MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The principal feature of the week in the English Stock Market has been the settlement of the Consol Account, which occurred yesterday. The operations which had been undertaken for a fall had the effect of rendering stock very scarce; and this, in conjunction with the great plenty of money, has caused a rise of per cent in the Three per Cents Reduced and Three per Cent Consols. The quotation of both of these stocks has been today at 4 per cent above the prices of last week; and though the market has given way slightly in the course of the morning, it closes within of the highest price. We should he inclined to refer the rise almost entirely to difficulty which the speculators for the fall have experienced in procuring stock for delivery, as the improve- ment has been almost entirely confined to the Three per Cent or Speculative Stocks, where it has been, as already stated, from j to i per cent ; while Three- and-a-half per Cents, viz. the New and Reduced, are today at precisely the same quotations they were on Saturday last, and have not during the whole week shown the least symptom of improvement.. It should, however, be re- marked, that there is not at present the same inducement to invest in these stocks, when the price is near to 100, as at lower quotations, as both are now subject to be paid off at par whenever the Government can find the means. There is certainly no immediate prospect of such a contingency, yet the chance of it must tend to keep down the prices of the stocks in question. The pre- mium upon Exchequer Bills has improved, and is at 393. to 418. Bank Stock has been without any change of importance. We cannot quote any transac- tions in India Stock. It is remarkable, that since the last intelligence re. ceived from India, but one bargain has occurred in this security. In the Foreign Market, there has been an extraordinary rise on the value of Buenos Ayres and Peruvian Bonds ; the former having reached 304, being an improvement of nearly 6 per cent since our last report, and the latter having been done at 21, markinfi a rise of about half that extent. There is a report that arrangements are in progress for liquidating the over-due dividends, amounting to 90/. per cent upon the Buenos Ayres debt ; but we need hardly say that it receives no credit. The recent improvement in all the South Ame- rican Bonds must of necessity have directed the attention of speculative capi- talists to this description of security ; and both the Buenos Ayres and Peru- vian loans are so small in extent, that it is an easy matter to produce the im- provement already noted as having occurred in each of them, by the invest- ment of comparatively small sums of money. It does not therefore follow that the present rise is the result of any beneficial alteration in the financial situation of the countries themselves, or of any real improvement in the pros- pects of the Bondholders. The other South American funds are rather firmer: Mexican have maintained the recent quotations, but we cannot notice any important transactions in either. The Northern European Stocks are without material variation. Spanish Active is lower, being today about 4 per cent worse than our last. The new Three per Cent Stock seems to be the favourite with the speculators: it is this afternoon more than 1 per cent higher than the Five per Cents. Portuguese Bonds are without material alteration.

The Railway Shares are generally firmer, Great Western and South-eastern and Dover have improved from I/. to 2/. per Share. There has been a consi- derable amount of business in the others, but no large transactions have oc- curred in any of them ; and the improvement seems principally occasioned by the plenty of money and general disposition for investment.

SATURDAY, TWELVE O'CLOCK.

The English Funds have given way this morning, and are at present from to * per cent below the closing prices of yesterday. There have not been any extensive sales to cause the depression, which may be fairly attributed to the ordinary reaction of the market after the great rise in price recently experi- enced: Exchequer Bills continue the same.

In the Foreign Market Spanish Active has given way, and after being at

244 is now 24,1 The Three per Cents have also fallen in about the same proportion, but maintain their relative position, being still 1 per cent in ad- vance of the Five per Cents. The speculation in Peruvian and Buenos Ayres seems to have received a check ; both these Stocks being about 1 per cent lower; the former 19 to 20, and the latter 28 to 29. The South American Funds are generally heavy. Mexican are now quoted without the debentures into which the overdue Coupons have been converted, and as these debentures are sold separately at 25 per cent, the present quotation of Mexican Stock at 38 to 4 is equal to one with the debentures of 404 41. The other Foreign Funds are without material variation.

No business of importance has occurred in the Railway Shares.

SATURDAY. FOUR O'CLOCK.

The English Funds close more firmly than in the morning ; the closing quotations are the same as those of yesterday. Consols for Money are 914 *, and for Account 9114. India Stock has been done at 241 2434, and lastly at 242. In the Foreign Market, the price of' Spanish Stock is 4 higher, the Active being 244 1, and the Three per Cents 254 I. Buenos Ayres has been done at 26, and closes at 27; and Peruvian, after being at 191, closes at 20. The other South American have been depressed, but have rallied again. We have to notice the following transactions in Railway Shares—Edinburgh and Glasgow, 36k; South-western, 601; Midland Counties, 421; South- eastern, 30*; York and North Midland (New Shares,) 33.

3 per Cent. Consols Ditto for Account 3 per Cent Reduced 919 * 919 * 901 9 Columbian 6 per Cents Danish 3 per Cents Dutch 24 per Cents 279 9

80 81 52i 9

39 per Cent Ditto 99k * Mexican 5 per Cents Consd . 38 * New 39 per Cents 100* } Portuguese Regency 5 perCts.

26* 7

Bank Stock 1659 6 Ditto New 5 per Cents 1841. 30g* Exchequer Bills 39 41 pin. Ditto 3 per Cents 21 9 ludia Stock 242 3 Russian 5 per Cents 112 113 Brazilian 5 per Cents 67 8 Spauish (Active) 24* I Belgian 5 per Cents

:03 4 The monthly return of the average circulation of the Bank of England, Private, and Joint Stock Banks, for the four weeks ending the 2d instant, is published in the Gazette of last night. As compared with the last return, there is a decrease in the total Circulation of 577,2481.; of which 220,0001. is in that of the Bank of England, 10,405/. in that of the Private Banks, 140,819/. in that of Scotland, 114,625/. in that of the Bank of Ireland, and 148,0691. in that of the Irish Private and Joint Stock Banks : on the other hand, there has been an increase of 56,670/. in the circulation of the English Joint Stock Banks. The amount of Bullion in the Bank has increased 725,000/, since the last return, and is now 7,006,000/. The continued decrease of the circulation is a proof of universal want of trade ; while the fact of the decline of that of the Bank of England must be taken as evidence of the necessity that existed for the recent reduction of the rate of discount from 5 to 4 per cent.