MONEY MARKET.

STOCK EXCITAKOK, FRIDAY AFTCRWorm.

The English Funds experienced a deeline of nearly! per cent subsequently to our last report; Consols for Money having been as low as 991: the market afterwards recovered, and is today per cent higher than the lowest price, and nearly the same below the closing price of last week. This depression has been solely occasioned by the state of the market, and not by any political occurrence. It would appear that the improvement a short time since from 993 to 1001 was the result of numerous speculative purchases made in antici- pation of the effect to be produced by the visit of the King of the French, the publication of the Revenue-accounts, (which were known to be of a very fa- vourable character,) and the investments always made by the public upon the payment of the Dividends. The anticipations of improvement were' however, not realized; and when settling-day came, everybody appeared to have Stock to sell : the consequence was, a great demand for money upon loan for a few days on the security of Stock; so that interest at the rate of 5 per cent per annum was in more than one instance given. The immediate pressure, how- ever, has in some degree subsided, and prices, as has been before stated, have improved. There is not much probability of a present recurrence of a similar pressure ; though perhaps a demand may arise on the 23d instant, when the loans which as usual were made by the Bank during the shutting of the books arrive at maturity. The Foreign Exchanges have improved during the week, and still show an upward tendency. Bank Stock is rather lower, and has to- day been done at 205 and 206 for Money, and 2061 for Account. In the Foreign Market, business has not generally been very extensive. The better class of Dividend-paying Securities have suffered from the depression of the English Funds. There have been some large transactions in Portuguese Securities, of precisely the same character as those noticed last week. The effect of the sales of several brokers having been counteracted by that of two or three influential purchases, the result has been to keep quotations nearly steady. Spanish Stock has risen nearly 1 per cent ; the rumours of revolution, recently so prevalent, having proved unfounded, and the Cortes having assembled in peace. A notice has appeared from the Belgian Finance Minister, stating that Messrs. ROTHSCHILD will receive in London the payment which becomes due on the 1st November upon the Scrip of the New Four-and-a-half per Cent Loan, provided such payment be made on or before the 25th instant. The con- version of the existing Five per Cents into the new Four-and-a-half per Cents will be effected gratuitously by the Belgian Embassy, on presentation of a list of the numbers and descriptions of the Bonds and exhibition of the Bonds them- selves at the,office of the Embassy inorder to their being marked. The bolder of Five per Cent Stock will, however, retain the Bonds until the New Four- and-a-half per Cent Bonds are ready, when a day will be fixed for the ex- change, and duly notified.

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The business n Railway Shares has been of nearly the same character as last weak; the older and more established Shares having declined, while but slight improvement has occurred in the new lines. Speculation in these embryo un- dertakings appears to have received a check; and on the settling-day in the Foreign Market, on Tuesday last, interest at the rate of 10 and 12 per cent per annum was paid upon loans on the security of the minor description oallaares.• A list is in circulation in the Stock Exchange, showing in a tabular form the number of Railway undertakings which will come before Parliament tn order to °Wain bills in the session of 1845. The total capital required for all these un- dertakings is more than 66 millions : but as many of them are opposing lines, the amount may fairly be reduced one-third; we shall then at a rough estimate have 44 millions as the Railway expenditure of the coming year,—a sum which, added to the 80 millions already invested in these undertakings, will carry the whole Railway expenditure of the kingdom to between 120 and 130 millions.

SATURDAY. TWELVE o'CLoca. Scarcely any business has occurred in the English Funds, prices being the same as yesterday. In the Foreign Stock Market, the only variation is in Spanish Stock, which has declined slightly, in consequence of a depression both in Paris and Madrid.

The Share business has been extensive, as will be seen by the following list of the morning's bargains. Railways—Bristol and Gloucester, 433; Caledo- nian, 4; Eastern counties, 131 4; Birmingham, 213; Brighton, 47; Croydon, 161 ; Midland, 1081 71 ; Newcastle and Darlington Junction, 471 7; South- eastern and Dover, 41; York and North Midland, 109; Ditto, and Scarborough Branch, 341; Lynn and Ely, 21; Churnet Valley, 4e; Paris and Orleans, 40, 393 i; Paris and Rouen, 48k; Orleans, Tours, and Bourdeaux, 311 1; Paris and Lyons, 21: Santiago de Cuba, Mining, 24.

SATURDAY, Two &atom Several sales of English Stock for Money have occurred, and the prices close at 4 per cent below the quotations of the morning. No material change or business of importance has occurred in the Foreign Market. We have to notice the following transactions in Railway Shares, in addition to those given in the morning : Birmingham and Gloucester, 1051 : Chester and Holyhead, 71 ; Eastern Counties, 13* 4; Great Western, 139 ; Ditto, Half-Shares, 874 64; Birmingham, 213 212; Norwich and Brandon, 1011 ; South-eastern and Diner, New, 14; York and North Midland, 1074 d; Ditto, Ilalf-shares, 544; Dublin and Belfast, 44; Paris and Strasburg. 23; Central of France, (Masterman's,) 33 4; Ditto, Constituted, 83 8 ; Bou- logne and Amiens, 41 4*.

3 per Cent Consols

1001 X

Danish 3 per Cents 88 9

Ditto lor Accuuut

1001 Dutch 21 per Cents 634 X 3 per Cent Reduced

991 1

Ditto 5 per Cents 98t 8

34 per Cents

1021 X Mexican Spec Cents Cooed. 345 8 Batik Stock

205 6 Ditto Deferred 15/ i Exchequer Bills prem. 73 5 Portuguese New 5 p. Cts. 1841 50 1 India Stock

288 9 Russian Spar Cents 118 19 Braziliau 5 per Cents

84 8

Spanish (ACtive)5per Cents. 231 8

Belgian 5 per Cents

103 5

Ditto 3 per Cents 1842 341 X Chilian 6 per Cants

101 3

Venezuela Active ex d. 40 1

Comm bias ex Venezuela

14X 8