7 DECEMBER 1861, Page 6

MONEY MARKET.

STOCK EXCHANGE, FRIDAY EVENING.

THE Money Market during the week has been exceedingly quiet, and the rate for the best short bills has not exceeded 24 per cent. Long- dated paper, however, is not readily taken, and in many quarters as much as 4 per cent. or more is required. Owing to the American question, there is an indisposition to enter into any lengthened en- gagements. On the Stock Exchange money continues very easy, loans on Government Securities being easily obtained at 14 per cent.

The anticipation of a rupture with the Northern States of America has had a very prejudicial effect on the Stock Markets, and a general decline has taken place. Consols have fallen 2 per cent., the present prices being 891 to 894 for Money and 90 to 90} for the 9th of January. At one period of the day the quotations were even an eighth lower.

Other Government securities have also receded, especially Indian Five per Cents, which are quoted 101, 4, ex dividend.

The Rupee paper notes have likewise been very heavy, some rather large speculative operations for an advance in these descriptions having been closed. Exchequer Bills are exceptionally firm, being in- fluenced by the abundance of money in the Discount Market.

Foreign Stocks have been flat, and in some cases have sustained a se- vere fall, particularly Turkish Six per Cents, Mexican, Venezuela, and other speculative descriptions. Brazilian, Russian, Dutch, and the like, however, remain steady, being held for investment, and only small quantities coming upon the market. The amount of business that has been transacted during the week has not been large, and the tendency this afternoon was decidedly unfavourable.

The Railway Market has been seriously affected by the American news, and the probable interruption to trade by the outbreak of a war. The lines in the manufacturing districts have been chiefly depressed. Caledonian and South-Eastern have also fallen considerably. Great Northern remains the steadiest in the market.

Colonial and foreign descriptions have also been heavy, and in nearly every case show a decline. American securities in particular exhibit an important reduction.

In the Miscellaneous department the principal feature is a fall in Crystal Palace stock. The directors have announced that the dividend to be proposed at the ensuing meeting will be at the rate of 2 per cent. per annum, leaving a reserve of rather more than 10,0001.

The debentures issued by the Canadian, Nova Scotia, New Bruns- wick, and Australian Governments have been pressed for sale, and have experienced a further considerable fall.

The imports of specie this week have been moderate, comprising 44,6001. from Brazil, 58191. from Alexandria, and some small amounts of silver from the Continent. The exports consist of 56,6421. to can, therefore, be made under the guarantee. America, 10,7001. to the West Indies, and 129,20S/. to India and China. There were no operations in gold at the Bank to-day.

The Ottoman Railway Company has received a telegram from Con- stantinople, announcing that the Ottoman Government has accepted the line from Smyrna to Kosbounar, on the same terms as the first section. A call