MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
Since the armistice was first announced all departments of the Stock Exchange have shown considerable animation, and Stocks and Shares with few exceptions have improved, but the highest figures have not been maintained ; Consols, for instance, are now quite 1 per cent below the highes point reached. The sudden announcement of peace caused for some time a good deal of activity, and purchases, bona-fide and speculative, continued until Console were down at 961; this high price induced sales again, chiefly for realization ; the Market has consequently become comparatively depressed, aided also by apprehensions with respect to the future, it being feared in some quarters that Italian affairs will be more complicated than ever ; be that as it may, there is not the same amount of activity, and Stocks generally have a tendency to flatness. Consols first opened on Monday 955 95/, and after a good deal of business advanced to 96; late in the day telegrams from Paris, with orders to buy, sent the quotation to 961 buyers. On Tuesday the Market opened 961 961, and has since gradually declined to 951 951, the closing price of this afternoon. Bank Stock, 221 223. The Bank Directors yesterday reduced the rate of discount to 24 per cent ; the measure was fully anticipated. Moneyhas been more in demand this week.
The Foreign Market has been active and occasionally agitated during the week, and prices all round are much higher than at the close of Saturday. The following are all at improved rates—Mexican, 19 195 ; Peruvian Four- and-a-half per Cent, 90 92; Peruvian Three per Cent, 70 72; Buenos Ayres Deferred, 171 18 ; Venezuela, 28 29 ; Turkish Six per Cent, 83 84; Ditto New, 71 72 ; Sardinian, 86 88; Austrian, 6 dis. to par; Russian, 108 110 ; Victor Emmanuel, 91 93; Portuguese, 44 45 ; Spanish, 43 44. The Market closes firm.
More business has been doing in Railway Shares this week than for some time ; prices are all considerably higher and have been still better ; but a reaction has set in, and a fall of 1 to 2 per cent has occurred ; the last prices however, are from 1 to 3 per cent higher than last quoted. Midland, 10 1041, shows a rise of 3 per cent ; London and North-Western, 96 961,
per cent improvement ; Lancashire and Yorkshire, 96 961; and Caledonian, 831 84 both 2 per cent better ; South Eastern and Dover 1 per cent, 72 73 ; and London and South-Western, 14 per cent, 951 965; Blackwell, 65 67; Manchester, Sheffield and Lincoln, 361 371 ; London and Brighton, 112 114; North Stafford, 31 35 die. Business has been principally speculative. This has been settling day, but there has already been a good deal done for the next account. The rise in the Foreign Share Market has been followed by large realizations, especially by holders of Lombardo-Venetian Shares, and a reaction has consequently taken place. The No. 1 shares are not- withstanding still 1 per cent higher, 21 24 prem., and the New, 25 21 prem. Northern of France, 361 371; Paris and Lyons, 341 341; Luxembourg, 617 ; Namur and Liege, 81 81. The Market has been quiet all day.
SATURDAY, TWELVE O'CLOCK.
The Consol and Share Markets are a degree flatter this morning, but there is very little stirring. Foreign Stocks are without change—Consols, 951 951; Reduced, 95196.
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