10 MARCH 1838, Page 13



The firm appearance which the Morley Market recently exhibited has ripe- rienced a change, and the promised rise in public Securities a check, from the unsettled state of the American exchange, which continued to decline at the receipt of the last advices from New York. The English Funds generally have twice fallen about >i per cent. in the course of the week ; and on each occasion have reacted nearly the whole extent of the depression, being to-day nearly at the quotations of last week. Money, however, still continues very abundant; sad the premium upon India Bonds and Exchequer Bills has remained steady between 62 and 64. In the Foreign Market, Dutch Bonds have declined about >4 per cent., to improve again to within a shade of the point from which the depression coin. meneed. This decline is attributable to another issue of Five per Cecil» Stock having been determined OD by the Dutch Government, to the eztent of 34,000,000 guilders, or 2,600,0001. sterling: the greater portion of this is stated to be for the purpose of constructing railways, but a trifling sum being requisite to cover the financial deficit.

The other European Stocks are in demand at slightly advanced prices.

Brazilian Bonds have fallen about I per cent. ; the last advice. from Bahia representing the insurgents as still holding out, though much pressed by the blockade.

The other South American Stocks have been in demand ; Columbian Bonds have been as high as 301 ; but this quotation has not been supported, and the price is to-day 29. Mexican Bonds, which have been at 30, have also tallest to 29.

Spanish Stock has experienced a considerable improvement ; and the market has assumed a more animated appearance than for some time. It has long been rumoured, that the present Ministry were about to contract a new Loan ; and the recent jimmies of Mr. ROTHSCHILD to Madrid, and of Mr. RICA Imo to Paris, are supposed to have reference to these negotiations. The sew Loan is reported to be for 200,000.000 reels, or 2,000,0001. sterling ; secured upon the revenues of Cuba. Tne Foreign Active Debt now in circulation to be consoli- dated to one-third of its nominal amount, which is to bear interest at 5 per cent. The remaining two-thirds to be couverted into a debt without interest, which is to be exclusively admitted in payments for purchases of waste and un- cultivated lands in Spain. The Passive and Deferred Debt is to be come& dated to 1 10th. The remaining 9 10ths are to merge into certificates bearing no interest, admissable for the purchase of lands which the Government are to put up for public bidding. twice yearly. The price of Active Stock has been as high as 205 ; but it is to-day about 1 per cent. lower. The last adyices from Lisbon being more favourable than those which we have for some time been receiving from Portugal, all descriptions of Portuguese Bonds are current at improved prices. The Regency Five per Cents. have improved nearly 2 per cent., having been done at 30; the Three per Cents. about in the same proportion ; while the Five per Cents. (1837) may be quoted about 3 per cent. higher. These remarks apply to the quotations of %does. day and yesterday, on which days there appeared a disposition to purchase both Spanish and Portuguese Securities; but the feeling seems to have abated netlay, and prices consequently are not .o well supported. The Railway Shares are generally lower ; the decline having been from 1/. to 41. per share. (The Southampton, however, are about 21. higher.) The depression is, we believe, solely attributable to the altered state of the Lanca- shire markets, where a decline to nearly a similar extent has occurred.


The usual monthly publication of the Liabilities and Assets of the Rusk of England has been made public ; according to which, it appears that there is an increase of 472,0001. in the amount of bullion. The English Funds are consequently firmer, and the quotations are A higher than yesterday. la

the Foreign Market, there is little alteration ; Spanish Stock is firmer. The South America's Stocks are also without variation ; Mexican Six per

Cents. 29 to i ; Columbian 281 29i ; Market is also the same : London and ampton 5 to 3 din. ; Greenwich 18 prem. prem.; Brighton 4 prem.

3 per Cent. Consols 93k *

Ditto for Account 93k 1 3 per Cent. Reduced ';hut New 34 per Cent. Anus 1001 1 Bank Stuck Shut ludiaStock Shut Ditto Bonds 62 64pr Exchequer Hills 62 61 Belgian Spec Cents 103/ Peruvian 20 21. The Railway Share

Birmingham 81 to 83 prem. ; Sotith• per Sham; Great Western 26 28 Brazilian 5 per Cents 75

Danish . 75 Dutch 21 per Cents 521 31 Portnettese Regency 5 p. Cts 29 91 Ditto 3 per Cent. 19i I Russian (1822) 5 per Cent ...Ile* Ill Spanish (18351 5 per Cent... I'll 20 Deferred Stork 71 A Passive Ditto . 41 k