12 JANUARY 1850, Page 9



The principal feature in the English Stock Market has been the great pro- portional improvement in Three-and-a-quarter per Cents as compared with the other descriptions of Stock. The price has risen to par, and tor the last few days has fluctuated between 994 and 100. This extraordinary advance originates in the general belief that one of the financial measures of the next session will be a reduction of the interest upon the Three per Cent Stocks. As the interest upon the Three-and-a-quarter per Cents cannot be reduced below 3 per cent till 1884, their market value is enhanced by the possibility of the reduction of the others. The fluctuation of Consols has not exceeded per cent, the range having been from 974 to 971 ; and the closin? quota- tion this afternoon is 9741. Bank Stock has been at 209, and is this after- noon 207 to 208. India Stock is quoted at 265, it Long Annuities at 8 11-16, or 81. 13s. 9d. for 11. annuity. Hence it would appear that all Stocks which will not come within the operation of the presumed reduction of interest are in demand.

The surplus of the income of Great Britain over the expenditure for the year ending 10th October 1849 was 1,211,8451. 58. Of this sum, one-fourth —namely. 302,9611.6g. 3d.—will be applicable to the purposes of the Sinking- fund during the three months ending the 10th April next. To which must be added, the interest upon donations and bequests, 3,787/. 3s. 10d. ; making a total of 306,748/. 10s. Id. applicable to the reduction of the Debt during the current !punier. The purchases of the Government Broker on account of the Sinking-fund commenced on Tuesday, and have since been of daily occurrence.

The Foreign Market does not exhibit any feature of importance. Peruvian had fallen from 64 to 62 and 63; and was rather flat till just before the close of business this afternoon, when some purchases occurred, and the closing quotation is 65 to 66. There seems but little doing in the other South American Stocks. Mexican Bonds were in demand till yesterday at an ad- vance of from 4 to per cent upon our last prices • but gave way., and are today flat, closing at 294 4. No payment has yet been made of the balance due upon the partially-paid Coupon of January 1847. Spanish and Portu- guese Bonds have been steady, without any important business. Some rather large transactions have occurred in the stock of the New Danish Five per Cent Loan ; which has been done at 994 and 1004, being an advance of from 1 to 2 per cent upon recent prices. The Share Market is firmer • the advance upon the principal lines since our last being from 11. to 2/. Nothing is positively known as to the dividends that will be said upon the larger shares for the half-year just ended ; but, except in the case of the North-western, where a decline of 4 per cent IS anticipated, the prevailing opinion appears to be that no very large reduc-, tions will be made.


The opening price of Consols was 974; but the market was heavy, and the quotation speedily fell to 964, to ralry again to the opening price. There seems evidently a disposition to sell Stock, notwithstanding the improvement of the French Funds yesterday in Paris. This feeling is doubtless induced by the approaching settlement of the Account, when many of the weaker spe- culators will be compelled to bring stock to market. There is no change of consequence in the Foreign Market. Railway Shares are steady with an ap- pearance of firmness.

SATURDAY Two o'cr.oez.

The English Funds have entirely recovered the depression of the morning ; the closing price of Consols being 974 4. The business transacted has been of a general but not important character. In the Foreign Market prices are without material change. Peruvian Stock continues in demand, but without improvement in the price. The following are the principal bargains re- corded—Brazilian, 89; 89 ; Danish Three per Cents, 72 3 ; Grenada, 164; Mexican, 294 4; Peruvian, 654 44; Deferred, 214 224; Portuguese Three per Cents, 314; Ditto Four per Cents, 364; Spanish Active, 19*; Ditto Coupons, 94; Ditto Three per Cents, 37# ; Venezuela Deferred, 10 ; Dutch Four per Cents, 8 4. Share Market has been in a very buoyant state, and almost all the cur- rent varieties are at an improvement upon the quotations of yesterday. The dividend upon the North-western is expected tohe from 54 to 6 per cent. The following are the principal transactions—Aberdeen, 114, Ambergate, Notts, and Boston, 4, Birmingham and Oxford Junction, 26; Caledonian, 114 4 ; Ditto Preference, 84 4 a ; Chester and Holyhead, Preference, 94 ; Eastern Counties, 74; Ditto Preference 114; Great Northern, n i 8; Great Western, 62 34 1 2 ; Ditto Quarter-shares, 14; Ditto Fifths, 12; Mull and Selby, 99 100 ; London, Brighton, and South Coast, 814; London and North- western, 114 134 144 15; Ditto New, Quarter-shares, 134 4; London and

South-western, ; Midland, 454 44 6 ; Ditto 501. Shares, 74 84 i North British, 11 ; Ditto alf-shares, 4/ ; Ditto Quarter-shares, 24; Scottish Cen- tral, 1 South-eastern and Dover, 19 4 ; York, Newcastle, and Berwick

174 4 ; York and North Midland, 18; tto Preference, 64; Boulogne an Amiens, 74 ; Central of France, (Orleans and Vierzon,) 14; Namur and Liege, 8; Orleans and Bordeaux, 34 4 ; Paris and Rouen, 23.

31 per Cents

3 per Cent Reduced 9781 Dutch 26 per Cents 554 8 97 86 87 Danish 3 per Cents Ditto 4 per Cents 72 4 Ditto for Account 97 3 per Cent Consols Mexican 5 per Cents 1846... 296 Long Annuities 8 1-16 Peruvian 8 per Cents I Bank Stock 2076 86 Portuguese 4 per Cents 1842. glt 6t

Exchequer Bills 58 61 pm. Portuguese 5 per Cents 1824. 82 4

India Stock 285 267 Russian 5 per Cents 110 111 Brazilian 5 per Cents 88 9 Spanish (Active) 5 per Cents. 196 i Belgian 46 per Cents 88 9 Ditto 3 per Cents 1842 87 6

Chilian 6 per Cents 98 100 Venezuela 28 So

Danish 5 per Cents 100 102