MONEY MARKET.

STOCK LECITANOZ, FRIDAY AF FERMIN:M.

' Thelusiness of the week has been very uniroportant; but the fewIrcinsac- Cons that have occurred in the English Funds haVe been' at *higher 'prices.

This improvement has been produced by the closing of 'smile large Specialatiie accounts which have been opened for the fall ; and the repurchase- of the Stock

previously sold /sas given firmness to the market, and Id to an. improvement of per cent. in price. The decline in the exchanges law atm ceased, and it is no longer profitable to send gold to Paris. The demand for the preeious metal still exists in the North of Europe, whither exportation continues: it has not, however, been so extensive this week as it was last; the large amount of Divi- dends due upon the Dutch Five per Cents, held in England, operating to counterbalance the decline of the exchange. The Coupons upon these Bonds, which are payable in Holland, are in reality bills of exchange upon that coun- try, and when purchased by the merchants connected with it, serve as a remit- tance, and thus obviate the sending over of an equal quantity of gold.

The commercial intelligence from Paris is very disheartening ; and the let- ters received from that capital this morning are of a most :gloomy character.

The continuance of the Ministerial crisis has completely paralyzed all commer- cial activity ; and, as a consequence, the bankruptcies of the first three months of.I839 have been nearly double those of the first three months of 1838; and there does not appear to have been any immediate hope of improvement. The sales of' Exchequer Bills have been continued; and have been, it is be- lieved,. on behalf of the Bank. A large sale of Long Annuities was made yesterday, which is also supposed to be upon the same account ; and if the current reports be true, the Bank Directors are seriously endeavouring to limit their liabilities, and by disposing largely of their Securities. The Joint Stock Banks in various parts of the country are also compelled, as a matter of pre- caution, to limit their accommodation, and to become less prodigal in their advances. hence the depression of the Railway Shares ; the prices of which have in a degree been upheld by the facilities with which the speculators of Lancashire have hitherto obtained advances upon them from the Joint Stock . Banks; and in proportion as these advances are curtailed, must the shares de- Cline.

In the Foreign Market, business has been very unimportant. The only se- curities that have improved are the Dutch ; and the business transacted in these has been but trifling. The recent settlement of the Belgian question has entirely chauged the course of dealing in this description of Stock. The pur- chases of the last week have been almost entirely on Dutch, and the sales on

English Account ; whereas, till recently' the Dutch have generally been the sellers, and the English the buyers. Ap anish and Portuguese Securities have experienced but little fluctuation : the markets are, however heavy ; and the tendency is apparently downwards. South American Bonds are generally heavy, as the markets always are during a period of inaction.

SATURDAY. TWELVE O'CLOCK.

The usual quarterly statement of the Liabilities and Assets of the Bank of England Shows an increase of 73,000/. in the amount of the Circulation, and of 220,000/. in that of the Securities, while the Deposits have been diminished 952,0001., and the amount of Bullion is 1,033,000/. lower. The favourable statement of the Quarter's Revenue caused an improvement in the price of Consols at the opening of the market, and the price has been as high as 9.2i for Account ; but it gave way a when it became known that the purchases for the Sinking-fund will not (as was at first anticipated) be resumed during the ensuing quarter. The books of the various Stocks, the Dividends upon which have now become due' are open to-day for private trans- fer ; and they are now quoted without the Dividend. Bank Stock is 1974 and l98; which is equal to previous quotations of. 201* and 202. Reduced Three per Cents. are 914 ; equivalent 93i with Dividend. Long Annuities are 14 7-I6ths ; equal to 14 15-1666 with Dividend ; a considerable reduction upon former prices, as during the week this Stock was quoted at 15 and 15-16ths with the Dividend. India Bonds are 40 prem.; and Exchequer Bills are rather firmer, having been done at 41 prem. There are but few transactions in the Foreign Funds, and prices generally are the eame as yesterday.

SATURDAY. FOUR O'CLOCK.

A large sale of Stock was made early in the afternoon, which depressed Con- sols to 92g ; but the market has since rallied, and closes at 92a, sellers. The business in the Foreign Funds has been unimportant, and prices are the same as in the morning.

apes Cent. Consols

924 .11 Brazilian 5 per Cents 76

92+ * Danish 3 per Cents 76 Ditto for Account . .. ... 3 per Cent. Reduced., ex dly. 91* * Dutch 2+ per Cents 55+ *.

New 3* per Ceot. Arms. 1003 + Portuguese Regency 5 per Cts. 33+ Bank Stock cx div. 197* 81 Ditto 3 per Cents 20i * India Stock

Russian (1822) 6. per Cent.—

111+ 112 Ditto Bonds 90 pm. Spanish (1835) a per Cent.... 191 20* Exchequer Bills 38 41 pm. Deferred Stuck 9 Belgian 5 per Cents. . 102* Passive Ditto

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