MONEY MARKET.
STOCK EXCHANGE, FRTDAY AFTERNOON.
The demand for money has operated unfavourably upon the price of the Funds, and the Consul Market has been for some days in a depressed state. The pressure has been considerably mitigated by the postponement by the Bank of the repayment of all the loans recently made by it, at the option of the borrower, to the 20th November. A notice has also appeared from the Directors, that they are willing to make the approaching payment upon the Omnium of the West Indian Indemnity Loan upon the deposit of the receipts. It is anticipated that the distress will continue during the whole of next week ; as, although the issue of money consequent upon the payment of the Dividends will be a material relief, its effect will be in a great degree counteracted by that of the payment upon the West Indian Loan, which falls due in the course of the next week, and which will cause a large temporary absorption of capital. Among other causes for the non-abundance of money, it must not be forgotten
that considerable sums are withdrawn from other employments, to be invested in the prosecution and completion of the various railroads now under con- struction in many parts of the kingdom. It is calculated that the amount required for the completion of the projects of this nature, at present contem- plated, will exceed fifty millions ; and as some part of that amount must have been already applied in furtherance of these enterprises, it is not surprising that
such a withdrawal of capital should at this particular period of the year be severely felt. It is to be regretted that this mode of investment had not been recurred to previous to the Mining speculations in 1825, when the millions which have been unavailably sunk beyond the Atlantic might have been re- served for the improvement of our internal communications. In the Foreign Market, the improved political prospects of Spain have pro- duced a corresponding effect upon the price of the Bonds of the Government ; and the market for these securities has evinced more buoyancy than usual.
The large amount of the stock which is held upon speculation, and the diffi- culty experienced by the speculators in carrying over their accounts, have tended, and will always tend, to check the improvement of the prices. With
the establishment, however, of the Government of M. MENDIZA HAL, which by its liberal course of policy will put an end to one of the sources of discon- tent and disunion which have hitherto operated upon a large portion of the empire, hopes for the reestablishment of the Peninsula may be fairly indulged ; and the restoration of political may be fairly expected to produce financial order. The European Continental Stocks have slightly improved.
The Railroad Shares are still in demand, some of them at higher prices.
South American Bonds are in little request ; and the Mining Shares do not evince any symptoms of recovery from the torpor under which they have so long suffered. SATURDAY, TWELVE O'CLOCK.
The operations of the morning have been on too limited a scale to afford any scope for remarks. The English Funds are at yesterday's prices. The ap- proaching settlement presses severely upon the speculators in Spanish Stock; the price of which is 1 per cent. lower than yesterday-43i. The Railroad Shares are still in request-London and Birmingham at 48 to 50 prem. ; Lon- don and Greenwich at 9 to 10 prom.; and Great Western at 6i prem.
SATURDAY, FOUR O'CLOCK.
The Consol Market is rather firmer ; the closing price for Account being 904 a, and that for November 91i g. The Spanish -Market has participated in the improvement of the English Funds, and Cortes Bonds may now be quoted about 3 per cent. higher than in the morning-viz. 444. The variation in the other descripticn of securities have not been of importance, and the busi- ness of the afternoon has been trifling. 3 rer Cent. Consols 901 1 Dutch 21 per Cents. 544 1
Ditto for Account 90i I Frenc113 per Cents — New 31 per Cent. Annuities 981 9 Greek, 1825. 5 per Cents — Bank Stock Mexican 6 per Cents. 38k
Exchequer Bills 14 6 pm. Portuguese 3 per Cents 57i 1 Omni= — Do. Regency 5 per Cent 8748
Belgian 5 per Cents ..... .. 1024 Russian, 1822. 5 per Cent 1074 Brazilian a per Cents. ex. div 851 Spanish. 1821, 5 per Cent 434
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