9 JANUARY 1841, Page 9


The Funds were languid at the commencement of the week ; and on Mon- day and Tuesday Consols for Account were as low as 89, with an appearance of a decline. This heaviness was doubtless occasioned by the unsatisfactory state of the revenue ; which, though not officially declared till Wednesday, became partially known in the City in the course of Tuesday. The arrival of the overland mail, bringing intelligence of the virtual close of the war in China and North-western India, completely changed the appearance of things; and on Wednesday morning Consols for Account were at an advance of 1 per cent. upon the closing prices of the previous day, and rose still further in the course of the afternoon, closing at 891, being an improvement in the gross to the extent of / per cent. A reaction of nearly / per cent. occurred yesterday ; a report being prevalent that the Government despatches were not of so favourable a nature as the accounts previously received ; but the market has again resumed its tone to-day, and the closing price of Consols for Money and Account is 89 All the Stocks, the dividends upon which have become due, opened on Wednesday for private transfer ; and, as is usually the ease, the public have largely invested their dividends. All sorts of Stock are consequently in demand. Reduced Three per Cents. have been as high as 901, and new Three- and-a-half per Cents. bare advanced to 981. India Stock has been very favourably affected by the recent intelligence, and is to-day quoted at 244 ex dividend, being an advance of nearly 6 per cent in the last few days. Bank Stock has also advanced in nearly a similar degree, and is to day at 164. Money is less in demand, in consequence of the issue of Dividends; and this circumstance, in addition to the belief in the course of the year that an extensive funding will take place, has causad a rise in the premium upon Exchequer Bills, which is to-day at 13s. Although the intelligence from China has produced a favourable effect upon the prices of Public Securities, it has caused a considerable decline in the price of tea; Company's Congous, which are the speculative teas, being 8d. the pound lower than on the receipt of the Indian intelligence. Other varieties are lower, and the average depression may be stated at Cul.; occasioning a loss to the holders of the stock in hand of nearly 800,0001.

The following notice appeared in the Gazette on Tuesday last; by which it will be seen that there are no present funds available for the reduction of the National Debt.

" The Lords Commissioners of her Majesty's Treasury having certified to the Com- missioners for the reduction of the National Debt, in pursuance of the Act 10th George 1V. cap. 27, sec. l, that the actual expenditure of the Dolled Kingdom of Great Britain and Ireland exceeded the actual revenue thereof fur the year ended the 10th day of Oc- tober 1840. by the sum of 1,560.6901. 10s. Sid.. " The Commissionersfor the Reduction of the National Debt hereby give notice. that no sum will be applied by them on account the Sinking-fund under the provi- sions of the said Act between the 7th day of January and the 5th day of April 1841. " S. HIGHAil, Comptroller. General. " National Debt (Me, 5th January 1811."

There have been but few transactions in the Foreign Exchanges, either on Tuesday or this afternoon ; and the rates are generally without material varia- tion.

In the Foreign Market, the improvement in the English Funds has given firmness to the Dividend-paying European Stocks; some of which, especially Dutch Two-and-a-half per Cents., were previously heavy. These latter secu- rities have consequently advanced about / per cent.; there have not, however, been any transactions of importance in them.

The delay of the usual Lisbon mail, which has been retarded by an accident to the machinery of the steam-vessel by which it should have been conveyed, has deprived the speculators in Portuguese Stock of their usual stimulus; and the transactions and fluctuations in that description of security have been but trilling. The French mails have also been delayed by a heavy fall of snow that has occurred, blocking up the roads in France ; and the mail that left Paris on the 6th, and should have arrived in course this morning, was not received till late in the afternoon. The overland Indian mail has also been delayed from the same cause ; and though the newspapers were enabled to receive their ex- presses from Marseilles on Wednesday, morning, the mail did not arrive till this afternoon, and that at so late an hour that it is not possible that more than a partial delivery of the letters can take place to-day. Spanish Active Stock has given way, and has to-day been 1 per cent, lower than the highest quotation of last week, baying been done at 24j: several buyers have since appeared, awl an improvement of a per cent. has been the consequence. The price of the Local Stock has fallen at Madrid ; and to this circumstance, and the report that ESFARTEIto has resigned the Regency, the i heaviness of the market s attributed. A decree has been published by the Regency, to the terms of which we alluded last week, permitting the con- version of the Foreign Active Debt into bonds of the Home Debt ; and the Regency seem to pursue their financial reforms in a determined and honest spirit. The transactions in South American securities have been but few. These Stocks were heavy, but are rather firmer since Wednesday ; the rise in the English Funds, and favourable change in the value of money, having encou- raged the speculators. As is usually the case when there is any rise in Consols, the Railway Shares have been generally in demand, and some of the larger varieties have risen from 2/. to 3/. per Share : but a reaction has occurred, and the current varieties are to-day in demand at prices a little in advance of those of last week.


The usual monthly statement of the Liabilities and Assets of the Bank of England has been published : as compared with the last publication' there is an increase in every item but in that of Circulation : the Deposits have in- creased 712,000/., the Securities have increased 288,0004 and the Bullion 46,0004 while the Circulation has been diminished by 334,000/. The French mail of Thursday has just arrived: there was an improvement in the French Funds on that day, the closing price of the Five per Cents. being 77. 55. Spanish Active Stock was lower, viz. 241. We have very little business this morning, and prices are the same as yesterday. Spanish Active is / lower,

Fining in consequence of the decline in Paris. The other Funds, both /Eseeign and English, are at yesterday's prices. SATURDAY, FOUR O'CLOCX•

-Very little business has occurred during the aft,rnoon, and the prices of 'the English Funds are the same as in the morning. Spanish Active has been Sti 4, but closes at 24i 1. The South American Securities are heavy at previous quotations. The other Foreign Funds without variation.

3 ver Cent. Consols

891 I Belgian 5 per Cents.

974 Pi

Ditto for Account

893 1

Colombian 6 per Cents 234 44 3 per Cent. Reduced 904

Danish 3 per Gents 774 144

34 per Cent. Ditto 984 1 Dutch 24 ter Cents 534 4 New 34 per Cents 98 4 Mexican 5 per Cents. Cults& ::.131 94 Bank Stock 103 4 Portuguese Regency Over Cis. :2 f . Exchequer Bills

9 pm.

Ditto a per Cents

10 4

India Stock for Account 244

Russian 5 per Cents.

1124 134 Brazilian 5 per Cents 704 14

Spanish (Active) 244 4