MONEY MARKET.
SToCR EICHAN01. FRTDAY AFTERNOON.
The fluctuations since our last report have not exceeded * per cent. Consols lor Money have been done at 893 and 891, while for Account the extreme quotations have been es and 893. Reduced Three per Cents. have been at 903 and 89k; Reduced Three-and-a-half, at 983 and 993; New Three-and-a- half, at 983 and 983; and the closing prices of all of them may be quoted at a depreciation of 3 per cent. on those of last week. The market was firm up to Wednesday-, hut on that day a sale of 85,000/. Three-and-a-half per Cents. by the broker for the Equitable Assurance Company depressed it, and later in the week, the rise in the price of corn of about 28. a quarter, coupled with a trifling fall in the Exchanges, may be cited as producing the present de- cline. Bank Stock has been quoted at 169 and 170; white India Stock has been steady at 247; and the premium upon Exchequer Bills at 14s. to 16s.
It is reported that the recent sales of Stock made by the Equitable Com- pany are in consequence of an arrangement, by which that con oration hay,: lent the City 500,000/. upon the security and for the completion of the Royal Exchange.
There has not been much business in the Foreign Market, and the prices have not fluctuated materially. The Dividend-paying Stocks are steady within a trifle of our last quotation.; while Spanish and Portuguese Bonds have de- clined about a per cent.; and the other Non-dividend Stucks have advanced in about the same degree. Columbian have been done at 203; being today 20 to 3, while Mexican are at 253 26. In the course of the week, late intelligence has been received from both countries; and while a remittance has been re- ceived on account of the Mexican Dividends, the accounts from Columbia re- present the rebellion as nearly at an end. The public, however, take so little interest in these matters, that neither of these events has produced any great effect upon the value of the Stock.
The Railway Shares had generally advanced, but for the last day or two have been Leavy. The tolls upon the Great Western and Brighton lines are represented as improving; and though there does not appear lobe any imme- diate prospect of a rise in price, the markets are evidently firmer than they have been.
In the proceedings under a recent bankruptcy at Manchester, some dis- closures of a very discreditable nature base been made, which we notice here as affecting the character and management of a local Joint-Stock Bank. It appears that one of the partners of the bankrupt firm was also a managing Di- rector of the Joint-Stork Bank, and in tLat capacity, and in conjunction with two other Directors who form the managing Committee, secretly accepted a composition of 10s. in the pound upon a large debt due from the firm of which he ass a member to the Joint-Stock Bank of which he was a Director. This insolvency and its consequent compromise were carefully concealed from the great body of the Directors, and would in all probability never have been dis- covered but for the subsequent bankruptcy of the firm, which has thus brought to light the whole particulars of the transaction. We shall not offer any COM- rnent upon this proceeding. It will, however, remind the shareholders of Joint-Stock-Bunking Companies of the necessity of watching their Directors; for it must be remembered that the 'United States Bank Las been completely destroyed by the frauds of the Directors and officers, who have made loans to insolvent members of their own body in an irregular and secret manner ; and the instance just quoted is not the first of a similar dishoneity in our own country. Considerable alarm is felt for the safety of the ship. Buckinghamshire, which m left Bombay for London with a cargo of cotton early June. Advice was re- ceived by the overland mail of a vessel that arrived at Bombay, having picked up a bale of cotton, which from the mark is known to have been shipped on board the Buckinghamshire; and as there were several other bales of the same description floating in sight, it is feared that some accident has befallen the Ten guineas per cent. WU given to insure her at Lloyd's on Tuesday, and the premium has since risen to fifteen and twenty guineas. Letters Co the 4th May were received this morning from Port Nicholson,, New Zealand, by the ship Brougham, Kettlewell master. The accounts gene- rally are of a highly satisfactory character : the continued arrivals had created a general demand for land, and so great was the competition, that sites with a wharf-frontage to the harbour had been sold at 1/. per foot. As is usually the case in a new settlement, provisions were dear, and money scarce. The value of the overland mail from India as a means of communication with our Australian Colonies was fully experienced by the receipt of intelligence on Monday last from Port Leschenault, Western Australia, noting the arrival of the Parkfield, with Mr. CLIFTON and the settlers to form the new settlement of Australind, on the 18th March, after a passage of ninety-eight days. By the same opportunity we learn the arrival of the Sterling, on the 15th March, at Swan River: the latter vessel left Plymouth on the 25th November last, while the Parkfield did not sail till the 10th December.' The accounts from the settlement of' Australind are so satisfactory that the Company have deter- mined to despatch another emigrant-ship immediately.
SATURDAY. TWELVE o'Crecie The market is rather firmer this morning; Consols for Money have been done at 893, while for Account the price has reached 893. The premium upon Exchequer Bills is the same, viz. 14s. to 16s.; but the securities are heavy at these quotations. In the Foreign Market there is but little doing, the only variation being in the prices of Columbian and Spanish Stock ; the former being quoted at 203 3, and the latter at 193 20. There have been buyers at 20; but as there was a general disposition to take advantage of this im- provement, the price has since receded, and is now as above quoted. The other Foreign Funds and Railway Shares are at yesterday's prices,.
SATURDAY. Foes o'Crecx. A considerable quantity of Money Stock has been thrown upon the market during the afternoon ; the Chancery and many other leading brokers having been sellers: and as about 50,000L for Account have also been brought to market, the price has declined, and Consols for Money have been as low as 893, while for Account the price has been as low as 893: an improvement has since occurred, and there were buyers at 893 for Money and at 893 for Account at the close. Exchequer Bills are the same, the premium being 14s. to 168. In the Foreign Market, Belgian Bonds have been done at 1023; the other Dividend-paying Stocks being without alteration: Spanish Active has im- proved to the opening quotation, and closes at 203. The other Non-dividend Stocks are firmer, but we cannot notice any improvement in the price. A failure has occurred today in the South Australian and Sydney trade. The recent accounts from these colonies state that goods of all sorts were at ruinous prices in consequence of the commercial distress existing. As a sample of the depreciation, we may mention that a cargo of rum is on its way to England, which has been purchased at Sydney at Is. 6d. per gallon, and sent here for sale • the rum itself having originally been sent from this country at a cost of at feast 4g. per gallon with expenses amounting to 4d. more ; so- that the loss to the shipper in England or consignee at Sydney, must be nearly 66 per cent. erni. ConsOlb 89t 4 Columbian 6 per Cents 201
Ditto Ion Account 1391 if Danish 3 per Ceuta 794 705
3 per Cent. Reduced 90e Dutch at per Cents 511 24 at per Cent. Ditto 99 Mexican 5 per Cents. Gonad. 214 264 New ..14 per Cents 981 4 Portuguese Regency b per Cts. 291 30 Bank Stuck 10970 Ditto New 5 per Cents. 1841.. 264 Exchequer Bills 14 I6pm. Dub, 3 per Ceuta 184 India Stock 947 Russian 5 per Cents ..... 114 11.5, Brazilian 5 per Cents 67 8 Spanish (Active) 194 20
Belgian bper Ceuta 1014 2
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