MONEY MARKET.

STOCK P.XCRANOZ, FRIDAY AFTERNOON. The operations i '11 the English funds do not offer any prominent subject for remark ; the busiues I saving been on a very small scale. Money still continues very abundant. The ii:-:ccess which up to this point has attended the. London v,

and Westminster Bainv, has created such demand for their Shares, that the Directors are enabled tL 'ssue the limited number of shares by which, in ac- cordance with the resolut. of the last general meeting, they intend to increase 1,Ji

,,t at a premium of 41. 10s. per share.

the capital of the establish'.

The Dutch Funds have . experienced more fluctuation than usual. The advises received from Acosta Vriani were to the effect, that the Dutch Govern- ment have determined upon re, tixing the Five per Cents. into a Four per Cent. Stock, upon terms which are to be hereafter determined. A decline conse- quently took place in Five per Cc %.7.ts., accompanied by a rise in the Two. and-a half. The former are depressed a bout 2 per cent., but the rise in the latter has not exceeded 1 per cent.

The Russian and Danish Stocks a re nearly at previous quotations.

The Portuguese Securities are also at the prices of last week. The various reports which have s a long been in agitation on the subject of the non-effective state of the Auxilia.".y Legion, and the lamentable picture drawn by the Carlist organs, both in ..ranee and England, of the state of the Constitutional cause in Spain, have pr sduced a considerable depression in Spanish Bonds. The Active Stock is to.c.toy nearly 2 per cent. below the price of last Saturday. The large purchases which have recently been made on Foreign account, have been discontinued due ing the last few days ; and as there has not been any home demand for stock, the prices have consequently declined. The long expected decree for the settlement of the Home Debt was promul- gated at Madrid on the 28th ult. It also coot tins a provision for the conversion of the Foreign Passive Debt, which it is proposed by the decree shall be con vertible into Active Stuck, in six annual portions, so that all of it at present extant will become Active Stock in six years from the 1st October. It is pro- posed to give Active Stock in exchange for Passive, in such proportion that the holder of Passive Stock shall be enabled to realize 25 per cent. in hard money upon the nominal amount of the l'assive Stock con- verted. On the appearance of this document, a rise of 11 per cent. oc- curred in the price of Passive Stock ; but that improvement has not been supported, as, by the advises received from Paris and Madrid, it does not appear that the decree has produced any effect upon the price of Passive Stock in either of those capitals. By the proposed arrangement, the mean time at which the holder of l'assive Stock will be entitled to receive of the Govern- ment Active Stock to the money value of 25 per cent., is three years and a half; and as money if invested in Spanish Active Stock at this moment wilt yield an interest of more than 10 per cent., in calculating the profit offered to the holder of Passive Stock under the present proposition, his capital must be: assumed of like value : the account will then stand thus—

Cost of 1001. Passive Stock, at the present price of 151 £15 10 Interest and compound interest on the same, at 10 per cent , for 31 years, about 5 17 SATURDAY, TWELVE O'CLOCK.

The English Market has been steady during the whole morning, with nothing doing. Spanish Stock has improved 1 per cent.,—a report being prevalent that an eminent capitalist is about to advance 150,0001. upon the security of quicksilver, to be applied to the partial payment of the next dividends. The Railway Shares are nearly at yesterday's prices. Brighton 91 101; ditto Rennie's 2 1; Bristol and Exeter 3 4 ; Birmingham and Gloucester 91 101: ditto and Derby 91 101; Greenwich 111 121 ; Great Western 28 30; North Midland 61 71 ; York ditto 31 41 ; Great North of England 3 1; Southamp- ton 101 II ; South Eastern 41 5; Eastern Counties Oi 11.

SATURDAY, FOUR O'CLOCK.

The Spanish Market has improved ; and, at one period of the afternoon, the price of Active Stock was 44k, but it has since receded, and is now 441. Rumours of successful negotiations for the purpose of raising the amount ne- cessary to meet the dividends due in May next, may be cited as the cause of ;le improvement. The Portuguese Stocks are also higher. The Railway F;hare, have generally been flat ; both the heavier description of Shares,

the morning.

those upon which the smaller payments have been made, close I.,,wer than in 3 per Cent. Consols.... ..... 91} 1 .4 Ditto for Account 911 4 Dutch 21 per Cen. 07.. well as 56 e French 3 per C,,nts _ New 3; per Cent. Annuities 1001 4 Mexican 6 ',aer Cents. 33 34 Bank Stoek 2584 DPoottRurc,, 3

gency 5 per Cent .... 78 *

India Stock — per Cents 481. 9 Exchequer Bills 19 21Pr. Itn°,sian, 1822,o per Cent.... 1081

Belgian 5 per Cents .. . 1034 Spanish. 1834, 5 per Cent .. 44 4 Brazilian 5 per Cents. 87 88 Ditto, Deferred

.. 214 4 Danish 3 per Cents. 77 t Ditto, Passive 15/ t

21 7

Which will produce at the end of the period 25 0

Leaving a profit of £3 13 upon every 100/. Passive Stock purchased at the present price ; provided the conditions of this decree are fulfilled. But it would not appear from the state of the Foreign Markets that there are any very sanguine anticipations on this head, otherwise the price of the Passive Stock would have advanced more considerably. The South American Securities are very heavy. Stock of every current de- scription is daily brought to market ; and sales to any considerable extent are impossible. The Railway Shares, especially those upon which the largest deposits have been paid, have retrograded, in some instances, 51. or 61. per share : but specu. lation is still rife in those enterprises the Parliamentary fate of which is yet undecided ; and the majority of them are in demand, some at higher prices than previously.