MONEY MARKET.
STOCK EXCHANGE, FRIDAY APTEENGON.
The English Funds close rather more firmly than at the commencement of the week; the last quotation of today being as high as any recently reached. Notwithstanding the inclement weather, the price of corn has declined, and there is no present appearance of a drain of gold. Money is consequently extremely abundant, and the rate of commercial discount very low.
In the Foreign Market, some fluctuation has occurred in Mexican Bonds, in consequence of the warlike tenonr of the last intelligence from the Republic; and upon the first promulgation of the news, a decline of more than 2 per cent took place in the Stock, namely, from 36 to 334. When the real nature of the intelligence was known, the market improved to 35; and has since been steady within a trifle of that price. The transactions in the other Foreign Stocks have. been unimportant. The business of the Railway Share Market has been extensive, both in the amount of bargains and in the character of the fluctuations. The settlement of the half-monthly account occurred today; and under the pressure for money thus occasioned, Great Western Shares declined 10/. per Share, and Birmingham were sold for money and repurchased for the end of the month at a sacrifice of 81. per Share; both bargains being effected by the same broker. This decline on these two favourite Shares is the more remarkable, as an increased value had been given to the Great Western by the allotment at par of new Half-shares to the holders of the old Shares; and Birmingham are generally very well held. We believe, how- ever, that some great reaction has occurred in many of the Provincial Share- markets ; and that more than one extensive failure has been the result. Money has consequently been suddenly in demand; and as the markets for both these Shares are very limited, any forced sale must be made at a great sacrifice. Ano- ther reason for the apparent decline of these heavy Shares is to be found in the large stamp-duties payable upon the transfer of them; the duty upon a single share of either of the great lines in question being about 21: so that though the the whole of the 81. above referred to was loss to the operator in question, it was not all profit to the capitalist. Notwithstanding the great plenty of money already noticed, there has been an extraordinary demand for it today at the Stock Exchange; interest at the rate of 351. per cent per annum having been given for advances for short periods upon Railway Shares. It is there- fore needless to say that the markets for these securities are not very thriving, and that all the heavy English Shares are lower. There is a good demand for incest of the French Shares; and those of the Orleans, Tours, and Bordeaux, have risen 11., in consequence of the briskness of the market in Paris. The near approach of the adjudication of the lease for the line of the Great Northern of France has given an increased value to the Shares of all the Companies competing for it; and not only are those of Lafitte's and Rosamel's in request, but those of Le Bend of the North trunk-line; all which will, it is believed, amalgamate upon more or less favourable terms for their separate interests, and there will not actually be any competition for the line. The Belgian Shares are all depressed; those of the Denths Valley having declined to 06 discount. Dutch Rhenish have been at premium. Speculation seems confined in these Foreign lines either to those esta- blished or in which the concession is about to be made; and, though not quite so general, it is almost an extensive as ever.
SATURDAY, Two O'CLOCK.
There is no material change either in the English or Foreign Funds. But few transactions have occurred, in Mexican Bonds; which have not varied materially from the price of yesterday, and have not been done higher than 35h. The busi- ness in Railway Shares has been of a general character. Birmingham are firmer, and are quoted about 51. above the lowest price of yesterday; but Great Western are still heavy. Some transactions have occurred at a slight premium on the Shares of Calon's and the Great Paris and Lyons lines, both of which have long been neglected; and in consequence of their probable reamalgamation with exisiting companies, both are quoted at h premium. We have to notice the following bar- gains in addition to those given in the morning: Aberdeen, 36 6; Birmingham and Gloucester, 133; Cambridge and Lincoln, 36 6; Chester and Holyhead, 22 16 21; Dublin and Galway, 26; Eastern Counties, 20h 196 206; Great Western, 219, ex div.; Croydon, 246 6; South-western, 79 8 9; London and York, 4/ 6 5; Lynn and Ely, 8 76; Manchester and Leeds, 201; Ditto, Half-shares, 90; Midland, 1751; Newcastle and Darlington Junction, 51, ex div.; North Bri- tish, 31; Ditto, blew, 9; Northern and Eastern, 74; Ditto, Quarter-shares, 8; South Wales, 51 6; Waterford and Kilkenny, 26; Great North of France„(La- fitte's,) 66 1; Ditto, (Rosamers,) 3 26; Great Paris and 1.0 .....as, 24; Ehtto, (Calon's,) 26; Namur and Liege, 46 6; Orleans and Bordeaux, 12 116; "Tar;e and Lyons, (Lafitte's,) 31; Sambre and Meuse, 8 71; Tours and Nantes, 2h; Dutch-Rhenish, 8 7/ 8h; Luxemburg, 21 h.
3 per Cent Consols Ditto for Account 3 per Cent Reduced— 31 per cents
Long Annuities Bank Stock Exchequer Bills India Stock
Brazilian 5 per Cents Belgian 44 per Cents Claim 6 per Cents
Prem.
991 1 991 i 334 i 1021 4
11 7-164 210 1 49 51 270 88 90 100 1 100 2 Columbian ex Venezuela • • • Danish 3 per Cents Dutch 21 per Cents. .ex div Ditto 4 per Cents Mexican 5 per Cents Ditto Deferred' Portuguese New 5 p. Cts. 1841 Ditto 4 per Cents 1845 Russian 5 per Cents Spanish (Active) 5 per Cents Ditto 3 per Cents 1842
18719018 8
631 100 1 351 191 641 51 64 5 117 19 264 7 3844
SATURDAY, TKELYR O'CLOCK. We have no material change in either English or Foreign Stocks. Some in- quiry has arisen for Mexican Bonds, in consequence of the intelligence from Ame- rica; but we cannot learn that any business has occurred. The transactions in Railway Shares are unimportant, and we can only as yet notice the occurrence of the following: Croydon, 24; Paris and Lyons, (Gannexons), 21; Ditto, liainguer- loes, 211; Luxemburg, 26.
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