MONEY MARKET.

STOCK EXCHANGE, FEIDAY AFTERNOON.

The resolution adopted by the Directors of the Bank of England at their meeting yesterday, to raise their minimum rate of discount to 31, per cent, al- though not entirely unexpected, produced a decided revulsion in the Government and other Securities. Consols, which had declined during the early part of the week, fell 1 per cent when this resolution became known. Some fluctuation has since occurred; and the closing quotation of this afternoon, although 1 per cent above the lowest price, indicates a fall of 1 per cent from our last prices. The character of the operations has been the same as last week; the sales having been of very influential character, and by the same parties. It is now generally 'believed that the Government will have recourse to a loan, and that these sales are by capitalists, making ready to bid for it. The premium of Exchequer Bills has declined 5s.; today's quotation being from 58. to 9s. premium. Bank Stock has improved to 2061. Any increase in the value of money, by rendering the capital of the Bank more productive, has a tendency to increase the value of its Stock: should any general decline in prices occur, it is clear that Bank Stock must, though perhaps to a limited extent, participate in the movement. The foreign exchanges still continue to decline, and the rate upon Hamburg is at present lower than it has been for some years. The assistance afforded to the

Bank of France has not been sufficient to place its affairs on a secure footing, and a larger export of bullion from England will be required. In the Foreign Market, prices of every description of security have declined; though the transactions have been on too limited a scale to require or afford scope for special remark. The markets for Portuguese and Spanish Stock have not escaped the operation of the general depression. The price of Portuguese Bonds has declined 3 per cent, and that of Spanish Stock about 1 per cent. The sales of the former have been large comparatively.

Railway Shares are generally lower. The quotations of some of the better class are supported by the difficulty in which the dealers are placed of providing them for immediate delivery. The small number of bargains occurring consequently are concluded at high rates; but the prices thus realized could not be obtained for any large amount of shares. The decline is chiefly observable in the railways now in progress upon which payments are becoming due. The recent measure of the Bank, by rendering it more difficult to borrow upon this description of security, has tended to aggravate the pressure already operating to as dis- advantage.

The Foreign Shares are all lower. Some large sales of Paris and Lyons Shares have forced the price down to 1 discount. The sales of every description of French Shares have been extensive; and it is reported that intelligence has been received from Paris by express that the Directors of the Bank of France have raised their rate of discount to 5 per cent. It is hence inferred that a great decline in prices would occur in that city, and the possessors of the information have made sales here in anticipation of that occurrence.

SATURDAY, TWELVE O'CLOCK.

The transactions of the English Market have as yet been few; the attention of the brokers and jobbers being directed to the settlement of the differences arising out of the Comet Account of yesterday. At the commencement of business there was a tendency to improvement; Consols for Money being marked at 924, and for Account at 921. An evident and general desire to sell was then manifested, and the price has again fallen to 921 for Account, and 924 for Money. No material change has occurred in the Foreign Bonds; which are all nominally at yesterday's prices. The Railway Market is in some cases firmer. A demand, though limited, appears to have arisen for Irish Sham), in consequence of the belief that the Go- vernment will make a general advance of money for their completion; if this feel- ing should become prevalent, a much better tone will be imparted to this class of Railway Stock. With these, and one or two other exceptions, the appearance is still heavy, and the prospect gloomy. There is no material change or business of importance in the French Shares. The following are the only bargains as yet re- corded in the official list: Ambergate, Notts, and Boston, 21; Birmingham and Oxford Junction (51. paid), 141; Caledonian, 271; Eastern Counties, 224; Ditto, York Extension, 34; London and South-western, New, 26; Ditto, Tenths, 51; Manchester and Southampton; 11; Midland, 126; North British, 341; North Staffordshire. 81; Shrewsbury and Birmingham, class A, 46; York and New- castle, Preference, 61 74; Paris and Lyons, 71; Constituted North of France, 94.

SATURDAY, TWO O'CLOCK.

The English Stock Market has been very heavy. Consols at one period fell} per cent from the opening price. A purchase of 100,0001. for Account has given greater firmness, and the closing price for Money is 92d1, and for Account 92 1; marking a decline of 1 per cent from the highest. The Foreign Funds con- tinue heavy, in the absence of any material transactions. Shortly before the close of business, a better feeling prevailed in the Share Market; and though the prices are lower, the tone is much firmer and better than in the morning. This obser- vation applies to the French as well as the English Shares. Several purchases of the former have occurred, by brokers and speculators connected with French mer- cantile houses; the closing prices of Stock and Shares in Paris yesterday being known, where a decline of 1 per cent occurred in Stock, and from 10 to 15 cen- times in Shares. The following are the principal bargains: Ambergate, Notts, and Boston, 21 1; Caledonian, 271 1; Ditto, ILdf-shares, 21 1; Eastern Counties, 221/' Ditto, New, 201; Ditto, York Extension, 343; Great Western, Half- shares, 127 9; Ditfo, Quarter-shares, 201; Ditto Fifth-shares, 291 36; London and Birmingham, 196 44; London and Brighton, 564 4; London and Blackwell, 81 1. London and South-western, 631; Midland, 126 124; South-eastern and Do- ver 3848; Ditto, New, Na 2, 134; York and North Midland, 9343; Ditto, Half- shares, 461; Boulogne and Amiens, 14/ / 1; Datch-Rhenish, 5; East Indian • Great Northern of France, Constituted, 121 1 11/ 12/; Luxembourg, 21: Orleans and Bordeaux, 74; Sambre and Meuse, 41; 'lours and Nantes, Constituted, 34.

3 per Cent Consols 921 3 Danish 3 per Cents 85 8 Ditto for Account ...... 923 3 Dutch 21 per Cents 581 9 3 per Cent Reduced 921 93 Ditto 4 per Cents. 923 3

Cents31 per 941 Mexican 5 per Cents 1846:.• 21921223

Long Annuities 0 91 15-16 New Grenada Bank Stock 204 6 Portuguese New bp. Cta. 1841 35 7 Belgian 43 per Cents 943 51 Ditto 3 per Cents 1842

Spanish (Active) 5 per Cents 231591°341

3.53 Exchequer Bills prem. 5 9 Pemvian India Stock 252 4 Russtan 5 per Cents 12 Brazilian 5 per Cents 87 9

Buenos Ayres 6 per Cent 41 3 • Venezuela 39 41

Chilton 6 per Cents 94 6