MONEY MARKET.

STOCK EXCHANGE. FRIDAY ArTESNOON.

The settlement of the Consol Account, which took place today, has given a little more animation to business in the English Funds. The fluctuation of the week has been about I. per cent, the closing prices of today being within of our last quotations. We cannot, however, quote any very important transactions, and there seems to be no disposition to speculate. At the beginning of the week some speculative sales were made in consequence of the unfavourable nature of the weather, waich was expected to have a disadvantageous effect upon the harvest; but the sales do not appear to have continued, and the market has re- covered from the temporary effect. There are always speculations of the kind going on at this period of the year and for a short time the barometer will in- fluence the fluctuations of the market. The anticipations of the corning harvest, however, are of the most favourable kind; and at present there seems little reason. to fear that a necessity for a large importation of grain will arise, or that the immense stock of bullion now in the Bank of England will suffer any serious diminution during the approaching autumn in making payments for foreign corn. Money still continues abundant; and is easily obtainable on loan at the rate of from 211 to 3 per cent upon' the security of good bills or English Stock ; but a higher rate is demanded and easily obtained upon Foreign Stocks and Shares, varying according to the security, from 5 to 10 per cent and upwards. The transactions in Railway Shares have not been of so important a character as usual; many of the lesser varieties having fallen into oblivion, and there being little hope of getting the bills of many others through Parliament during the short remainder of the session. The energies of the various projectors must therefore be devoted to preparing for the session of 1846. Considerable dissatisfaction has been expressed by the purchasers (at a pre- mium) of the Shares of the Great North of France Railway, with an arrangement consequent on the remodelling of the Company, by which, in order to secure their interest in the shares, they are obliged to sign the new Company's deed of settle- ment. It has always been considered that the purchaser of Scrip Shares is not to be called upon to sign the Parliamentary contract and subscribers' agreement or any deed, until the company. in which he has purchased shares has a legal ex- istence. The received opinion is, that if, during the period between the purchase and the final formation of the company, the holder of Scrip determines to abandon the undertaking, he has a perfect right to do so; that he cannot in any way be made responsible for calls upon the Scrip Shares, until by signing the deed con- stituting the company the shares become registered in his name; and that then only does his responsibility as a shareholder commence. The reason of this prac- tice is, that by an act passed shortly after the occurrence of the South Sea Bub- ble, and technically called the "Bubble Act," all dealing in the Shares of a company not regularly constituted is illegal, and consequently the ori- ginal subscriber to a Railway Company, (notwithstanding he may have sold his shares) is still considered, with regard to the company, as a holder of them until the Act of Parliament constituting the company is obtained. In the case, however, of the Paris and Strasburg Railway Company, (Ganneron'sd the directors, when enlarging the capital and issuing new shares, have called in all the old shares, and compelled the holders of them, under pain of forfeiture, to accept new shares and sign an undertaking binding themselves to pay all future calls. Those holders, therefore, who have purchased their shares and are not original subscribers, are compelled to undertake a liability which they never contemplated, and to which but for the reconstitution of the company they never would have been subjected. The same course is about to be adopted b3 tie Directors of Lafitte's North of France Railway ,• and if this proceeding sh u.d become general, the cautious capitalist, who prefers buying shares at a premium to taking the responsibilities attached to the original subscription, will be forced. into the very positron which he has made a pecuniary sacrifice to avoid. The transactions in the Foreign Stocks have been confined to some operations in Spanish Stock, both varieties of which have declined, and they were at one time nearly 3 per cent below the prices of last week: a reaction of rather more than 1 per cent has since occurred, and there has not been any material fluctua- tion for the last two days. The approaching determination as to the annexation of Texas has attracted attention to Mexican Bonds, and some business took place in them; without, however, leading to any great improvement in. prices. There is also an inquiry for both varieties of New Grenadian Bonds, arising out of the Co- lumbian Stock; and this latter is slightly improving in consequence.

SATURDAY. TWELVE O'CLOCK.

The little business yet transacted in the English Funds has been at higher prices than yesterday, Consols having been done for Money at 991 and at 994 for Account; while the Three-and-a-quarter per Cents, which at the commencement of business were done at 1024, have since reached 1021. In the Foreign Market the only change occurring is in Spanish Stock which opened lower than yesterday in consequence of a decline of per cent. having taken place in Madrid, but is now rather firmer.

The Railway transactions have as yet been confined to the following, viz.: Bristol and Gloucester, 586; Caledonian, 101; Cambridge and Lincoln, 5 44; Coventry and Leicester, 14; Great Western, Half-shares, 471; South-western, 82; London and York, 34 4; Lynn and Ely, 6; Midland, 192 1; Newcastle and Dar- lington Junction, 57; North British, 251; Ditto, New, 74; Oxford and Wor- cester, 7 64; South Devon, 301 30; South-eastern and Dover, 48; Louvain and Gemeppe, 54; Namur and Liege, 64; Orleans, Tours, and Bordeaux, 104; Paris and Lyons, Lafittes, 3; Sambre and Meuse, 71; West Flanders, 44. SATURDAY, Two o'cLocw.

There is no material change in the prices of either the English or Foreign Funds. At the close of business, both Portuguese and Spanish Stocks were at a slight advance upon the previous quotations of the day; but the transactions have been unimportant.

The business in Railway Shares has been general,. but not extensive. We have to quote the following bargains, in addition to those given in the morning : Armagh, Portrush, and Coleraine, 14; Bristol and Exeter, 961; Ditto and Gloucester, 59; Cambridge and Lincoln, 44; Chester and Holyhead, 161; Direct Northern, 31; Eastern Counties, 211 4; Great Southern and Western (Ireland,) 22; Great North of England, 228; Great Western, 214; Ditto, Fifths, 46i: Lancaster and Carlisle, 474; Birmingham, 244 5; Ditto, Quarter-shares, 35; Blackwell, 10 94; Brighton, 771; Croydon, 23; London and York, 44 4; Midland, 191 3; South- eastern and Dover, 48 474; Ditto, New, No. 1, 191; Ditto, No. 2, 171 17; Ditto, No. 3, 4 4; South Wales, 5; York and North Midland, 1146 14.

3 per Cent Consols Ditto for Account 3 per Cent Reduced 31 per Cents ..... 99 1

951 f 991 f

1021 1 Columbian ex Venezuela • ..

Danish 3 per Cents Dutch 21 per Cents..ex dtv Ditto 4 per Cents 17f 18 89 90 621 f 99 1 Long Annuities

114 f Mexican 5 per Cents 361 71 Bank Stock

Ditto Deferred 201 1 Exchequer Bills Prem. 54 6 Portuguese News p. Cts. 1841

641 51

India Stock

Ditto 4 per Cents 1845

64 15

Brazilian 5 per Cents

90 9 Russian 5 per Cents 117 19 Belgian 44 per Cents

99 100 Spanish (Active) 5 per Cents 261 Chilian 6 per Cents

99 101 Ditto 3 per Cents 1842 374