STOCK EXCHANGE, FRIDAY AFTERNOON.
Sinister reports of a deficient harvest, and of the existence of the potato- disease both in England and Ireland, have operated prejudicially upon the price of Consols. The dispute between our Government and that of the United States on the subject of the fishery in the Bay of Fundy has also tended to depression. Consols have declined to 991, and close this afternoon at the lowest price, with no signs of improvement. The public have evidently sold a very large quantity of Stock, and nothing but the low rate of interest prevents a fall. Among other causes of decline, we may notice a report that the Bank returns to be published tomorrow will indicate a considerable decrease in the stock of bullion. This is easily accounted for by the fact of large shipments of bullion to Australia ; more than the amount- said to be deficient having been exported to that colony during the last week. But if it were otherwise, there is nothing ominous in the de- crease, as it would be very much to the advantage of the Bank if the stock of bullion iu its vaults were diminished by nearly a half; the Bank's profits would be materially increased, without rendering: any contraction of its cir- culation necessary. Money is still abundant, though there is rather more demand for it than recently.
The business of the Foreign Market has been chiefly confined to the better class of Foreign Stocks ; all of which are at higher prices. Sardinian Stock is firmer. Some transactions have occurred in the Scrip of the Brazilian Four-and-a-half per Cent Loan, which has been at 3 premium. Mexican Bonds are heavy ; so are Peruvian and the other South American securities. Portuguese Stock is about 1 per cent lower ; the Cortes having been dissolved without passing the law required to carry out the proposed consolidation of the over-due dividends. Spanish Stock is also heavy.
The prices of Railway Shares have fluctuated materially, in consequence of sinister reports as to the amounts of the various dividends now falling due. The most marked decline is in the shares of the North-western, which have fallen this week about 51., and in all about 101. from the highest recent quo- tation. It appears from the accounts of the Company, published this morn- ing, that the Directors intend to propose a dividend at the rate of 51 per cent per annum for the half-year just ended ; to meet which, the sum re-
quired is £546,903 but the neat earnings of the half-year are only 432,731 leaving £114,172
to be provided from reserved funds to make up the p dividend. In other words, out of every 1001. proposed to be paid, the Railway has actually earned about 791. 3s. It should be recollected, however, that the half-year just concluded is always one of deficient earnings,. and has been in all pro- liability more than usually unproductive as following immediately upon the year of the Great Exhibition. Nearly all the principal shares have fallen from 2/. to M. The French Shares are all lower. This market had been in a state of great activity, and large purchases of shares were made here on French account. These operations naturally induced extensive sales in Paris ; where most of the current shares fell yesterday about 16 francs per share. A corresponding decline has taken place here, though little business has occurred at the low prices.
SATURDAY TWKLVE o'er-oak.
Consols opened at the closing price of yesterday-991 1, both for Money and Account. The transactions of the morning in the English Funds have as yet been insignificant. In the Foreign Market, prices are nominally the same as yesterday. The Scrip of the new 41 per cent Brazilian Loan is quoted at 21 to 31 premium ; a considerable purchase by an influential broker having occurred after the usual hours of business yesterday, which has im- parted firmness to the market. The Railway Share Market is heavy, though as yet the bargains transacted have been unimportant. Great Western Stock is down more than 1 per cent, the report as to the dividend being, that it will be at the rate of 4 per cent per annum, and that it will be eked out by the appropriation of 36,000/. from the reserved fund. The French Shares fell yesterday in Paris, and are consequently all lower here, with but little doing.
SATURDAY Two o'Cr.ocar.
The English Stock Market has been heavy during the morning, and closes at a decline of it, the last price of Consols being 991 f. The business trans- acted has been unimportant. In the Foreign Market the transactions have been limited, the following being the record of actual bargains—Brazilian Scrip, 21 ; Danish Three per Cents, 82; Mexican Three per Cents, 25 1; Peruvian Active, 101 ; Ditto Deferred, 60; Sardinian, 951 95; Spanish Three per Cents, 481; Ditto Three per Cent Deferred, 221 ; -Belgian Four- and-a-'half per Cents, 951 96; Dutch Two-and-a-half per Cents, 641; Ditto Four r er Cents,-971. The Railway Share Market has been heavy ; a large purchase of Mid- land Stock occurred late in the afternoon, which gave a better tone to the market generally. . The particular Stock in question rose more than 14,, having been as low as 711 and closing at 724 3. The following are the principal transactions—Aberdeen, 26 ; Ambergate, Notts, and Boston, 61 ; Bristol and Exeter, 103 ; Caledonian, 39181 91 39 ; Eastern Counties, 1011; Edinburgh and Glasgow, 65 4 ; Great Northern, 794 80 ; Ditto Half-shares A Deferred, 45 61; Ditto Half-shares, B 6 per Cent, 120 ; Great Western,, 99 8 1 71; Lancashire and Yorkshire, 80 7914 ; London and Blackwell, 81 4; London, Brighton, and South Coast, 106 71; London and North- western, 1251 51 1 ; Ditto New Quarter-shares, 301 1'; Ditto Fifths, 161 1 ;. London and South-western, 94 31 24 3 ; Mideand, 73 11 21 1 a 1; Norfolk, 43; North British, 30 291 301 30 ; North Staffordshire, In 4; Oxford, Wor- cester, and Wolverhampton, 221 3 21 4 ; South-eastern, 70 694 i0; Yor4, Newcastle, and Berwick, 701 1; Ditto Extension, 121 ; Ditto G. N. E. Pur- chase or Preference, 71; York and North Midland, 501 481 91 49 ; Reading, Guildford, and Reigate, 261; Caledonian, 10/., 100 11 ; Chester and Holy- head, 191 1 ; Norfolk Extension, 221; North British, 105 ; Oxford, Worces- ter, and Wolverhampton' 15/., 6 per Cent, 141; Northern of France, 251; Paris and Lyons, 191 41 ; Paris and Rouen, 341; Paris and Strasbourg, 3 per Ceat Consols Ditto for Account . .... 3 per Cent Reduced
Long Annuities g '.1g. Stock Exchequer Rills
India Stock Brazilian 5 per Cents Belgian 44 per Cents Chili= 6 per Cents
Danish 5 per Cents
• 99i i
994 4 1 I
61 228 230 71 79 pm. 280 284 101 3 95 7 105 7 107 8 Danish 3 per Cents 81 3 Dutch 24 per Cents Ditto 4 per Cents 97 84'
Mexican 3 per Cents 2.5 Peruvian 6 per Cents 101 3 Portuguese Sparents 1824 35 37 Russian 5 per Cents 120 1213
Ditto 44 per Cents 194 5 Spanish 3 per Cents 41/ 94
Ditto Deferred 211 2241 Sardinian 5 per Cent 95 6
Austrian Scrip --
24/ 4; London and Westminster, 321