7 DECEMBER 1839, Page 9

MONEY MARKET.

STOCK EXCHANOE, FRIDAY AFTERNOON.

By the recent arrival of the Great Western intelligence of a very favourable character was received from the United States. The dearness of corn in France had caused large orders for flour to be sent thence to America, and some extensive shipments of that commodity had been made to Havre from New York. The American merchants have been enabled, by drawing bills for the amount of flour thus shipped, to make very large remittances to their cre- • ditors in England ; and on Tuesday last, as well as to-day, many bills so drawn at New York, upon Paris, were negotiated upon our exchange. It was antici- pated that a rise in the rate upon France would have been -the consequence; but as all the bills that were offered were anxiously taken, with the appearance of' a further demand, the exchange has not experienced any material alteration. In addition to these remittances, the Croat Western brought 100,000/. in gold for the Agent of the United States Bank. The near approach of the 1st of January, at which period many of the dividends of the United States Bonds will become due, is beheld with anxiety by the holders of some of these secu- rities ; a vague, and we trust groundless, fear being entertained by sonic of them, that the dividends will not be paid in course. It should, however, be borne in mind, that the facility of steam communication has obviated the ne- cessity of making the remittances for the payments of the dividends in England at the same early period as formerly ; and if all the requisite supplies have not been at present received, the arrival of the British Queen, which will take place before the 1st of January, will afford an opportunity to supply any defi- ciency. We may add, that there has been considerable business done lately in American Canal :Shares, and in the Shares of theUnited States Banks ; though it is understood that the latter establishment will proceed to wind up its affairs. The books of the English Funds upon which the Dividends become due in January, have closed for the Dividend. It was anticipated that from the large purchases of Consols made for shutting, that the jobbers would have expe- rienced some difficulty in providing the requisite amount of Stock, and that a rise in price would have occurred : no improvement, however, took place; and Oh Wednesday' the day of the shutting, the price of Consols for Money WWI 90h 91, and for Account el i. The market has since assumed a much Vetter appearance; and the price of Consols for Account has reached. 92k, at which pnce they were done this morning. The advices received to-day from the ma- nufacturing districts being any thing but favonrable,—the letters from Liver- pool especially infbrming us that large orders for corn have been sent thence to the Continent,—the market gave way temporarily ; but has again rallied, and has been as hegh as 92k. India Stock has been quoted to-day at 255 for Ac- count ; which, regard being had to the present value of money, is equal to about 253k for Money, showing a rise of 11 per cent. Bank Stock was 179; but has to-day been done at 178. There has been an improvement of A per cent. in New Three-and-a-half per Cent. Stock ; which on Wednesday, the last day on which Money transactions occurred in it, was 99A. Exchequer Bills have never risen above 1 dis.; it being generally understood that no increase of the rate of interest will be made, if made at all, until after the 6th of January next, the day upon which the last instalment upon the Scrip of the recent funding will become due : indeed it will be seen' that the Government cannot, without risking the imputation of a breach of faitli with the subscribers to that opera- tion, take any course that shall increase the value of Exchequer Bills until an the instalments have been made.

Money is more abundant, and discounts more easy than before the issue of the Bank notice of last week.

In the Foreign Market, we have to notice an improvement of 1 per cent. in Dutch Twoeuid-a- half per Cent. Stock, occasioned by a rise at Amsterdam, and consequent demand upon our exchauge. The movement in Holland is understood to have arisen from the determination of the Government to appro- priate the Sinking-fund to the public service, thus lessening the amount to be raised by the approaching loan. Brazilian Builds are also higher, as are the Dividend-paying Stocks generally, in consequence of the rise in Consols. The anticipated amigo of Ministry in Portugal has given an impulse to Portuguese Bonds, which were yesterday 24 per cent, above our last prices, hut have slightly receded to-day. Spanish Stock has fluctuated between 21i and 25;1, the latter quotation being the closing prioe of yesterday, but has flattened to-day, and closes at 2411 Columbian Bonds are also heavy, without any transactions of importance. The failure of the Imperial Bank at Manchester, and legal proceedings con- sequent upon that event, have brought tu light some instances of extreme ne- gligence in the officers of that establishment, which have been productive of ',tech inconvenience to several individuals. By the act of incorporation, after providing that the Secretary may sue and be sued in the name of the company, and that such officer shall not be liable for the debts of the concern beyond the amount uf its property in his custody, a remedy is giros to the creditors against all or any of the shareholders mon affidavit who may be enrolled as such at the Stamp-office ; proof of the fact of such enrolment as shareholders- suffi- cient to enable the creditor to sue nut judgment against such enrolled share- holders as he may select. About forty judgments were sought at the end of last term against several persons said to be enrolled shareholders, many of whom never held any shares whatever. On inspection of the affidavit made by the officer of the Company at the Stamp-office, it appears that he did not swear that the persons so enrolled were shareholders to the best of his linmeledye and beliet; but that they were sharyhohlers as ap- pears' by the batiks of the said Genpany; thus perpetuating all the errors of the share-register in the deed of enrolment. 17pon affidavit of this tint, however, the Court have refused to issue judgmeet against any of the parties whose names have been thus surreptitiously given out as shareholders ; but these parties have been put to much anxiety, and mulcted in a considerable sum as costs, for resisting the demand occasioned by the negligence of the par- ties to whom the enrolment of the shareholders was Intrusted. Svrtoosv, Twsi.vr. &mom. Consols have been heavy, and as low a 91k for Account, but time market has since risen to 92A, and a purchase of 25,000 at that price caused a further improvement to buyers at `Long Annuities may also he quoted higher, viz. 14, being an advance from l3. Exchsquer Bills are Os. to ls. die. In the Foreign Market, Spanish Stock has as usual been the only attraction, and was at one time as low as 241, but has since improved to 24A 4. The other Fo- reign Funds are at yesterday's prices An arrangement has been concluded be- tween the Messrs. Thernscumn and the Agent of the United States Bank, by which the said firm have contracted to advance 1,000,000!. sterling upon the deposit of State Stocks to the same amount and issue of debentures bearing in- terest at the rate of 6 per cent. per annum: the price of these debentures has been fixed at 94, with 2 per cent. commission ; and they are redeemable at par in two years.

SATORPAY. FoUE O'CLOCK.

There has been no business of importance transacted during the afternoon. Consols for Account, after being 92%, close at 92 to h. Exchequer Bills are the same. India Stock has been done at 255 for Account. In the Foreign Mar- ket, Spanish Stock has been as low- as 24, but has since improved to 24 4,

which is the closing quotation. The other Foreign Bonds close at our morn- eug's prices.

3 Cent. Consols shut per Brazilian 5 per Cents 711 2 Ditto for Account 921

Belgian 5 per Ono. 1001 1+ ' 3 per Cent. Reduced

901 1

Colitmbitm 6 per Cents. 1824

01 30

31 per Cent. Ditto 9111 1

Danish 3 per Ceuts.

73 4 New 31 per Cents

slint

Dutch 21 per Cent, 53/ 1

Bank Stock

Portuguese Regency 5 per Cts. 331 41 Exchequer Bills India Stock 3 I tbs. shot Ditto 3 per Cent.; Russian 5 per Cents 23/ 1 111 112

Spanish (Ae:ive) 241 1