MONEY MARKET.

STOCK EXCHANGE, FRIDAT AFTERNOON.

At the ordinary meeting of the Bank Directors yesterday, the usual notice on the closing of the books for the dividends was issued: the Directors are willing to make advances upon the security of Stock and Exchequer Bills till the 20th October, at the rate of 5 per cent per annum. This measure, though not so ex- tensive as was expected, gave an immediate tone to the Money-market; and Con- sols, which on the preceding day had been as low as 874 for Account, have today risen to 884. A sale of importance has since occurred, and before three o'clock the price had fallen to 884: a further decline occurred after that hour, and the latest quotation is 874 88 for Account and 874 for Money. The premium of Ex- chequer Bills has advanced; large bills having been as high as 62. and small ones 13s. It was expected that the Directors would have reduced the discount gene- rally to 5 per cent from its present rate of 54. As they have not done so, it is -clear that they still are unwilling to lock up their capital; for while by the present measure they relieve temporary pressure upon the market, they still, by making money comparatively dear on loans for long periods, keep a cheek upon speculation. Many of the Railway Companies, who are in the market as borrowers, find con- siderable difficulty. in raising money at 5 per cent, and are in reality under the name of commissiongiving bonuses to induce loans at the legal rate; or in other words issuing their debentures at 2 or 3 per cent discount. As long as this state of things continues, any reduction in the rate of discount can hardly be expected.

The transactions both in the English and Foreign Funds have been unimportant. A pressure occurred on Wednesday, in consequence of the reported despatch of troops from the Ionian Islands to the coast of Italy- but this feeling was only mo- mentary. The reported occupation of the city of 'Mexico, alluded to in a part of our last impression, appears to have been premature. Mexican Stock experienced a decline of about 4 per cent, but has since slightly reacted, and is this afternoon about 4 per cent lower than on Saturday. There is no change or symptom of revival in the Peninsular Stocks; both Spanish and Portuguese Bonds being at the same prices as last week. Some few transactions have occurred in the latter, but no material variation in price has taken place. The more important Railway Shares seem to be slowly recovering the shock occasioned by the recent reduction in the dividends of many of them and prices are in some instances at a trifling advance upon recent quotations. There does not appear to be any general revival of business or speculation in this department; which, indeed, can hardly be expected at present. The dividends of the current half-year are as much in jeopardy as those for the half-year just ended have been. The difference in the charge for interest on loans and deben- tures has not yet exerted its full influence upon pofits. Many of the principal lines are now compelled to increase their rates of interest; large amounts of de- bentures which bore 34 and 4 per cent being continually maturing. To liquidate these claims loans at 5 per cent must be made; and in some instances this can only be done at a sacrifice of capital. The mortgage or first charge upon nett profits is therefore continually increasing; and it remains to be seen whether the traffic-returns will compensate its increased pressure.

SATORMAT, TWELVE O'CLOCK.

The accounts of the Bank of England exhibit as compared with those of the previous week a decrease under the following heads—notes issued, .49,0401.; rest, 60,1491.; seven-day and other bills, 26,4491.; notes unissued, 157,9751. There is an increase in the following—public deposits, 362.9041.; other deposits, 174,6651.; Government securities, 75,0001.; other securities, 594,8421. The total amount of bullion in store in both departments is 9,189,6821.; being a decrease of 99,9361. as compared with the last return. The amount of notes actually in circulation is

however, increased by 108,3951.; the present amount being 18,235,8551. against 18,126,9201. last week. The English Funds were heavy at the commencement of business; the first price of Consols for Money being 87/, while for Account the quotation was 874. More firmness has since been evinced, and in the absence of any transactions of importance the price for Money has improved to 874 4 and for Account to 88 4. Not a single bargain is yet recorded in the official list as having occurred in any one of the Foreign Fonds; which are all at yesterday's prices. There is no material change in the Railway Shares; which may be considered heavy at current quotations. The following are the principal bargains occurring: Ambergate, Notts, and Boston, 14; Birmingham and Oxford Junction, 214; Caledonian, 324; Eastern Counties, 184, I; Ditto, York Extension, 94; East Lancashire Extension Scrip, 11 104; Edin- bnrgh and Glasgow, 60; Great Northern, 2/: Great Western, 109/ 8; Ditto, New, 171.,91; Leeds and Bradford, 924; Brighton, 49 84; North western, 167; Ditto, Quarter-shares, L. and B., 25; Manchester and Leeds, (Thirds Registered,) 14 discount; Manchester and Southampton, 1,1; Midland, 124; Newcastle and Berwick, 324; Ditto, New, 8/ 4; North British, 294; Ditto, Thirds, 2; North Staffordshire, 9/ 10; York and Newcastle, 354; Ditto, Extension, 144; York and North Midland, 78.

3 per Cent Consols Ditto for Account

3 per Cent Reduced

31 per Cents 874 f 88 4 874 8 894 4 Danish 3 per Cents Dutch 24 per Cents Ditto 4 per Cents.

Mexican 5 per Cents 1846

85 7 551 G 4 681 94 184 194

Long Annuities 9 4

New Grenada 19 4 Bank Stock

Ditto 4 per Cents 1845 24 6 Exchequer Bills 6 14 pm. Peruvian.. 34 6 India Stock 241 Ruskan 5 per Cents ..ex. d. 108 110 Brazilian 5 per Cents 83 5 Spanish (Active) 5 per Cents 191 204 Belgian 44 per Cents 92 4 Ditto 3 per Cents 1842 294 30 Buenos Ayres 6 per Cent.... 35 8 Venezuela 38 40 Chili= 6 per Cents 90 2