16 MAY 1840, Page 10


Budget ; and various reports have prevailed as to the plans that will beadopted There as been much speculation in the City


h during the week as to the

by the Chancellor of the Exchequer to cover the accruing and accumulated deficiencies of the revenue. The amount of such deficiency has been variously estimated at from four to six millions, and it has been suggested that the amount required would be raised by the sale of Deferred Annuities; while another report declared that an issue of Exchequer Bills would, be resorted to. It is, however, the prevailing opinion thatAtllelertchewiEllngnloisthheFlaueli creation of Stock during the present year. Funds s ncgo u13- sequently improved in price ; whereas the supposed issue of Exchequer Big, has, by anticipation, operated unfitvourahly upon the price of these securities, and the prenmun upon them has been to-day as low as 19.

The improvement in the English Funds has been from a to per cent ;

and, as is usually the case, the Three-and-a-half per Cen am t. Stocks l ire.. proved in the greatest degree. Reduced Three-and-a-half pun Cents, we been quoted at 99i, and New Three-and-a-half per Cents. ut twinge improvement of per cent.; while 'fierce per Cent. Consols for Money hare only reached 91a, and Reduced Three per Cents. only oog ; which is equal to an advance of a per cent. 011 our last prices. In the Foreign Market, the high price of the French Funds has induced several purchases of the European Continental Bonds; and Russian, Belgian and Danish Bonds have all advanced—the last having been done as high as 4, the highest quotation at which they have stood for several years. The Mexican Securities have also experienced an improvement of 1 per cent, ; the Old Six per Cent. Stock being quoted at 30; while the New Fire per Cents., which, till very lately used to range from 1 to 2 per cent. helms the Six per Cents., arc now from 2 to 2i per cent. above them. The South American Stocks have not improved materially ; for, though Columbian have been quoted as high as 26i, the market has given way again, and is to-day at 26. There seem, however, a disposition in the speculative portion el the public to go into Mexican seed South American Securities, and the bushiest transacted 111 these stocks lately has been considerable.

Portuguese Bonds are heavy, with little doing ; the prices of to-day ranging l per cent. below those of last week.

The expected drawing of the Deferred Spanish Stock for conversion into Active Bonds took place in Madrid on the lot instant ; when Deferred Bondi, to the extent of 1,100,707/. 10s. of the following numbers and series, viz, Series A 42 10 11 85 C 170 I) 255 N 510 1? 1020


Our market has been the scene of great activity this morning, the reports of the lost few days being confirmed by the Chancellor of the Exchequer leaving provided for the deficiencies of the revenue without either a loan or funding. Some considerable speculations for the fall have been entered into within the last few weeks, and the sellers have consequently been compelled to replace their Stock. The English Funds arc by this circumstance from 4 to i per cent. above our last night's quotations ; Consols for Account that closed last night at 91A, opened this morning at 91*, and have continued to rise till this moment, when they have reached 921. Reduced Three per Cents. have nu• proved in a similar degree, while the Three-and-a-half leer Cents. have rireu about 4 per cent. Exchequer Bills have improved 2s., and are quoted at 23t. to 25s. prem. In the Foreign Market, all the European Funds are in demand at improved prices; Danish are quoted at 80, and Dutch Two-and-a-half per Cents. at 54/. Columbian arc 26/ a. Portuguese Securities are about 4 per cent. higher, while Spanish Active have improved, and after being at 2B4,4 now 285 a. The Railway Shares are generally are at an improvement un yesterday's prices. Dam for Account 928 4 Columbian 6 per Cents 21062111 D

:3 per Cont. Consuls 921 1 Belgian 5 per Cents,

3 per Cent. Reduced 91 1 Daliihb 3 per Cents 790 50 3f per Cent. Ditto 901 100 Dutch 24 ler Cents 541 1 New 34 per Cents. 1013 I Portuguese Regency b per Cts. 351 Bank Stock 1754 Ditto 3 per Cents 241 0 Exchequer Bills 23 25 pm. Russian 5 per Cents Brazilian 5 per Cents 751 I 2(0 1115

Italia Stock — Spanish (Active) 3005 to :3755 10825 to 11917 4169 to 9584 2669 to 3001 1169 to 1752 5169 to 5651

were declared entitled to conversion. A quantity of Active Stock has thee been thrown upon the market ; and this circumstance, in conjunction with the reported issue of a large amount of local Stock by the Government at Madrid, has depressed the market ; and the quotations of yesterday were 11 per cent, below our last, having declined to 27a. The price, however, speedily improved to 28/; an express having brought intelligence of a rise of a per cent. in Paris on the previous day. The same express announced the capture of MORELLA; a report which remains unconfirmed. The market opened briskly this morn- ing, and a large purchase to the extent of 80,000/. for Money soon forced the price up to 28a ; but this improvement was not supported, and the closing price is 24 a. The demand for Railway Shares still continues ; and those of some of the more important lines have improved from 2!. to 51. upon our last prices ; while the smaller varieties, as Brighton, Blackwell, and Croydon, have, after under- going some fluctuations, established the same high quotations at which they stood previous to the recent decline.