Cents Ditto 3 per Cents 92 92 4 91 3 91 3 3 -16 211 12 8 4 die. 227 30 89 92 99 101 935 ex d. 102 4 101 3 83 5 Dutch 21 per Cents Ditto 4 per Cents Mexican 3 per Cents Peruvian 41 per Cents Ditto 3 per Cents Portuguese 4 per Cents Russian 5 per Cents

Ditto 41 per Cents

Spanish 3 per Cents Ditto Deferred Sardinian 5 per Cents Swedish 4 per Cents Turkish 6 per Cents Ditto 4 per Cents Guaranteed 63 5 93 5 211 21 77 9 54 6 48 50 104 6 94 6 44 5 24 1 94 6 87 90 961 71 101 1

RAILWAY ARRANGEMENTS.

An adjourned-meeting of the Royal Swedish Railway was held on Tues- day, and resolutions were passed authorizing the Directors to raise further capital by issuing shares not exceeding 83,334 of 4/. each, to be offered first to the present proprietors, share for share; to bear 7 per cent preference di- vidend for the first five years, and afterwards 6 per cent: deposit U. per share ; first call of U. at the end of four months, the remaining 21. to be left to the discretion of the directors. No payment of interest on the exist- ing shares tee made till completion of the line. Mr. W. J. Chaplin 'MI'. has been appointed 'Chairman, and Mr. W. Tottie Deputy Chairman. The report of the Sambre and Meuse states that the balance of profit for the half-year is 11,514!.; the receipts have been 31,402/. • the expenditure 19,8881. A slividead is proposed of 38. fid. per ordinary ;bare for the year 1855.

The Holborn branch of the Royal British Bank, at the corner of Chancery Lane, was opened on Thursday.

The General Bank of Switzerland is to have a nominal capital of 2,400,0001., of which a third only will be at first issued. The chief office is to be at Geneva; there will be branches in England, France, and Sardinia. The Swiss Government has granted the privilege of issuing notes payable on demand. Of the first series of shares, amounting to 800,000/., 200,000/. has been subscribed in Geneva.

The Times stated that some of the shareholders of the London and Paris Bank propose that the undertaking shall be wound-up, by a repayment of the money paid on shares less the expenses incurred : only two-thirds of the 6000 shares have been paid on, and these-101. paid—are 41. discount; the bank has not received the support expected from French capitalists. Next day the General Manager notified that the Directors had not received any proposition of the kind, and that the organization of the bank was pro- ceeding favourably.

The Bank of Upper Canada, Toronto, propose to increase their capital by the issue of 8000 new shares of 12/. 108. currency, at 5 per cent premium ; and a portion are offered to English capitalists.

The Deposit and General Life Assurance Company held a meeting on Thursday. Messrs. Quilter and Ball, accountants, have examined the ac- counts of the Company.; and their report was considered to be favourable, and adverse to the rejected accounts of the late auditors. The meeting passed a resolution urging the Directors to continue the operations of the Company. Apparently, the Directors will do so if ultimate success appears probable ; otherwise they will transfer the business to another company. It was mentioned that several of the younger companies are amalgamating with a view to lessen expenses.

CRYSTAL PALACE.—Return of admissions for six days ending Friday May 2, including season-ticket-holders, 18,019.