MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFKERNOON.

The settlement of the Consol Account, yesterday, gave an appearance of ac. tivity to the market, which was not borne out by the actual state of business. The delivery of Stock was rather larger than had been expected, and therefore no scarcity of Consols was observable; the price for Money being from 4 to 4 per cent lower than that for the September Account. A considerable amount of Con- sols was delivered on behalf of one of the Scotch Banks, and also by the Bank Broker: the latter took a very large quantity of Three-and-a-quarter per Cents, and Consols' were plentiful, while Three-and-a-quarter per Cents were in demand. Till today, the fluctuation of Consols had been between 864 and 87. A decline of per cent occurred in the course of this morning; the price fell to 86; and, after fluctuating during the latter part of the day between 86 and 864, the last price for Account is 854 86, the lowest of the day. This decline is chiefly ascribed to fears entertained for the result of the harvest. Hence, the rates of exchange upon Holland and the North of Europe continue to decline slowly, in consequence of the demand for bills, occasioned by the increasing prevalence of an opinion that in the course of the year an importation of foreign grain will occur. An- other cause for the adverse appearance of the foreign exchanges is to be found in the excess of our imports over our exports: Daring the past six months, the ba- lance against us is nearly 4,000,0001.; which, unless liquidated by an increased activity in the export trade, must i be provided for by payment in bullion.

The transactions of importance in the Foreign Market have been very few. Some slight impulse has been given to Spanish Bonds, by the reported accession of Signor Mon to the office of Minister of Finance. The nominal quotations of both Active and Three per Cent Stock are consequently today about 1 per cent higher than yesterday: the actual transactions, however, have been but trifling. The principal feature in the Railway Market has been the decline of London and North-western Shares; which have been heavy during the whole week, and today are marked as low as 120,—indicating a fall of more than 61. This depreciation has been occasioned by a report that at the general meeting of the shareholders to be held tomorrow, the directors will not be able to propose a greater dividend for the half-year just ended than 34 per cent. It is further stated, that this reduced rate of dividend can only be provided by encroaching to the extent of 36,0001. upon the reserve of 50,3911. remaining after the payment of the last dividend. The dividends on this splendid undertaking, which in 1846 were 10 per cent, fell in the first half-year of 1847 to 9 per cent, in the second half-year to 8 per cent, and now in the first half-year of 1848 will decline to 7 per cent: a resultwhich has been long foreseen, and for which the readers of this journal cannot be unprepared. The other Railway Shares are all heavy; Midland having declined about 31., and being today marked at 99, or 1 discount. Great Western are at 85, or 51. dis- count The smaller lines all lower, and in disrepute. The accounts of the Bank of England, for the week ending the 5th August, exhibit when compared with those of the preceding week the following results-

BASKIN.) DEPARTMENT. Increase. - • Decrease.

Rest Public Deposits £92,596 585,225

Other Deposits

4867,169 Seven-day and other Bills

7,421

Government Securities, Including Dead-weight

60,000 Other Securities

75,554 Notes unissued

120,790 Actual Circulation

252,235

LUCE DEPARTMENT.

Notes issued

373,025 Bullion

313.450

This week.

Last week.

Total Bullion in both Departments 13,396,654 13,710,104 Actual Circulation 18,692,116 18,944,350

SATURDAY, TWELVE O'CLOCK.

The first price of Consols for Account was 861; but with the commencement of business a general djeposition to seihbecame apparent, and a decline to 851 has consequently occurred; the present quotations are 854 * for Money and 851 4 for Account. The only change in the Foreign Market is in Spanish Bonds, the nominal quotations of which, in consequence of an improvement in Madrid, are about 4 per cent higher; the transactions in them are, however, but trifling. The Railway Market is without any indication of improvement; the following are the only bargains as'yet recorded: Edinburgh and Glasgow, Half-shares, 9; Great Northern, 54; Leeds and Bradford, 91; North-western, 119; Midland, 99.

3 per Cent Consols 854f Danish 3 per Cents 65 7 Ditto for Account 85 Dutch 21 per Cents 42/ 31 3 per Cent Reduced 854 1 Ditto 4 per Cents 68 70 31 per Cents 861 4. Mexican 5 per Cents 1846... 161 171 Long Annuities New Grenada 11/ 121 Bank Stock 197 9 Portuguese N. 4 per Cents 1842 171 181 Exchequer Bills 32 36 preen. Portuguese Old 1824 64 6 India Stock Russian 5 per Cents 98 100 Brazilian 5 per Cents 68 70 Spanish (Active) 5 per Cents 111 12/ Belgian 41 per Cents 66 9 Ditto 3 per Cents 1842 211 21

Buenos Ayres 20 2 Venezuela 15 16

Obilisn 6 per Cents 83 6