MONEY MARKET.

STOCK EXCHANOZ. FRIDAY AFTRRNOON.

In the early part of the week, some speculative sales of Stock were made ; and it was very generally reported that these operations were undertaken in consequence of the determination of the Government to impose an income-tax of from 2; to 3 per cent. The depression which we noticed as having occurred on Friday last consequently continued ; and during its existence the price of Consols for Money was as low as 884, while for Account the quotation fell to 89. The other Government Funds were affected in a similar degree : Reduced Three per Cents declined to 804 ; Reduced Three-and-a-half per Cents to 99, and New:Three-and-a-half per Cents to 984. The report as to the income- tax, although it obtained credit for a short time, is now disbelieved; and as the decline of the Funds brought purchasers into the market, there has since Wed- nesday been a continued improvement ; the prices of today being nearly as high as ally recently obtained, and from ; to above the lowest prices of the week ; Consols for Money being quoted at 894, Reduced Three per Cents at 89;, and New Three-and-a-half per Cents at 994—an improvement of per Cent ; while New Three-and-a-half per Cents have been done at 984, and Consols for Account at 894—a rise of 4 per cent. The market experienced a further improvement this afternoon; and at the close Consols for Money were 894 ; ; for Account 89; 4. The premium upon Eskhequer Bills has been as low as 16s. ; and for some days these securities were quoted at 16a to 18s.; but they have since improved, and are today 17s. to 19s. Bank Stock has been quotedj at 167;, or 1 per cent below the highest recent price ; and India Stock at 2474—a like depreciation. We have to notice a transaction in New Five per Cents at 1174, and in South Sea Stock at 994; liminess in either of these stocks being of very rare occurrence.

The meeting of Parliament has revived the question of the liability of Go- vernment to pay the repudiated Exchequer Bills, which had been for some time quietly laid to sleep. No new fact has come to light, in any way tending to indicate the course likely to be adopted. The prevailing opinion in the City is, that the Government will eventually bear harmless the bond fide holders: we, however, believe that such anticipations are at least premature. The Northern European and Dividend-paling European Stocks are without material variation, though rather more in demand, in consequence of the ad- vance in the English Funds. Brazilian Bonds declined nearly 3 per cent upon receipt of the intelligence of the insurrection of the Province of Ceara : the price has been as low as 62;, but is today quoted at 63i. The other South American had been rather in demand; but the markets generally had flattened, and were heavy this morning. In the course of the afternoon, however, Mexican Bonds improved nearly 1 per cent, baying reached 314; and this cir- cumstance has caused a nominal advance in the prices of the Non-dividend South American Bonds, and Colombian were done at 22i. We have not heard of any business being transacted at the improved rates in the others. The transactions in Portuguese Bonds have been few and unimportant ; and prices have been without any fluctuation, nearly the same as those of last week. The converted Five per Cent Stock of 1841 seems to be getting more into favour ; and some few purchases for Money have recently occurred, at 284 and 28k: although, as it is not admitted to quotation in the Official List published by the Stock Exchange, bargains have passed unnoticed. Spanish Active has been as low as 244, but has rallied again to 24i a : the business transacted, however, has been quite unimportant, and all speculation seems for the present itt abeyance.

The business in Railway Shares has been principally confined to those of the Brighton line; which close today rather more than 1/. per Share above the prices of the early part of the week, having improved from 354 to 361. The newly-appointed Inspector of Railways, General P.ssizr, is either at present engaged upon or about to commence a survey of this line; and his report upon it is expected with great anxiety by those who are interested in it ; for if, as some anticipate, he should require an alteration in the angle of the chalk.- cuttings, it will be necessary to close the railway for some time to perfect this operation.

SATVEDAY, TWELVE O'CLOCK.

The Stock Market has been in a state of greater activity than ordinary upon. Saturday morning; and an improvement of ; per cent occurred in the prices of every description of Government Stock, as compared with yesterday. Consols for Money.were done at 894, for Account the price reached 898 ; and so firm was the market that there were for a short time buyers at both these prices: however, it slackened again ; since which a sale for 50,0004 at 89; for April, has caused a further depression, and there are now sellers at 894 for Money, and 89; for Account. Exchequer Bills are the same.

