MONEY MARKET.

STOCK SACRUM, FRIDAY AFTERNOOW.

The demand for money has considerably increased, and the English Public Securities generally are lower than last week. The difficulty attendant upon raising money by discount is at present very great ; the recent discovery of several forgeries having put an end to almost all accommodation of this kind. The bankers, being generally onwilling to discount except for their own cus- tomers, have for the present discontinued the custom of advancing money to the discount .brokers by way of loan upon bills; and the difficulty of obtaining money is represented as being greater than has existed fur some time past. A considerable sensation was occasioned in the City on Wednesday, by the an- nuuncement, that the old and respectable firm of W. and T. RAINES and Co. bad suspended their payments. This failure o as not of any great importance in itself, as the debts of the firm are stated to be of comparatively trifling amount ; their commercial transactions having for some years past been on a limited scale, and their credit on the decline. It was, however, at the time considered likely to operate unfavourably upon credit generally, from the fact of one of the members of the firm filling the office of Chairman of the Bank Directors. This office he has of course vacated, and it has been filled by the Deputy-Chairman Mr. Payrsox ; while the election of a successor to that gentleman, which took place to-day, has fallen upon Mr. WARD, formerly .1feniber for the City. Several sales of Consols were made in anticipaticn of the effect likely to be produced by this event ; and the price for the Account weir as low as 90. Both yesterday and to day have passed over without any commer- cial disaster; confidence has been in some degree restored, and the Money Market in the early part of the day assumed a firmer aspect ; Consols for

Account having been at 903 Sinister rumours were prevalent, however, late in the afternoon ; and a decline occurred to 90h 1, at which price the market closes. Exchequer Bills, which had given way about 5 per cent. have also rallied a little, and have to-day been at 40s. premium.

By the account last published of the amount of bullion in the coffers of the Bank of Eneand, it appears that the stock of gold and silver has been for some time on the decline, and has now reached a point which will force upon the Directors the necessity of adopting some restrictive means to lower the amount of their notes in circulation, and thus decrease their liabilities. This can only be done by disposing of some of the I'ublic Securities they hold ; and in time pre- sent state of the market, such an operation would in all probability increase the depression now existing. In the Foreign Market, Spanish Stock has fluctuated materially ; and, not- withstanding the great demand firr money, and the quantity of Stock thrown on the market daily, still continues to improve in price. The hopes of the specu- lators have been reassured by the intelligence received this morni:4; of the last proceedings of the tortes; and the rejection by that body of the Ministerial pro- position for the conversion of half the capital of Stock and the arrears of interest Into a Passive Stock, is considered as an earnest of the recognition being accom- plished on more favourable terms than has been yet anticipated. The price of the Bonds has been to-day as high as 55g ; and after fluctuating all day between 54i and 55, closed at 54i 3. The intelligence of the death of Don Penno has not produced any effect on the price of the Portuguese Securities. The Five per Cents., which have beea as low as 801, have since risen to 81,1, and close at 804 81. The demand for Belgian and Dutch Five per Cent. Stock has not diminished ; the former is at MI, and the latter 971, ex- dividend. The South American Stocks are at Pearly the last week's prices ; the specu- lation T.CDY going on in them not having, in the face of the other adverse circum- stances of the Money Market, produced any improvement in price. SATURDAY, 'NI:1XE O'CLOCK. The business of the morning has not been of any considerable importance. The market is however firmer than yesterday, and Exchequer bills are quoted higher. To-day being the 4th of die month, on which most of the bills drawn ft via Manchester fall due, it was generally feared that from the great scarcity of money some failures would occur. Happily, however, no commercial disaster has yet been announced, and, from the general tone of the Money Market, we have little doubt that none need be anticipited. The improvement of nearly 2 per cent. which occurred in the price of Cones Bonds in Paris on Thursday. has given further impulse to those securities here. The last accounts from Lisbon being also favourable, Portuguese Regency Bonds have improved, and are at 8ITI 821.

SATURDAY, FOUR O'CLOCK.

The Spanish Bonds still continue improving, and close nearly at the highest quotation of the day. A large quantity of Money Stock has been brought to market ; but the purchases for the Account have sustained the price. Money Is still very scarce, and great difficulty has been experienced in providing for the demand occasioned by the sales of this security. Portuguese Stock has im- proved, and is quoted at 821 it. We are happy to find that our morning anti- cipations have been correct, and that no failure of any kind has occurred. Our readers may form some notion of the immense amount required to pay the bills which have fallen due to-day, when we state, that three of the principal bankers have presented nearly seven thousand acceptances fur payment, and that the ag- gregate sum requisite for the day's settlement must be considerably over one mil-

90/ 4 Dutch 24 per Cents

904 4 French 3 per Cents.

I -- . Greek Omnium. 5 per Cents.

— I lexicon 6 par Cents

— Portuguese 6 per Cents. 39 41 Do.ltegency Stock.5per lent. 1004 * Prussian (1818) 5 per Cent

76k 1 Russian (18'22) 5 per Cent

I

744 75 Spanish (MO 5 ix r ceui

511 404 1124 1044 5.4 2 41 5 ' lion sterling.

3 per Cent. Consols Ditto for Account New 34 per Cent. Annuities Bank Stuck India Stock Exchequer Bills Belem, a per tents

Brazilian 5 per Cents. ex. div Danish 3 per Cents. ez. div