In the Foreign Market, the demand for Mexican Bonds continues; and, after being at 324, this stock is now 314 324. Columbian is the same as yea. terday. Peruvian are quoted at 154. Spanish Active is firmer. viz. 244 4. By the Linnet packet we have advice!' from Rio Janeiro to the 25th Decent- her last. But as it is impossible that any confirmation could be received as to the truth of the report of the insurrection in the Northern Provinces, its con- tents are unimportant. The price of the Stock remains the same, viz. 63 to 64. Portuguese Stock remains unchanged. The Railway Shares are firmer; we have to notice the following transactions in them : Great Western, 85; 64; New Ditto, 604; Ditto Fifths, 94: Brighton, 37: London and Birmingham, New Thirds, 284: Manchester and Leeds, Quarter- shares, 4: Midland Counties, 20*: South-eastern and Dover, 27: York and North Midland, 944.

SATURDAY, FOUR O'CLOCK,

The English Funds close nearly at the quotations of the morning; Consols- for Money being 894 4, for Account 89 1 4—a decline of per cent upon the highest price of the day. The rumour of the imposition of an income or pro- perty tax has been revived ; and the operations of the morning which produced the fall are stated to have been undertaken in consequence. In the Foreign Market, Mexican Bonds have recovered again, and close nearly at the highest price of the day, viz. at 32; 4. Columbian are the same. Spanish Active Stock declined to 244 4, but rallied again, and closes at 244 4. The other Foreign Funds are without variation.

The following transactions have occurred in Railway and other Shares, in addition to those given in the morning : Birmingham and Derby, 58; Brighton, 364; York and North Midland, 94; National Provincial Bank of England, 35.

By the last arrival from Rio Janeiro, advice has been received of the accept- ance and payment of all the bills drawn by the Brazilian Minister upon his Government, to provide for the dividend due upon the Brazilian Stock in October last : remittances have also been received for part of payment of the April dividend. 3 per Cent. Cousobs Ditto for Account 3 per Cent Reduced 31 per Cent. Ditto. New 34 per Cents. Bunk Stock Exchequer Bills India Swek Brazilian 5 per Cents Belgian 5 per Cents The usual quarterly statement of the weekly liabilities and assets of the Bank of England exhibits, when compared with the last, a decrease of 2,000/. in the amount of the Circulation, and an increase upon every other item—in the Deposits of 558,000/, in the Securities of 200,000/., and in the Bullion of 458,000/. 'fbe amount of bullion is now greater than at any period since April 1839, and more than double the amount given by the averages of the October and November of that year ; but the amount now stated, 5,237,0004 is considerably under the real quantity, as we have here stated only the average quantity on hand from the 9th November last to the 1st instant : it is probable that the actual amount is nearly 6,000,000/. In the monthly return of the Circulation of the United Kingdom, for the four weeks ending the 8th January, given the week before the last, the average amount of bullion in the Bank is stated at 5,629,0001.; and as the quarterly statement for the thirteen weeks ending 4th January gave the average as 4,779,000/., it is evident that the average for the longer period gave the amount as 841,0001. below what was actually in the store at the time of taking the average. The difference between the amount now given and that on the 8th January is nearly 400,0001. in favour of the latter ; while the average increase on the thirteen weeke, to which the account now given refers, is 746,000/. : but as it is evident that the actual increase must at least double the average, we think we shall be jus- tified in assuming the amount of bullion now in store at nearly 6,000,0301.;

[A correspondent, who signs his communication "A Smtaa-Descen," ergs that we were in error as to the intended destination of the new building in Threadneedle Street ; adding, that MY. MORHAY assures him he has no inten- tion of appropriating it to the purposes of a Stock•market. In reply, w_ only say, that when we noticed the report in our last paper, it had been current for some days in the Stock Exchange ; that many of the members went to in- spect the building in consequence ; and that the probable effect of the esta- blishment upon the interests of the shareholders of the Stock Exchange and upon the business of the Money. market in general, was freely and generally discussed.] sellers sellers

891 894k 891 994 984 1 1674 Si 17 19 pm. 2474 81 63 4 102 3 Columbian 6 per Cents Danish 6 per Cents Dutch 24 per Cents.

Mexican 5 per Cents. Consd Purtuguese Regency 5 per Cts. Ditto New 5 per Ceuta. 18,1 Ditto 3 per Cents

Russian Spec Cents.

Spanish (Active)

221 • 81 2 511 314 24 28 133154 417 191 20 244